1. My mom does not have a health insurance. She was a bank executive who retired some 13 years back, sadly, she relied on her retirement lump sum and her menial SSS benefit to sustain. We, of course were not privy to her finances until the inevitable day happened.
2. Doctors quoted the entire procedure and hospital fees to reach 3M depending on the extent. Although my brother who’s connected with a bank has a health insurance, we found out that only parents up to 65 years old are covered as dependent.
3. To top the first 2 predicament, we were told that my Mom needs to undergo surgery ideally within 48hrs otherwise a further tear is possible.
My dad had to withdraw from his investments prematurely and with financial help from relatives the surgery went through as scheduled. But not everyone will experience such divine providence. All these became an eye opener to me and my siblings.
Having some savings in the bank will never suffice as after the procedure, a lifetime maintenance is inevitable. You see, after her hospitalization, she still needs a monthly maintenance of at least 50 Thousand Pesos, this is on top of the regular CT scan she needs in order to be sure that no relapse happen.
Having gone through this predicament lead to the realization that medical procedures nowadays especially those involving geriatric are very expensive. Hence, we started looking around for health insurance not just for our parents but also for ourselves.
Being investment plan holders of Sun Life, the most trusted Investment Company in the country, I intuitively asked my Financial Advisor first and got a positive feedback as there is a new product offering that involves Senior Citizen who are over 65 years of age – Sun Senior Care. The news gave us such a relief.
Benefits of SUN Senior Care includes:
- Preventive health maintenance benefit from Gowell, Sun Life’s wellness program.
- The plan covers a significant financial benefit equal to 150% of the plan’s Face Amount, in case you are diagnosed with any of the seventeen (17) covered common advanced-age critical illness conditions. This will help replace the funds you spent on diagnostic investigations, as well as other expenses related to treatment and recovery.
- SUN Senior Care shall provide an additional one-time cash benefit equal to 5% of the face amount to help ease the financial burden caused by any of the four (4) specific covered surgeries/conditions.
- You can pay in 3, 5, or 10 annual installments with a fixed amount throughout the chosen period in flexible payment terms of semi-annually, quarterly, or monthly.
- This is also dividend-earning which you may use to pay for future premiums, leave with Sun Life to accumulate, or receive in cash. In case of an emergency, your plan’s cash value is also available for a loan.
- Should you be lucky enough and no critical illness benefit has been paid, SUN Senior Care guarantees life insurance protection equal to 150% of the plan’s Face Amount, until age 100.
Having been aware of all these benefits made us decide to sign up additional policies as one can never be too sure of what the future holds. As the cliché goes “Better be safe than sorry.”
For more information on Sun Senior Care and other health and investment offers, visit www.sunlife.com.ph