According to the latest announcement of the Insurance Commission, Sun Life of Canada Philippines, the oldest life insurance company in the Philippines, again dominated the Philippine insurance market in 2014 based on total premium income. Premium income generally refers to the money an insurance company receives by charging premiums to clients. The company that received the highest premium income in a given year can be considered the industry leader. Insurance companies compete to get the top spot. Sun Life has been holding the number 1 spot since 2011 after displacing Philam Life which has been the market leader for many years. Philam is the second placer last 2013 but now overtaken by Philippine AXA Life by 37 Million pesos. Philippine AXA Life has been very aggressive in its marketing campaigns.
It is interesting to note that Sun Life has 10 billion pesos margin from both the second and third placers: AXA and Philam. Will this margin increase or decrease next year? Will Sun Life retain its position in 2015? It is exciting to know the ranking next year. According to Philstar, the life insurance industry reported total premium income of P157 billion last year, roughly 8% lower than the P170 billion in 2013. Traditional policies (whole life,endowment plans, term plans) last year amounted to P50 billion, up from P48.3 billion in 2013. Variable life sales fell from P121 billion in 2013 to P107 billion last year.
While other companies are strong in traditional insurance products, Sun Life is strong in the Variable Life Insurance (VUL) market. VUL is a life insurance plan with life insurance and investment (mutual fund). Sun Life’s most popular VUL plans include Sun Flexilink, Sun Maxilink Prime and Sun Maxilink Bright. In VUL, part of your payment will pay the fees and insurance cost and part of it will be invested in a fund of your choice: equity fund, balanced fund or bond fund. The better returns of VUL funds compared to traditional plans attract the booming middle class in the Philippines. Many Filipinos are no longer attracted to the insurance plans with guaranteed cash values but low interest returns. The booming Philippine economy makes investment-linked (VUL) products attractive for Filipino plan holders.
For 2015 ranking of life insurance companies in the Philippines, visit this link.
Latest posts by Raymund Camat (see all)
- How To Become A Sun Life Financial Advisor - December 19, 2021
- Importance of Emergency Fund During a Pandemic (COVID-19) - March 18, 2020
- The Importance of Having an Emergency Fund - September 8, 2019
- Whole Life Critical Illness Insurance Plan – 100 Critical Illnesses Covered Up To Age 100 - September 8, 2019
- Benefits of Having a Life Insurance Plan with Investment - September 8, 2019
Magtatanung lang po sana about VUL.interested po kasi ako sa SunLife.. but now po.wala pa po akong 7k on hand.. salamat po 🙂
Ano po ang tanong nyo?
Hi Raymund,
Nag meet kame ng financial adviser 3 days before ako bumalik sa abroad, tas nong nasa abroad na ako, I sent to her the signed proposal dated nong time na nagkita kame, that’s less than a month from the time we meet.
My question is it Valid or Not?
Please ask the head office po. I am not authorized to answer it. Thanks
I just want to share my experience as FInancial Advisor, one of my client from abroad call me with willingness to get an insurance/investment product. Honestly hindi ko siyang pwedeng i cater since according to the rule a client must sign the contract inside the Philippine soil, since the policy contract as well as the company is under by the Philippine law. In your case you can also contact your insurance company in order to talk that case para mas sure, maybe they have different explanation. thank you and God bless!!
Yes you are right, OFWs must sign the documents here in the Philippines to make the policy contract valid. NO problem with them working abroad, they just sign the documents perhaps during their vacation.
Hi! Tanong ko lang po sana kung okay po ba yong Philippine Prudential life insurance company?
Yes legitimate insurance company naman po ang prudential Life Insurance, hindi lang maganda ang marketing and selling strategy nila sa mga malls.
Good day sir raymund. i am from zamboanga del norte, western part of mindanao. am now working here in the province of zanorte and we are about to engage an insurance company for life insurance…would you willing to send us a business proposal for us to examine?and would you willing to present that business proposal to the employees of the cooperative?we are 240 employees more or less. if this would be ok for you, then you cans end us your proposal first thru email for us to study it and i will let you discuss the same in front of the staff. you know raymund, if we are decided to be with sunlife we are 240 more or less. certainly if the company will choose sunlife then all of us will subscribe with it because the management will make insurance a requirement for regular employees.
thanks and best regards.
Ask qlng po ang MB Life Insurance poh ba hnd scam?thanks for ur quicj response..God bless
Yes Manila Bankers Life Insurance is a legitimate insurance company.
They are legitimate naman po.
Hi po. Ano po ba ung bagay sakin na mabilis ang kitaan? Mutual fund po ang gusto ko….
Maganda naman po ang mutual fund. Just approach a mutual fund agent.
