The Covid-19 pandemic has had a profound impact on the way we view our lives and this has been highlighted in a recent survey from leading protection specialist, Royal London. The survey, undertaken by iReach, revealed that 81% of people in Ireland have changed the way they approach looking after their own wellbeing, and 89% say they now place greater importance on freedom than they have in the past.
The findings also showed that the young people of Ireland were most likely to say the pandemic has changed the way they view the ‘big things’ in life – family, friends, career, health and wellbeing, work life balance and freedom. This was also the case for women, who were more likely than men to change how they value almost all of these important elements of life.
These were the primary findings of the survey which asked 1,000 adults throughout Ireland if the Covid-19 pandemic has led them to change their approach to looking after their wellbeing, and whether it has caused them to reassess the significance of specific areas of life.
Wellbeing
Royal London survey participants were asked: Has the pandemic changed your approach to how you look after your own wellbeing?
Sara Murphy, Marketing Lead at Royal London commented on the findings,
“A global crisis of this nature and scale has caused uncertainty and anxiety for people all over the world. Many have experienced loss, health fears, social isolation, disrupted work and family routines, and economic instability as a result of the pandemic. Going through such things can understandably alter a person’s perspective, leading to a greater focus on what’s important and potentially causing a change in outlook.
“Our survey found that 81% of people in Ireland have changed their approach to how they take care of their wellbeing, at least a little bit, due to the pandemic. Those in the 18–24-year-old age bracket were most likely to have experienced this change: 63% of respondents in this age group said their approach towards their own wellbeing had changed “a lot”, compared to just 20% of 35–44-year-olds.”
The ‘Big Things’ in Life
The Royal London survey also asked respondents: Has the pandemic changed the way you view the ‘big things’ in life – do you now value any of the following with greater importanc
Overall, slightly more women than men said they view the ‘big things’ in life as more important because of the pandemic. The exception to this is that 41% of male respondents said they value their career more now, compared to 38% of women.
Ms Murphy commented on the findings,
“There’s no doubt the impact of the restrictions imposed to limit the spread of Covid-19 has made us value our social connections. So, unsurprisingly, the vast majority of survey respondents consider freedom, health and wellbeing, family and friends to be more important than ever.”
The Age Factor
The survey reveals how people’s priorities and what they consider important change according to what stage of life they are at.
Ms Murphy continued,
“The two youngest age brackets (18-24 and 25-34-year-olds) are the two age groups most likely to indicate their working priorities have changed since the pandemic. For example, 86% of 18-24-year-olds and 77% of 25-34-year-olds value work life balance with more importance now, compared to 57% of people aged 55 and over. That being said, the vast majority of all age groups consider family, friends, health and wellbeing, and freedom to be more significant now.”
Ms Murphy concluded,
“The results of the survey show that many of us now place increased value on what’s important in our lives. For anyone wanting advice on financial protection in any of these areas, I’d recommend contacting a Financial Broker. They can provide expert guidance, specifically tailored to your individual circumstances.”
Appendix
Q. Has the pandemic changed the way you view the ‘big things’ in life – do you now value any of the following with greater importance?
About Royal London:
Royal London has a history of protecting our policyholders and their families for over 190 years in Ireland, and we’re committed to continue to do so for a long time to come. Today we are owned by The Royal London Mutual Insurance Society Limited – the largest financial life, pensions and investments mutual in the UK, with 4,412 people, providing around 8.8 million policies and more than €165 billion in Group funds under management. (Figures as at 31 December 2020).
Royal London’s Irish office is based at 47-49 St Stephen’s Green, Dublin 2
