Most healthcare plans would give coverage up to a maximum age of 60-65 only. Beyond this, any expense for our health check up and emergency care will be coming from our savings. That’s why we need to start saving money at an early age to prepare for our health maintenance when we come to an age where wear & tear, physical abuse and stress will take its toll on our body. We can also consider investing in an insurance coverage that will provide us with cash at a future date.
One specific product of Philam life addresses certain health issues that each one of us may or may not encounter in our life time. Philam Life's Health Invest gives us protection against critical illnesses, to mention a few, cancer, stroke, heart attack, total and permanent disability, etc. To date Philam Life covers more critical illnesses compared to other companies. The inclusion of total and permanent disability under the critical illness list made this product superior.
The ideal health plan would look like this. You own a health plan from a reputable HMO with at least a maximum benefit limit of 100,000. This will be your first layer of protection. Invest in Philam Life Health invest to protect you from critical illnesses. Critical illnesses are those that will really drain you of your life saving. HMO plan may cost you annually anywhere from 15,000 to 45,000 pesos depending on your age and choice of plan. Health Invest minimum premium would be in the range of 30,000 to 50,000 per year for up to a maximum of 10 years. What is nice about health invest, your premium payment makes up your account value which you may withdraw from anytime as long as there is enough value in it. If you do invest in it, the policy comes with a life insurance benefit.
In closing, keep up with your exercise regimen and your diet. No health plan can keep us away from diseases. Only discipline in having a healthy lifestyle will prevent us from acquiring so called lifestyle diseases.
Please send in your questions, we here at One Source Solution will be more than glad to answer them.
Licensed in Non-Life, Life, Variable Universal Life insurance and Real Estate practice.