Complete List of Life Insurance Companies in the Philippines

Even in modern times, scams are still widespread, and this may be due to people’s desire to become wealthy quickly. Unfortunately, some individuals exploit this knowledge for their own gain. As a customer, it is essential to conduct thorough research when offered products or services that appear to be “too good to be true.” For example, when presented with a life insurance plan, it is crucial to verify the existence and reputation of the company offering the plan. Visit Our website for more information.

Why You Need Life Insurance

Have you ever found yourself crossing the pedestrian lane only to have a fast-moving car suddenly appear right in front of you? The surge of gratitude that comes over you as you exclaim, “Thank you, Lord!”

However, if you have a life insurance plan, your reaction might be different, and you might say, “Thank you, Lord, I haven’t had to use my insurance yet!

This is just one of the many close calls we experience in our daily lives. You might dismiss it and move on, and that’s okay. But what if, just what if, something were to happen?

One thing is certain: your family is not emotionally prepared for your sudden departure. It’s an overwhelming feeling, as they cannot help but be engulfed in tears, knowing that someone they love deeply is no longer with them.

Moreover, they might not be prepared physically or financially to stand on their own. But, this is a preventable circumstance, as you can plan ahead by obtaining a life insurance policy.

3 Things to Consider Before Buying a Life Insurance


It is important to remember that the life insurance plan you choose should meet your financial requirements. It is easy to become fixated on the cost and overlook the various aspects of insurance that also require careful consideration.

To ensure that you select the right life insurance plan, there are several key factors that you should keep in mind. These include:

1. Choose a Reputable Company

To determine if an insurance company is trustworthy, you can confirm if it is being monitored by the Insurance Commission. Generally, it is advisable to consider purchasing a life insurance policy from one of the top 5 insurance companies in the Philippines. These companies are typically financially secure and offer a satisfactory customer experience.

2. Meet a Financial Advisor

I suggest that you make an appointment with a Financial Advisor. You don’t need to feel anxious as there’s no obligation to make any purchases. It’s important to remember that although you can find information online, it may not give you a complete understanding of your situation.

Speaking as a Financial Advisor, I can attest that what you find online is just the beginning. By meeting with an advisor, you can gain a deeper understanding of how financial planning can benefit you and help you reach your financial objectives.

3. Remember to Ask Questions

Remember to ask any questions that you consider important to you. Think of it like when you’re purchasing a pair of shoes; you wouldn’t just buy them because they look nice, right? You would check who made them, what materials were used, the price, how comfortable they are, and so on. As the client, it’s your responsibility and right to do your due diligence.

List of Life Insurance Companies in the Philippines


The following is a comprehensive roster of life insurance companies operating in the Philippines under the regulation of the Insurance Commission (IC).

Below is the list of life insurance companies in the Philippines:

1. Sun Life of Canada (Philippines) Inc.

Sun Life, which was established in 1895, holds the distinction of being the Philippines’ first and most ancient life insurance company. In 2019, the company achieved the top spot in the nation’s life insurance sector for the eighth consecutive year.

2. Philippine AXA Life Insurance Corporation

“AXA, established in 1999, is a leading life insurance company in the country that has experienced rapid growth. It is also known for being the pioneer of the bancassurance operation. AXA is a joint venture between AXA Group, GT Capital Holdings, and Metrobank.”

3. Pru Life UK

In 1996, Pru Life UK was founded in the Philippines as a subsidiary of Prudential plc, which is based in the United Kingdom. The company is credited with introducing the investment-linked life insurance plan, also known as the VUL plan, which has since become a popular insurance option in the country

4. Philam Life

The Philippine American Life & General Insurance Corporation, commonly known as Philam Life, was established by Cornelius Vander Starr and Earl Carroll in 1947. At present, Philam Life holds the distinction of being the largest insurance company in terms of assets and net worth.

5. BPI-Philam Life

The strategic partnership between Philam Life and BPI has made the company the top bancassurance provider in the country.

The company’s strong financial position and the endorsement of popular ambassadors such as Charo and Piolo are not the only reasons for its popularity among Filipino households. It is also the company’s dedication to improving the quality of life for every Filipino family that sets it apart as the preferred choice for many.

6. BDO Life

In 1999, a partnership was formed between BDO and Generali Pilipinas Life. However, in 2016, BDO obtained complete ownership of Generali Pilipinas Life.

7. Manulife

Manulife was established in 1907, making it one of the oldest life insurance companies in the Philippines. It is a subsidiary of Manulife Financial Corporation, one of the largest financial services companies in the world.

8. FWD Life

In 2014, FWD Life Insurance Corporation commenced operations in the country. Although the company was relatively new in the industry, it still managed to secure the 8th spot in the life insurance sector based on the annual premium equivalent for new business.

9. Cocolife

The United Coconut Planters Life Assurance Corporation, commonly known as Cocolife, is the largest stock life insurance company in the Philippines that is owned by Filipinos. Additionally, Cocolife holds the distinction of being the only life insurance company in the Philippines that is both ISO-certified and Filipino-owned.

10. Insular Life

Insular Life is a life insurance company that is both the first and largest Filipino-owned insurance company with a century-long history in the industry. Additionally, it operates as a mutual company, meaning that its shareholders are also its owners.

11. Allianz PNB Life

Allianz PNB Life commenced operations in 2001 and has since become a significant player in the life insurance industry in the Philippines. This feat was achieved through the exclusive distribution partnership between Allianz and the Philippine National Bank.

12. SunLife Grepa Life

Sun Life Grepa Financial, Inc. is a collaborative effort between two prominent companies in the Philippines, namely the Yuchengco Group of Companies (YGC) and Sun Life Financial Philippines. YGC is the largest conglomerate in Asia, while Sun Life is the top life insurance company in the Philippines. Together, they form Sun Life Grepa.

Manulife Chinabank Life” can be rephrased as “Manulife China Bank Life Assurance Corporation is a partnership between Manulife Philippines and China Bank, with the objective of offering a diverse selection of cutting-edge insurance products and services to customers of China Bank.”

14. Pioneer Life

In 1964, Pioneer started its life operations. After forming a joint venture with Allianz AG from Germany in 2003, they decided to transition into becoming a fully Filipino-owned company.

15. BenLife Insurance

“Beneficial Life Insurance” or “BenLife” is a life insurance company that is entirely owned by Filipinos. It was founded on March 16, 1960, with an initial authorized capitalization of P2.5 million. Currently, the company has a paid-up capital of almost P1 billion and total resources of over P6.0B.”

Here are the other Life Insurance Companies under the Insurance Commission:

16. AsianLife & General Assurance Corporation
17. East-West Ageas Life Insurance Corporation
18. Paramount Life & General Insurance Corporation
19. Country Bankers Life Insurance Corporation
20. Fortune Life
21. Generali Life
22. Cooperative Insurance System of the Phils
23. CLIMBS Life & General Insurance
24. First Life Financial Company
25. Manila Bankers Life Insurance
26. Philippine Life Financial Assurance Corporation
27. Phil International Life Insurance Corporation
28. Caritas Life Insurance
29. Philam Equitable Life
30. United Life Assurance

Final Thoughts:

It’s important to invest time in learning about the company from which you plan to purchase your life insurance policy. complete list of life insurance companies in philippines Since this decision involves your money and your family’s future, it’s essential to ensure that you’re getting the coverage you require. I hope that the list of life insurance companies in the Philippines has aided you in verifying whether the offer you received is from a reputable organization.

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