This normally refers to a husband and wife leaving their respective families in order to form their own family. Furthermore, it means prioritizing the new family’s needs over those of their respective families. In the Philippines, however, it is a common practice to support one’s parents and siblings while building one’s own family. This is what the Sandwich Generation is about.
The “Sandwich Generation” is a term that defines a group of individuals who find themselves responsible for looking after their parents, while simultaneously trying to raise their own family. A growing number of Filipinos, between their early 20s to early 50s, now comprises this group, which is estimated to be in the millions.
While this phenomenon is a global issue, the Philippines’ Sandwich Generation finds itself with more pressing challenges.
Due to cultural and societal factors, many Filipinos not only take care of their parents but also family members from the previous generation (grandparents, uncles, and aunts). They are raising their own families and at the same time, helping their extended family. It is common to hear of Pinoys who must financially take care of nephews and nieces and other younger relatives.
InLife: The Un-Sandwiched Generation Campaign
InLife, the country’s first and largest Filipino life insurance company, has taken notice of the Sandwich Generation’s challenges prompting it to launch a campaign to aid the Filipino Sandwich Generation “Un-sandwich” their lives.
Called InLife: The Un-Sandwiched Generation, the new project aims to empower the Pinoy Sandwich Gen with resources and tools for financial planning and management, education planning, caregiving resources, mental health and self-care, and insurance knowledge, among others. Anyone may access these information through different channels, among them, a new microsite within the InLife website, guides, webinars, podcasts, and other forms of content.
According to InLife Chief Marketing Officer Gae L. Martinez, this is InLife’s long-term commitment to be there for the Sandwich Generation. It is a massive challenge but something InLife is more than willing to undertake.
“The InLife Sandwich Generation campaign is our way of acknowledging the amazing strength and resilience of these unsung heroes of society who balance the responsibilities of taking care of their elders while also taking care of the younger generation. This initiative is our promise to stand by the millions of Filipinos who are part of the Sandwich Generation. We want to help them un-sandwich themselves and future generations and be able to live A Lifetime for Good.”
The InLife Product Ecosystem
The campaign also seeks to highlight how financial literacy and planning for the future can help Filipinos free themselves from this cycle but still be able to help their elders while ensuring a good future for themselves. One of the solutions is by taking out insurance products designed to address the different challenges a person will likely encounter in the future.
InLife’s Abundance, for instance, is a savings and insurance plan payable in either five or ten years and gives guaranteed cash payouts for 20 years or until the age of 65 regardless of market conditions when they become due. The guaranteed cash payouts are equal to 10% of the sum insured and paid every two years starting at the end of the 7th policy year for the 5-pay, and on the 11th year for the 10-pay variants until the plan matures. These cash payouts may be set up as a nest egg so the insured will have a ready source of funds when they reach retirement age.
InLife’s Resilience is a critical illness plan that provides life insurance and guaranteed lump sum cash upon diagnosis of a critical illness, aside from other additional health benefits. Resilience serves as a cushion against potential huge medical bills that could have a major impact on the family’s finances.
Wealth Assure Plus, on the other hand, provides a versatile and flexible way of combining life protection and investment, allowing them to tailor their financial plans based on their needs and budget.
“InLife’s product ecosystem is designed to address the pivotal financial milestones of Filipinos. We offer a roadmap to navigate this challenging journey. With this approach, we provide a lifeline that will help them un-sandwich themselves and liberate them from the pressures of multi-generational financial responsibilities and give them the financial independence not just for themselves but also their loved ones,” Martinez shared.
Members of the Sandwich Generation may get more information on customizing solutions to their needs by visiting https://www.insularlife.com.ph/insurance-for-individuals.
