Deposit Insurance

Deposit Insurance is provided usually by a government agency to depositors against risk of arising from failure of a bank or other depository institution. In addition, deposit insurance is mandatory and it pays claims from a pool of funds to which every depository institution regularly contributes. However, it covers only a fixed maximum amount per account holder.

The main purpose of deposit insurance varies from one country to another but in most cases they are designed to protect less financially sophisticated depositors and to contribute to financial stability in an environment where banks are allowed to lend, or use otherwise, most of the money that they receive as deposits instead of safe-keeping the full amounts.

In fact there are countries with more than one deposit insurance system in operation and to mention Austria,Canada (Ontario & Quebec), Germany,Italy and the United States.

Travel Insurance

Are you planning to travel anytime soon for a vacation? Or maybe traveling is one of your hobbies. Well, that's great! You can see the beauty of mother world. But before leaving on vacation, make sure you have this adequate insurance. Going for vacations can sometimes cost thousands of dollars so it is very important to have the proper insurance protection in case the cruise or tour operator goes bankrupt or you need to cancel the trip due to illness or other unforeseen events.

Actually there are four major types of travel insurance, although you can also purchase packages that offer several options, including Trip Cancellation, Lost Baggage, Medical, Dental, Emergency Evacuation, 24 Hour Traveler Assistance, Baggage Delay, Travel Delay, and Accidental Death Coverage. Some policies also have options for Collision/Damage coverage for rented cars.

1.)Trip Cancellation Insurance
Here they will reimburse you if the cruise line or tour operator goes out of business. Cancellation of the trip due to sickness, a death in the family or another calamity listed in the policy is covered.

Moreover, if you or an immediate family member becomes seriously ill or is injured during the trip most policies would reimburse you for the unused portion of the vacation.

2.) Baggage Insurance or Personal Effects Coverage
This provides the coverage if your personal belongings are lost, stolen or damaged during the trip.

Before purchasing this type of coverage, find out first if how much insurance would the airline or trip operator provides for your belongings.

In addition to that, check your homeowners or renters policy. It will usually provide coverage for off-premises theft. Therefore, if your luggage is stolen, your insurer will pay to replace it, less the deductible. And if you are traveling with expensive electronic equipment, jewelry or sporting gear, it might be more cost-effective to purchase a floater or endorsement to your homeowners or renters policy.


3.) Emergency Medical Assistance
This provides insurance and medical assistance for travelers. It would cover you if you had to be airlifted off a mountain due to a skiing or hiking accident, or if you had to stay for a prolonged period of time in a foreign hospital. It would also provide coverage if you got seriously sick or were injured and needed to be flown home. Some commercial airlines require very sick passengers to travel on a stretcher with a doctor. This means that you might have to purchase 10 or more seats on a plane at a possible cost of over $10,000.


Take note of this also, before purchasing this type of coverage, check with your own health insurance carrier. Find out what type of coverage you have when traveling abroad and if there are any limits. Ask also if the policy will pay to fly you home or to a country with first-rate medical care.


4.) Accidental Death
This provides a variety of coverage if you or a family member die on the trip. If you have a good life insurance plan or made other financial provisions for your loved ones, this may be duplicate insurance.

HomeOwners Insurance

Do you own that house where you are living right now? If so, do you have already this homeowners insurance? If not yet you need to get one. It's true that we have to work harder in order to avail a house that we could really say I owned this place and not rented. It's a big pride for us if we can buy a house, am I right? Some people get into debt as long as they have their own house because that property is really a big investment. Besides, you can pass this from generation to generation.

So what is this Homeowners insurance? This type of insurance provides financial protection against disasters. A standard policy insures the home itself and the things you keep in it.

Homeowners insurance is a package policy. This means that it covers both damage to your property and your liability or legal responsibility for any injuries and property damage you or members of your family cause to other people. This includes damage caused by household pets.

Damage caused by most disasters is covered but there are exceptions. The most significant are damage caused by floods, earthquakes and poor maintenance. You must buy two separate policies for flood and earthquake coverage. Maintenance-related problems are the homeowners' responsibility.

Vehicle Insurance

Vehicle insurance is also known as auto insurance, car insurance, or motor insurance. It is an insurance purchased for cars, trucks, and other vehicles. Its primary use is to provide protection against losses incurred as a result of traffic accidents , and against liability that could be incurred in an accident.


Vehicle insurance can cover some or all of the following items

*The insured party

*The insured vehicle

*Third parties ( refer to car and people)

*In some States coverage for injuries to persons riding in the insured vehicle is available without regard to fault in the auto accident (No Fault Auto Insurance)

Different policies specify the circumstances under which each item is covered.Like for example, a vehicle can be insured against theft, fire damage, or accident damage independently.

Life Insurance

Life insurance is a protection against financial loss resulting from death. It is an insurance company's promise to pay your beneficiary a specific amount of money when you die in exchange for timely payment of premiums.

It is clearly stated what it means. So think and ask yourself, Do I need it? and why? We all know that we're just human have only one life and borrow it from God. We owe to him everything and we don't know when He will going to get it back. So we should always be prepared for that time for him to get us on this world. And the best thing to do is to get a Life Insurance. Why? That question will be answered below:

The death benefit may be used as:

*Replacement of income the family would need to maintain their standard of living after the death of a wage earner.

*Payment to the mortgage loan and other personal and business debts or to create a rent fund.

* To Create a fund for children's education.

* To pay final expenses, such as funeral costs and taxes.

*To create a family emergency fund or a fund for a family member with special needs.

Health Insurance

Let me ask you first, do you already have an Health Insurance? If none, when are you planning to apply?

Anyway let's define it first. Health Insurance is a type of insurance against expenses incurred through illness of the insured. So since we are only human and we don't know when we will get sick this type of insurance is really helpful to us.

Company that offer Health Insurance:

1.) Philippine Health Insurance - in the Philippines

2.) PHILAM LIFE

3.) IHI- International Health Insurance

What is an Insurance?

Defining the word insurance, it is a promise of compensation for specific potential future losses in exchange for a periodic payment. It is also designed to protect the financial well-being of an individual, company or other entity in the case of unexpected loss.

So base on the definition insurance gives an assurance to the individual, company, or other entity to the unexpected loss or damage. How about you guys what kind of Insurance do you have?

So far I know there are various types of Insurance and to mention some:

1.) Life Insurance

2.) Health Insurance

3.) Auto Insurance

4.) Home Owners Insurance

5.) Renters Insurance

6.) Long Term Care Insurance

7.)Disability Insurance

8.) Group Health Insurance

9.)Dental Insurance

10.) Deposit Insurance

11.)Travel Insurance