HNWIs prioritise health over wealth in new Manulife study

But only 44% feel very or extremely confident that they will remain healthy.

Despite prioritising health, high-net-worth individuals (HNWIs) in Singapore remain uncertain about their long-term wellbeing and insurance protection, according to a new study by Manulife Singapore and Forbes Insights.

The survey, conducted in March and April 2025 amongst 250 HNWIs across Singapore, Hong Kong, and mainland China, found that 94% of Singaporean respondents believe health is more important than wealth. 

However, only 44% feel very or extremely confident that they will remain healthy and active after retirement.

Insurance-related concerns are evident. Less than half (47%) of respondents are very or extremely confident that their current financial plans adequately cover future disability or incapacity. 

About 44% expressed only moderate or low confidence that they are financially prepared for long-term care and medical expenses.

Manulife Singapore's Chief Marketing Officer Mark Czajkowski said the findings challenge the assumption that wealth guarantees peace of mind in later life. 

“For our customers, wealth is no longer the goal in itself – it’s the means to protect the lifestyle, health, and choices they’ve worked so hard to build,” Czajkowski.

The study also identified barriers to longevity planning amongst HNWIs. 

Around 32% cited difficulty navigating insurance and healthcare systems, whilst 29% said they struggle to incorporate long-term care costs into estate and financial plans. 

Another 21% admitted they lack sufficient knowledge about maintaining good health.

Despite these obstacles, many HNWIs are taking active steps to improve their health and prepare for ageing. 

Nearly half (49%) already have premium health insurance plans, whilst 50% consult health or wellness professionals. 

In addition, 40% use health technologies such as wearables, and 41% engage in preventive care.