AIA PHILIPPINES Life and General Insurance Co., Inc. is looking to integrate mental health benefits into its products as its recent study showed strong demand for related services.

“First and foremost, we’re trying to raise awareness about the needs people have relating to their mental health and sustainable mental health. We’re raising awareness, breaking down taboos, breaking down stigmas, but also looking at how our AIA Vitality program can support mental wellness through daily check-ins on mood, through accessing other available third parties to coach and counsel where possible, but also to incorporate in our products benefits that enable access to mental health professionals that perhaps we had never done before,” AIA Group Chief Marketing Officer Stuart A. Spencer told reporters on Tuesday.

“Beyond raising awareness, adjusting our propositions, incorporating dimensions to our wellness programs, we’re all designed to make mental wellness as prominent and as crucial an element of overall health as physical wellness,” Mr. Spencer added.

AIA Philippines recently conducted a survey on 1,005 Filipinos aged 18 to 59 years old, which showed an increase in mental health awareness in the country.

The study showed that Filipinos are now moving towards a more holistic view of well-being, as more than half of the respondents or 52% said they define having a “healthy life” as having a healthy body, a healthy mind (30%), healthy financial habits (12%), and a healthy environment (7%).

“So, it’s (mental health) something that recently we have been looking to make more and more available, given the increasing concerns and awareness. People are now more open to seeking care and seeking support, and that’s something, as an insurance provider, we are aware of and need to respond to,” AIA Philippines Chief Marketing Officer Melissa Henson said.

The study showed that financial health is also linked to physical and mental health, as more than half or 59% of respondents said money worries are their top cause of stress, with 47% adding that their top obstacle in seeking healthcare is high costs.

It said that 65% of Filipinos rely on their personal savings as their fund source for unexpected events, followed by government assistance at 46%, insurance at 43%, loans from family and friends at 32%, and side business or freelance work at 28%.

Two out of five respondents or 42% said they felt their savings and insurance are not enough, with 66% of those who already own insurance planning to buy another policy.

“Filipinos worry about money the most… Becoming more financially healthy is key, as it helps resolve the physical and mental toll that come with financial worries, giving us peace of mind and enriching our overall well-being,” AIA Philippines said.

Majority or 80% of the respondents also said they are now more aware of the need to take care of their health as they have a family history of illness they want to avoid, with 16% of these being mental health issues.

The other most common family-inherited illnesses cited by respondents were diabetes (32%), heart-related diseases (30%), weight-related concerns (21%), and severe allergies or allergic rhinitis (18%).

“We want to break the cycle of family health history, so it motivates us to be healthy. We can reduce risks that come with our family history of illness by taking more proactive steps toward better health,” AIA Philippines said.

“We can redesign our path to wellness by incorporating diverse and interconnected habits that can help us achieve a healthy mind and body, while building financial resilience, and adopting sustainable practices.”

AIA Philippines booked a premium income of P12.07 billion in 2024, data from the Insurance Commission showed, with its life unit posting a net income of P3.53 billion. — A.M.C. Sy