What’s the difference?

Do you enjoy health insurance benefits through your employer's HMO (health maintenance organization)? That's awesome, especially if the card covers a dependent like your parents. However, company HMOs may have limited coverage depending on your company designation and it is tied to your current company. When you leave, your HMO benefit goes as well.

So, what's a young professional like you to do?

The most prudent action is to supplement your protection through insurance with health coverage. Read on to see how Life Insurance can make your protection more robust.

HMO
It works by charging your hospital bill against a yearly amount set by your HMO. HMO benefit availability is limited across their network of doctors and hospitals.

Insurance
Upon diagnosis of an illness defined in the policy, you will be given a cash lump sum so you can choose your own health care facility or doctor.

HMO
You are usually covered until age 65.

Insurance
Most policies will cover you until age 75 and some can even offer coverage until age 100.

HMO
Your room is covered and its type is dependent on the provision of your HMO.

Insurance
Depending on your plan, cash is provided on a daily basis to offset income loss due to hospitalization.

HMO
Your HMO is annually renewed so your premium may change annually too as you age or based on your history of availing your HMO benefits.

Insurance
Your premium is decided upon when you avail of a plan and is fixed throughout its life.

Of course–while we do not wish it–in case something happens to you, your life insurance policy will pay out a cash benefit to your beneficiary to help them recover financially.

Thinking of expanding your personal HMO coverage? Head on over to MediCard Philippines, one of the leading HMO companies in the country and now part of AIA Philippines’ family.