In the wake of the recent devastation brought by the earthquakes in Cebu, Bacolod , Iloilo and Dumaguete in Visayas, Malayan Insurance, the country’s leading nonlife insurance provider, is stepping up its call for people to mitigate the risks and potential damages to their homes and business establishments by having earthquake protection to go along with their comprehensive fire insurance policies.

“While it seems that there is not much the public can do when it comes to this natural disaster, they can still reduce their losses and find relief in having a guaranteed and comprehensive financial help package necessary for them to rebuild their lives,” says Joel T. Almagro, head underwriter and executive vice president of Malayan Insurance.

A typical fire insurance coverage provides financial protection and security to your home, commercial building or business establishment against physical loss or damage caused by fire and lightning to an insured property. Malayan’s comprehensive fire cover improves on the basic by providing protection against earthquake fire and earthquake shock, as well as typhoon and flood coverage.

Interested property owners may get in touch with Malayan’s 34 branches nationwide where they may arrange for a free inspection and assessment of their properties. Policyholders affected by the recent earth quakes may visit Malayan Insurance’s regional branches in the Visayas and Mindanao areas, where Malayan’s branch staff will be available to help in their claims.

In Cebu, the Malayan Insurance office is located at the second floor, Great Pacific Life Building, Fuentes Osmeña, Rotonda, with tel. no. (32) 253-9382/4801 and fax no. (32) 255-3009.

In Bacolod, the office is located at the second floor, Malayan House Building, Lacson cor. 3rd st., with tel. no. (34) 4346566 and fax no. (34) 434-6567. The Iloilo City branch is located at the second floor, RCBC Building, J.M. Basa St. cor. Arsenal St., with Tel. No. (33) 335-0763 and Fax No. (33) 335-0406.

Step 1: Determine how much coverage you need.
Before anything else, you have to assess how much insurance coverage you want to get, also called the face value in insurance parlance. The ballpark figure ranges from five to 10 times your annual income.
Remember: life insurance is about insuring against the loss of income. First, determine how much income your family needs every year to cover their expenses until such time they have fully adjusted to life without you. That includes mortgage, utilities, food, groceries, clothing, transportation, recreation, etc. That would amount to their total annual living expenses.

Now, add lump-sum expenses that should pay for your “final expenses”, such as funeral, hospitalization, and medical expenses as well as your estimated estate tax, if you have substantial assets. You may also want to add debt payments and the cost of your children’s education.

Step 2: Project the lump-sum needed for living expenses.
To figure out how much money is needed to fund your family’s annual living expenses, divide the amount by an estimated rate of return. A bond fund, for example, has an average return of 8%. So used this – but you can be more conservative or aggressive in your estimates. The result is the lump-sum amount that will fund your family’s needs every year. Add your one-time final expenses to get your ideal insurance coverage or protection needs.

Step 3: Figure out your current funding sources.
Once you’ve computed your total expenses, deduct whatever assets and existing policies you have that can close the gap. If your spouse is working, have other investments, and are expecting pension income, factor these. Or you may have already amassed savings for your children’s education, so you can count that out. Your mortgage may already have mortgage redemption insurance – a declining term policy required by your bank. Your employer may have group insurance which gives you some coverage. You may have an existing pre-need plan or bank deposit with free insurance. Deduct all these sources.

Whatever left is the total insurance surplus or shortfall. If there’s a surplus, you can decrease your coverage, but if you have a shortfall, which is more likely, you need to augment your existing policy with additional coverage.

Step 4: Identify what insurance features you need.
Most insurance companies actively sell their limited pay whole life insurance policies and endowment products. And they have different brands for each product variation, so it’s important to decide ahead what features you want.

If you picked term life insurance, you have simpler choices to choose from: annual, 5 years, 10 years, up to 60 year old, up to 65 years old, etc. Just make sure the policy is renewable – meaning you can renew it upon maturity without requiring you to have a medical exam. Consider also getting convertible term plan, which lets you convert your term policy into a permanent life insurance plan. Also, it might be best to get level term premiums for as long as possible.

