There are many ways that we can protect our loved ones. This includes providing them with security to make sure that they’ll be safe in the years to come. And when it comes to ensuring their financial security, a life insurance plan is the way to go.
Proceeds from a life insurance policy can be used to pay expenses, eliminate debts, cover day-to-day expenses, and even provide additional comfort in people’s lives. And to make sure that they get the most of their life insurance policies, most people approach trusted companies to make sure that their policies are carried out properly and efficiently.
In the Philippines, there are several companies capable of providing quality service when it comes to life insurance policies.
During the previous year, the life insurance industry earned more premium income at P247.72 billion, up by 5.9 percent from P233.92 billion in the previous year. This meant that more people have availed of life insurance policies despite the COVID-19 pandemic.
Recently, the Department of Finance’s Insurance Commission released a list of the Top 10 trusted life insurance companies that people go to.
Sun Life of Canada (Philippines), Inc.
Sun Life of Canada Inc. (Philippines), is a global financial services company based out of Canada that offers a broad range of insurance, retirement, and investment products and services to meet the diverse needs of both individual and corporate clients around the world.
In the Philippines, the company offers a diverse range of insurance, wealth, and asset management solutions that are catered to meet every Filipino’s need for a brighter future.
Philippine AXA Life Insurance Corporation
AXA Philippines offers financial security through its group and individual life insurance as well as general insurance products. It is one of the first to introduce bancassurance operations in the country and is among the pioneers in the investment-linked insurance sector.
AXA also offers a complete range of products for all its customers’ insurance and financial protection needs, including savings and investments, health plans, and income protection.
Pru Life Insurance Corporation of UK
Pru Life UK is the pioneer of insuravest, or investment-linked life insurance products, in the Philippines. It is one of the first life insurance companies to approve the distribution of US dollar-denominated investment-linked life insurance policies in the country.
Since its establishment, Pru Life UK has expanded to over 190 branches in the Philippines, with the biggest life agency force of more than 35,000 licensed agents who are well-equipped to listen, understand, and provide solutions that their clients need when it comes to life insurance.
The company offers life insurance plans that suit the Filipinos’ changing needs to make sure that they’ll be financially secured in the future.
Being true to its cardinal virtue, prudence, Pru Life UK exercises the utmost caution in implementing its products and services, while continuing to innovate, as a way to instill wise conduct among its customers and the public.
Philippine American Life and General Insurance Company
Philam Foundation is the corporate social responsibility arm for the Philam Group of Companies. Established in 1997 to commemorate Philam Life’s 50th Golden Anniversary, the Foundation has then focused its assistance in the areas of Health, Education, Arts & Culture, and Livelihood Development (HEAL).
As one of the leading insurance companies in the Philippines, Philam Life provides comprehensive insurance plans that cover all kinds of life’s uncertainties to secure their clients’ safety and financial security.
BPI-Philam Life Assurance Corporation
Established from a strategic alliance between two leading financial companies in the Philippines, The Philippine American Life and General Insurance Company (Philam Life) and Bank of the Philippine Islands (BPI), BPI-Philam hopes to help Filipinos achieve their dreams through solutions that are accessible, affordable, and personalized.
The company is dedicated to making sure that insurance policies are accessible and convenient for Filipinos.
The Manufacturers Life Insurance Co.
Also known as Manulife, The Manufacturers Life Inurance Co. is a subsidiary of Manulife Financial Corporation, one of the largest insurance companies in the world. With headquarters in Canada, it provides a wide range of insurance, investment, wealth management, and financial planning services.
It gives clients the confidence to make decisions about education, healthcare, investing, or planning for retirement by understanding who they are, simplifying the choices they need to make, and supporting them at every step.
Allianz PNB Life Insurance, Inc.
Since 2016, Allianz PNB Life is among the major life insurers in the Philippines that provide Variable Life products, complemented by a full line of Life protection offerings for individuals and institutions.
The company’s products and services are designed to meet the lifetime financial planning, wealth accumulation, and well-being aspirations of every Filipino family.
BDO Life Assurance Company, Inc.
As a subsidiary of BDO Unibank, BDO Life Assurance Company, Inc. offers a diverse pool of life insurance products suitable to the needs of its clients. It provides protection, education, savings, retirement, and estate planning solutions aimed to create a secure future for its customers and their families.
It also extends comprehensive term life insurance protection for corporate clients.
FWD Life Insurance Corporation
Established in 2013, FWD is an insurance company of the investment company, Pacific Century Group. FWD is geared towards creating new customer experiences by creating easy-to-understand products that are supported by digital technology.
The life insurance company uses a customer-led approach in hopes of changing people’s minds about insurance and provide them with the appropriate service that they need for their financial security.
The Insular Life Assurance Company, Ltd.
Also known as InLife, the company is the first and largest Filipino insurance company and the only mutual company in the Philippines. The company applies over 100 years of experience in financial protection, savings, investments, and retirement to help its clients make confident decisions.
Since the company is proudly Filipino, it remains committed to serving the Filipinos and spreading life insurance benefits to every family.
Our world today is unpredictable with several risks to look out for. Having a life insurance policy has several benefits to secure financial safety for ourselves and our loved ones.
Despite having many insurance companies in the country, it pays to approach a trusted brand that can secure that its clients can reap the rewards of having a life insurance policy. Luckily, the Philippines is not short of choices, making the process of getting life insurance convenient and accessible to those interested.