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This is why having your own personal Life Insurance is always a must! This the best time secure your own Life Insurance!

PhilHealth could collapse if pandemic persists

The Philippine Health Insurance Corp. (PhilHealth) could collapse by 2022 if the coronavirus pandemic persists, an official warned Tuesday.

“By next year po, wala na po tayong reserve funds. So one year lang po ang ating actuarial life,” Nerissa Santiago, Acting PhilHealth Senior Vice President, and Concurrent Vice President of Data Protection Officer, said during the Senate hearing on alleged widespread corruption within the state health pension fund.

Santiago was responding to queries of Senate Minority Leader Franklin Drilon, who was inquiring about the actuarial life of PhilHealth.

“So you’re saying that the actuarial life of PhilHealth is only one year?” Drilon asked. “Are you saying that in 2022 there will be no more PhilHealth?”

“Yes sir,” Santiago replied.

Drilon said the disclosure was worrisome.

Santiago explained that the agency expects a net operating loss of P90 billion this year and P147 billion in 2021 if the pandemic persists and no vaccine is discovered.

To keep the agency afloat, she said the government should give more contributions or subsidies to PhilHealth.

“This is very serious. We would like really to hear what steps you are going to undertake assuming that your projections are true,” Drilon said. “This is really a cause of concern for the entire country when you are saying that in 2021 unless additional subsidies are given in the national budget, the PhilHealth system will collapse.”

Before the pandemic, Santiago said the actuarial life of PhilHealth was more than 10 years.

The pandemic, however, had a “double impact” on the agency’s program because of the decreased collections and expected increase in benefit payouts. (Via Inquirer)

Picture this one out. You worked your entire life to attain a decent savings, buy several properties and secure everything for your family. After years of toil, suddenly your health has taken its toll. You got critically sick and don't have enough cash in the bank to provide for the bills. So what's the next logical thing to do? Sell properties, right? Having that dire situation and urgently need to liquidate forced you to sell the property to a break-even, or worse a far cheaper price just to get that cash fast for that hospital bill. The property you hoped to get a huge profit from, suddenly become an emergency fund tool for you to get through the hard times in your life.

That's why Life insurance is not just for Life, it's also a Property Insurance. To help you get through the tough times without compromising your property investments.

For as low as Php 60 a day, you can secure a protection that will give you a peace of mind for the uncertainties life throws at us.

Message us for a free consultation.

Life insurance is actually a product that basically protects a family which has lost either a breadwinner or a loved one. And the purpose of buying life insurance is quite simple. It’s about protecting income in case a person passes away.

So let’s say for example. Let’s look at a family - A husband, wife, two children where the husband is a breadwinner. If the husband passes away, the wife and the children need to still continue living their life. Now there are two things that will happen:

✅ Number one, they’ve lost a loved one.
✅ Number two, they’ve lost the income that that person was generating for the family.

Emotional Loss is very difficult to replace but it’s something that’ll take time to heal. However, if you additionally have a Financial Loss, when someone passes away, it takes a LONGER time to recover from that. And the simplest way to handle that is to buy Life Insurance.

When a person passes away, the family continues to get the income that that person would have otherwise generated for the family. So. Life insurance is a very simple product. It’s a contract between the insurance company and the person that if something happened to that person, the family would continue to get his or her income for the rest of their lives.

The second purpose of buying life insurance is to CANCEL LIABILITIES. So let’s say you have a liability like a mortgage. Now when a person passes away, the asset will either be taken over by the bank or the insurance company could cancel that mortgage payment. So the insurance company would pay off the liability and cancel it. So all liabilities can be protected by using life insurance in the event that someone passes away.

There are many different types of life insurance. There are TWO primary types of life insurance: WHOLE LIFE and TERM. But Life Insurance can be quite a complicated subject if you don’t spend time to understand it. So spend some time, sit down with your financial advisor to learn more about it. Cheers!

Post from Dr. Sanjay Tolani

Be prepared. Future proofing happens now!

For insurance coverage and protection, message us now!

