According to a survey done by AIA Singapore on the state of Singaporeans’ health at the one-year mark since COVID-19 was declared a pandemic, it revealed that 9 out of 10 Singaporeans are still struggling with their mental health, and that men and younger adults remain the most worried. The AIA Health Matters Survey 2021 revealed that fears over income loss and job instability caused 91% of the respondents to report declines in their mental health. Around 60% of respondents are also deeply concerned about the added burden of other critical illness diagnosis such as cancer.
The study polled over 300 Singaporeans aged 30 to 55 across a spectrum of working adults that is representative of the resident population, and shed some light on how different segments of the working population are coping with mental health challenges and critical illness worries:
- Majority of male respondents who are breadwinners stated that they are more likely to report when they are facing mental health and critical illness conditions compared to women
- Millennials (aged 30-39) reported higher stress coping with daily stressors at work as compared to pre-retirees (aged 40 and above)
- Millennials (81%) are especially worried about cancer compared to older adults
While our nation is healing for a post-pandemic recovery, mentally, we are still trying to navigate our way out of COVID-19 uncertainties. It is not enough to only take care of our physical health. This conviction drives our holistic approach to protect the many aspects of our customers’ wellbeing – such as financial, physical and mental health – to enable everyone to truly lead a healthier, longer, better lives.”
– Ms Wong Sze Keed, CEO of AIA Singapore
These insights revealed another issue: mental health stigma still exists in society, which may stand in the way of ensuring adequate protection. While insurance plans with mental health coverage are available in the market, only 18% reported that their critical illness plans or riders include mental health coverage. Interestingly, amongst the different demographic groups surveyed, men and millennials are more willing to take up more extensive insurance plans such as those that include mental health coverage.
The past year saw an increase in diagnosis concerns for critical illnesses (+10% compared to 2016), with cancer being the most pressing concern (73% are worried). Regarding mental health conditions, Anxiety and Major Depressive Disorders were revealed to be the most prevalent.
To learn more about AIA Singapore’s latest limited-time offerings for holistic protection on critical illness and mental health, please visit https://www.aia.com.sg/en/campaigns-promotions/acriticallygoodpromo.html and https://www.aia.com.sg/en/our-products/critical-illness-protection/aia-beyond-critical-care.html.