Saturday, September 28, 2013

Preparing for Emergencies

Fix the roof while the sun is shining!

Something struck me when I came across a post in the social networking site that a friend was confined in a hospital because of a serious illness. It’s good though that my friend has a medical card provided by the company that she can use at times like these.

I know I should not solely rely on office health cards because they are just temporary. Lucky for us our companies offer great medical benefits as long as we are working for them. I think an employee should also look into that company benefit when accepting employment offers.

Temporarily, we hold on to our medical cards as a source of our hospitalization fund but in the long run we have to have a lifetime hospitalization cushion especially that the illnesses will be there during our sunset days.

Paul and I already prepared for this event by investing our money on a long term health care called Kaiser. The company name is Kaiser International Healthgroup that operates here in the Philippines. The idea is, you save for your future medical needs today and relax in the future. The setup works fine for us since we really have to prepare for those inevitable events.

The setup goes this way. We paid up the policy for 5 years [we are both done now.] Then we wait for 10 years before we can en-cash the policy face value. Yep there is an option to en-cash the policy face value. But if we don’t like to then the company will continue to manage our money and compound it every year. We can also en-cash some amount from the fund without the company asking for particulars. Meaning we can use it for travel, house repair or anything we would like to in the future. Sounds good isn’t it? J

I highly encourage everyone to do the same. It doesn’t matter what company you choose to invest, as long as you’ve done background check. And don’t wait till you are ready. You will never be ready. Just fill up the forms and invest. Time is of the essence.

Happy investing. ^_^

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