Absolutely! It's cheaper to buy a policy when you're young and healthy..
Don't wait for another 10 years to get one.
It's never too late to talk to a financial advisor now!
Get a FREE quotation from us!😊

Congratulations sir Reyneil Lato for securing your financial protection + investment plan.

Thank you for choosing Manulife as your insurance provider and trusting Wealth Aid as your financial and insurance advisor. :)

Want to get insured?
Send us a message for a FREE evaluation. :)

Are you ready to adjust your life to the NEW NORM?

As everyone adjusts into the "new normal" imposed by the COVID-19 pandemic, the general sentiment might be how to best adapt to these changes and secure one's finances.

As everyone adjusts into the "new normal" imposed by the COVID-19 pandemic, the general sentiment might be how to best adapt to these changes and secure one's finances.

For heads of the household, this means taking into account the different needs of all family members individually and securing funds to protect the whole family in case of emergencies.

Read the full article here: https://manulife.pub/2NeiUSF

Make life in the new normal more secure As everyone adjusts into the new normal imposed by the COVID-19 pandemic, the general sentiment might be how to best adapt to these changes and secure one's finances.

For all the young families or parents to be, take a minute to read this. ⬇️

As a parent we always want what’s best for our children, we want what is best for the family. 👨‍👩‍👧‍👦

The only thing that can provide you a “peace of mind” is financial planning and insurance. ✅

Understand that you need to have that back up plan so that your young family and yourself will be protected from unexpected events.

Our responsibility is to secure a greater future for our children, spouse, parents and even ourselves, with insurance you can definitely achieve that. 🙌🏼

Transfer this risk of Income Protection to an insurance company as your family is too young to carry this risk. 🙏🏼

If you are a client reading this: Speak to your financial advisor today and read up to self educate;

If you are a financial advisor reading this: please share this with clients who you believe needs to read this… 😊

Join the Mentoring Family here for more content: https://learn.sanjaytolani.com/mentorshipfamily

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The younger the better! Good Morning. :)

⬇️

I understand insurance is not a common topic among millennials because most of you guys have a feeling of INVINCIBILITY in you. You are generally healthy and likely not concerned about the RISK of an untimely death.

I can absolutely relate to it because I have been in that stage of invincibility and my advice is NOT TO neglect it while you are YOUNG. 🙌🏼

Some of you guys do not consider that there is a need, and in a fact, a long-term benefit and how life insurance can fit into your financial security plan. 🤔

Yes, a tiny percentage of the single population really needs no life insurance at all. It could be that rare person who is not attached to anyone or anything, and they don't care about their legacy, but for a variety of reasons, it's a GREAT TOOL for everyone else. 💯

Here are SIX REASONS to consider purchasing a policy, even if you’re not married:

✅ You're not likely to be single forever: Buy a policy now, and you can just build on your existing coverage once you're married, instead of starting from scratch when you're older.
✅ It’s CHEAPER to buy a policy when you’re young and healthy. Depending on the type of life insurance you buy, a policy can also be a forced savings vehicle.
✅ If your parents (or other family member or friend) co-signed a student loan or a mortgage with you, they’ll be fully on the hook for the amount owed in the event of your passing. The last burden a grieving family member needs is a loan company hounding him or her for payments.
✅ Life insurance can be a great way to leave a LEGACY to nieces, nephews or anyone else. That list also includes your favorite charity.
✅ You could buy a single policy that would pay a lump sum to the organisation or have the policy paid to a trust and CREATE an INCOME STREAM for as long as you desired.
✅ Life insurance is at the foundation of the financial planning pyramid. Bad things happen. And when they do, life insurance is the ONLY product that provides the right solution for that moment in time. Your chances of dying are one out of one. It's just a matter of WHEN.

If you are a client reading this: Speak to a financial advisor today and read up to self-educate. 💪🏼

If you are a financial advisor reading this: please share this with clients who you believe needs to read this…

Is your family financially ready when you're suddenly taken out of the picture?
IF NOT. Talk to a financial advisor now.



📷 behance.net/sebastianwiessner

Blessed Sunday everyone! :)