Social Security System and Manulife Philippines Strengthen Financial Security for SSS Retiree and Surviving Spouse Pensioners who Availed of the SSS Pension Loan Program with Group Credit Life Insurance

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Social Security System (SSS) and Manulife Philippines have formally expanded their partnership to provide Group Credit Life Insurance coverage to pensioners who availed of the SSS Pension Loan Program, following a ceremonial contract signing held at the SSS Head Office in Diliman, Quezon City. Present at the contract signing are executives from both organizations, led by SSS President and Chief Executive Officer Robert Joseph de Claro and Manulife Philippines President and Chief Executive Officer Rahul Hora.

Manulife Philippines President and CEO Rahul Hora, Chief Corporate Solutions and Alternative Distribution Officer Erwin Go, and Vice President and Head of Corporate Solutions Cheryl Asinas formalize the partnership with Social Security System President and CEO Robert Joseph Montes De Carlo and Executive Vice President for Investments Sector Ernesto D. Francisco, Jr.

Previously available only to 2 million retirement pensioners across the country, the expanded coverage now also includes approximately 1.2 million surviving spouse pensioners, ensuring that their financial obligations of loan borrowers are protected through comprehensive credit life insurance. This milestone marks a significant step toward strengthening financial resilience for Filipino families.

"This partnership represents our shared commitment to protect and empower our clients, especially those who rely on financial assistance to make their dreams happen, secure their families’ future, or rebuild their lives after a calamity," said Robert Joseph de Claro, President and Chief Executive Officer, Social Security System. "Through this agreement, we help ensure that our borrowers are not left vulnerable in times of unexpected loss, illness, or tragedy.”

"Expanding this partnership reflects our dedication to helping build a more inclusive financial landscape where Filipino families can access the protection they need," said Rahul Hora, President and Chief Executive Officer, Manulife Philippines. “With this initiative, we reinforce our goal of enabling more Filipinos achieve greater financial security, especially during times when support is needed most."

Strengthening financial resilience: Enhanced insurance features and benefits

The enhanced program builds on the successful implementation of the SSS Pension Loan Program (PLP), announced on Labor Day 2025, which provided accessible, low-interest loans to pensioners. With Manulife as the Group Credit Life Insurance provider from 2025 to 2026, both retirement and surviving spouse pensioners benefit from:

● Comprehensive protection: Manulife’s group credit life insurance covers outstanding loan obligations in the event of the borrower’s passing, relieving families of financial burden during difficult times.

● Inclusive coverage: The insurance now extends to surviving spouse pensioners, ensuring broader protection across the pensioner base.

● Seamless integration: The insurance is embedded within the pension loan process, with no additional steps required from members to access coverage.

Building trust through proven partnership

Manulife’s continued collaboration with SSS underscores the power of public-private partnerships in expanding the reach of social protection programs. Since the original five-year group credit life insurance contract began in August 2022, Manulife has leveraged its insurance expertise to support government initiatives that promote financial security for Filipino families, advancing its nation-building efforts.

With this landmark enhancement, Manulife builds on its 118-year legacy in the Philippines, reaffirming its role as a trusted financial partner of Filipino customers. The company continues to deliver innovative insurance solutions that meet customers’ evolving needs across all life stages.

Manulife Launches Global Longevity Institute Committing $350M by 2030 to Accelerate Progress on Lifelong Health and Financial Resilience

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●      Global research, advocacy and community investment platform created to advance innovation that will reimagine aging and lifelong well-being

●      Initial actions include new research with Milken Institute, Longevity Symposiums across global markets, and more

Manulife announced the launch of the Longevity Institute, a global platform that will seek to drive action to help people live longer, healthier, and more financially secure lives. Backed by a $350 million commitment, the Longevity Institute will work to champion research, innovation, and partnerships that will help people thrive at every age.

As a global leader in life insurance, asset management, and retirement planning, Manulife is deeply invested in the health and well-being of its customers. However, the gap between how long people live (lifespan) and their quality of life (healthspan) is widening — with many spending up to 20% of their lives in poor health, and nearly 40% facing financial insecurity as they age^[1]. The Longevity Institute aims to close this gap by reimagining how people live, work, learn, and contribute throughout their lives.

