Filipinos are increasingly feeling the weight of rising healthcare costs, and a new study shows just how vulnerable many households remain when faced with medical emergencies. The PURPLE Report, commissioned by EastWest Ageas and conducted by NielsenIQ, reveals that while nine out of ten Filipinos recognize life insurance as a critical form of protection, most still lack the financial preparedness to withstand unexpected crises.
The ₱50,000 Reality
According to the study, the average Filipino household has only ₱50,000 in emergency funds, a figure that barely covers the average hospital bill of ₱46,640 reported in the 2022 National Demographic and Health Survey. This leaves families just one medical emergency away from financial distress, underscoring the fragility of their safety nets.
The report highlights a troubling gap: although Filipinos value financial protection, this awareness has yet to translate into consistent action. Insurance penetration remains low at 1.79% as of 2025, with households allocating only 7% of their monthly budgets to insurance. Many prioritize daily expenses over long-term planning, leaving them exposed to inflation, income instability, and rising healthcare costs.
Generational Divide
Preparedness tends to improve with age. Filipinos aged 40 and above typically hold more than three months’ worth of emergency funds, compared to younger adults who often struggle to save. Yet even older generations face challenges, as inflation and shifting income streams can disrupt long-term plans and force families to delay or forgo insurance coverage.
At a recent trade show in Cebu, EastWest Ageas reaffirmed its mission to help Filipinos balance present needs with future goals. Through its Suite of Purple Solutions and the #FYP (For Your PURPLE) digi-serye, the insurer aims to demystify insurance for younger markets while offering tailored financial tools for all. The company emphasized that no one should have to compromise long-term security to meet immediate expenses.
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