Research conducted by GCash with respondents from the middle class revealed that one of the things that worries them most is when a direct family members get a serious disease. In most cases, families will have to use up all their savings or even borrow money just to be able to pay for the medical bills. Recovering financially may take several years.
What’s the alternative? While there are some with Philhealth coverage or an HMO (Heath Maintenance Organization) plan from employers, the limits for these may be insufficient, especially when you are confronted with a critical condition. Those who do not have such benefits can opt for a private HMO plan, however, for many, it would be outside their budget. A private HMO plan for a family of four costs around ₱100,000 yearly.
This is why Singlife created “Cash for Medical Costs,” a product that provides families up to ₱1,275,000 each in benefits to pay for high medical costs. It offers cash for every day of hospitalization, a fixed amount when you are diagnosed with one of the 125 covered critical conditions, and additional reimbursements for medical treatments needed for the most severe critical conditions.
“Although we all want to avoid it, people do get hospitalized and get critical illnesses, and we all want the best medical care available. The sad reality is that most of the time, we are forced to use the care that we can afford. From a series of interviews, we’ve learned that people resorted to emptying their entire life savings, selling property, and even having to borrow money just to afford life-saving medical treatments. We believe everyone deserves a better way to deal with these situations,” says Rien Hermans, CEO of Singlife Philippines.
‘Using today’s technology, we’ve created a better way to be protected by offering meaningful benefits for a price that fits your budget. The days when having adequate protection was only available to the lucky few are over.’
“To let as many people know that sufficient cover can fit your budget, we launched a promo to encourage people to view our offer and experience how easy it is to get a Singlife plan. Just get a quote for Cash for Medical Costs and we will give you a free dengue plus Covid-19 cover, without any obligation to buy anything. We are confident that you will be happily surprised and be willing to seriously consider,” adds Hermans. “Using today’s technology, we’ve created a better way to be protected by offering meaningful benefits for a price that fits your budget. The days when having adequate protection was only available to the lucky few are over. We’ve made it possible for every Juan (and Maria) to be in control of their financial future. Since our start in 2021, we have already issued over 500,000 policies, proving how easy it is to purchase, manage and claim insurance benefits on your mobile phone.”
Cash for Medical Costs is available on GCash for individuals and families. It offers up to ₱1,275,000 in benefits per person from as low as P848 a month. To purchase, go to your GCash app, go to GInsure and click the Singlife Cash for Medical Cost product card. You can be covered and secure your financial future in only three to five minutes.
Starting today customers who get a quote for Singlife’s Cash for Medical Costs will be given a free ₱140,000 Dengue and Covid-19 coverage good for three months.
To get your free dengue and Covid-19 cover from Singlife, go to GInsure in GCash, click on the “Cash for Medical Costs” product card, and answer a few questions to get a personalized quote. Qualified customers will get their free policy instantly! They will be notified via SMS and they will receive their letter of cover via email. It’s that easy.
All verified Gcash users, aged 18 to 55 years old who are Filipino citizens or foreigners and legal residents in the Philippines can avail of this promo.