AIA Philam Life recently introduced AIA Med-Assist 0-17. A variable life insurance plan with medical benefit rider designed to address medical expenses due to hospitalization of children age 0 up to 17 years old.
The plan was explained more elaborately by AIA Philam Life Head of Products Tennyson Paras during the TEA TIME WITH THE BOLZ Live Stream Event earlier via Streamyard.
“We wanted a product that can give parents peace of mind in case of hospitalization. As a parent myself, I understand the additional burden that these unexpected medical expenses have on families. With AIA Med-Assist, they can simply focus on taking care of their children and recovery.” Paras explains the reason for the development of the new Philam Life product.
For most parents, getting medical insurance for their child rarely crosses their minds. The more pressing matter, especially for first time parents, are immediate physical needs. But the truth is, a child’s medical needs can be costly, and with 54% of health expenses coming from the household budget, this can be a burden to many.
Hosted by celebrity couple Solenn and Nico Bolzico, the tea time event earlier also featured Cebu-based influencers and first-time parents Kryz and Slater Young in the highly informative and emotionally-charged discussion about parenting and the importance of getting protected.
Both the Bolzicos and the Youngs are months-old parents who are now experiencing hands-on parenting during the pandemic. In the course of their discussion on the changes in their priorities and discovering the joys of parenthood, they talked about the importance of protecting their children against risks, especially during this time when health risks abound.
AIA Med-Assist for children is based on the same product launched early this year, but this time with benefits available to 0-17-year olds which helps parents be one step ahead and protect their children and finances against health-related risks. It covers 90% of in-patient hospitalization and other medical expenses.
“Most parents will agree that the first five years is the most vulnerable age of children. As parents, we do everything we can to ensure they are healthy and provide their needs during this critical period in their lives. But no matter how prepared we are, we can’t avoid the trips to the Emergency Room and the hospital,” Paras added.
Aside from hospitalization, the product also has a life insurance benefit and an investment fund that can help parents build their own medical fund in the future.
Also present during the event is AIA Philam Life CEO Kelvin Ang who shared the sad but inspiring reason why he’s passionate about bridging the protection gap in the Philippines.
“Making AIA Med-Assist available for children is another indication of our commitment to fulfill our mission of racing against risk to protect Filipino families from life’s uncertainties. We are one of the few insurance companies who make insurance products available to children, an age group whose protection needs are not given much attention. Through this product, parents are able to show their love and responsibility for their children. For us, it’s a way to bring to life our brand promise of helping Filipinos live Healthier, Longer and Better Lives,” Ang said in a statement.
To know more about AIA Med-Assist for children by visiting the AIA Philam Life website at www.philamlife.com or by calling (02)8528-2000.
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