As If In Prayer
I just found out.
But first, the back story. On the year I sold my house in Cavite, I bought life insurance coverage for my daughter. It was an endowment type of insurance, one that I would have to pay for 5 years. According to the plan, the sum insured would almost double (x 1.8) on year 3 and my daughter will start receiving money on the 8th year and every other year after that. I thought it was a great plan and a great investment and a wonderful beginning for my insurance business. After all, I get a commission, which means I get to have a good discount. I forgot that I had to pay premium for 4 more years. (pained grin here)
And then I read an article that insurance for children is not really recommended. After all, the purpose of insurance is to replace the income of the person living. Children have no income. Parents provide for them and not the other way around. Life moves forward.
But it was too late. I already bought it.