How many Filipinos remain uncovered by any type of insurance?

Based on statistical data, only around 50 million out of the 100 million Filipinos are covered by insurance. This is only around half of the population. These are individuals that have gotten insurance coverage from private insurance companies. 

Meanwhile, the government is hard at work to make sure that all Filipinos will receive healthcare coverage under PhilHealth, however, at the moment only around 50 million Filipinos are currently covered.

What happens to the population that does not have any type of insurance coverage?

If the person is not currently covered by a private insurance company and not under PhilHealth coverage either, these people would have to pay for any medical expenses out-of-pocket. These people usually have to deal with situations as they come. They do not have an insurance policy to help them with the expenses for the medical bills and other types of emergencies that may happen to them.

Insurance is designed to give a person and their family from financial crises that may befall them. More than 50 million Filipinos believe in the power of insurance, but sadly not all people have the funds to invest in any type of insurance.

Why people should invest in insurance

The need for insurance boils down to extra expenses that remain unaccounted for. Many people have so many expenses that they are unprepared for. Most Filipinos do not allot a part of their budget for emergencies. They usually rely on their meager income and savings to cover the costs of any emergencies.

Having an insurance policy will enable people to have peace of mind to be able to live their lives free from worry. They will have enough extra funds to face any kind of emergency without touching the savings they have in the bank.

Do you have insurance coverage?

If you are one of those Filipinos that still remains uncovered by any type of insurance, it may be high time to invest in insurance. Depending on the needs of your family the monthly budget you have and the amount of income that you receive every month, you should consider getting insurance coverage. Most life insurance companies can also offer health care coverage. Having a solid insurance plan can enable you and your family to reach financial freedom and security.

You will no longer need to touch your savings account every time you will need extra funds for an emergency. When a family member gets sick, you will not need to deplete your savings just to avail of treatment or a doctor’s appointment to get diagnosed. Your insurance policy can take care of that for you.

Even as our government continues to improve, medical insurance along with it, it is still wise for you and your family to invest in an insurance policy from a private insurance provider. You can never be too careful about the surprises that life can sometimes suddenly spring on you. Having an insurance policy will give you and your family the comfort to live your lives free from worries. What are you waiting for? Don’t be one of those Filipinos who are still uninsured in 2019! Get an insurance policy for you and your family today!

Ways you can have your money work for you

Investment.

Having an investment means you will be able to have an income that falls outside of the regular salary that you get from your nine to five job. Investment is usually a way for you to make passive income. This means that you will not have to exert very much effort for you to be able to gain income.

Many have the wrong notion that investment requires a lot of money. Many think that only the rich and famous can invest their money. The truth is it does not take very much for you to have an investment. The trick is looking for the right type of investment and making sure that your money is put in the right place to ensure a return on your investment.

Set up a small business.

Find something that you like doing and try investing time and money into that hobby to make it into a profitable business. If you enjoy baking, you can put up a small business that makes cupcakes for your friends and family. Start small. A successful investment does not need to be a big enterprise right away. Start small and set realistic goals.

Savings.

Having savings that accumulate interest for you can also be another way for your money to work for you. There are many ways by which you can have savings and enjoy the benefits. Bank products such as savings accounts and also investing in stocks can help make your money do the work for you.

Insurance policy.

One of the best ways on how you can invest and let your money earn passively is to invest in an insurance policy. Many are not aware that insurance policies can include an investment portion. The money you invest in an insurance policy can be set aside into many cash benefits that you can use when you need extra cash.

You can set up a cash benefit that can be a savings account. You will not be able to believe how much your initial investment will grow after just a few short years.

How does your money grow?

When you invest money in an insurance company, the money will be invested to make sure that your money will grow. Experts in the stocks industry will be the ones to invest your money in stocks and make sure that your hard-earned cash will be invested properly. This is how insurance companies make money and at the same time, can also assure policyholders that their money will grow exponentially in a short amount of time. 

How your insurance policy can work for you

There are many ways by which your insurance policy can be the one to earn passive income for you. Here are the most common ways on how it can help you attain financial stability.

• It has many cash benefits you can use.
• You can borrow against the amount of your policy when you need it.
• It can also act as a retirement fund.
• It provides an affordable way to invest your money.
• It offers an almost risk-free way to invest.
• You can use it as a savings account, especially if you have a hard time saving money.
• It is an affordable and offers a 100% return on your initial investment

What are you waiting for? Apply for an insurance policy today and you will be that much closer to attaining your financial goals.

