Metlife retirement solution seen solving aging concerns in Asia
CHINA has become the first market in Asia to launch Metlife’s new retirement solution, 360Future. With one of the world’s fastest aging populations and with significant unmet demand for elderly care services, the Chinese are increasingly worried about life after retirement.
“Beyond the obvious concern of saving enough money to retire, people are worried about their health and finding meaningful ways to spend their time in retirement,” said Metlife China CEO Siyi Sun.
China is not alone in this situation. With Asia’s elderly population projected to reach nearly 923 million over the next few decades, this will make Asia one of the oldest regions in the world.
Metlife created 360Future to help people in Asia prepare for retirement earlier and better support them as they age. The comprehensive solution combines retirement savings and insurance protection with health and wealth services to support customers and their elderly family members in retirement.
“The launch of 360Future is another key milestone in our transformation journey from traditional products to holistic customer solutions. It aims to provide all-round retirement support to help our customers prepare early, protect their family and enjoy a prosperous life post-retirement,” added Sun.
“As they plan for their own retirement, many people are also helping their parents navigate healthcare and lifestyle challenges as they grow older. We’ ve designed a sharable solution that not only helps them prepare financially for their own future, but also includes benefits they can access before retirement, like medical appointment companions, homecare support and counseling to support their elderly family members,” said Sanjeev Kapur, Chief Marketing Officer of Metlife Asia.
The solution follows Metlife’s successful roll out of 360Health in Asia, which like 360Future, is a holistic solution that combines insurance protection with comprehensive health services delivered through a simple, digital experience.
“Metlife has created a concept that can be replicated in other markets to better support our customers in Asia to be better prepared and transition into retirement with greater confidence,” he added.