Only two out of ten Filipinos have sufficient funds to cover emergencies, according to The PURPLE Report, a new study commissioned by EastWest Ageas (EWA). The findings were discussed during a press event held on 4 November 2025 in Bonifacio Global City, where EWA executives shared insights from the study conducted by consumer intelligence firm NielsenIQ.

The report revealed that the average Filipino has just around P50,000 in emergency savings, far below the amount needed to recover from major financial shocks such as medical crises.

According to the study, about 30% of household income is spent on daily necessities — including food, rent, transportation, and utilities — leaving little room for long-term savings or investments. This makes it difficult for many working Filipinos, particularly those in the middle class, to build financial buffers despite understanding their importance.

Health-related concerns dominate financial anxieties. The survey found that 52% of respondents worry about the health of loved ones, while 24% are most concerned about critical illnesses and rising medical costs. With treatment for ischemic heart disease — the country’s leading cause of death — costing upwards of P690,000, most Filipinos would struggle to afford care without resorting to loans or community fundraising.

The study also showed that financial preparedness improves with age. Filipinos aged 40 and above are more likely to have at least three months’ worth of emergency savings, reflecting increased financial discipline and stability later in life. Younger generations, however, face greater pressure from inflation and income instability, often relying on short-term savings or informal borrowing during crises.

EWA said the findings highlight the urgent need for greater access to financial literacy programs, affordable insurance, and inclusive savings tools to help Filipinos build resilience. The company emphasized that financial planning should complement — not compete with — daily living expenses, allowing families to achieve sustainable financial protection.

EWA recently strengthened its presence in the Philippine market through its “PURPLE Solutions” platform — a movement combining PURpose + PeoPLE to make insurance more meaningful and personal.

Under the PURPLE banner, EWA has launched innovative products such as the Dream Builder Plan, which offers guaranteed payouts and protection benefits, as well as Life Advantage and Future Assure MAX, which provide flexible lifetime coverage and investment options.

“The sector that we are in, life insurance, is really purposeful. The moment that something happens, insurance takes care of us,” said EWA CEO and President Sjoerd Smeets. “We want to be partners in your lives. We're building a better tomorrow. We're focusing towards easy solutions.”