Demystifying money matters and learning about wealth: From creation to distribution, and everything in between

MANILA, Philippines — Various financial instruments have flourished in the market; yet, when you ask an average Filipino where they put their money, more often than not, everything is in the bank. In fact, older generations may even say, it’s just there safely kept in their house, inside their “aparadors” amongst their clothes or in between their mattresses.

There are many reasons why despite the overflowing information in the internet, Filipinos still choose to put their money where they are used to. They can be confused with what the varied articles they read say, intimidated by the terminologies they meet, or perhaps doubtful whether other financial instruments will really deliver on their expectations.

It is for this reason that the first and largest Filipino life insurance company, Insular Life, takes on being a voice of authority to its countrymen as it provides answers to the questions about money, wealth, insurance and investments via three-minute videos housed in the InLife YouTube channel.

“This is a first endeavor for us, to use the YouTube platform as a means to educate and engage with the Filipino market. Based on the 2018 data of We Are Social and Hootsuite, YouTube tops the Google search queries, so we thought if people are going there to look for answers, then InLife should be there to provide the answers. This initiative is tied to our company’s aim of providing a lifetime for good to its customers, as well as our way of bringing goodness to Filipino families,” said InLife Chief Marketing Officer and Senior Vice President Miriam Choa.

Choa explains further, “The typical Filipino has truly evolved. He/She is empowered, knows what he/she wants in life and is looking for ways to achieve them. Information technology has become accessible to all—first jobbers, newly-married couples, family starters, career builders, even empty nesters and retirees—that they turn to the internet for answers. What the InLife Wealth University aims to do, is to put these advice and information in one platform, so that these common concerns experienced by each of us, may be answered satisfactorily.”

Wealth mentors unmasked

Executive Producer and Senior AVP Johanna Coronado unmasks 75 of InLife’s best financial advisors, bringing about Wealth University which showcases a series of videos that answer questions in the easiest and most practical way possible. Some used their native tongue to be well understood by most. Applying their knowledge, experience and expertise, they converted financial concepts into information that can be easily digested which are relevant to different stages and needs in life. For instance, some of the informative topics in the channel are as follows:

Deciding what to do with money earmarked for annual travel

Raul bay Mabanag, a seasoned InLife Financial Advisor who has been in the industry since 1986, actually came up with the idea of using videos as a platform for educating Filipinos on financial matters. In one of the videos in the Wealth University Youtube Channel, he answers the question many Filipino frequent travelers face: Should I keep some of my money in dollars, or do I just buy whenever I need it?

Deciding whether to avail of an HMO or health plans of life insurers

Digna Lacuanan, an agency leader from Muntinlupa, discusses what many are baffled with: Should one get a health maintenance organization plan, or a health plan being offered by life insurance companies? Digna discusses the benefits given by both types of health protection plans, and gives her recommendation based on these points.

Simplifying investment for millennials

Raymond Cortez, a Wealth Mentor from Manila, is a second-generation financial advisor whose parents are one of the power couples in the life insurance industry. A millennial himself who continues what his parents have started, he tries to explain the concept of investment to millennials and advises them about what they need to do to start their path towards investing.

Making life insurance one’s top priority

Mariel Estioko, a Wealth Mentor from Davao who has been with InLife since 2011, makes a clear case for why everyone needs to have a life insurance plan in place, and why it is important to include that in one’s budget.

Starting one’s savings program

Christina Tiong-Seit, a registered pharmacist from Cebu, and one of InLife’s Wealth Mentors, talks about how wives can budget their husband’s P30,000 salary. She draws from her own experience before she became an InLife financial advisor and explains how wives can start setting aside money from their husbands’ salaries, in order to start their savings program.

Understanding the importance of life insurance

Paulyn Tiongco, an agency leader and Wealth Mentor from Cavite who has been in the industry for 30 years, discusses the core purpose of life insurance and explains why no one should be spared in having one, even if you are still young.

Get to see the other topics discussed and the other questions answered in the InLife Wealth University Youtube Channel. Subscribe now, visit youtube.com/inlifewealthuniversity.