Manulife launches group insurance with employee coverage up to ₱5 million

(Press Release)

To help businesses in the Philippines protect their employees’ health and secure their future, Manulife has recently launched Health Protect, a one-year renewable term insurance plan that provides employees with health protection coverage of up to ₱5 million against various critical illnesses.

Based on Manulife’s 2020 health study titled, “Understanding Filipino Sentiments Toward Health and Critical Illness,” among the top critical illnesses most feared by Filipinos are cancer, heart attack, and stroke. With Health Protect, companies can provide their employees with relevant health protection by choosing from any of its four protection bundles against: (a) cancer; (b) cancer, heart attack, and stroke (3 critical illnesses); (c) cancer + 57 other critical illnesses; or (d) 3 critical illnesses + 57 other clinical illnesses.

Businesses with full-time and active-at-work employees can purchase Health Protect for a minimum coverage amount of ₱50,000. For organizations with existing basic group life plans, they can also boost their employees’ protection with the new group critical illness riders. Businesses can opt to upgrade their plan to include additional coverage of up to ₱6 million.

“The pandemic has made many organizations realize that taking care of their employees’ health and well-being not only makes good business sense but helps them thrive in the long term. In times of uncertainty, it is vital to support, protect and empower our employees—our greatest assets—by providing them optimal health protection when it matters,” Richard Bates, President & Chief Executive Officer of Manulife Philippines, said.

“With Manulife Health Protect, companies can strengthen their commitment to employee well-being, by providing benefits and health protection coverage against critical illnesses most prevalent in the Philippines. This will allow their employees to have the confidence and the sense of security that they need, making their every day better,” he added.