Hi Raymond,
Ask ko lang po tungkol sa APEC. May Life insurance kasi ako doon na fully paid since 2010 at mag mature after 15 years. Last year gusto ko na sanang withdraw pero sabi nila tawagan nalang daw ako pag puedi na kunin. Pero until now hindi pa sila tumawag. May pag asa pa kayang makuha yong?
Raul
Is your plan a preneed plan?
pre need plan po.
Hi sir. I’m planning to avail a life insurance that has good additional benefits. Any suggestion on what company I will choose and what package..thanks a lot.
Just emailed you.
Hello poh..tanung lng sana poh kng ok din bah ung cocolife insurance company dami po kc nag sasabi na scam ung company nila ehh..nag dadalawang isip ako tuloy kng mag invest ako sa kanila…dami din po nag cacancel ng mga investmen nila sa cocolife….
Just emailed you.
Could you please email this to me as well. Im existing member but im confused if I will continue or not.
Hi Sir! I want to know more about cocolife and I think I’m gonna need your expert opinion. ( I think I’ve been scammed). Many thanks! God bless!
sir, anung insurance company ang mganda, im planning to get a life insurance.. salamat po
We recommend any of the top 5 insurance companies but any insurance company is ok as long as they have good track records.
Hi Sir Raymund,
magkano minimum amount para mka pag invest ng stock sa sunlife Grepa or Sunlife canada?
saka anu rin requirements. thanks
Are you refering to SUn Life Mutual fund? The minimum initial investment is 5000 pesos and the subsequent investment is 1000 pesos minimum.
Why they are automatically deducted with out any confirmation of my account…
Verry rude my hod
Prodential life!!!
I am sorry with your experience with prudential Life. You can ask for refund from them. You could also ask the assistance of the Insurance commission if they will not give your refund.
Hi Sir,
I signed a contract with AXA last month availing of their Life BasiX. Do you know any advantages and disadvantages on that program?
Thanks!
Hi sir. I’m planning to avail a life insurance that has good additional benefits. Any suggestion on what company I will choose and what package..thank you!
Hi Raymond,
I’m interested to explore life insurance especially sun life and VUL. Can you email me more overview as I’m at the exploring stage pa lang. Thanks!
Sir, inquire ko lang po if merong kayong VUL product with add-on benefit na i-compensate nya ang policy holder regular earnings in case of injury, illness, or alike na mawawala na yung kakayahan nya kumita?..with annual premium of 30k for 5 yrs?..
Thanks.
Allan A.
Hello Sir Raymund,
Please help what to do, gusto ko ipacancel ang comfirmation ko sa COCOLIFE nahimasmasan ako pag uwe dahil sa isang iglap nakuhaan ako ng 26K.
Wala silang tanong tanong na ibabawas na nila or kung ok lang ba na i debit nila ang ganung halaga malilito ka sa kanila sa daming kakamay sayo at mag sasabing “CONGRATULATIONS” eh hindi naman ako sumali sa anong promo nila.. parang na hypnotize lang ako ng agent papasok sa loob ng branch nila.. yung pera that day may pag gagamitan ako then hindi na namin nabili dahil sa nangyare.. Nalabag ang aming personal decision about paying the 1st 1 year of insurance. Pls. Help po. thank you.
Any update on this? Would you be able to ask a refund?
Hi Sir Raymond,
Nag apply oo ung parents ko ng generali life insurance sa BDO para sa mga kapatid ko nung sept 24, 2015 .. nkapag deposit po ung father ko ng 60,000 nung araw na un para sa insurance ng dalawa kong kapatid pero ung application hndi pa po nila na esubmit. gusto po sana e cancel nlng nga father ko ung insurance ,ang sbi po nila may penalty daw po mlaki at hindi daw basta basta makukuha ng buo ung pera at matatagalan pa daw po.. ganyan po ba talaga? wla po kc kami maxado alam sa insurance lalo na po parents ko kinausap lng cla ng agent sa bdo.
You have the right to surrender the policies. You can get full refund if you submit a cancellation letter within 15 days. Just write a letter of cancellation and submit it to the BDO branch with Generali or even in the head office of Generali. Present any receipt that they gave you. There is a provision in the law for your protection. This is called the 15 days cooling off period wherein you can back out. Don’t be afraid. They are discouraging you not to back out because they will not get any commission at all.
sir. cocolife po ang nag aalok sakin na kumuha ng life insurance sa kanila nong una sabi nila 29,000 a year maiipol lang daw yon ang kapalit ng pag iipon sa kanila ay may life insurance ako na nag kaka halaga ng 1M pag namatay ako at pag naka abot daw po ng 10 years may pensun nako to the 15 year lalaki na totoo po ba to?
