Kaiser ultimate health builder is a 3-in-1 plus 1 account that will immediately help you to have a solid financial foundation.
Why? Here’s the reason:
1. LONG_TERM_HEALTH_CARE that covers you beyond age 60.
2. INCOME_PROTECTION (LIFE INSURANCE). Anything happens to you, the plan is considered paid and your beneficiary will get the money.
3. INVESTMENT (MUTUAL FUNDS). Nothing happens to you, you get your investment back plus interest.
4. You can use this as EMERGENCY_FUND.
Bago natin idiscuss ito in full details, Let’s discuss first the very important financial concept that you need to understand, the solid financial foundation. Sa financial pala, may sinusunod din na foundation para matibay ang structure. Parang magtatayo ka ng bahay, kelangan matibay ang pundasyon.
First, proper HEALTH CARE coverage, we have two type of healthcare – short term and long term. Madalas familiar lang tayo sa short term, eto yung benefits na binibigay ang employer natin, ang problema, pag nag-resign ka, dala mo ba yan? Hindi na. So you need long term healthcare. Kelan ka ba nagkakasakit? Bata o matanda? Syempre matanda ka, kaya kailangan my long term healthcare ka din para kahit beyond 60 years ka na covered ka pa din. You need healthcare fun, especially during old age kase pag nagkasakit ka, saan ka kukuha pambayad mo ng hospital bills? Serious health problem or sickness can wipe out all your investments.
Second, PROTECTION OR LIFE INSURANCE in the event of premature death. If you are a bread winner ginagawa mo ‘to para sa family mo hindi para sa’yo. If something happen to you, your family have instant money to pay off any responsibilities left behind. If you love your family, you have to protect yourself. Term life insurance ang need mo, mas mura pag term at mas malaki ang coverage mo.
Third, ELIMINATE YOUR DEBTS pay off all your bad debts, lalo na kung credit cards kasi mas malaki ang interest.
Fourth, EMERGENCY FUND set aside 3-6 months of your income. Kung salary mo ay P20,000.00 a month at least may emergency fund ka na P60,000.00. Yan ang laman ng ATM or savings account mo, para in case of emergency, may instant money kang pwedeng magamit.
Fifth, save and build long-term INVESTMENTS.
Ang pinaka foundation ay INCREASE YOUR CASH FLOW. Magandang may investment, emergency fund, protection at may healthcare ka, pero kung wala kang panlagay, di mo mabbuild ang financial foundation mo. To increase you cash flow, you need to reduce your expense and increase your income. Sabi nga, like building a house, you must build it from the ground up, build it right, build it strong.
Now, let’s discuss in full details the Kaiser Ultimate Health Builder Plan 3 in 1 + 1.
Who will provide your healthcare during retirement years? Kaiser international Health Group Inc. a health maintenance organization company. Duly accredited with the Department of Health, Bureau of Health Facilities and Services, this company is likewise registered with the Securities and Exchange Commission on June 08, 2004 as healthcare provider with an Authorized Capital Stock of P160M. Kaiser’s board of directors are seasoned experts in the medical field services and in the health care industry with its President and Medical Director Dr. Ramon B. Abragan Jr. a former DOH Head Executive Assistant, a former Consultant to the DOH Secretary and a former member of Medical Board of Examiner of PRC.
Ang Kaiser ay 20 year-saving plan, pero 7 years ka lang magbabayad. EXAMPLE: Let’s take Plan K-100. K-100,000 = annual installment amount P58,821.43 for K-100, and a contract price is 411,750.00Annual instalment P58, 821.43 X 7 years = P411, 750.00 Let us discuss the benefits, during the first 7 years sa paying period.
1. May Annual Physical Exam benefit ka.
2. Dental Health Benefit ka, like once a year free oral prophylaxis unlimited simple tooth extraction, temporary filling.
3. In-patient Benefits. During 1st year to 7th year ang covered ay hospitalization or in-patient benefits only.
4. For K-100 Plan na sample natin ang member ay merong ABL or Annual Benefit Limit na P60,000.00/ year.
5. Long term Care Bonus. Ano ba yung long term care bonus? If no claim was made during the paying period, 85% of premium fund will be given back at the end of the 20th year. Example sa Plan K100, contract price is P411, 750.00 so 85% of that is P350,000.00 if di mo nagamit in-patient benefit mo during the first 7 years, ibabalik sayo yung P350,000.00.
6. Waiver of instalment, due to debt or credit line. If the Policy Owner die during the paying period the balance of premiums is waived. Rendering the plan, fully paid. For example nabayadan nan g policy owner yung first annual instalment amount nya P58,821.43. On the second year policy owner dies her plan will be transferred to her benfeciary fully paid, P411, 750.00 contract price minus payment made na P58,821.43 which is equal to P352, 928.57 yung balance ng premiums na P352, 928.57 waived na.
7. Waiver of instalment and Premium due to total and permanent disability. If the policy owner becomes totally and permanently disabled for a period of at least 6 months during the paying period all succeeding payments will be waived.
