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.

Life Insurance

If you are in the process of planning a move from abroad to Dumaguete, it’s a prudent idea to schedule a meeting with your insurance broker or financial planner before your departure. This pre-departure consultation will allow you to comprehensively review your existing life insurance portfolio. The rationale behind this suggestion is that you will encounter a considerably broader range of options in Dumaguete, and you can anticipate that the cost of Term (temporary, up to 10 years with no savings component) life insurance will also be more financially advantageous compared to what you might find abroad. As you approach retirement age, unless there is a substantial requirement to cover estate taxes, you are likely to find that you no longer require additional life insurance coverage.

However, should you find, after settling in Dumaguete, that you do indeed need more life insurance, exercise caution to avoid overly zealous life insurance agents who may attempt to persuade you to invest in an insurance plan primarily structured as an investment vehicle with only a nominal death benefit.

For any inquiries or clarifications related to life insurance matters, please do not hesitate to get in touch with us. We are here to address any concerns or questions you may have, ensuring that you make well-informed decisions regarding your life insurance needs.

    Our consultancy service costs just $50 (P2700) - tap into the knowledge of experienced expats

    Health Insurance

    Depending on your background, you may come from a European country or Canada, where you enjoyed partial or full health insurance coverage funded through taxes you paid in your home country. If you originated from the United States, you might be accustomed to either having employer-provided health insurance or, if you were self-employed, you would have had your own health insurance plan. If you’ve already retired in America, you would have relied on Medicare and, hopefully, supplemented it with a Medicare plan.

    Regardless of your country of origin, it’s important to exercise caution if you believe that, in the event of a serious illness, you can simply board an airplane and everything will work out. This perspective overlooks the real-world challenges that may arise, such as current long-term travel restrictions in the Philippines and various other destinations. Furthermore, it doesn’t account for the possibility of being unable to travel due to a sudden decline in health.

    However, there is encouraging news regarding health insurance options and the overall quality and cost of healthcare in Dumaguete. We would be delighted to provide you with a comprehensive explanation of these factors, helping you make informed decisions about your healthcare needs while you are in the area.

      Our consultancy service costs just $50 (P2700) - tap into the knowledge of experienced expats

      Automotive Insurance

      Having comprehensive car insurance is highly advisable when residing here. The unfortunate reality is that many individuals operating various modes of transportation have either minimal coverage or no insurance at all to address their liabilities. Furthermore, it’s crucial to be aware of the local legal landscape where, in cases where liability for an accident is closely contested, the advantage is not typically in favor of the foreigner.

      Another important distinction from what you may be accustomed to is the absence of insurance brokers available to provide you with impartial analysis. In this region, all agents exclusively represent a single insurance company, limiting their recommendations to just that one company for potential clients.

      Additionally, the selection of insurance companies offering car insurance here is relatively limited. As with any insurance providers, each has its strengths and weaknesses in terms of the coverage they offer. However, the good news is that we can direct you appropriately when you reach out to us, ensuring that you receive the guidance you need to make informed decisions regarding your car insurance in this area.

        Our consultancy service costs just $50 (P2700) - tap into the knowledge of experienced expats