Sayang mam, a 1 Million insurance coverage maybe today is not that much but it still 1 Million cash to your loved ones if something happens to you. In financial planning, after setting up your emergency fund, the next step would be protection planning, that is, life and medical/hospitalization insurance. A single illness or a death of the breadwinner can wipe-out the savings of a family. SSS is not enough mam kasi I think the highest pension you can get is P 15,000 per month. I don't know if you can live comfortably with 15k with all the skyrocketing expenses today. Burial assistance is only 25K may be enough for a decent casket but not enough for the funeral services and memorial lot. You really have to augment it through your own savings and investment. Getting a life insurance is one way and the easiest way to prepare for life's eventualities. Remember, there are 2 things in life that are inevitable and inescapable: Death and Taxes!