MANILA, Philippines — Manufacturers Life Insurance Co. Philippines Inc. (Manulife) has launched a health insurance product which allows policyholders to enhance their benefits and select their preferred critical illness protection.
Introduced as HealthFlex, Manulife’s new life and health insurance solution was designed to protect customers from critical illnesses, while providing them flexibility in choosing their plan.
“Manulife developed HealthFlex to cover critical illnesses that we found are top-of-mind for Filipinos. In addition to their high occurrence in the population, these critical illnesses are also among the most expensive to treat,” Manulife president and chief executive officer Richard Bates said.
With HealthFlex, customers from age zero to 70 can be provided with insurance coverage.
Manulife said customers can choose among four packages to determine which types of illness they would like to be covered by the plan’s advance critical illness benefit.
These are cancer only; cancer, heart attack, and stroke; cancer plus other elderly and critical illnesses; or cancer, heart attack, stroke plus other elderly and critical illnesses.
Manulife said HealthFlex holders may also receive guaranteed death or maturity benefits, and long life bonus in the form of dividends.
Premiums will be waived if the insured is diagnosed with a covered early stage or advanced critical illness.