In the Philippines, there are only a few Filipinos who have health insurance. Some see this as another expense, expensive, and not needed. However, when the time comes they need its benefits, that will be the instance they opt to have this security, which may be too late.
Now to entice people to get health insurance, some companies coupled it with investments. This kind of insurance will not only secure your health but your future as well, as you can get something in times of need. So, here are the five health insurances with investments you can find in the country.
Sun Life of Canada (Philippines) Inc.
Sun Life of Canada (Philippines) is the first and oldest life insurance company in the country. It was founded in 1895.
For over a century, the company has proved its promises to its clients. It won't stay in the business that long if it doesn't do so. Sun Life is one of the most preferred insurance companies in the Philippines.
Hence, it has maintained its position as the best insurance company in the country for seven consecutive years. Sun Life generated the most revenue from their policies' total premium charge in 2018, accounting to Php37.3 billion, per The Wise Guy.
Philippine AXA Life Insurance, Corp.
Philippine AXA Life Insurance, Corp. might only be 20 years in the business, but it already displayed a huge growth and penetration in the market - thanks to its bancassurance business. The company was established in 1999 as a joint venture of AXA Group and Metrobank Group.
Although it seems new, the company has been a steady player in the Insurance Commission's top 10 lists. It has been part of the government office's roll for the past few years.
Philippine American Life and General Insurance Company, Inc.
Philippine American Life and General Insurance Company, Inc. or better known as Philam Life focuses mostly on life insurance and investment products. It was founded in 1947.
It offers life protection, health and accident, savings, education, and investment plans. It also has wellness programs and financial plans.
Philam Life has the highest network, about Php78.9 billion, among the life insurances in the Philippines. According to Grit, it also has the most assets worth Php246.8 billion.
Pru Life Insurance Corp. of U.K.
Pru Life Insurance Corp. of U.K. has branches all over the world. Its main headquarter is in London, U.K. It was founded in 1848.
The company offers a wide range of financial products and services. It also has asset management services in Asia, which makes a strong presence in the Philippines.
The company also has health and protections services and collaboration with reputable banking institutions. Pru Life Insurance Corp. of U.K. has the most affordable premium packages in the market for VUL policies. It also got the third spot in NBAPE, valued at P5,758,660,185 in 2018.
Manulife Philippines
Manufacturers Life Insurance Company Philippines, Inc or also known as Manulife specializes in pension, education, investment, medical, employee security, and corporate financial services. It also has a student personal accident, credit life, and other insurance plans. The company is operating in the county under Manulife Financial Asia Limited.
