All Articles With Author : Venus Zoleta

The latest and the best financial news, tips and tricks.

How to Check Your SSS, Pag-IBIG, and PhilHealth Government Contributions

Is your employer remitting the SSS, Pag-IBIG, and PhilHealth government contributions being deducted from your salary? If your answer is “I don’t know” or “I’m not sure,” then it’s time to start monitoring your government contributions. You need to confirm if your company is up to date in remitting the correct amount of your premium payments to SSS, Pag-IBIG, and PhilHealth. These government agencies require all employers in the Philippines to remit their employees’ contribution payments every month or quarter. However, some employers don’t remit their workers’ government contributions.[1]. Even if payroll deductions are reflected on your monthly payslip, they aren’t an assurance that your employer actually pays your contributions. Check your SSS, PhilHealth, and Pag-IBIG contributions regularly. Yours should be up-to-date and remitted correctly, so you can qualify for housing and salary loans from SSS or Pag-IBIG anytime you need to borrow money for your short-term needs. This will also prevent delays in your benefit and loan processing. How to Check PhilHealth Contribution There are two ways to verify your posted PhilHealth contributions. Either you check the PhilHealth website or call the agency’s hotline. 1. View Your PhilHealth Contributions Online To access PhilHealth’s Member Inquiry facility, you have to register for an online member account first. Simply go to the online account registration form, enter your basic information (including your PhilHealth number), assign a password, type the security code, and click Create Account. Then you’ll need to activate your account by clicking on the link in the email from the PhilHealth Member Information System. Once you’ve activated your online account, you can already check your PhilHealth…

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RFC Loan Guide: How to Get an Online Loan from Radiowealth Finance

Sometimes, cash-strapped people tend to borrow money from the first lender they come across. It’s understandable if the borrower is dealing with an emergency. But if you have some leeway, you’ve got to take the time to shortlist quality and reputable loan companies. In case you’re in this process, make sure that Radiowealth Finance Company (RFC) is part of your list. RFC is one of the most reputable and longstanding loan institutions in the Philippines. Founded in 1935, the company has gone a long way from being the pioneer of appliance financing to becoming a lending institution that offers a wide range of loan products in the Philippines. Here’s everything you need to know about this online loan, so you know if it’s perfect for you. We’ve also included a quick RFC loan application guide should you decide it’s the best loan for your needs. What is an RFC Loan? An RFC loan is an online loan from the Radiowealth Finance Company (RFC)[1] that gives Filipinos an affordable and easy way to get personal or business financing. RFC has been operating for over 50 years, starting with providing car loans and appliance loans—the first financing company to offer these financial products—in the 1960s. Radiowealth Finance Company seeks to empower and help underserved Filipinos to optimize their potential and achieve growth through alternative sources of funding. Because Radiowealth Finance is a non-bank financial institution, its main stakeholders are Filipinos who don’t have access to banking services or can’t avail of banks’ credit and loan products because of lack of financial documents…

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Complete PSA Online Application Guide: How to Easily Get a CENOMAR or Birth, Marriage, or Death Certificate

Too busy to apply for a birth, marriage, or death certificate at a PSA Serbilis Center? A convenient alternative to a walk-in application is using the PSA online application service. This is also a safer option compared to going outside to process your PSA online application. Through PSA online application, you can skip the long lines and stressful commutes. Applying and paying for civil registry documents from the Philippine Statistics Authority or PSA (formerly National Statistics Office or NSO) can be done over the internet. Your requested certificates will be delivered to your home or office after several days. Even if you’re based abroad, you can still request documents via PSA or NSO online and have them delivered to your preferred address. Save yourself the trip and keep safe from COVID-19 by getting your PSA certificate online either through PSA Serbilis and PSAHelpline.ph. Here’s a quick walk-through of each PSA online process. PSA Online Application via PSA Serbilis What is PSA Serbilis? The PSA Serbilis website[1] (formerly e-Census) is an online facility that enables Filipinos to order a birth, marriage, or death certificate or Certificate of No Marriage Record (CENOMAR) and have it delivered anywhere in the Philippines or abroad. The PSA handles the site directly. Read more: 16 Valid IDs in the Philippines You Need to Have How to Get a Birth, Marriage, or Death Certificate or CENOMAR Online via PSA Serbilis Here are the detailed steps to get your needed document from the PSA online: Click the “Click here to request now” button on the PSA Serbilis homepage….

