This world has so much wonderful things to offer. There are countless of beautiful moments that we can create with our family and loved ones. The possibilities are endless and for every milestone our presence is truly important. However, there are circumstances in life that may sometimes take away the opportunities from us, illness is one of those. The question now is how can we prevent such things and how prepared are we for health emergencies with the right plan and financial partner?
AIA, the leading pan-Asian insurance group and Philam Life’s parent company, conducted a study and found out that “being healthy” is one of the top goals in life among middle class Filipinos and their family. More so, “unexpected emergencies” and “healthcare costs” are the top concerns among the respondents. Health setbacks, especially life-threatening critical illnesses, after all, can cost much and derail the family’s finances, while taking away precious moments that the family could have spent together.
According to Dr. Emily Tan-Aventura, a critical care specialist affiliated with The Medical City, “critical illnesses including heart disease, stroke, and cancer can strike any individual from all walks of life, regardless of age or lifestyle.”
Treatment of which can cost much: for heart disease, which can potentially inflict nine out of 10 Filipinos, the cost can go as high as P1 million. Treatment of other critical illnesses like cancer, from which 11 Filipinos are being diagnosed every hour, can cost at least P700, 000.
For stroke, which claims 168 lives daily, treatment cost can be as much as P14, 400 per day including doctor’s check-up, physical and speech therapies and maintenance medicines. Kidney dialysis and transplant can cost around P60,000 per month and about P1.2 million, respectively, with over 7,000 cases of kidney failure are recorded in the Philippines every hour.
To address these health concerns, Dr. Aventura noted that, “key to the successful recovery from such life-threatening diseases is early detection as it improves chances of recovery. With today’s technology, critical illnesses can be prevented from progressing if treated in the early stages.”
To help Filipinos become financially prepared for health setbacks, Philam Life recently launched Health Invest Plus—its flagship health product and the latest addition to its health portfolio. It is a health and life insurance plan that takes care of one’s health now and in the future. It provides financial protection even from the early stages of a critical illness like heart attack, cancer, and stroke— which are the top causes of death in the country.
In a press conference held recently, Philam Life Chief Marketing Officer Jaime Jose Javier Jr. shared that Health Invest Plus provides financial protection for both early stage and major critical illnesses including cancer, heart attack and stroke— which are the top causes of death in the country. He also noted that Health Invest Plus’ key benefit is that it provides cash payments even for early stage critical illnesses to help clients financially on their way to recovery. Most critical illness plans do not cover early stage conditions.
Health Invest Plus provides lump-sum benefits when diagnosed with any of the 56 covered major critical illnesses—the most among unit-linked plans in the market. (Unit-Linked Products are life insurance and investment plan-in-one where the benefits are linked to the returns of a chosen investment fund.)
Future premium payments will also be waived. If one is diagnosed with a covered early stage critical condition, 25 percent of the Critical Illness coverage will be given in advance. Health Invest Plus’ critical illness coverage is until age 75— when one is already in his retirement years and has a greater need for health coverage. Most critical illness plans do not cover until this age.
Since Health Invest Plus is a unit-linked plan, premium payments are invested, allowing one to grow a Health fund which can be used for health maintenance or other costs during one’s later years. The plan also provides cash benefits for accidental injuries or disabilities and loss of life, providing comprehensive coverage for policyholders now and in the future.
“With Philam Life’s Health Invest Plus, customers can have peace of mind knowing they are financially prepared against health setbacks now and as they grow older, so they can be there for their family,” said Javier. He also encouraged Filipinos “to assess their current health coverage as majority of us are not prepared for the costs that come with the diagnosis of a critical illness, as well as other health concerns.”
In getting a health and life insurance plan, it is also important to deal with a trustworthy financial company which has proven its stability, trustworthiness and strength over the years, and with a track record of keeping its promises. This will give the assurance that benefits will be delivered when the time comes.
For more information: Visit www.philamlife.com
Karina is not your ordinary supermom. She juggles her time bonding with her three amazing kids while being in the loop on the latest happenings in the tech and lifestyle scene. Follow me on Instagram (@digitalfilipina) regularly visit www.digitalfilipina.com for daily dose of updates not just for moms but for everyone!