The Best Time to Invest in Health Protection is Now

Manila, Philippines — Young Filipinos are becoming more conscious about their health span, or how long they will enjoy good health, according to the recent Manulife Asia Care Survey. While Filipinos surveyed, on average, expect to be healthy until approximately 62, younger millennials (born 1989 to 1996) anticipate that they will only be at the prime of their health until age 55.

The pandemic brought unprecedented changes, especially regarding one’s health and finances, so Filipino millennials and Gen Zs have become concerned about financial security. They realized that they needed to start investing in life and health protection, or find more ways to grow their money, especially in light of the following concerns:

1. Their critical illness risk. Genetics, the environment, the stresses of modern living, and even binge-eating and endless feasts brought by the holidays, may conspire to put everyone at risk for various critical illnesses. Even Gen Z and millennials find that their relatively young age does not guarantee protection. For Filipinos, coronary heart diseases, tumors, and cerebrovascular conditions are the top health and mortality risks, according to the Philippine Statistics Authority (PSA). 

2. Their poverty risk. Medical treatments remain costly, and they can be challenging even for the otherwise comfortable middle class. This financial burden is a significant concern for many Filipinos, with almost half or 45% of the national health expense coming from out-of-pocket payments. At least 1.5 million Filipino families are pushed to the poverty line every year due to unexpected health expenses, according to the Insurance Commission.

3. Weakened social safety nets due to economic uncertainties. Most Filipinos rely on health maintenance organization (HMO) plans and government-subsidized health insurance programs for their protection. However, with economic uncertainties causing medical inflation to soar to as high as 12-13%, Filipinos need more resources to cover the rising costs of hospital and medical treatments. 

While they realize the importance of bolstering one’s health protection, some millennials and Gen Zs – many of whom are just starting their careers, shifting priorities, or changing life journeys – may feel held back by their limited income.

To address this gap and help make it easier for young Filipinos to boost their health and life protection, Manulife offers HealthFlex and FutureBoost.

HealthFlex, an innovative and flexible life and health insurance plan that protects against up to 112 critical illnesses and guarantees health coverage until age 100. Furthermore, if diagnosed with one of these covered critical illnesses, premiums are automatically waived, allowing them to focus on recovery instead of worrying about their medical bills. They can also customize their plans by adding coverage benefits for early-stage illnesses, second occurrences of cancer, heart attack, or stroke, and hospitalization and recovery assistance.

Meanwhile, FutureBoost is an all-in-one plan for life, savings, and health benefits that offers critical illness coverage of up to 10 times the plan’s face amount or as high as Php 15 million, and access to various investment funds where Filipinos may grow their money and boost their coverage anytime through various add-on benefits, such as hospital income benefit that can help them pay for hospital expenses while protecting their savings. With FutureBoost, young Filipinos can get early protection from critical illnesses, while they save and prepare for their life goals.

As more Filipinos seek insurance solutions but struggle with budget constraints, Manulife strives to find innovative ways to make insurance more accessible, enabling customers to personalize their health coverage while financially protecting themselves and those they love most. 

To learn more about Manulife's life and health insurance products, visit manulife.com.ph.

PLDT, Smart Enable Young Innovators to Serve more Filipino Communities through Technology

PLDT and its wireless unit Smart Communications, Inc. (Smart) equip more young innovators with skills, serving more Filipino communities through inclusive and sustainable technology.

“PLDT and Smart, through their network and technology, have long extended technical support to help the youth turn their plans into actions, and eventually change the world they live in for the better,” said Stephanie Orlino, AVP and Head of Stakeholder Management Team at PLDT and Smart.

The PLDT Group’s Smart Wireless Engineering Education Program (SWEEP), the first and longest-running Philippine industry-academe linkage, and Innovation Generation (InnoGen), an innovation grant program, have served as platforms for the youth to become digital changemakers in their respective communities.

