Most people think that health insurances are the same. But in reality they are not. In this article we will explore that different types of health insurances in the market today.
The statistics on health risks are shocking
1 in 2 will develop cancer (43.9%)
1 in 6 will have stroke before age 55 (16.7%) and
1 in 2 will develop coronary heart disease (50%),
These statistics just shows how important it is to take care of our health especially that health related expenses are now on the rise. But, with the environment that we are living in and the food we take, it cannot be helped that some time in our life, we might be inflicted with diseases but hopefully not the critical ones.
Being sick can be a burden especially to the people who are taking care of you both physically and financially that is why it is important that we all have health insurances.
Dr. Marius Barnard, one of the members of the team who made the world’s first successful human heart transplant in 1967 once said “as a medical doctor, I can repair a man physically, but only insurers can repair patient's finances. Medically, you may survive. But financially, you may die due to the costs associated with it.”
In the Philippines we have what we call health cards (HMO) and health insurance. These two are not the same. Let us look at the main differences between the two. For simplicity purposes since I am a financial advisor of Insular Life, I will be explaining from the perspective of Insular’s products: health card with Insular Health Care (I-Care) and health insurance which we call (I-HEAL)
If you want to know more about I-heal and HMO, we your financePH advisors are willing to help you.
ABOUT THE AUTHOR:
Mica Austria studied at De la Salle- Lipa with a Bachelor’s degree in Accountancy. She passed the Certified Public Accountant (CPA) licensure exam on October 2010. She worked as a senior associate in Isla Lipana & Co. Auditing Firm from October 2010 to May 2013. Afterwards, she worked as an audit supervisor in Cebu Pacific Air for one year before fully dedicating her time as a Financial Advisor. She chose to pursue this profession because of its mission and purpose in the society which is to uplift the lives of the Filipinos thru financial literacy and planning.
If you want her to be your financial advisor contact her at firstname.lastname@example.org.
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The views and opinions posted by our bloggers do not necessarily state or reflect those of FinancePH, its management, employees and advisors. Our blog is intended to share the diverse opinions of our bloggers.
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