Manila ― According to Manulife’s recent study, 77% of Filipino Gen Zs are already researching about finance, and 92% of Gen Zs consider owning an insurance product in the next 1-2 years. These young Filipinos also shared that they are mostly interested in life, health, and variable unit-linked insurance (VUL) products.
To respond to the increasing financial transformation of the younger generation, Manulife has extended its financial literacy program Peso Smart University to include students from Ateneo de Manila, University of the Philippines-Diliman, and University of Santo Tomas, after its successful pilot run to De La Salle University last year.
More than 100 university students from these top schools attended the two-day virtual classes in early December 2021, where Manulife’s top actuaries and wealth management experts discussed the importance of insurance, investments, and financial planning so they can learn how to grow their money, prepare for the unexpected, and financially secure their future.
“The goal of the Peso Smart University is to help Filipino Gen Zs understand the various opportunities and platforms available to them so they can start investing in their financial future. Time is their strongest asset, so they are encouraged to learn how to manage their finances by choosing the right options, managing risks and uncertainties, and setting aside funds for important life contingencies,” said Manulife Philippines Chief Marketing Officer Melissa Henson. “These university students, who will soon become part of the Filipino workforce, must form smart money habits early, so they can understand the value of financial independence that can help them secure a better future.”
Key lessons in the program include what it means to be a financially healthy person; setting SMART (Specific, Measurable, Attainable, Relevant and Time-Based) goals; understanding the importance of life insurance protection for peace of mind and to help grow your money; exploring various investment options and value investing; deep diving into unit investment trust funds (UITFs); and making your investment journey better so you can achieve your financial aspirations.
Since its inception in 2020, more than 200 university students have graduated from Manulife’s Peso Smart University program. To know more about Peso Smart, visit https://manulife.pub/PesoSmart.
For more information about Manulife, you may follow their Facebook page or visit https://manulife.com.ph.
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 leading life insurance companies in the country. 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).
Manulife Financial Corporation is a leading international financial services provider that helps 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, our global wealth and asset management segment, we serve individuals, institutions, and retirement plan members worldwide. At the end of 2020, we had more than 37,000 employees, over 118,000 agents, and thousands of distribution partners, serving over 30 million customers. As of September 30, 2021, we had CAD$1.4 trillion (US$1.1 trillion) in assets under management and administration, and in the previous 12 months we made CAD$31.6 billion in payments to our customers. Our principal operations are in Asia, Canada and the United States where we have served customers for more than 155 years. We trade as 'MFC' on the Toronto, New York, and the Philippine stock exchanges and under '945' in Hong Kong.