D. Insurance companies

Question 1

Collect premiums in advance of losses and
need to invest these funds. In addition, some insurance
products, such as whole life policies and annuities, contain
investment accounts in addition to providing risk coverage

Answer 1

Insurance companies

Question 2

is a government agency under the Department of Finance that supervises and regulates insurance, pre-need, and health maintenance organization industries pursuant to Republic Act Nos.10 607, 9829, and Executive Order No. 19 2,series of 2015 .

Answer 2

INSURANCE COMMISSION

Question 3

Insurance touches all our lives in a multitude of ways. It is an essential element in our present day life, securing our standards of living and the stability of our families, as well as our property rights.

Answer 3

INSURANCE COMMISSION

Question 4

REQUIREMENTS/PROCEDURES

Answer 4

company must form a business entity in he Philippines

Question 5

The most common business entity is a

Answer 5

stock corporation,

Question 6

the new corporation needs to register with the

Answer 6

Securities and Exchange Commission.

Question 7

Insurance contracts are highly regulated by the

Answer 7

Insurance Commission.

Question 8

In case the principal has died, a lumpsum amount will be given tot the principal’s familiy

MOST COMMON TYPES OF INSURANCE IN THE PHILIPPINES

Answer 8

Life Insurance

Question 9

You will get benefit in case the policyholder dies, if s/he doesn’t die in the period of coverage, you may have nothing back. The terms depends on you – what age you will purchase or for how many years.

Answer 9

Term Life insurance

Question 10

The inusrance is good for the entire lifetime of the policyholder, However premiums should be pain sometimes until the policyholder dies.

Answer 10

Whole life Insurance

Question 11

nsurance, not only will the policyholder have death benefits but also you can have savings

Answer 11

Universal Life Insurance

Question 12

e is a
bit similar to universal,
yo however, u could
control where to invest.

Answer 12

Variable Life Insurance

Question 13

can also let you cover
your immediate family at an additional
price so that you can also pay less on their
check-ups or incase they get hospitalized.

Answer 13

Health Insurance

Question 14

lets you save money in advance and
you can cash-outs for tuition payments
or school allowance and education
benefits

Answer 14

Educational Insurance

Question 15

case your car
gets damaged or you or your family members
riding the vehicle gets in an accident

Answer 15

VEHICLE AND ACCIDENT INSURANCE

Question 16

The most common insurance for
homeowners is————- in case
of accidents like fire, theft, earthquake,
floods and many more. If your area is
prone to fire or flood, then it is better if you
own this so that if such happens, you don’t
start from scratch

Answer 16

Property Insurance

Question 17

that covers you in
case you will lose your baggage, you’ll
have delays or you get into an accident.

Answer 17

Travel Insurance