Prepaid principle

Despite being a so-called Third World country, the Philippines has never been exempt from fast-paced developments, taking direction from its highly advanced counterparts around the world. There are so many trends that have made our lives easier today than ever before — although some may argue that technology has become our master rather than the other way around.

Mobile phones, Cable TV, and the Internet top the list of innovations that have changed our lifestyles forever. Practically all the information in the world is literally at our fingertips at any time of the day, and geographic distance has been rendered virtually meaningless, thanks to instant connectivity.

With reference to those three indispensable technologies of the 21st century, the concept of prepaid cards is a masterful stroke of genius. If you think about it, “prepaid” actually traces its roots to the very Pinoy idea of “tingi,” wherein everything from cigarettes, rice, and even perfume can be bought in small units or sachets. Obviously, this is a very favorable option for the typical Juan dela Cruz because of two noteworthy factors: affordability and convenience. The person who adopted this concept of “tingi” and elevated it to prepaid cards essentially revolutionized entire business models and industries.

Practicality matters a lot during these difficult times, when most of us find it harder and harder to make both ends meet. Priority of course is for the family to have food on the table, as well as other basic needs such as clothing, shelter and education. This mainly explains why prepaid cards for various services sell faster than hotcakes. One has the option to purchase prepaid cards for whatever denomination he or she chooses, and only in the amount they can afford. If postpaid plans benefit the more affluent, the prepaid alternative is easier on the masses’ pockets.

The best example of this, of course, are prepaid landline and mobile phone cards. These are the ultimate answers for the prudent end-user, particularly those who have to get in touch with their loved ones in the provinces and abroad. They can make domestic and overseas calls without having to dig deep into their pockets, since using the card is far better than incurring higher rates through operator-assisted calls. Prepaid internet cards are also advantageous for communication purposes apart from entertainment, recreation, and research, since there’s e-mail, internet phone, and online chat terminals.

Convenience is another plus point to bear in mind. With prepaid cards, there is no need to worry about filling out various forms, submitting numerous requirements, and receiving monthly billing statements later on. Anytime of the day, one can just purchase a card when the need arises, or stock up a few for future use. By forecasting the standard amounts usually consumed, a modicum of self-control can be exercised. Moreover, there is no problem with regard to the availability of these cards: they can be purchased from a near limitless amount of outlets, from shopping malls, convenience stores, sari-sari stores, and so on.

Fortunately, these two factors are no longer limited to technological services. Nowadays, the same prepaid principle will touch the aspect of local health care as well. Many of us are bothered with the possibility that we might not have enough to shell out in case of an emergency, particularly when the situation requires special and immediate attention. This precise concern has now been addressed by Paramount Life Insurance through its new offering, the Prepaid ER Card. This Card is the result of a recent tie-up between Paramount and MedAsia Philippines, the company in charge of hospital accreditation. Being the first to be introduced to the local market, the ER card once again exemplifies utmost convenience and value-for-money.

There’s a saying that goes “insurance is never bought, it is always sold.” This rings true for many, precisely because terms such as “face amount,” “vanishing premium,” “double indemnity” and such, need to be explained. In addition, there is a considerable amount of paperwork to be filled out, which may even include medical check-ups, treadmill tests, and the like.  

In contrast, nothing could be more simple than the Prepaid ER Card. Basically, you buy a card for only P350, and you are covered up to a maximum of P5,000 worth of emergency room expenses for one year. Moreover, the cardholder can avail of up to three  cards within a year, extending its validity as the need may arise.

This sounds like a great idea for the occasional job-related risk increase (travel, hazardous terrain, etc.), or even as a standard issue to field employees or weekend athletes. After all, not everyone can play sports on a professional level, but it’s good to know that if anyone gets injured in a “liga” (i.e. organized amateur league), the responsible team manager or coach can provide the entire roster with a Paramount ER Card for the same cost as a spare jersey.

I’m not sure of its widespread availability right now, but they can already be bought at Paramount Life offices. I understand they are already available (and selling well, I am told) at the business centers of some major shopping malls, as well as some money transfer outlets.

There are just some things in life that fall into the category of “better to have it and not need it, than to need it and not have it.” The Paramount ER Card is a perfect example of this truism. It’s certainly a welcome addition in my wallet.

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