Philstar
Young Filipinos want life protection but overlook burial costs — study
A study by PhilPlans First Inc. found that young Filipinos prioritize family protection, with 78% viewing it as the most crucial insurance benefit and 67% wanting coverage for the loss of life within three years.
Despite this focus on life protection, only 24% of Gen Y and Gen Z respondents include burial assistance in their financial plans, ranking it tenth out of eleven options.
PhilPlans president and CEO Monico V. Jacob stated that planning for the inevitable is an act of love and responsibility that eases the burden on loved ones.
To address this gap, PhilPlans has introduced a new memorial plan that offers immediate cash assistance, 24/7 support, and an annual benefit growth of 3%, going beyond traditional memorial plans.
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