List of the best insurance

List of all insurance in the Philippines with reviews and latest news

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What is insurance Philippines?

The insurance Philippines service is a contract with a company, which consists in the fact that people undertake to pay ins. premiums, and the company gives an assurance to cover their expenses (the amount of expenses is stipulated in the contract) in the insured case.
Insurances are different, both for ordinary people and for business owners and large corporations. Not all companies provide all insurances. Usually, the company specializes in certain types: private or business insurances.

How does the insurance industry work?

The industry is much younger than the banking system and therefore, although there are standard approaches to increasing capital, they all continue to improve. Many companies pay people more than they receive in ins. premiums. How do they do it? Companies invest in stocks, short-term bonds.

What is a company agent?

An agent is an intermediary between a client and a company. The agent must know perfectly well all the standard products he sells. The agent informs consumers about all the nuances and is a representative of the company.

What types of insurance Philippines?

Insurance Philippines gives consumers the assurance that natural disasters, illnesses, accidents and other disasters will not catch them unawares. Due to the fact that there are a lot of disasters, insurance Philippines products can be divided into types of risk:

  • 1. Life ins
  • 2. Health ins
  • 3. Educational ins
  • 4. Vehicle and Accident ins
  • 5. Property ins
  • 6. Travel ins
  • 7. Business ins
  • 8. Investment ins.

As you can see from the list, products are designed for both private and business purposes. Private insurance Philippines products are available to any citizen. Business products can accordingly be purchased by business owners. Sometimes business owners offer comprehensive life insurance Philippines to employees as a bonus. Group life insurances are generally more affordable as it is purchased on a wholesale basis.
Comprehensive life insurance Philippines includes:

  • Ins assurance for accidents
  • Advance payment in case of death
  • Coverage when reaching a certain age
  • Coverage for serious illness.

What are the best companies to choose for insurance Philippines?

About 20 large companies are registered and operate in the Philippine. Therefore, the competition is quite tough. How to choose the most effective among them?
The Insurance Act states that an insurer can be a company or any individual who has received a certificate of authority from the Ins. Commissioner. Also in this Act it is said that everyone can be insured, except for the enemy of society.
It turns out that the Act does not oblige insurers to have their own large funds. In such a situation, customers want to have confirmation of the company’s reliability. And the main confirmation of reliability can be the period of the company’s existence on the market. After all, if an organization has existed for a certain number of years, then it is stable and manages its assets well. You can also turn to the number of branches in the organization. Of particular note is the presence of offices in large cities: Manila, Davao, Caloocan, Cebu and others. After all, the opening of offices implies the availability of resources for the organization to maintain it. In addition, this means a large client base, because about 1 million 700 thousand people live in Manila, and about 1 million in Cebu. Thus, in order for a new company to become a leader, it needs to offer customers more favorable conditions. How to determine whether a company will be a reliable partner or not? In addition to the period of the company’s presence in the market, you also need to carefully study its profitability and the size of the investment portfolio. By comparing all these data, we have compiled the Top 5 companies in the Philippine:

What you should pay attention to in the contract

If you use insurance as an investment, then carefully calculate the fees you pay to the fund. As Pam Kruger writes on, the amount of return on investment can be significantly lower if you have not carefully calculated the amount of commission.
Read the agreement carefully and pay attention to the application deadline and the possibility to dispute the claim. The standard term of the contract of insurance Philippines during which the client must notify the insurer about the occurrence of the event is 60 days. For example, billing for therapy can be challenging, and less than 60 days client may not be in time to submit the application. Read in the contract with which medical institutions the insurer works.
Pay attention to the period of notice by the insurer of the client about significant changes. Sometimes it can be 15-20 days. If the client works abroad, then he may not have time to receive a notification and terminate the contract in case of disagreement with significant changes to the contract of insurance Philippines.
Of course, when signing a contract of insurance Philippines, pay attention to the network of branches of the insurer. It is advisable that the office is located near your place of residence or in major cities of the country that can be quickly reached: Manila, Davao, Caloocan, Cebu and others.

Benefits of comprehensive insurance Philippines

Comprehensive insurance usually includes a wider range of risks. So, for example, Comprehensive Car Insurance includes, unlike OSAGO, the following risks:

  • Loss or damage;
  • Liability to third parties;
  • Property damage;
  • Excessive bodily injury;
  • Natural disasters;
  • Accident with a passenger.

Comprehensive life insurance Philippines includes not only death benefit, but also covers the costs of:

  • Illnesses
  • Accidents
  • Disability
  • Medical Reimbursement
  • Hospital Income.

The benefits of such contracts are obvious, because the amount of the premium paid by the client does not increase significantly, and in the event of unforeseen events, client is fully protected. Anyone can make sure that these benefits exist by calculating the costs of paying for several contracts and comparing this amount with the costs of a contract with extended risks.

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