4 Affordable Insurance Types Every Filipino Should Consider Having

Having insurance doesn't have to be expensive

Life is a rollercoaster ride and no one can truly predict what the future brings. But one thing that we can do now to lessen the financial burden caused by unforeseen circumstances -- such as accidents, illnesses, or even death -- is to have an Insurance.

Many Filipinos are still not open on the idea of insurance. With the growing expenses and inflation, spending on something that you may not be able to use seems to be a waste of money. But what people don’t see is that Insurance is Protection, Insurance is Investment.

True to the promise of being the Tulay of PaMLyang Pilipino, M Lhuillier, the Philippines’ largest and most respected non-bank financial institution, offers reliable and affordable Insurance Plans for as low as Php5 -- allowing more Filipinos to secure their future. In order to provide various life and non-life insurance products, M Lhuillier General Insurance Agency partnered with reputable institutions such as:

AIA Philippines
Paramount Life & General Insurance Corp.
MAA General Assurance Philippines, Inc.
PhilLife Financials

M Lhuillier offers the following insurance products which can be availed at any of the 3,000+ branches nationwide:

Medical Insurance

Out of the all the insurance types listed here, Medical Insurance is the most important and, ideally, every Filipino should have. This ranges from virtual medical assistance, emergency treatment, medical reimbursement, to personal accidents.

§ Virtual Medical Assistance – For only Php250, Mediphone guarantees 24/7 unlimited digital consultation (phone, chat, app) valid for 1 year, plus up to Php25,000 personal accident insurance coverage

§ Emergency Room Insurance – ER Guard covers up to Php20,000 for outpatient Emergency treatment & care which includes physician’s services, Emergency Room fees, medicines, medical supplies, and laboratory fees incurred during the initial treatment. ER Guard Plus covers up to Php50,000 and includes in-patient care aside from the emergency treatments

§ Medical Reimbursement – Currently, M Lhuillier offers Dengue RX which allows reimbursement of hospital expenses due to Dengue amounting up to Php30,000/Php60,000. This also includes personal accident coverage of up to Php10,000

§ Personal Accident Insurance – There are 5 insurance plans to choose from which vary on the amount, coverage, and terms: Pawners Protect, Kwarta Padala Protect, Family Protect, Pinoy Protect Plus, and Family Protect Plus. For only Php5 to Php99, all these plans cover accidental death, disablement/dismemberment, and motorcycling accidents from Php20,000 to Php30,000. Some offer burial assistance, cash assistance, educational assistance, and/or fire assistance

CTPL (Compulsory Third Party Liability) Insurance

Planning to have a motorcycle or car? You need a Compulsory Third Party Liability (CTPL) Insurance. From the name itself, this insurance policy is compulsory/required before your vehicle can be registered. Although this does not protect the vehicle nor the owner of the vehicle, this can still safeguard you financially in case of a third party accident involving your vehicle. M Lhuillier offers this product ranging from annual premium of Php296 for motorcycle to Php1,246 for heavy vehicles.

Global Travel Protect Insurance

For frequent travelers whether domestic or international, consider having a travel insurance. Paramount GTP Premium is the first in the Philippines to offer comprehensive cashless travel insurance package. Available in Individual, Family, and Group Plan.

OFW Balik Manggagawa Insurance

As mandated by Republic Act (RA) 10022, also known as Migrant Workers and Overseas Filipinos Act of 1995, all agency hired workers should be covered by a compulsory insurance policy. Similarly, returning Overseas Filipino Workers (OFW) or Balik Manggagawa not yet registered should submit a Certificate of Insurance. This insurance policy can also be availed from your nearest M Lhuillier branch.

While riding the ups and downs of life, let us not forget to secure our future. Insurance will not prevent undesirable events to happen but it will provide peace of mind knowing that you and your family are protected. Find the best insurance product that suits you. Visit M Lhuillier Insurance for more details!