Imagine you are now 60 years old. Wow! Retired ka na. You are enjoying life na because you do not have to work anymore. You also have your SSS pension coming now every month.
However, since you are old, you now have a fat heart. Maraming taba yung heart mo because of always eating sa Jollibee and Mc Donald's kasi sa kanila mura when you were younger.
Or nagka sipon ka. Kaso since you are old an your immune system is susceptible, naging Pneumonia. Kelangan ma confine in a hospital.
Where would you get the funds for your hospitalization? We all know na kapag matanda ka na, that's when all the sicknesses start popping up especially if you have lived a sedentary lifestyle.
HMO companies will not accept you anymore to provide you with health benefits. If they will provide you with one, it will be at the cost of an arm and a leg literally.
Will you depend on your loved ones' or childrens' generosity to take care of you and finance for you when you get older?
I am not. I am taking a hold of my financial foundation and planning for my retirement as early as now (I'm now 29 years old by the way). I want to make sure that I have enough money to last me until my retirement age.
Having savings for retirement is great but a better option is having savings for your retirement and having health care too.
One of the steps I am taking is getting longterm health care so I can be rest assured that I am covered after the age of 60.
I have just signed up for the Kaiser longterm healthcare. One of the product offerings of IMG. I would say that the money I have paid and will be paying it in the next 6 years is money well spent.
Kaiser Longterm Healthcare is a 3-in-1 product that gives you: (1) investment, (2) life insurance and (3) longterm health insurance. All in one plan! Killing three birds with one stone. 😀
The Kaiser Longterm Healthcare Program has 3 phases:
This is the part when you will pay your Kaiser longterm healthcare program for 7 years.
This is the time for planting. You'll be saving up for seven years so you can reap your rewards after.
Kaiser has several plans and at the time of writing this blog post, their cheapest one is the 45K plan for Php 26,470 per year up to the highest plan which is the 1M plan for Php 588,214 per year. (Hey it's nice to know the price outright!)
I have their 50K plan so I'm paying Php 29,411 per year plus the policy fee of Php500.
During the 7 years accumulation period, you would have these benefits:
Pre-existing medical conditions or illnesses are not covered during the accumulation period.
Because it is also an investment product, the money you have paid for seven years have an extended period or what we call the growing and waiting period as the funds are invested and grow at an average rate of 10% (average rate for mutual funds).
You no longer need to pay your annual premiums during this time.
The benefits you get are:
You will have guaranteed health benefits that you can use.
What I love about the Kaiser longterm healthcare program is that when you get sick, it is a health fund, but if not, it becomes your savings. This is unlike traditional HMOs wherein you pay every year and when you don't use it, say goodbye to your 10K annual premium. (Hey it's hard for me to part with that money. Noda?)
Do you want to learn more about the Kaiser longterm healthcare or sign up for it na? Email me at firstname.lastname@example.org so I could set up a meeting with you. 🙂
Do you have questions? Ask away at the comments section below!
Email me at email@example.com so I can talk with you about how we can increase your cash flow and also do a financial check up with you. It's Free so you won't lose anything. 🙂
I am a member of IMG (International Marketing Group), and an accredited broker of Kaiser, and I earn commissions for every policy that I can close. We consider Long Term Health Care as level 1 of Financial Freedom and Financial Peace.