Most Filipinos have only around ₱50,000 in emergency savings—an amount that can be quickly depleted by a single medical emergency. As inflation pushed the cost of goods up by 4.1% in March 2026, many are finding it increasingly difficult to keep up with daily expenses while setting aside funds for long-term financial security.

These insights come from the PURPLE Report, a recent study commissioned by EastWest Ageas in partnership with global consumer intelligence leader NielsenIQ. The study highlights how rising costs are steadily eroding Filipinos’ financial buffers, leaving many more exposed to unexpected expenses.

As more Filipinos grapple with the effects of inflation, EastWest Ageas is expanding its nationwide footprint to help more policyholders balance everyday expenses with long-term savings. This mission came to life during its Manila and Cebu trade shows, where it reiterated its commitment to helping more Filipinos reach their goals amid major setbacks.

Understanding Filipinos’ Most Pressing Needs

During the Manila and Cebu Trade Shows, EastWest Ageas executives presented The PURPLE Report’s key findings and their implications about Filipinos’ most pressing financial concerns. The study found Filipinos value preparing for health emergencies in particular, with 8 out of 10 people using up their personal savings to pay for medical bills. However, only 20% of Filipinos have enough emergency funds to last over three months. This makes them just one hospitalization away from bankruptcy.

Luckily, 9 out of 10 Filipinos recognize life insurance as a critical safeguard for medical crises. This figure, however, has not translated into an increase in policyholders, as the country’s insurance penetration rate has stalled at 1.79%. The PURPLE Report attributes the insurance coverage gap to Filipinos prioritizing daily expenses over long-term savings, with the population allocating only 7% to their financial plans.

Where EastWest Ageas Comes Into the Picture

EastWest Ageas shared during the trade shows that Filipino policyholders often factor in the following in picking their insurance partners: value for money, number of years of payment, and expansive critical illness coverage.

To encourage more Filipinos to begin their financial planning journeys, the insurer has designed its Purple Solutions for different concerns and simplified the overall application process. Here are a few of the plans policyholders can consider:

• Young adults who want to invest in their first life insurance plan can opt for Sure Start, thanks to its fuss-free application process and affordable premiums.
• Future-oriented policyholders can try out the Dream Builder plan and maximize its guaranteed cash payouts.
• Households with massive medical expenses can secure protection from the Life Essentials plan, which covers 48 critical illnesses and conditions.
• Future Assure helps Filipinos build their health by providing access to local and global funds.

Over the years, EastWest Ageas has also expanded its network to ensure more Filipinos can enjoy the benefits of its coverage plans. At present, the insurer has set up four agency houses across Luzon. It also has onboarded more than 1,300 financial agents who are available for consultation online and onsite at any EastWest bank location.

Reflecting on EastWest Ageas’ continued nationwide expansion, President and CEO Sjoerd Smeets said that the insurer wants to help more Filipinos purposefully build on their savings to better the lives of their loved ones amid tough times. “Over the years, EastWest Ageas has made it its mission to help Filipinos balance spending on their daily needs and building their savings. By keeping our PURPLE solutions accessible and straightforward, we hope to help more policyholders reach their financial goals, whatever they may be.”

Despite these benefits, many freelancers still face challenges, including lack of company benefits, feelings of isolation, and unpredictable income. EastWest Ageas’ digital series, #FYP (For Your PURPLE), brings these challenges to life through Thea’s story. Her journey shows her growth from frazzled rookie to flourishing freelancer—with a little help from her PURPLE Barkada.

Want to be like Thea and thrive in a gig economy? Here’s how:

1.) Build a strong portfolio to stand out

The gig economy is lucrative but highly competitive. To stand out, develop a strong portfolio that showcases your best work. And if you can, add client testimonials to boost your credibility.

2.) Network, network, network

Connections matter, and you can build those online and IRL. You can start by using your family, friends, and even former schoolmates and colleagues as your base, and then branch out online through work marketplaces and job sites.

3.) Be strategic with your rates

Charging can be tricky because expensive rates can drive potential clients away, while below-market rates won’t compensate for your hard work. To come up with fair rates, check out industry-standard rates and benchmark from there. Consider other factors as well, such as your years of experience, expected turnaround time, and the scope of work.

4.) Your contract comes first

A contract is a freelancer’s greatest ally. By clearly communicating your work conditions with your client, you can set the foundation for a solid partnership.

5.) Plan for yourself

Freelancers typically do not have any employee benefits, such as health insurance, leaving them without protection during emergencies. That’s why it’s good to get your own health or life insurance plan to prepare you for the unknown.

Just like Thea, the challenges of being a freelancer shouldn’t hinder you from bravely pursuing your dreams and goals. All it takes is belief in yourself, the support of your people, and a solid plan to help you build your better tomorrow.

#FYP (For Your PURPLE) is now available to watch at https://plantoday.ewageas.com.ph/fyp and on all EastWest Ageas Insurance social media platforms.