Oona Insurance launches hassle-free coverage for heart attack, cancer, stroke
OONA Insurance, the leading digital general insurer, launches its pioneering Critical Illness insurance in the Philippines. The product offering marks Oona’s entry into the local retail health segment, further cementing its commitment to safeguarding the financial well-being of Filipinos.
The Critical Illness Insurance is designed to provide affordable coverage for three major health threats: cancer, heart attack and stroke, which have been significant causes of illness and death in the country. Oona’s Critical Illness insurance products can be easily purchased online or through Oona’s agents and partner banks.
The prevalence of non-communicable diseases (NCDs), including cancer, cardiovascular diseases and stroke, is alarmingly high. According to the Department of Health, 1 in 3 Filipinos passed away from NCDs as of 2023.
On top of this, the financial burden of these illnesses is substantial. Studies show that many Filipinos are not financially prepared for sudden medical expenses, often resulting in significant financial hardship and the need to borrow money or sell assets to cover medical costs.
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. Critical Illness insurance offers bundling coverage for all three critical illnesses. Customers as young as 18 years until a maximum of 65 can apply for the insurance, with an extension until they reach 70.
To learn more about Critical Illness insurance, visit https://myoona.ph/.