Please read this: https://www.moneytalkph.com/insurance/how-to-cancel-your-life-insurance-policy/
Sir, legit po ba ang cocolife? nag avail po ako kahapon ng Personal Accident Insurance (GPA) worth 6k..
pero may mga nabasa po akong bad comments sa kanila kaya para doubtful na rin po ako..
Cocolife is a legitimate company but the way their salespeople behave is unethical. You are right there are many people who have bad comments on them because of their sales practice. Read more: https://www.moneytalkph.com/insurance/how-to-cancel-your-life-insurance-policy/
Sir Raymond,
What can you say about AXA and Sun Life? ano po ang mas ok in terms of Traditional policy nila and VUL’s nila? Nagbabase lang po ako sa top 2 companies..
Sir,any comments in IMG especially Kaiser 3 in 1 (healh insurance,investment plan) also can I have a quote for insurance payable in 5years or 10years , im 34 years old
I will email you.
I will email you.
Hi, just wanna ask.. Is COCOLIFE legit?I mean, is there a possibilities that this Life Insurance Company is a SCAM??Please answer me.. Thankyou
It is a legitimate company but you may have bad experience dealing with their agents. Learn more here: https://www.moneytalkph.com/insurance/how-to-cancel-your-life-insurance-policy/
Hi Sir.
Could you give me some suggestion. I am an OFW, a breadwinner, on my mid thirties and single. The only investment I have is in stock market and pre-need plan. Aside from investment, is there anything else that you can suggest for me to have such as Insurance? What type of Insurance I need, how much should it be or do I need medical coverage plan if in case i get sick or loss my job? Your suggestion will be very helpful for me to decide my next action. Thank you in advance.
Emailed you, I hope you reply.
Hello Sir,
Good day..
I have 2 kids 7 & 17, and say I have 200k each for the two, can you advise me please what is best investment and insurance that Sunlife can offer. I believed the best is to put the money to an investment so it grows compared to the bank interest rate..
I’m 36 non-smoker and working abroad.
Please email me.
Thank you.
Emailed you/
Hello sir,
I just want to ask kung pde paba ako mag back out s MB life insurance? Almost a month na din nung nag apply ako,kc po may bagong nirecommend un fiancé ko which is Manulife Horizons at mas mura pa un monthly na hulog ko kesa sa MB life. May chances paba na ipacancel ko po un?
MB Life is legitimate but not as popular as Manulife. Canceling your insurance may not give you any refund.
Hi,
I’m looking for a life insurance company. Can u email me the process how can I have one.
Emailed you.
Emailed you.
hi sir tanong ko lng po kung legitimate po b ang philippine prudential?dami ko ksi naririnig n bumagsak n ito at ung iba scam?totoo po b un?thanku sir
Yes it is legitimate but some of their agents are unethical in terms of selling.
Hi Sir, I am 36 yrs old with 4 yr old daughter, meron na po ang akong eduacational plan ng anak ko philam, 1 more year tapos npo namen syang bayaran. This time gusto ko kumuha ng another investment plan..I just read na no. 1 pala ang sun life though wla pa kong idea sa mga plans nila. I’m planning to get axxelator po ng axa or life basics…im not a risk taker but i want to try ung high risk plan..or if a moderate plan naman po what can u suggest. check ko po ang sun life since no 1 pla sya..ano naman pong investment ang maganda dun? Please advise me.
Emailed you.
Hi Sir. I just graduated from med school. I’m planning to avail a life insurance. Any suggestion on what company and type of insurance (traditional, variable, or term) I will choose thank you!
Emailed you.
hi sir ask ko lang po sana ano best na life insurance sa pinas ngayon and yung medyo ok naman po sa budget and of course yung good records
Thanks
I emailed you Maam.
I want to know about your insurance policy and investment. Please send me brochure by email different options and benefits. Thanks
I emailed you Maam.
Hi, plan namin kumuha ng educ plan and life insurance para sa aming mag-asawa, nag-inquire na ako sa ibang companies pero gusto ko ng maraming options…
Hi Sir Raymond. would like to seek for your advise in whom to choose when it comes to life insurance companies when it comes to health and investment
I emailed you Sir,
Hi sir, my co workers introduced me to sun life, then, last month, bdo introduced me to generali. I have really zero ideas about this matter. Could you help me decide on what type of financial scheme should i invest? Iv heard about mutual funds sa mga frens ko but i dont understand.I really want to invest on something, pra hindi nman ma freeze lng sa bank yung pera ko. Please email me. Thanks a lot in advance.
Hi, I emailed you.
Pls email me about sunlife insurance. Thanks.
I emailed you Maam.
Hi Sir! A Pleasant good morning to you. Hope that you are in the pink of your health upon reading this. My wife is planning to get an insurance. As of now we still don’t know what is suited for us and for my 2 growing kids. I would prefer insurance that will cover death, VUL & education.
Your assistance is highly appreciated.
