Having to deal with siblings is no easy matter. More often than not, siblings have different personalities, different interests, and different opinions. Moreover, no one gets to choose who their siblings are, so whether you like them or not, you will have to learn to live together and cooperate.
Despite having differences, most siblings manage to work through them as they grow older, and they finally learn how to cooperate. From sharing toys as kids, to being there for one another through teenage struggles.
As adults, you and your siblings hopefully find more things in common as you grow older—finding that first job, the stress at work or business, perhaps even getting married and starting a family.
Siblings Caring for their Parents
But no matter how different the personalities are between you and your siblings, you will always certainly have one thing in common—your parents. You all grew up depending on them for nurturing, guidance, and direction. Now that you are an adult, there's a high chance that your parents will depend on your more.
According to a World Bank report, the Philippines has a higher-than-average Age Dependency Ratio at 57.20%, higher than other developing economies such as Indonesia (48.83%), Thailand (39.51%) and China (37.51%).
The Age Dependency Ratio is the ratio of persons who are in the "dependent" ages (seniors over age 64, as well as children under age 15) to those in the "economically productive" ages (15-64 years) in the entire population. This means that nearly 60% of our working population care for dependents such as the elderly and school-age children.
With this in mind, you and your siblings need to work together to let your parents enjoy their golden years. It wouldn’t be surprising if you and/or your siblings would occasionally treat your parents out to a nice meal or take them on the occasional weekend getaways out of town. While it is good to be there for them for the small things, it is more important to be able to help them when it comes to their health and quality of life.
Have you ever thought of how your parents will manage should anything should happen to you or your siblings? If you or your siblings get terribly sick or have an untoward incident, who would your parents rely on at this stage in their life? This the very reason why BPI AIA recently launched Family Care Plus.
Family Care Plus: Joint Coverage in One Plan
Family Care Plus (FCP) is term life insurance product for two, which means that it provides coverage for you and your loved one under only one plan. Most insurance products in the market provide coverage for just one individual; which means that siblings, for example, will need to get two separate policies to ensure complete financial security for their aging parents. But not with the two-in-one coverage of Family Care Plus.
FCP provides protection coverage for life and critical illness, and has a 10-year coverage period which can be renewed at the end of each term. It is designed with the following features and benefits:
·Guaranteed Death Benefit: Beneficiaries will receive a lump sum cash benefit to sustain their standard of living or help fund their needs.
·Critical Illness Benefit: A lump sum cash benefit will be given if either of the insured persons is diagnosed with any of 10 major critical illnesses, including heart attack, stroke, and cancer; this benefit can be used to pay for any hospitalization or medical treatment needed due to the critical illness.
·Additional coverage for Diabetic Complications and Angioplasty: On top of the critical illness benefit, the plan provides additional coverage if in case any of the insured encounters diabetic complications or undergoes angioplasty.
·AIA Vitality: Policyholders are automatically enrolled in AIA Vitality, a science-backed wellness program that provides additional coverage, and encourages you to make better choices to live healthier, longer, and better lives.
·Guaranteed Renewal of Policy:after the 10-year coverage period, FCP policies are automatically renewed until age 65, without need for stringent medical exams.
Family Care Plus is the latest innovation from BPI AIA, the number one bancassurance company in the Philippines. It is an alliance between Bank of the Philippine Islands (BPI), one of the country's most trusted banks, and AIA Philippines, the country's premier life insurance company, and they have partnered together to bring financial protection and security to more Filipinos. For 2 consecutive years, BPI AIA was awarded 'Best Life Insurance Company' by World Finance, a London-based international finance magazine.
To know more about Family Care Plus and how BPI AIA can help you have a healthier, longer, and better lives, leave us a message or visit the BPI or BPI Family Savings bank branch nearest you and speak to a Bancassurance Sales Executive.