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Many Filipinos remain ‘hopeful’ amid pandemic

By CHINO S. LEYCO

Many Filipinos remain hopeful amid pandemic despite the negative impact of the coronavirus-induced economic crisis on their financial situation, the latest survey by Sun Life of Canada (Philippines), Inc. revealed.

Based on Sun Life’s online survey from May 11 to 29 on how the COVID-19 pandemic affected its clients, 68 percent of the respondents answered that they remain hopeful about the future, but also expressed concern about the current situation.

The survey results showed that Sun Life clients’ top concerns were the physical health of their family (71 percent), followed by the health of the economy (71 percent), and their children’s education (69 percent).

Sixty-one percent of the respondents also said that they are concerned about providing support for an elderly member of the family, and 63 percent were concerned about their ability to save for the future.

Asked about what negative impact the pandemic has had on their lives, the respondents shared that it affected their financial situation (48 percent), ability to socialize with friends (44 percent), and getting enough physical ability (31 percent).

In a separate survey, Sun Life’s also asked respondents about their finance plans.

The survey showed that 62 percent of the respondents have put in place recovery plans, 68 percent were saying that they will start saving more and building their emergency fund, while 57 percent are looking for more financial advice.
About 53 percent, meanwhile, said they are now investing in family’s health.

Rooting on these survey results, Mylene Lopa, Sun Life chief marketing and client officer, said they launched a new campaign dubbed “Rise Together to a Bright New World,” which aims to help Sun Life respond appropriately to clients needs.

“We would like to help Filipinos channel their energies towards actions that would help them prepare for the future,” Lopa said.

“While there is still much uncertainty as our country continues to deal with the pandemic, there are steps that they can take now to make sure they and their loved ones can look forward to brighter days,” she said.

Through the new campaign, she said “we want to show Filipinos how they can emerge from this pandemic stronger, healthier, and financially resilient, so they may look forward to a brighter tomorrow.”

“Rise Together to a Bright New World” features initiatives ranging from online financial literacy sessions to digital tools, all of which aim to empower Filipinos to get back on track in their financial goals, as well as their health and wellness aspirations.


Source: Manila Bulletin (https://business.mb.com.ph/2020/06/25/many-filipinos-remain-hopeful-amid-pandemic/)

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