BDO Life urges Filipinos to rethink their Plan B

From 83% to 54%: Why Fewer Filipinos Prioritize Life Insurance

Only 5 out of every 10 breadwinners in the National Capital Region, Cebu, and Davao consider life insurance as important. This is based on a recent market survey by BDO Life and research network Acorn. More alarming is the declining sense of urgency even after the pandemic. From 83% in 2022, the 2024 survey shows only 54% of respondents believe owning protection is important.

Plan B is more than just a backup plan—it's a lasting promise that your family’s future stays protected even when life takes an unexpected turn.

The most cited reason why insurance penetration remains low is budget constraints. Many individuals prioritize more pressing bills over securing their future. Yet in the face of death, accident, or calamity, life insurance is not an option but a selfless act of putting loved ones first.

 

By being present at BDO branches nationwide, BDO Life has made life insurance more accessible to customers. While information is readily available online, many still prefer to speak with insurance specialists. This puts BDO Life’s Financial Advisors in a positive position to become lifelong financial partners of clients.

 

In these heartfelt stories, Financial Advisors share real-life experiences of beneficiaries who were shielded from life’s unexpected storms because they had a ‘Plan B.’

 

Being Ready with a Plan B if Plan A fails

 

BDO Life Financial Advisor Jimmy recalled an incident during a family outing when a client was involved in a vehicular accident, and sadly, did not survive. In a fateful coincidence, his wife found out he had life insurance only a month before, when he asked her to pay the premium. She wrote to say, “Akala mo di mo kailangan, pero kailangan mo pala. Dati para sa akin, dagdag expenses lang.”

 

BDO Life Financial Advisor Jonah shared a similar story that shows how unpredictable life is. "Nakita ko na kahit healthy ang isang tao, death can happen anytime.” One of her clients, who owned a water refilling station and construction firm, was gone too soon. Thankfully, he had a Plan B in place. Using the proceeds of his life insurance policy, his family was able to keep his businesses running. In turn, his family was able to continue receiving income and maintain their standard of living, even if he was no longer in the picture. 

 

The concept of having a Plan B is something BDO Life Financial Advisor Randy stresses to his clients. “We all have a Plan A, which consists of our present standard of living, as well as our plans and dreams for the future. But life has so many risks, anytime pwedeng may mangyaring hindi inaasahan.”

 

"It’s our job as Financial Advisors to help clients recognize the need a Plan B para ma-protektahan ang pamilya financially for unexpected events, at hindi ma-disrupt ang Plan A.” This was the case of one of his clients, who had the foresight to invest in a Plan B to ensure his children can finish their studies no matter what.

 

“You owe your loved ones a Plan B that will allow them to move on in life when you’ve ceased to be in the picture,” said BDO Life President and CEO Renato Vergel De Dios. “That takes tremendous financial maturity and responsibility to recognize that life insurance isn’t an optional choice. It’s the financially smart thing to do.”  

 

Time to start your Plan B conversation with BDO Life today. Visit your nearest BDO branch to speak with a BDO Life Financial Advisor. You can also visit BDO Life’s website at www.bdo.com.ph/bdo-life to explore life insurance solutions and get premium quotes based on your financial goals and budget.

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PH needs to empower more women consumers, entrepreneurs to drive economic growth

The Philippines has made progress in promoting gender equality and women’s economic empowerment, but much work remains to be done. 

While more women are able to pay for major purchases and women-owned micro, small, and medium enterprises (MSMEs) are on the rise, they continue to face significant challenges in accessing financing, technologies, and markets that will allow them to invest in and venture into entrepreneurship.

Miyu Lavarro manages the day-to-day operations of Jabella Café. It was through BDO Network Bank’s Kabuhayan Loan that Jabella Café was able to restart after its shutdown during the coronavirus pandemic.

At the CNN Philippines’ #EmbraceEquity Women’s Summit, BDO Vice President and Head of Sustainability Marla Garin-Alvarez shared insights on how women consumers and entrepreneurs drive the growth of MSMEs in the Philippines. She shared that 48% of BDO’s auto loans and home loans are by women clients, yet vehicles and homes are often marketed primarily to men. She highlighted that a majority of BDO’s MSME clients are women-owned, with women accounting for 66% of their total client base.

