Oona Insurance recently has introduced its Critical Illness insurance product in the Philippines. This innovative offering is tailored to affordably cover three significant health risks: cancer, heart attack, and stroke.
The Critical Illness Insurance is available for purchase online or through Oona’s agents and partner banks. Customers can select the critical illness protection they want and answer four simple questions about themselves. They can then adjust the preferred coverage amount ranging from PHP 100,000 to PHP 500,000 and check the price.
Oona’s Critical Illness insurance products pay out upon diagnosis of covered critical illnesses (as opposed to reimbursement), allowing policyholders to use the funds for treatment, daily expenses, or any other needs. The Critical Illness insurance offers bundling coverage for all three critical illnesses starting from as little as PHP 145 per year, as well as a stand-alone package for each illness starting from PHP 51 yearly only. Customers as young as 18 years until a maximum of 65 years old can apply for the insurance, with an extension until they reach 70 years old.
“Oona’s foray into the retail health sector underscores our dedication to bridging the insurance gap in the Philippines, where a mere 1.75% of the populace is insured, leaving many vulnerable to financial strain in the face of severe health conditions,” stated Abhishek Bhatia, Founder and Group Chief Executive Officer, Oona Insurance. “By rendering insurance affordable, comprehensible, and easily accessible, we are reshaping the Filipino perspective on insurance—from a discretionary expense to an essential. Critical Illness insurance is the pioneer among a suite of health insurance products Oona is introducing to the Filipino market. Our objective, through digital ingenuity, is to streamline the intricacies and costs typically associated with conventional health insurance.”
The introduction of Oona’s Critical Illness insurance marks a pivotal moment in the company’s commitment to broadening insurance accessibility for Filipinos. This product offers a straightforward and cost-effective means for Filipinos to safeguard against the financial impact of critical illnesses on both themselves and their families.
To learn more about Critical Illness insurance, visit https://myoona.ph/.
