Insurance protection that you need to consider owning when living here include: home, car, life insurance, and medical. In your previous country, you probably had some, or perhaps all, of those insurances.

It’s challenging to navigate your way through the insurance industry here because there are few, if any, insurance brokers. Agents work exclusively with the insurance company they are licensed with. This raises the obvious question of impartiality. You have been used to working with brokers who contracted with multiple carriers. Since policies in every company have their strengths and weaknesses, its critically important to know which insurance company will best suit your individual needs because the insurance agents won’t necessarily tell you.

Life insurance policies are often sold here as a means to cover medical expenses. That’s different to what you may have been accustomed to. But what are the advantages and disadvantages of this approach?

Is it best for you to buy a medical insurance policy or instead self insure? If you want to buy a policy, is the face amount (death benefit) or cash accumulation more important for you? And which company will best suit your needs?

If you want to combine your home insurance with car insurance, which companies offer the best overall program with solid discounts?

Those are but a few of the important questions that need informed answers. We will be happy to refer you to the appropriate insurance agent and company based on your specific needs.

Dumaguete Business Life Insurance

Life Insurance

If you are planning to relocate from abroad to Dumaguete, before you leave, it would be wise to sit down with your insurance broker or financial planner to review your existing life insurance portfolio. The reason is that you will have significantly more choices there, and the cost of Term (Temporary, up to 10 years with no savings attached) life insurance will also be more cost effective than abroad. At retirement age, absent a significant need to pay estate taxes, you probably won’t need any more life insurance.

But if, when here, you are sure you need more life insurance, be careful to avoid overenthusiastic life insurance agents who may try and convince you to buy into a investment style insurance plan with only a nominal death benefit.

If you need clarification on any life insurance related issue, please contact us, and we will clarify concerns you have.

    Health Insurance

    You may come from a European country, or Canada, where you had partial or full health insurance coverage derived from taxes you paid there. If from America, you were accustomed to either having employer provided health insurance or , if self employed, had your own health insurance plan. If already retired in America, you had Medicare and hopefully also had a supplementary medicare plan. Regardless of which country you come from, please be careful if, when you become seriously ill, you assume you will simply hop onto an airplane and all will be well. That ignores the realities of what may happen such as the present long term travel restrictions in the Philippines and elsewhere. It also ignores the possibility of you being unable to travel anywhere because of your sudden bad health.

    There is however, good news about health insurance options here and the overall costs and quality of health care here in Dumaguete. We will be happy to explain all of that to you.

      Dumaguete Health Insurance
      Dumaguete Car Insurance

      Automotive Insurance

      Comprehensive car insurance is advisable to have here. The harsh reality is many people driving a variety of modes of transport have either minimal, or no insurance to cover their liabilities. Another important aspect you need to be aware of, is if it’s a close decision regarding who is liable for the accident, guess who will be favored, and it’s not likely to be the foreigner.

      Another fact that is different from what you may have been used to is there are no insurance brokers for you to go to for objective analysis. All agents work for one insurance company who license agents who subsequently can only recommend their one company to prospective clients.

      Also, there are only a limited number of insurance companies offering car insurance here. Just as with all insurance companies, each has strong and weak points regarding coverage offered. Fortunately, we can refer you appropriately when you contact us.