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Earlier this month, I wrote "The Consequences of Loosing a Loved One - Part 1". And with that, my mother sent me, my brother and sister a message as a response to my post. And with her permission, I decided to share it with you for you to have a glimpse on the confessions of a widow. Mind you, this is the first time that we really discussed about the loss of our father...

Photo by vincent BOCOGNANI

• Mama: Hi Hon, good job on your blog. I am so proud of you as a writer. The same goes to Kuya and Ate who also can write well. Did you know that Papa could also write well. It runs in your blood.
  
• Ate:

  
  

  Mamalou!!! YES!! Papa really writes well!  XXX We miss you Mamalou!

  
  

  
  

  Mama:

  Some facts you may not know about Papa's insurance. He had 2 insurance policies - one was the regular and the other was term insurance which had more face value. The last one we bought was the term insurance when we were still in Pusok. We felt that the first policy was not enough for contingencies so we decided to get the term as it had cheaper premiums but more value. I made sure that policies were paid on time including mine even when we were already experiencing financial difficulties . We also got one for Kuya; he being the oldest, which we deemed would be beneficial later, for several reasons. That was the policy I turned over to Kuya as a wedding present so he can continue paying it.

  
  

  Mama:

  As for the CAP colllege plans, Papa and I wanted the three of you to finish college and earn degrees at all cost. Those are the only gifts that we can give you that cannot be stolen. I applied as CAP Advisor and that allowed me to get discounted premiums. Kuya's age at that time was way beyond the qualifying age for the coverage so it was only Ate and Honhon who had college plans.
• Mama:
  
  

  Earning a college diploma was a big thing for Papa and me. We both came from poor families. You may not know this and Papa has always kept this away from you. He has not finshed a college degree; he finished a vocational course ( 2 year Secretarial Course) in Mindoro and he worked at the same to support himself. He was away from LT and his sisters who were in Cebu. Papa stayed with her Auntie who was maried to a lawyer in San Jose Occidental Mindoro and worked in his aunt's store, even baking cakes.
• Mama: 

  
  

  So, now you would understand why Papa was against your getting a job and at the same time study; because he has been through that. He wanted all of you to concentrate on your studies , just be full- time students and do your share so you can earn the degrees that you really like. With that, we are optimistic that your future will at least be secured as you are ready to face the challenges of finding jobs or putting up your own business.
• Ate: 
  Yes Mamalou, I remember those. And definitely appreciative of that. That is one thing we pride ourselves of, to have you guys as parents. To have taught us what we needed to survive and no matter how down we get in life, we will always make it because you have molded us to become survivors and rise when we fall. So a huge KUDOS to you and Papa. Ask Ray to pat you at the back when he gets there. LOVE YOU MAMALOU!!!! XXXXXXXXXXXXXXXXXXX MWAH!!!!!
  
• Mama:
  We hope we have have not failed you on this aspect. We are proud of what you are now. Papa may not be with us physically, but I feel that he is happy where he is now. We just miss him so much.
  
• 
  

  Ate:

  Awwww ... It is obvious that you and Papa have not failed Mamalou!!! I may have gone astray but you guys did not fail  XXXX

  
  

  Honeycomb:

  Yes Ma. I knew that LT was referring to a TERM insurance and I also know about the smaller face amount insurance. She mentioned that to me when she was looking after me after I gave birth to Rayne. And that was a significant story to me that's why I decided to take it.. 

  
  

  But was LT correct? What she said to me? That Papa got the term insurance a few months before he was diagnosed with his lung cancer?
• As for Papa not finishing college, I knew about that before hand.. And I really appreciated the fact that Papa did not allow me to be a working student. I saw the challenges that my batch mates were in as working students...

  And as Ate said it, you and Papa did not fail us... :)
• Mama:
  We got his term insurance several years before Papa was diagnosed with Cancer. We had to look ahead for your future . .
  
• Honeycomb:

  
  

  Ah! Okay! Got that.. Thanks Ma! And because of those decisions that you and Papa made, that's why I chose to make a career out of this to help educate the people of the importance of having one..