8. Term Life insurance Coverage. For 20 years insured ang policy holder. The beneficiary will receive equal to the sum of amount of the long term benefit and the long term care bonus. In our example Plan K-100, long term benefit is P100,000.0 plus long term care bonus na P350,000.00 equals P450,000.00.
9. Accidental Death and Dismemberment. If policy holder dies through accident times two and insurance coverage nya. So kung P450,000.0 ang coverage magiging P900,000.00 ang insurance coverage.
10. Family Assistance Service. Policy should be in active status and plan should have completed for at least 1 year payment. Nominated patient must be an immediate family member of the policy holder or within the first degree of consanguinity.
Policy holder agrees to avail the services of Kaiser accredited Doctors and affiliated network of hospitals. Assistance to be provided by Kaiser shall only be to the extent of allowable benefits due to the plan holder under his policy. Prior to discharge of nominated patient, payment should have been settled with Kaiser. If plan holder requested to pay or opted to pay on a term is case to case basis and subject to Kaiser approval.
Please note that this assistance is an accommodation and not considered a benefit of the plan. Hence approval and denial (10:15) solely depends on Kaiser management evaluation. Let’s discuss now the extendend period – 8th year to the 20th year. Ano nga ba yung benefits mo, during the extended period?
1. You have 10% Annual Health Benefit. Sa sample natin na K-100 or K-100,000, 10% of P100,000.00 is P10K a year kaya makikita nyo from 8th year to 20th year may P10K a year na health benefit amg Policy holder. Kapag di nagagamit ang annual benefit, naga-accumulate lang ang balance earning 10% per year. Kaya yung P10K on the 8th year, kapag hindi nagamit plus 10% magiging P11K plus 10% ule on the 9th year kaya magiging P21K then times 10% ule yung P21K, kikita ng P2,100.00 kaya magiging P23,100.00 plus P10,000.00, P33,100.00 ang balance at the end of 10th year and so on.
2. Additional Health Benefit. On top of annual health benefit sa taas meron ka ding additional health benefit eto yung dividend mo kase ang binayad mo sa Kaiser ay nakainvest . On the 2nd year nagstart na tumakbo ang investment part ng Kaiser plan mo, kaya on the 8th year sa sample natin, meron kang additional health benefit na P32,981.00 and additional health benefit mo ay depende sa market . Rate of return ranges from 3% – 13% .
3. Long term care benefit. Kahit magamit mo lahat ng benefits mo from first year to 20th year meron ka paring mare-receive na long term care benefit. This is equivalent to your plan. In our example K-100 or K-100,000 kaya P100,000.00 ang long term care benefit.
4. Long term bonus. Pag hindi mo nagamit ang in-patient benefits mo during paying period, ibabalik ang 85% ng binayad mo. In our example Plan K-100 contract price is P411, 750.00 X 85% so ang long term care bonus nya is equal to P350,000.00.
Your benefit limit is based on the balance of your health fund. Your health fund balance is equal to Annuanl Health Benefit plus additional Health Benefit. For example the 9th year ang fund na pwede mong gamitin is P69,072.00. Annual Health Benefit of P21,000.00 plus Additional Health Benefit na P48,072.00. On maturity date – that is the end of the 20th year – all your benefit is converted to cash.
In Our example Total accumulated benefits with bonus is P1,166, 169.00 this is sum of Total Accumulated health benefit of P269,750.00 , yung P269,750.00 yan yung nag-accumulate mula 8th year to 20th year with 10% rate of return plus long term care banefit of P100,000.00 plus long term care bonus of P350,000.00 plus additional Health benefits of P446, 419.00. The P1,166, 169.00 includes bonus kung di mo nagamit in-patient benfits mo during the paying period kasama yung bonus na P350,000.00.
Meron kang 3 Options kang pagpipilian.
Option 1. I-convert sa cash yung P1,166, 169.00 meaning pwede mo ng kunin.
Option 2. Hindi mo wi-withdraw-hin, retain mo lang yung P1,166, 169.00, kung ni-retain mo balance, tuluy – tuloy pa din health benefits mo, kahit beyond 60years old ka na. Tuluy- tuloy pa rin na kikita ang balance ng fund mo ng 10% per year. Kaya sa sample natin at the age of 60 may fund balance na sya na P6,483,800.00 at ang 10% non ay P648,380 at age of 65 balance ng fund nya is P10,442,224, ang 10% nun ay P1,044,222.40 yan ang tinatawag na “living on interest” – “money working for you” kase interes palang ng fund mo pwede nang sumagot ng health expenses mo.
Option 3. Pwede naman yung kalahati ng P1,166, 169.00, withdraw mo. Kalahati retain mo, para may health fund ka pa rin kahit beyond 60y/o ka na. Kaiser is one of our recommended products kase maso-solve nito initially ang foundation mo. Sa Kaiser may investment part, and starting on the 8th yr may fund ka nan a kumikita ng 10% or more.
In case of emergency may family assistance na pwede mong pa-approve sa Kaiser kung may card ka. For 20years may health insurance ka, may health card ka na magagamit for 20years and even beyond 60years old ka na.
Like building a house, you must build it from the ground up, build it right.