“We need to ensure that women are able to explore opportunities for them to contribute to the economy. We are proud that we support women as consumers and as entrepreneurs through products and services offered by BDO,” Garin-Alvarez said.

Garin-Alvarez explained that while women are represented in the workforce and leadership, there is still a gap in women’s wealth accumulation. Women need both financial services and non-financial services such as financial literacy in banking, investments, inheritance, and property ownership to help them build wealth.  

Garin-Alvarez also added that from BDO’s experience, women entrepreneurs have a better repayment history. She emphasized that providing adequate support to women entrepreneurs is crucial to encourage more of them to venture into entrepreneurship that brings growth to the economy. 

Greater collaboration between the government, financial institutions, and the private sector should be established to create a more enabling environment for women consumers and entrepreneurs. This includes providing access to finance, mentoring, training, and networking opportunities that will help women consumers be more financially independent and women entrepreneurs to start or to scale their businesses.

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Technically speaking, trend is your friend

For an investment instrument as volatile as stocks, is it still possible to predict how stock prices will move at a given time?

 

Veteran market pundits say this is very much in play, stressing that there is science behind the controlled chaos that is the stock market.

 

During the TradeTalks Tutorial Series hosted by BDO Securities on the basics of technical analysis and understanding market trends titled "Trending Patterns", BDO Securities Chief Operating Officer, Bernhard Tsai, said market prices form patterns that create trends, and people almost always tend to react the same way when they see the patterns that had similarly formed in the past.

 

But a more viable game plan, however, is to identify the type of trends that are formed, and riding on them until such trend is reversed.

 

"Trends are confirmed by presence of volume. Volume has to be present so you'll know there's a demand for this stock," Tsai said.

 

“Human psychology plays a key role in the stock market," he added. "Whether it's positive or negative news, the market discounts everything. As long as it's already public information, it's already reflected in the (share) price."

 

How can novice market investors find a good entry in buying stocks using technical analysis? Tsai advised to buy at the breakout point. A breakout refers to the price of a stock when it moves above a resistance area. Breakouts indicate the potential for the share price to start trending in an upward direction.

 

"One of the common pitfalls for investors is they don't have a good exit strategy," Tsai said. "When things go right, we tend to be too greedy and don't know when to get out. Knowing how to identify patterns to buy is as good as knowing when to exit."

 

To know the tips on how to have a good exit strategy, identifying market trends, and appreciating the advantages of having a sound technical analysis, Tsai advised first-time investors to open an account with BDO Securities and take advantage of the different technical analysis-based resources such as the Technically Speaking commentaries and tutorial videos. 

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Branch expansion help boosts job creation in PH

While many Filipinos are going abroad to find a job, there are still many employment opportunities in the country that await job seekers with the continued expansion of businesses in various industries. 

According to the latest Labor Force Survey, employment rate increased to 95.5% in October 2022. 

BDO’s community bank BDO Network Bank, for one, continues to reach remote communities through branch expansion in the provinces. Over 800 job positions which include branch heads, service officers, account officers and marketing assistants are waiting to be filled to support the 106 branches and loan offices the bank opened in 2022. 

“Providing opportunities to local talents from different communities will not only support the growth of BDO Network Bank, but it will also help propel the country’s economy,” shared Jesus Antonio S. Itchon, president of BDO Network Bank (BDONB).  More job vacancies are expected to be announced as BDO Network Bank plans to open additional 100 branches nationwide this year.  

Opportunity to live and work near loved ones 

For Rikko Martin Guillermo, BDO Network Bank Lahug, Cebu branch -Management officer, being assigned to his hometown helps him manage his finances well.

BDO Network Bank intends to help every kababayan find a job in their hometown and be near with their families. 

Rikko Martin Guillermo, network management officer of BDO Network Bank-Lahug, Cebu is one example. 

“I am very thankful to BDO Network Bank for allowing me to be assigned here in Lahug, Cebu City office. I am now able to manage my finances because I live with my loved ones,” shared Rikko.   