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Typhoon in the Philippines: Tips and Reminders to Keep Your Family Safe During the Pandemic

Filipinos are known for being resilient in the face of a storm, literally and figuratively. When you live in a country where natural disasters happen quite frequently, you just have to be tough and remain faithful.  Although Filipino resilience is legendary and admirable, typhoon preparedness is what can minimize its impact on lives and properties. Knowing what to do before, during, and after a typhoon will protect you, your family, and your home. Aside from minding the four Ps of disaster management (predict, plan, prepare, and practice), here are other ways you can keep your family safe from typhoons during this COVID-19 pandemic. What to Do Before a Typhoon in the Philippines Here’s a checklist of the things you need to do when there’s an upcoming typhoon in the Philippines. Monitor weather reports and don’t ignore rainfall warning alerts you receive through text. Make your own lifeline kit[1] consisting of essential items like food, money, documents, and toiletries that should last for two to three days. Ensure you have enough food and water supply. Keep the following items handy in case of a power outage: battery-operated radio, flashlights, spare batteries, rechargeable lamps, and candles. Check your home for anything that needs to be fixed or secured, such as a leaky roof and trees that need to be trimmed. Park your car in a higher place (like in a mall’s parking space) if you live in a low-lying area. Secure your pets in a safe place. Evacuate immediately and calmly—if there’s an order from your local government unit or if you…

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Study Now, Pay Later: How to Get a Student Loan in the Philippines

About 44,000 college students[1] were expected to have stopped schooling in 2020 amid the pandemic. Most of those who might not have enrolled last year said this was due to the economic crisis since most parents have lost their jobs. This year, there’s no reason for you to be left behind because you have alternatives to explore for funding your college education. Now more than ever, student loans in the Philippines can help financially challenged families. Undergraduate students who may have been declined scholarships and grants can seek refuge from student loans to pay for tuition, gadgets, school equipment, and other costs of homeschooling like internet connection. Whether you’re a student or a parent, now is the time to take advantage of an education loan in the Philippines that can help those who are eager to continue their college education despite the financial challenges of the pandemic. What is a Student Loan? A student loan is an amount borrowed to pay for the cost of a college education. Also called an education loan, tuition loan, or tuition installment plan, this type of loan usually covers tuition and other school fees, books and supplies, allowances, student accommodations, and other school expenses. Students who need financial assistance (or their parents and guardians) may apply for student loans in the Philippines. Unlike scholarships and grants, student loans must be paid back in monthly installments, plus interest, over the entire loan term. Some lenders allow student-borrowers to fully repay their loans after they graduate or find a job. Scholarships, Grants, and Student Loans: What’s…

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Business Loans for Startups in the Philippines

Finding good sources of funding is a critical step in starting a business. A small business loan from the government, a bank, or a private lender is one financing option for budding business owners. A business loan in the Philippines comes in a variety of types that suit different business requirements. Before you start searching for the right startup business loan, it helps to have an idea of the types of business loans for starters. Doing so helps you understand your options better and easily find the loan that matches your needs. Below are the basic business loan requirements in the Philippines and the different types of loans for every business. What is a Business Loan? Startups need funding or capital to begin their operations and start earning a profit. Banks and financial institutions lend this money in advance to these businesses through a business loan. In turn, lenders collect payments with interests based on the agreed-upon payment schedule and lending agreement. What is the Difference Between Business Loan, Consumer Loan, and Personal Loan? The purpose of a business loan is to fund a business need. It may be used for business expansion or to help pay for operating expenses. A business loan typically offers higher loanable amounts and has more documentary requirements because of the larger funding required to set up a business. A consumer loan, on the other hand, is a general type of loan. Personal loans, housing loans, and auto loans are examples of consumer loans. You can apply for any of these consumer loans to purchase…

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The Complete Guide to Claiming Your Pag-IBIG Contributions

