When you are insured, you have a guaranteed source of money to cushion the blow of an expensive medical bill or a sudden loss of income. You can also use it to kick off your investing journey, helping build up the funds for future needs such as education for your children and retirement. Simply put, life insurance makes all the difference when things do not go as planned.
Knowing how beneficial life insurance can be, it is troubling to know that majority of the insurable population in the Philippines still miss the benefits that come with being financially protected.
“Financial advisors – commission-based agents or bank staff - usually push for hefty premiums and long commitments to maximize their income. Client, however, are after solutions that fit their financial needs, can be adjusted whenever their needs or preferences change, and have the least impact on their budget.”
Singlife Philippines recognizes this conflict and uses the smartest technologies to offer products that are meaningful and easy to understand, giving you and your family the right amount of coverage at the best possible price. These products include tools that help you understand your financial needs and manage your finances better. They can be adjusted or stopped at any time with zero cost, knowing financial situations can change in a snap. All of these can be accessed and managed anytime, anywhere using only your mobile phone. With Singlife, you know you are always in control.
“It’s alarming that life insurance only has single-digit penetration in the country when there are millions who can benefit greatly from it,” said Rex Mendoza, Chairman of the Board of Singlife Philippines. “Indeed, there has been an increase over the years, but we also know that a significant percentage of those who do have life insurance now do not have sufficient coverage.”
Both Rien and Rex have served as CEOs in life insurance companies that ranked in the top 3 of the local market. They have witnessed how financial services evolved through the years. More importantly, they have seen the gaps that still need to be filled to ensure a better financial future for every Juan.
“By redesigning protection products using modern-day technologies, we make it possible for more people to take control of how they save and get protected,” added Rien. “Our use of these technologies also ensures that our customers get the same seamless, end-to-end digital experience that they are used to with other digital services.”