Finance Secretary Ralph Recto has called on the life insurance industry to increase its market penetration and transform the financial instrument into a mainstream consideration and a basic necessity for Filipinos.“Risk is a significant driver of poverty, and adequate insurance coverage is among the powerful tools for mitigating this challenge. Therefore, all of you hold key positions in winning our battle against poverty,” said Recto.
“It is not a mere transaction but a selfless act of love that they can bestow upon their families. Hindi lang ito dapat tingnan na isang gastos. Hindi lang ito para sa may-kaya. At hindi lang ito napapakinabangan kapag pumanaw na ang isang mahal sa buhay,” said the chief economic manager of the Marcos administration.