My dad once sat me down for the talk. Not birds and bees. Insurance. It was about as fun as watching cement dry, but he nailed it with one line: “Insurance is like a spare tire. You don’t need it every day, but you’ll always feel safer it’s there.” That stuck. Now that I’m a parent, I keep that spare tire ready for my family too.
Here’s the reality check in plain, simple terms. The EastWest Ageas PURPLE (Purpose + People) Report with NielsenIQ says most Filipinos have about ₱50,000 set aside, and only two in ten have more than three months saved. The Philippine Statistics Authority (PSA) adds that heart disease is the top cause of death, and a single hospital stay can rack up to ₱690,000. That’s a lot to take in, but the bottom line is this: having a fund helps, but it isn’t enough.
Insurance turns “I hope we’ll be okay” into “we’ve got a plan.” Here are five reasons to add it now, each with a myth to bust and a quick action.
1. It makes chaos manageable
A good policy lays out what to do when life swerves. Hospital cover, income protection, and other benefits help keep your household steady so you can focus on getting better, not on bills.
Myth: Insurance is only for older people.
Fact: Starting younger usually means lower payments and longer protection.
Do this now: Write down the one risk that worries you most and get cover for that first.
2. You can start small and grow
You don’t need a perfect budget to begin. Start with a plan you can afford, then add more protection as your income improves. Think coffee-a-day money. Starter plans like DreamBuilder are made for this grow-as-you-go path.
Myth: You need a big budget to start.
Fact: You can begin with a small daily or monthly amount and add more later.
Do this now: If you don’t have one yet, open a simple savings account or e-wallet pocket named “Future You.” Set a small auto-transfer every payday (about a coffee a day), then set a reminder to increase it in 6–12 months.
3. It protects dreams, not just pays bills
Medical surprises do more than drain cash. They delay plans. The right cover keeps big goals on track, from a first home to grad school to the side hustle you’re building at night.
Myth: Insurance kills YOLO.
Fact: It lets you enjoy life while protecting future you.
Do this now: List two goals you don’t want to delay and match each one with the kind of cover that would protect it.
4. It fits real life and real cash flow
Budgets are tight. Today’s policies are flexible. You can choose how often you pay, mix different protections, and change things as life changes.
Myth: My HMO is enough.
Fact: HMO helps with some medical costs but doesn’t replace income or cover large critical illness needs.
Do this now: Write the benefits you need this year and which ones you can add next year so you don’t strain your budget.
5. Access is easier than you think
Getting help and learning the basics doesn’t require special status. You can compare options, read simple explainers, and move at your own pace.
Myth: You need to be a bank customer to buy insurance.
Fact: You don’t. Most insurers, like EastWest Ageas, accept clients who aren’t bank customers. You can also learn from short explainers like the FYP Series at purple.com.ph.
Do this now: Book a short chat with a licensed advisor or read a beginner-friendly explainer to understand terms before you choose.
Enjoy the coffee, fund the future
This isn’t about saying no to small joys. Keep the coffee. Keep your weekends. Just set aside a small amount for “future you.” If your starter amount is about the price of a coffee a day, add it to your monthly budget. You enjoy your money now and still prepare for what’s ahead.
Building wealth isn’t only about growing what you have. It’s also about protecting it so you can keep moving, even when the road gets rough. Terms and benefits vary by provider, so read the details, start small, and grow your cover over time.