Preparing for Life as a Young Professional

August 2, 2019

Life after college is more than just the result of getting good grades. It’s something to be serious about, especially if you are starting your first real job as a young professional. After the more laid-back days of school, it’s now time for the many challenges that you are going to face in this new chapter of your life and it makes a big difference if you’re prepared. Starting your first job is a drastic lifestyle change because you need to adjust to many things, such as trying to fit in the new environment, shopping for new work clothes, learning and abiding by the company policies, meeting new people, working for long hours, and many more.

According to recent statistics, around 26.9% of the employed population in the Philippines belong to the millennial age group or those between the age range of 25 to 34 years old. Competition in the working field can be tough, and you must be equipped with life skills to keep you sane and help you deal with the daily demands and challenges of life.

To get you started, here are some of the important things that you need to have as you start your working career.

  1. The Social Security System or SSS is a mandatory government contribution that your employer deducts from your salary. If you are applying for SSS number for the first time, you need to know that SSS provides protection to its members against sickness, death, maternity, old age or any other circumstances that may result in financial loss or burden. There are different types of SSS benefits that you should be aware of, such as sickness, maternity, disability, retirement, death, funeral, and salary loan.

    Obtaining an SSS number can be done online, or by simply going to any SSS branch near you. It usually takes one whole day to receive your number as they process it manually. Don’t forget to bring the necessary documents to avoid delays in processing your request. And if you already made at least one monthly contribution, click here for guidance on how to get your SSS ID. By doing your SSS registration online, monitoring your contributions on time and checking your loan eligibility is more convenient than ever.

  2. Pagtutulungan sa Kinabukasan: Ikaw, Bangko, Industriya at Gobyerno, or Pagibig Fund is another mandatory government contribution, open to all who are covered by SSS, that provides cheap house financing and savings program to all its members. The three benefits and programs of Pagibig Fund are the Housing Loan, where you can own a property that is payable up to 30 years; the Short Term Loan, which is classified into two: the Calamity Loan, which you can avail after a calamity, and the Multipurpose Loan, which you can avail for whatever purpose you desire; and the Provident Savings, which is the employee’s savings and total dividend earnings that can be claimed after 20 years of continuous payment.

  3. Philippine Health Insurance Corporation or Philhealth is a government health program. Philhealth pays a subsidy for room and board, drugs and medicines, laboratory exams, operational rooms, and professional fees during your or your dependents’ confinement of not less than 24 hours. Philhealth registration is mandatory for employed Filipinos, and you can avail of its benefits after your employer remits your three monthly contributions. It is the universal health care program that ensures sustainable national health insurance for all members, including indigent, senior citizens in the Philippines, and others.

  4. Health Insurance - Everyday travel increases your risk of acquiring diseases or injuries. Aside from that, your job may also cause you stress that may contribute to different health disorders such as heart disease, high blood pressure, cardiovascular disease, or stroke. Work stress may also trigger sweet cravings that may lead to diabetes or obesity. As you try to learn how to cope with stress it is important to have a plan in place. Sickness and injuries may come without warning, so having an affordable health care and hospitalization insurance that gives you added peace of mind while enjoying your job.

    Paramount Insurance introduces one of its best health products called the Hospital Income Benefit Plan, which covers pre-existing conditions after 2 years and has an affordable health insurance premium that starts at Php 69 for individual coverage. Eligible age for this product is from 20 to 64 years old.

    During confinement, you will receive daily financial assistance of up to Php4,000 for regular confinement, up to Php8,000 for dread disease confinement, or lump sum benefit of up to Php80,000 for long-term confinement. The advantage of having this plan is that you can also cover your spouse and all your children from 0 months to 20 years old.

    Another chapter of life is just beginning and as you embrace your new career, ensure a good future for yourself by putting your health and your family first. Get ahead, soar high, and click the apply button below to start your coverage.