But if you decide on a permanent policy, there are more features you have to decide on. Do you want a participating, i.e. earn dividends, or non-participating? Do you want to pay for the entire period of the policy, for a limited pay period, or just one time? Do you want guaranteed fixed benefits or variable benefits?

Step 5: Assess which riders to add.
Upon deciding on the features you want, consider the riders or extras tacked on to your policy. Take the time to understand what each rider is supposed to do and decide if you really need them. If you feel you need them, compare how much it would cost if you just bought a separate term, accident or health insurance policy. Once you’ve picked which the best insurance company to buy a policy from, don’t delay.

Affordable life insurance ensures that the dreams of the most important people in your life are kept. We really can’t afford to live without protection and without permanent life insurance.

Read a report below from Manila Bulletin on this affordable health care program that can save money:
Filipino seafarers can now be assured their family members’ healthcare needs are addressed even while they are away, through the partnership between wireless leader Smart Communications, Inc.’s satellite phone service Smart Link and United Laboratories’ Alagang Pinoy healthcare service.

Smart Link is the country’s first and only prepaid satellite phone service catering to the maritime industry. It provides coverage to seafarers sailing within Asia-Pacific, Indian Ocean, Middle East, Africa, and some parts of Europe and the Mediterranean.

The partnership makes it possible for Filipino seafarers to provide for their family members’ healthcare needs with a simple phone call. Using the Smart Link satellite phone service deployed across 2,500 maritime vessels all over the world, seafarers can call dial Access Code 44390 to avail of Unilab’s Alagang Pinoy Prepaid Healthcare Cards for his family or beneficiaries back home.

The seafarer’s family and beneficiaries can then use the value on the prepaid card to join Unilab’s complete prepaid healthcare program designed to address the medical needs of OFWs and their families. Membership allows seafarer families to purchase much-needed medicines at discounted prices and for added ease and convenience, have these delivered to their doorsteps. Family members can also use the prepaid value to secure medical checkup services at accredited clinics at special discount packages.

Money is hard to find in this economic downturn. And to save money when sick or need health care maintenance, it’s a good idea to look for affordable health care services.

But, just because it makes sense to insure big-ticket items, it doesn’t follow that the same logic applies to small-ticket items. This is the mistake that many, many people make. They understand how insurance works for things like their houses, and they think the same logic works for insuring things like their cell phones and VCRs.

The bottom line is that you should not buy insurance to protect against losses you could afford to pay for yourself. This applies to items such as consumer electronics, cell phones, items being mailed, contact lenses, glasses, and predictable expenses, such as dental cleanings. And if you do the math, you’ll find that you’ll also come out ahead if you buy high-deductible auto and health insurance.

You may choose to try the following exercise. Every time you’re considering buying insurance for minor purchases, such as when you are buying a new DVD player, don’t buy that insurance. Record the amount that you saved on insurance, and keep track of the policies that you didn’t buy. Keep a running total of the amount that you saved by not buying such insurance. Then call your auto insurance agent, and increase your deductible from, say, P200 to P500, or from P500 to P1000 (the higher deductible the better, as long as you know you could afford to repair your car if you get into an accident, and as long as you feel comfortable with the amount). Do the same for your health insurance. Record the amount that you save each time you pay your premiums. (The best way to do this is to keep separate ledgers: Keep one for items such as consumer electronics, contact lenses, glasses, and so on, one for auto insurance, and one for health insurance.) Subtract from this running total the costs that you incur because of the insurance you decided not to buy.

While your ledger may dip into the “red” now and then, the vast majority of people who try this experiment will enjoy watching their balance move further and further into the “black.” The amount you save can be substantial. Ideally, you should put away the money you’ve saved, instead of just tracking it; consider opening a special “self-insurance” savings account. This way you won’t spend the money on something else. If your VCR does break, you will be able to buy yourself a new VCR using the money in your self-insurance savings. Over time, this account will likely grow. Once it grows large enough, you might feel comfortable raising, say, your collision insurance deductible even higher. The higher the deductible you can comfortably risk having to pay, the more money will go into your account instead of into your insurance agent’s pocket.