“Empowering health, wealth, and longevity is central to Manulife’s bold new ambition. It aligns with our values and our commitment to the communities we operate in, and we are uniquely placed to help individuals and families navigate the growing gap between lifespan and healthspan,” said Phil Witherington, President and CEO of Manulife. “For generations now, Manulife has supported customers at every stage of life, and we see a powerful opportunity to scale our expertise and help even more people live longer, healthier, better lives. Through the Longevity Institute, we will partner with organizations that share our purpose, unlock new insights, drive innovation, and create a future where everyone can thrive—at any age.” 

The Longevity Institute will focus on igniting global research and thought leadership to better understand how people can flourish as they live longer; accelerating innovation and advocacy through initiatives that promote health, wellness, and financial readiness; and investing in community partnerships that advance knowledge, promote equity, and drive action around longevity.

Steve Finch, President & CEO, Manulife Asia said, “With the demographic shifts in Asia, where one in four people will be over the age of 60 by 2050, it's crucial to rethink traditional approaches to financial planning, health care, and workforce participation. At Manulife, we are committed to driving innovation that promotes long-term financial resilience, equitable healthy aging, and lifelong fulfillment. By supporting early-stage innovations and providing comprehensive solutions, we aim to help people live better for longer and secure their financial futures.”

Initiatives

Manulife has a long history of driving impact through programs, products, services, and community investments dating back to 1888, when Manulife gifted an ambulance to the City of Toronto—its first act of public service to help people live longer, healthier lives.

To mark the launch of the Institute and build on our long history of impact, Manulife is pleased to share new and ongoing initiatives that reflect our commitment to advancing longevity through meaningful action:

●        Partnering with the National Institute of Ageing: Manulife is supporting the National Institute on Ageing’s annual Ageing in Canada Survey, conducted in partnership with Toronto Metropolitan University. This important research explores the lived experiences of Canadians aged 50+ to inform policies that promote healthy aging.

●        Partnering with the Milken Institute: Manulife has supported the Milken Institute to advance thought leadership and research on some of the most critical issues shaping longevity and the future of health. Feeding Change's work and recent policy brief highlight opportunities for strengthening resilient fruit and vegetable production and integrating food into health interventions. The Future of Aging initiative and new report, Longevity Ready: A Systems Approach to Aging Well at Home, elevates solutions enabling current and future generations to prepare for longer, healthier lives in their homes and communities.

●        Longevity Symposiums: The Manulife and John Hancock Longevity Symposiums began in Boston two years ago and are now expanding globally. Recently, Manulife Singapore and Manulife Philippines hosted inaugural events in Asia, bringing together healthcare experts, industry leaders, financial consultants, customers, and partners—to explore how people can live not just longer, but better. John Hancock will host its third Longer. Healthier. Better. Longevity Symposium in the U.S. in April 2026.

The launch of the Longevity Institute quickly follows John Hancock’s inaugural Longevity Preparedness Index — developed with MIT AgeLab, which measures how ready U.S. adults are to thrive as they age. This index will expand to cover Canada in future years and provides insights that support the need for continued longevity advancements and innovations.

Outcomes

The Longevity Institute will build upon Manulife’s existing efforts to help more than 36 million customers improve their health and wealth. This work aims to drive the following outcomes:

 

●       Health: Help people make everyday choices that support their physical, mental, and emotional well-being—through better nutrition, early detection, movement, and mental health support that fits into real life.

●     Wealth: Empower people to feel confident about their financial future, with tools, education, and support that help them weather life’s ups and downs and build lasting financial security.

A comprehensive list of the Institute’s work and partnerships to date can be found in this fact sheet. The Institute will be known as the John Hancock Longevity Institute in the United States. For more information on the Longevity Institute, and to stay up to date on the Institute’s actions, insights, and events through 2030, visit Manulife.com/Longevity.  

