• Headlines
  • City/Region News
    • Covid-19 Advisory and Updates
    • Baguio City
    • CAR
    • Nation
  • Sectoral news
    • Elections
      • Elections – 2022
      • Elections – 2019
    • Agriculture, Fishery and Pets
    • Business and Livelihood
    • Education, Arts & Culture
    • Environment and Disaster Management
    • Science, Health, and Welfare
      • covid-19 advisory and updates
    • Tourism, travel and Events
    • Other Lifestyle
    • Police Beat
  • Opinion
    • Editorial
    • Columns
    • Timek Ti Umili
  • Sports
    • Sports (Home)
    • Sports (Special Feature)
  • Other sections
    • Features
    • Photos/Videos
      • Photos
      • Videos
    • Words for reflection
    • Sponsored articles
    • Jobs in Baguio
    • Elections
  • Ads & Notices
    • Obituaries
  • About Us
    • About Us
    • Directory
    • Contribute
    • Advertise
    • Cookie Policy
    • Contact Us
HERALD EXPRESS | News in Cordillera and Northern Luzon
ADVERTISEMENT
  • Headlines
  • City/Region News
    • Covid-19 Advisory and Updates
    • Baguio City
    • CAR
    • Nation
  • Sectoral news
    • Elections
      • Elections – 2022
      • Elections – 2019
    • Agriculture, Fishery and Pets
    • Business and Livelihood
    • Education, Arts & Culture
    • Environment and Disaster Management
    • Science, Health, and Welfare
      • covid-19 advisory and updates
    • Tourism, travel and Events
    • Other Lifestyle
    • Police Beat
  • Opinion
    • Editorial
    • Columns
    • Timek Ti Umili
  • Sports
    • Sports (Home)
    • Sports (Special Feature)
  • Other sections
    • Features
    • Photos/Videos
      • Photos
      • Videos
    • Words for reflection
    • Sponsored articles
    • Jobs in Baguio
    • Elections
  • Ads & Notices
    • Obituaries
  • About Us
    • About Us
    • Directory
    • Contribute
    • Advertise
    • Cookie Policy
    • Contact Us
No Result
View All Result
  • Headlines
  • City/Region News
    • Covid-19 Advisory and Updates
    • Baguio City
    • CAR
    • Nation
  • Sectoral news
    • Elections
      • Elections – 2022
      • Elections – 2019
    • Agriculture, Fishery and Pets
    • Business and Livelihood
    • Education, Arts & Culture
    • Environment and Disaster Management
    • Science, Health, and Welfare
      • covid-19 advisory and updates
    • Tourism, travel and Events
    • Other Lifestyle
    • Police Beat
  • Opinion
    • Editorial
    • Columns
    • Timek Ti Umili
  • Sports
    • Sports (Home)
    • Sports (Special Feature)
  • Other sections
    • Features
    • Photos/Videos
      • Photos
      • Videos
    • Words for reflection
    • Sponsored articles
    • Jobs in Baguio
    • Elections
  • Ads & Notices
    • Obituaries
  • About Us
    • About Us
    • Directory
    • Contribute
    • Advertise
    • Cookie Policy
    • Contact Us
No Result
View All Result
HERALD EXPRESS | News in Cordillera and Northern Luzon
No Result
View All Result
Home Lifestyle

Filipinos families at risk as breadwinners continue to be uninsured

Press Release by Press Release
June 22, 2022
in Lifestyle
Reading Time: 3 mins read
133 3
0
BDO Life gives free additional benefits to policyholders
72
SHARES
715
VIEWS
Share on FacebookShare on Twitter

Research conducted by Swiss Re Institute indicated that 75 percent of families in developing countries like the Philippines are vulnerable to emotional devastation and loss of income when a family breadwinner or income-owner passes away. This is known as the mortality protection gap.

It’s typical for a healthy breadwinner with a steady income stream to think of himself as a “superman” who will always be around to provide for his family. However, the possibility of serious illness, disability, or even premature death constantly looms over this “superman” idea and ignoring these threats will not make them go away.

Without a Plan B in the form of proper financial planning and a risk management plan, households are left vulnerable to financial ruin.

RelatedPosts

Pangasinan PPO reminds motorists to observe road safety

8 Must-Include Furniture You Need for Your Home

Why Water Scarcity Remains a Challenge in Vulnerable PH Regions

How a Plan B protects the family from emotional and financial distress

“A lot of Filipino breadwinners, especially those in the middle-class, know that if anything unpleasant happens to them, their families will be severely affected. How will their family pay for housing? Utility expenses? How will their children continue their schooling? How will they pay for their daily needs? Unfortunately, many do not face this reality or prepare for the worst. Doing so underestimates the potential financial impact on their families,” said Renato Vergel De Dios, President and CEO of BDO Life, a wholly-owned subsidiary of BDO Unibank.

Vergel De Dios pointed out how the coronavirus pandemic proved how financially vulnerable Filipino families are. “In the past two years, we’ve all lost a relative or a friend to COVID-19. One day, they’re okay. A few days later, we hear that they were rushed to the emergency room. We next learn that they’ve been hooked up to a ventilator. A few days later, they’re gone. This pandemic has served as a wake-up call to the fact that we need to be financially prepared for such contingencies,” he explained.

To protect families from financial vulnerability, Vergel De Dios advised that aside from saving money to fund emergencies and future plans, it’s most important to have a Plan B aka life insurance.

