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Health care industry

Manulife Philippines Launches Medical Secure, a Standalone Health Insurance Plan

Strategic Insights

— 1 min read

Manulife Philippines, in collaboration with Manulife China Bank Life Assurance Corp. (MCBL), has introduced Medical Secure, a health insurance plan designed to provide extensive medical care with coverage limits of up to PHP 5 million. The plan aims to address the rising healthcare costs and medical inflation concerns of Filipinos, as revealed in the 2024 Manulife Asia Care Survey. The survey found that 82% of respondents in the Philippines identified rising healthcare costs as their primary financial concern, and 59% expressed worry about hospitalization expenses.

Key Takeaways:

  • Medical Secure offers cashless treatment through a countrywide network of over 1,700 hospitals/clinics and 17,000 affiliated doctors nationwide, allowing customers to access quality healthcare without financial burden.
  • The plan provides flexible annual benefit limits of PHP 1 million, 2.5 million, and 5 million, complementing existing HMO coverages and offering comprehensive coverage for in-patient hospital confinement, emergency care, special procedures, and outpatient treatment.
  • Medical Secure includes free annual check-ups, 24/7 telemedicine consultations, and life insurance protection equivalent to 10% of the Annual Benefit Limit in case of death, providing holistic financial protection.
  • The product is guaranteed renewable until age 75 with no medical examination required upon renewal, as long as renewal premiums are paid on time.
  • Medical Secure is designed to work alongside PhilHealth and any existing HMO coverage, offering a convenient and cost-effective plan for managing medical expenses.

Statistics:

  • 82% of respondents in the Philippines identified rising healthcare costs as their primary financial concern (2024 Manulife Asia Care Survey).
  • 59% of respondents expressed worry about hospitalization expenses (2024 Manulife Asia Care Survey).
  • Medical Secure provides cashless treatment through ValuCare's network of over 1,700 hospitals/clinics and 17,000 affiliated doctors nationwide.
  • The plan offers flexible annual benefit limits of PHP 1 million, 2.5 million, and 5 million.
  • Medical Secure includes life insurance protection equivalent to 10% of the Annual Benefit Limit in case of death.

Sources:

  • 2024 Manulife Asia Care Survey (no date provided)
  • Manulife Philippines and Manulife China Bank Life Assurance Corp. joint statement (no date provided)

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