By Anna Lam
Philippine Daily Inquirer
Originally published on February 7, 2010
ORIGINAL ARTICLE
MANILA, Philippines–Shortly after master rapper Francis Magalona lost his eight-month battle with cancer at 44 years old, his wife, Pia Magalona, was told she had a check waiting for her at life insurer Sun Life of Canada.
The mother of eight was overwhelmed.
Her late husband made big bucks from his show business career and was fortunately proactive in his financial affairs, covering Pia and their children in case of uncertainties.
Life insurance is a policy that protects against financial loss, when the insured person dies.
Insurance is paid to named beneficiaries in exchange for timely payment of premiums at regular intervals, or in lump sums.
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