Insurance Companies in the Philippines 2019
There are quite several insurance companies that exist in the Philippines. There are much older and established ones, and newer ones that have been trying to penetrate the market and also provide quality insurance policies to their clients. If you are a first-time investor in life insurance, how do you know which company would be best to entrust your money with? This article will talk about how to discern which insurance company will work best for your family’s needs.
Insurance companies in the Philippines
Since there are many insurance companies to serve you in the Philippines, you have to make the right choice as to which one will serve this purpose for you and your family best.
What to look for in an insurance company
To know which company is the best one to invest with, there are certain aspects of the company you can look at, to see if they would be the best for your family. In all honesty, all insurance companies have something good to offer, but then not all companies are the same.
Financial strength and stability.
Checking for the financial strength of a company before investing with them is a good thing to do. Some companies are older and more established than new ones, but it does not mean that newer companies should be disregarded too.
The bottom line is to check if the company you choose is accredited and affiliated with the Philippine Insurance Commission. This government agency will not give accreditation to a company if they have not complied with the necessary requirements set by the Commission.
Satisfied clients.
It goes without saying that if a company has a long list of happy customers, they are a good choice to invest with. It is a good idea to ask friends or family members which companies they have insurance from. If they are satisfied with the products and services these companies offer, you can consider investing with one of these companies.
Policies that they offer.
It is important to check and see what types of policies and insurance products the company offers. Many companies offer a wide range of choices when it comes to the policies you can invest with. There may also be a difference with the riders they offer as add-ons to the policies they offer.
There are a few companies that offer insurance products for big groups and offer medical coverage as well. Choose a company that can offer a rider for each of the needs your family has. Investing in insurance is not just about having a policy, you will want to have insurance that will cover you in case of any type of emergency.
Customer service.
The way a company deals with complaints is something you need to consider as well. If they have a line that answers to any questions you have after they can make the sale, it means they care about their policyholders. Having a good customer service line that has friendly and knowledgable agents shows customers that they are valued.
Are you considering taking out an insurance policy?
If you are looking to invest in an insurance policy, here is a list of the top 5 best-rated insurance companies in the Philippines this 2019.
- Sun Life of Canada (Philippines)
- Philippine AXA Life Insurance, Corporation
- Pru Life Insurance Corporation
- Manila Bankers Life Insurance Corporation
- BPI-Philam Life Assurance Corporation
These companies are considered to offer the best of the best in terms of the insurance. If you want to be granted peace of mind, invest in an insurance policy today, and see the difference it can make in your life.
