As everyone adapts to the next normal brought by the Covid-19 pandemic, many of us have become more concerned with keeping ourselves safe and secure—physically, mentally, and financially. Even those with job security and a stable amount of savings are now revisiting savings and retirement plans. So how do we proceed in this time of uncertainty?
“As many are learning first-hand how unforeseen circumstances can disrupt our lives and livelihoods in an instant, we have found that there is an increased interest in availing of insurance protection,” said Melissa Henson, Senior Vice President and Chief Marketing Officer, Manulife Philippines. “More Filipinos now realize that being insured can help them get ahead of their concerns about what tomorrow may bring, can and also help them build toward achieving their goals.”
For those looking to get started, here are some ways life insurance can help keep your priorities on track and make every day better:
- Be financially protected on your own terms. Insurance companies offer affordable and customizable plans that let you choose how much and how long you want to pay and give you options to renew. These provide you and your family protection on your own terms. For those who may not be ready for big financial commitments yet, Manulife Philippines has made its term insurance products more affordable to help more Filipinos get protected during these times. Its one-year term product now costs as low as Php 28*/day, while the five-year term REACT5—that is bundled with Accidental Death Benefit for select amounts* — can be purchased for as low as Php 23*/day. Being financially free doesn’t need to cost you a lot after all.
- Strengthen health and wellness protection. The Covid-19 pandemic has opened the eyes of many Filipinos to the importance of being financially prepared in the event of critical illness. Manulife recently released a health study that revealed how many Filipinos face barriers in embracing better financial and lifestyle habits, and financial worries have a strong impact on Filipinos’ sentiments toward health protection, especially amid the Covid-19 crisis. Having the right insurance coverage can help you weather such uncertainties, to ensure the health and the safety of yourselves and your loved ones. For instance, Manulife Philippines’ HealthFlex is designed to enable Filipinos to choose the best critical illness plan with life insurance to meet their needs. Customers can choose which types of illness they would like to be covered, along with other benefits to enhance coverage. To support Filipinos living through the challenges brought by Covid-19, the company also conducts wellness webinars to help people deal with the effects of self-isolation and quarantine, by providing helpful tips for self-care and mental health.
- Provide financial security for the whole family. There are various types of life insurance plans to choose from, depending on your family’s needs and goals. They can be structured to help you achieve the goals you have for yourself or your family—whether you aim to prepare for the rising cost of higher education for your children, or save up for a comfortable retirement. Life and health insurance not only cover costs that arise from the onset of an accident or critical illness but can also help provide for your family’s financial needs when you can no longer provide for them yourself. Insurance plans offer peace of mind that, no matter what may come, you can rest assured that there is a secure future for you and your family.
- Build funds for your dreams. It is still possible to invest in your personal goals during these times. You don’t have to choose between life insurance protection and investment. Many insurance products now offer life and health coverage with investments in a variety of funds that cater to different financial goals and risk appetites. Manulife Philippines offers an array of investment-linked life insurance products that can provide you with protection while helping achieve your longer-term financial goals. Manulife’s fund managers also publish insights, market updates, and fund reviews at manulife.com.ph to guide you in making better decisions for your future.
- Make it easy and safer to transact as most still prefer to stay home. Once you have decided which insurance product is best for you, Manulife Philippines makes it convenient for you to manage your finances with help from a financial adviser, but without face-to-face interaction. Policyholders are given access to Manulife Online, an online facility that allows you to access your policy information, check your funds’ performance, and make online payments anytime and anywhere. Filing claims for benefits is also made easier for customers through online submission at manulife.com.ph. Manulife is also now present on Viber so policyholders can get updated with key information about their policies and other important advisories in real-time, helping them experience everyday conversations better.
Although uncertainties remain, we can always turn them into possibilities. With the right insurance plan, Filipinos can have more confidence to make the right decisions today and have financial peace of mind knowing that tomorrow is covered.
With so much uncertainty in the world today, having insurance protection as one of our “essentials” can help us manage our worries, embrace our aspirations, and focus on how to make our every day better.