Thursday, January 21, 2021

102-Year-Old School In Sorsogon Gets New SM School Building

The newly built two-story SM School building is now ready to cater students from Basud Elementary School in Sorsogon City!

World Vision And KOICA Help Over 13500 Families Affected By COVID-19 Pandemic In Marawi

Around 13,500 families in Marawi City received assistance as part of World Vision and KOICA’s health response.

World Vision Alarmed By Students Selling Sensual Photos Online To Support Their Education

Here are some agencies where you can report incidents of child abuse and sexual exploitation:

Make This A Year For Reinvention With Globe And Samsung Galaxy S21+ 5G And S21 Ultra 5G

This is it! The new Samsung Galaxy S21 comes in 5G with Globe!

Why Middle Class Puts Value (Or Not) To Insurance

Why Middle Class Puts Value (Or Not) To Insurance

Spotlight

102-Year-Old School In Sorsogon Gets New SM School Building

The newly built two-story SM School building is now ready to cater students from Basud Elementary School in Sorsogon City!

World Vision And KOICA Help Over 13500 Families Affected By COVID-19 Pandemic In Marawi

Around 13,500 families in Marawi City received assistance as part of World Vision and KOICA’s health response.

World Vision Alarmed By Students Selling Sensual Photos Online To Support Their Education

Here are some agencies where you can report incidents of child abuse and sexual exploitation:

Make This A Year For Reinvention With Globe And Samsung Galaxy S21+ 5G And S21 Ultra 5G

This is it! The new Samsung Galaxy S21 comes in 5G with Globe!

Regret is always after the fact. For middle class families, learning from regrets is a big no-no, particularly those that are financial-related. We are one medical tragedy away from financial bankruptcy. Savings built over many years, for example, could be easily wiped out by a heart transplant or kidney operation.

To allay worries, insurance protection serves as a lifeline for middle class families. Basic protection should include medical insurance, life insurance, and life plan.

Bad past

In the 1980s, educational plans became popular. My mother, along with her co-teachers in a public school, bought plans from the College Assurance Plan (CAP). A sales agent collected the monthly premium at our house in Tondo, Manila.

But after a year of paying monthly premiums, the sales agent vanished in thin air so the policy expired. My mother did not bother to reinstate the policy since she was busy in school. Her co-teachers completed their CAP payments.

So when the pre-need industry crashed about a decade ago, I witnessed the agony of my friends who were policy holders of CAP paid by their parents. Nearly a million Filipinos were affected by the downfall of the pre-need industry.

That unfulfilled promise of insurance companies left a void in the financial protection of middle class families. It took years before we mustered the courage again to invest our hard-earned money to insurance firms.

Better today but still wary

With the demise of educational plans, insurance marketing geniuses introduced plans that combine savings and life insurance. Premiums are allocated for both investments and life insurance protection of the policy-holder.

I call it “forced savings” because you have to pay it regularly. In my case, I decided to pay it monthly so it is easier on the budget. Paying period is five years then retention is another five. On the 11th year, I can opt to cash-in all my investments or leave it there to earn more.

The fund is actually for my oldest who plans to take up medicine. As a middle class family, we live on our monthly salaries so the only way to support a significant financial requirement in the future is to save years before it is needed. We tighten our belts or find part-time jobs to support our kids’ education which is a priority for every middle class family. We are on our last year of paying this policy.

About three weeks ago, I received an email that this policy expired because I failed to pay my premiums since the lockdown. Panic enveloped me. I thought all insurance premium payments, loans, credit card payments are under a moratorium given the community quarantine. My kids have life insurance policies with another company and I received this advisory through email, SMS and a personal call from my financial advisor.

I could not reach the insurance firm through email, phone, or social media so I visited the bank branch. In short, my policy was reactivated after I filled out a reinstatement application and paid all missed premiums. An expired insurance policy in the midst of a health crisis is worrisome for me as it is with other middle class families.

The next day, I ranted on social media about my experience. It turns out, I was not the only one who experienced the same insurance policy expiration during the lockdown. My post generated various comments, one was from the Deputy Commissioner of Insurance Commission who encouraged me to report the incident to the Insurance Commission.

On the same night, I received an email erratum and a private message from one of the executives of the insurance company who apologized for the incident.

With the Insurance Commission overseeing the financial viability of all insurance companies, I am more confident in investing our hard-earned money to insurance firms. Peace of mind for a middle class family is a result of transferring the risk to insurance companies, securing financial stability by allowing experts to build our investments, and providing complete protection for me and my family in case of emergencies.

DavNor Town Acquires P78-M Heavy Equipment

Who do you think can benefit from Davao del Norte's PHP78 million worth of heavy equipment?

Ilocos Norte Converts La Tabacalera As ‘Food Park’

Ilocos Norte has converted the government-owned lot into an open space "food park”!

Gov’t Assures Transparency, Accountability In Vaccine Procurement

Government assures the public that the centralized vaccine procurement ensures the country of equitable access to vaccines at a lower price.

Pangilinan: Philippines Shouldn’t Settle For ‘Pwede Na’ In Choice Of Vaccines Vs Covid

Papayag ka ba na isa ka sa makakatanggap don sa "pwede-na-'to-vaccine"?

