A recent survey revealed that while 83 percent of Filipinos considered life insurance important in 2022, only 54 percent felt the same in 2024—a significant drop driven by post-pandemic complacency and budget constraints.
But even with the decline, surveyed Filipinos across regions, including Metro Manila, Cebu, and Davao, agree that life insurance is key in protecting families from the financial consequences of unexpected events such as illness, death, or disability. Still, daily expenses and competing priorities continue to delay critical insurance decisions.
As a practical response, BDO Life addressed this challenge by making life insurance more accessible through its branches nationwide and by offering expert financial advice through its licensed advisors. While digital tools for information and quotations are available online, many Filipinos still prefer face-to-face consultations when making long-term financial decisions.
“Everyone has a Plan A—investments and savings. But life happens, and that’s why you need a Plan B,” said Randy, a BDO Life financial advisor. “Life insurance is that Plan B.”
Real-life stories shared by BDO Life advisors emphasize the difference a policy can make. From ensuring children’s education to preserving a family’s business, the impact is lasting and life-changing.
“You owe your loved ones a Plan B that will allow them to move on in life when you’re no longer in the picture,” said BDO Life president and CEO Renato Vergel De Dios. “That takes financial maturity. It’s not just about you—it’s about everyone who depends on you.”
