Insurance in the Philippines is given controversy due to what happened in couple of insurance companies that was not able to give their benefits to their insurance clients or policy holders. But now it’s different.
We already have the Insurance Commission to make sure it won’t happen again. One of the conditions in pre-need companies is to have a required trust fund so you can sustain the insurance business. This is also good when the country’s oldest established bank partnered with one of the country’s established insurance company has their own building and kick off their campaign to orient the public about Bancassurance.
BPI and PhilAm Plans got what it takes to make the insurance business trustworthy in the public’s eye and will orient people why everyone should invest in one. With this partnership, it may be easy to claim benefits or pay dues.
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