Most Filipinos have only around ₱50,000 in emergency savings, an amount that can be quickly depleted by a single medical emergency, a new study found, as rising inflation continues to strain household finances.
The PURPLE Report, commissioned by EastWest Ageas in partnership with NielsenIQ, revealed that inflation—recorded at 4.1 percent in March 2026—is making it harder for families to balance daily expenses with long-term savings.
According to the study, 8 out of 10 Filipinos rely on personal savings to pay for medical bills, yet only 20 percent have enough emergency funds to last more than three months. This leaves many households vulnerable to financial distress after just one hospitalization.
The report also found that while 9 out of 10 Filipinos recognize the importance of life insurance, the country’s insurance penetration rate remains low at 1.79 percent. Researchers attribute this gap to the need to prioritize daily expenses, with only about 7 percent of income set aside for financial planning.
In response, EastWest Ageas is expanding its nationwide presence and promoting insurance solutions aimed at helping Filipinos manage both immediate and future financial needs. The company presented these initiatives during trade shows in Manila and Cebu.
The insurer said it continues to grow its network, now with four agency houses in Luzon and more than 1,300 financial agents available for consultations.
Company officials said the expansion is part of efforts to help Filipinos strengthen their financial security despite rising costs and economic challenges.
