The Top Three Financial Needs

We have been discussing savings, investment, insurance and other matters through the past fifteen years.  We have put together the Kapatiran sa Kasaganaan (KsK) Cooperative and the One Wealthy Nation (OWN) Fund and Community. KsK Cooperative is invested in the Rural Bank of Cavity City (OWN Bank) and the aurumOne Makati Hotel and in the OWN Fund. OWN Fund is managed by the First Asset Management Investment (FAMI). As such, FAMI provided options for the KsK Coop members to invest small amounts in other FAMI funds.  All my advice have been focused on allowing my readers and listeners to make an independent choice on the options they have.


Reviewing all our past columnson various publications such as Bulgar, The Sun (HK), PinoyTayoSanman (HK), Tinigng Marino and including our Pisobilitiesand  Pera Mo Palaguin Mo series of books, Three Top Financial Needs of every individual and of every family stand out, namely: Money for Health,  Money for Protection and Money for Financial Growth (Investment).


Money For Health


Without doubt, every reader of this column, or his family,has experienced some kind of a medical problem, or worse, a medical emergency requiring hospitalization or at least, some kind of medical treatment requiring money.  When this occurred, did you have the ready cash to pay for the medical service?


According to the leading insurance company “ Health is a top priority among Filipinos but only 2 out of 10 Filipinos are financiallyprepared for serious illness.”


We have always made talked about putting aside “Emergency Funds” as the first obligation once you start earning.  The usual mindset is to save and set aside actual cash for that “emergency”.  In reality, this is not the only solution.  The insurance industry has in fact many products that provide this kind of resource when emergency strikes.  For small amounts of premiums (much less than what an individual will have to regularly set aside on his own), the risk of not having sufficient cash for health emergencies is effectively addressed by these insurance products.


The number one insurance company in the Philippines, Philam Life, has one of these offerings that is really worth considering.  We are presently studying it and we invite anyone to write or email us on info@colaycofoundation.comif you want to know more about this health related insurance product of Philam Life.

This entry was posted in Save. Bookmark the permalink.

Leave a Reply

Your email address will not be published. Required fields are marked *