BDO Network Bank Sultan Kudarat branch account representative Allan Mark Nobleza is thankful to the bank for giving him the opportunity to be transferred to a branch near his family, allowing him to be more productive at work.

Allan Mark Nobleza, a former credit assistant at BDO Network Bank Makati office, has likewise expressed his gratitude to the bank for giving him an opportunity to work at its branch in Sultan Kudarat, Esperanza as an account representative. 

His transfer back to his hometown is a big help as he no longer worries about his parents, making him more productive at work. 

“I am happy that I can go home to my family every day,” said he said. 

For those interested to be part of BDO Network Bank, visit BDO Network Bank official FB page (https://www.facebook.com/BDONetworkBankPH ) for the list of job vacancies. 

Resumes or CVs may be sent to the email addresses assigned per location. Just follow the subject or title format below:

<position you are applying for>,<Location>,<Name>

Example: Field Sales Officer_Tagbilaran_Juan Dela Cruz

NCR & Central Luzon: devera.michelle@bdo.com.ph

North Luzon: stodomingo.marianovita@bdo.com.ph

South Luzon: malinao.eunice@bdo.com.ph

Visayas: clitar.jojean@bdo.com.ph

Mindanao: bagares.marymagdalene@bdo.com.ph

BDO Network Bank does not require payment of fees for job application. To ensure your safety and security, contact only the authorized BDONB HR officers or send a private message to BDO Network Bank’s official facebook page. (https://www.facebook.com/BDONetworkBankPH).

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BDO Foundation celebrates the season with those who have less

BDO Foundation, the corporate social responsibility arm of BDO Unibank, celebrated Christmas with thousands of underserved Filipinos as it provided food assistance in line with its gift-giving program dubbed Handog sa ‘Yo ng BDO Foundation.

For the third consecutive year, BDO Foundation implemented its Handog sa ‘Yo ng BDO Foundation Christmas gift-giving initiative, providing noche buena food packs to 25,000 families in underserved communities.

A total of 25,000 families all over the country received bags containing food items that beneficiaries could use for noche buena.

The foundation started the annual initiative back in 2020 as part of efforts to aid economically disadvantaged communities during the Christmas season.

Now on its third year, Handog sa ‘Yo ng BDO Foundation was implemented in partnership with Caritas Philippines, the social arm of the Catholic Church in the country, as well as Tanging Yaman Foundation, a non-profit organization that links donors with beneficiaries. Conducted simultaneously over two days in various locations, the program was also made possible by BDO and BDO Network Bank volunteers from head offices and branches.

Volunteers distributed food packs in Caloocan City, Quezon City, Malabon, Manila, Muntinlupa, Novaliches, Pasay City, Pasig City and Taguig City.

Handog sa ‘Yo also reached communities in Aurora, Biliran, Cagayan, Camarines Sur, Capiz, Catanduanes, Cavite, Cotabato, Davao, Eastern Samar, Ifugao, Ilocos Sur, Isabela, La Union, Laguna, Lanao del Norte, Leyte, Maguindanao, Marinduque, Mindoro Oriental, Misamis Occidental, Mountain Province, Negros Occidental, Negros Oriental, Northern Samar, Palawan, Pampanga, Pangasinan, Quezon, Romblon, Sorsogon, Sulu, Surigao del Sur, Tarlac and Tawi-Tawi.

Writing on behalf of the San Antonio de Padua Parish in Quezon City, Parish Pastoral Council secretary Charles Mercado thanked BDO Foundation, saying, “Christmas is truly a season of joy, happiness and charity. It was a fulfilling and meaningful experience to see the smiles of our parish volunteers and neighbors after receiving these gifts.”

“We thank our sponsors, who served as instruments of God this Christmas season,” he added.

