Do you worry about expensive medical and hospital bills when you get sick? Especially at times like this (COVID-19 Pandemic), we want to stay safe and healthy. We can eat healthy, do exercise and practice all safety precautions but still be at risk of getting sick. It is an uncertain unfortunate event that can happen to anyone.
Now, how do you mitigate the financial impact of getting sick? The answer is getting a health insurance.
In Sun Life, there is a stand-alone hospitalization insurance that can be a good addition to our HMO and Philhealth benefits. In this blog, we’re going to review Sun First Aid Plus.
Sun First Aid Plus is an affordable 10-year health protection plan that provides benefit in case of hospital confinement or surgery. The benefit is fixed daily cash income for each day of confinement. The policy is 10 years to pay with coverage for 10 years only as well. Issue age is 18 to 55 years old only.
Profile: Male, 30 year old, Non-smoker
Annual Premium: Php 12,400
> Daily Hospitalization Allowance – Php 2,000/day
If the life insured is confined as an in-patient in a Hospital as a result of sickness or injury, the insured will receive daily cash of Php 2,000.
There is a waiting period of 30 days before the benefit become payable for any hospital confinement that may arise due to sickness. But if hospital confinement is due to injury from accident, the waiting period does not apply.
> Long-Term Hospital Income – Php 2,000/day
Insured will receive an additional income in the event that the life insured is continuously confined for more than 30 days with respect to the same confinement.
> Intensive Care Unit Income – Php 2,000/day
Insured will receive an additional income in case of confinement in the Intensive Care Unit.
> Surgical expense benefit – up to Php 20,000 per year
Insured will receive an allowance to cover surgical expenses in the event a surgical operation is performed.
> Life Insurance coverage – up to Php 124,000
The death benefit is equal to the total amount of premiums paid. This is the amount the family or beneficiaries will receive in case of death of the insured.
> Accidental Death Benefit – up to Php 124,000
Additional benefit will be given to beneficiaries in case the cause of death is accident.
>Total Disability Benefit – Waiver of Premium
In case of total disability, the premiums are waived so insured doesn’t need to worry about future premiums due.
>Return of Premium – 50% or 75%
At the end of the 10 years, regardless if the insured had hospital benefit claims or none, 50% or 75% of the premiums paid will be returned.
Advantages of Sun First Aid Plus
- Money-Back Guarantee – if the insured outlives his policy, return of premium is guaranteed.
- Affordable – premiums can be paid monthly via credit card. It is a health protection which is inexpensive to supplement to other life insurance policies, HMO or Philhealth.
- Level Premiums – premium amount doesn’t change during the duration of the term.
- Hassle-free Application – can avail option of Simplified Issue Offer (SIO), life insurance applicant need not need to provide support for insurability.
Do you want to get started with this insurance plan? Request a FREE quote or schedule a financial planning consultations here.