The economy influences investment-linked life insurance plans, but traditional life insurance products provide stability and security for clients. These products not only serve as financial tools but also symbolize personal responsibility and commitment to loved ones.
Renato Vergel De Dios, the president of BDO Life Assurance Company, Inc. (BDO Life), emphasizes the company’s strong belief in traditional life insurance. This belief has led BDO Life to promote the idea of having a “Plan B” for life, which resonates deeply with the emotional ties individuals have to their families.
“The gap between the projected GDP growth and the actual growth reveals the presence of uncertainty, whether in challenging times like the pandemic or favorable times like last year. This uncertainty is why breadwinners need a Plan B to safeguard their family’s finances,” the industry veteran said. This statement reflects the inherent responsibility that breadwinners carry—the duty to ensure their family’s financial security, even amid life’s unpredictability.
Vergel De Dios added, “A family that has recently lost its breadwinner will face greater challenges during economically uncertain times unless adequate provisions for their financial protection have been made. This is what Plan B represents. Considering life’s uncertainties, life insurance protection is the financial instrument that can help mitigate the risks that families face.” This highlights the emotional weight of losing a loved one and the importance of preparing for such eventualities. Life insurance serves as a tangible expression of love and commitment, ensuring that families remain supported even in the most difficult circumstances.
Filipinos can approach a BDO branch and consult a BDO Life Financial Advisor to initiate and plan their Plan B. For those interested in life insurance and who prefer managing their financial planning, BDO Life offers an online tool, Get A Quote (GAQ), enabling them to calculate a personalized insurance plan based on their financial goals and budgets. Explore the simplicity and effectiveness of GAQ at www.bdo.com.ph/bdo-life/get-a-quote.
BDO Life, supported by BDO Unibank, has the largest branch network in the Philippines and provides life insurance plans that address individuals’ protection, health, education, savings, retirement, and estate planning needs.
The economy significantly influences various financial products, including investment-linked life insurance plans. However, traditional life insurance products stand out as they provide clients with the stability and security they seek. Amid economic fluctuations, the importance of life insurance becomes even more evident, as it offers a safety net for families facing uncertainty.
Vergel De Dios emphasizes the necessity of proactive financial planning. He notes, “The gap between projected GDP growth and actual growth reveals the presence of uncertainty, whether in challenging times like the pandemic or favorable times like last year.” This statement highlights the inherent unpredictability of economic conditions. Families often find themselves in precarious situations, and the need for adequate financial protection becomes paramount.
He further elaborates, “This uncertainty is why breadwinners need a Plan B to safeguard their family’s finances.” For many, the role of a breadwinner is not just about earning an income; it encompasses the deep-seated responsibility of ensuring that loved ones are financially secure, regardless of life’s challenges. Without a robust financial plan in place, families may struggle to cope with unexpected events, such as the loss of a primary income earner, leaving emotional and financial turmoil in its wake.
A particularly poignant point made by Vergel De Dios is, “A family that has recently lost its breadwinner will face greater challenges during economically uncertain times unless adequate provisions for their financial protection have been made.” This underscores the emotional stakes involved in financial planning. Families that have not established adequate safety measures often find themselves vulnerable when faced with economic downturns or personal tragedies.
In essence, Plan B represents a strategic approach to financial resilience. It is about being prepared for life’s uncertainties and ensuring that loved ones are protected. Life insurance serves as a critical financial instrument that can help mitigate the risks families face. By investing in a traditional life insurance policy, individuals can provide their families with a financial safety net that can be instrumental during difficult times, reinforcing the emotional bond and commitment to family welfare.
Filipinos looking to initiate their Plan B can approach any BDO branch to consult with a BDO Life Financial Advisor, who can provide personalized guidance and support tailored to their unique financial circumstances. These professionals are equipped to help clients understand their options and make informed decisions regarding their life insurance needs.
Additionally, for those who prefer a more self-directed approach to financial planning, BDO Life has developed an online tool called Get A Quote (GAQ). This innovative tool allows users to calculate a personalized insurance plan based on their specific financial goals and budgets. With GAQ, individuals can explore various coverage options and understand how life insurance can fit into their overall financial strategy. The convenience of this tool enables users to take charge of their financial planning from the comfort of their own homes. Interested individuals can explore the simplicity and effectiveness of GAQ by visiting www.bdo.com.ph/bdo-life/get-a-quote.
BDO Life, supported by BDO Unibank, boasts the largest branch network in the Philippines. This extensive network ensures that clients can easily access the services and support they need, no matter where they are located. BDO Life offers a wide range of life insurance plans designed to address various individual needs, including protection, health, education, savings, retirement, and estate planning. Each of these plans is crafted to help individuals achieve their financial objectives while providing peace of mind.
