Manulife, iCare expand employee protection beyond healthcare coverage

October 29, 2026

Manulife Philippines and iCare HMO are expanding their corporate benefits partnership to combine healthcare coverage with life and accident insurance, giving employers another way to protect workers and their families against financial shocks.
Under the agreement, select iCare corporate clients can access Manulife’s annually renewable group life insurance with accidental death benefits. Optional supplementary coverage for major critical illnesses will provide additional financial protection alongside existing health maintenance organization (HMO) benefits.
The tie-up addresses a gap in conventional healthcare benefits. While HMO coverage helps employees pay for medical care, life and critical illness insurance can provide financial support when a serious illness or death threatens household income.
“Filipinos are increasingly looking for practical ways to protect their health while strengthening their financial resilience,” Manulife Philippines president and chief executive officer Rahul Hora said.
The companies are also developing additional offerings, including plans to embed group life insurance into iCare prepaid HMO cards starting November 2026.
A two-way distribution arrangement will allow both companies to reach customers through each other’s authorized channels and corporate relationships, broadening access to insurance and healthcare products through existing employer networks.
“Employers and individuals benefit when healthcare and financial protection work together,” iCare president and chief executive officer Geronimo V. Francisco said.
For employers, the partnership offers a way to expand employee benefits without treating medical coverage as the sole line of defense against financial hardship.
The companies plan to explore broader combinations of group life, group medical and other employee benefits, drawing on iCare’s healthcare network and Manulife’s insurance capabilities.
The arrangement could help both companies deepen their corporate customer relationships as employers seek more comprehensive benefits packages. Its reach, however, will depend on uptake among eligible iCare clients and the rollout of the planned prepaid-card coverage.
The partnership reflects a broader approach to employee protection, linking access to healthcare with financial safeguards against risks that medical coverage alone may not address.