You’ve diligently paid your Pag-IBIG contributions throughout your entire career. You’re probably wondering where your contributions went and whether you’ve already contributed enough. Most importantly, you’re also probably very eager to know how to withdraw Pag-IBIG contribution.  This detailed Moneymax guide will teach you how to claim your money from the Pag-IBIG Fund and what you need to start the claims process. What is Pag-IBIG Provident Benefits Claim? The Pag-IBIG Provident Benefits Claim is a privilege granted to members who have met the eligibility requirements to withdraw their full contribution amount plus interests earned over the years. In short, this Pag-IBIG benefit is every member’s reward for contributing to the Fund.  The Pag-IBIG Provident Benefits is part of the Fund’s Savings Program composed of member contributions made through automatic salary deduction or voluntary contribution.  Employed or unemployed Pag-IBIG members who have fulfilled 180 to 240 contributions can withdraw their savings in compliance with the claim’s terms and conditions.  How and When Can I Withdraw my Pag-IBIG Contributions? If you’ve been paying your monthly contributions for several years now, you may be eligible to file for a Pag-IBIG Provident Benefits Claim already. Here are different ways to do it. 1. Optional Withdrawal  The optional withdrawal of Pag-IBIG contributions can be done by members who meet the following requirements: Pag-IBIG member for 15 years already before the planned withdrawal  No outstanding loan with Pag-IBIG upon submission of Provident Benefits Claim 180 continuous monthly contributions Note: Pag-IBIG approves optional withdrawal only if you have contributed continuously or without any gaps from the time…

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PCSO Lotto in the Philippines: Your Guide to Playing and Claiming Lotto Winnings

Winning the lotto is a fantastic dream if you’re optimistic or a grand plan if you’re persistent and willing to spend a lot of money on chance. Regardless, the fact remains that the odds of being a multi-millionaire by betting on your lucky numbers are elusive. But that doesn’t mean that you shouldn’t try like the millions of Filipinos hoping for a better and much more comfortable life. You can’t deny that the lotto culture is big here in the Philippines. Even those who don’t usually join in games of chance will gladly play the lottery if the pot prize happens to be inconceivably big. If it’s your first time playing the lotto, you’ve come to the right place. We’ve pulled together a simple yet informative guide on playing the game. And because there’s a chance (albeit rather small, let’s face it) that you may win, we’ve also come up with a short guide on how to claim lotto winnings. What is PCSO? First, you have to understand that the game you’re playing actually has a good impact on society. This is because the lottery is managed by the Philippine Charity Sweepstakes Office (PCSO). The PCSO is a government agency that raises and provides funds for health programs, medical assistance, and charities in the Philippines.[1] The agency does that by conducting sweepstakes, races, and lotteries. The money made from selling the tickets is used for funding various medical projects and activities that are beneficial to Filipinos. How Does Lotto Work in the Philippines? The PCSO offers five major lotto games:…

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Transferring or Receiving Money? Check This Complete SWIFT Code and Bank Code List

When making international money transfers, you’re usually required to enter the bank SWIFT code (or bank code for PayPal transactions). Just what are these codes and what are they used for? How can you find them? Fortunately, these unfamiliar codes are actually simple to decode. This guide provides everything you need to know from SWIFT code meaning to the different SWIFT codes and bank codes in the Philippines. SWIFT Codes (BIC) in the Philippines What is SWIFT Code? The SWIFT code is an international code used for identifying business parties—usually banks—and routing financial transactions worldwide. This ensures that funds are transferred quickly and securely to the right bank. This code is also known as BIC (Business Identifier Code), BIC code, SWIFT-BIC, or SWIFT ID. It consists of eight to 11 characters with the following format: Four-character bank code Two-character country code Two-character location code Optional three-character branch identifier For example, BPI SWIFT code: BOPIPHMM BOPI = Bank of the Philippine Islands PH = Philippines MM = Metro Manila SWIFT stands for the Society for Worldwide Interbank Financial Telecommunication, a network based in La Hulpe, Belgium that manages SWIFT codes. Read more: Types of Bank Accounts in the Philippines: Which One is Right for You? When Do You Use a SWIFT Code? The BIC tells banks and remittance companies where to send the money. This is why you need this code each time you transfer funds internationally. If you’re sending cash abroad, you need to get the recipient’s bank SWIFT code before you can make a money transfer. On the other hand, if you’re…

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Sangla in the Philippines: What You Must Know Before Pawning Valuables

At some point in your life, you might have been in an emergency or a desperate situation where you needed instant cash. Instant cash, in this context, means money that you’ll be able to pull out of somewhere without filling out mountains of application forms or getting the approval of your employer. While salary loans are fast, they’re not quick enough. So, in such cases, your best bet is a pawnshop. Filipinos have come to view pawnshops as a reliable best friend who is always ready to lend help. Proof of this is the number of people who have gone to pawnshops during the pandemic.[1] While you may already know how a pawn loan works, you may still have no idea about its breadth and scope. Treat this guide as your refresher with additional information and some tips that will help you make a sound decision should you need to apply for a pawn loan. How Does a Pawn Loan Work? A pawn loan is a type of loan that requires collateral. This means you need to turn over something valuable you own to the pawnshop. If the shop is interested in it, they will offer you a loan. Remember, though, that the amount of money the shop will loan to you will depend on their appraisal. While pawnshops offer quick cash, the catch is you’ll also have to pay the interest imposed on the loan. You’ll only be able to get your item back once you have fully paid the loan. Read more: Emergency Loans and Other Convenient Ways…

