Four out of five Filipinos feel anxious about their ability to pay for care as they grow older—a stress level significantly higher than that of their Asian peers, driven largely by the heavy expectation of caring for their families.
According to the Asia Care Survey 2026 released in July, Manulife Philippines reported that 82 percent of local respondents are “worried about their ability to pay for future care needs in their older years”.
By comparison, the regional average in Asia stands at 66 percent.
Filipinos estimate that future care support will cost around ₱34,500 per month, with Gen Z respondents expecting the highest monthly requirement at roughly ₱43,400.
This fiscal anxiety stems from a broader cultural shift, as Filipinos actively “reframe what it means to leave a legacy.” Rather than focusing solely on traditional inheritance, 88 percent of Filipinos—and 95 percent among those aged 25 to 34—now consider their own financial independence as the primary gift they wish to leave their families.
However, that aspiration for self-reliance faces “compounding pressure” from existing family duties.
According to the report, 74 percent of respondents say these responsibilities “hinder self-reliance, while 71 percent report delaying medical care” due to the dual weight of looking after both children and aging parents.
This urgency to prepare is underscored by how long that support is expected to last. Filipinos anticipate needing care for up to two decades in their later years—an extended period of dependency that requires far earlier and more rigorous health and financial planning than previously assumed.
To adapt, many are recalibrating their financial strategies to fund their retirement. While 87 percent rely on personal savings, the survey noted that half of respondents “plan to shift toward income-generating investments” to ensure predictable, long-term independence.
“For many Filipinos, legacy has always been deeply connected to family. What we are seeing is that people increasingly view legacy not only as what they leave behind, but also as the choices they make to stay healthy, independent, and able to enjoy life for longer,” said Rahul Hora, President and Chief Executive Officer of Manulife Philippines.
“This is especially important as Filipinos face more complex health, care, and financial needs as they age,” Hora added.
He emphasized that Manulife remains committed to helping Filipinos navigate the future by offering financial advice, insurance protection, and health and wealth solutions designed to bolster security in old age.