Why Filipinos are Underinsured and How FWD KanMend, KanLive, and KanGuard are the Perfect Solutions

The Philippines is one of the most disaster-prone countries in the world, yet insurance penetration remains low. According to a recent survey, only 16% of Filipinos have insurance coverage. In this blog post, we'll explore why Filipinos are underinsured and how FWD Philippines' KanMend, KanLive, and KanGuard can help fill the gap.

1. Financial Literacy: Lack of financial literacy is one of the primary reasons why Filipinos are underinsured. Many people simply do not understand the importance of insurance and how it can protect them and their loved ones.

2. High Cost: Another reason why many Filipinos are underinsured is the perceived high cost of insurance. Many people believe that insurance is too expensive and not worth the investment.

3. Complex Terminologies: Insurance has many technical terms and jargon that can be difficult to understand for the average Filipino. This can be a barrier to entry for many people who want to purchase insurance but are intimidated by the complexity.

4. Lack of Trust: Another reason why Filipinos are hesitant to purchase insurance is the lack of trust in insurance companies. Many people are skeptical of insurance providers and worry about hidden fees and exclusions.

FWD Philippines offers a range of insurance products designed to meet the needs of Filipinos. KanMend offers critical illness coverage, KanLive provides life insurance, and KanGuard offers protection against accidents and disability.

FWD Philippines' insurance products are affordable and provide comprehensive coverage. This makes them accessible to more Filipinos and helps to bridge the gap in insurance penetration.

FWD Philippines' digital channels offer a convenient and hassle-free way to purchase insurance. Through their user-friendly website and mobile app, customers can easily compare and purchase insurance policies in just a few clicks.

Insurance is an essential part of financial planning, yet many Filipinos are still underinsured. FWD Philippines' KanMend, KanLive, and KanGuard are the perfect solutions to bridge the gap and provide comprehensive coverage at an affordable price.

Don't leave your future to chance. Visit FWD Philippines website today to learn more about their insurance products and how they can protect you and your loved ones.