Pandemic Sparks Surging Demand for Insurance Protection

The COVID-19 pandemic has reshaped how people view insurance and financial preparedness. With uncertainty still present, more Filipinos are recognizing the importance of having a reliable plan to protect their families and future. The demand for life policies and investment-linked coverage has surged, showing a shift in priorities toward long-term security.

The Cost of Being Unprotected

Many Filipinos continue to face financial strain due to the lack of adequate health and life coverage. With rising medical expenses, unexpected emergencies can create significant financial burdens, especially for those without sufficient insurance. A recent survey revealed that 87% of Filipino respondents plan to purchase a new policy in the coming months. This reflects a steady increase in demand across Asia, rising from 62% in May 2020 to 71% in November 2020.

“The lockdowns have made Filipinos more aware of the need to prioritize their well-being and financial security,” experts say. The pandemic has highlighted the risks of being unprepared for medical emergencies and the importance of having a comprehensive protection plan.

Why More People Are Seeking Protection

Before the pandemic, many individuals viewed insurance as an unnecessary expense. However, the economic downturn and increased health risks have demonstrated that having a safety net is not just a luxury but a necessity.

A well-structured plan acts as a buffer against unexpected costs, ensuring that families are not burdened by overwhelming hospital expenses. Whether it’s emergency care, loss of income, or unforeseen health concerns, having proper insurance coverage can make a significant difference in financial stability.

Rising Interest in Investment-Linked Policies

Recognizing the increased demand for financial planning, Manulife Philippines recently launched “Invest in You,” a free financial wellness webinar hosted by James Deakin. The event provided insights into how Variable Unit-Linked (VUL) life insurance solutions offer both growth opportunities and security.

Marvin Germo, a financial expert, emphasized the importance of diversifying investments and how VUL policies serve as both a financial shield and an opportunity for wealth accumulation.

“When investing, it’s crucial to place funds in platforms that work for you while allowing you to follow your passions,” Germo explained. “VUL insurance enables this balance by providing financial protection while also allowing funds to grow over time.”

Balancing Risk and Stability

While vaccination rollouts and economic reopenings bring hope, financial experts warn that global health risks continue to pose challenges. Investors must take a long-term perspective when planning their financial future. Diversifying assets and securing comprehensive insurance policies has become more critical than ever.

As corporate earnings and GDP growth continue to fluctuate, individuals must remain cautious and make informed financial decisions. Whether you’re new to financial planning or looking to enhance your investment strategy, having a reliable insurance plan ensures you and your family remain financially secure no matter what happens.

Why Comprehensive Coverage is a Smart Investment

Unlike traditional savings, life insurance policies provide a dual benefit—they offer security while also allowing policyholders to accumulate wealth. Many Filipinos are now considering investment-linked solutions because of their flexibility and long-term growth potential.

Aside from serving as an income replacement in case of unexpected events, these plans can also help individuals achieve financial goals, such as buying a home, funding education, or planning for retirement. With these added benefits, financial protection is no longer just about safety—it’s a valuable tool for wealth-building.

How to Choose the Right Policy

With so many options available in the market, selecting the right one can feel overwhelming. Here are a few factors to consider when choosing an insurance plan:

✅ Coverage Amount – Ensure that the policy provides adequate protection for your loved ones.
✅ Premium Affordability – Choose a plan that fits your budget without compromising essential benefits.
✅ Investment Options – If you’re considering VUL insurance, review the fund choices and their growth potential.
✅ Provider Reputation – Select a company with a strong track record of reliability and excellent customer service.
✅ Policy Flexibility – Look for plans that allow adjustments based on changing financial needs.

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Disclaimer: Information on this site is for informational purposes only and should not be considered financial advice. We are not financial advisors, and our content should not be taken as professional recommendations. Consult a qualified financial advisor before making any decisions. We are not liable for any losses resulting from reliance on our content.

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