The pandemic has scared us, humbled us, made us weak–then made us strong. It has taught us that while there are things we can’t control, there are things we can. Here are the top five lessons we learned, or should learn, from the pandemic, now that most people are back in the grind with work.
1. Health is indeed wealth
Your health is your best asset—both physically and financially. Pandemic or not, protecting your health always comes first. And having good health and being in shape give you more energy to work hard for your family while pursuing your passions. Staying healthy saves you a lot of money too. After all, getting sick is not cheap. You have to pay for medicines, treatment, and confinement. Costs for COVID-19 treatment can reach millions, and so do other critical illnesses like cancer, heart attack, renal failure, or stroke.
But if you do get sick (and often these illnesses will just strike without warning), there are ways to make sure you are financially prepared. Protection plans like FWD Insurance’s Set for Health ensure that you have the money you need to pay for any medical bills. It allows you to claim up to three times against major critical illnesses—and if you remain healthy by 75 years old, you’ll get your money back.
2. Appreciate little things and celebrate small wins
This may sound like a cliché but when we were forced to stay inside our homes, I realized how much I should’ve valued things as small and simple as late trips to a convenience store (I’m not the only one with craving for ice cream in the middle of the night, right?) and how important my daily pre-pandemic routine was to my physical and mental health.
3. The importance of a rainy-day fund
It’s a good idea to have a rainy-day fund to cover expenses in case of emergencies. This is all the more relevant today during the COVID-19 pandemic. As the saying goes: hope for the best but prepare for the worst. Financial planning is important, especially if you’re the breadwinner. Life insurance plans like FWD’s Set for Tomorrow makes sure that your family has the financial means to go on, protecting them from unpaid loans and sudden income loss due to death. OFWs who work abroad get additional protection, too.
4. Grab all opportunities that come your way
I wasn’t the most adventurous person in the world and I often say no to exploring a new city or province. Now I wish I said yes to more things, took more trips, said yes to adventures and unplanned roadtrips. I wish I still had that opportunity, I wish to have that opportunity again. This pandemic also made me realize to do more and get out of my comfort zone, which I will hopefully do once this is all over.
5. It pays to be prepared
The pandemic has showed many of us how extremely dependent we are on our paychecks and daily earnings. With no work or income for more than a month, a lot of us have struggled to make both ends meet. And this will continue with businesses laying off workers and instituting a “no work, no pay” policy.
That’s why it’s important to be financially prepared and have a financial safety net so you can get through any emergency. It’s not too late to start securing your financial future today. Save. Invest. Protect. VUL plans like FWD’s Set for Life allows exactly that. You get both insurance and investment and pay for it monthly. You get to grow your money and, at the same time, secure your future – and your family’s.
COVID-19 is a call for preparedness for everyone. The pandemic took us by surprise, but we learned some valuable lessons. Now that we know better, we can prepare better—physically, mentally, and financially.
FWD Insurance is one of the few insurance companies that are digitally ready to help you financially prepare for the future. Its financial advisors are available to talk to you about your finances and help you with your financial goals via video chat or whatever channel is more convenient for you.
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