Bad Habits that Hinder Us From Living a Brighter Life


Finance, money talks and planning for the future seem to be a topic that us Filipinos don't like talking about. It's like the pink elephant in the room suddenly makes an appearance and we get uncomfortable facing the reality of life. The result, only a few Filipinos actually invest in a sound company that offers health and life insurance. 

           (Image taken from google.) 

Let's Talk About Health 

Let's face it - we only think about our current state of health when we get sick. Have you looked at your lifestyle? Your eating habits? If there's one truth that we have to admit, health expenses accrue at birth and it is important that we have something saved or invested that would help us with said expenses.

We haven't even discussed the current Health Care system in the country yet. There are only 1857 hospitals in the country and there are only 12 beds per 10,000 patients, 1 physician per 1,000 patients and only P10,000 pesos will be subsidized by the government. 

This is a glaring reality we must all accept. It is up to us to protect ourselves and our loved ones. 

Guilty As Charged 

I am one of those people who failed to get insured the moment I could afford it. So when my Dad suffered a heart attack and had to undergo angioplasty - we were lost. We didn't know how to fund the expenses that reached millions of pesos in total. 

According to Aya Laraya at the 4th session of our #Money4Life Financial Literacy Workshop, this is how we actually get funds to pay for hospitalization:

20% Spouse Income
14% children
10% PhilHealth 
5% own savings
2% HMO
2% own investment 

Ding! Ding! Ding! We actually relied on some of these. We had to pool our savings but what he didn't mention was that we also had to seek help from our Local Government Officials and PCSO. Imagine how shameful it can be to ask others for money just because we didn't take it upon ourselves to secure the future. 

Needless to say, we are still deep in debt and are still paying some of the money that we owe. We had to make a total lifestyle adjustment. It was difficult to face and I know, things will never be the same again. 

Our Bad Habits 

At the latest session, we took a close look at some of the habits that hinder us from getting insured. Aside from not being open to discuss our finances with our family much more with Financial Advisors, here are some of the reasons and if we can, we must get rid of:

Refusal to talk about it 
Breaking the rules - taking short cuts, always finding a way to evade the law. 
Withdrawing money we don't really own - credit card expenses
We find it depressing talking about finances, health even death - we refuse to acknowledge the realities of life. 

But in my opinion, it is mostly the lack of knowledge and our refusal to ask about it that hinders us from getting insured. 

To give you a little idea about what Health and Life Insurance is- 

Health insurance is a type of insurance coverage  that covers the cost of an insuredindividual's medical and surgical expenses. Depending on the type of health insurancecoverage, either the insured pays costs out-of-pocket and is then reimbursed, or the insurer makes payments directly to the provider. (taken from google) 

In short, an insurance is a form of protection for what could happen in the future. It is your investment for a worry-free now and assured tomorrow. 

Choosing A Health Plan 

There are some things that you need to consider when you decide to get a health plan for you and your family. 

1. Check up - know your current state of health. 

2. Know What You need

3. Budget - assess what you can afford to shell out monthly, quarterly or weekly. By doing so, you will know that you will be able to keep your payments.

4. Shopping - look around, research. There are a lof of companies that offer affordable plans/insurance like SUN LIFE .

5. Read the Fine Print - know what your getting into. 

6. Finally - BUY.

You must always keep in mind that getting sick means huge amounts of money that you can't afford to lose, aside from a healthy lifestyle, you should invest in an affordable yet comprehensive health and life insurance. 

The Solution 

Start now. This is something that I realized. If you find yourself in deep financial and health troubles, you will see how important it is to invest. Always have a back-up plan. 

Follow the Steps in Choosing A Life Plan:

1. Talk to your family 
2. Determine how much you can afford
3. Shop around
4. Determine your needs
5. Read the fine print. Read everything you sign.
6. Buy/Invest 

Make sure that your plan will evolve alongside your life. Make a commitment and keep it. 

Live a brighter life with SUN LIFE 

Rolled Into One Mom

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