Manulife Philippines President and CEO Rahul Hora presents findings of their latest study “In Wellness and In Health: Navigating the landscape of health, wellbeing, and financial preparedness in the Philippines.”
One of their key findings was that younger Filipinos are getting sick more often. The study found that among all respondents, the average number of sick days a year is 2.7 times. However, that number rose for those between the ages of 18 to 29, to an average of 3.4 times a year. The lack of proper sleep and exercise, as well as the tendency to neglect their overall health, can make younger Filipinos more susceptible to illness. Moreover, the survey also reported that this age group is also more reluctant to change their lifestyles due to a perceived “fear of missing out.”THE same study found that cost remains a top barrier to Filipinos’ ability to adopt a healthier lifestyle.
While the study found that a healthy diet is perceived as the best way to prevent illness, three out of 10 Filipinos acknowledge their unhealthy lifestyles, and 50 percent admit to consuming mostly unhealthy meals. This reliance on personal funds underscores a significant gap between perceived health insurance coverage and the actual financial burden of medical emergencies. This exposes many Filipinos to unexpected financial strain.
However, according to the survey conducted, younger Filipinos aged 18 to 29 have saved significantly less, with an average of only P38,000. This disparity suggests that younger individuals might be less prepared to handle unexpected medical costs.