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Explore the world again with the new explorer credit card by BDO and American Express

 EXPLORE THE WORLD AGAIN WITH THE NEW EXPLORER 

CREDIT CARD BY BDO AND AMERICAN EXPRESS

Manila, Philippines, 12 January 2023 – BDO Unibank, Inc. and American Express have launched the American Express® Explorer™ Credit Card (“the Explorer Card”) in the Philippines for the aspiring and frequent travelers eager to explore the world again. Cardmembers earn American Express’ Membership Rewards® points, which never expire, and can be redeemed for air miles with a wide range of airlines including award-winning ones and for hotel loyalty points with thousands of hotel properties – giving them greater flexibility and choice, and allowing them to travel for less. 

Every P40 spent entitles Cardmembers to earn one Membership Rewards® point. Each point can then be redeemed for one air mile at six frequent flyer partners: Mabuhay Miles, KrisFlyer, Cathay Membership, Royal Orchid Plus, Enrich, and Delta SkyMiles. The points can also be converted into hotel loyalty points from Marriot Bonvoy and Hilton Honors, which both have thousands of properties worldwide including in the Philippines. In addition, the Explorer Card has one of the best rewards rates in the country and no conversion fee.

“We have seen substantial growth in travel-related spending among our American Express Cardmembers. In 2022, airline ticket purchase alone has increased exponentially versus the previous year,” says Rolando C. Tanchanco, BDO Senior Executive Vice President and Consumer Banking Group Head. “With the return of consumer confidence in travel, the American Express Explorer Credit Card is a timely addition to our extensive line-up of credit card products with our partner American Express.”

“After three years of the pandemic and with borders reopening, travel is back. Our American Express Explorer Credit Card launched in partnership with BDO, gives our Cardmembers in the Philippines, whether they are travelling solo, with family or with friends, the ability to earn rewards and travel for less, while doing what they are passionate about.’’ said Mr. Sanjiv Malhotra, Vice President and General Manager, Global Network Services, SouthEast Asia and South Pacific, American Express.

The Explorer Card was first introduced by American Express in Australia in 2016 and Hong Kong in 2021. Now, American Express with BDO are bringing the Explorer Card to the Philippines—a first in Southeast Asia. The new card forms part of the extensive range of BDO-issued American Express Cards.

Cardmembers can redeem their Membership Rewards points from a wide choice of local and international airlines and hotel loyalty programs. 

Frequent Flyer Partners

• Mabuhay Miles (Philippine Airlines)

• KrisFlyer (Singapore Airlines)

• Cathay Membership (Cathay Pacific Airlines)

• Royal Orchid Plus (Thai Airways)

•  Enrich (Malaysia Airlines)

• Delta SkyMiles (Delta Airlines)

Hotel Partners

• Marriot Bonvoy

• Hilton Honors

Other benefits include: 

• Up to P10M Travel Accident and Inconvenience Coverage

• 2,000 Bonus Membership Rewards points upon reaching P600,000 spend per year

• Year-round deals, rebate or cashback, and instant savings from BDO partner merchants 

• Complimentary Annual Fee for the 1st year (Principal and Supplementary)

• Waived Annual Fee upon reaching P450,000 spend per year

For more details or to apply for the American Express® Explorer™ Credit Card, visit www.americanexpress.com.ph or go to any BDO branch near you.

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BDO expands footprint in Bicol with opening of new branch

 

BDO provides banking solutions to clients through combination of physical and digital banking services in the branches.

BDO Unibank has opened a branch in Sorsogon to support the growing banking needs of clients in one of Bicol region’s leading urban cities.

The full-service branch, which is located in SM City Sorsogon, is BDO’s 33 rd branch in Bicolandia. It can serve the personal investment, sending and receiving of funds, and financial planning needs of individuals, as well as extend loans to businesses for their expansion activities. Self-service options are also available via digital and online banking facilities to give clients alternative channels to do their banking transactions inside the branch.

Since it is located in SM, the branch also offers extended banking hours for added convenience to clients who would like to do their shopping and banking chores simultaneously.

Located in the Bicol peninsula, Sorsogon City is the capital of the province of Sorsogon. It is considered as Luzon’s gateway to the Visayas and Mindanao through its roll-on/roll-off ferry terminal facilities located in the municipalities of Matnog, Pilar and Bulan.

Most businesses in the city are related to tourism, agriculture/marine products, hardware and construction, and gasoline stations.

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