Health often takes a back seat, not until a health emergency happens. Don’t get caught unaware. Here are some of the ways you can prepare financially when sickness strikes.
Health often takes the back burner when people feel generally well or when they are too busy to pay attention. It’s when sickness comes swooping down that they realize the importance of being prepared for health emergencies and critical illness. That’s why being financially prepared is a must.
If you’re employed here in the Philippines, you’ll have an HMO plan that lets you get health coverage from the Philippine Health Insurance Corporation (PhilHealth) and various other government offices.
While this is ok for minor medical events, it won’t be enough for serious conditions that’ll require long-term treatments. Illnesses such as those can eat up all your income and may even force you to dip into your own savings. And because you’re sick and unable to work, you won’t have income to support you.
It’s a lose-lose situation that you can actually prepare for. Here are some tips so you can be ready when it happens.
We’ve all heard stories of friends or family members who have suffered a serious illness. What we don’t hear is how the financial strain may also have made a major impact during this trying times. Treatment and recovery require a huge financial support, for which a critical illness life insurance plan is a viable solution.
Also, Set for Health 's benefits are not just limited to health care. It has a rewarding component that gives you the benefits for living a healthy life until age 75. It is exciting to know that life insurance is no longer only for the benefit of heirs or those who will eventually be left behind. It is now a solid tool that can help an individual in addressing his financial needs be it for healthcare or expense protection.
In life, it is better to be always equipped with Plan Bs or emergency options when things go awry. Prevention is indeed better than cure, but preparation (of the financial kind) can be a more realistic approach to life’s uncertainties.
About the author
Marife is a freelance writer/copywriter specializing in advertising and marketing. But really, just tell her what you need and she’ll try her very best to come up with something interesting. She is a mom and wife 24/7, a Netflix junkie, meme lover, and a cat person who does not own a cat.