Manulife Shop offers life and accident insurance plans for as low as PHP 199/year!

Manulife Shop is now officially open! It is an online store offering life and accident insurance for as low as PHP 199 per year!

Manulife Shop is now up and running!

Manulife Shop now online to provide affordable insurance to Filipinos

You can get insured for as low as PHP 199/year!

Manulife Shop offers annually renewable insurance products with life protection coverage up to PHP 1,000,000, subject to the terms and conditions of their purchased insurance policy. Customers can choose their coverage based on their budget. The platform was created in collaboration with Democrance, an internationally recognized insurtech start-up that digitizes insurance value chains and distribution channels for emerging market segments.

In a recent study by Manulife titled "The Modern Filipino Family: Exploring family dynamics and digitalization in the new normal," it was discovered that 82 percent of Filipinos use finance apps for making cashless payments, and 82 percent use e-commerce applications. 

In addition, among those polled, 33 percent of Filipino millennials and 25 percent of Filipino Gen X respondents said they had purchased insurance goods online in the previous year, while 41 percent of Gen Z respondents said they planned to do so in the next year. Convenience, security, and protection were the top three reasons given by respondents in the poll for purchasing insurance products online (45 percent, 22 percent, and 17 percent respectively).

There are three products available on Manulife Shop at the moment:

365 Ready Accident - PHP 199/year

365 Ready Life - PHP 249/year

365 Ready Duo - PHP 448/year

The 365 Ready Accident is an accident life insurance policy that offers coverage for double indemnity, accidental death, dismemberment, total and permanent disability, and family support.

365 Ready Duo combines 365 Ready Life, a term life insurance product, with 365 Ready Life.

You can check out the Manulife Shop here.

What do you guys think?