Manulife Philippines and Manulife China Bank Life (MCBL) introduced an investment-linked insurance product that combines critical illness coverage, life insurance, and long-term savings, as healthcare costs continue to rise in the Philippines.
Called “Manulife GoalReady for Health,” the product is designed to help Filipinos prepare financially for serious illnesses while continuing to build savings through investment-linked funds.
The launch comes as more Filipinos struggle with medical expenses and inadequate insurance coverage. According to data cited by Manulife, Filipino households shoulder 42.7% of medical expenses out of pocket, based on figures from the Philippine Statistics Authority. A separate study on cancer treatment costs in the Philippines showed patients spend an average of ₱181,789 during the first year after diagnosis.
Manulife also cited findings from its Asia Care Study showing that about 4 in 5 Filipinos believe financial wellbeing affects both their physical and mental health, as well as longevity.
The company said the product aims to address the financial disruption caused by critical illnesses, which can force families to use savings or delay long-term plans.
“Many Filipinos work hard to build toward their goals, but a serious illness can quickly turn years of progress into an unexpected financial burden,” said Rahul Hora, president and CEO of Manulife Philippines.
“Manulife GoalReady for Health brings together critical illness protection and investment-linked savings for future health needs, helping customers stay financially prepared while protecting what they’ve worked hard to build,” Hora said.
The product provides access to professionally managed investment-linked fund options while offering built-in critical illness and life insurance protection.
“With Manulife GoalReady for Health, we want Filipinos to move forward with confidence, knowing that a health shock need not become a financial setback, so they can focus on recovery while keeping their savings and life goals on track, and live better for longer,” Hora said.
The launch indicates growing demand for insurance products that combine protection and wealth-building features, especially as healthcare inflation and longer life expectancy continue to pressure household finances in the Philippines.