PAC stands for Premium Allocation Charge. It is an important term to understand when purchasing a life insurance policy, as it can impact your premium amount and the allocation of your funds within the policy. In this comprehensive guide, we will explain what exactly PAC is, how it works, and things to keep in mind … Read more
Multiple protection coverage, also known as joint life insurance, provides protection for more than one person through a single policy. This type of coverage can provide important financial security for families and businesses partners. In this comprehensive guide, we’ll explore the key things you need to know about the types of multiple protection coverage available. … Read more
A participating company is a type of insurer that offers participating policies. Participating policies, also known as with-profits policies, are insurance policies that pay dividends to policyholders. These dividends come from the profits earned by the insurance company. Overview of Participating Policies Participating policies have the following key features: Policyholders receive dividends: A portion of … Read more
Health Maintenance Organizations (HMOs) have become an increasingly popular way to access healthcare in the Philippines. However, there is some confusion around whether getting an HMO plan is mandatory or optional. What is an HMO? A HMO is an organization that provides health insurance plans with coordinated care and controlled costs. HMOs bring together healthcare … Read more
Trustmark and Cigna are two separate companies that work together to provide health insurance and benefits services. However, Trustmark is not part of or owned by Cigna. Overview of Trustmark Trustmark is an insurance company that provides: Voluntary benefits like life, disability, and critical illness insurance Self-funded health plans for small businesses Wellness programs through … Read more
Insurance agents have the option to either work exclusively for a single insurance company or represent multiple insurance companies. The ability of an agent to work with multiple insurance providers depends on whether they are a captive agent or independent agent. Captive vs. Independent Insurance Agents There are two main types of insurance agents: Captive … Read more
Asset allocation refers to how an investor divides their investment portfolio between different asset classes, such as stocks, bonds, and cash. Two common asset allocation strategies are the 70/30 and 80/20 models. But what exactly is the difference between these two approaches? Overview of Asset Allocation Strategies Asset allocation is a key part of creating … Read more
If you have a whole life insurance policy, you may have come across the term “endow at 100” and wondered what it means. Endowing at a certain age is a feature of some types of permanent life insurance policies. When you buy a whole life insurance policy, you are purchasing lifetime coverage. As long as … Read more
If you are enrolled in Medicare, you may notice that you have been issued 2 different Medicare cards with 2 different Medicare numbers. This can understandably cause confusion, as most people expect to only have one Medicare number. In fact, there are certain situations where it is perfectly normal for a Medicare beneficiary to have … Read more
If you have property insurance such as homeowners, commercial property, or flood insurance, you have likely come across the term “did over should” when discussing claims and payouts. This refers to the coinsurance formula that is applied when determining claim payments. Coinsurance is an important provision in property insurance policies. It encourages policyholders to insure … Read more