The results of surveys and research conducted by Manulife show that the optimism of the Indonesian people is getting higher about the changing status of the pandemic to the end of Covid-19 after two years.
The research conducted by Manulife also shows that people are now more focused on financial and health plans after a period of stagnation in their economic life.
Among Indonesians who are part of Manulife’s third Asia Care Survey, around two-thirds or 66% of respondents in Indonesia believe that Covid-19 will end within the next year.
Furthermore, more than half of 59% of respondents think that the restrictions on community activities will be completed within the same period.
However, 35% of respondents in Indonesia expressed concern about the local economy taking longer to recover.
Furthermore, 58% of them experienced a decline in income, with one in ten people, or 13% of them losing their jobs during the pandemic.
“Apart from the survey results which show high attention to finance and health, Indonesians are also increasingly in control of their financial planning and are finding ways to reduce the impact of the pandemic,” said Manulife Indonesia President Director and CEO Ryan Charland in an official statement, Friday ( 11/3/2022).
“And, although many families experience challenges and face uncertainties in terms of finances, health, and the future, a higher interest in protection through insurance can be said as one of their ways to adjust to the new situation amid Covid-19,” he explained.
The survey also revealed that the public’s focus on financial design is to balance current financial challenges with plans.
57% of respondents said they are actively managing their finances due to the pandemic, significantly higher than respondents who took this survey in all other Asian countries (42%).
“Interestingly, 32% of respondents said that they had set up a privately owned business to replace or support their main job. 37% of respondents in Indonesia also said that they had savings that would last more than one year if needed,” he said.
Furthermore, to reduce financial risks due to Covid-19, around 25% of respondents invest, while 36% reduce unnecessary expenses.
At the same time, the importance of insurance and retirement planning is becoming more widely recognized. There are 83% of respondents see the importance of insurance and 84% think the same about retirement planning. The survey results also show that 76% of them plan to buy insurance in the next 12 months.
The survey also shows that the level of public health awareness in Indonesia is also high. Indonesian respondents were noted to have a willingness to adjust their lifestyle to reduce the impact of Covid-19.
The willingness of Indonesian respondents to wear masks is the highest (82%) in the region, as is the level of physical activity (69%). More than half (52%) have increased their intensity of exercise since the pandemic began, with jogging (72%) and cycling (54%) the most preferred forms of exercise for Indonesian respondents.
Furthermore, Manulife Indonesia understands the impact of financial anxiety due to COVID-19 and increasing customer awareness of the health and wellness aspects. Therefore, as a form of commitment to customers, Manulife has provided various protection solutions designed to meet the needs of the Indonesian people.
Among the solutions offered is additional insurance which was recently launched through MiSmart Insurance Solution (MiSSION). The first additional insurance, namely MiSmart Medicare Plus (MiSMP), provides hospitalization benefits until the insured is 80 years old. Furthermore, additional life protection insurance is MiSmart Payor Benefit Plus (MiSPBP).