Insular Life jumps to 5th place in NBAPE

By Karen L. Plata

Insular Life (InLife) has improved its sales performance, jumping from 7th place at the end of the first quarter of 2023 to fifth place at the end of the first half of this year in terms of its New Business Annualized Premium Equivalent (NBAPE).
    Data from the Insurance Commission (IC), the governing body of life insurance companies in the country, show that InLife attained P1.706 billion in NBAPE during the first half of 2023.
    This translates to a 127% increase in InLife’s NBAPE against the first half of 2022. Meanwhile, the IC reported an industry growth of 9.62% in NBAPE in 2023 compared to the same period last year.
    InLife President and CEO Raoul Antonio E. Littaua welcomed the news, thanking InLife’s policyholders, agency force, employees, and stakeholders. “Our remarkable growth trajectory is a result of the continued trust of our policyholders, and the outstanding work that our employees, agency force, and bank partners do every day. Every InLifer is propelled by a sense of commitment to provide A Lifetime for Good in the communities we serve. This, and our strict adherence to the highest principles of good corporate governance are what guide us in the conduct of our business. Beyond rankings, this is the spirit that moves us onwards and upwards.”
    NBAPE is the global standard used to determine the sales performance of life insurance companies in the country.
According to IC’s data, InLife also ranked second and fourth in terms of Net Worth and Assets, respectively.
    “These affirm InLife’s strength and dependability to deliver its obligations to its policyholders and their beneficiaries as they become due..

As the oldest Filipino life insurer, we regard ourselves as the torchbearer of our Filipino heritage. With the continued support of our stakeholders, we will forge ahead, ever mindful of our mission to provide our fellow Filipinos financial protection so they can fulfill their dreams in life,” said Littaua.

 

 

 

 

 

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Bontoc farmers receive fund assist from PCIC

By Alpine L. Killa-Malwagay, Bontoc LGU

BONTOC, Mountain Province – Twenty-three farmers receive financial assistance from the Philippine Crop Insurance Corporation (PCIC), an attached agency of the Dept. of Agriculture (DA) August 31 here at the Municipal Capitol. 
    According to Municipal PCIC focal person Cheryle Fungo from the Office of the Municipal Agriculturist (OMAg), recipients received assistance from the PCIC for damages of their crops and loss of livestock which they have insured to the PCIC. 
    The Bontoc local government, through the OMAg, was in charge of assisting an applicant in filling-in the application form. 
    The interview, assessment and approval of the insurance assistance of an applicant shall be conducted by the PCIC. 
Of the 23 recipients, 21 have received financial assistance from the damage to their crops while two are for the loss of their livestock.  

The amount they received varied based on what they insured to the PCIC. 

Fungo said the PCIC offers an insurance program for rice, high-value commercial crops, fishers, livestock and non-crop agricultural assets such as equipment and machinery.  

The insurance is an assistance extended to farmers and fisher folks to protect their farms against possible losses due to natural calamities and other forms of agricultural risks such as an attack of pests and diseases. 

She urged farmers and fisher folks to apply for the insurance which was free of charge, adding the insurance claim that an applicant may receive from PCIC was dependent on verification and assessment of the damage/ loss crop or livestock. 

Interested applicants may get a copy of the application form and submit the same at the OMAg with its office located 3rd Floor of the Bontoc Municipal Capitol. 

The OMAg may respond to queries of applicants about the program as it has always been a partner of the PCIC in assisting clients with the required documents. 

Bontoc Mayor Jerome “Chagsen” Tudlong, Jr., extended his gratitude to the PCIC saying the assistance it provided to farmers was of great help in their recovery from damage to their crops and losses in livestock. 

The mayor urged farmers and fisher folks to avail of the free insurance being offered by the PCIC especially since the program covers crops and livestock damaged by diseases, pest infestation, and natural calamities, such as typhoons, floods, drought, tornados, and earthquakes.

“We pray we will not be affected by man-made and natural calamities, but should it be inevitable, the insurance program is a big help to farmers and fisherfolks because it guarantees a return on their investment so they can start over again,” Tudlong added. 