Team SEER from Bataan Peninsula State University, one of the finalists from InnoGen season 2, recently received a financial grant from the US ASEAN Smart Cities Partnership (USASCP) in the Philippines for Kloudtech, an IoT-based weather and coastal flood monitoring system.

“Kloudtech’s goal is to enhance disaster resilience among Filipino communities and support government initiatives, assist business owners, and protect coastal communities and residents in low-lying areas. Kloudtech is here to make cities smarter and more livable,” shared Kloudtech CEO Patrick Gozun.

“We discovered the USASCP grant through our university mentors and their extensive research on available funding opportunities. The application process was driven by our team's proactive efforts, along with guidance from mentors and online resources needed to submit a proposal,” added Patrick.

Kloudtech also showcased its technology in a symposium in Jakarta, Indonesia called "A symposium on Accelerating Science, Technology and Circular Innovation" and the 2023 edition of Prototypes for Humanity in Dubai, exhibiting its innovation alongside prestigious universities from 47 countries around the world like the University of Oxford, Massachusetts Institute of Technology, University of California, Berkeley, Harvard University, and Standford University.

“Securing the grant has opened avenues for Kloudtech to scale up and make a more substantial impact. We anticipate using the funds strategically to enhance our technology, expand our reach, and ultimately contribute to positive change in the areas addressed by our app,” said Dan Martinez, co-founder of Kloudtech.

“The learnings from our InnoGen experience served as a foundational knowledge base. While we did not secure the grand prize, the experience ultimately inspired us to further enhance and refine our product. We are enthusiastic about the journey ahead and remain committed to bringing our innovative idea to fruition,” said Gil Cruz, another Kloudtech co-founder.

Through the years, the PLDT Group has underscored the value of inclusive learning and industry-academe linkages to promote STEM education in the country. This commitment also supports UNSDG #4: Quality Education and is aligned with the vision of the Philippine Government-mandated Private Sector Advisory Council (PSAC).

SM MALLS IN CAMANAVA WRAP UP THE YEAR WITH CHRISMILES

DECEMBER 31- SM City Grand Central, SM Center Sangandaan, and SM City Valenzuela capped off the year with their annual ChriSMiles project. Spearheaded by the Human Resources Department of each mall, ChriSMiles is a employee volunteerism initiative designed to bring smiles to the faces of children while spreading holiday cheer throughout the community.

In Caloocan, children from Tahanang Mapagkalinga Social Development Center were overjoyed as volunteers from SM City Grand Central and SM Center Sangandaan gave love and heartwarming surprises. SM City Grand Central became a hub of joy as the young ones were treated to a day filled with surprises, including a tour around SM City Grand Central, a hearty meal from Jollibee, engaging games from Tom's World, Quantum, and Jack Adventure, and entertaining movies from SM Cinema.

Expressing gratitude on behalf of the Caloocan City Government, City Social Welfare Officer Regina Embalsado conveyed her heartfelt thanks to SM, emphasizing the importance of the ChriSMiles project for the abandoned, neglected, and abused children. " We are very grateful po dahil may magagandang puso na yumayakap sa mga bata. Taos puso po ang pasasalamat namin sa inyo," she remarked.

Meanwhile, the employees of SM City Valenzuela brought joy to the children at Bahay Kalinga ng Valenzuela. Laughter echoed through the air as the youngsters were treated to gifts, entertainment, and a year-end party, creating lasting memories for everyone involved.

SM City Grand Central, SM Center Sangandaan, and SM City Valenzuela go beyond their roles as shopping destinations, evolving into hubs of community spirit and generosity. Fueled by the dedication of each mall and its employees, the ChriSMiles project embodies the true essence of the holiday season. It also serves as a testament to the transformative power of collective efforts, making a positive impact on the lives of those in need.

SM ChriSMiles was made possible through the initiative of the malls and their employees. Each SM employee contributed generously, both in time and resources, to raise a substantial amount of money for the holiday celebrations of less fortunate children.