In the hustle and bustle of young adulthood, we might often overlook the importance of having insurance. However, planning and securing your future while you're young can be a game-changer for you!
While it seems to be tomorrow’s worry, having insurance while you’re still young has its own advantages. AIA Philippines is here to give you reasons why insurance at a young age is a smart move.
1. The younger you are, the lower your premiums:
One of the biggest advantages of getting insurance while you're young and healthy is the lower premiums. How does this work? Like other insurance plans, we’re also factoring in the age of the insurer when calculating the premiums. In other words, the younger you are, the lower your premiums will be!
2. Lock in Good Health:
As we grow old, our health risks increase, which can lead to higher insurance premiums. By securing insurance early, you can lock in lower premiums while you're still in good health, potentially saving thousands over the years.
3. Coverage for Medical Expenses:
Health insurance plays a BIG role when it comes to financial planning, helping to cover medical expenses from routine check-ups to emergency care and unexpected illnesses. Without adequate coverage, medical bills can quickly spiral out of control, putting a strain on your finances. Having insurance at an early stage can help you secure not only yourself but also your hard-earned money!
4. Recovery Benefits:
Disability insurance provides a safety net if you're unable to work due to injury or illness. It offers recovery benefit to cover living expenses and medical bills during your recovery period, ensuring financial stability during challenging times. With AIA Critical Protect 100’s Recovery Benefit ¹, you can receive 5 yearly recovery cash payouts, each amounting to 10% of your main coverage.
For example, John (age 32, non-smoker) purchased AIA Critical Protect 100 with 1M coverage benefit for an annual premium budget of P36,017 or approximately P98.68 per day for 20 years. Because of Recovery Benefit rider ¹, John can get an annual cash benefit of P100,000 (10% of his main coverage) for the next 5 years. This will take effect a year after a Major Critical Illness claim. *
*Insured must be alive and present a proof of life (e.g., medical certificate) to claim his Recovery Benefit.
5. Long-Term Financial Planning:
Investing in insurance while young lays the foundation for long-term financial planning. It allows you to build a solid financial portfolio that includes protection against life's uncertainties, ensuring a secure future for yourself and for your loved ones.
In conclusion, securing insurance while you're young is a wise investment in your financial well-being. It provides peace of mind, lower premiums, and essential coverage for life's milestones, while also safeguarding your loved ones and setting the stage for long-term financial success. Don't wait until it's too late— take the necessary steps to protect yourself and your future today! Take the first step towards a healthier, longer, and better life by filling out the form below!
**Disclaimer: All names and characters portrayed in this article are fictitious.
[1] This is optional rider for ACP100 plan.
