Sun Life Survey Reveals Hidden Financial and Mental Health Impacts of Type 2 Diabetes

• One third (33%) of those living with diabetes report a ‘severe’ or ‘significant’ financial impact on their lives, with 82% unable to consistently afford the right care.
• 67% of non-diabetics are either ‘very concerned’ or ‘concerned’ about the financial burden that would result from a type 2 diabetes diagnosis.
• 65% of diabetics report a negative impact on their mental health.
• Yet 37% of respondents have never had blood sugar screening.

HONG KONG, Nov. 14, 2024 /PRNewswire/ — New research by Sun Life Asia reveals the hidden cost of living with type 2 diabetes and the condition’s financial and mental health impacts, highlighting an urgent need for education, prevention, and access to care.

Sun Life’s survey, titled Healthy Habits, Healthier Futures: Preventing Diabetes in Asia, interviewed 3,647 people across Hong Kong SAR, Indonesia, Malaysia, the Philippines, Singapore, and Vietnam, about their awareness of diabetes risk factors, treatment and prevention. The survey included 600 people currently living with type 2 diabetes, providing an insight into life with the condition.

This follows an epidemic rise in diabetes cases in recent decades, with more than 540 million people living with the condition worldwide¹. More than 90 million of those are in Southeast Asia where the number of adults with diabetes is projected to soar to 152 million by 2045, presenting a serious public health challenge². Type 2 diabetes is the most common type of diabetes, accounting for around 90% of global cases.³

The research reveals that despite soaring case numbers, few people are actively taking steps to lower their risk of developing diabetes or learn more about the condition and for those with diabetes, the impacts are not just physical.

Hidden financial and mental health impacts of type 2 diabetes

In addition to the physical cost of diabetes, the condition has a significant financial cost, preventing many people from accessing the right healthcare. One third (33%) of those living with diabetes report a ‘severe’ or ‘significant’ financial impact on their lives, with 82% unable to consistently afford the right care. 

Financial concerns about diabetes are even more prevalent than health-related concerns. 67% of non-diabetics are either ‘very concerned’ or ‘concerned’ about the financial burden that would result from a type 2 diabetes diagnosis, highlighting the need for the protection of health insurance.

The research also uncovered the hidden mental health impact of the disease, with 65% of diabetics reporting a negative impact on their mental health post-diagnosis. This is compounded by social impacts experienced at home and at work; 76% of people with diabetes report feeling judged by family and friends after being diagnosed and 72% of diabetics have faced judgment or bias at work related to their condition.

David Broom, Chief Client and Distribution Officer at Sun Life Asia said: “The physical, mental and financial burden of diabetes can be overwhelming. The staggering number of diabetics who are unable to afford consistent care points to an urgent need for affordable access to treatment. As an insurer, we are committed to providing access to quality medical care so that people can prioritize their health without worrying about their finances.”

Few people practice preventative measures

Diabetes risk continues to grow across Asia, but only 42% of respondents attend annual screenings for type 2 diabetes and 37% have never been screened, resulting in unexpected diagnoses and preventable cases.

Only a small minority consistently practice prevention measures such as maintaining a healthy diet, monitoring weight and blood sugar, and exercising regularly. One in five people do not ensure their children eat a healthy diet, and 30% don’t encourage their children to exercise. 

Many people struggle to understand nutritional information. 30% find it difficult to identify hidden sugars and fats in their diet, while 24% struggle to understand the impacts of different foods on their blood sugar levels.

Regular exercise, healthy eating and early screening has the power to reduce diabetes risks but depends on improving awareness. Since 2012, Sun Life has committed over 55 million CAD to fight against diabetes globally through strategic partnerships supporting the most vulnerable communities.

Through local partnerships with hospitals, medical institutes and foundations across the region, Sun Life is providing access to blood glucose screenings, nutrition advice and counselling, exercise programs, diabetes care packages and local education programs for children, which can empower people to monitor their diabetes risks.