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^[1] World Economic Forum

Manulife Brings Personalized Gut Health Insights to the Philippines

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Empowering Filipinos to take control of their health through science-backed innovation

Manulife is introducing a new health initiative in the Philippines that offers personalized gut microbiome screening through its collaboration with AMILI, Southeast Asia’s first microbiome insights company.

In the Philippines, this partnership is especially timely. According to the 2025 Asia Care Survey, 82% of Filipinos cite rising healthcare costs as their top concern, and many feel uncertain about their ability to maintain physical and financial well-being in the future. The screening provided by AMILI helps address these anxieties by offering science-backed, preventive care that supports better health outcomes and reduces long-term medical risks.

"At Manulife Philippines, we are focused on delivering innovative solutions that support the evolving health needs of Filipinos," said Rahul Hora, President and Chief Executive Officer, Manulife Philippines. "This collaboration with AMILI allows us to offer a unique health experience that goes beyond traditional insurance, empowering our customers to take a proactive approach to their health."

Manulife customers in the Philippines will now be able to access a personalized gut health screening designed specifically for Asian populations. The service includes tailored nutrition recommendations and teleconsultation to help interpret results. This empowers customers to better understand their health and take preventive steps to improve immunity, brain function, heart health and overall longevity. The service also provides a meaningful way to address rising health concerns in the Philippines by showing how Manulife delivers on its promise to support longer, healthier lives—through early detection, personalized care, and preventive action that can help reduce long-term healthcare costs for individuals and the system

"Our goal is to be a true partner in our customers' health journey—not just by helping them prepare financially, but also by giving them access to tools, services, and support for prevention, care, and overall well-being," said Grace Mallabo, Chief Health and Product Officer, Manulife Philippines. "By integrating personalized health insights into our offerings, we are helping Filipinos make informed decisions and improve their quality of life."

AMILI’s screening leverages the region’s largest multi-ethnic gut microbiome database, delivering insights that support digestive health, immunity, mental well-being, and chronic disease prevention.

"We’re proud to support Manulife’s customers in the Philippines with actionable, science-backed health insights," said Dr. Jeremy Lim, Chief Executive Officer and Co-founder, AMILI. "This partnership is a step forward in making predictive, preventive care more accessible across Southeast Asia."

This initiative in the Philippines is an expansion of the First-in-Asia Gut Microbiome Screening collaboration between Manulife and AMILI, launched in 2024 in Singapore. It is part of Manulife’s broader strategy to support health and longevity through value-added offerings across Asia, helping customers take control of their health in meaningful ways.

Details on the collaboration between Manulife Philippines and AMILI can be accessed at https://www.manulife.com.ph/services/manulife-move.html.

Evolving View on Longevity: For Filipinos, Quality of Life Outweighs Lifespan - Manulife Asia Care Survey 2025

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●        Survey of 1,000 consumers in the Philippines shows Filipinos value independence, quality of life, and purpose over longer life spans.

●        Despite rising health concerns, especially among those aged 25-34, most Filipinos surveyed do not take sufficient preventive health actions.

●        Amid widening retirement savings gap, Filipinos see the link between finances and health but remain underprepared for retirement.

●        Many Filipinos place excessive reliance on cash as a placeholder investment, increasing the risk that they might outlive their savings in the face of potential longer life expectancy.

A shift in how Filipinos view longevity is emerging, as they prioritize quality of life more than simply living longer as they age, according to the Manulife Asia Care Survey 2025: "Embracing Longevity: Enjoying a Better Life." The comprehensive study, which surveyed 1,000 Filipinos, revealed that only 13% of respondents chose living a longer life as their top wish when they consider their older years, while 26% prioritize financial independence and 17% value staying physically, mentally, and socially active.

The Manulife Asia Care Survey 2025, which ran in January and February, explored attitudes around how the region views longevity, as global life expectancies continue to rise.

Among those who value quality of life over lifespan, the respondents’ desired lifespan averages 69 years—below the national life expectancy, which is projected to reach 73.2 by 2050—suggests a preference for a life of purpose, vigor, and independence over sheer longevity.

