Your Finance Page

I for one know the importance of having a plan with a reputable HMO. I have had to see a doctor, or rush to the emergency room in one of the country's best hospitals, and I have not had to worry about spending my cash to cover the medical bills.

I guess I am fortunate enough to be employed in a company that provides whole life insurance, and medical plan for it's employees. Because of this, I need not shell out any money for doctor's fees and hospital fees.

This benefit has also been greatly felt at home. My employer even provides for me to include two dependents for the health card. Since I am not yet married, and have no children, I am able to get coverage for my mother. Soon, my dad will also be included as a dependent.

Having a comprehensive health plan is one of the reasons that keeps me from leaving work and venturing into a business of my own. I am not sure I can fully cover the costs to continue paying for my own HMO coverage, much less insure my parents. This definitely is going to be a major consideration.

I guess if we look hard enough, we're bound to find more affordable yet comprehensive whole life insurance plans that may even include provisions for medical coverage. I remember one being offered to me a few years back. At the time though, I felt that I had no need for one. I wasn't really sickly - at least not with anything that constantly required a doctor's attention. But these days, it's better to be safe and better see medical professionals for timely treatment.

Apart from the HMO coverage I get courtesy of work, my parents also strongly advised me to purchase a whole life insurance package. This was about five years ago and I have already paid it in full. At least, whatever happens to me, I can leave something for my family. It's not a fortune, but it's no small amount either. I can also receive the insurance amount as pension when I reach a certain age.

Now, I highly recommend getting whole life insurance or pension plans to my friends. It's never too early to invest in your future. Besides, there are plans out there where you will hardly notice that you're paying for something. Yet it allows you to save up, and it will earn interest that no savings account in a bank can ever offer you.