Why BDO Life’s Plan B is a Must for Every Pinoy Family
With life's uncertainties, plan B is necessary.
When life doesn’t go as planned, what’s your backup? For many Filipino families, the answer is unclear—until it’s too late. That’s why having a Plan B, like BDO Life insurance, is not just a smart move. It’s a must.
The Decline in Getting Life Insurance
In a recent survey, only 5 out of 10 breadwinners in NCR, Cebu, and Davao said life insurance is important. Even more alarming, the urgency of getting insured dropped from 83% in 2022 to just 54% in 2024. What changed? Experts say that while the pandemic opened eyes, financial struggles afterward made insurance take a backseat.
Still, across all income groups, people agree: life insurance helps protect families from the unexpected—be it illness, accidents, or sudden death. This is where a financial Plan B becomes crucial.
What is a Plan B?
Plan A is your usual savings and investments. But what happens if that gets disrupted? A Plan B, like life insurance, steps in to keep the family stable when disaster strikes.
READ: How BDO’s Accessible Services Are Changing Lives in Remote Communities
Take it from BDO Life financial advisor Jimmy, who shared a true story of a client who passed away after an accident. The client had quietly taken out a policy, and only told his wife about it when asking her to pay the premium—just a month before his death. That simple act changed everything for the grieving family. As his wife later said, “Akala mo di mo kailangan, pero kailangan mo pala.”
Misconceptions About Life Insurance
Many Filipinos shy away from life insurance because of common myths that simply aren’t true. Let’s break down some of the most common misconceptions:
“Hindi ko kaya. Wala sa budget.”
Reality: You don’t need to be rich to get insured.
Life insurance isn’t just for high-income earners. There are affordable plans designed for employees, freelancers, OFWs, and even small business owners. You can start with what you can afford now, and adjust coverage as your income grows.
“Bata pa ako, hindi ko pa kailangan ‘yan.”
Reality: The younger and healthier you are, the cheaper it is.
Getting insurance early locks in lower premiums. Think of it this way: You’re not paying for what might happen now—you’re securing peace of mind for tomorrow, while it’s still affordable.
“May savings naman ako, okay na ‘yon.”
Reality: Savings are not the same as protection.
Even a P100,000 emergency fund can be wiped out by one hospitalization or funeral. Life insurance provides a financial safety net that doesn’t touch your savings—so your kids’ tuition, rent, or business capital stays safe.
“Ang hirap intindihin. Baka maloko lang ako.”
Reality: That’s why financial advisors exist.
Reputable companies like BDO Life have trained professionals in every BDO branch to explain your options clearly. You can ask questions, get free quotes, and choose a plan that fits your family’s needs.
“Hindi ko naman agad magagamit.”
Reality: Many insurance plans now include living benefits.
From hospital income support to critical illness coverage or cash value you can borrow later, insurance today does more than prepare for death—it protects your quality of life.
BDO Life offers access to financial advisors in BDO branches nationwide. They’ll help you understand your options and recommend the best plan for you. You can even explore insurance products and get a quote online.
Protect Your Family with a Plan B
Life insurance is not an extra—it’s essential. It’s a selfless act that gives your loved ones security and peace of mind. As BDO Life President Renato Vergel De Dios said, “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.”
