I noticed that many people are searching the top 10 life insurance companies in the Philippines. I guess, many of these searches are from ordinary Filipinos who are looking for the best life insurance companies to get their first life insurance policy. This is a clear indication that Filipinos are doing their research first before buying life insurance, after all life insurance is a financial product that would be important for them in the future. They would like to make sure that they are entrusting their future to a stable and credible life insurance company. I myself have life insurance policies from the top 5 life insurance companies in the Philippines. I trust and believe these companies that they will meet their obligations to my family once I leave this earth or become disabled.
Although, it is highly recommended that you get your life insurance policy from the top 10 life insurers in the country, I can safely say that you can get your life insurance policy to any of the 31 life insurance companies authorized by the Insurance Commission to sell life insurance. The Insurance Commission strictly regulates these life insurance companies according to the Insurance Code of the Philippines to protect the public. This government agency makes sure that the insurance companies have enough reserve and capitalization to meet their obligations to their policyholders.
I was able to get a copy of the ranking of life insurance companies based on total premium income or premium collection. You will notice that the companies found in the top 5 are those with aggressive marketing campaigns in television, print media, radio, and internet. I think these marketing campaigns are great because more and more Filipinos would be able to learn the importance of life insurance.
If you like to see the complete list, visit this link. Take note that the insurance companies are also ranked according to assets, net worth, investment at cost, net income, and paid up capital. This is the reason why more than one life insurance companies claim to be number one. For current policy holders, if you do not see your company in the top 10, don’t worry because your policy contract is enforced as long as you pay your premiums. In the end, it is not about the ranking of the insurance company that matter but about the capability of the company to meet its obligations when the time comes.
For Filipinos without life insurance policy, you should get one now because you and your family needs it. Life insurance benefits could not only be enjoyed (by dependents) after the insured death, but can also be enjoyed while he/she is alive. Whole life, endowment, and variable universal policies have savings and investment features that you can use for your retirement, child education and future expenses. It is not too late to get insured, it’s time! You may request a life insurance proposal by filling up the form here (no obligations in your part). I will happily make a life insurance proposal that caters your need. Be insured now or never!
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