#CulturePH - Young Filipinos favour human advice for life and health insurance decisions
Young Filipino adults aged 20 to 35 continue to place strong trust in human financial advisers when making life and health insurance decisions, even as digital financial tools become more widely used. In a recent study on the Financial Mindset of Young Adults in Asia by Prudential plc, a leading Asia and Africa insurer and Pru Life UK’s parent company, the Philippines stands out as the most human advice-oriented market among seven Asian markets surveyed, with young adults showing a strong preference towards advisers over digital tools for insurance guidance.
This preference is set against a widespread feeling of uncertainty, with 73 per cent of young Filipinos believing they now live in an era of unpredictability, the highest across the region. Rising living costs, family health and concerns about financial security and support in old age are among their top worries. In this environment, stability and reassurance matter, particularly when decisions involve protecting health, income, and loved ones.
Despite ongoing
uncertainty, young Filipinos are the most optimistic about their financial
future compared to their regional peers: 81 per cent expect their personal
financial situation to improve over the next five to ten years. While 38 per
cent see more risks emerging from current uncertainty, a slightly larger
proportion of 44 per cent believe there are more opportunities ahead.
When considering the
purchase of life or health insurance, 76 per cent of young Filipinos prefer
consulting an insurance agent or specialist for advice, compared with 24 per
cent among other Asian markets, who prefer digital tools such as comparison
platforms and AI-based tools. This preference for human guidance remains
consistent throughout the insurance journey, with the majority of respondents favouring
advisers for help with identifying relevant products (68 per cent), explaining
coverage details (80 per cent), navigating the claims process (71 per cent),
and managing their policies (65 per cent).
While young Filipinos
are digitally confident and actively use online tools for research and everyday
financial management, they turn to advisers when decisions become high stakes.
Life and health insurance choices are viewed not as simple transactions, but as
moments that require explanation, reassurance, and trust. This is reinforced by
regular, real-world interaction with financial advisers, with 80 per cent of
young Filipinos having met or spoken with one in the past five years.
This strong alignment
between consumer preference and adviser-led engagement highlights the role of
Pru Life UK’s close to 38,000 licensed insurance
agents nationwide. Its extensive and digitally-enabled agency force is
positioned to support young Filipinos at the moments that matter most,
providing personalised advice, clear explanations, and trusted human guidance
for life and health protection decisions, while digital tools continue to
enhance access, speed, and convenience.
Kathryn Cajucom, Head of
Brand & Integrated Marketing Communications at Pru Life UK, said: “We
understand the hopes and challenges of young Filipinos in securing their
financial future. This generation is purposefully planning for tomorrow while
balancing the needs of today. We are committed to supporting their aspirations
by providing solutions that are simple, accessible, and relevant to their lives.
They can always Count on PRU in helping them protect their possibilities
and nurture every promise for themselves and their families.”
The research, Financial
Mindset of Young Adults in Asia, surveyed 5,348 young adults across Hong Kong,
Indonesia, Malaysia, the Philippines, Singapore, Taiwan and Thailand, through
an online quantitative study conducted in July to August 2025.
For deeper insights into the evolving priorities, concerns and preferences of Asia’s young adults, access the full report here.
Comments
Post a Comment