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Everything You Need to Know About the PhilSys National ID

Before the Philippine Identification System Act (Republic Act 11055)[1] was signed into law by President Duterte in 2018, the Philippines was just one of the few countries that didn’t have a national ID system in place. And while the country’s national ID system hasn’t fully materialized yet, the government has been persuading people to enroll since the registration is already open to the public. The National ID System or PhilSys is still in its infancy. But we can expect great things from it when it is successfully rolled out. If you’re planning to get one, let this article give you a quick walkthrough of the national ID registration process and some important things you should know. What is PhilSys? The Philippine Identification System (PhilSys), also called the national ID system, is the central identification platform of the government for all citizens and foreign residents in the Philippines. It’s established under the Philippine Identification System Act or Republic Act 11055. The concept behind PhilSys is simple: “It will only answer ‘Who are you?’ and ‘Are you who you really say you are?’” This is according to the Philippine Statistics Authority (PSA), the national ID system’s chief implementor. What is a National ID? The Philippine Identification Card or the PhilID is a nontransferable identification card that serves as a valid proof of identity for people registered under the PhilSys. While the national ID is considered an official government-issued ID in the Philippines, the PhilID is not meant to replace other existing valid IDs used for a purpose other than identity verification. These government…

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[Battle of the Brands] Globe vs Smart: Which is the Better and Faster Mobile Network?

It’s either you’re a Globe user or a Smart loyalist—that’s the reality many of us have faced for the longest time. After all, these two telecommunications juggernauts are the only ones dominating the game. Globe Telecom, which is owned by the Ayala Corporation, is undoubtedly one of the biggest and most profitable companies in the country. As of 2020, it has more than 76 million subscribers.[1] PLDT-owned Smart, on the other hand, rallies behind. Yet, it racked up 72 million users last year.[2] But things are certainly about to change with the entry of DITO Telecommunity, the third major telco player. It has already launched its data and basic text and call services, and it may start offering broadband services come 2022.[3] But for now, let’s just focus on the duopoly of Globe and Smart. This edition of the Battle of the Brands will compare the two networks’ prepaid and postpaid mobile services. This comprehensive Smart vs. Globe guide will help you decide whether it’s much wiser to stick with your current network or make the switch. Additionally, we’ve also looked into the travel SIM packages offered by these companies to help OFWs/balikbayans and foreign tourists decide which service is much better for them. Smart vs Globe Prepaid Services Prepaid Rates When it comes to prepaid offerings, both networks have almost identical services. They differ only in terms of text roaming rates. Globe has fixed rates per continent/region. Smart’s text roaming rates, on the other hand, depend on the country you’re sending your text to; rates can reach up to…

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A Complete Guide to PhilHealth Voluntary Membership Registration

As of June 16, 2021, the World Health Organization listed 5,389 new COVID-19 cases in the Philippines.[1] This number will keep on changing depending on how Filipinos are protecting themselves against the virus. Indeed, life is not certain. But if there’s one thing this pandemic has taught everyone, it’s the importance of having a health insurance plan.   PhilHealth is the government arm responsible for providing Filipinos with medical assistance and health benefits. For employed PhilHealth members, their company’s HR department handles the application requirements and process, as well as contribution payments. For the unemployed and members of the informal economy, application and membership contributions are done by the member under PhilHealth voluntary membership.  What is PhilHealth Voluntary Membership? PhilHealth voluntary membership refers to the privilege extended to individuals who are not formally employed by a registered company or by an employer in the Philippines. Unlike employed individuals who get automatic membership, voluntary members register and pay for their contributions on their own.  Who Can Apply as a PhilHealth Voluntary Member? Any Filipino who doesn’t have a fixed employment term and is not a senior citizen, indigent member, or sponsored member can register as a voluntary member. Collectively categorized as members in the informal economy, qualified voluntary PhilHealth members include the following: Overseas Filipino Workers / Migrant Workers Filipinos working in other countries are eligible to apply for PhilHealth voluntary membership. These can be documented and undocumented OFWs who are not citizens in their current location. Informal Sector These are self-earning individuals who produce or deliver goods and services. They have…

