One in two Singaporeans urge action on mental health support
One in two Singaporeans urge action on mental health support | Insurance Business Asia
Life & Health
One in two Singaporeans urge action on mental health support
Study assesses various dimensions of wellbeing
Life & Health
By
Roxanne Libatique
A recent report from AIA Singapore has revealed that one in two Singaporeans believe more should be done to address mental health challenges.
The findings come from the AIA Live Better Study 2024, which showed that Singaporeans’ overall wellness remains unchanged from last year, with the nation scoring 61.5 on the Holistic Wellness Index.
Now in its second year, the study assesses various dimensions of wellbeing, including physical, mental, financial, social, and spiritual health.
The Holistic Wellness Index, designed by AIA Singapore, reflects the complex nature of happiness for Singapore consumers, encompassing multiple facets of life.
“In Singapore, the challenges of an imperfect state of wellness are reflected in the daily struggles faced by many, from managing stress to grappling with the rising cost-of-living,” she said.
“These pressures affect not just individual wellbeing but the broader happiness index of our nation.”
Since 2019, AIA Singapore has taken steps to address mental health issues, being the first insurer to cover mental health as part of its AIA Beyond Critical Care plan. The insurer has also introduced the Think Well digital mental health solution in partnership with WhiteCoat.
Stigma around mental health remains a barrier
According to the study, 59% of Singaporeans believe they need more resources to manage their mental health.
Affordability (66%), access (53%), and workplace programs (51%) were highlighted as areas that could improve mental health support.
Additionally, 58% of respondents perceive stigma surrounding mental health, with the highest concern among Gen Z respondents (73%).
The study also found that while 42% of those experiencing mental health issues cited high costs as a barrier to seeking help, many are open to teleconsultation services. Nearly half (47%) of respondents said they would consider using teleconsultation for mental health services, citing convenience and flexibility as the primary reasons.
Financial wellness a concern for many
The survey also highlighted ongoing financial challenges among Singaporeans.
Although 58% prioritised long-term financial readiness, nearly 70% reported difficulties in achieving their financial goals. Despite having set goals, only 55% actively engage in financial planning or seek professional financial advice, with many relying on basic tools like Excel.
AIA Singapore said it is working to bridge this gap through financial literacy initiatives, offering digital tools and professional guidance to help consumers improve their financial wellbeing.
Physical fitness steady, health screenings lag
On the physical wellness front, 60% of Singaporeans rated their fitness levels between 7 and 10 on a 10-point scale, similar to last year.
However, only 56% reported committing to regular health screenings, even though 82% acknowledged the importance of screenings for their age group.
Health experts in Singapore encourage regular check-ups as part of preventive healthcare to detect potential issues early.
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