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Is Dreaded Disease Insurance for you?

mjtfernandez · 1 · 1264

mjtfernandez

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on: Mar 17, 2014, 05:42 PM
Today let us look at and dissect what is a dreaded disease insurance is in GENERAL.

The prevalence of dread diseases these days has put many Filipinos in financial crisis due to health expenses. Recent statistics provide that 1 in 3 people will be diagnosed of cancer. But that is just cancer. Add the fact that heart disease, kidney disease and other diseases are getting more prevalent makes it really just sensible to get protection against dreaded diseases. Not to mention that we are living in a polluted environment.

As such, Dread Disease Benefit is one of the most valuable investments you can get for yourself as it provides the financial assistance needed to cover for medical treatment.  Recognizing the variety of critical illnesses that may strike an individual and its financial impact, you must have money when you needed it the most – when you get diagnosed of a dreaded disease.

The Dread Disease Benefits (DDB) provides a lump sum benefit up to P5M if the insured is diagnosed with any of the covered dread diseases and survives the disease for 30 days after the diagnosis or occurrence. The Dread Disease Benefit will be paid on the first contracted covered dread disease. Dreaded Disease Benefit is effective until age 70.
 
90 Day Effectivity Period
Normally,no payment on this DDB will be made for Dread Disease occurring within ninety (90) days after the Effective Date, or date of last reinstatement.

Pre-existing condition limitation
Normally, no benefit shall be provided for all conditions prior to the effective date of the DDB and

Any condition for which treatment, medication, consultation, advice, or diagnosis has been sought or received by the Insured or would have caused an ordinary prudent person to seek treatment or cure, prior to the Effective Date of this DDB, or date of its last reinstatement,

UNLESS, such pre-existing condition was disclosed by the Insured and accepted by us.

Common List of Dreaded Diseases
1. Alzheimer’s Disease / Severe Dementia
2. Angioplasty and Other Invasive Treatments for Coronary Artery Disease
3. Aplastic Anemia
4. Bacterial Meningitis
5. Benign Brain Tumor
6. Brain Surgery
7. Cancer
8. Coma
9. Coronary Artery (Bypass) Surgery
10. Deafness
11. End Stage Liver Failure
12. End Stage Lung Disease
13. Fulminant Hepatitis
14. Heart Valve Surgery
15. HIV Infection Caught at Work in an Eligible Occupation
16. HIV Infection due to Blood Transfusion
17. Kidney Failure 
18. Loss of Limbs
19. Loss of Speech
20. Major Burns (Third-Degree burns)
21. Major Organ / Bone Marrow Transplant
22. Motor Neuron Disease
       · Amyotrophic Lateral Sclerosis
       · Primary Lateral Sclerosis
       · Progressive Bulbar Palsy
       · Pseudo Bulbar Palsy
23. Multiple Sclerosis
24. Muscular Dystrophy
25. Myocardial Infarction
26. Paralysis/Paraplegia
27. Parkinson’s Disease
28. Persistent Vegetative State
29. Poliomyelitis
30. Primary Cardiomyopathy
31. Primary Pulmonary Hypertension
32. Profound Vision Loss (Blindness)
33. Stroke
34. Surgery to the Aorta
35. Terminal Illness

Angioplasty Benefit
For this disease, benefit would be advancement of 10% of the dread disease benefit, subject to a cap of Php 300,000.  Remaining 90% of the dread disease benefit will be paid upon the occurrence of the next covered dread disease other than Angioplasty, while the DDB is in force. Only one Angioplasty claim is allowed.

Return of Premiums Plus Interest
DDB provides return of 100% premiums paid plus interest which will be given upon termination of the policy by the insured. The amount returned will depend on the performance of the fund chosen and is not guaranteed.


MY POINT OF VIEW:
Everyone needs dreaded disease insurance especially now that our environment is getting more and more polluted. One needs to talk to a qualified insurance underwriter/financial advisor to get good advise on which dreaded disease insurance to get.

Please visit my blog www.mjtfernandez.com for more information on Dreaded Disease Insurance


 


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