New EastWest Ageas Report Reveals Filipinos Need More Options For Their Financial Future

A new EastWest Ageas report reveals that 9 out of 10 Filipinos prioritize securing their families’ future, no matter what. However, mounting economic pressures often force them to prioritize household expenses over preparing for their long-term goals.

The fast-rising insurance company discussed the new PURPLE Report 2026 during a recent media meet last September 29, featuring insights from EastWest Ageas and EastWest Bank top executives and Bangko Sentral ng Pilipinas Deputy Governor Bernadette Romulo-Yap on how Filipinos can broaden their financial planning options.

Finding Resources for What Matters

The PURPLE Report 2026 found that 9 out of 10 Filipinos prioritize creating financial buffers for their families to protect them from rising prices, a lack of emergency funds, and unstable or insufficient funds. Additionally, 8 out of 10 Filipinos value securing resources for their families’ future and well-being, children’s education, retirement, and financial independence. Filipinos also recognize the importance of saving for potential health emergencies, with 6 out of 10 looking for funds to cover hospitalization costs amid gaps in health insurance coverage.

However, inflation often limits Filipinos’ financial flexibility, with 43% claiming that their financial situation worsened in the second quarter of 2026. In response, 56% are now cutting back on their budgets to prioritize basic needs, 52% are closely monitoring their expenses, and 42% are reducing nonessential spending. These figures show the tension between planning for the future and meeting immediate needs.

Expanding Filipinos’ Choices To Reach Their Goals

Both private and public financial institutions are working to help broaden Filipinos’ financial choices.

During the Media Meet, BSP Deputy Governor Bernadette Romulo-Puyat said the central bank is building a more inclusive and resilient financial ecosystem. This includes financial literacy programs to help Filipinos develop money management skills, alongside efforts to make financial services more accessible.

Meanwhile, Philippine Life Insurance Association (PLIA) President and EastWest Ageas President and CEO Sjoerd Smeets said the Philippine insurance industry is also working to provide Filipinos with more accessible financial protection. Like the BSP, PLIA promotes financial literacy through its digital education outreach arm, Life Goals PH, and Industrypedia, a guide to insurance terms. It also regularly organizes school tours to help young Filipinos develop financial literacy.

“The previous quarter saw insurance penetration increase from 1.79% to 1.96%, a positive sign that the insurance industry’s efforts to financially empower more Filipinos are slowly paying off. To accelerate this, we hope the public and private sectors continue collaborating on financial literacy programs that can help more Filipinos see insurance as a reliable option for building a secure future,” Smeets said.

For EastWest Ageas, the company has made insurance plans easy to navigate for first-time policyholders through a simplified application process and straightforward benefits. These plans, called the PURPLE Solutions, allow Filipinos to work towards their long-term goals without compromising their daily needs.

Creating Accessible Choices for All

The PURPLE Report 2026 reveals that Filipinos are resilient and resourceful in managing their daily expenses amid higher living costs. However, budget adjustments and reallocation are not a sustainable solution for Filipinos trying to build a future for their loved ones.

This has prompted public and private financial institutions to continue expanding the range of services, solutions, and literacy programs available to Filipinos. Together, these efforts can help them navigate economic pressures, respond to their most urgent financial needs, and prepare for the future.