What is term life insurance?

As the name suggests, term life insurance will cover a person and their family for a certain, set amount of time. Term life insurance packages can cover a person anywhere from one year to over 10 years. Depending on the inclusions of the plan as well as the amount of time for coverage, prices may vary per insurance company.

Many people wonder if investing in this type of life insurance is worth it. Since it can only offer coverage for a set amount of time, many people think it may not be worth it. We have compiled reasons why it may be beneficial for you and your family to invest in a term life insurance policy.

Advantages of term life insurance plans

Many advantages come with investing in a term life insurance plan. Many may prefer to get a whole life insurance plan, but there is a chance that you and your family may benefit more from term life insurance.

It is cheaper.

When compared with whole life insurance, term life insurance will naturally come cheaper because it only covers a person for a set amount of time. It is also easier to understand because when a person invests in term life insurance, they only have to decide on coverage duration, the amount of premium to pay and what is to be included in the policy.

It offers more flexibility.

Since it will only be valid for a certain amount of time, it is easier to customize it. With whole life insurance, it is very difficult to change an already existing policy. Even if needs change, it is very seldom that insurance providers will allow you to make changes to your whole life insurance policy. However, with term life insurance, you can be able to create a new policy when your old one expires. Depending on your needs, the term life insurance policy you create should answer all the needs your family has. No matter how many times the needs of your family might change, your term life insurance can change accordingly.

it is good for travelers.

If you will be traveling to another country for some time, term life insurance can offer good coverage for you while you are abroad. 

It is a good investment for growing families.

If your family is young and just starting, chances are you may still be financially stressed. You may still be paying for your first house or first family car. These expenses can put a strain on the budget and make it difficult to invest in more expensive whole life insurance. Term life insurance is a more affordable option that can cover you and your family until you will have enough money to invest in whole life insurance.

Invest in term life insurance now!

There are many good selling points of term life insurance. If you are looking for an insurance policy that is affordable, easy to customize and offers flexibility, go for term life insurance today. You will have peace of mind knowing that you and your family are covered and prepared to face all kinds of financial crises in the future. 

Investing in life insurance is the first step you and your family can take toward achieving financial freedom and stability.

However, vehicular accidents do not only cause harm to the actual cars and the people inside them. They may also cause potential damage to the car insurance premiums the car owners pay.

This article will talk about how much car insurance can go up right after an accident. Also, the article will tackle the topic of how you can reduce the impact that the accident will have on the number of premiums you pay.

Why does car insurance go up after an accident?

Car insurance premiums tend to go up right after accidents, especially when the person driving the insured car is the one at fault for the accident. Rates for premiums also tend to go up because of the type of insurance claims that are made in relation to the accident. 

How important is car insurance?

Having car insurance will protect the vehicle owner from spending too much on repairs during unintended instances, like if a tree falls on your car and ends up breaking the windshield. Or if your car gets stolen, insurance is made to provide coverage for that as well. 

Even if the rates for the premiums may change after an accident, insurance is still an important thing to have. It will safeguard your wallet from spilling out too much of its contents when you would need to repair damage to your car. On top of this, to get your car registered, you will also need to present proof that you had your car insured. 

How to get car insurance

Getting car insurance is easy. The insurance that is offered at the local LTO of your city is not too comprehensive, and if you would like to have more extensive coverage, you can go to private companies that offer insurance for this. 

For an affordable premium payment, your car can be protected from third-party liabilities, accidents that have been caused by the drivers themselves and accidents due to Force Majeure.

Get car your car insured today!

If you have a car, it is in your best interest to get it insured today. Even if car insurance may be quite expensive, it is still a better deal rather than you having to pay for the repairs out-of-pocket after an accident.

Also, even if the price may go up slightly after an accident happens, having car insurance will give you peace of mind knowing that no matter how many road-hogs there are on the Philippine roads nowadays, you will not have to worry about spending for the repairs of your car should you be in an accident in the future. Y

ou can never be too prepared for accidents, and car insurance should be there to help you in case you are ever in one.

Many things can go wrong. Insurance is supposed to be there as a way for you and your family to be ready for any emergencies that might happen. You will be able to sleep better at night knowing that you are financially prepared for any type of disaster or emergency that might come up. Many people are caught off guard by these sudden emergencies. That next person may be you. You can make yourself ready by investing in an insurance plan.