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DTI Business Registration Guide for Entrepreneurs in the Philippines

What’s in a name? In a business, it means a lot. Your business name is your company’s branding, so it should catch attention and can be easily recalled. A business without a name is barely a business because it doesn’t have an identity that customers can remember. Moreover, two businesses with identical names can confuse potential customers and might put all marketing efforts to waste. Thus, the Department of Trade and Industry (DTI) encourages every entrepreneur to get a DTI Certificate of Registration. Aside from spending time coming up with a name for your new business, you also need to register it with the DTI, if you’re a sole proprietor. You can never imagine how having a unique business name duly registered and trademarked can create an impact on realizing your dream business. For instance, in March 2021, Prince Harry and Meghan Markle were in a dispute with a Filipino entrepreneur after discovering that a DTI registration application was submitted for the term Archewell Harvatera.[1] The application was opposed by Harry and Meghan’s Cobblestone Lane LLC. What is a Business Name? A business name is any name that you use to connect with your business. Technically, it refers to the word or words that your potential customers can associate with your products and services. Even a franchise business requires the franchisee to come up with a distinct trade name. For example, a typical Pinoy would normally buy Colgate from a sari-sari store. When asked which type of Colgate he would want to purchase, he would reply with the name of…

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10 Steps to Starting an Online Business in the Philippines

Planning to make money at home by starting an online business? That’s a bold move you’re making, but guts alone will only take you so far.  That’s because many other things make a new business work. So many that they can easily overwhelm first-time entrepreneurs. It doesn’t help that 30% of startups fail[1] in their first two years. While the numbers may sound discouraging, they can also motivate aspiring small business owners to be careful and strategic in their every decision and action. The key to the success of your online business is starting it right. Make the process less overwhelming and more systematic. Here’s a comprehensive guide to starting an online business in the Philippines. Why You Should Start an Online Business Today  Still on the fence about starting an online business? These reasons should convince you to start an online business today. Easy and Affordable to Set Up You should start an online business because of the endless possibilities. Moreover, starting an online business is inexpensive and easy. You can get your online store running with just a few clicks and just a small capital.   Flexible Work Hours and Location An online business also offers flexible work hours. Work on weekdays or weekends, morning or night, as long as you have all the tools you need and an efficient way of running your business. When you have your own online business, you’re not tied down to one location. As long as you have internet access, you can run your online business from anywhere. Ability to Maximize Profits Your…

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Common Personal Loan Application Questions You Need to Prepare for

Applying for a personal loan is like any job application. As a prospective borrower, you do your best to prove you’re a worthy candidate for the lender’s money. The loan application form is your resume, and the requirements you submit are like your portfolio. And then there’s the dreaded interview portion. Are you ready for it? Aside from the information you provide in the application form, the lender will need to talk to you in person or over the phone to verify your eligibility and documents, especially if you’re applying for a business loan. This is part of the background check or credit investigation that banks and lending companies conduct to determine a borrower’s creditworthiness.[1] It’s also an opportunity for both parties—the lender and the borrower—to ask personal loan questions and make sure they’re fit for each other. You may be even asked to complete a credit investigation questionnaire. Before that important call props up, anticipate the questions that the lender might ask, come up with sensible answers, and rehearse with a friend if you must. It’s better to be over-prepared than be caught off guard with an unexpected question during your interview. Credit Investigation Questionnaire and Interview: 9 Personal Loan Questions to Expect Here are the personal loan questions a lender typically asks that you should be prepared to answer. 1. Can You Confirm Your [Personal Information]? The first personal loan questions that a loan officer or agent asks have to do verifying your identity. The lender has to make sure that you’re indeed the person who filed a…

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Avoid Maxing Out Your Credit Card with These Tips

When used responsibly, credit cards can help you manage your finances and fund unexpected expenses such as medical bills or repairs around the house. Some credit cards even offer rewards, cashback, or miles that can maximize the money you’re spending.  But if you keep using your card, you may easily end up with a maxed out credit card. The thing is, you may not always know that you’re close to reaching your credit card limit. Sometimes, you’ll only realize it when you get charged an overlimit fee or when your next credit card purchase gets declined.  This is just one painful consequence of maxing out your credit card. What you don’t want is to start accumulating credit card debt because of your maxed out credit card. Avoid such a credit card mistake before it’s too late. What is the Meaning of a Maxed Out Credit Card? Simply put, maxing out a credit card is using up its credit limit or reaching the maximum amount that you can spend on your card. For example, if your credit limit is PHP 50,000 and your outstanding balance is PHP 50,000, then you have maxed out your credit card. Is It Bad to Max Out a Credit Card? Ideally, you’ll want to keep your credit card balance below your credit limit. However, unexpected expenses happen, which may cause you to use your credit card and max it out. But yes, using up your credit limit is bad for your finances.  What Happens When You Max Out Your Credit Card?  Sometimes, it takes several credit…

