Many younger Filipinos are eager to protect their families from life’s uncertainties, but few are financially prepared for one of its most certain events: death.
Results of the 2024 “PhilLife Meter: Feeling the Insurance Pulse of Pinoy Gen Y and Z” study show that 78% of young Filipinos consider family protection as the most important benefit of insurance, and 67% identify ‘loss of life’ as the unforeseen event they most want protection for in the next three years. However, only 24% include burial assistance in their plans, ranking it 10th among 11 choices.
Recognizing this gap, PhilPans, the pre-need arm of the Philippines First Insurance Group (PFI Group) is urging young Filipinos to see memorial planning as part of their financial protection goals.
“Filipinos are naturally caring and family-oriented, but we often shy away from planning for life’s end,” notes Atty. Monico V. Jacob, President and CEO of PhilPlans. “Being prepared for the inevitable is actually an act of love and responsibility. Planning ahead eases emotional and financial burdens for our loved ones.”
PhilPlans responds to this need through its Memorial Fund Plus (PMF Plus) – a plan that offers enhanced benefits beyond the standard memorial plan which provides immediate cash assistance and 24/7 support. The PMF Plus, in addition, provides an annual benefit growth of 3%.
PhilPlans is backed by over 300 mortuary partners nationwide and even offers a Living Cash Benefit to help Planholders with their immediate and future needs.
“We designed the plan to provide peace of mind for families when the time comes. It ensures that memorial expenses are covered, allowing families to focus on what truly matters—honoring and remembering their loved ones,” Jacob said. “It is our hope that many would take All Saints’ Day as a time to also reflect on taking steps toward ensuring lasting care and security for the next generation.”
The PFI Group is a complete ecosystem of protection, wellness, and security that also includes PhilFirst, the country’s first domestic non-life company; PhilLife, a trusted life insurer; and PhilCare, one of the country’s leading HMO providers. As PhilFirst marks its 120th anniversary in January 2026, the Group continues its mission of providing comprehensive care and security for Filipino families.
For more information about the Memorial Fund Plus or PhilPlans, visit www.philplans.com.ph or email memorialplan@philplans.com.ph.