  By the way, did you get what I meant at the last part? About Sir Tony Boy??

  He passed away sometime August or September, I think.
• Mama:

  
  

  Oh No?, may he rest in peace. . .What was the cause of death? He was instrumental in introducing Papa to life insurance. In fact, Papa had another life insurance which lapsed and it was too late when he knew about it. He got a loan on the policy, forgot to make any payment and he was just notified that it has lapsed..

  Did you go to his wake?
• Honeycomb:

  
  

  Wasn't able to do so coz I learned about it a few days after..

  i just prayed for him...
• Kuya:

  
  

  Hi Ma,

  We all know that you have raised 3 good kids And were very proud of having you as our parents.

  The lessons you have taught us have brought us a very long way on being independent and responsible.

  Love and kisses,

  Kuya :)
• Mama:

  
  

  Papa and I are blessed, and I am happy that you have grown up to be independent, responsible and courageous individuals despite our lack of physical presence to guide and support you in all your trials and endeavors. This, I have to ask your forgiveness for leaving you on your own after Papa's death. Looking back, that was the only way I knew at that time so I can continue to support your financial needs and finish your studies. I could not continue operation of our business and there was no possible employment for me there. Leaving was the only option, although it hurt me so much. When I came to California in 2002 , I suffered for months from depression without me knowing it; I just lost Papa. I could not sleep continuously for several weeks and cried most of the time, being away from you and still looking for jobs to support myself and save something to send you for your needs.

  Thank God, that is over. Now, I look forward to retirement so I can be with you and my grandchildren. That time will come and it won't be that long. Miss you all.

  Love, Hugs and Kisses,

  Mama

• ==============================================================

  *Some parts were edited just to be consistent with the English language. 

  
  

  Some of the things I highlighted:

  1. I made sure that policies were paid on time including mine even when we were already experiencing financial difficulties. 

  All I could say is that my mother knew her priorities... She knew that she was investing her money on the right item. 

  These days, I meet parents who haven't really determined what their priorities are. They would say that they don't have money, but I see them going on expensive vacations, buying the latest "fruit", having expensive hobbies... My question is, will these provide for your family the moment you are gone? Will these address your financial worries when emergencies arise? Basically, a mismatch is happening. They want the "best" for their families, but their actions say a different thing. How about you? Are you a mismatch or you know your priorities?

  
  

  2. This, I have to ask your forgiveness for leaving you on your own after Papa's death. Looking back, that was the only way I knew at that time so I can continue to support your financial needs and finish your studies. I could not continue operation of our business and there was no possible employment for me there. Leaving was the only option, although it hurt me so much. When I came to California in 2002 , I suffered for months from depression without me knowing it; I just lost Papa. I could not sleep continuously for several weeks and cried most of the time, being away from you and still looking for jobs to support myself and save something to send you for your needs. 

  Even though we received the life insurance proceeds from my Papa's policies, it wasn't enough to last us with the loss of the breadwinner. IF EVER the proceeds were bigger, then my mother wouldn't have had to make those painful decisions. 

  Lesson is, while insurance is not yet a must-have in your budget and you are still healthy enough, load yourself up. So that when the time comes that you have come to appreciate it's purpose, it's already part of your portfolio. Not something that you wish you could have but couldn't...

  To all the mothers and fathers out there. The next time you encounter a situation wherein you have to decide on how to go about your expenses, remember my mother. She is a widow. She made a tough decision of leaving us just to provide for us. Don't let it happen to your family. Don't let your kids feel the drastic changes when you're out of the picture already. 

  Loosing a parent is tough enough, loosing both because the surviving spouse had to leave the kids just to provide for basic needs is something we can do something about. Know your priorities. I have set mine. How about you? 

  We at Honeycomb, can help you on that. So, contact us here.

• Understand the current investment climate.
• Learn more about the investment strategies that work in today's market environment.
• Find out what the future projected returns on investment look like given current developments as well as the possible scenarios that may affect investment yields in the near term.

