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Why you should get a Critical Illness plan?

On my previous blogpost, I talked about being financially free.  In that post, I talked about why we should start making our way to financial freedom. One of the reasons is to avoid going into debts and selling our properties when we get sick. We all know that healthcare is very expensive, especially for critical illness like cancer, etc. 

With our environment and the kind of food that we have nowadays, plus our exposure to radiation, it is inevitable to get sick someday, somehow. So, what we really need to do it is to prepare for it. 

How do we prepare when that time comes?

There are two choices but these two are equally important. One is getting a basic health insurance and other is getting a Critical Illness Plan. I'll be focusing more on the latter. 

Last year, an insurance/investment agent who happens to be a friend of my husband invited is in their office so he can propose an investment plan for us. So, we went there and we were assessed. The first thing they asked us was what our priorities were in terms of securing our future. Without hesitation, I said "health". So, they offered us Health Max by AXA Philippines.


For my policy, I pay an annual premium of P24,380.00 but my basic sum insured is P1,000,000.00  That means, if I get critically ill in a year (Major Critical Condition Benefit) or if I die (Death Benefit), the company would give me 1 million to cover for health care bills or to provide my family enough amount to survive for a couple of years after I die. It also has coverage for Minor Conditions and includes riders when I get disabled.

The policy also has a Living Benefit if I surrender/terminate the policy. For example, if I terminate the policy at the end of year 10, I would get a guaranteed cash value of 139,000.00. If at the end of year 42, I would get a cash value of 661,000.00.

Summary of benefits of Health Max:

1.  Major Critical Condition Benefit
2. Minor Critical Condition Benefit
3. Death Benefit
4. Living Benefit 
5. Advanced Health Fund
6. Maturity Benefit

I really recommend everyone to get a policy like Health Max. Other companies offer policies like this. Regardless of what company or investment institution you will choose, what is important is for you to get one so you can secure yourself and your family in the future.



Note: I am in no way connected to AXA. I only shared based on experience.


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