Best Life Insurance Companies in the Philippines 2012

        
    Life insurance is  often ignored by many people.This happens ,maybe , because it talks about death ,which is a sensitive topic.But on the perspective of  a realistic person, death is inevitable and it should be taken care of while there's chance. Moreover, investing in life insurance first impressions mostly have  negative thoughts. Perhaps,you will say,”I don't need it .”But are you sure you don't need it when time comes?


Investing in Life insurance is a smart move one can do for himself and for his family. As a matter of fact, when a person dies ,the whole expenditure will be carried by the bereaved family. So it's helpful to have  an insurance firm  that will cater   burial and interment expenditures.In some  cases,without an insurance the whole family will have financial turmoil and this may result to arguments that will ,eventually, lead to broken  family. This is  why in this hard times being  frugal and versatile  is a great virtue to follow ,and you can start by getting yourself a life insurance.


Here’s a great list of  Billion Worth of  Philippine's  Top Insurance Companies you can choose from.
Remember ,it’s better to be insured than sorry.

1. Philam  Group of Companies The Philippine American Life and General Insurance Company (Philam Life) is the largest life insurance company in the Philippines and the market leader more than 60 years. It's services cater corporate insurance ,and individual services such as Protection,Education,Savings ,Retirement ,Investment ,Health and Critical Illness and OFWs .It has P11.255  Premium Income in Billion Pesos.




2.Sun life started in Canada in 1865, Sun Life is one of the world’s leading financial services companies. Their  headquarters is in Toronto, with their  partners today operate in key markets worldwide including Canada, the United States, the United Kingdom, Ireland, China, Hong Kong, the Philippines, Japan, Korea, Indonesia, India and Singapore.It has 10.633B Premium Income.

3.AXA Philippines is a solid partnership between the Metrobank Group, one of the country’s biggest conglomerates, and the AXA Group, one of the world’s largest financial protection and wealth management companies serving more than 95 million customers in 61 countries.It has P 8.360 B Premium Income.

4.Prulife UK is born in London on May 30th, 1848 at first their mission is provide   loans and life assurance to professionals.After 4 years ,they are tranformed into an institution that offers Industrial Insurance to the general public and developed their own marketing strategy-door to door outreaching for clients.And now,it has more than 20 million customers worldwide and has US$530 (£267) billion worth of funds under management.


5.Insular life was established on November 25, 1910 at a time when the Philippines was flexing its wings as an independent country. Today, as the Philippines' leading and largest Filipino life insurance company, Insular Life prides itself with its role in securing the lives of Filipinos families for close to a century. Its roster of products — from its ordinary whole life, endowment, limited-payment, college education and insurance plans, to pension and investment plans — not only offers the best cost-benefits ratios among insurance plans in the market.It has 7.129 B Premium Income.

6.BPI-Philam Life Assurance Corp (formerly Ayala Life Assurance Inc) is one of the most remarkable confederation between two stellar financial companies in the Philippines. These are The Philippine American Life and General Insurance Company (Philam Life) and Bank of the Philippine Islands (BPI). Philam Life is the biggest life insurance institution in the Philippines and the market leader for over 60 years. BPI is a leading commercial bank in the country with more than three decades of domestic banking .It has large branch network of over than 800 branches and 1,500 ATMs.It has 5.696 Billion Peso Premium Income.




7.Manulife is one of the most stable life insurance companies in the Philippines .They have been conducting business in the country over a century now. Thus,through the years of assets acquisition this international life insurance institution sent its way to the Philippine Stock Exchange (PSE).It has 3.975 Billion Peso Premium Income.




8.Grepalife is another major player in the life insurance industry in the Philippines. It is under the umbrella corporation of Yuchengco Group of Companies (YGC), one of Southeast Asia’s largest conglomerates. In fact , YGC is operating to more than 90 companies around the world. The companies assets revolve on multifaceted commercial enterprises like banking and finance , insurance, automotive dealership, travel and tourism, development and construction, engineering,and IT.It has 3.492 B Premium Income.




9.United Cocolife or COCOLIFE (United Coconut Planters Life Assurance Corporation), the first ISO Certified life insurance company in the Philippines, is the mother  company of the COCOLIFE Group of Companies which provides  a comprehensive  range of insurance and financial services. It has subsidiaries in  non-life business (UCPB General Insurance), pre-need (Cocoplans), mutual funds (United Fund, COCOLIFE Fixed Income Fund), asset management (COCOLIFE Asset Management) and security services (Ultra Security Services, New Ultra, All Nation). It has 2.333 B Premium Income.


10.Generali Pilipinas is the synergy of  three big companies  in 21st century commerce namely Assicurazioni Generali of Italy, the Kuok Group of Malaysia, and the SM Group of the Philippines.It has P1.420 B Premium Income.

11.  Asian Life & Gen.	P1.126 B
12.  PNB Life	P1.008 B
Rank   Life Insurance Company	Premium Income in Million Pesos
13.  Pioneer Life	987.749
14.  Manulife Chinabank	974.297
15.  Phil. Prudential	828.154
16.  Fortune Life	743.348
17.  First Life Financial	592.584
18.  Beneficial Life	536.830
19.  Paramount Life & Gen.	501.390
20.  Coop Life Ins. (CLIMBS)	345.406
21.  Asian Life Financial	243.062
22.  Country Bankers	227.449
23.  Cooperative Insurance System (CISP)	164.353
24.  Manila Bankers	144.358
25.  Philam Equitable	119.179
26.  Great Life Financial	96.753
27.  Manulife (Branch)	89.402
28.  Phil. Interlife	86.140
29.  Caritas Life	66.123
30.  CAP Life	63.408
31.  United Life	44.047
32.  Sony Life	36.730
33.  Banc Life	37.296

Update: Prudential Life Plans Inc  has been recently declared bankrupt.This is the purpose why I wrote this article for the general public to know where  to invest the best life insurance company.For more details you can check for updates at  www.insurance.gov.ph/. 

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