Monday, June 21, 2021

What every Filipino woman should know to ensure her insurance is priced just right

FILIPINOS have found out that having life insurance is a critical “must-have” especially during uncertain times such as the current Covid-19 pandemic.

Those with some forms of insurance are better prepared to face medical emergencies because the high cost of medical expenses can ruin one’s finances.

One way to prepare for this is to get a life insurance with medical or health riders. But even this simple task of getting insured can become complicated and expensive, especially for women who are not able to get the proper advice.

But why so? Read more below and find out why this seemingly simple process can be costly, plus learn a few simple hacks that Filipino women can do before getting or upgrading their policy.

One should pay only for what she needs

One of the biggest considerations in getting insurance is the cost. There are several factors that go into the pricing of insurance, one of them are riders that add more benefits such as health benefits.

Some might have heard their insurance advisor explain to them that their health coverage includes a long list of critical illnesses; of course, the longer the list, the more expensive the insurance becomes.

As a perceptive woman, if one has a choice, she will choose only the critical illnesses which she is predisposed to get by virtue of gender, heredity and lifestyle. This is a smart way of paying for the coverage for illnesses to which she would be more vulnerable. It also makes one avoid the cost of many other illnesses she has the least possibility contracting.

Women-specific coverage

Another way to pay only for what one needs is to get a woman-specific insurance policy. Diabetes remains a big concern among Filipino women, so are various types of cancers—breast, ovarian and cervical. A woman-centered insurance will have these features and benefits that are unique to women’s needs.

It makes a lot of sense for them because they can be sure that their benefits are directly related to what they may experience in the future.

It should earn in the long term

Purchasing an insurance is a life-enhancing event because it is an investment in one’s life and that of the family.

In the ideal scenario, after a long time of paying for the premiums, the insured stays healthy and reaps the benefits of accumulating hefty savings.

The good news is that this scenario is also available to women.

They can be insured with medical or health coverage that is specific to their needs, and after reaching a certain age without having to use their health benefits, their policy would have earned a sizable fund value which they can withdraw as proceeds of their life-long savings.

This must be real

Does such a product exist in the Philippines?

Fortunately, it does! Insular Life’s “She Cares by Sheroes” is exactly this kind of product. This is a “3-in-1” solution that addresses health, protection and investment catered for the Filipino woman.

Since this is customizable to the needs of women, it is priced just right for them. And since this is also an insurance and investment product, they may use this to prepare for the future through its investment element.

“She Cares by Sheroes” is the first life insurance with investment product that provides 100 pecent coverage for diabetes-related illnesses developed specifically for women in the country.

This was created when Insular Life partnered with the International Finance Corp., a member of the World Bank Group, for an insurance that caters specifically to women.

Aside from the diabetes cover, “She Cares by Sheroes” covers three female-specific cancers: breast, ovarian and cervical.

As Filipino women become more and more involved in the local economy, becoming breadwinners and executives in the corporate world, they deserve a product that they can rely on for their peace of mind.

To know more about this special product for women, one can talk to an InLife financial advisor or check it out at SPONSORED CONTENT


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