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Depositors of closed bank to get insurance payments

By Vince Jacob Visaya

CAUAYAN CITY, Isabela -- The Philippine Deposit Insurance Corp. (PDIC) said that it has started paying through Postal Money Orders (PMOs) depositors of the closed United Consumers Rural Bank Inc. in Isabela.
    Eligible for outright payment of deposit insurance are individual depositors with valid deposit balances of P100,000 and below who have no outstanding loans with the closed bank and have complete mailing addresses in the bank records or updated information.
    PMOs amounting to P15,000 and below may be encashed either with the local post office or with the nearest branch of the Land Bank of the Philippines.
    Meanwhile, money orders above P15,000 may be deposited to the depositor's account in any local bank, the PDIC said.
United Consumers Rural Bank Inc. was ordered closed by virtue of Monetary Board Resolution 930.B dated July 20, 2023.
    It is a single-unit rural bank located on National Highway Centro, Santa Rosa, Aurora, Isabela.

 

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Baguio one of Phl sites for PhilHealth program

By Aileen P. Refuerzo

BAGUIO CITY was chosen as one of the first seven primary care networks in the country to implement on a “sandbox” or experimental basis Philippine Health Insurance Corporation (PhilHealth)’s             Konsultasyong Sulit at Tama (Konsulta) program innovation aimed at improving primary care financing.
    The program innovation will allow Baguio, four provinces and two private health providers “to have advanced payments or frontloading of funds even before services have been rendered,” according to the joint press statement from the PhilHealth and the Dept. of Health.
    “Konsulta PCPN will also only pay networks of primary care doctors and clinics, instead of the individual clinics like the regular Konsulta benefit.”
    As Konsulta primary care provider network (PCPN), Baguio together with the provinces of Bataan, Guimaras, Quezon, South Cotabato and private health care providers LiFE group and QualiMed which care for 2.3 million Filipinos are projected to be paid a total of P1.2 billion, which may be used to improve infrastructure, equipment, and staff compensation even before the first patient starts using services, the health agencies said.
    Mayor Benjamin Magalong thanked PhilHealth for choosing the city as pioneer PCN citing the program’s benefit for the city’s populace in view of the rising costs of medicines, laboratory and medical procedures in private hospitals.
    The mayor together with Acting City Health Officer Dr. Celia Flor Brillantes and Acting Asst. Health Officer Dr. Maria Lourdes Pakoy attended the program for the signing of the PCPN Service Level Agreement held June 19 in Manila.
    The program was attended by PhilHealth Acting President and Chief Executive Officer Emmanuel R. Ledesma Jr. and Health Secretary and PhilHealth Chairperson of the Board Dr. Teodoro J. Herbosa.
PHilhealth and DOH said the PCN innovation is in line with Republic Act 11223 or the Universal Health Care (UHC) Act which defines “primary care” to be first-contact, accessible, continuous, comprehensive and coordinated; accessible at the time of need; with a range of services for all presenting conditions; and able to coordinate referrals to other doctors, clinics and hospitals in the healthcare delivery system, when needed.”
    “The UHC Act makes it the main responsibility of the DOH and local government units (LGUs) to make sure that the health care delivery system will make a primary care doctor, assisted by other health workers, available to each and every Filipino. 
    Meanwhile, Filipinos have the right to choose primary care doctors, either from public or private clinics,” the agencies noted.
    “The current PhilHealth (Konsulta) primary care benefit package covers patient consultations, any of 13 laboratory and diagnostic tests as ordered by the doctor, and 21 common medications that can be prescribed according to medical needs. PhilHealth pays its Konsulta Package Providers an amount ranging from P500-750 per patient per year, on a reimbursement basis after services have been rendered,” the agencies added.
 

