RAISING children. Caring for aging parents. Planning for your own future.
For many Filipino families, these responsibilities don’t come one at a time. They happen together, often leaving working adults to stretch their finances across two generations while trying to prepare for what lies ahead.
This is the reality of the “sandwich generation”—parents who are supporting their children while also helping care for their own aging parents.
Being the family breadwinner already comes with plenty of responsibilities. But when two generations depend on you, an unexpected illness, disability, or loss of income can affect more than your own financial plans. It can put your family’s goals and day-to-day needs at risk.
What the numbers reveal
The recent findings of a Synergy-YouGov study show that securing protection and insurance is increasingly seen not just as a personal financial decision, but as an essential responsibility to one’s family.
Among Filipinos considering insurance, the top motivations reflect both immediate and long-term family needs. Health protection remains the leading concern, while retirement planning also ranks high, highlighting the desire to stay financially independent later in life and avoid becoming a burden to loved ones.
The survey also underscores how deeply family-centered financial planning has become. Nearly equal quantity of respondents cited funding their children’s education (35%) and supporting parents or relatives (34%) as key reasons for considering insurance. These findings reflect the reality faced by many working Filipinos who must balance the needs of multiple generations at the same time.
Covered for the future
Beyond managing day-to-day expenses, members of the sandwich generation are burdened with the responsibility of safeguarding their family’s future.
“Many Filipinos today carry the responsibility of supporting both the next and previous generation. Life insurance helps ensure that no matter what happens, their families can continue pursuing their goals and meeting their needs,” shares Renato Vergel De Dios, President and CEO of BDO Life. “Ang pamilya mo ang nangangailangan ng Plan B.”
Ready to give your loved ones the gift of financial security? Talk to a BDO Life Financial Advisor at the branch nearest you, or visit the BDO Life Get a Quote page on the BDO website to explore life insurance solutions that align with your financial goals and budget. (Manny D. Balbin)
