Transport chiefs mull mandatory life insurance for all drivers

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LTO Proposes Mandatory Life Insurance For All Drivers in Philippines – www.philippineslifestlye.com

The Land Transportation Office in the Philippines has proposed a mandatory life insurance coverage for all drivers in the country. 

“The proposal was from the Land Transportation [Office],” Insurance Commissioner Emmanuel Dooc told reporters.

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Dooc said LTO revived an old proposal for mandatory life insurance coverage for drivers. “Well, if the car gets an insurance, the driver should also be insured,” Dooc told the group.

Dooc also asked the LTO to draft a new issuance because of their outdated documents.

“We asked them to create a new issuance. I think it is in the process,” he said.

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Dooc also said that the new police should be investigated for the benefit of the drivers, especially in terms of premium payments. He noted that for those with money the small amount of premium would be okay, for the poor that would not be so good. 

Dooc said under the proposal, the premium of the life insurance would be paid together with other fees when renewing their driver’s license.

“We do not know yet how much will be the premium. But, it should not be very expensive.”

It appears that the expat and foreign communities should prepare themselves for yet another fee to pay out during their up and coming visit to the LTO. 

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