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InLife offers customizable life insurance plan

By Karen L. Plata

Insular Life (InLife) introduced Wealth Assure Plus, a customizable life insurance product with investment component to provide higher life insurance coverage and living benefits to policyholders.
    “InLife understands the pandemic raised awareness on the value of financial planning. With our products that respond to our customers’ changing financial needs, we help our policyholders make the best plan for their lives,” said InLife chief marketing officer Gae L. Martinez.
    “Wealth Assure Plus answers the life and health protection, savings, and investment needs of Filipinos, especially younger millennials with young families. This product adapts to our customers’ changing needs and priorities, so they can remain on the right track to achieve their financial goals,” she added.
    Wealth Assure Plus provides increased protection benefits equivalent to a minimum of ten times the annual regular premium or the policy’s fund value, whichever is higher. The plan also gives an opportunity to maximize potential earnings as funds can grow faster because of its low insurance cost and exposure to local and global equity markets for more earning potential.
    Wealth Assure Plus can be set up as a plain variable unit-linked plan or further personalized with attachment of riders such as renewable term insurance, critical illness coverage, accidental death benefit, and waiver of premium benefit. The product provides flexible payment and payout options, and includes investment outlets that support the customer’s personal risk profile.
    This latest InLife plan is accessible and convenient with regular annual premiums starting at P10,000. The plan’s compressed payment option may help policyholders achieve their financial goals sooner.
    To know more about InLife’s Wealth Assure Plus, visit https://www.insularlife.com.ph/wealth-assure-plus
 
 
 

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InLife: Secret of couple in getting financial security

By Karen L. Plata

For Insular Life (InLife) financial advisors and married couple Mark and Mica Fernandez, being blessed is a strong motivation to be a blessing to others. 
    Mark and Mica were working as accountants before they became InLife financial advisors in 2009 and 2012, respectively.  
    During the recent InLife Winners Circle Business Opportunity Forum entitled “Achieving Financial Harmony,” Mark recalled that he was attracted by the flashy stock picker shown on Insular Life Building along Ayala Avenue in Makati City. His curiosity to learn about investing in the stock market motivated him to submit his resume in InLife and eventually work as a part-time financial advisor.  
    After realizing that his calling in life was to give advice to people on how to become financially independent, Mark left the accounting firm after six months to work full-time as a financial advisor – an unfamiliar profession to many which he admitted was then frowned upon by his father who lives in Dumaguete City in Negros. Determined to make his father proud, Mark worked hard until he became one of InLife’s top performing financial advisors. He became part of the prestigious Million Dollar Round Table, an association of the top 5% of financial advisors all over the world at age 23. 
    Mica, on the other hand, worked in an accounting firm for three years. Intrigued with her friends who seemed so happy about the income and gratifications they were getting from their side hustle, she was introduced to the world of InLife financial advisors. She was contented with being a part-time advisor at first, until her family in Batangas was faced with a difficult financial situation. They needed a huge amount of money to pay for their mortgaged house, otherwise they might lose it.  
    “The challenge was to pay a P1 million loan with my P30,000 monthly salary. Even if I pay P10,000 monthly, P7,000 would go to interest and only P3,000 for the principal amount. This would take me 20 to 28 years to pay the loan. So, I decided to go full-time as a financial advisor. And because of that big decision, I was able to settle my parent's loan in two years,” Mica shared.  
    In 2018, they started Aetos FPH Financial Insurance Agency Inc. with Mica as President and Mark as Chairman. Starting with only 15 financial advisors, the agency has now grown to 57 financial advisors, particularly from Metro Manila, Bulacan, Nueva Ecija, Pampanga, Batangas, Rizal, Laguna, Iloilo, Cebu, Aklan, and Cagayan.  
    Mark explained that his profession as a financial advisor allowed him to learn more about investments and insurance which have allowed his family to be financially independent. The profession also allowed him to be a hands-on parent to their daughter due to the work from home nature of the job while still earning a generous income, international travel incentives, industry recognitions, as well as opportunities for career growth by helping aspiring young financial advisors become top financial advisors. 
    “We help our policyholders reach their financial goals. We also help our financial advisors through mentoring and training,” Mica said. 
    “The experience and struggles as a financial advisor were definitely worth it,” Mark said, adding that his family in Dumaguete is now his biggest fan.     
    The couple shared their four tried and tested ways to reach their financial goals:   
1.     Build a surplus mindset to enable you to afford things and achieve your dreams, rather than settle for a shortage mindset.   
2.     Invest in yourself. Study and attend training programs. 
3.     Be determined to achieve your goals.  
4.     Start building multiple streams of income.  
    Mark added that the country needs more financial advisors to spread the benefits of financial planning to more Filipinos. The couple noted that if more people are financially literate, there will be lesser poverty in the country.    
    InLife, the country’s largest Filipino life insurance company, hopes to multiply Mark and Mica’s winning journey as financial advisors. To become financial advisors, simply attend InLife’s monthly Winners Circle Business Opportunity Forum; take the licensure exam and get licensed; and complete the basic training program. Visit https://tinyurl.com/4vap2y2y for more details. 
 
