Many middle-aged people are making early preparations to maintain financial independence in later life. — Photos courtesy of Manulife

HCM CITY — Vietnamse people aged 35-44 are increasingly focused on achieving financial independence as they balance the cost of raising children with the financial and care needs of ageing parents, according to a survey by insurer Manulife.

The Asia Care 2026 survey, which polled 1,000 adults in Việt Nam, found that 72 per cent of respondents aged 35-44 provide financial support to their families.

Among those supporting their families, 74 per cent said financial pressures were limiting their ability to achieve long-term financial independence, while 70 per cent were concerned about their ability to afford elderly care, the survey found.

The age group is often described as the sandwich generation, as people face simultaneous financial responsibilities for their children and parents.

Financial independence is also increasingly viewed as a form of legacy. Some 89 per cent of respondents said financial independence and autonomy were meaningful legacies to leave to their families, while 57 per cent hoped to avoid becoming a financial burden on their loved ones in later life.

Personal savings were the most common way respondents planned to finance their retirement, cited by 81 per cent, followed by insurance at 48 per cent and investments at 43 per cent. Only 21 per cent expected to rely on financial support from their children, according to the survey.

Against this backdrop, financial products combining protection and investment are gaining interest as consumers seek to address immediate protection needs while building long-term assets.

Manulife's Xanh Phú Quý (Evergreen Prosperity) unit-linked insurance product is one such solution, combining financial protection with long-term investment and wealth accumulation. The product has a planned premium payment period starting from five years, and may provide a loyalty bonus if specified conditions are met.

The Xanh Phú Quý insurance product is attracting interest among members of the sandwich generation seeking financial protection and long-term wealth accumulation for retirement.

After 10 years, customers can access part of their account value when needed while retaining policy benefits. The account value may continue to grow depending on the performance of the selected unit-linked funds, while the policy provides long-term protection and the potential to pass assets on to the next generation.

For people in the sandwich generation, the findings highlight a shift towards planning not only to accumulate wealth, but also to maintain financial independence and reduce the potential burden on their families later in life.

As financial independence is increasingly seen as a legacy for future generations, financial solutions combining protection with long-term wealth accumulation are gaining appeal among consumers.

More information on the Manulife Asia Care 2026 survey is available at www.manulife.com.vn. — VNS