Manulife Philippines, the local arm of leading international financial services provider Manulife, has entered into a strategic partnership with iCare HMO, one of the Philippines’ top health maintenance organizations (HMOs), to help businesses provide employees with more integrated health and financial protection.
Through the partnership, Manulife’s group life insurance benefit will become available to select iCare HMO group customers. The annually renewable coverage complements employees’ existing healthcare benefits, giving corporate clients another option for developing more comprehensive employee benefits packages that address both medical needs and financial protection.
Manulife and iCare Respond to Growing Demand for Holistic Well-Being
The partnership reflects findings from Manulife’s Asia Care Survey, which highlights the growing importance of holistic well-being among consumers across the region.
In the Philippines, individuals are becoming increasingly proactive about their health, placing greater emphasis on preventive care and healthier lifestyles. The survey also found that 88% of respondents consider independence and financial freedom the legacy they want to leave their loved ones. This highlights the growing demand for solutions that support healthier lives and greater financial security.
“Filipinos are increasingly looking for practical ways to protect their health while strengthening their financial resilience,” said Rahul Hora, President and Chief Executive Officer, Manulife Philippines. “Through this partnership, we can complement iCare HMO’s healthcare solutions with life insurance protection for group clients, while exploring new ways to make relevant solutions more accessible. This supports our commitment to help more Filipinos live better for longer.”
“Employers and individuals benefit when healthcare and financial protection work together,” said Geronimo V. Francisco, President and Chief Executive Officer, iCare. “Our partnership with Manulife allows us to expand the range of protection options available to our group clients and explore convenient new channels for broader protection. We look forward to developing solutions that respond to the evolving needs of Filipino employees and families.”
Integrated Employee Benefits and Expanded Distribution Channels
Manulife Philippines and iCare HMO are also co-developing integrated employee benefits solutions that combine their respective products into complementary offerings.
One of the planned initiatives involves embedding Manulife’s group life insurance coverage into iCare HMO’s prepaid cards starting November 2026. This initiative aims to bring healthcare and life insurance protection together within iCare’s existing offerings.
The partnership will also establish a two-way distribution framework, allowing both organizations to reach customers through each other’s authorized channels and corporate relationships. This approach will expand access to their respective protection solutions among group customers.
Beyond these initial initiatives, Manulife and iCare plan to explore coordinated group life insurance, group medical coverage, and broader employee benefits propositions for businesses across the Philippines.
Strengthening Health and Financial Protection for Filipinos
As customer needs continue to evolve, Manulife Philippines and iCare HMO remain committed to developing solutions that address the growing importance of health and financial security.
Through their strategic partnership, both organizations aim to help businesses provide more integrated employee benefits while giving Filipino employees and their families additional options for protecting their health and financial well-being.
