A survey conducted by one of the country’s leading insurance firms showed that “only 23 percent of Filipinos were able to finish college due to financial constraints.”
Jenny Santos, director of agencies of Philamlife for South Central Mindanao, on Wednesday revealed that the survey was conducted by their company in order to establish a reference point whether Filipinos have financial protection for their future. The survey was divided into three parts: education, health and retirement.
For education, Santos said that of the 1,000 Filipinos surveyed, only 230 were able to finish college.
One of the major factors for the failure of parents to send their children to higher education was lack of funds or savings.
For health, Santos said 96 percent are conscious of their health. Of the 96 percent, 16 percent can afford to pay for serious illnesses.
The survey also showed that 80 percent want to retire at 50 years old but don’t have the capacity to fund their retirement, prompting them to retire at 65.
Santos said Philamlife conducted the survey as part of their corporate social responsibility and in line with the company’s 70th year anniversary.
