EastWest Ageas Surveys Pinoys Personal Financial Health
EastWest Ageas shares their findings with various members of the press and blogging community In a study* commissioned by EastWest Ageas, the findings paint a rosy picture of the Filipinos’ appreciation of the importance of getting insured. Eight out of ten Filipinos believe that insurance is essential. This is reflective of the people’s shifting priorities in a post-pandemic world, where security and protection is a must for themselves and their loved ones. And insurance is a solution to present uncertainties that extend to the future. Beliefs opposite actions However, the public’s high reception to getting insured contrasts starkly against the data of what Filipinos are actively doing. According to the Insurance Commission, insurance penetration in the country remains at less than 2%. This equates to roughly 95 million Filipinos without insurance, and vulnerable to major financial risks from unexpected events. For medical emergencies, four out of ten Filipinos actively borrow mo
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