Many young Filipinos are eager to secure their families’ futures, yet few prepare financially for one of life’s certainties — death.
According to the 2024 PhilLife Meter: Feeling the Insurance Pulse of Pinoy Gen Y and Z study, 78 percent of young Filipinos view family protection as the top benefit of insurance, while 67 percent cite “loss of life” as the event they most want coverage for within the next three years. However, only 24 percent include burial assistance in their plans, ranking it near the bottom among 11 insurance priorities.
Recognizing this gap, PhilPlans, the pre-need arm of the Philippines First Insurance Group (PFI Group), is encouraging younger generations to consider memorial planning as a vital part of financial preparedness.
“Filipinos are naturally caring and family-oriented, but we often shy away from planning for life’s end,” said Monico V. Jacob, President and CEO of PhilPlans. “Being prepared for the inevitable is actually an act of love and responsibility. Planning ahead eases emotional and financial burdens for our loved ones.”
PhilPlans addresses this need through its Memorial Fund Plus (PMF Plus), which offers enhanced benefits beyond standard memorial plans. It includes immediate cash assistance, 24/7 support, and an annual 3 percent benefit growth. The plan is supported by over 300 mortuary partners nationwide and features a Living Cash Benefit to help plan holders meet immediate and future needs.
“We designed the plan to provide peace of mind for families when the time comes,” Jacob added. “It ensures that memorial expenses are covered, allowing families to focus on what truly matters—honoring and remembering their loved ones.”
Jacob also urged Filipinos to use All Saints’ Day as an opportunity to reflect on long-term care and security for future generations.
The PFI Group, which includes PhilFirst, PhilLife, and PhilCare, continues to promote a holistic ecosystem of protection, wellness, and security as it approaches PhilFirst’s 120th anniversary in January 2026.
