Q. How can we be sure Kaiser will still be there in the long term? Can we trust Kaiser to fulfill its commitments?
A: 1. The Kaiser Ultimate Health Builder is a product of two actuarial studies made by an American and a Filipino actuarial, respectively.
2. The company and the products offered have passed the regulatory requirements of the gov't thru the Securities and Exchange Commission and the Dept. of Health.
3. At least 51% of payments made by the plan holders automatically goes to a trust fund, as required by the government. KAISER cannot touch the trust fund. It is reserved for the future claims by the plan holders.
4. Kaiser trust fund is managed by two reputable international banks namely:
i.) ING BANK (based in the Netherlands) and
ii.) DEUTSCHE BANK (based in Europe)
Q. I just bought a K45 plan and would want to have a bigger coverage. Can I upgrade or buy another plan?
A: Yes, a plan holder or member may upgrade his plan within 30 days from the member's effectivity date. The member may buy another plan only upon full payment of his policy which is on the 6th year.
Q: I just bought a K100 plan. Can I now avail of the Annual Physical and Dental Examination?
A: The member can avail of these two outpatient benefits after paying fully paying the first year's premium. E.g. If his mode of payment is annual, then he can avail immediately after receiving his member's kit containing his ID, benefit and dental card, provider directory, guide book and your schedule of benefits with the contract provisions.
Q: I have a K50 plan which I'd like to transfer to my daughter because I'm migrating to the U.SA. How do I go about transferring it?
A: The member shall be required to sign an amendment form and the daughter signs a new application for membership form and submit it to his IMG representative/offices or to Kaiser office located at King's Court I Building along 2129 Chino Roces Avenue in Makati City.
Q: If a member dies, is his K100 plan transferable to any of his beneficiaries? How much will his beneficiary get?
A: If the plan has approved term insurance coverage, the plan is transferable to the primary beneficiary. Kaiser shall pay the principal amount of the term insurance equivalent to the member's long-term care benefit Php 100,000. If the cause of death is an accident, another Php 100,000 shall be paid.
Q: What if I invested on a K50 plan and during the paying period (first 7 years) I used my Kaiser plan for in-patient hospitalization?
A: Instead of getting the full amount of P583,084 you will only get P408,084. Still more than 100% of what you've invested.
Q: What if I just leave my funds even after the 20th year?
A: It just continues to grow at average rate of 10% compounded annually. This is exactly the reason why the earlier that you start, the more funds you can accumulate.
Q: Am I still covered with insurance beyond the 20 years?
A: YES, as long as your account is still funded. Your total fund beyond the 20th year serves as your insurance. E.g. If you invested on a K-50 plan and didn't use/withdraw any amount from your fund, your total insurance coverage on the 20th year is P583,084
Q: What if I don't get sick? Can I use my money for something else?
A: YES, because it’s an investment. Meaning you can use it for anyone, anything, and anywhere.
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