Whether through high-interest savings
accounts, savings plans, and educational plans, parents invest in various tools
to help them finance the needs of their children as they grow into adults.
However, parents need to look at their own future beyond the needs of their
kids as well. Their need for financial security and health protection continues
even after retirement, which might make it difficult for them to allot funds
for those needs. Keeping their finances secure with a tool that can protect
their health and future income is essential so they don’t deplete their savings
should an emergency arise.
In 2016, the World Health Organization said
that life expectancy across the globe has increased by five years since 2000.
This is a result of better access to basic healthcare and innovations in
preventing treatable diseases. While this information bides good fortune, there
is a growing need for older adults to better plan for their futures when they
no longer receive a regular income after retirement.
The usual route to compensate a medical
need is to turn to one’s savings, however with the rising cost of healthcare
globally, this could easily deplete funds for the future. That’s why when it
comes to assurance, especially with one’s health, a better option for
preparation is a comprehensive health plan.
Most adults depend on health plans provided
by their company but are limited by many criteria. There are limited conditions
and beneficiaries covered by health plans, typically carried out by HMOs. The
biggest consideration is that when the employee leaves the company, the health
plan also terminates. This becomes problematic for parents who are going into
retirement, or retired parents of policy holders.
There are many pros and cons to weigh in
choosing the right insurance plan but having a separate one independent of
employment and any other external factor is the best choice. It’s also
important that the insurance provider has a suite of products that can answer
both financial and physical needs, as well as a strong infrastructure that
makes claims easy to process.
That’s why there is BPI-Philam Critical
Care Plus.
Critical Care Plus is a variable life
insurance that provides coverage against a wide array of major diseases and
critical illnesses and sets aside funds for rainy days. It's a double-advantage
policy that gives life insurance coverage, securing the family against
financial strain in an emergency, and health coverage which pays for medical
bills that may arise in the future, allowing families to keep their savings
undisrupted.
With Critical Care Plus, the insured
automatically gets a cash benefit upon diagnosis of any of the covered critical
illnesses. He or she is also exempted from making any future payments to the
policy to focus on getting better.
Before that happens, however, Critical Care
Plus, as part of BPI-Philam’s Wellness Series, provides rewards and benefits
for the insured through Philam Vitality.
Philam Vitality gives the insured a better
understanding of their health’s current state and what they can do to better
it. The program also provides upfront additional coverage of 20% while the
insured’s lifestyle is improved through health-improving decisions, amplifying their
choices with fun and practical rewards like exclusive discounts on lifestyle
products and services.
Integrated with Philam Vitality, Critical
Care Plus also promotes a balanced lifestyle through deals on medical services
as well as gym membership so they can really commit to a new active lifestyle.
Critical Care Plus also builds a health
fund over time that can be used for additional medical services, or any expense
they might also have--assisting policy holders whenever they have need of
it.
With the proper plan in place, parents can
be assured that they and their families can enjoy the lifestyle they live now
worry-free until the many years to come.
The journey towards a secure and better
future starts with a plan, and the best one gives a whole lot more when kept for
longer. Visit BPI-Philam's official website www.bpi-philam.com or Facebook page www.facebook.com/BPIPhilamOfficial
to know more about Critical Care Plus and all the other solutions in the Wellness
Series. Each BPI and BPI Family Savings bank also has Bancassurance Sales
Executives ready to give expert advice so anyone can live life just as they
planned.
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