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Honeycomb Finance Consultancy has limited seats to this by-invitation only forum. We encourage you to grab your seat as early as possible because we rarely get the chance to invite this highly respected speaker. For RSVP, please give us a call at (032) 381-0188 or (032) 239-5225, or text us at 0922-823-2782. Look for Chona or Hannah.

Visited my Papa the other day at his final resting place somewhere here in Cebu. Several things went through my head during our recent visit. And this post is about those things.

Photo by my dear brother, Papa Jo

Remembering Papa

My Papa passed away after loosing his fight with cancer sometime in 2001. He was diagnosed with stage 4 lung cancer in 2000, underwent chemotherapy and all the necessary treatment for several months. Surgery wasn't an option for his case because there was this big lump between his lungs and heart wherein the doctors where afraid that if they do take the lump out, my father might not make it after the surgery.

I really can't remember all the details of his condition that time as I was busy being a 2nd year college student amidst other problems at that time. It was my sister who would regularly accompany him to his doctors.

When he succumbed to his fight to the big C, the following items describe our family condition:
- I was about to enter my 3rd year in college;
- My sister recently gave birth to her first born, as a single mom;
- The house we were living in was still under mortgage;
- The business that Mama and Papa put up, had him (Papa) as the main man for the operation. The forwarding business that the family had was the source of bread and butter for the family.

So the consequences of loosing a loved one who's the breadwinner of the family in the middle of building his empire are the following:

A daughter loosing her Papa - As a student, I really had a hard time concentrating in my studies with all the things going on in our house during that time. I even had our Physics Lab teacher approach me and asked me why my grades were down, when he knew I could do better. I didn't really answer him but just bowed my head down because I knew he was right.

But even with Papa gone, I was able to graduate college without having to work. I remember asking him when I was still a freshman if I could go work part-time and be a working student. And as a working student himself during his time, he didn't allow me. He knew the demands and the hardships of being a working student. Of having to balance the demands of work to those of being a student. Even though he was gone, I was able to graduate from college as a full-time student. How? Because of forward thinking done by my parents.

I was a CAP scholar, so a part of my tuition fee was already addressed. (I know, I know.. Some of you might have had troubles with CAP and other similar institutions, but I recommend that you read my other post regarding pre-need companies to learn more about them.) With my CAP scholarship, only the first 4 years of my college years were partially addressed. My last year in college was paid for by the life insurance proceeds that we received as beneficiaries.

Speaking of life insurance, yes I am a life insurance advocate, that's why I have created a career in the life insurance industry. But one thing that nailed the importance of life insurance in my being was when my Lola (Papa's mama) told me how Papa got hold of a life insurance program a few months prior to his diagnosis.

You see, his life insurance agent approached him and proposed to him a P1.5M policy amount that would cost him around P15,000. To those who still get confused what a policy amount is, that means if ever should something happen to the insured, in this case Papa, the beneficiaries, us, would get P1.5M as a death benefit.

Now, P15,000 back in 2000 was a significant amount already, even today... Considering the different conditions mentioned above that my father was in when he was presented with that proposal, he still decided to take the insurance program. And with that decision he was able to provide the full payment for the house we were living in, I graduated college focused on my studies just as he wished when he was still alive, Mama was able to continue the business for a few months before making the tough decision of going to the United States to find a greener pasture, and all other consequences brought by his life insurance proceeds.

Unfortunately, the insurance proceeds that we received were only good for a few months. But nevertheless, it was able to buy us some time to adjust to the situation - fatherless, a widow, main man is gone in business. Everything changed for us... Tough decisions had to be made...

We do miss him... But at least we have 1 more angel up there looking over us. And he did prove it when I needed it the most - a few days before leaving for my dear son's open heart surgery... (Now that's another story!)

Now, after all those tough decisions made, I can't seem to imagine if my father decided NOT to take the insurance program. Can you?

What if YOU were in my shoes back then? What if YOUR father decided to save off the P15,000, placed it in the bank for "emergency reasons". What would the P15,000 have done for YOUR FAMILY?

What if you were in my father's shoes? What would you do? Can you imagine your kid being fatherless, your  wife being a widow and forced to go out of the country to provide for your orphaned kids?

