Cebu Regis Leadership Call To Arms Speech by Leader Pedro Leonard Castañeda

Cebu Regis Leadership Call To Arms Speech by Leader Pedro Leonard Castañeda

Good morning, classmates.

Let me ask you a question.

Have you ever thought about death? Or more specifically, your own death?

You see, statistics have shown that 10 out of 10 people die, whether from sickness, or from accidents, or from sheer lack of will to live. And with the numbers so skewed against us, how many of us here have prepared for this eventuality?

We will all die, and i'm sure that one of our most fervent hopes is that when it is our time, we will leave memories that will inspire others. We hope to be remembered well, and be spoken well of.

But my challenge today is not about leaving a good name, since this is a given for all of us leaders. Rather, my challenge is a little bit more mundane, yet inundated with pragmatic reality. So let me ask you another question:

If you were to die today, ano iiwanan mo sa mga mahal mo, utang o pera? Utang, o pera.

Most Filipino families do not prepare for life, much less for old age, and even less, for their passing. Let me share some figures:

> Only 28.9% of all households have savings; 

> the average emergency savings of a Filipino household is only P200;

> 70% of all old-age Filipinos depend on their children to sustain them during retirement;

> the average cost of hospitalization is 3 times the average salary of the Filipino;

> 30 to 50% of all deaths occur before the age of 60;

> and the average cost of critical illness treatment is enough to wipe out - WIPE OUT the savings of the average family and plunge them into crippling debt.

Just recently, 4 people I know of my age have either died or have been diagnosed with cancer. 3 of them have no savings, and were the sole breadwinners of their families. All 4 are married, and all have children younger than 4.

If you are the only breadwinner, and you have not prepared for your loved ones, then it is game over not only for you but also for them: their hopes and dreams are gone because of your neglect. Junior might not get to college. The house and car you worked so hard for would have to be sold. All of these, gone...because you did not prepare.

Now let me share with you 3 simple steps in to help you prepare. They are: SAVE, INVEST, PROTECT.

By savings, I mean diligently setting aside a portion of your income for emergencies, for retirement, and for inheritance. By investments, I mean finding ways to accelerate income, whether through stocks, appreciating assets, business interests and other ways to make money work for you. All of these are good, but remember, if you were to die today, all of these assets would be frozen. It would take time to sort out your estate while the government bites off its share in estate taxes. Are you aware of that?

This leads me to step 3: protection. Protection is making arrangements so that at the moment of need, money is available. This can go to paying estate taxes, settling funeral expenses, and making sure that Junior's college can be paid for. And how is this done? The most basic step is making sure that you are adequately insured. And ultimately, what is life insurance? Is it just about leaving money behind? NO.

It is about showing you care. It is about love. It is about showing your family that you love them dearly...even when you're no longer around. Your preparation is more than just leaving money....it is your final love letter, your last "I love you!" to those whom you treasure the most.

So let me leave you with one final question: Have you taken this step?

If not, usap tayo.

Thank you.

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 "Leadership is understanding people and involving them to help you do a job. That takes all of the good characteristics, like integrity, dedication of purpose, selflessness, knowledge, skill, as well as determination not to accept failure." - Admiral Arleigh A. Burke

<adjudged as the second best speech by the judges)