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Personal Loan Fees and Charges to Consider Before Borrowing Money

Choosing the best loan for personal use isn’t as simple as comparing interest rates and monthly installments. You also need to consider the personal loan fees and charges that add up to the cost of borrowing money. Some of these fees are avoidable while others aren’t. Taking all these factors into account gives you a better idea which of your options will fit your budget and won’t charge you with expensive fees. Ultimately, this will keep you from incurring debt over time. Personal Loan Fees in the Philippines Effective Interest Rate: 10% to 30% The effective interest rate (EIR)[1] is “the rate that exactly discounts estimated future cash flows through the life of the loan to the net amount of loan proceeds,” as defined by the Philippine Accounting Standards. The Bangko Sentral ng Pilipinas (BSP) uses this EIR definition as well. Put simply, it’s the rate that measures the actual cost of borrowing money. Read more: Need Cash? Check These Options for Easy Loan Application in the Philippines 9 Salary Loans to Consider for Financial Emergencies Loans Without Bank Account: How to Get One in the Philippines Loan Fees and Charges Included in the EIR Computation Personal loans with low interest rates in the Philippines have EIRs ranging from 10% to 30%. The EIR includes monthly interest charges and service fees such as personal loan processing fees and documentary stamp tax. Here’s a closer look at these personal loan fees. 1. Monthly Interest Charge: 1.2% to 2% This is the interest rate applied to the total amount due or outstanding…

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[Battle of the Brands] Foodpanda vs GrabFood: Which Food Delivery Service is Better?

Can you imagine your life now without your favorite food delivery service? It’s undoubtedly hard, especially knowing that all your cravings, regardless of time and space, can be satisfied with just a few taps on your smartphone. You may not realize it, but food delivery service is among the most significant breakthroughs in the last decade. Its importance has been further highlighted during the COVID-19 pandemic. No one wants to risk their safety by going out, so many just opt to have their food delivered right to their doorstep. When it comes to this, a lot of people count on two popular food delivery services: Foodpanda and GrabFood. Keep reading this Foodpanda vs GrabFood comparison review to find out which of them is better. The Difference Between Foodpanda and GrabFood Two of the biggest food delivery services in the Philippines today are Foodpanda and GrabFood. But in recent years, GrabFood has been the consistent top-of-mind choice among consumers, based on research by Kantar TNS.[1] Launched in the Philippines in 2018, GrabFood is relatively new in the industry yet it has already amassed a large following. It’s the food delivery arm of the Singaporean transport network company Grab. On the other hand, Foodpanda has been operating in the Philippines since 2014. It’s part of Delivery Hero, a multinational online food delivery service based in Berlin, Germany. Unlike GrabFood, Foodpanda’s business is solely dedicated to delivering food. In this Battle of the Brands edition, you’ll see which of the two has a more competitive edge. For a more objective judgment, this Foodpanda…

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Step-by-Step Guide to Car Insurance Renewal in the Philippines

Need to renew your car insurance? This is the best time to review your policy and make necessary changes to it, so you can save money on car insurance. Unlike when you bought your first policy, you now have a better idea of what you really need for insuring your vehicle. So take it as an opportunity to choose the most suitable car insurance policy for you. Here’s a complete guide on how to renew car insurance in the Philippines. When Should I Renew my Car Insurance Policy? Most car insurance policies last for a year, which means yours will likely renew 12 months from when your policy started. For example, if your policy’s effectivity date is June 1, 2020, its car insurance renewal due date would fall on June 1, 2021. If you can’t remember your insurance plan’s effectivity date, look for it on the copy of your policy. You may also call your insurance provider or broker to ask when your policy is up for renewal. How to Renew Car Insurance in the Philippines Should I keep my existing policy or shop for a new one? Is it time to change my car insurance provider? How can I be sure that my renewed policy better fits my needs this time? You’ll get the right answers to these questions, as long as you take these steps before and while renewing your car insurance policy. Here’s your guide to the car insurance renewal process. 1. Review Your Policy Go through your car insurance policy—there might be details that are actually…

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