What's your Plan B? Discover the value of having life insurance for yourself and your family

MANILA, Philippines — Life is unpredictable. We can plan and dream for the future, but there’s no telling what will happen.

When Jerome decided to provide his parents a better life by, he took on the risk of braving giant waves at sea for many years as a seafarer. But in one of his home visit, he passed away due to freak accident.

Fortunately, Jerome was able to plan years ahead. Through his life insurance plan, he was still able to take care of his parents even if he was no longer around.

Like Jerome, we can only do so much to stay on track of our dreams and goals for ourselves and our loved ones. We can work hard, save up, eat healthy, drive with caution. But with life’s many twists and turns, anything can change in the blink of an eye.

And this is where life insurance—a safety net or Plan B—comes in. While the idea of getting insured conjures up morbid thoughts about the brevity of life, it’s something we as adults must consider.

Unlike Jerome, many Filipino breadwinners are not adequately protected with a Plan B leaving their families to deal with financial difficulties when they pass away. So, what is the cost of not having a Plan B? Here, we shed light on why taking action and insuring yourself now is more important than ever.

Say you are your family’s breadwinner, or even a household contributor—in their eyes, you’re their hero. In as much as you are a hero, you are also just human—prone to sickness, disability and death.

If any of these were to happen to you, where will your family get money for their basic needs like food? How will they finish school? Where will they go if they can’t pay the rent or mortgage?

It’s a frightening thought, but it can happen. And this terrible reality happens to many families every day. As part of dealing with lost income, many families resort to crowdfunding. Asking for donations is never bad, but it’s an unfortunate trend for those struggling to afford heavy medical bills and, worse, funerals.

It’s heartbreaking, especially when an affordable life insurance policy could have provided the financial support needed.

Life insurance acts as your back-up during these dire situations. It works by giving your family access to