 

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InLife pays P1B death, disability claims; claiming benefits easy with portal

By Karen M. Plata

Insular Life (InLife) announced that it paid P1.276B in death and disability benefits in 2021. 
    This reflects the total amount InLife paid for 4,238 individual policy claims, but excludes the claims made by its group clients.
    The announcement was made as the Company launched its new Claims Portal which is integrated in its website, www.insularlife.com.ph.
    InLife First Vice President and Insurance Operations Head Diane Tagra said that the new Claims Portal is InLife’s way of ensuring that its policyholders are able to file policy claims and receive policy benefits more easily. “Life insurance is essential as it takes care of you and your family’s financial needs at a time you most need it. In reality, though, it is something you also do not want to use. Yet when the need arises, you want to be able to take advantage of its benefits the soonest possible time. Claiming benefits means preparing numerous documents that you have to submit over-the-counter. With InLife’s Claims portal, our policyholders may file a claim via our website in three easy steps: 1) Notify InLife about the claim; 2) submit all requirements; and 3) Get a reference number, all these without the need to physically visit our offices nationwide.”
    InLife policyholders, beneficiaries, or authorized persons may file claims of the following kind: death, disability, hospitalization, and dread disease or critical illness.
    Once filed, an InLife claims representative will email and validate the submitted documents. Succeeding updates will be sent via email or SMS. The claim status may also be tracked via the Claims Portal.  Claims proceeds will be released either via bank fund transfer or check three to seven days upon complete submission of all requirements. 

“The Claims Portal speeds up the claims process significantly because once requirements are submitted, they are received directly by our claims processors. Security is also improved because the proceeds can be  credited to the policyholder’s bank account,” added Tagra.

The Claims Portal is also accessible via InLife’s mobile app, TRIBOS, which may be downloaded by visiting this link: https://bit.ly/3J7g0Kv.

For more information on InLife’s Claims Portal, policyholders may visit https://access.insularlife.com.ph/ClaimsPortal/FAQ.

 

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InLife Lazada videos make life insurance happy reality

By Karen L. Plata 

Life insurance has a reputation for being expensive, too technical and hard to understand. 
                In order to address these concerns, Insular Life (InLife) partnered with the Lazada Marketplace to offer low-priced and easy-to-understand protection and accident products that one can obtain in as fast as a few clicks. 
                “This pandemic has made many realize that sickness and death may befall anyone anytime. But we also understand the reservation that comes with acquiring life insurance. It’s full of technical jargon and may take several days before it gets approved. At InLife, we want to let people know that LIFE really means Life Insurance is Fast and Easy. And this is what our Lazada products are here for,” said InLife Digital Distribution Head Geraldine G. Pascual.
                She added that in order to help Lazada users purchase what could be their first insurance, InLife produced three videos that would explain to them how the products work,” 
                The videos may be accessed via InLife’s YouTube account. They  are about: InLife Lazada Protect Plans, which are term life insurance plans with accidental death and disability benefits, as well as accidental hospital income benefits; the InLife Premium Protect Plans, which are term life insurance plans with hospital income benefits, and the InLife Shield Plans, which are comprehensive group accident plans with medical and surgical expense reimbursement benefits. 
                “We hope that after watching these videos, our kababayans would gain a better understanding of what life insurance means and why it is essential to own one,” Pascual added. 
                InLife’s Lazada products may be bought from the Insular Life LazMall Flagship Store. 
                Insular Life (InLife) is
 the first, largest, and only mutual Filipino life insurance company in the country with over 110 years of uninterrupted service. It has over a  hundred years of experience in financial protection, risk management, savings, and investment.
                It has an asset base of over P148 billion and net worth of P37 billion. It has 57 branches all over the country. For more information, visit www.insularlife.com.ph.

