End-of-life planning is healthy, practical–insurer
UNDOUBTEDLY, the Covid-19 crisis is a very tragic part of human history to date, claiming millions of lives internationally. When this novel virus first came out in China at the latter part of 2019 and abruptly hit the rest of the world the following year, the entire globe was caught unprepared to curb its alarmingly immediate spread.
Almost all the nations were not spared from the massive impact of this fatal disease, overwhelming the health systems, particularly of the Third World countries like the Philippines. This deadly virus also brought immense fear among the general public given the recorded high mortality rates over time. Mental issues also emerged due to uncertainties as to when this would end, most especially to those people with co-morbidities who are considered more susceptible to contracting such illness.
The grim scenario of hospitals overflowing with patients fighting for their lives; the piling of dead bodies waiting to be cremated in private funerals homes or public crematories; and the denial of traditional, decent death rites in favor of hurried, impersonal incinerations have caused grave concern, inconvenience, distress, grief, and even trauma to both the survivors and families left behind by the deceased victims.
Silver lining
THERE still, however, appeared a silver lining no matter how gloomy this health malady has been, according to Philplans Chief Sales and Marketing Officer Ronald Bautista.
“When Covid-19 happened, it made us realize that there’s really a need for a memorial plan or a proper memorial service,” he said during a panel discussion at the Philplans’ 35th Anniversary: Empowered Entrepreneur Bazaar event that was held in Makati City last April 17, 2024.
In fact, he told reporters that the memorial plan, which used to be the least performer among their three products pre-covid period, has become the leader from its onset to postpandemic, accounting for up to 65 percent of their total sales. Pension and education plans now rank at second (30 percent) and third (5 percent), respectively.
“We’re thankful that since the pandemic, there has been openness to everybody,” Pearl Siasoco, area manager at Siasoco & Associates, noted of the positive market reception on memorial plans at present.
Needless to say, such insurance products need further pushing to Filipinos who openly value and celebrate familial ties, but discreet when it comes to discussion about death.
“For generations, Filipino families have prioritized strong bonds, yet a crucial conversation has often been left unspoken,” said Philplans Assistant Vice President Edgardo P. Aytona. “The tide is turning. We’re thrilled to see more Filipinos recognizing the importance of pre-planning for end-of-life needs. By taking the time to discuss and plan preferences, families can navigate this difficult time with greater emotional and logistical ease, allowing them to focus on cherishing the memory of their dearly beloved.”
Plan for death
PLANNING ahead for death goes far beyond the practicalities of arranging one’s funeral.
Thinking about resting in peace could be detrimental to mental and well-being, especially for those who are sick. So for memorial planholders, they need not have to worry on their burial, thus relieving them from the stress or anxiety on whether their death wish and will be granted. Feeling secured and fulfilled, this could somehow positively impact them physically, emotionally and psychologically.
On the part of their dependents, it would be painful to lose their loved ones, much more of the urgent need to make important decisions about their final desires. Unplanned passing can leave families in emotional turmoil, not to mention struggling with financial encumbrances and contradicting choices. Hence, it’s unhealthy not only to their hearts, but also to their families’ financial status and relationship.
Philplans understands the sensitive issue of end-of-life planning given the still conservative Filipino culture. Nevertheless, the insurer believes it’s a family matter that needs to be discussed because the pros outweigh the cons. To allay fears and discomfort about pre-planning, the industry leader offers various tips on how to start these conversations with sensitivity.
Start small, per the firm, by sharing your thoughts on deathcare options, like cremation or memorial gardens. Then, focus on honoring loved one’s death wishes. Next, listen with empathy through acknowledging the emotional weight of the topic and creating a safe space for open communication.
Gathering of information
TO get started with the planning for death, Philplans suggest the proper gathering of information on different pre-need plan options and their benefits. The company offers a variety of customizable packages to suit individual needs.
In initiating the conversation, choose a calm and private moment to talk to dear ones. Work together with them by talking about preferences for end-of-life care, funeral arrangements, and memorial services.
Don’t forget to document your wishes. Writing down your preferences for medical care, financial matters, funeral arrangements, and other pertinent details guarantees that your wishes are known and followed.
Not to be ignored, of course, is consultation with professionals. Through the guidance of a team of experienced estate planners, lawyers and financial advisors, you are assured that each pre-planning aspect is handled effectively, giving you the confidence that your final wants will be carried out smoothly.
“No one understands your journey better than you do. By proactively planning, you provide your loved ones with a roadmap on how to honor your legacy with warmth and affection,” said Philplans President and Chief Executive Officer Jaime B. Dizon.
“Consider the relief you could offer to your friends and family. By sparing them from tough decisions during an emotional time, you give them the space to reminisce and celebrate their fond memories of you, knowing they are fulfilling your final wishes exactly the way you wanted it to be. It is a profound act of love and a final gift to those you cherish,” he added.