Resilience as a lifeline against illnesses
Some people say that one of the best measures of wealth and financial stability is revealed during life’s most challenging moments – when you, or a loved one, is struck by a critical illness. For families unprepared financially, the journey through a life-threatening disease often comes with a heavy impact on finances, and usually with the burden of debt, as the costs of quality treatment and healthcare are dauntingly high.
The reality is harsh: getting sick is neither easy, pleasant, nor cheap.
As a health and wellness advocate, I dedicate my platforms in radio, print, broadcast, and digital media to helping my audience stay informed about ways to maintain their health. But as much as we try to live a healthy lifestyle, some illnesses are simply unavoidable. This is why financial resilience is just as crucial as physical wellness.
Preparing for the unpredictable does not just mean safeguarding your health; it also means protecting you and your family’s financial future.
The burden of illness, and why financial preparedness matters
Critical illnesses are not just physical battles, they are financial ones too. Treatments for life-threatening diseases can range from hundreds of thousands to millions of pesos, leaving families scrambling to secure funds, unfortunately during an already emotionally taxing time.
Without proper financial preparation, many are forced to drain their savings, sell assets, or take out loans, which can jeopardize long-term financial goals. This underscores the importance of financial products that offer protection against these unforeseen events.
To help Filipinos better prepare for life’s uncertainties, financial security is a must. It does not sound easy, but some organizations continue to innovate to address these needs, and now more than ever we find more and more options that are truly worth our consideration.
Insular Life (InLife), the country’s first and largest Filipino life insurance company, recently introduced Resilience, a limited-pay whole life critical illness plan. Designed to provide policyholders with financial security during our most vulnerable moments, Resilience addresses critical health challenges with guaranteed benefits upon diagnosis of a covered illness.
Taking a closer look, I was pleased to find that Resilience also comes in with more tailored variants to meet unique needs.
Resilience can cover more than 80 major and almost 40 minor critical illnesses, from which a policyholder can claim up to two minor illness benefits, each equivalent to 25% of the sum insured.
It also has a particular focus on the three leading critical illnesses among Filipinos: cancer, heart attack, and stroke. A few of our most recent columns touched on the many ways we, as a community, are rising to fight these conditions. To learn more about how to protect yourself, or the many ways our healthcare experts are innovating against non-communicable diseases, check those out!
For us women, the plan also offers coverage for the nine specific types of cancers that can affect us, including breast, ovarian, and cervical cancers. More innovative features further distinguish Resilience for me, from the Late-Stage Cancer benefit, to the Buy-Back benefit, these are significant add-ons that can help us face repeated health challenges with more financial confidence.
Financial resilience becomes unwavering confidence
The importance of financial tools becomes evident in stories like that of Barbette Soliven, a long-time policyholder who was diagnosed with stage one endometrial cancer three years ago.
Through her InLife plan, Soliven received her benefits promptly, allowing her and her husband to focus on her recovery instead of financial worries. Reflecting on her experience, she emphasized the importance of being prepared, encouraging us to not wait for the need to arise before we see the importance of financial tools.
Her story is a good reminder of how Resilience and other financial products succeed in offering us peace of mind during trying times.
As we continue our journey as an advocate of women empowerment, as well as of health and wellness, it’s worth noting the stark reality: breast cancer remains one of the most prevalent cancers among Filipinas, with over 33,000 new cases reported in 2022, according to the World Health Organization. According to one lawmaker, it is also the third most fatal type among women.
Resilience Female Cancers provides critical support for women diagnosed with breast cancer and eight other types of cancers. This comprehensive coverage helps to ensure that patients can focus on recovery, not on how to finance their treatments.
Building a culture of financial resilience
Illness is unpredictable, but its financial impact doesn’t have to be. By prioritizing financial resilience, families can weather these storms with greater ease and dignity. We cannot predict when it will strike but we can prepare for it.
Through our awareness of financial tools and solutions, we empower our family members, loved ones, friends, and the members of our communities to rise above life’s challenges, and provide each other a foundation of security and hope. As we move forward, I hope we can work together to cultivate a culture that values financial preparedness as much as we hold our physical health dear. After all, resilience, is not just about surviving – it is about thriving.
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