“Filipinos are redefining what it means to live a good life,” said Rahul Hora, President and Chief Executive Officer, Manulife Philippines. “They are no longer focused solely on longevity. Instead, they want to live better—with freedom, dignity, and the ability to enjoy life on their own terms. This shift challenges us to rethink how we support them—not just with insurance, but with holistic solutions that enhance their quality of life.”

Health concerns continue to rise, especially among younger Filipinos

The survey also revealed that health issues are a growing concern, particularly among Filipinos aged 25-34. Nearly 44% of respondents reported experiencing physical or mental health problems that affect their daily lives. Despite this, most Filipinos surveyed are not taking enough preventive action.

On average, more than half of the survey respondents engage in only 5 out of 17 recommended preventive health measures that can support a longer, healthier life. Critical indicators of long-term health—such as muscle mass and oxygen uptake—are monitored by just 16% of participants. These metrics are scientifically linked to longevity and overall vitality yet remain largely overlooked.

Despite this, 74% believe their current health habits are sufficient to protect their health as they age.

“There is a clear gap between awareness and action. Filipinos understand the importance of health, but many are not taking the necessary steps to protect it,” added Hora. “This disconnect could lead to long-term vulnerabilities, which will be challenging to address later in life. To bridge this gap, we encourage Filipinos to take more proactive steps, such as scheduling regular check-ups, adopting healthier lifestyle habits, and seeking guidance from healthcare professionals, to help safeguard their overall health and well-being.”

Filipinos face a retirement savings gap

The survey also highlighted the strong relationship between financial stability and health outcomes. A significant 80% of respondents believe that their financial well-being directly affects how long they can remain physically healthy. Similarly, 76% say it impacts their mental health and emotional resilience.

 However, despite this awareness, the average retirement savings among Filipinos is only PHP 630,000—16% of the PHP 3.85 million they estimate they will need to retire comfortably.

“Filipinos recognize that wealth and health are deeply connected,” said Aira Gaspar, President and Chief Executive Officer, Manulife Investments Philippines. “However, their current savings and investment behaviors do not necessarily reflect this awareness. The gap between what they have saved and what they will need could compromise their ability to live independently and with dignity in later years.”

Retirement planning: A shift in priorities, but gaps remain

When it comes to preparing for retirement, cash remains king for many Filipinos. The survey found that 66% view keeping their money in cash or fixed deposits as one of their top 2 priorities, while 51% express they want to invest in property. However, more than half (54%) also expressed a desire for steady income streams during retirement—something that cash-heavy portfolios may not be able to provide, especially in the face of inflation and rising healthcare costs.

“We are seeing a shift in how Filipinos think about retirement,” Gaspar noted. “While they are starting to realize that relying solely on property or savings may not be enough, many still hold excessive cash, which raises their longevity risk or the risk that they might outlive their savings, particularly in the face of potential longer life expectancy.

Gaspar added, “At Manulife Investments, we empower Filipinos to create more holistic wealth portfolios by giving them diverse and affordable investment choices, which they can use as building blocks to mobilize their savings, receive recurring income streams and achieve financial independence throughout their lifetime. Today, Filipinos can choose from our suite of 22 unit investment trust funds (UITFs), including six income-paying UITFs, spanning multi-asset, fixed income, equity and real estate investment trusts (REITs) asset classes that can be accessed for as little as Php1,000.”

The value of professional financial advice is also evident in the data: 70% of those who work with financial planners believe they will have enough funds for retirement, compared to only 38% of those without such guidance.

Supporting Filipinos’ fresh definition of Longevity

As Philippine life expectancy continues to increase in the coming years, the need for comprehensive health and wealth planning becomes critical.

"The message from Filipinos is clear—they want to age with dignity, maintain their independence, and have the financial freedom to do what matters to them," Hora concluded. "At Manulife, we are committed to evolving our products and services to support this vision. That means offering solutions that go beyond medical and critical illness coverage to address health protection needs and offering investment options that can provide reliable income streams for a better, more fulfilling life.”

