Choosing the Right Healthcare

Choosing the Right Healthcare

Taken from: The Secret to Saving and Building your Future Book chapter 2 page 33. 

     In the Philippines, a lot of sick people die not because there is no medicine or treatment available but because they don't have money to pay for these costs.

     A study commissioned by the World Health Organization (WHO) showed that most health expenses are shouldered by private households - as much as 48% of total health expenditures. These households often had to use out-of-pocket payments for their health expenses. 

Short-Term Healthcare

     This is also known as the traditional HMO. Generally, it has no life insurance coverage. There may be a yearly increase of premium upon renewal. However, renewal is not guaranteed, especially when there are high claims. HMOs cover only up to age 60. There is no return of premiums for non-utilization.
For quotation and inquiries click here: https://goo.gl/forms/wyeRkdU5FpLHTyH92

Senior Care

    

     This type of healthcare works similarly to the short-term coverage except that it covers ages beyond 60. It's an individual type of HMO and it's the most expensive program. Renewal is also not guaranteed.

For quotation and inquiries for Senior care click here: https://goo.gl/forms/RZYa6t8iWMyAzhU92

Long-Term Healthcare

     This is an HMO with a Health Savings Account. It has a fixed premium program, usually 7 years, which matures in 20 years. It comes with a 4-way insurance coverage together with the long-term healthcare plan. Renewal is guaranteed and all unused health fund accumulates with interest. It may cover beyond age 60 with long-term care growth.

Sample Benefits of Having Long-Term Healthcare

* Long-Term Care Benefits  

          A guaranteed benefit which you can use after 20 years, whatever sickness you have or you can also use it at age 70 onwards

* Yearly Health Benefits

           A 10% yearly accumulated based on the long-term care benefit starting at the end of the 7th year up to the 20th year.

* Long-Term Care Bonus

          If no claim was made during the accumulation period, 85% of premiums paid will be given back at the end of the 20th year, making it COST FREE.

* Lifetime Network Access

           Lifetime access to over 1,000 doctors over 500 hospitals as long as you have funds available in your health benefits

* Cost-Free Health Benefits

           With Return of Premiums for Non-Utilization

* Accumulation of unused yearly health benefits and bonus.

          All unused yearly health benefits  and yearly health bonus accumulate with interest.

* Term Life Insurance Coverage

           If the policy owner dies during the paying and accumulation period, the beneficiary will receive and amount equal to the sum of Long-Term care benefit and Long-Term Care Bonus.

* Accidental Death & Dismemberment

          If the policy owner dies due to an accident or suffers from dismemberment of both hands, both feet, or loss of sight in both eyes (or any combination thereof) and is below the age of 70 during the paying and acculation period he or she will receive an additional of 100% of the Long-Ter Care Benefit plus long-ter care bonus.

* Waiver of Installent Due to Death/Credit Life

          If the policy owner dies during the accumulation period the balance of premiums is waived rendering the plan fully paid.

* Waiver of Installment and Premiums Due to Total and Permanent Disability.
          If the policy owner becomes totally and permanently disabled for a period of at least six months (not exceeding the maximum age of 70 years old during the accumulation period), all the succeeding payments will be waived.

For long term healthcare more explanation please click here: https://bit.ly/2LhTGzU