In the Philippines, the roll-out of COVID-19 vaccines has given Filipinos new hope as it brings an opportunity for people to restart, rebuild, and recover. However, potential risks of the pandemic remain, so being prudent with your financial resources becomes more important than ever.
Based on a recent Manulife Asia Care study, 87% of Filipinos are considering purchasing an insurance product this year, and they are taking charge of their personal health and finances to prepare for the long-term impact of the pandemic.
With an increased interest in insurance and investment products, Manulife Philippines held “Invest in You,” a free financial wellness webinar hosted by award-winning journalist and TV host James Deakin. The webinar focused on how Filipinos can protect themselves and their families from life’s uncertainties while potentially growing their money through variable unit-linked (VUL) life insurance solutions.
“The lockdown has made Filipinos realize that they should prioritize their and their families’ health and financial security through life insurance. Through this webinar, we hope to educate and inspire more Filipinos to take advantage of having the right insurance products that will enable them to live every day better,” Melissa Henson, Manulife Philippines Chief Marketing Officer, said. “Manulife’s VUL plans enable customers to prepare for a better financial future by combining insurance protection and access to investment opportunities with exposure both here in the Philippines, as well as in the world’s biggest economies.”
Renowned financial consultant Marvin Germo discussed the importance of diversifying your portfolio and how VUL products can give you both the “offense” and “defense” you need when it comes to investing.
“When investing, it’s important to distribute your assets to channels that would work hard for you while allowing you to enjoy the things that you love to do. VUL products give you this opportunity as it provides life insurance protection, in case something bad happens, while being able to grow your investments that give you a potentially strong return at the same time.”
He added, “Always remember that your motivation when investing should be achieving your financial goals. Having the right partner to help you navigate this journey by giving sound strategies and advice is crucial.”
Zed Matubis, Vice President and Head of Wealth Sales of Manulife Asset Management, advised that 2021 is poised to be a “recovery year,” but there are still risks to consider.
“While the rolling out of the vaccines provides optimism for the re-opening of economies, resulting in higher GDP growth and corporate earnings, we still have to be cautious of the increasing COVID-19 cases, which will have a great impact. It would be best for investors to have a long-term investment horizon and diversify their portfolios.”