As in many Asian cultures, family is undeniably an important part of Filipino society. Philippine culture and language is built around the idea of filial piety, so it's no surprise that family can play a huge part in how an individual thinks or acts. Whether it's moving to a new city, picking a place to work, or choosing the right university course, many Filipinos take their family members' input into consideration.
The Philippines is one of the countries with the youngest populations in the world, with over 64% of the population in the age range of 15 to 64 years old in 2015. With a birth rate of 2.92 children per woman, the country is full of families, many of them just starting out. If you're the head of a household and just starting to build your career and family life, then you definitely need a good health insurance plan that will keep you and your loved ones safe from worry.
As an adult, there are tons of different costs that you need to take into account when building a life. According to a survey conducted by the National Economic and Development Agency, 79% of the respondents wanted a "simple life." A simple life was defined as a medium-sized home, earnings to support everyday needs, at least one car, money for local trips, and the financial capacity to support children's college education. All of these would require an income of at least Php 120,000 per month, and that doesn't include extra expenses like medical emergencies.
Despite one's best efforts to prepare for the future, sicknesses and accidents can often be unpredictable. Besides the daily costs of maintaining your household, you may sometimes be faced with sudden expenses for illness and injury. The Philippine Statistics Authority recently reported that out-of-pocket medical expenses in the country are growing steeply, up 8% in 2017 when compared to 2016. And in the Philippines, where medical inflation was expected to hit around 13.1% in 2018, those costs can often be debilitating to many families.
Love and concern for your household means that you want them to be protected at all costs, and one way to do that is to get your family health insurance. A good health insurance plan can help protect your loved ones against the sudden costs of hospitalization and provide financial security in cases of emergency.
But why get health insurance that's specific for your family? You, your spouse, and your children all have different lifestyles, and these different lifestyles can often mean different medical needs. For example, children may need regular check-ups more than adults do, and adults will need different medication and procedures. Not all of these needs can be covered by your monthly budget, so a health insurance plan for your family, including your parents, can be a major need.
For many health insurance plans, family members may become a burden rather than a gift. Most health insurance plans require additional payments for family members, with some premiums almost doubling or tripling in cost depending on the number of enrolled dependents. These costs can be prohibitive for young families, especially, as many insurance plans also require additional fees for young children.
When picking the right plan, cost is an important consideration. Affordable family health insurance plans may seem few and far between, but that doesn't mean they're impossible to find. Paramount Direct's HealthCare Cash Plan offers plan options from 500, 1000, 2000, 3000, or 4000, and has blanket coverage for enrolled family members with no increase in costs. This means that your flat rate premium is able to cover yourself and your family members at no additional cost, which is ideal for young families on a budget.
The payment period for Paramount's health insurance plans for families is a period of up to 10 years, but coverage extends to up to 20 years. With this generous hospitalization plan, you can ensure that your loved ones are protected for longer, without any hidden or extra costs.
Other family health insurance plans may require extra payments depending on the number of dependents, sometimes doubling your monthly premium. These other plans will also have special computations or restrictions in coverage when it comes to children, which can often be frustrating for young parents.
Paramount's HealthCare Cash Plan is specially designed for clients aged 20 to 50 years old and their families, so you know it's specific to you and your family's needs. Unlike other plans, which have a limit on how many dependents you can enroll, the HealthCare Cash Plan allows you to enroll yourself, your spouse, and any number of your children under your plan with no additional costs.
The HealthCare Cash Plan helps alleviate the worry and stress that comes from sudden hospitalization. Its benefits include the Daily Cash benefit, which covers up to 1000 days per illness, per confinement. It also includes Daily ICU benefit for serious cases, to be given on top of the Daily Cash benefit, as well as a lump sum Surgical Cash benefit for surgeries covered under your plan, and cash assistance for confinements that last 30 days or more. Besides these generous benefits, the HealthCare Cash Plan also includes an anti-inflation feature, which means that your benefits are guaranteed to increase by 10% every year for the first five years of enrollment.
The HealthCare Cash Plan also includes guaranteed acceptance, with no need to take time off from work or school for expensive and tedious medical examinations. Coverage begins once the first premium is paid, with no need to wait for benefits, and the cash benefits are paid directly to you with no restrictions on how you choose to spend them.
Raising a family can be one of the truest joys in life. Make sure you're able to provide for your loved ones worry-free with the best family health insurance plan in the Philippines.
Simply click the sign-up button below, and you can look forward to a long future of happiness with your family by your side.