A car title advance loan is great for people who need money in a hurry or cannot get a loan from anywhere else. If you have a car, a second key, a title certificate and a proof of insurance, then title pawns can help you quickly.

Usually the following items, documents, and information are needed especially in applying title pawns online:
• Auto title (free and clear of any liens)
• Personal data
• Driver’s license
• Social Security card
• Vehicle registration
• Proof of insurance
• Most recent paycheck stub
• Current home phone and utility bill
• Current mortgage statement or lease
• Multiple references
• Spare set of car keys

No one can afford to live above their means for very long. Car title loans can provide your family with the money needed now without taking the family car. Cars are necessary tools in today’s society. Traveling to work, shopping, school, and appointments makes them very important. By borrowing against your vehicle, you can still drive to work to earn the money you need to care for your family and to repay what is owed. Without stranding you at home, this unique line of credit gives borrowers the money they need at an affordable rate.

How a deductible works?
An auto insurance deductible is the amount that you have set earlier while you have purchased a policy and have to pay it, while you file a claim in the event of a covered loss or accident or theft. For example, if you have met with an accident that has caused damages of $3000 to you car and your deductible is $500, you have to pay $500 as deductible to your insurance company and then they will pay you $2500.

Are you aware of the purpose of an auto insurance deductible?
An auto insurance deductible will help you keep your monthly premiums within your means. It helps you become a more responsible driver. It’s because, when you’ll think of the fact that you have to pay a part of the damages if you meet with an accident, then you’ll become more diligent and careful while you’ll drive. A deductible discourages you from frequent claiming of insurance benefits. For example, if you have met with a minor accident with a damage of your vehicle costs $300 and your deductible amount is $500, then you don’t have to file a claim to your insurance company. If you don’t file for minor claims then your insurance company can use the amount to pay for your more substantial claims.

Is setting a too high deductible a good idea?
Before you choose your deductible, you have to look into your budget and your savings to find out whether or not you’ll be comfortable to pay it in the event of any covered loss or accident. By setting a deductible beyond your means, you’ll be able to save money on your premiums but when you’ll claim for an accident, you have to drain your entire saved amount to pay your deductible. If you’re unable to pay the deductible in the event of an accident, then your insurance company will not be liable to cover your damages.

Lastly, when you’ll search online for a suitable auto insurance policy, you’ll find that every company has different premiums and are affected by the deductibles. You must compare the terms and conditions of the different policies of the companies before you purchase one. An online search will help you save your time and you’ll be able to get the information that you require.

The problem with this scenario is that no two plans are exactly alike, so you need to know the ins and outs of every plan in order to make an informed decision.

So how does this help you?

Get Instant Quotes From Over 100 Top Providers:

Due to being in the health insurance business for over 25 years, HealthCompare have connections! HealthCompare has partnered with over 100 of the nation’s top insurance providers in order to allow you to compare their insurance plans, premiums and benefits online at one location.

Compare health plans from national carriers such as Humana One , Blue Cross Blue Shield, Aetna, United Healthcare, Anthem, Celtic, Health Net, Select Health, Life Wise, Medical Mutual, Tonik, Coventry One, Cigna and many, many more.

Health plans shouldn’t be confusing. Finding quotes on affordable health policies shouldn’t be hard. At HealthCompare, we can help you determine which health insurance policies work with a deductible you can afford, matched with the benefits you need.

Compare Health Insurance Quotes From Top Providers. HealthCompare is your One Stop Shop For Health Insurance

*When buying a car, make sure that the insurance covers “Acts of Nature”. This will ensure that your car is protected against loss or damage due to flood, typhoon and other convulsions of nature. Under UnionBank’s Car Secure Insurance Program, you have the option to apply for an “Acts of Nature” cover.

*Understand what “Acts of Nature” means. “Acts of Nature” as a natural catastrophe which no one can prevent such as a typhoon, flood, earthquake, a volcanic eruption, or a tornado.

