HEALTH is wealth. This is probably the most widely used quote in our situation today, having been heldunder quarantine for more than a year now. Before the coronavirus disease 2019 (Covid-19) pandemic, the top five leading causes of mortality in the Philippines are heart disease, cancer, cerebrovascular disease, pneumonia, and diabetes. These illnesses have two things in common - deadly and high treatment cost.
An article published in Investopedia in February 2020 cited that in the US, 66.5 percent of personal bankruptcies are due to medical issues resulting to either inability to pay hospital bills, job loss, or both. This is in the US where; health care programs are nearly perfect. Imagine the same thing occurring in the Philippines where, most of the Filipinos rely on the Philippine Health Insurance Corp. (PhilHealth). Statistics tells us that illnesses account for nine out of ten causes of deaths. These are only few of the reasons that make health insurance an important component of a personal financial plan. With a solid health care plan in place, you are securing your own savings, cash flow, investments, and potentially, your loved ones' money.
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