Half of Singaporeans feel distant from achieving holistic goals

Three in five young consumers neglect to update their financial knowledge.

AIA Singapore released findings from its AIA Live Better Study 2023, revealing that one in two Singapore consumers feel far from achieving holistic wellness, AIA Singapore revealed.

The insurance group conducted a study titled AIA Live Better 2023, which showed the five key aspects in which Singaporeans feel distant from becoming holistic: financial, physical, mental, spiritual, and socio-environmental. 

However, 83% believe holistic wellness is vital for healthier, longer lives.

About 63% worry about illnesses, particularly cancer, cardiovascular diseases, and diabetes, with even young adults aged 25 expressing concern.

The 35 to 55-year-old age group struggles with work-life balance, affecting physical wellness.

Notably, Mental health concerns are high, with nearly 20% of 35 to 44-year-olds experiencing depression, mainly linked to financial worries.

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On the other hand, young consumers aged 18 to 24 prioritise financial wellness, with many investing and acquiring insurance.

Despite ambitious financial goals, three in five young consumers neglect to update their financial knowledge, posing risks to their financial well-being.

The study shows Singaporeans lack proactiveness in achieving holistic well-being, particularly in non-financial aspects. 

AIA Singapore aims to address this with AIA Health360, a comprehensive suite of solutions encompassing financial planning tools, insurance solutions, healthcare services, and AIA Vitality wellness program.