Team DailyPedia
Health is wealth. In the midst of many diseases that make people weak and some causing death, Philam Life made a good plan for everybody.
Philam Life is the AIA Group exists to provide our customers with financial protection, security, and a comfortable future. As a company, we understand that life is unpredictable. It has its highs as well as its challenges and everyone is on a different journey. That’s why our starting point has always been understanding people. By being genuinely engaged with people’s real lives, we gain deeper insights that enable us to offer a range of insurance and wealth management products that fit the needs of the individual.
Many Filipinos believe that putting their money in bank deposits is the best way to grow their money and keep it safe. But there are some good ways to invest their money. Philam Life Investment Plan is a new program they have that caters about health and life insurance as well.
During their media launch today, March 24, 2015 at Philam Life Tower, they emphasized how important to have a policy plan that will help every Filipinos less worry about their health and life being insured. At the amount suited for all the employed people, it will be a big help in the event of getting sick and accidents.
Dr. Emily Tan-Adventura said that the top three death causing diseases are heart diseases, stroke and cancer.
It’s a health and life insurance plan that provides financial protection from serious sickness, accidents or loss of life. It can work as a supplement to HMO plans and Philhealth benefit. In the event of any covered critical health condition or accident, a lump-sum cash benefit will be given to help pay for medical bills or other expenses. The plan also provides a health fund that grows over time depending on the performance of the chosen investment fund. Plus, it has life insurance coverage to help secure your family’s future.
In times of sickness like in heart problems, cancer and other death causing sickness, it is obvious that medication costs an arm and leg but through Philam Life Investment Plan, it will be easier to have medications because they will provide assistance in which all hospitalization and medication are covered. Out-of-pocket health spending is five times higher than PhilHealth spending, and eight times higher than what HMOs are paying out.
The country’s total health expenditures is now over P460 billion. Ironically, private health insurance account for only two percent while private out-of-pocket accounts for more than half of the total expenditure, Javier lamented.
Philam Life introduced Health Investment that gives plan holders: a comprehensive health and accident coverage; a health fund for future healthcare needs; security for family’s needs with life insurance coverage; and, convenient payment options. It is a unit-linked or investment and protection plan, where the benefits depend on the performance of PAMI Philam Investment Fund.
According Philam Life chief marketing officer Jaime Jose M. Javier Jr. said that the enhancements allows more Filipinos to have access to health protection.
For example, if a 30-year old client pays P55,950 every year for 10 years, he gets the following benefits: under the comprehensive health and accident coverage, one gets a critical illness coverage P500,000 until age 75; gets a waiver of premium, if diagnosed with a major critical illness before age 75; and an accident coverage worth P1 million, until age 75, he added.
Payment schemes range from three-, five-, seven- and 10 years. Total premiums amount to less than P600,000. More or less, by age 65, the client would have up to P5.28 million in total benefits for only P559,500 total premiums paid in 10 years.
You can’t stop growing old.
You can’t tell when you’ll get sick.
But you can prepare for it.-Philam Life
Health Invest is a health and life insurance plan that provides financial protection from serious sickness, accidents or loss of life. Plus, it lets you build a fund for your future health care needs.