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Resources:

●     Manulife Asia Care Survey 2025 - https://www.manulife.com.ph/about-us/manulife-studies/asia-care-survey/2025/top-wish-of-filipinos-in-golden-years.html

●     National life expectancy - https://population.un.org/wpp/

Investing in Your Whole Self: How Filipinos Can Save for a Better Future

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In the rigors of daily life, it can be easy to neglect the basics of physical and mental well-being. Between work, family responsibilities, and the rising costs of living, finding the time and resources to protect your financial well-being also often falls by the wayside.

A recent Manulife study shows that Filipinos surveyed are increasingly concerned about maintaining their physical, mental and financial well-being in years to come. The 2024 Manulife Asia Care Survey revealed that while Filipinos have high aspirations for the future, increased costs of living impact their confidence, especially when it comes to their finances.

As Filipinos navigate economic challenges today, most of them are already looking into planning for the future, including securing financial safety nets, such as having passive income (43%), building emergency savings (39%), and finding ways to attain financial freedom (32%) after retirement. However, these goals are perceived to be difficult to attain due to the rising healthcare costs (82%), threats of inflation (81%), and economic slowdown and recession (78%).

"Many Filipinos are grappling with a number of challenges that are impacting their ability to feel secure about their overall well-being within the next decade, including their financial confidence," said Grace Mallabo, Chief Health and Products Officer, Manulife Philippines. "It goes to show that a holistic approach to health and wellness—one that addresses physical and mental well-being, as well as financial preparedness—is very important."

One way to give you and your families peace of mind to focus on living your best lives at present is by preparing for the future through a reliable savings and life insurance plan. Whether it is ensuring that your family is cared for in the event of an unexpected health emergency, or building savings to help fund your dream retirement, your child’s education, or your passions, protection plans like Manulife’s Freedom can serve as a valuable safety net through life's ups and downs.

Freedom offers guaranteed cash payouts – 10% of your face amount – which customers can choose to receive every two years after full payment, or they can opt to leave it to accumulate until maturity. It also has a guaranteed one-time cash benefit, either after 20 years or at age 65; as well as guaranteed life insurance protection equivalent to 200% of the policy’s face amount.

China Bank and China Bank Savings customers can also enjoy the same guaranteed benefits with Manulife China Bank Life’s Assure Max.

More than the financial shield that comes with insurance, building an emergency fund, sticking to a budget, and making sound financial decisions are also valuable on your road to holistic wellness.

Achieving a more financially secure future may not always be easy, but it is a worthwhile journey that can provide long-term benefits. By taking proactive steps for your physical, mental, and financial well-being today, you can live a worry-free present and tomorrow.

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About Manulife Philippines

The Manufacturers Life Insurance Company opened its doors for business in the Philippines in 1907. Since then, Manulife’s Philippine Branch and later The Manufacturers Life Insurance Co. (Phils.), Inc. (Manulife Philippines) has grown to become one of the country’s leading life insurance companies. Manulife Philippines is a wholly owned domestic subsidiary of Manulife Financial Corporation, among the world’s largest life insurance companies by market capitalization. Learn more about Manulife Philippines by visiting their website www.manulife.com.ph and following them on Facebook (www.facebook.com/ManulifePH), Twitter (@ManulifePH), and Instagram (@manulifeph).

About Manulife China Bank Life

Manulife China Bank Life Assurance Corp. is a strategic alliance between Manulife Philippines and China Banking Corporation (China Bank). It provides a wide range of innovative insurance products and services to customers of China Bank as well as the bank’s thrift arm, China Bank Savings (CBS). MCBL aims to ensure that every client receives holistic life, health, and wealth solutions to address his or her individual needs.

Since opening in October 2007, the company has grown into a business of significance for both Manulife and China Bank. The two strengthened their partnership further in 2014 when China Bank raised its equity stake in MCBL to 40%. MCBL is setting its sights on its next growth phase and reaffirming its mission to be the biggest, most professional bancassurance company in the industry that delivers extraordinary customer experience.

