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| Plan B is more than just a backup plan—it's a lasting promise that your family’s future stays protected even when life takes an unexpected turn. |
Life Insurance: A Necessary Shield Against Life's Uncertainties
In a recent market survey, only half of breadwinners in Metro Manila, Cebu, and Davao City prioritize life insurance. Even more concerning is the post-pandemic decline in urgency. While 83% considered protection crucial in 2022, that number plummeted to 54% by 2024.
Why this gap? Budget constraints are frequently cited. Many prioritize immediate needs over long-term security. Yet, across demographics, respondents recognize life insurance's value in safeguarding families against unforeseen health issues, death, accidents, or disability.
A Plan B isn't optional; it's a selfless act of prioritizing loved ones' financial well-being. BDO Life makes life insurance more accessible through its nationwide BDO branch network. While online resources provide information and quotes, many prefer personalized guidance. This positions BDO Life's financial advisors to counsel clients and build lasting partnerships.
The impact is evident in advisors' stories. They share how life insurance shielded families from devastating financial blows.
Putting his family first until the end
BDO Life financial advisor Jimmy recalled a heartbreaking incident where a client met an accident on the expressway while on a family outing. Sadly, the insured passed away upon reaching the hospital.
The insured’s wife later shared that she was not aware her husband availed of life insurance until he requested her to pay the premium—just one month before the accident. “Iyong pagpapabayad ni sir kay ma’am ng premium ay tila lang daw naging dahilan upang ipa-alam na meron siyang inilaang BDO Life insurance para sa kanila,” said Jimmy.
The wife also wrote to say, “Akala mo di mo kailangan, pero kailangan mo pala. Dati para sa akin, dagdag expenses lang.” Her own realization of the value of insurance compelled her to make more people aware of the benefit that life insurance brings.
Leaving a loving legacy
Another advisor, Jonah, described a businessman's sudden death. The insurance proceeds ensured his family could maintain his businesses and repay debts, providing a crucial safety net.
"Nakita ko na kahit healthy ang isang tao, death can happen anytime,” recalls BDO Life financial advisor Jonah.
Her client, a businessman who ran a water refilling station and construction firm, passed away unexpectedly. With the proceeds from the insurance policy, his family was in a more secure situation to face the future. “Nabayaran ang balance ng loan for an L300 para maipagpatuloy ang naiwan na business. Naipagpatuloy rin ng family ang water refilling station business.”
His wife, who was working overseas, came home for the funeral and expressed her heartfelt gratitude for her husband’s foresight.
Being Ready with a Plan B if Plan A fails
When talking to prospects and clients, BDO Life financial advisor Randy explains the need for a Plan B. “We all have a Plan A—our preparation for the future through savings and investments. But we must also make clients recognize the need for a back-up plan o Plan B para ma-secure ang pamilya financially for unexpected events, at hindi ma-disrupt ang Plan A.”
One of his clients had planned for his life insurance proceeds to be used for his children’s education. “They still have quite a long way to go till they finish college, but there will be some funds to see them through. Whatever he left behind by way of life insurance will provide not only for his children, but also for his wife and mother.”
BDO Life President and CEO Renato Vergel De Dios underscores the importance of providing for loved ones' future. He stresses that life insurance is a financially responsible choice, not a luxury.
"You owe your loved ones a Plan B that will allow them to move on in life when you’ve ceased to be in the picture. That takes tremendous financial maturity and responsibility to recognize that life insurance isn’t an optional choice. It’s the financially smart thing to do.”
Start your Plan B conversation with BDO Life today. Visit your nearest BDO branch or explore options and get quotes at www.bdo.com.ph/bdo-life.
