MANILA, PHILIPPINES ― According to Manulife’s recent study, 77% of Filipino Gen Zs are already researching 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 recently 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 at 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.
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