Insurance products to consider for yourself and your family this year 2021
Oh, congratulations! If you read this, then you've survived the year 2020. It's been a very, very tough year for us, but we made it! While we look forward to a fresh start in 2021, it is important that we plan and risk proof of our health and our family’s as well, after all COVID-19 is still around.
During this pandemic, we have seen a rise in purchases for insurance policies that have covid-19 financial protection. But it can be overwhelming often, so the question is, what are the important insurance products you need for 2021?
Here are some of our insurance plans that will certainly help you escape financial loss against sickness, accidents and of course, against COVID-19.
1. GIBCO Lifecard+
Let’s face it, life insurance can sometimes get confusing especially when there is an investment factor included. So for those who just need a straightforward traditional life insurance policy, then the GIBCO Lifecard+ is for you. Essentially it covers the following:
- Death due to Sickness (COVID-19 INCLUDED)
- Death due to Accident
- Natural Death
It also gives you an insurance protection against any form of accidents which includes motorcycling accidents.
Here’s a quick checklist for you to see if you are eligible to purchase.
- Filipino and permanent resident of the Philippines
- 18 to 60 years of age; in good health,
- Must not engaged any hazardous activities
Rates varies depending on the insurance coverage: for reference check out the table below:
2. F360 family health insurance
If you are a family of 5 people on a tight budget, whether single or married with 4 dependents,then this insurance product is for you.
The F360 health insurance covers yourself, but it also extends coverage to your 4 immediate family members, and the best part is, you will only pay one insurance policy that would cover 5 people.
It is relatively cheap compared to other health insurance products in the market but it also comes with a higher comprehensive insurance coverage that covers both injuries and hospital confinement.
For reference, please see table below:
|Accidental Death & Dismemberment & Disablement (AD & D) with Motorcycling Risk||250,000||500,000||1,000,000|
|Unprovoked Murder & Assault (UMA)||250,000||500,000||1,000,000|
|Accident Medical Reimbursement (MR) for NON-Motorcycling Risk||25,000||50,000||100,000|
|Burial Expense Benefit / Cash Assistance – Non Accidental Death||5,000||10,000||20,000|
|[Reimbursable] Daily Hospitalization Income Benefit (DHIB) – Sickness & Accident (upon 24 hrs confinement)||Principal & Spouse - 500/day; Children & Siblings - 375/day; Parents - 250/day, 25 day/ incident||Principal & Spouse - 1,000/day; Children & Siblings - 750/day; Parents - 500/day 25 days/incident||Principal & Spouse - 2,000/day; Children & Siblings - 1,500/day; Parents - 1,000/ day 25 days/ incident|
|Accident Medical Reimbursement (MR) due to Motorcycling Risk||12,500||25,000||50,000|
|Double Indemnity Coverage||500,000||1,000,000||2,000,000|
|Fire/Flood (State of Calamity) Cash Assistance||2,500 per family||5,000 per famil||10,000 per family|
|Educational Assistance||5,000 per child||10,000 per child||20,000 per child|
|Life insurance (Principal Only)||25,000.00||50,000.00||100,000.00|
3. PNB Allianz Well
Not to kid you, but this health care plan can give you an annual benefit limit of 100 million. Yes, you heard it right 100 million pesos medical benefit limit. In a nutshell, This health care plan is similar to your HMO plan that you bought or your company gave you as a benefit, however the very glaring difference is the amount of coverage the two has. But what does PNB Allianz Well cover anyways?
Here is the rundown of what is included in this health care plan.
Summary of Coverage
Let’s breakdown ALLIANZ WELL’s 6 main coverage
- Essential Benefits
- Cancer - FULL COVER
- Dialysis - FULL COVER
- Organ transplant - FULL COVER
- IP (In patient) and Day Care Benefits
- Hospital accomodation - FULL COVER
- Hospital charges - FULL COVER
- Day care treatment - FULL COVER
- Supplementary Benefits
- Complication of pregnancy - FULL COVER
- Psychiatric treatment - UP TO 30,000.00 Php
- Nursing care at home - UP TO 30,000.00 Php
- Rehabilitation treatment - UP TO 30,000.00 Php
- Emergency Benefits
- Local ambulance - FULL COVER
- Emergency accidental out-patient treatment - FULL COVER
- Emergency Dental Treatment - FULL COVER
- Emergency Treatment Outside Area of Cover - FULL COVER
- Med Evac & Repatriation Benefits
- Medical Evacuation - UP TO 10,000,000
- Medical Repatriation - UP TO 10,000,000
- Repatriation of Mortal Remains - UP TO 10,000,000
- Travel Expense for 1 Companion - UP TO 10,000,000
- Travel Expense for Insured's Children - UP TO 10,000,000
- Additional Services
- 2nd Opinion and TeleMedicine - (EXPERT OPINION & TELEMEDICINE SERVICE)
- Health Screening
- Gym & Yoga
- Nutrition Counseling
- Any individual whose Country of Residence is the Philippines
- Application age up to age 70, renewable up to age 99
- Area of cover is worldwide except USA
As you can see this is more than your average HMO plan, and don’t worry if you already have an existing HMO coverage but would want to avail this healthcare pla as well, the good news is, you can! Because PNB Allianz Well supplements your HMO plan, think of it as another layer of financial protection for you in case, your HMO plan is not enough.
4. Emergency ER Cards
If your budget is tight, then this can be of great use. From the word itself “EMERGENCY” this card has a specific purpose which is to help you in times of emergency. As we know it, getting in a medical emergency can be very costly.
Luckily we compiled and compared the best emergency cards in the market for your reference.https://www.gibco.com.ph/articles/gibco_cards.php
In essence all products, go hand in hand with each other. If you can, the best to avail all of them. Otherwise should you need advice on what to get, we’re always here to help.