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InLife offers free Covid- 19 insurance for workers

By Karen L. Plata

As Covid-19 virus infections escalate in the country, Insular Life (InLife) is offering free Covid-19 insurance to help essential workers cope with the disease.
    The free insurance cover is under a program called “Chain of Protection” (CHoP), to provide financial protection to 110,000 people who work in vital, non-medical industries.
    Launched in celebration of InLife’s 110th anniversary in 2020, the offer runs until November 24, 2021 or until the 110,000 free insurance shall have been taken, whichever comes first.
    “Since the start of the pandemic last year, most of our own employees are working from home until today. Unfortunately, many of our kababayans in other industries need to go out every day because their products and services are essential to the population and to the economy,” said InLife Chairperson Nina D. Aguas. “We want to give them peace of mind through the Chain of Protection program.”
    The free insurance provides coverage of P50,000 for deaths due to accidents or the Covid-19 disease. CHoP also covers an allowance of P500/day for a maximum of 10 days if the patient is admitted due to Covid-19 or if the hospitalization is due to an accident.
    The free life insurance and hospitalization allowance is limited to 45 days upon signing up.
    “We noticed that those with limited financial means suffer the most when they get infected by the corona virus.
    Through this program, we hope to be able to ease some of these financial burden,” Aguas added.
    For the complete list of industries and workers covered by the program, please visit www.chainofprotection.com.ph to sign-up.
    Insular Life (InLife) is the first, largest, and only mutual Filipino life insurance company in the country with over 109 years of uninterrupted service.
    The company applices over a hundred years of experience in financial protection, risk management, savings, and investment to clients make confident decisions for you and your loved ones. 
    “As a mutual life insurance company, our accountability is to our policyholders, PhilAm said in a statement. “They can be assured of being protected by a company that has an asset base of over P143 billion and net worth of P43 billion. We have a nationwide presence in 54 branches all over the country, and an expanded digital footprint to serve our customers, wherever and whenever they want. Our success is anchored on the growth and security of our partners, policyholders and beneficiaries, because we exist to offer a lifetime for good for everyone.” 
    For more information, visit www.insularlife.com.ph.
 

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Insular Foundation is Asia CEO Awards’ World Vision CSR Company of the Year

Insular Foundation team poses with World Vision CSR Company of the Year trophies from Asia CEO Awards, the largest business awards event in the Philippines and Southeast Asia. (From left) Insular Foundation’s program specialist Michelle Anne Casibang, executive director Ana Maria Soriano, program manager Teresita Melad, and program assistant Sheila Mae Geroche.

By Karen L. Plata

Insular Foundation, the social responsibility arm of Insular Life, was recognized as the World Vision CSR Company of the Year by Asia CEO Awards 2020.
    Insular Foundation focuses on helping the Filipino youth achieve quality education through various programs such as its enduring Gold Eagle Scholarship Grant for College Students, Adopt-A-Scholar program for public elementary school pupils, donation of disaster-resilient classroom buildings for public high schools, storytelling workshops, and donation of children's storybooks to elementary students.
    Insular Foundation also contributes to the country’s environmental protection efforts in partnership with local government units and non-government organizations such as: the Kawayanihan Project in Lubao, Pampanga; and donation to the Philippine Eagle Foundation to support their research and conservation efforts for the endangered Philippine Eagle.
During the pandemic, the Foundation provided Personal Protective Equipment, and free life insurance and hospitalization allowance to frontliners in nine hospitals in Metro Manila.
    “Insular Foundation is one of the first corporate foundations in the country, focusing primarily on access to quality education, youth development, environmental protection and conservation, and employee volunteerism. Established in the early 1960s, it marked its golden anniversary last year,” Asia CEO Awards said during its recent online awards night.
    “The Foundation’s initiatives are geared towards creating a sustainable planet and investing in human development for a better future for our country. These projects also magnify the mother company’s commitment for the Filipino people,” Asia CEO Award added.
    "Insular Foundation has been working quietly but consistently for more than 50 years, and we are happy that we have been given the opportunity to create significant impact in the lives of the people we have assisted all these years. We also thank World Vision for putting a spotlight on corporate social responsibility as we are able to celebrate the other corporate foundations who are doing excellent work for social good," shared Insular Foundation Executive Director Ana Maria R. Soriano.
 