The most convenient way to get insured

Since many people end up not buying insurance because of the hassle it takes to get a policy, online insurance is the best possible solution to the problem! It is now possible for you to sit down in front of your computer, in the comfort of your own home and get insurance. It is so quick and convenient that you can be able to make your own do-it-yourself insurance policy, deciding what types of riders to include in the policy, and pay for the policy right after. Your policy will be given to you within minutes from when you first start.

There will be no more need to undergo a medical test, as some companies require you to get as a prerequisite to getting an insurance policy. Online insurance is supposed to make the whole application to get an insurance policy quicker and easier. The aim is to be convenient right from the beginning. After all, an insurance policy is supposed to be designed to provide peace of mind for the policyholder and their family. The idea of online insurance is to provide that from the moment clients start applying for their insurance policy.

Advantages of applying online

Artificial Intelligence.

There is no room for human error when you apply for a DIY policy online because your policy will be constructed and made-to-order according to your unique needs by artificial intelligence that is installed into the website’s system. All you need to do is to put in all the information about what you need, whether that be a health care insurance or life insurance, and the AI, which has been named Sandy, will take care of everything for you. No miscalculations, no mistakes, just quality life insurance.

Time-saving.

You will be able to save a lot of time, considering you will not need to commute or endure heavy traffic just to get to talk to an agent. You will not need to wait for days to receive your policy in the mail, you can pay for it right after you finish putting in your information. You can be insured within minutes.

No medical tests.

Everybody needs insurance, especially those who have been diagnosed with a chronic illness. Online insurance gives everybody an equal opportunity to get insured. Also, no medical tests mean that you can save a substantial amount of time.

No paperwork.

Paperwork is one of the things that people hate when they apply for insurance. With an instant insurance policy online, people can do away with the need for paperwork because everything will be done online. 

What are you waiting for? Logon to epolicy.ph and grab your instant DIY insurance today! Save time and get the peace of mind you and your family deserve.

What are the top companies in the insurance industry?

When it comes to insurance, these companies really know what they are talking about. They offer a good number of insurance policies for their clients to choose from, and they make sure that they have something for everyone. Here are the top 5 names to look for in the life insurance industry, we hope that this list will make it easier for you to make a choice about which company to invest with.

Manila Bankers Life Insurance Corporation.

Manila Bankers Life, also known as MBLIFE, is one of the oldest and most well-known insurance companies in the Philippines. They have a wide range of insurance products that cater to all the needs of a policyholder.

They are one of the few companies that offer insurance for business owners who are in the lending business. They make sure that they offer products for every type of client. You can be able to customize your insurance policy when you invest with Manila Bankers Life.

AXA Philippines.

AXA is one of the newer providers for insurance but is growing into one of the most popular. They also have many insurance products and riders to make sure that they have many choices available for their clients. AXA’s life insurance and investment policies exist because of a joint effort between the AXA Group from France and the Metrobank Corporation.

BPI Phil Am.

BPI Phil Am is another company that is a result of a tie-up between an insurance company and a big bank in the Philippines. BPI Phil Am is a joint venture between the Bank of the Philippine Islands and The Phil Am Insurance Corporation. They are one of the most trusted bancassurance companies that offer quality insurance packages to their clients. 

Sunlife.

Sunlife also offers a great array of choices for insurance products in the Philippines. It has been consistently ranking in the top list of insurance providers for the previous years. They have many satisfied clients who benefit from the many insurance products that they offer to the public.

Manulife.

Manulife is another company that has been in the insurance game for a long time. It has established itself by offering good quality life insurance products and gathering a following of many clients that have continued to be satisfied with the services and products that they have been offering over the years.

These are the best providers for insurance products in the Philippines. They all have been accredited by the Philippine Insurance Commission, and are the most trusted in the business.

Now that you are aware of the biggest names in the industry, you are now ready to buy your very own insurance policy. Investing in insurance will take you one step closer to having financial freedom.

This is one dream that many Filipinos have, but few can achieve. Having an insurance policy under your belt will give you and your family the peace of mind that you will be ready to face any type of emergency that may crop up. 

It is not impossible to be able to live comfortably, work hard and have an investment to show for all the hard work you put in. Invest in an insurance policy today and hit all these birds with just one stone!