BSAIS-2nd year

1. Do you believe in insurance, why or why not?

I believe in insurance company, because It has so many benefits that can help you in
the future and will help your family also. Ensuring your assets with insurance policies is very
important and it ensures that you are financially secure to face any type of problem in life,
and this is why insurance is a very important part of financial planning. A general insurance
company offers insurance policies to secure health, travel, motor vehicle, and home. The
convenient part of it is that you can purchase all these insurance policies

1.a If ever, which type of insurance will you get?

There are 3 types that I want to get, these are the Home insurance, Health Insurance and
Life Insurance because it is important, as it protects my family and lets you leave them a non-
taxable amount at the time of death. It is also used to cover my mortgage and my personal loans
if ever. My individual life insurance follows me in the future if ever I retire and no longer
insured by my employer. It will also help me for my financial support in the future.

1.b Which among the insurance companies will you get your insurance?
Among all the insurance companies here in the Philippines, I chose Philippine American
Life and General Insurance Company because Insured members who need financial and medical
assistance must simply present their Phil am. Life membership card to any hospital, clinic or
doctor accredited by Med link. In case their preferred hospital, clinic or doctor is not accredited
with Med link, members can still avail of their and subsequently, reimburse the expenses
incurred. All benefits will be subject to them plan limits.

2. Do you think there is a need for OBUs in the Phil.?

Yes, because it is a great help for OFW’s working abroad and will be
advantageous and beneficial to the country by increasing our links with foreign lenders,
facilitating the flow of desired investments into the Philippines, creating employment
opportunities and expertise in international finance, and contributing to the national
development effort.

2.a What do you think is the reason why OBUs is exempted from the usury law?
OBU’s is exempted from the usury law because it is to reform the taxation of capital
income and financial services in the country, by redesigning the financial sector taxation into a
simpler, fairer, more efficient, and revenue neutral tax system. And desire to increase its links
with foreign lenders and facilitate the flow of desired investments in the Philippines, a sweeping
tax exemption was granted to OBUs