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List of Legit Life Insurance and Travel Insurance Companies Based in the Philippines

By Two Monkeys Travel - Contributor August 20th, 2020 Posted in Guide for Filipinos, Philippines Travel Blog One Comment

If you read our article, Different Insurance Policies You Can Get in the Philippines, you will know the various types of insurances offered. One thing that is very important to me is having life insurance and travel insurance. As we don’t know what the future entails and it’s better to be prepared than spend tons of money.

Different Insurance Policies in the Philippines
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We have made this article to help you choose the best Insurance Companies Based in the Philippines. I just want to tell in advance that I’m not affiliated to any of these companies so I suggest that you do further research after reading this article.

Life Insurance

  • Life insurance is when a principal has died, a lumpsum amount will be given to the principal’s family. There are certain terms and types on it. To sum it up, here are examples. 
  • Term life insurance – Person A’s term is 30 years (age 30 – 60), however, if he dies at age 65 – no benefits will be given to him, but if he dies when he is 55 then his beneficiaries can claim his insurance.
  • Whole life insurance – Person A pays from 30 years old until he dies at age 65, benefits are given to his beneficiaries.
  • Universal life insurance – Person A pays for 30 years, a portion of his payment is invested at a constant rate, the rest of his life, the invested amount will be used until he dies at age 65, benefits are given to his beneficiaries.
  • Variable life insurance – is like Universal life insurance, however, interest may be high or low depending on where Person A decides to invest, benefits are given to his beneficiaries.when he dies at 65.

Life Insurance Companies in the Philippines

Here is the data according to the Insurance Commission of the Philippines. All are based from 2017 Audited Annual Statements since 2018 has not been audited yet.

Premium Income – Revenue generated from the overall premium paid on its policies
Invested Assets – Assets invested 

Networth – Total assets minus total Liabilities
Net Income – Total revenue less total expenses

Sun Life of Canada (Philippines), Inc.

Headquarters: Toronto, Ontario, Canada
Founded: 1865 in Canada, 1895 in Cebu, Philippines
Head Office Address: Sun Life Center, 5th Avenue cor. Rizal Drive, Bonifacio Global City, Taguig City
Premium Income: 32,108,649,842 (#1)
Invested Assets: 230,813,135,501 (#2)
Networth: 27,284,388,699 (#3)
Net Income: 7,033,041,347 (#1)

Philippine American Life & Gen lns. Co.

Headquarters: Hong Kong
Founded: 1919 in Hong Kong and 1949 in the Philippines
Head Office Address: Philam Life Head Office, 15-18F Net Lima Building, 5th Avenue corner 26th Street, Bonifacio Global City, Taguig, Metro Manila
Premium Income: 19,896,346,896 (#4)
Invested Assets252,114,091,903 (#1)
Networth: 77,532,702,274 (#1)
Net Income: 6,145,890,201 (#2)

lnsular Life Assurance Co. Ltd 

Founded: 1910
Head Office Address: Lavel 30, lnsular Life Corporate Centre, lnsular Life Drive, Filinvest Corporate City, Alabang, Muntinlupa City
Premium Income: 11,675,264,888 (#7)
Invested Assets: 139,078,023,389 (#3)
Networth: 38,274,601,643 (#2)
Net Income: 3,074,778,997 (#4)

Philippines Axa Life Insurance Corporation

Headquarters: Paris, France
Founded: 1816 in France, 1999 in the Philippines
Head Office Address: 34th Floor, GT Tower International, #6813 Ayala Avenue cor. HV Dela Costa Street, Makati, 1227
Premium Income: 26,184,554,497 (#2)
Invested Assets: 110,656,892,125 (#3)
Networth: 6,887,673,223 (#7)
Net Income: 2,360,041,347 (#5)

BPI-Philam Life Assurance Corporation, Inc. 

