What You Need to Know About Saving Smarter

How do you ensure that the money you’ve been working hard for can help reach your financial goals? Are your savings enough? 

With the culture of hustle and busyness pervading our daily lives, it’s hard to take a moment to really sit down and think about our future. As the recent years under the pandemic have shown, time flies by swiftly, so we must consider preparing for our future by learning how to save smartly. 

First, you have to ask yourself: how do you envision your future life? Does it entail pursuing passions that may have taken a backseat while you were grinding through your 9-5? Is it kicking it back in in your own vacation home upon retirement? Is it maximizing the full potential of your money to ensure a comfortable life? Does it include ensuring the best that quality education can give to your children? Or it is essentially leaving a lasting legacy for your next generation?

The recent Manulife Asia Care Survey reveals that 57% generally feel confident about their finances but their optimism is tempered by the threat of inflation, their most prominent financial concern. However, Filipinos know the value of saving, with 55% of them actually saving for retirement, 43% for healthcare needs and 36% for other emergencies. 

However, 46% of the population rely solely on personal savings and bank deposits to finance their future lifestyles, medical care, and other necessities. This is simply not enough because of the rising costs of goods brought by inflation.  

To help empower more Filipinos in making confident financial decisions for the future, Manulife Philippines encourages Filipinos to prep and plan wisely: by discovering smarter ways to save today!

Amplify the power of your savings

According to the World Bank, only 22% of Filipinos have gross savings, the lowest in ASEAN.  Despite this savings gap, Filipinos recognize the need to save for the future so they can live more comfortably, achieve their goals, and mitigate financial risks. Heightened concerns about finances and the economy, according to Manulife’s Asia Care Survey, also made 80% of Filipinos more interested in insurance, as they recognize the value and protection that it offers. 

But how do you know which savings plan aligns with your goals? Leading global financial services provider Manulife offers flexible and affordable solutions based on your preferences and needs. Each plan has its own perks and benefits, but are all comprehensively designed to empower your financial future.

Freedom offers guaranteed cash payouts during your coverage years and you can look forward to a lump sum amount at maturity that you can use for your children’s education, retirement or lifestyle and travel goals. If you’re looking to grow your savings swiftly, you can earn extra income from the dividend earnings, which you can reallocate back to your funds. 

Should you have an emergency or require funding for personal needs, no need to worry as you can easily borrow from your policy. Take advantage as well of the flexible payment terms that give you the choice of 5-year and 10-year options while enjoying greater security and confidence with the added life insurance that provides coverage for 20 years or up to age 65 for you and your family. 

If you’re looking for a plan that provides you access to expertly-managed local and global funds which can help increase your earning potential, Manulife offers FutureBoost, a flexible and comprehensive plan that enables you to save up quickly and live your best life throughout your retirement years, while offering protection coverage in case anything happens.

With this plan, you can get rewards through multiple bonuses when you pay on time, pay more and stay loyal, which can help grow your funds further.

This particular plan is also flexible enough to evolve with your dreams, so you can adjust your coverage depending on your protection needs. There are also options to boost your coverage through add-on benefits. If you don't have the time and skills to monitor market developments and manage your own investment, do away with the unnecessary anxiety as the investment component of your plan is managed by Manulife Investment Management's professional fund managers who have on-the-ground knowledge and award-winning expertise on their respective strategies.

Finally, WealthOne is a comprehensive single-pay variable life insurance that allows you to grow your wealth by investing in a wide range of local and global investment funds with significant earning potential. Aside from providing flexible life insurance coverage that can go as high as 500% of your one-time premium*, WealthOne also provides a guaranteed start-up bonus to boost your fund value early on, and loyalty bonuses to reward you for staying invested.

The life you build now can create the future you can truly be proud of.  With Manulife, start saving up for the life you want today so you can enjoy a better tomorrow. 

*Terms and conditions apply. 

For more information about Manulife’s full suite of products and services, visit www.manulife.com.ph/.