Life, indeed, is unpredictable. Nobody knows what’s going to happen tomorrow. In the world where the only predictable thing is unpredictability, it is best to be prepared. Almost all personal finance gurus recommend getting life insurance. It is considered to be a necessary part of one’s personal finance strategy, and a necessary safeguard in case of unforeseen events like injury or death.
There are a lot of reputable insurance companies in the Philippines you can approach for this kind of financial safety net. These companies will help you determine what kind of insurance is the most suitable for you, based on your income and your needs.
Insurance Companies in the Philippines
Here is a list of the top 5 insurance companies in the Philippines. They are all registered with the Insurance Commission, the top government body protecting the interest of policyholders, so you can be guaranteed of their legitimacy and proven track record in this industry. This list also takes into account the assets, net income and net worth of these insurance companies in the Philippines, therefore all of the firms on this list are of good financial status.
1. Sun Life of Canada (Philippines), Inc.
This insurance company in the Philippines is the life insurance arm of a bigger firm, Sun Life Financial, which offers a wide spectrum of products including pension plans, education plans and mutual funds. Sun Life pioneered life insurance in the Philippines as early as 1895, and remains to be one of the biggest and most reputable insurers in the Philippines. At present, it has almost half a million policy holders—proof that it is among the most trusted insurance companies in the Philippines. It offers individual, variable life, accidental and group insurance products.
Address: 2/F Sun Life Centre, 5th Avenue corner Rizal Drive, Bonifacio Global City, Taguig City 1634, Philippines.
Phone: +63 2 849 9888
2. Philippine American Life and General Insurance Company
Having been in the industry for over 65 years, this insurance company in the Philippines, more popularly known as Philam Life, is also among those trusted in providing financial security. It is currently the biggest insurance company in the Philippines in terms of asset, net worth, investment and paid-up capital. It has also been recognized by various government and media institutions for its reputation and financial performance. It offers a wide range of different products like life insurance, educational plans and health plans.
Address: Philam Life Head Office, Net Lima Building 5th Avenue cor 26th Street, Bonifacio Global City (BGC), Taguig City, Taguig 1634, Philippines.
Phone: +63 2 528 2000
3. Manufacturers Life Insurance Company
Another well-trusted insurance company in the Philippines is this subsidiary of Canada-based firm Manulife Financial, which is considered as among the life insurers in the world. This company has been in the insurance business for almost a century already, so you can be certain that it knows how to give you the financial safety net that you need. It also has several products you can choose from such as life insurance, educational plans, health plans and even retirement plans. Just recently, it offered a product that allows its policy holders to have insurance protection and also invest in the local stock market.
Address: LKG Tower, 6801 Ayala Avenue, Makati City 1226, Philippines.
4. Insular Life
This insurance company in the Philippines is proudly home-grown, and has been impressively serving Filipinos for over 100 years already. It gives policy holders a wide variety of choices to choose from ordinary whole life, endowment, and limited-payment plans, to pension, college education, group, and investment-linked plans. It also pioneered offering industrial life insurance for lower-income Filipinos, and mutualization, which makes policy holders part-owners of the company.
Head Office Address: Insular Life Corporate Centre Insular Life Drive, Filinvest Corporate City 1781 Alabang, Muntinlupa City, Philippines.
Tel: (632) 582-1818
5. Pru Life
Unlike its other competitors, Pru Life is a relatively new insurance company in the Philippines, having been in the business for only two decades. However, it can already match other insurance companies in the Philippines in providing trustworthy life insurance products. In fact, this insurer pioneered investment-linked insurance products in the country. Its portfolio continues to grow every year, and is poised to stay as one of the top insurance companies in the Philippines in the coming years.
Address: 9F Uptown Place Tower 1, 1 East 11th Drive, Uptown Bonifacio, 1634 Taguig City, Philippines.
Phone: +63 2 683 9000, +632 884 8484
In life, it is best to be prepared. These top 5 insurance companies in the Philippines can definitely assist you in making sure that you and your family have a stable financial future.