About Manulife

Manulife Financial Corporation is a leading international financial services provider, helping people make their decisions easier and lives better. With our global headquarters in Toronto, Canada, we provide financial advice and insurance, operating as Manulife across Canada, Asia, and Europe, and primarily as John Hancock in the United States. Through Manulife Investment Management, the global brand for our Global Wealth and Asset Management segment, we serve individuals, institutions, and retirement plan members worldwide. At the end of 2023, we had more than 38,000 employees, over 98,000 agents, and thousands of distribution partners, serving over 35 million customers. We trade as ‘MFC’ on the Toronto, New York, and the Philippine stock exchanges, and under ‘945’ in Hong Kong. Not all offerings are available in all jurisdictions. For additional information, please visit manulife.com.

Manulife Survey Shows Filipino Consumers See Managing Healthcare Costs as Critical for Financial Well-Being in Later Life

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A healthy lifestyle and good physical well-being are the essential elements for positive financial and mental well-being among consumers in the Philippines as they plan for longer lifespans, and lengthier and more comfortable retirements, according to new research by Manulife. Yet financial confidence among Filipinos is low amid concerns about inflation, particularly rising healthcare costs.

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• Survey of 1,050 consumers in the Philippines focuses on health and long-term savings for longer life spans

• Rising healthcare costs is the number one concern, while medical inflation perceptions are too high 

• Most people in the Philippines do not rely on their children to provide for them in old age

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Manulife’s new Asia Care Survey 2024 drew on responses from 1,050 consumers in the Philippines. It launched Manulife’s MyFuture Readiness Index, which measures how consumers view their current and future physical, mental, and financial well-being. On a scale of 1 to 100, the index shows their desired readiness level to be 91, which is above the regional average, but the expected level to be 79, suggesting a lack of confidence about the future.

According to the Filipinos surveyed, the top five challenges impacting confidence in their future well-being are: rising healthcare costs (82%), inflation/rising costs of living (81%), economic slowdown/recession (78%), increasing interest rates (78%) and health trending down (73%). 

To help save and prepare for their envisioned future, including for greater longevity, retirement and unexpected medical needs, the Filipinos surveyed highlighted having a passive income after retirement (43%), having sufficient savings for a rainy day (39%), financial freedom in retirement (32%) and having enough savings for healthcare needs (31%) as their main financial goals.

“The survey reveals a lot of anxiety around economic volatility, healthcare-related expenses and uncertainty, which dampens the optimism of many Filipinos in achieving high-quality well-being in the future,” said Rahul Hora, President and CEO, Manulife Philippines. “But there are ways to address these concerns so they are future-proofed. Significant of these is the value of financial advice and guidance that can help them assess and bring their goals closer to fruition, mitigate risks, and find the right products that provide stronger health and life protection, as well as investment and retirement solutions.” 

Healthcare costs perceived to be too expensive

In the survey, 82% cited rising healthcare costs as a top threat– a percentage that rises to 86% among 50 to 60-year-olds. Their concerns are understandable given that 44.7% of health expenses in the Philippines are out-of-pocket, in total reaching US$9 billion in 2022. It is an amount that Manulife expects to reach US$13 billion by 2028 and account for 38% of their overall medical expenses. 

“We see in the Philippines a realization of longer life expectancy and people rightly want to enjoy good health for a longer time. Healthcare costs trump inflation as their main concern for the future, with women being in general more concerned than men,” said Hora. “To navigate this, there is a need for effective financial planning. It is fair to expect medical costs to rise faster than inflation given aging populations and increased pressure on healthcare services, but our survey suggests that perceptions on the extent of such rises are well above actuality.” 

The survey shows that over the past 12 months, the perception of the Filipinos surveyed on healthcare cost inflation was 32%, the highest in the region (average 23%) and around three times the actual rate. Most respondents (61%) are concerned about the rises in cost of prescriptions, while 59% of them are worried about hospitalization, and 45% about preventive healthcare. Curiously, elderly care (16%) is much lower.  

The potential illnesses that worry people in the Philippines the most are heart disease (46%), the leading cause of death in the country, diabetes (42%), stroke (34%) and cancer (31%).  With the broader concerns about their physical well-being and rising medical costs, 78% of the respondents agree that increasing insurance coverage and benefits for inflation is a crucial part of planning for my future financial well-being.  