Founded: 1854
Head Office Address: 15th Floor BPI-Philam Life Makati, Ayala Avenue, Makati City 1226
Premium Income: 20,329,487,893 (#3)
Invested Assets: 100,830,644,170 (#6)
Networth: 7,426,215,084 (#6)
Net Income: 1,648,514,757 (#6)

Manufacturers Life lns. Co. (Phils.), lnc. (Manulife)

Headquarters: Toronto, Canada
Founded: 1887 in Canada, 1907 in the Philippines
Head Office Address: 10th Floor NEX Tower, 6786 Ayala Avenue, Makati City, 1229
Premium Income: 17,698,766,283 (#6)
Invested Assets: 95,310,900,209 (#7)
Networth: 14,072,251,382 (#4)
Net Income: 3,074,778,997 (#4)

Pru Life Insurance Corp. of U.K.

Headquarters: London, United Kingdom
Founded: 1848 in London, 1996 in the Philippines
Head Office Address: 9/F Uptown Place Tower 1, East 11th Drive, Uptown Bonifacio, 1634 Taguig City
Premium Income: 19,221,205,565 (#5)
Invested Assets: 135,281,476,208 (#4)
Networth: 3,544,770,328 (#9)
Net Income: 1,356,783,481 (#8)

BDO Life Assurance Co., lnc.

Head Office Address: BDO Corporate Center, 7899 Makati Avenue, Makati City
Premium Income: 9,871,458,393 (#8)
Invested Assets: 35,796,442,779 (#9)
Networth: 6,280,334,341 (#8)
Net Income: 1,545,917,410 (#7)

United Coconut Planters Life Assurance Corp. (Cocolife)

Head Office Address: COCOLIFE Building, 6807 Ayala Avenue Makati City
Premium Income: 6,645,380,692 (#10)
Invested Assets: 24,259,736,529 (#12)
Networth: 7,562,961,207 (#5)
Net Income: 645,050,656  (#10)

Sunlife Grepa Financial, lnc.

Head Office Address: Sun Life Grepa Financial, Inc., 221 Sen. Gil J. Puyat Ave., Makati City
Premium Income: 6,271,333,763 (#11)
Invested Assets: 45,997,696,671 (#8)
Networth: 3,230,844,676 (#10)
Net Income: 682,791,188 (#9)

Other Life Insurance Companies in the Philippines

Life Insurance Premium Income Invested Assets Networth Net Income
Allianz PNB Life lnsurance. lnc.  5,304,100,103 26,535,753,907  1,687,524,695 138,485,623
Pioneer Life lnc. 3,131,610,743 12,379,413.63 1,269,940,761 208,613,794
Beneficial Life lnsurance Co., lnc. 1,001,028,393 5,708,533,056  2,059,594,075 154,030,983
First Life Financial Company, lnc. 1,020,101,942 5,496,155,461 1,135,494,665 368,345,254
Manulife Chinabank Life Assurance Corp 8,211,125,596 32,332,796,832     650,327,584     11,814,006
AsianLife & General Assurance Corp.     2,713,210,466 1,739,860,137     881,402,942   182,695,957
CLIMBS Life & General lns. Corp,  1,378,803,948 1,604,061,106 1,075,863,997   139,996,160
FWD Life lnsurance Corp.    4,546,861,257 8,161,641,974   1,456,631,863   (941,715,700)
Fortune Life lnsurance Company, lnc.    1,048,047,222 3,401,305,442     886,566,379 63,833,480
Cooperative lnsurance System of the Phils.       517,369,990 952,023,728   1,069,269,163   160,458,708
East West Ageas Life lns. Corp.      860,830,413 1,771,173,106   1,498,375,578 (898,099,869)
Paramount Life & General lns. Corp.       913,727,074 2,532,097,996     652,893,874     28,220,142
Philippine Life Financial Assurance Corp.       520,376,944 1,997,503,910     494,965,367     44,193,222
Caritas Life lnsurance Corp.           91,110,012 995,361,172     820,766,369     66,805,228
Phil lnternational Life lns. Co., lnc.         7,126,980 1,147,799,957     942,529,788       8,630,941
United Life Assurance Corp.       14,313,293 1,135,508,194     889,355,639       1,073,963
Country Bankers Life lnsurance Corp.     562,140,837 607,051,742     596,791,758     (33,134,361)
Generali Life Assurance Phils., Inc.     779,879,945 936,653,633     594,519,651     (94,381,265)
Philam Equitable Life Assurance Co., lnc.          3,299,212 458,266,693     765,348,712         (386,492)
Manila Bankers Life lnsurance Corp.      241,979,631 264,587,693     254,373,674     (12,964,374)

