- More than 60 percent of the people surveyed are putting away substantial sums of money for health and income related emergencies
- Generation Y respondents are the biggest emergency savers, with nearly three-quarters putting money aside
- Insurance provides an important financial safety net for emergencies. Close to 80 percent of respondents have health insurance while 46 percent have income replacement protection
HONG KONG SAR – Media OutReach – 13 September 2023 – People across Asia are taking proactive steps to prepare for the increasingly uncertain and volatile global environment, especially against health and income-related emergencies. According to a recent survey, Empowering Aspirations: Financial Preparedness in Asia, by Prudential plc (Prudential), more than half (60 percent) of the 5,000 respondents surveyed across Hong Kong, Indonesia, Malaysia, Singapore and Thailand stated their commitment to setting aside money specifically for health and income-related emergencies.
Empowering Aspirations explores how providing a safety net to people’s everyday lives is enabling individuals to live more fulfilling lives by gleaning insights into saving trends, insurance adoption, and aspirations for a more secure future.