*Choose an insurance provider that offers the most coverage. UnionBank Credit Card’s Car Secure Insurance Program in partnership with Mapfre Insular pack in the most features in flexible payment terms of up to 10 monthly installments at 0% interest. No more post-dated checks or on-the-spot cash payments. Aside from great discounts on premiums and zero-interest monthly installments, you also get access to road assistance 24-7, free towing service, ambulance assistance, and an alternate transport to your destination in applicable emergency cases.

Optional “Acts of Nature” cover is subject to approval upon submission of additional documents as required by Mapfre Insular.

So get your Car Secure protection today! To enroll, call (02) 812-9187 / 812-9189 / 892-3917, visit www.unionbankph.com or email carsecure@unionbankph.com.

This Car Secure Insurance Program is brought to you by Union Bank of the Philippines in partnership with MAPFRE INSULAR, one of the leading and more financially stable insurers in the country.

Pru Max Value 15 gives you and your loved ones PROTECTION from financial burdens brought about by accidental injuries, disabilities, critical illness, and the most catastrophic loss of all – death.

Pru Max Value 15 offers the following benefits:

- covers for 15 yrs;
- pays accidental death and disablement benefits up to age 73;
- pays Daily Hospital income up to P5,000,000;
- advances up to 100% of Sum Insured upon diagnosis of Critical Illness;
- allows hassle-free Renewal or Conversion to a regular plan (whole life or investment-linked);

Plus: You can enhance your coverage with waiver of premiums due to disability – so you get to enjoy the benefits even while you are unable to pay premiums due

The PruMax Plan is a Term Insurance plan meaning it’s not earning any dividends/interest. It gives you protection only. It covers you for 15 years only, at the same time, you pay for 15 years too. You can renew it again for another 15 years once you reach the 15th year.

The annual premium then will be at your attained age already. It’s a complete package – death coverage, total & permanent disability benefit, 36 kinds of critical illnesses coverage, accidental death & disablement and daily hospital income benefit for 365 days per illness.

Take note that the annual premium is increasing per year based on attained age. You will save money if you pay in Annual Mode rather than in Semi-Annual, Quarterly or Monthly Mode of payment.

You can pay in cash or check for the 1st 2 years. Credit card on the 3rd year onwards. You will have to submit 2 valid government issued IDs, xerox 2 copies.

PAA – Low Premium is available for both peso and dollar denominations, and here are the funds that you can choose from where to invest your money:

*PruLink Bond Fund
*PruLink Managed Fund
*PruLink Growth Fund
*PruLink Equity Fund
*PruLink Dollar Bond Fund
*PruLink Proactive Fund

PruLink Assurance Account has two components: the Core Benefits and the Optional Benefits.

Core Benefits

a. Death Benefit (Whole life coverage)
The sum assured plus the fund value are payable in the event of death of the life insured.

b. Total and Permanent Disability (TPD)
This benefit pays a percentage of the combined basic and term

c. Loyalty Bonus Benefit
This benefit gives the policyholder additional 10% of the annual premium starting on year 11 up to policy maturity if the policy remains with the Company for 10 years.

Optional Benefits available are:
a. Crisis Cover Benefit
b. Accidental Death & Disablement (ADD)
c. Payor Waiver

The PruLink Assurance Account is a variable life insurance product. Unlike the PruMax Plan, it earns interest. It is a complete protection package, just like the PruMax Plan, but it has a LEVEL Premium, meaning, the Annual Premium has a fixed amount. It’s not accelerating. It also gives you loyalty bonus of 10% of the Annual Premium starting on the 11th year up to the 20th year for continuous payment.

If you have accumulated enough funds, more or less about 20 years, it can self-liquidate, meaning, the company will use the funds in paying your future premiums, if you really need the protection.

If you really need the money, you can withdraw all the money and the life insurance protection part will cease already. Withdrawal all the money will terminate the contract. This plan is my top of the line plan because it has comprehensive protection benefits plus it gives you the chance to earn more.

Better pay in Annual Mode of payment also in order to take advantage of the low unit prices now although you could also pay in other modes.