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UCPB, COCOLIFE highlights importance of estate planning amid pandemic

UCPB, COCOLIFE highlights importance of estate planning amid pandemic

In response to the uncertainties brought about by the pandemic, over 600 UCPB clients from different parts of the country attended an online webinar on the benefits of estate planning.

The event was organized by UCPB and COCOLIFE to educate clients on the importance of estate planning and enable them to ensure a good future for their loved ones.

Estate planning expert Professor Xylexferene De La Torre of the Professional Regulatory Board of the Real Estate Service (PRBRES) discussed how it’s never too early to start with estate planning through preparation, protection and preservation. “You are your most important asset. The best time to start planning is the moment you start working and earning income. You can never start too early because you never know when the unthinkable will happen,” he said.

With the unpredictable Covid-19 pandemic, Prof. De La Torre highlighted the importance of investing in estate planning and life insurance. “Because of the new normal, people developed a greater appreciation for life and family. It made them think more about the future,” he added.

“Life insurance is the most powerful tool in crafting any estate plan. It’s also a primary tool for risk management. In our current pandemic situation, the risks are heightened. With life insurance, you can identify and minimize those risks as well as protect your funds,” COCOLIFE Vice President/Treasurer of Corporate Finance and Strategy Division Atty. Julio Bucoy said.

The first step to estate planning is to seek advice from financial advisors and account executives. “We have COCOLIFE account executives assigned to each UCPB branch to guide our clients in determining what type of policy they need,” COCOLIFE Vice President and Bancassurance Department Head Maria Nerissa Enriquez said.

UCPB FVP and Branch Banking Group Officer-in-Charge Anthony Evan Lluch stressed the importance of smartly handling one’s hard-earned assets by planning for the future. “More than anything, this pandemic has forced us to face some hard truths in life, one of which is the wisdom of preparing a good future for our family in whatever stage of life we are in right now. We hope what clients learned in the webinar will help them make the right decisions to protect their families and ensure a good future for them.”

COCOLIFE, the country’s number one Filipino-owned stock life insurance company, offers a wide array of life insurance products and wealth management products and services. These are available through COCOLIFE’s 68 fully computerized branches and UCPB’s 188 branches nationwide.

Date published: October 9, 2020

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