Andanar Hopes ‘Moral Governance’ In BARMM To Flourish

“We are one with our Muslim brothers and sisters in celebrating the Bangsamoro Foundation Day," Andanar said, hoping that the region will continue pursuing moral governance.

After Connecting North And South With Skyway 3, SMC Starts Work To Link East And West

Bukod sa Skyway Stage 3, may inaayos na rin na Pasig River Expressway (Parex).

Antique Asks BFAR To Do Research On Shells As ‘Food Source’

Ligtas pa nga bang kumain ng tahong at talaba?

PSE, PDS Urge Congress To Pass CREATE Bill

The newly proposed Corporate Recovery and Tax Incentives for Enterprises Act (CREATE) aims to make the Philippines an attractive investment hub!

DSWD Sends 3K Food Packs To Flood-Hit Eastern Samar

DSWD has initially delivered 3,000 family food packs to families affected by flooding in Eastern Samar.

Caltex Surges With 11 New Stations In Last Two Months To Start Strong In 2021

Caltex opens new service stations in Pampanga, Pangasinan, Bataan, Batangas, Cebu, and Bukidnon!

Spotlight

102-Year-Old School In Sorsogon Gets New SM School Building

The newly built two-story SM School building is now ready to cater students from Basud Elementary School in Sorsogon City!

World Vision And KOICA Help Over 13500 Families Affected By COVID-19 Pandemic In Marawi

Around 13,500 families in Marawi City received assistance as part of World Vision and KOICA’s health response.

World Vision Alarmed By Students Selling Sensual Photos Online To Support Their Education

Here are some agencies where you can report incidents of child abuse and sexual exploitation:

Make This A Year For Reinvention With Globe And Samsung Galaxy S21+ 5G And S21 Ultra 5G

This is it! The new Samsung Galaxy S21 comes in 5G with Globe!

Lifestyle

POND’S And Shopee Deliver ‘Smarter Skincare’ With First AI-Powered Chatbot

Customers can now interact with PONDS chatbot in Shopee as they launch their 'Smarter Skincare Just For You!'

Max’s All-You-Can™ Is Back And Better Than Ever!

Hindi lahat ng nang-iiwan, hindi na bumabalik. Max’s All-You-Can is back!

Yellow Cab Introduces Its New Thin Crust Pizza, Starting At Just P249

New year new taste. Yellow Cab's New York Style Thin Crust Pizza is now available. The price starts at P249!

Mrs. Garcia’s: The Meat Of The Matter For The New Normal

Looking for fresh and quality meats at affordable prices?

Entertainment

IRL Moves To New Timeslot Beginning January 21

IRL program hosted by Kapuso Gabbi Garcia moves to an earlier timeslot at 5:45 p.m. starting Jan. 21 on GMA News TV.

Space Sweepers Teases An Epic Space Adventure With Song Joong-Ki, Kim Tae-Ri, And More!

Get ready for Netflix's upcoming outer space sci-fi blockbuster Space Sweepers!

GMA Regional TV To Broadcast Dinagyang Digital 2021

Dinagyang Festival goes virtual. Abangan ang full coverage nito sa GMA Regional TV .

More Stories

House Pushes For More Benefits To Solo Parents

Alamin ang mga karagdagang benepisyo para sa mga single parent, hatid ng pamahalaan.

25% Discount Up For Motorcycle Franchise In Biliran Town

Biliran gives a 25% discount for motorcycle franchise and renewal until Feb. 20.

DA, LGUs To Strengthen ‘Plant, Plant, Plant’ Campaign

Alamin paano makibahagi sa 'Plant, Plant, Plant' Campaign ng gobyerno.

PH Covid-19 Recoveries Rise By 324

DOH adds 324 more Covid-19 recoveries pushing the country's overall tally to 466,249.

IRL Moves To New Timeslot Beginning January 21

IRL program hosted by Kapuso Gabbi Garcia moves to an earlier timeslot at 5:45 p.m. starting Jan. 21 on GMA News TV.

Travel

Vaccinated People Still Need To Follow Travel Protocols

Nabakunahan man o hindi tuloy-tuloy pa rin ang pagsunod ng travel health protocols, ayon kay Duque.

Panagbenga 2021 Postponed Due To Pandemic

Walang Panagbenga ngayong taon. 🙁

Radisson Hotel Group Rises Above Challenges To Add 84 New Hotels Across Asia Pacific

Radisson Hotel Group adds 84 new hotels and resorts, covering eight of its distinct brands.

Motoring

Caltex Surges With 11 New Stations In Last Two Months To Start Strong In 2021

Caltex opens new service stations in Pampanga, Pangasinan, Bataan, Batangas, Cebu, and Bukidnon!

MRT-3 Serves Record 157K Passengers Since Covid Lockdown

Kamangha-mangha ang dami ng pasahero ang naitala simula nang magbalik operasyon ang MRT-3 station ngayong taon.

Pangasinan Bypass Road Now Open To Motorists

The 7.17-kilometer bypass road in Pangasinan is now open to motorists.