How to Start a Protection Plan Even on Minimum Salary

February 20, 2026

Earning minimum wage in the Philippines can make insurance feel like a luxury. But protection isn’t about how much you earn,  it’s about protecting what little (or big) you have.

Here’s how you can start a protection plan even on a tight budget.

1. Follow the 5–10% Rule

Set aside 5–10% of your monthly income for protection before spending on non-essentials. If you earn ₱15,000, that’s about ₱750–₱1,500 for insurance. Small, consistent contributions can create meaningful financial security. Focus on your protection first and lifestyle upgrades will follow later on.

2. Build Gradually

You don’t need every policy at once. Start with life or basic health coverage, then add protection as your salary and responsibilities increase. Insurance should grow with your career, family, and goals one practical step at a time.

3. Choose Depending on Your Needs

If anyone depends on your income— parents, siblings, or children— life insurance comes first. A basic term policy can cover funeral costs, debts, and daily expenses if something happens to you. 

On the other hand, hospital bills in the Philippines can quickly reach six digits, especially in private facilities. While PhilHealth helps, it often leaves a balance to be paid out of pocket. To avoid borrowing or going into debt, consider adding basic critical illness coverage. 

Minimum salary doesn’t mean minimum protection. What matters most is starting early. Insurance is cheaper when you’re young and healthy and even small coverage can make a big difference to the people who rely on you.

The best plan isn’t the most expensive one. It’s the one you can consistently afford. Explore affordable coverage options you can invest in today at https://plgic.ph/ParamountDirect.

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