Many are familiar with the concept of the “American dream,” but what does the Filipino dream look like today? According to the Boston Consulting Group, the Filipino dream is all about achieving financial security, even amid medical emergencies.
The reality of the Filipino dream
However, the reality of achieving the Filipino dream is quite sobering. The PURPLE Report, a study commissioned by EastWest Ageas and conducted by global consumer intelligence leader NielsenIQ, found that 8 out of 10 Filipinos are concerned about securing their financial future amid rising living costs. Inflation continues to stretch household budgets, often leaving little room for savings or emergency funds.
The same study found that most Filipinos only have ₱50,000 in emergency funds. However, with medical costs projected to increase by 16%, this level of financial preparedness exposes many to unexpected health-related expenses.
With the cost of living continuing to rise, the question remains: Is the Filipino dream still within reach?
Solutions to make the Filipino dream a reality
While the Filipino dream may feel distant for most, more Filipinos are beginning to recognize the role insurance plays in turning their financial goals into a reality. The PURPLE Report found that Filipinos prioritize plans that offer value for money, long-term coverage, and critical illness protection. This proves Filipinos’ changing perspective on insurance: that it is not just a backup plan, but a practical financial tool for achieving long-term goals.
As a growing player in the insurance industry, EastWest Ageas continues to develop solutions that address these evolving needs. Thanks to its PURPLE Solutions, Filipinos can get the support they need to get through life’s “what ifs,” “oh no’s,” and “one days.”
Among these PURPLE Solutions is Dream Builder, a plan that offers up to 20 years of coverage with guaranteed cash payouts, easy-to-understand benefits, and a simplified application process.
At present, the Dream Builder plan allows policyholders to choose between paying their premiums within 5 or 10 years, depending on their financial priorities and capacity. The plan will also soon launch a 2-pay option, designed for those who prefer a shorter payment period.
Whether it is navigating rising daily expenses or preparing for potential medical emergencies, the path toward achieving the Filipino dream may be complex—but it is not out of reach. With the right support and planning, EastWest Ageas aims to help Filipinos move closer to their financial goals.
