Are Pinoys ready to insure love?
ILLUSTRATION BY RUTH MACAPAGAL
MANILA, Philippines — Why don’t we insure love in the same way we insure life, property or health?”
That question stayed with me after watching The Divorce Insurance, a new South Korean series now streaming on Amazon Prime Video. The plot centers on an actuary who, after going through divorce three times, develops a new kind of insurance policy—one that pays out when a marriage ends.
At first, it sounds like a quirky rom-com concept. But as someone immersed in innovation, I couldn’t help but ask: What if this fictional idea could become a real product?
READ: Philippine insurance sector to outpace global growth
Spotting an underserved need
Marketers and innovators are trained to identify unmet needs and latent demand. In product development, we always begin with a simple question: What problem does this solve?
Divorce is not just an emotional upheaval; it often comes with serious financial consequences. From legal fees and housing costs to child care and counseling, the burden can be overwhelming.
Seen from this lens, divorce insurance could be positioned not as a pessimistic bet against marriage, but as a pragmatic planning tool. It could be positioned as a financial wellness product, a support system for major life transitions or even a form of emotional security.
READ: Survey: Half of Filipinos for divorce; 1/3 against
How it works
Divorce insurance provides a lump-sum payout after a legal divorce, subject to conditions like a waiting period and eligibility criteria. It’s not entirely new. Way back in 2010, a startup in North Carolina called SafeGuard Guaranty Corporation introduced WedLock Divorce Insurance. The product gained some attention but didn’t scale, due likely to a mix of consumer skepticism, regulatory ambiguity and cultural resistance.
Eventually, the company rebranded the product as Marriage Assurances, adding a long-term benefit for couples who remain married, a feature that subtly reframes the product as relationship-neutral rather than divorce-driven.
Ethical questions and practical safeguards
One of the biggest criticisms is whether divorce insurance might actually encourage divorce. But this concern rests on a misunderstanding of how insurance works. Life insurance isn’t a wish for death. Fire insurance doesn’t incite arson. Car insurance doesn’t lead to reckless driving. Divorce insurance, in the same way, isn’t about promoting separation; it’s about preparation. These products exist to mitigate loss, not to create it.
Still, ethical concerns must be taken seriously. Safeguards are key. Policies could require that couples be legally married, undergo risk assessments, observe a waiting period before eligibility kicks in and undergo mandatory marital counseling. Tiered pricing based on risk scoring, payout caps and optional counseling services can further help align incentives.
Opponents might also argue that the product commodifies marriage. But in many ways, we already do this, through prenuptial agreements, financial planning tools and estate arrangements. Divorce insurance is just one more way to recognize that relationships, like businesses or homes, carry both emotional and financial stakes.
Would it work in the Philippines?
Divorce is not yet legal in the Philippines, making legal separation the closest alternative.
But the public conversation is shifting. Legislative proposals continue to resurface and cultural attitudes are evolving, particularly among younger Filipinos and overseas Filipino worker (OFW) families exposed to global norms.
READ: Divorce bill gains ground in House
If divorce becomes legal in the Philippines, four potential market segments for divorce insurance stand out:
• OFWs managing long-distance marriages, often strained by time and distance;
• Dual-career professionals facing complex financial interdependence and time poverty
• Young couples navigating the early stages of marriage with limited financial safety nets; and
• Couples dealing with frequent in-law interference, a culturally sensitive but common pain point in Filipino households.
These segments highlight unmet needs and emotional triggers that a new category, divorce insurance, can address through innovation, empathy and risk management. Each of these groups could benefit from tools that acknowledge both the idealism and fragility of modern relationships.
Designing products for vulnerability
Product innovation isn’t just about novelty; it’s about cultural timing. The idea of divorce insurance might seem provocative today, but so did life insurance in the 18th century. What seems strange now might simply be early.
The most important products of the future will not just protect physical assets; they will safeguard our mental well-being, emotional transitions and social relationships. These are the new frontiers of value creation.
It’s because sometimes, the most forward-thinking thing we can do is prepare for the things we hope never happen. —CONTRIBUTED
Josiah Go is chair and chief innovation strategist of Mansmith and Fielders Inc. The search for the 5th Mansmith Innovation Awards is ongoing. The 1st Mansmith Product Masters Summit is on June 24 at the Carlos P. Romulo Auditorium, Makati. Email [email protected] for more details.
