Getting sick in the Philippines can cost a fortune, especially when the disease is sudden or unexpected. Of course, one can always get an emergency loan Philippines to cover these unpredictable expenses. But we will also tell how to insure properly.
Getting sick in the Philippines can be a major blow, both to your health and your wallet. From strokes and heart attacks to the big C, critical illnesses come with a hefty price tag. Hospital stays and treatments are not cheap, and if you’re not prepared, they can drain your savings faster. A 2019 Philcare study painted a grim picture: almost 40% of Filipinos wipe out their savings when faced with big medical bills, and a quarter rely on loved ones to foot the bill.
Filipinos are more likely to get these serious illnesses due to unhealthy habits like bad eating, skipping exercise, and indulging a little too much in booze (says the World Health Organization and the Department of Health). Even a simple cold means shelling out for meds or missing work to recover – lost time and money that could have been better spent.
With healthcare costs skyrocketing, dealing with a critical illness can feel overwhelming. So, the big question is: can you handle these unexpected financial burdens? If the answer’s a shaky “no,” then consider getting a good health insurance plan, emergency loans and taking control of your finances. Let’s talk about some ways to prepare for that medical curveball life might throw your way.
Getting Prepared for Unexpected Illness in the Philippines
Medical emergencies can strike anyone at any time. In the Philippines, the cost of treating critical illnesses can be a huge burden.
Take heart surgery, for example. Depending on how serious your condition is, it can cost anywhere from Php 300,000 to Php 600,000. And that’s usually just in a government hospital. Private hospitals will charge even more.
Cancer and chronic lung diseases are no different – they’re expensive to treat, often requiring additional costs for post-surgery care and rehab.
Moreover, being sick means missing work, which can lead to lost income. If you have a family to support, the worry goes beyond medical bills. You’ll be scrambling to cover daily expenses like rent, groceries, and maybe even school fees.
Having some form of health insurance or taking emergency loans can significantly ease this burden. Although it won’t eliminate all the costs, but it can make a world of difference during a difficult time.
Critical Illness Care
Getting sick is never fun, but a serious illness can be downright scary. Here’s how to be a little more prepared, just in case:
Healthy Habits are Your First Line of Defense:
Eating right, exercising, and getting enough sleep are your best weapons against disease. Think of it like building a strong wall around your body.
But Walls Aren’t Everything:
Even the healthiest person can get sick. That’s why having a backup plan such as health insurance and emergency loan is crucial. This lets you focus on getting better, not worrying about bills.
Know Your Government Help:
PhilHealth, the government health program, offers the Z Benefit package for critical illnesses like cancer. However, it’s only available in a limited number of hospitals.
Company Care Can Help (a Bit):
Many workplaces offer HMO coverage, which pays for basic stuff like hospital stays and doctor visits. But remember, these plans often have limits, especially for long-term treatments.
Health Protection for Filipinos
Being prepared for unexpected health issues is crucial. Here’s how critical illness insurance can help:
Financial Safety Net:
When a major illness strikes, critical illness insurance provides a critical financial safety net. The amount you receive depends on your chosen plan, ranging from hundreds of thousands to millions of pesos. This payout can help cover a variety of expenses that arise during treatment, such as hospital bills, specialist consultations, medications, and rehabilitation. It can also help replace lost income if you’re unable to work while you focus on getting better. This financial buffer can significantly reduce stress and allow you to prioritize your health and recovery without worrying about the financial burden of your illness.
FWD Life Insurance Options:
- FWD Set for Health: This comprehensive plan goes beyond basic critical illness coverage. It protects you against both major and minor illnesses, allowing you to claim up to three times for different qualifying conditions. This provides a valuable safety net if you encounter multiple health challenges down the road. An added benefit: If diagnosed with a major illness, FWD waives your future premiums. This financial relief allows you to prioritize your health and recovery without worrying about keeping up with insurance payments.
- FWD Vibrant: This feature-rich plan goes beyond just a payout upon diagnosis. FWD Vibrant offers a holistic approach to health security. It starts with preventive care by including health screenings to help identify potential issues early. If you are diagnosed with a covered critical illness, you can claim up to six times throughout the policy period. This provides exceptional coverage compared to plans with a one-time payout limit. Beyond the critical illness payout, FWD Vibrant provides additional financial support through a health supplement benefit. This benefit can help offset out-of-pocket medical expenses not covered by your main health insurance. The plan even includes a minor illness benefit worth 20% of your total critical illness benefit amount, providing support for managing less severe covered conditions.
- FWD BIG 3 Critical Illness Insurance: This streamlined plan focuses on the three most common critical illnesses Filipinos face: cancer, heart attack, and stroke. Upon diagnosis of any of these conditions, you receive a cash payout to help manage the financial burden of treatment. An added benefit of this plan is unlimited consultations with general practitioners and family doctors at Aventus Medical Inc. clinics nationwide throughout the year following your diagnosis. This ongoing medical support can be invaluable as you navigate your recovery journey.
How To Insure Properly in The Philippines
Being prepared for a sudden illness includes thinking about your finances. Health insurance can help ease the burden of medical bills. Here’s a quick guide to health insurance options in the Philippines:
Types of Insurance:
- PhilHealth: This government program provides basic health coverage for Filipinos.
- HMO (Health Maintenance Organization): HMOs offer a network of hospitals and doctors you can visit for a set monthly fee.
- Private Insurance: Private insurance companies offer a wider range of plans with varying coverage for hospitalization, specific diseases, and outpatient care.
Choosing Your Plan:
Consider your needs and budget. Do you need coverage for a specific illness? Do you prefer a wider network of hospitals? Talk to an insurance agent or broker to find a plan that fits your situation.
Benefits of Insurance:
Having health insurance means:
- Access to quality healthcare: You can get treatment at accredited hospitals and clinics.
- Financial protection: Mikka Montero insists that insurance helps cover medical bills, preventing a sudden illness from derailing your finances.
Filing Claims:
The claims process varies depending on your provider. Generally, you’ll need to submit hospital bills and other documents. PhilHealth and HMOs may have specific procedures. Talk to your provider for details.
You can always seek help from emergency loans in Philippines when sudden diseases strike for financial support if the insurance fails you. AlltheBestLoans.com will help you to find the most appropriate one.
Summary
The Philippines faces a significant challenge with rising healthcare costs and critical illnesses. Filipinos can take control of their health and finances by adopting healthy habits and exploring financial safety nets like health insurance and emergency loans. Critical illness insurance plans offer various benefits, from one-time payouts to comprehensive coverage with preventive care and ongoing medical support. By understanding the types of health insurance available and carefully selecting a plan that meets their needs, Filipinos can achieve peace of mind and focus on recovery if struck by a sudden illness.