Tips on choosing a Life Insurance Company

  • Make sure the company is doing good – you need an insurance company that will last long so that you can claim insurance when you are old. Check if their financial health is good, as their assets and income.
  • Research feedback – check what people are saying about the insurance company, are they happy? Have they been received the insurance?
  • Check policies of different companies – compare prices and quotations from different companies and see what you can afford to pay and also has great benefits

Travel Insurance

Off to travel abroad or within the country? Always get travel insurance. Travel insurance covers losses like lost luggage or canceled flights, can cover medical expenses especially during an emergency. Indeed having travel insurance during my trip to Pakistan was helpful as I, unfortunately, had an accident there and luckily all my medical expenses were covered by Safetywing but this company is based in the USA


Let’s check out the list below of the travel insurance companies in the Philippines. All in this list are regulated by the Insurance Commission of the Philippines.

Travel Insurance Companies in the Philippines

AIG Philippines lnsurance, lnc
AIG Travel Guard

  • Starts at Php 315.00 for 4 days
  • With family plan

BPI/MS lnsurance Corporation
BPI M/S Travel Care Insurance

  • Starts at Php 315.00 for 4 days
  • With personal accident insurance

Malayan Insurance Company, Inc.
Malayan’s Travel Master

  • Starts at Php 350.00 for 4 days
  • Dollar or Peso Policy
  • With insurance on rented cars

MAPFRE Insurance Company, Inc.
MAPFRE Travel Insurance

  • Worldwide coverage

Pacific Cross lnsurance lnc.
Pacific Cross Travelsafe

  • Starts at Php 308.00
  • Cashless medical treatment

Philippines Axa Life Insurance Corporation
Axa Smart Traveller

  • Starts at Php 820.00
  • For international travel with origin in the Philippines
  • Can be purchased the day before your departure or 6 months advance

Pioneer Intercontinental Insurance Corporation
Pioneer Safetrip

  • Starts at Php 199 for 4 days
  • Has group plans

Pioneer Life Travelsmart

  • Accident insurance

Standard Insurance Company, Inc.
Standard Insurance Travel Insurance

  • Worldwide Insurance

Tips on choosing a Travel Insurance 

Different Insurance Policies in the Philippines
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Insurance is really important. Hindi natin alam kung anong mangyayari, so better mas prepared tayo. Treat a Life Insurance not as an expense but an investment, you or your beneficiaries will get what you have paid for. For travel, Imagine spending $30 for an insurance but having an expense of $15,000 when you get into an accident; so it will be worth-it. Pero sana, no accident nalang, para happy. I hope you think this through, you can also check our article on the Different Types of Insurance in the Philippines.

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COPYRIGHT DISCLAIMER:Many of the articles on Two Monkeys Travel Group are guest posts by a number of Approved Contributors and are hosted by Two Monkeys Travel Group. Approved Contributors control their own work and post freely to our site. This includes all text and images that they use within their own work. All contributors are instructed to follow internationally recognised copyright and intellectual property guidelines. Two Monkeys Travel Group takes its own responsibilities very seriously, so if you feel that any part of this work is abusive in any way, please send us an email so that we can investigate - [email protected]

DISCLOSURE: Please note that some of the links above are affiliate links. So when you make a purchase we sometimes make a small commission, at no extra cost to you. The cost to you remains the same, sometimes even cheaper if we have negotiated a special deal for our readers.We use all of the companies we have listed here and that’s why they are in this list, but of course we need to keep Two Monkeys Travel Group running as well as it can, which is exactly what you’re helping with if you do decide to buy or book something through an affiliate link! If you have any more questions about the companies we use or any other companies you’re looking at, just email us and we’ll be happy to help.Please see our full disclaimer page for more information.

Written by Two Monkeys Travel - Contributor

Two Monkeys Travel Group – Community Travel Blog is a travel blog and website. We quickly grew into a valuable source of inspiring travel stories, advice, itineraries and travel guides, with the aim of demonstrating how to live a sustainable life of travel, whilst living your own definition of success. If you'd like to contribute and write a guest post, contact us at [email protected]