The findings show a sizeable segment adopting a strategy of using less expensive healthcare (41%) services and medicines (53%), well above the regional average of 31% and 29% respectively. According to the survey, this would typically mean using government health services and generic drugs, rather than going private. Alongside that, about three quarters are exercising more or improving their diet.

Children no longer viewed as alternative to a pension

Across all the markets covered in Asia, 7 out of 10 of those surveyed said they feel health benefits and coverage from their employers are not enough. In the Philippines, it was a little higher at 76%. As things stand, 78% of the Filipinos surveyed feel a need to top up retirement and pension benefits they receive from their employers to boost their future financial well-being. In addition, 58% are looking to delay retirement because of their financial responsibility for their family.

Traditionally in Asia and elsewhere in the world, an alternative to insurance and a pension for old age would be having children. But that is not the case now in the Philippines where 58% of the Filipinos surveyed disagree that children are great investments because they provide support in old age. Only Japan had a higher rating at 70%. In the markets covered, half those surveyed said they do not plan to have kids. The average number of children wanted by Asians is 1.6. In the Philippines, the preferred number is 1.8.

“We encourage more Filipinos to consider ways to increase their health protection. At the same time, insurers have an important role in helping them do that, including changing perceptions on health costs and focusing on specific individual needs. There’s a need also for greater financial literacy,” said Hora. “Doing that will enable everyone to focus on ways to effectively address the challenges on health protection and long-term savings that exist.”

To help address the unique needs of Filipinos when it comes to their health, well-being and finances, Manulife Philippines offers a suite of innovative insurance and investment solutions that can help them financially prepare for the future, while ensuring life and health protection coverage in case of the unexpected. 

About the Manulife Asia Care Survey 2024 

In its fifth year running, the latest Manulife Asia Care Survey was conducted in January and February 2024 via online self-completed questionnaires in eight markets. A total of 8,400 individuals, evenly split between men and women, aged 25 to 60 years old were surveyed: mainland China (1,052), Hong Kong (1,052), Indonesia (1,063), Japan (1,000), Malaysia (1,038), Philippines (1,050), Singapore (1,038) and Vietnam (1,107).  Each of those surveyed either owns insurance or intends to buy insurance. For more info, visit www.manulife.com.ph 

Manulife Financial Corporation is a leading international financial services provider that helps people make their decisions easier and live better. With our global headquarters in Toronto, Canada, we provide financial advice and insurance, operating as Manulife across Canada, Asia, and Europe, and primarily as John Hancock in the United States. Through Manulife Investment Management, the global brand for our Global Wealth and Asset Management segment, we serve individuals, institutions, and retirement plan members worldwide. At the end of 2023, we had more than 38,000 employees, over 98,000 agents, and thousands of distribution partners, serving over 35 million customers. We trade as ‘MFC’ on the Toronto, New York, and the Philippine stock exchanges, and under ‘945’ in Hong Kong.

Not all offerings are available in all jurisdictions. For additional information, please visit manulife.com.

Maxicare inks partnership with Manulife

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Maxicare Healthcare Corporation, the country’s leading healthcare provider, recently formed a 2-year partnership with Manulife Philippines, the largest insurance company in the country, to help make lives of Filipinos better through easy access to financial and health products. The partnership allows for cross-training of over 3,000 Maxicare agents who can now sell Manulife products and of over 9,000 Manulife Philippines financial advisors who can now include Maxicare healthcare products in their portfolio. 

Photo shows (L-R) Maxicare chief consumer officer Rodelee Uy, Manulife Philippines SVP and chief distribution officer Stephen Ong, Maxicare president and CEO Christian Argos, Manulife Philippines president and CEO Ryan Charland, and Maxicare chief operating officer Nelissa Badal.

For more information, visit www.maxicare.com.ph.

Philippines investors look far and wide for opportunities, but stay close to home for investment and advice – Manulife Survey

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·      Philippines investors favor developed economies over emerging Asia and show least home-market bias of any investors in Asia

·      Personal networks, bricks and mortar dominate approach to investing

·      Philippines investors remain most optimistic in Asia

Investors in the Philippines are among Asia's most optimistic and most outward-looking, given their willingness to invest outside the Philippines to gain returns, according to the latest Manulife Investor Sentiment Index* covering the second quarter of 2014.