 

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Insular Life offers global investment for savings

By Karen L. Plata

Restricted travel and limited dining-out during the lockdown period created savings for some Filipinos.
Insular Life (InLife), the country’s largest Filipino life insurance company, is offering a life insurance and investment plan that will put these hard-earned savings to work.  
    Called the “InLife’s Wealth Assure Guaranteed Issue Offer” (GIO), the product is an investment option for those who wish to put their money in the global market and technology winners.
    This life insurance and investment plan is available until Sept. 30, 2020.   
    “InLife understands that Filipinos need to plan for their family’s future and make prudent investment decisions during this time of uncertainties. Our Wealth Assure GIO responds to these two financial needs at the same time,” InLife president and CEO Mona Lisa B. Dela Cruz said.       
    Since this product is a guaranteed issue offer (GIO), there is no need to go through the usual insurance application process with lengthy forms and medical exams.
    There will be no long waiting time, as InLife financial advisors will assist in the application process digitally. 
    Aside from its investment component, InLife Wealth Assure GIO provides life insurance coverage equivalent to five times the annual premium.
    The plan’s built-in investment feature boosts insurance coverage by putting premiums in Peso Global Equity Fund or Peso Global Technology Fund.  
    The Peso Global Equity Fund gives access to the world’s market leaders which have constantly issued dividends through the years. Peso Global Technology Fund, on the other hand, seeks to achieve long-term capital appreciation through investments in equity securities of technology companies around the world.   
     Secure your family’s future. Visit www.insularlife.com.ph/wealth
assure-gio to know more about InLife Wealth Assure GIO; or call 02-8-876-1800 and e-mail inquiry@insular.com.ph to get in touch with an InLife Financial Advisor. 
    Insular Life (InLife) is the first, largest, and only mutual Filipino life insurance company in the country with over 109 years of uninterrupted service.
    It has an asset base of over P143 billion and net worth of P43 billion. We have a nationwide presence in 54 branches all over the country, and an expanded digital footprint to serve its customers.

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Insular Life offers global investment for lockdown savings

By Karen L. Plata

Restricted travel and limited dining-out during the lockdown period created savings for some Filipinos.

               Insular Life (InLife), the country’s largest Filipino life insurance company, is offering a life insurance and investment plan that will put these hard-earned savings to work.  

Called the “InLife’s Wealth Assure Guaranteed Issue Offer” (GIO), the product is an investment option for those who wish to put their money in the global market and technology winners.

This life insurance and investment plan is available until Sept. 30, 2020.   

“InLife understands that Filipinos need to plan for their family’s future and make prudent investment decisions during this time of uncertainties. Our Wealth Assure GIO responds to these two financial needs at the same time,” InLife president and CEO Mona Lisa B. Dela Cruz said.       

Since this product is a guaranteed issue offer (GIO), there is no need to go through the usual insurance application process with lengthy forms and medical exams.

There will be no long waiting time, as InLife financial advisors will assist in the application process digitally. 

Aside from its investment component, InLife Wealth Assure GIO provides life insurance coverage equivalent to five times the annual premium.

The plan’s built-in investment feature boosts insurance coverage by putting premiums in Peso Global Equity Fund or Peso Global Technology Fund.  

The Peso Global Equity Fund gives access to the world’s market leaders which have constantly issued dividends through the years. Peso Global Technology Fund, on the other hand, seeks to achieve long-term capital appreciation through investments in equity securities of technology companies around the world.   

                Secure your family’s future. Visit www.insularlife.com.ph/wealth

assure-gio to know more about InLife Wealth Assure GIO; or call 02-8-876-1800 and e-mail inquiry@insular.com.ph to get in touch with an InLife Financial Advisor. 

                Insular Life (InLife) is the first, largest, and only mutual Filipino life insurance company in the country with over 109 years of uninterrupted service.

It has an asset base of over P143 billion and net worth of P43 billion. We have a nationwide presence in 54 branches all over the country, and an expanded digital footprint to serve its customers.

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