Manila, Philippines — Global financial services provider Manulife was recently tapped by Bacolod-based consumer goods distributor Number 1 Supplier, Inc. (N1S) to provide life insurance coverage to its employees.
Through the partnership, all eligible N1S employees will be covered by Manulife FutureBoost, a flexible insurance and investment bundle that allows customers to increase their coverage anytime and enhance their protection at every stage of their life journey -- whether starting their careers, building their own families, or preparing for retirement.
“Manulife offers innovative life insurance plans such as FutureBoost that are designed to provide customers long-term protection coverage from unforeseen accidents or health concerns, while also building their long-term funds through the potential investment earnings,” said Rahul Hora, President and Chief Executive Officer, Manulife Philippines. “We at Manulife will continue to create flexible and relevant solutions that will make insurance more accessible to individuals and businesses depending on their priorities and budget.”
“Manulife FutureBoost is ideal for employers like us because it is a comprehensive life insurance plan with no premium charges, giving employees access to expertly managed global and local investment funds and potential income from bonuses,” said Manuel Parroco, President and CEO, N1S. “As securing their families’ future remains a key priority among our employees, we want to address their primary concerns, enhance employee engagement, and strengthen our relationships while ensuring continuous business growth.”
No. 1 Supplier Inc. is one of the biggest fast-moving consumer goods distributors in Negros Occidental, Negros Oriental, and Siquijor, serving 20,000 customers.
Manulife Philippines will continue collaborating with businesses to address their insurance protection needs and increase insurance penetration in the Philippines. Based on Manulife’s 2023 Asia Care Survey, the Philippines ranked the lowest regarding insurance ownership among the markets surveyed, including Malaysia, Indonesia, and Vietnam, among others*.
*The Manulife Asia Care Survey was conducted via online self-completed questionnaires in seven markets: mainland China, Hong Kong, Indonesia, Malaysia, Philippines, Singapore, and Vietnam. A total of 7,224 people, aged 25 to 60 years old, were surveyed in late December 2022 and early January 2023. In the Philippines, 1,004 people were surveyed. Each person surveyed either owns insurance or intends to buy insurance.
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 manulife.com.ph and following them on Facebook (facebook.com/ManulifePH), Twitter (@ManulifePH), and Instagram (@manulifeph).
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 2022, we had over 40,000 employees, over 116,000 agents, and thousands of distribution partners, serving over 34 million customers. We trade as 'MFC' on the Toronto, New York, and Philippine stock exchanges and under '945' in Hong Kong.
Not all offerings are available in all jurisdictions. For additional information, please visit manulife.com.ph
No. 1 Supplier Inc. is one of the biggest fast-moving consumer goods distributors in Negros Occidental, Negros Oriental, and Siquijor. It has more than 350 employees and the business covers an area with 1,219 barangays , 38 cities and municipalities in three provinces with a population of 4.3 million, and serving 20,000 customers.”
John Robert Sion
Virtusio PR International, Inc.