|Mr. Aya Laraya during the Sun Life #Money4Life talk|
- Inheritance tax- yes, there is a prepared last will testament but who among the family members would shoulder the tax in the process of transferring the property? The dilemma among siblings can be prevented if there is a fund intended for this purpose.
- Burial expenses could be very expensive. Again, if a loved one has already allotted insurance for this then the family will not have to go through the hardships of raising funds for this expense.
- Medical bills can also be a big consideration in the event when a loved one succumbed from an illness. Hospital bills could pile up and if there is a fund just for this type of expense then the family would be spared from the burden.