Nearly six in ten Muslim Filipino households prioritize healthcare over all other concerns in their daily lives, a survey commissioned by the insurer Prudential Life UK has found.
Healthcare even topped the need to provide for one’s family and the need to educate its members under the same survey.
According to the survey, 58 percent of Muslim Filipino households ranked their healthcare needs higher than even the need to meet the daily requirements, or only 51 percent, of such families. Forty-seven percent of these families rank education next in the list of priorities.
The same survey found that 56 percent of these same families expressed concern over healthcare emergencies the most, far more than concerns on the stability of family finances in only 42 percent of households and their lack of insurance and fear of disasters visiting the same household at some point forward.
The survey also found that four in ten Muslim Filipino households long for an insurance and investment product that meet their requirements and without compromising their religious beliefs.
Muslim Filipino households shun going to conventional banks or avail of health services from providers that do not conform to Shari-ah law.
Pro Life UK cited an S&P Global study conducted in 2022 which established that six percent, or three in seven of unbanked Filipinos, hold Islamic beliefs.
These findings have since helped the Insurance Commission craft in May this year the regulations governing the Takaful Window from which Shari-ah-compliant insurance operates.
“The findings help the government and the industry better understand the financial needs of Muslim Filipino population and identify areas for collaboration to drive wider financial inclusion,” Paul Madal, Pro Life UK senior vice president and chief legal, government relations, and sustainability officer, said.