ADVERTISEMENT

“Life insurance is the ultimate Plan B. When the breadwinner passes away, it provides funds to family members and buys them time from a few months to a few years to readjust their lives. It’s hard enough for family members who are grieving over the death of a parent or a spouse. It is heartless, to say the least, to impose on them the financial responsibility to pay for the next round of bills. They deserve to be protected from all that pain and suffering. And life insurance is the only financial instrument that can alleviate that,” said Vergel De Dios.

Vergel De Dios added that because the life insurance industry has thrived for over a century in the Philippines, breadwinners are assured of a dependable and trustworthy source of financial protection for their loved ones. Being without it is equivalent to thrusting one’s family to journey across the turbulent sea of life with only a life jacket on.

“We all assume that we will always stay healthy, that we will always be around to bring home the required family income month after month. But life makes no guarantees. A high-paying job, a successful business, and reasonably good health these are no assurances that our family’s financial security is assured, without a Plan B. Just ask the family members of individuals with those same qualities yet who lost their lives during the pandemic,” concluded Vergel De Dios.

Share29Tweet18Send
ADVERTISEMENT
Previous Post

City bullish on tax collection efforts

Next Post

Nueva Vizcaya IPs deny being squatters in Runruno domain

Press Release

Press Release

Related Posts

LTO, TESDA to forge accord on free driving courses

Pangasinan PPO reminds motorists to observe road safety

by Press Release
January 3, 2023
0

DAGUPAN CITY – The Pangasinan Police Provincial Office (PPPO) reminded all motorists anew to check not only their cars before...

8 Must-Include Furniture You Need for Your Home

8 Must-Include Furniture You Need for Your Home

by ---
December 22, 2022
0

One defining element of a complete and comfortable home is its furniture. For that reason, most people see furniture as...

Schools required to provide drinking water for students

Why Water Scarcity Remains a Challenge in Vulnerable PH Regions

by ---
December 8, 2022
0

More and more regions of the Philippines are undergoing a serious water supply crisis. Even locations that were previously water-rich...

Next Post
Nueva Vizcaya IPs deny being squatters in Runruno domain

Nueva Vizcaya IPs deny being squatters in Runruno domain

BLISTT officials urged to salvage proposed law

NEDA-CAR conducts Spatial Mapping Workshop for the BLISTT

21 die due to dengue in Cordillera

Baguio steps up used tires collection to curb dengue

ADVERTISEMENT

Recent News

Cayetano’s ‘Presyo Trabaho Kita/Kaayusan’ (PTK) program continues to empower Davaoeños post-pandemic

Cayetano’s ‘Presyo Trabaho Kita/Kaayusan’ (PTK) program continues to empower Davaoeños post-pandemic

January 27, 2023
Tabuk mayor commits more patrol vehicles for PNP

Tabuk benchmarks “Smart City Concept” from Cauayan City

January 27, 2023
Impact study on Cervantes-Mankayan-Abatan road underway

NEDA-CAR briefs PS Representatives on region’s dev’t direction

January 27, 2023
DAR launches P11 million projects in Kalinga

DAR-CAR gets 25 motorcycles to hasten parcelization of land holdings

January 27, 2023
ADVERTISEMENT
HERALD EXPRESS | News in Cordillera and Northern Luzon

Herald Express is a news organization based in Baguio City that has a weekly publication and an online news portal. The newspaper is circulated in the different provinces of Northern Luzon. The name of the fastest-growing publication in town is coined from the word ‘quick messenger’ which is self-explanatory.

Follow Us

Search

No Result
View All Result
  • Headlines
  • City/Region News
  • Sectoral news
  • Opinion
  • Sports
  • Other sections
  • Ads & Notices
  • About Us

© 2022 Baguio Herald Express - Website Design by Neitiviti Studios.

No Result
View All Result
  • Headlines
  • City/Region News
    • Covid-19 Advisory and Updates
    • Baguio City
    • CAR
    • Nation
  • Sectoral news
    • Elections
      • Elections – 2022
      • Elections – 2019
    • Agriculture, Fishery and Pets
    • Business and Livelihood
    • Education, Arts & Culture
    • Environment and Disaster Management
    • Science, Health, and Welfare
      • covid-19 advisory and updates
    • Tourism, travel and Events
    • Other Lifestyle
    • Police Beat
  • Opinion
    • Editorial
    • Columns
    • Timek Ti Umili
  • Sports
    • Sports (Home)
    • Sports (Special Feature)
  • Other sections
    • Features
    • Photos/Videos
      • Photos
      • Videos
    • Words for reflection
    • Sponsored articles
    • Jobs in Baguio
    • Elections
  • Ads & Notices
    • Obituaries
  • About Us
    • About Us
    • Directory
    • Contribute
    • Advertise
    • Cookie Policy
    • Contact Us

© 2022 Baguio Herald Express - Website Design by Neitiviti Studios.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept All”, you consent to the use of ALL the cookies. However, you may visit "Cookie Settings" to provide a controlled consent.
Cookie SettingsAccept All
Manage consent

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
CookieDurationDescription
cookielawinfo-checkbox-analytics11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checkbox-functional11 monthsThe cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checkbox-necessary11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-others11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-performance11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
viewed_cookie_policy11 monthsThe cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
Functional
Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
Performance
Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
Analytics
Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
Advertisement
Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.
Others
Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet.
SAVE & ACCEPT

Add New Playlist