Having health insurance is crucial in the Philippines to protect yourself and your family from the high costs of medical care. Many Filipinos rely on Health Maintenance Organizations (HMOs) as their primary form of health coverage. But is it possible to be covered by two HMOs at the same time for extra protection? The short … Read more
When applying for various types of insurance, you may wonder – do insurance companies ask for proof of your occupation? The answer is, it depends on the type of insurance and the specific provider. For certain policies like disability or business insurance, verification of your occupation is often required. For other policies like auto or … Read more
Life Insurance Corporation (LIC) of India is the country’s largest life insurer. Most Indians invest in LIC policies as they offer guaranteed returns along with life cover. One of the key benefits of LIC policies is the bonuses they accrue over time. But can policyholders withdraw these bonuses anytime they want? Let’s find out. What … Read more
Adverse selection is a significant risk for insurance companies. It occurs when high-risk applicants are able to obtain insurance coverage at rates that do not match their level of risk. This results in the insurance company taking on more risk than they anticipated. Fortunately, insurance companies have strategies to protect themselves from adverse selection. What … Read more
Paying your monthly health insurance premiums on time is essential to keep your coverage active. But what if you miss a payment? Most health plans provide a grace period where you can catch up before your policy is terminated. However, failing to pay before the grace period expires can lead to loss of coverage. Understanding … Read more
When applying for insurance, you will often see a field on the application asking for your “relationship to policyholder”. This simply refers to your connection to the person purchasing and owning the policy. Understanding how to properly fill in this relationship information is key to ensuring you get the appropriate coverage. Who is the Policyholder? … Read more
When shopping for insurance, you may come across the terms “admitted” and “non-admitted” insurance carriers. This refers to a company’s status and certification under state regulations. So is Progressive, one of the largest auto and home insurers, an admitted or non-admitted carrier? The short answer is yes, Progressive is an admitted insurance company in all … 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
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
When you get a homeowners insurance quote from GEICO, you may wonder who actually underwrites and provides the policy. GEICO itself does not directly issue homeowners policies. Instead, the GEICO Insurance Agency partners with over a dozen highly-rated insurers to offer homeowners coverage. Below we’ll look at key details on how GEICO’s homeowners insurance works … Read more