Physical inactivity is increasing diabetes risks

A decline in physical activity, compounded by a lack of safe exercise spaces, is increasing diabetes risks across Asia.  Nearly one-third (31%) of respondents report decreased exercise over the past five years, with younger people more likely to report a decrease. Among those reporting insufficient exercise, 46% cited a lack of access to safe, quality exercise spaces in their local areas.

Having accessible exercise spaces is vital to keep people active, healthy and engaged. Since 2023, Sun Life has partnered with social change foundation Beyond Sport to launch Hoops + Health, a community program that inspires activity and healthy living through basketball by improving community access to courts and coaches across Asia. To date, Hoops + Health has helped more than 14,000 people in underprivileged communities to get active and enjoy sport.

Common myths prevail, underscoring the need for diabetes education

Diabetes is one of the most serious public health issues facing Asia, yet common myths about the condition prevail, mainly related to risk factors.

Nearly one in three people (29%) believe that type 2 diabetes only affects overweight individuals, 57% believe it is solely caused by excessive sugar consumption, and 50% think diabetes treatment always requires insulin injections.

The survey also found diabetics had a lack of risk awareness before their diagnosis. A total of 29% report they had a poor or very poor understanding of the condition prior to their diagnosis. More than one-third of diabetics (37%) believed they were low risk or did not consider their risks at all before their diagnosis, while just 4% of diabetics believed they were high risk.

The findings show that misunderstandings about the risks and causes of diabetes can hinder prevention, early diagnosis, and treatment, making education on the topic essential.

Steven Ho, AVP, Medical Director, said: “Our research shows that it’s critical to address the notable knowledge gaps around diabetes – its risk factors, and the importance of early diagnosis and prevention. By promoting awareness and dispelling common myths, we can empower individuals to make informed health choices. Implementing preventative measures such as adopting healthier diets, engaging in regular exercise, and monitoring blood sugar levels, can significantly improve health outcomes and even lead to remission.”

Lack of understanding about type 2 diabetes treatment

Although there is no cure, medical professionals say many people can reverse diabetes within a year of diagnosis through positive lifestyle changes such as healthier food choices and more exercise. Adopting these lifestyle changes can maintain normal glucose levels without the need for insulin. However, there is limited awareness about the potential to reverse diabetes. Only half of the general public believe type 2 diabetes can be managed without medication.

Few diabetes sufferers are actively trying to reverse their condition. While 92% of diabetics believe remission is possible, most do not believe it is achievable within one year despite many medical professionals advising this is possible.

Empowering people to effectively manage their condition requires access to healthcare and medical advice, education on the latest management strategies, behavioural support for lifestyle changes, and accessible and affordable food and exercise options. 

Notes to Editors

The findings in this survey were analysed and established through a total of 3,647 interviews conducted online in October 2024 across Hong Kong SAR, Indonesia, Malaysia, the Philippines, Singapore, and Vietnam, including over 100 type 2 diabetics in each market.

The executive summary is available here.

About Sun Life

Sun Life is a leading international financial services organization providing asset management, wealth, insurance and health solutions to individual and institutional clients. Sun Life has operations in a number of markets worldwide, including Canada, the United States, the United Kingdom, Ireland, Hong Kong, the Philippines, Japan, Indonesia, India, China, Australia, Singapore, Vietnam, Malaysia and Bermuda. 

As of September 30, 2024, Sun Life had total assets under management of $1.5 trillion. For more information, please visit www.sunlife.com.

Sun Life Financial Inc. trades on the Toronto (TSX), New York (NYSE) and Philippine (PSE) stock exchanges under the ticker symbol SLF.

Note to editors: All figures in Canadian dollars.

Media Relations Contact:
Iris Ng
Account Director, Sandpiper
T: +85298383501
Iris.ng@sandpipercomms.com

Becky Marshall
Director, Communications, Sun Life Asia
T: +8526170312
Becky.marshall@sunlife.com 

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