A recent article by Gideon Silverman entitled “The Importance of Private Health Insurance in the Philippines” described the health situation in the Philippines and his vision to provide health insurance to the poor. Mr. Silverman said that “Health insurance is particularly important in the Philippines, my focus market, where preventable diseases are the major cause of illness and mortality. Heart disease and diabetes account for approximately 25% of all mortalities. One in five Filipinos has diabetes, and one in three has high cholesterol. The Philippines government and the World Health Organization have recognized many cases of these “lifestyle-related diseases” are preventable or controllable through better nutrition and exercise.”

Health Insurance and Its Importance by CompareKing PH

Investopedia defines health insurance as “a type of insurance coverage that pays for medical and surgical expenses that are incurred by the insured. Health insurance can either reimburse the insured for expenses incurred from illness or injury or pay the care provider directly. Health insurance is often included in employer benefit packages as a means of enticing quality employees.”In layman’s term, if you got health insurance you don’t have to worry much about the hospital bills because you are sure someone will take part of the expenses. We can clearly see that a health insurance is a plan for a future event/s that can occur and needs medical attention.

As much as possible, we all want to be well taken care of in times of injury or sickness. A health insurance is important as it gives protection not only for yourself, but your family as well. Depending on the health insurance company and the kind of plan, you can assure of quality services from their affiliated clinic or hospital. It is also serves as an investment and one can be assured that the money you invest will go for your medical needs in the future.

There are several health insurance companies in the Philippines and one of them is Philhealth, the government’s health insurance institution. The private health insurance company, such as Insular Life, ManuLife, Blue Cross and BPI Philam provides more health insurance products that suit your lifestyle. You can get a health insurance for as low as PHP 2,400 a year from Philhealth up to PHP 14,000 or more a year from a private health insurance company, depending on the plan or policy that you choose. Accidents can happen, illness can fall on anyone!

CompareKing PH News/Blogs “http://www.compareking.ph/health-insurance/health-insurance-importance-compareking-ph/”. Health Insurance and Its Importance by CompareKing PH. December 8, 2013. CompareKing PH.