This phoney baloney GSIS insurance should not be seen as insurance. It is a tax and a pretty small one at that. I pay about 3,000 pesos a year for this "insurance".
In reality, our homes on the base are self-insured, but I question the assertion that homeowners cannot buy private policies with themselves as the beneficiaries. My housing contract doesn't state that and that is the legal document by which I would use to buy the insurance. It states that I am required to buy the GSIS insurance but it doesn't prohibit me from buying additional insurance.
[The Subic Bulletin] As preciously posted the SBMA insurance guidelines document could be a loophole for an insurance company to avoid paying. SBMA should retract that statement so the buildings can be fully insured with REAL policies.
[The Subic Bulletin] As preciously posted the SBMA insurance guidelines document could be a loophole for an insurance company to avoid paying. SBMA should retract that statement so the buildings can be fully insured with REAL policies.
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