29/07/2020
People often say that health is wealth. That even though you might not have much in life, you’re all set as long as your body’s in good shape. No one plans to get sick or hurt but the fact is that illness and injury are a part of life. Nobody can prevent getting sick but we can make plans to ensure that we’re financially secure in a place where we can afford to get better.
Like Suffering from critical illness has serious financial pains such as
• Not being able to work
• Expensive costs of care and treatment
• Expensive costs of recovering from critical illness and medicines
• Debts incurred for medical expenses
• Children education may discontinue when the parent or breadwinner got seriously ill
• Unpaid loans and mortgages
• Forced retirement due to critical illness
Did you know that among the Top 5 Leading Deadliest Sicknesses in the Philippines are:
• Heart Diseases – Makes about 17% of Death Annually in our country, making this the top cause of death.
• Hypertension – According to research by the WHO, more than 14 Million Filipinos suffer from Hypertension
• Stroke – is the second largest cause of death for Filipinos. According to recent WHO data, strokes in the Philippines account for 63,261 deaths, or 12.14% of deaths each year.
• Influenza and Pneumonia – World Health Rankings provides that Influenza and Pneumonia deaths in the Philippines account for nearly 10 % of deaths in the Philippines annually.
• Breast Cancer – Breast cancer is the leading cause of death among Filipino women, and unknown to many is the fact that the Philippines has the highest number of breast cancer incidents among 197 countries in the world. In addition, the Philippines saw a 589% increase in breast cancer over a 30-year period
Unfortunately, (84%) Eighty-four percent of Filipinos are not financially prepared for medical costs in case they are diagnosed with critical illnesses. (philstar)
Only about 4% of Filipinos are enrolled in HMOs.
For those that are enrolled, the average HMO coverage of Filipinos is only about Php90,000/year, which can only cover “Diagnostics” for a critical illness, nothing more is left for Treatment. Which is still not sufficient when critical illness strikes. To have health insurance is very important.
The benefits of having a Health Insurance for yourself and your family is important because healthcare is expensive; private healthcare even more so. Hospitalization costs can burn a hole in your family’s funds and derail your finances. All of this can be taken care of by paying a small premium every month as part of the policy. Health insurance can take care of all the risks and costs associated with medical stays. It can serve to protect from large medical bills due to illness or injury. It provides us financial peace of mind. And most importantly, we won't be a burden to our family.