We are just earning enough to sustain or daily living. That is why we wanted to prepare for the future.
Or if you have any suggestion, please do so.
Thank you
I emailed you Sir,
Hello Sir, I’m on my early career life and I am planning to get plan from Philam or Sunlife, however I’m having difficulty deciding which company I would prefer since I can not see material difference on their products. I’m also having trouble assessing the track record and credentials of both company. I hope you can help me decide on where to invest and what product I should consider.
Thanks in advance.
I emailed u po 🙂
..i would like to ask your personal opinion about generali life insurance and phil axa..thanks
The company is legitimate 🙂
hello Sir Raymund Good Morning! meron lang po akng question anu po ang ibig sabihin ng PREMIUM INCOME sa pag rank ng mga Life Insurance Companies. and ano po ang basis na masasabi mo na they are top Life Insurance Companies in terms of PREMIUM INCOME. Thanks po sir hope for your reply.
Premium imcome = premium collected by the company from policy holders or clients.
sir gud am po ask ko lng po kung hindi scam ang phillippines prudential kc po nag p insured sa mall medyo hindi maganda pag ka explain skin kaya hindi ko maiintindihan po yun policy nila….tnx po n mabuhay.
Legitimated company naman po ang Prudential, hindi lang talaga magagaling agents nila magexplain ng product.
Sir,ano pong magandang insurance company ?.im 30 yrs. old..planning to invest 30k per year for 5 yrs. at ano po mas maganda vul with life insurance or purely life insurance.thanks
I emailed you po 🙂
planning to get a life insurance,now that i will have to start a family of my own,plannig to get marry next year,ano po maipayo nyo na best insurance for me? also earning enough only to sustain daily need, also para sa future po…
parang same as Sir Cris question,
Thank you
I emailed you po.
Hi sir plan ko po sana kumuha ng insurance with investment po. Can u email me kung ano po magandang plan ang kunin ko. Ano po ba maganda sunlife po ba o axa po? Thanks.
Emailed u po 🙂
Good Day sir!
May dalawa po akong VUL under philam 75K annully and manulife.100K for almost a year now.Im planning to cancel one of them coz I want to invest in MF. I need your advise on which one is to continue
How can i cancel my life insurance With mblife? It is over 15 days.
It is almost 40 days.
Hi sir Camat, can I have the track records and ung different comparisons nung products of the different insurance companies kahit ung top 3 or 5 lang po for comparison purposes lang naman po, I am planning to get po kase a policy for myself and for my family, I want to know what best suit me,
oooh pahabol po pala straight to the point sir, sunlife, philam, manu, or axa?
Sir Raymund, I’m planning to cancel a future savings plan. I’ve heard ayaw ng company mag receive ng cancellation letter at required pa daw mag attend ng conference. What could be my stand in this situation? Paano ko po ba ma jujustify ang cancellation ko. Hindi ko pa naman na-receive ang policy.
Hi sir, Since nahospitalize and ngkasakit ang mother ko now ko Lang na realize ang importance ng insurance pero I’m quite confused Kung ano po yung affordable at pwede sa Amin.I used to work before pero since ngkasakit ang mother ko , I opt to become a full time mom and take care of my family.Gusto sana namin ng plan na Hindi Kmi mahihirapan maghulog at mabilis Lang intindihin , ang dami Kasi ng choices pero nakakalito..Iniisip din namin Kasi maginquire sa mga HMO pero pano pag Hindi ka naman ngkasakit..syempre po yun naman ang Dasal ng marami, ang wag magkasakit..In our case naging mahirap Lalo na at biglaan Kaya napaisip Kmi maginquire.Thank you so much for your time and god bless po.
Hi sir, pa Include na rin po ng investment na ok pero affordable so I can discuss it to my family..Salamat po ulit
Please email to me the best option where to invest a certain money per a month, ranging from 10K to 30K a month. TY
Hi I am in my early 20s and I guess this is the best time to get an insurance. I am torn between getting it from Manulife or Sunlife although most of my friends prefer Sunlife but they can’t explain it, can you help me decide?
is mb life insurance legit? thank u, sir.
I just want to ask if legitimate po ang MB life insurance? Thanks.
Hi Sir Camat. bakit po ine-encourage ng agent na ako or ung husbad ko n parent ang magpainsure instead of ung anak ko ang iinsure ko? and what is the difference ng traditional s VUL po? i am thinking po ng 5 year premium payment pero pang lifetime coverage po sana. how much will it cost me, say if i insure: a: myself turning 39 in november.. b: my husband turning 37 in december.. c: my child who just turned 1 last oct 1st. pwede nyo po b akong computan s cheapest n policy. thank you po. and can you compute for me another set, instead of 5 ay 8 years para macompare ko lang po. salamat.