International Journal For Multidisciplinary Research

E-ISSN: 2582-2160     Impact Factor: 9.24

A Widely Indexed Open Access Peer Reviewed Multidisciplinary Bi-monthly Scholarly International Journal

Call for Paper Volume 7, Issue 1 (January-February 2025) Submit your research before last 3 days of February to publish your research paper in the issue of January-February.

Parental Financial Planning in the Philippines: The Role of Life Insurance in Securing Family Futures

Author(s) Sheena Queen P. Peñafiel
Country Philippines
Abstract With an emphasis on its effects on long-term financial objectives, resilience, and family security, this study examines the role of life insurance in Philippine parents' financial planning. Life insurance has become an essential tool for maintaining financial stability and protecting the futures of dependents and children in the face of growing living expenses and economic uncertainty. A structured survey was used to collect data from 150 parents in Metro Manila who had dependents as part of a quantitative research design. The study evaluates life insurance policies' expected value, payment plans, and perceived benefits in order to determine how important they are for risk management, including debt, income loss, and educational costs. According to the findings, life insurance is essential to parental financial planning, particularly for parents who place a high value on their kids' education and future stability.
Keywords Life insurance, Financial planning, Income Loss, Financial Stability
Field Business Administration
Published In Volume 7, Issue 1, January-February 2025
Published On 2025-01-18
Cite This Parental Financial Planning in the Philippines: The Role of Life Insurance in Securing Family Futures - Sheena Queen P. Peñafiel - IJFMR Volume 7, Issue 1, January-February 2025. DOI 10.36948/ijfmr.2025.v07i01.35224
DOI https://doi.org/10.36948/ijfmr.2025.v07i01.35224
Short DOI https://doi.org/g82gqq

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