IC should stop deceptive insurance schemes

AN online search for the meaning of the word “insurance” will yield this — “Insurance is a means of

form of risk management, primarily used to hedge against the risk of a

For most of us out there,

it

State of insurance in PH

is

a life insurance pays off a certain sum of money when the insured How about insurance schemes disguised as “legit” insurance programs? The Philippine insurance industry -

Commission, the total life insurance premiums paid for a year amounts

non-life insurance, the total gross life and non-life policies, pre-need, -

health maintenance organization,

- ing to its website, the IC is there “To safeguard the rights and interest of the insuring public, pre-need

- - ance policies, together with the “de-

Manulife Insurance Co.

I had lunch last week with a former - -

said that he took out an insurance from Manulife Philippines, and I was still a new employee, fresh - - to pay our quarterly premiums

part was that we would be insured for the rest of our natural life here

But what on earth happened? I stopped paying premiums at the end Pay a single lump sum premium, the holding period because it was not

People’s General Insurance

A fellow engineer asked me for legal -

ground that the police report had the distorted phrase “patrol declares as The readers should note that a mere “smell of alcohol” is not a gauge on