Sun First Aid Plus

Sun First Aid Plus is a hospital income product from Sun Life of Canada (Phils.) Inc.  This product matures at the end of 10 years and provides the following benefits:
  
   1. Hospitalization benefits which include:
       a. Daily hospital income of 3000 pesos provided you are confined for a minimum of 3 days and maximum of 90 days per admission.  You can claim up to 180 days per year for sickness and 365 days per year for injury.
       b. Long term hospital income which is an additional 3000 pesos per day if you are hospitalized for more than 30 days and maximum of 60 days per admission.  You can claim up to 180 days per year for sickness and 365 days for injury.
       c. Intensive care unit income which is an additional 3000 pesos per day if  you are confined in an intensive care unit.
       d. Surgical expense benefit which is an additional benefit of up to 30,000 pesos per year in the event that a surgical operation is performed.
  
   2. Protection Benefit which includes the following:
       a.  Life coverage which is equal to the total of original annual premiums paid.  The original annual premium referred here is the annual premium at policy effective date.
       b.  Accidental death benefit which is the same as life coverage benefit.
       c.  Total disability benefit - the premiums are waived once the policy holder becomes totally and permanently disabled.
    
   3. Return of premiums which is equal to 50% of the original annual premium payable at the policy maturity date.

There is a waiting period of 30 days from the date the policy take effect before the benefit is payable for any hospital confinement due to sickness however, for  confinement due to injuries caused by accidents, this waiting period does not apply.

As of this writing, the annual premium for this product is 24,900 pesos and the paying period is 10 years.

The good thing I like about this product is that you can be confined in any hospital of your choice.

The downside is that, this policy is only effective for 10 years and you have to pay first for your hospital expenses since you can claim for the benefits after getting the required documents from the hospital.

This product was offered to me by Sun Life of Canada (Phils) Inc. when I inquired for their health insurance policy.  You can check their website for more information on their products.