How many Filipinos remain uncovered by any type of insurance?

Based on statistical data, only around 50 million out of the 100 million Filipinos are covered by insurance. This is only around half of the population. These are individuals that have gotten insurance coverage from private insurance companies. 

Meanwhile, the government is hard at work to make sure that all Filipinos will receive healthcare coverage under PhilHealth, however, at the moment only around 50 million Filipinos are currently covered.

What happens to the population that does not have any type of insurance coverage?

If the person is not currently covered by a private insurance company and not under PhilHealth coverage either, these people would have to pay for any medical expenses out-of-pocket. These people usually have to deal with situations as they come. They do not have an insurance policy to help them with the expenses for the medical bills and other types of emergencies that may happen to them.

Insurance is designed to give a person and their family from financial crises that may befall them. More than 50 million Filipinos believe in the power of insurance, but sadly not all people have the funds to invest in any type of insurance.

Why people should invest in insurance

The need for insurance boils down to extra expenses that remain unaccounted for. Many people have so many expenses that they are unprepared for. Most Filipinos do not allot a part of their budget for emergencies. They usually rely on their meager income and savings to cover the costs of any emergencies.

Having an insurance policy will enable people to have peace of mind to be able to live their lives free from worry. They will have enough extra funds to face any kind of emergency without touching the savings they have in the bank.

Do you have insurance coverage?

If you are one of those Filipinos that still remains uncovered by any type of insurance, it may be high time to invest in insurance. Depending on the needs of your family the monthly budget you have and the amount of income that you receive every month, you should consider getting insurance coverage. Most life insurance companies can also offer health care coverage. Having a solid insurance plan can enable you and your family to reach financial freedom and security.

You will no longer need to touch your savings account every time you will need extra funds for an emergency. When a family member gets sick, you will not need to deplete your savings just to avail of treatment or a doctor’s appointment to get diagnosed. Your insurance policy can take care of that for you.

Even as our government continues to improve, medical insurance along with it, it is still wise for you and your family to invest in an insurance policy from a private insurance provider. You can never be too careful about the surprises that life can sometimes suddenly spring on you. Having an insurance policy will give you and your family the comfort to live your lives free from worries. What are you waiting for? Don’t be one of those Filipinos who are still uninsured in 2019! Get an insurance policy for you and your family today!

Ways you can have your money work for you

Investment.

Having an investment means you will be able to have an income that falls outside of the regular salary that you get from your nine to five job. Investment is usually a way for you to make passive income. This means that you will not have to exert very much effort for you to be able to gain income.

Many have the wrong notion that investment requires a lot of money. Many think that only the rich and famous can invest their money. The truth is it does not take very much for you to have an investment. The trick is looking for the right type of investment and making sure that your money is put in the right place to ensure a return on your investment.

Set up a small business.

Find something that you like doing and try investing time and money into that hobby to make it into a profitable business. If you enjoy baking, you can put up a small business that makes cupcakes for your friends and family. Start small. A successful investment does not need to be a big enterprise right away. Start small and set realistic goals.

Savings.

Having savings that accumulate interest for you can also be another way for your money to work for you. There are many ways by which you can have savings and enjoy the benefits. Bank products such as savings accounts and also investing in stocks can help make your money do the work for you.

Insurance policy.

One of the best ways on how you can invest and let your money earn passively is to invest in an insurance policy. Many are not aware that insurance policies can include an investment portion. The money you invest in an insurance policy can be set aside into many cash benefits that you can use when you need extra cash.

You can set up a cash benefit that can be a savings account. You will not be able to believe how much your initial investment will grow after just a few short years.

How does your money grow?

When you invest money in an insurance company, the money will be invested to make sure that your money will grow. Experts in the stocks industry will be the ones to invest your money in stocks and make sure that your hard-earned cash will be invested properly. This is how insurance companies make money and at the same time, can also assure policyholders that their money will grow exponentially in a short amount of time. 

How your insurance policy can work for you

There are many ways by which your insurance policy can be the one to earn passive income for you. Here are the most common ways on how it can help you attain financial stability.

• It has many cash benefits you can use.
• You can borrow against the amount of your policy when you need it.
• It can also act as a retirement fund.
• It provides an affordable way to invest your money.
• It offers an almost risk-free way to invest.
• You can use it as a savings account, especially if you have a hard time saving money.
• It is an affordable and offers a 100% return on your initial investment

What are you waiting for? Apply for an insurance policy today and you will be that much closer to attaining your financial goals.