EastWest Ageas Life Insurance reaffirmed its mission to help Filipinos achieve financial preparedness and security through its recently held Trade Show for Media Partners in Manila — an event that combined education, engagement, and empowerment.
The event began with an interactive activity on life choices, setting the tone for a deeper discussion of the Purple Market Report, a study commissioned by EastWest Ageas and conducted by NielsenIQ, which examines how Filipinos perceive life insurance, financial readiness, and emergency savings.
Through the report, EastWest Ageas shed light on how prepared Filipinos are for life’s uncertainties — and the areas that still need attention.
“While Filipinos are practical, they should not have to forego financial planning to prioritize current needs. Both should come hand-in-hand, partnered with the right tools and financial literacy programs, tailored insurance solutions, and inclusive savings programs,” EastWest Ageas said.
Despite growing financial awareness, only 2 out of 10 Filipinos have emergency funds that can last more than three months. The study found that most Filipinos only have around ₱50,000 in emergency savings — an amount insufficient to cover major medical or financial crises.
With 30% of salaries typically going toward essential expenses such as food, rent, and transportation, many Filipinos find it difficult to allocate funds for long-term goals. Yet, preparedness remains a priority:
- 52% worry about their loved ones’ health.
- 24% are concerned about critical illnesses and rising medical costs.
The data also reflects improved financial stability among Filipinos aged 40 and above, as this group tends to have at least three months’ worth of emergency funds — a sign that financial discipline and awareness increase with age.
However, economic pressures such as inflation and income instability continue to challenge younger earners. In times of emergency, Filipinos rely heavily on personal savings, family support, or informal borrowing, which underscores both their resilience and vulnerability.
The Purple Market Report is part of EastWest Ageas’ broader PURPLE Approach, which aims to help Filipinos lead more prepared, purposeful, and protected lives through accessible financial solutions and literacy programs.
By encouraging discussions on preparedness and protection, the company continues to push its advocacy of financial inclusion and wellness through education.
EastWest Ageas — a joint venture between EastWest Bank and Ageas, a global insurer with over 200 years of experience — continues to bridge global expertise and local insight to empower Filipinos in securing their future. (with reports from Lau Balocos)
