What to do when life doesn’t go according to Plan A?

We Filipinos are well-known for our resilience and determination to press onward no matter what life throws at us. No matter how difficult life can get, we somehow still manage to make the best of what we have. We are also very family-oriented people, always putting our loved ones’ needs first before our own; sometimes to a point where we neglect our own well-being just to ensure theirs.

There are certain things in life, however, that we cannot always overcome. These are illnesses, accidents, and death. When these risks come knocking on our door, they can destroy everything we’ve worked hard to build in a snap. To protect our families, we need more than resilience and determination. We need a back-up plan.

Making a back-up plan with life insurance

But what is a back-up plan? A back-up plan – or a Plan B – acts as our family’s shield or safety net – a tool that can protect our family’s assets if anything bad happens to us.

Our assets include our savings, investments, our car, and our home to name a few. While having an emergency fund forms part of a healthy financial portfolio, it may not be enough to act as an effective back-up plan, especially if we fall terminally ill or worse, pass away.

A solid Plan B should help us maintain our family’s standard of living and ensure they have a future to look forward to, with or without us in the picture.

So what’s the best plan B for life’s uncertainties? The answer is actually simple and practical – life insurance. For those of us who have dependents – our parents, our spouse, our kids, our siblings – life insurance ensures that whether we pass away or become terminally ill or disabled, we can still provide for their needs.

The moment something bad happens to us, life insurance immediately releases much-needed cash to our dependents to keep the kids in school, support our elderly parents, pay for rent, shoulder daily household expenses, and essentially keep their lives going.

A Love Letter to those you hold dear

It can be difficult to imagine a future where you can’t be there to protect and care for your loved ones. But think of it this way – life insurance is for your loved ones. It’s your love letter to your family that encourages them to keep going and pursuing the life and the dreams you’ve built together, even if you’re no longer around. It means planning ahead, not only a plan A, but also a plan B, affirming your enduring care and foresight for their well-being. It’s a tangible expression of love that transcends presence and time.

Not sure where to start? A Financial Advisor can help you out

With so many life insurance products out there, finding the right Plan B can feel overwhelming, especially if we’re new to it. A good way to get started is by having a chat with someone knowledgeable, like a Financial Advisor (FA). Good thing, BDO Life makes it easy and convenient for busy folks like you and me to find an FA, because there’s one in every BDO branch!

You can just pop into the nearest BDO bank near you and have a free consultation with their FA. They can help you assess your financial priorities before recommending a plan. You don’t have to spend half your income just to get insured. You can talk to your FA about your budget and how much you can reasonably shell out then they will take care of the rest. Remember, it’s important to start somewhere and just build on it as you start earning more.

For more information about BDO Life’s insurance programs and how to start your Plan B journey, you can check out their website. Better yet, just visit any BDO branch anytime to have a chat with a BDO Life Financial Advisor who will be more than happy to help you out.

INQUIRER.net BrandRoom/TJV/VTL