A recent global survey conducted by FWD Group Holdings Limited revealed that the ongoing economic challenges are among the top causes of mental health among Filipinos. The FWD Group survey in collaboration with Blackbox, an independent research company, interviewed more than 10,000 respondents across sixteen international markets and was one of the largest completed in Southeast Asia.
As the prices of common goods continue to rise, 56% of Filipino respondents are concerned that inflation will contribute to more mental health issues compared to post-pandemic adjustments. About a third of respondents are also worried about their jobs and family related concerns, including the future of their children/family (38%)and increasing family responsibilities (26%).
The survey also revealed that 63% of respondents believe that mental health will be a critical issue, but only a third of them (39%) are open to seeking external support, citing the cost of treatment as the biggest barrier. However, 82% of respondents are interested in directly addressing their anxiety through insurance.
Read the summary of the report below:
“Our survey shows that the stigma remains strong and treatment costs remain prohibitive to many when it comes to mental health. The struggle with rising prices, unstable finances, and health concerns lead to an uncertain future that is beyond the control of many,” shares Antonio “Jumbing” De Rosas, FWD Life Insurance President and Chief Executive Officer. “Our goal is to address the anxiety that comes from this uncertainty through accessible and affordable insurance products.”
FWD Life Insurance empowers Filipinos, especially future generations, to #Celebrateliving now and build their best future—a future where everyone lives fully, freely, and with financial savvy.
“Supporting our customers’ health and wellbeing, including physical, emotional, mental, social, and financial health, are among our top priorities at FWD,” shares Roche Vandenberghe, FWD Life Insurance Chief Marketing and Digital Business Officer. “We believe a holistic approach to building financial freedom starts with mind strength, and we are building that approach from within and working on extending it to our customers in a way that is meaningful, inclusive, and accessible for Filipinos.”
While FWD Life Insurance ensures their customers get the best and most holistic value for the insurance plans they avail, they also provide comprehensive benefits to their internal stakeholders’ mental health.
FWD employees and the dependents are now equipped with seamless access to ThoughtFull, a subscription-based online platform that provide mental healthcare tools and 1-on-1 daily bite-sized coaching with certified mental health professionals through 24/7 wellness hotline.
Furthering innovation, inclusivity, and human centricity as its core values, FWD Life Insurance continues to hold other programs aside from ThoughtFull to help its employees celebrate living. These include:
• LinkedIn Learning partnership which includes helpful courses to alleviate mental health, covering topics such as meditation and stress management.
• Community Care Time-Off where FWD employees receive two additional days off from work to provide time to do volunteer work and invest in their communities or with their preferred organization.
• LiveLife Wellbeing Strategy provides a fresh outlook for their employees through interactive workshops, cross-pillar activities, and a new support system which allows them to share their daily intentions and participate in physical challenges.
With these programs, FWD Life Insurance actively maintains to incorporate its core values to provide opportunities for more Filipinos not just through their insurance programs, but also in a corporate ecosystem that champions mental wellbeing and better financial planning.
FWD Life Insurance also provides resources to help with physical, emotional, mental, social, and financial health available for all. Learn more at fwd.com.ph/health-and-wellbeing.