Papa had no idea that he was going to be diagnosed with the big C a few months after getting the insurance program. But WHAT IF HE DID NOT TAKE IT?? How long would have the P15,000 have lasted for us... It doesn't need a genius to know the answer to that question...

- I would have pretty much ended up a working student, or worst stopped studying altogether;
- My mother would have been forced to sell / close the business immediately as she wasn't really hands-on on the operations, she was more on the admin part.
- My mother would have been forced to sell the house that we were living in since we won't be able to pay the monthly mortgage anymore...
- And so many more consequences that widows and orphans undergo especially here in the Philippines.

So Pa, THANK YOU FOR MAKING THAT LOVING DECISION when you purchased that insurance program. I do hope you help Sir Tony Boy, your agent, adjust to his new life there with you.. And give my thanks to him as well for introducing you to the insurance program. Without Sir Tony Boy, I really don't know where we would be by now...

(Part 2 of this article would be on WHAT IF PAPA DIED IN A DIFFERENT SITUATION? What if we were super rich?? Stay tuned! ) 

Been on a hiatus as a financial consultant due to some family concerns. BUT, I'm back!

From the day I got back to work sometime mid-August, I decided immediately to hold a seminar as a way of paying all the blessings that we received in the past months forward. But this post isn't about our journey in the past months. This is about a material that I saw during my research for my upcoming seminar. I saw this infographic from GMANetwork stating the different benefits of a senior citizen. Since some of my relatives belong to this age group, I decided to take note of this and ask them of the benefits that they are really getting. I asked my mother-in-law, and she indicated that she's only availing a few of the benefits.

How about you? Do you belong to this group or do you know somebody who belongs to this group? It pays to know your / their rights.

• About the Speaker: (http://blog.honeycombfc.com/p/people-in-honeycomb.html) Registration procedures are: 1. Deposit payment to: BPI Checking Account: 1350-0089-57 Account Name: Honeycomb Finance Consultancy After making the deposit, email scanned copy of deposit slip to admin@honeycombfc.com with your NAME, CONTACT NUMBER, COMPANY. Or 2. You can visit us at The Eagles Branch, RD Flr., Pioneer House Cebu (same building as Accenture), Cebu Business Park, Cebu City and register personally. For more information, you may call us at (032)239-5225 or text us at 0922-823-2782. Look for Chona.

CAREER 101: Career Tips They Didn't Teach You in College. We would like to invite those who are still finding a place for themselves in the workplace, whether you are fresh graduates or between jobs.

CAREER 101 will have speakers who will teach you to not only get the job, but what to expect once you've landed the job. Then, they will be telling you about planning for the future and how to smarten up once you start making money for yourself.

ENTRANCE IS FREE & SNACKS WILL BE PROVIDED.
Saturday, March 31, 1:30pm-6pm at Wanna Eat, eBloc Tower, IT Park, Cebu

TOPICS:
- How to Get the Job
. What HR managers want to see in an application letter and resume
. The art of the Job Interview

- Preparing Yourself for Your Job
. Organizing yourself at work
. Learning how to be part of a team
. Stress Management

- Smart Spending for Young People
. How to create a budget
. Money Management Matrix

- Smart Saving for Young People
. Why should I save?
. What should I be saving for?
. Where should I be saving?

So, what are you waiting for?

To register, do either of the steps below on or before March 28, 2012 to ensure you a seat.
1. Text to 0922-8232782 your NAME, SCHOOL/COMPANY, EMAIL AD, CONTACT NUMBER
OR
2. Send an email to admin@honeycombfc.com and write on the subject line - CAREER 101 Registration and place your NAME, SCHOOL/COMPANY, EMAIL AD, CONTACT NUMBER in the body.
OR
3. You may register thru this link.

I came across a video clip of a news several days ago reporting that Prudentialife Plan is bankrupt. My first reaction was, "Oh!". Another pre-need company went down. Fortunately for me, I knew it was a pre-need company, but for the majority who would mix and match pre-need companies with insurance companies, I don't think so.

