Short Term Healthcare TRADITIONAL HMO |
Long Term Healthcare HEALTH SAVINGS ACCOUNT |
Renewal not guaranteed if with high claims |
Renewal is guaranteed |
Yearly increase of premium |
Fixed premiums for 7 years |
Generally, no insurance coverage some provide insurance, but very low coverage |
With Four (4) Way Insurance Coverage up to the Long Term healthcare Plan:
- Term Life
- Accidental Death and Dismemberment
- Waiver of Installment due to death
- Waiver of Installment due to Permanent and Total Disability
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No accumulation of unused health fund |
All unused health fund accumulates with interest |
No return of premiums (ROP) for non-utilization |
With returns of premiums up to the contract price for non-utilization during the paying period |
Covers only up to age 60 |
Covers beyond age 60 with long term care yields * |
Pre-existing illness is not covered during the 1st year and lifetime / permanent exclusions may be issued on the 2nd year onwards |
Pre-existing is not covered during accumulation period. No exclusions after the 7th year of coverage * |
Inflexible, non-transferable benefit design |
Flexible, transferable, and may be redated benefit design |
Reinstallment is limited only within 30 days of lapsed policy |
Reinstallment within 2 years of lapsed policy |
Access to non-accredited physicians and medical network is not covered |
Access to non-accredited physicians and medical network is covered after the 7th year |
Out-patient medicines and cosmetic treatments not covered |
Out-patient medicines and all illness including cosmetic and maternity are covered after the 7th year * |
Continuous yearly payment terms |
Seven (7) years or spot-cash payment options |
Anxious, worrisome and insecure healthcare status after employment or during retirement years |
No worries... |
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