Insurer extends financial literacy to students, women

In this undated photo courtesy of the The Manufacturers Life Insurance Co. (Phils.) Inc. shows a screenshot of participants to the insurer’s “Peso Smart University.”

THE The Manufacturers Life Insurance Co. (Phils.) Inc. (Manulife) announced it has expanded its financial literacy program called “Peso Smart” with new sessions for over 300 university students from across the country.

Manulife added it also extended the program to provide financial lessons to 50 female heads of household from two communities in Quezon City and Sagada, Mountain Province. To further promote financial education through creative storytelling, a new iteration of the insurer’s storybook series is also available to download for free on the company’s website.

“These initiatives are aligned with a key area of focus within Manulife’s global impact agenda: driving inclusive economic opportunities to create a more even playing field for all,” the insurer said. It added that since starting the program in 2017, its financial literacy program has produced more than 1,500 graduates nationwide.

“We continue to evolve ‘Peso Smart’ so we can reach more Filipinos and equip them with the financial skills they need to be smarter money managers,” Manulife Philippines Chief Marketing Officer Melissa Henson was quoted in a statement as saying. “Through customized modules and activities that are delivered using various media, we share knowledge and practical skills that can empower them to save, grow their money and more confidently take charge of their future.”

Informed decisions

TO respond to the increasing desire among Filipinos for financial well-being, Manulife said it held a 4-part virtual “Peso Smart University,” or PSU, class attended by 300 university students “who learned more about personal finances, investments and unit investment trust funds [UITFs], as well as explored a career as a financial advisor.”

This year’s PSU students included scholars of the Gawad Kalinga Community Development Foundation Inc. who study at various universities, along with students from Silliman University, Saint Scholastica’s College Manila, University of Santo Tomas and University of the Philippines-Los Baños.

In partnership with the Corazon Sanchez Atayde Memorial Foundation Inc., the financial literacy program also produced self-learning modules and instructional videos for female heads of household from Quezon City and Sagada, Mountain Province. These women gathered weekly for 2-hour huddles with a financial expert to discuss, share and analyze outputs, according to the insurer.

“To make financial education a family affair, we hope to empower Filipino families to manage their finances and make informed decisions together—like setting and monitoring their budget for basic necessities, saving for emergencies and covering school expenses—so that they can collaboratively build their plans for a better future and live every day better,” Henson said.

Image credits: The Manufacturer s Life Insurance Co.


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