"You mean they're different?!" Well, I'm not a mind reader but I know that's what a lot of people think. Even my husband (at first)! :)

So, to help ease the mind of my dear friends and to you who just stumbled our blog, here are some information that I have come across in my 5 years in the insurance industry.

Identifying a pre-need company to be the same as an insurance company, would be like saying that an orange is the same as an apple. YES! They are both fruits, but they are not of the same kind... The same goes with the pre-need industry and the insurance industry.
First and foremost, a list of the life insurance and pre-need companies operating in the Philippines.

LIST OF LIFE INSURANCE COMPANIES WHOSE CERTIFICATE OF AUTHORITY WERE RELEASED FOR LICENSE YEAR 2011-2012
As of  18 January 2012


1. AsianLife Financial Assurance Corporation (Formerly: All Asia Life Assurance Corporation -name changed effective 31 March 2003)
2. Banclife Insurance Company, Inc. 
3. Beneficial Life Insurance Company, Inc. 
4. BF Life Insurance Corporation 
5. BPI-Philam Life Assurance Corporation (Formerly:Ayala Life Assurance, Inc.)
6. CAP Life Insurance Corporation 
7. Caritas Life Insurance Corporation 
8. Cooperative Insurance System of the Philippines 
9. Country Bankers Life Insurance Corporation 
10. First Life Financial Company, Inc. (Formerly: First Guarantee Life Assurance Co.-as of 2007 )
11. Fortune Life Insurance Company, Inc. 
12. Generali Pilipinas Life Assurance Company, Inc.  
13. Great Life Financial Assurance Corporation (Formerly: Nippon Life Insurance Company of the Philippines as of 2007)
14. Insular Life Assurance Company, Ltd., The
15. Manila Bankers Life Insurance Corporation 
16. Manufacturers Life Insurance Company (Phils.), Inc., The 
17. Manufacturers Life Insurance Company (Branch), The 
18. Manulife Chinabank Life Assurance Corporation (Formerly: The Pramerica Life Insurance Co., Inc.)
19. Philam Equitable Life Assurance Company, Inc.
20. Philippine AXA Life Insurance Corporation 
21. Philippine Prudential Life Insurance Company, Inc. 
22. Philippines International Life Insurance Company, Inc. 
23. Pioneer Life Inc. 
24. PNB Life Insurance, Inc. 
25. Pru Life Insurance Corporation of U.K. 
26. Sony Life Insurance (Phils.) Corporation 
27. Sun Life Grepa Financial, Inc. (Formerly: Grepalife Financial, Inc. name change November 8, 2011)
28. Sun Life of Canada (Philippines), Inc. 
29. United Coconut Planters Life Assurance Corporation 
30. United Life Assurance Corporation 

(For the complete list of Life and Non-life Insurance Companies with Certificate of Authority for 2011-2012, you may check it out here.)

LIST OF AUTHORIZED PRE-NEED COMPANIES 2010-2011

1. Abundance Providers and Entrepreneurs Corp. (under the business name of APEC Plans, formerly Pacific Plans, Inc.)
2. AMA Plans, Inc. 
3. Ayala Plans, Inc.
4. Caritas Financial Plans, Inc. 
5. CityPlans, Inc.
6. COCO Plans, Inc.
7. Danvil Plans, Inc. (formerly Berkley Int'l Plans, Inc.)
8. Destiny Financial Plans, Inc.
9. Eternal Plans, Inc.
10. First Country Plans, Inc.
11. First Union Plans, Inc.
12. Grayline Plans, Inc.
13. Himlayang Pilipino Plans, Inc.
14. Loyola Plans Consolidated, Inc.
15. Manulife Financial Plans, Inc.
16. Mercantile CarePlans, Inc.
17. Paz Memorial Services, Inc.
18. PhilPlans First, Inc. (formerly Philam Plans, Inc.)
19. Provident Internation Plans, Inc.
20. St. Peter Life Plan, Inc.
21. Sun Life Financial Plans, Inc.
22. Transnational Plans, Inc.
23. Trusteeship Plans, Inc.