Critical Illness Insurance: How Can It Help You?

Balancing your career and family can be difficult, especially when you’re the breadwinner. You’re the primary provider for the family’s day-to-day needs like clothing, food, education, and shelter. When you’re not feeling your best, it could take a toll on everybody in your household because you might not provide like you usually do.

Everything can be at a standstill when you get sick, which is why it’s important to learn about different critical illnesses, and why you should get critical illness insurance.

What are Critical Illnesses?

Critical illnesses refer to serious medical conditions like cancer, heart attack, renal failure, organ transplant, and stroke.

The cost of serious illnesses

If you fall critically ill, medical expenses can drain your wallet as the costs can reach up to millions of pesos. The price for stroke diagnosis, treatment, and rehabilitation can surge up to P1.8 million, while expenses for an acute heart attack can set you back by approximately P978,650.

Some critical illnesses require post-surgical care and lifestyle changes. You may need to undergo rehabilitation or hire a caregiver over a long period.

Additionally, if you have a critical illness, you are labeled as “unfit to work,” which means that you won’t be able to report to your employer until you’re well enough to do so. You won’t earn your salary and instead, get salary cuts because of your extended leaves.

If you think the projected medical costs are hefty, the expenses don’t end there. Your household expenditures continue to pile up as well. Since you’re the breadwinner, your daily expenses like house payments, groceries, and utilities are also waiting to get paid.

Prepare for the worst

Don’t wait until you feel the symptoms before you start preparing your health plan. Most people don’t think about their health when they feel fine. However, regret begins on the day of diagnosis.

Some of the leading causes of death in the Philippines include ischaemic heart diseases, neoplasms, and cerebrovascular diseases (stroke, aneurysms), which are critical illnesses. You shouldn’t think that you’re safe or immune from these medical conditions.

It’s always best to prepare for the worst so that you can continue to support your family even in times that you’re vulnerable. Getting a critical illness insurance plan is the first step towards financial readiness.

What is Critical Illness Insurance?

Critical illness insurance is a type of health insurance in the Philippines designed to help patients with their finances, particularly with expenses involving serious diseases. Also called sickness insurance, critical care insurance, and dread disease insurance, critical illness insurance covers the treatment and recovery costs of most serious conditions that require expensive treatment and procedures.

The majority of critical illness health insurance plans cover the following common conditions:

• Heart Attack
• Organ transplants
• Coronary bypass
• Stroke
• Cancer
• Angioplasty
• Kidney (renal) failure
• Advanced Alzheimer’s disease
• Coma
• Paralysis

Suppose you don’t have a critical illness health insurance plan. In that case, if you develop one of the conditions mentioned above, the expenses for extensive medical care and treatment can quickly drain your family’s medical insurance policy. Critical illness insurance fills in the gaps where costs are not covered by traditional insurance.

Aside from covering medical expenses, critical illness insurance can also help you pay your mortgage, grocery bills, and utility payments. If you need to travel for physician visits or procedures, this type of plan can cover your transportation and lodging expenses as well.

As a breadwinner, you won’t have to worry about your family making ends meet. With a critical illness insurance plan, you can ease your financial worries and focus solely on your speedy recovery.

Critical Illness Insurance by BPI AIA

If you’re ready to browse through critical illness insurance plan options, look no further! BPI AIA offers comprehensive critical illness insurance plans that provide a lifetime of health protection.

Critical Care 100 is a health insurance plan that provides critical illness coverage until age 100. With this policy, you’ll receive cash benefits to help you recover from any of the covered illnesses.

Critical Care Max is a unit-linked health and life insurance plan that provides financial benefits at the early stages of a critical illness. You’ll receive cash benefits upon diagnosis of any of the covered critical conditions.

Critical Care Plus is a unit-linked health and life insurance plan that takes care of serious health-related expenses and grows your fund for future healthcare needs. You’ll also have access to Accident Protection, a cash benefit in case of accidental death, dismemberment, or disability.

Protect Yourself from Financial Worries

Critical illness insurance helps ease your financial worries should you undergo serious medical conditions that require expensive treatment and recovery costs. Let this insurance plan take care of your hospital bills, mortgage payments, groceries, utility expenses, and everything else.

Look after yourself and your family during an ongoing pandemic by getting insured with BPI AIA. Book a virtual appointment with one of our Bancassurance Sales Executives today to learn more.