Most people (like me) think insurance is only for older people. This is the reason why I procured insurance as a parent so that if something happens to me, my kids will not be burdened by my hospitalization or post-death expenses. But what if it’s the other way around? The uncertainty we have to deal with at the moment shows that time-honored beliefs no longer apply. For one, prevalent diseases such as dengue or COVID-19 are no longer age-specific – they don’t only affect older people, certainly. We should secure our future regardless of age, because our young ones are now in as much risk as their elders when it comes to health matters.
What is enlightening is that a child’s medical needs can be costly, and with 54% of health expenses coming from the household budget , this can be a burden to many.
This is why we look with interest to the latest product of AIA Philam Life called AIA Med-Assist for children. It is a variable life insurance plan with medical benefit rider designed to address medical expenses due to hospitalization of 0-17-year olds.
Tennyson Paras, AIA Philam Life Head of Products shares the reason behind the development of this product: “We wanted a product that can give parents peace of mind in case of hospitalization. As a parent myself, I understand the additional burden that these unexpected medical expenses have on families. With AIA Med-Assist, they can simply focus on taking care of their children and recovery.”
AIA Med-Assist for children is based on the same product launched early this year, but this time with benefits available to 0-17-year olds which helps parents be one step ahead and protect their children and finances against health-related risks. It covers 90% of in-patient hospitalization and other medical expenses. “Most parents will agree that the first five years is the most vulnerable age of children. As parents, we do everything we can to ensure they are healthy and provide their needs during this critical period in their lives. But no matter how prepared we are, we can’t avoid the trips to the Emergency Room and the hospital,” Paras added. Aside from hospitalization, the product also has a life insurance benefit and an investment fund that can help parents build their own medical fund in the future.
TEA TIME WITH THE BOLZ
To introduce the availability of AIA Med-Assist to children, AIA Philam Life sought the help of its Brand Ambassadors Nico Bolzico and Solenn Heussaff, joined by Cebu-based influencers Kryz and Slater Young, in a wacky live online talk show called Tea Time with the Bolzicos. Both couples are months-old parents who are now experiencing hands-on parenting during the pandemic. In the course of their discussion on the changes in their priorities and discovering the joys of parenthood, they talked about the importance of protecting their children against risks, especially during this time when health risks abound.
“Making AIA Med-Assist available for children is another indication of our commitment to fulfill our mission of racing against risk to protect Filipino families from life’s uncertainties. We are one of the few insurance companies who make insurance products available to children, an age group whose protection needs are not given much attention. Through this product, parents are able to show their love and responsibility for their children. For us, it’s a way to bring to life our brand promise of helping Filipinos live Healthier, Longer and Better Lives,” said AIA Philam Life Chief Executive Officer Kelvin Ang.
Know more about AIA Med-Assist for children by visiting the AIA Philam Life website at philamlife.com, Facebook page at https://www.facebook.com/AIAPhilamLife/, emailing firstname.lastname@example.org or calling (02)8528-2000.