Philippines investors reach across emerging Asia to mature markets

When asked which region they think is best to invest in, Philippines investors point to developed Asia, Australasia and North America over emerging markets, including emerging Asia and the Middle East and North Africa.

Fig. 1 – Philippines investors favour developed and distant markets over China and emerging Asia

Philippines investors seem less affected by home-market bias than any other investors in the survey. Given a selection of single markets, they show most enthusiasm for Canada (76 points) and Japan (73) above the Philippines itself (51), and show least for China (44), which most other Asia investors rank relatively higher.

When it comes to growth, Philippines investors are also most optimistic about Japan and Canada, with 19 percent believing that Japan’s economy will be the fastest growing in the next two years, followed by Canada, China and Australia. This contrasts markedly with the average Asia investor, 27 percent of whom expect China’s economy to grow fastest, followed by much lower expectations for Japan Australia and Canada.

Fig. 2 – Philippines investors’ views of which markets will grow fastest

contrasted markedly with investors elsewhere in Asia

"Our research suggests that Philippines investors’ preference for Japan is likely related to Japan’s first quarter GDP growth which came in at 6.7 percent on strong consumer demand ahead of the implementation of a new goods and services tax," said Aira Gaspar, CFA, Chief Investment Officer of Manulife Philippines.

“It's also interesting that Philippines investors seem so keen on Canada. We think there is a sound basis for this given that Canadian equities outperformed their developed market peers in the first quarter."

Philippines investors rely on friendly advice, ‘bricks and mortar’ approach to portfolios

Despite their international outlook, Philippines investors place their faith closer to home when it comes to making investment decisions, with 88 percent relying on or referring to family, friends or colleagues as a source of advice – the highest level in the region and well above the regional average of 58 percent. They are less dependent on industry staff, mass media or online sources of investment advice.

Philippines investors also have a very ‘bricks and mortar’ approach to portfolio composition, with 61 percent saying they own investment property (against the Asian average of 19 percent) and 75 percent owning their own home (against an Asian average of 50 percent). Cash and property together make up the bulk of their portfolios. Conversely, they have much lower ownership of stocks (15 percent versus the Asian average of 48 percent) and mutual funds (6 percent versus 23 percent) – even though their sentiment towards equities is the highest in Asia.

“Philippines investors rely largely on their own networks for their investment decisions" said Ryan Charland, CEO of Manulife Philippines. "While it is comforting to speak with family and friends for investment advice, investors would benefit from consulting investment professionals, who could help them build a sound and diversified portfolio that meets their medium to long-term financial goals.”

Philippines investors are Asia's most optimistic

In addition to their positive views about investing overseas, Philippines investors remain optimistic about investing at home with the sentiment index for domestic investment at 59, the highest in Asia. This optimism was spread across all asset classes in the survey, which all saw increases except cash. Fixed income saw the biggest increase, up 5 points to 50; followed by stocks, up 4 to 45. Mutual funds rose 1 point to 36. Property has taken the lead as the most favored asset class, with home property highest at 75, up 1 in the quarter, while investment property rose by 4 points to 74. Cash was the only asset class to see a decline, down 9 to 73, but still remains high.

”Filipino respondents were generally upbeat, despite weaker-than-expected first quarter 2014 GDP growth and uninspiring corporate earnings for the same period,” confirmed Ms. Gaspar. “We believe sentiment was boosted by a credit rating upgrade from Standard & Poor’s and an increase in government spending on much-needed infrastructure projects. The country’s resilient private consumption, rising investment cycle, recovering manufacturing industry and favorable consumer and business confidence bode well for economic activity and a positive earnings growth story. However, investors’ sentiment could turn sour if policy reforms aimed at addressing infrastructure deficiencies and fostering inclusive economic growth stall.”

For more findings and related information from the Manulife Investor Sentiment Index in Asia, please visit www.manulife-asia.com.