Group Life Insurance

What does a group life insurance cover? Death of the employee regardless of cause except suicide during the first year or sometimes the first two years. It can cover death outside working hours or outside the place of employment. It may cover both accidental or natural death such as by sickness. Notes: In a non-contributory […]

Termination and Reinstatement

How to stop life insurance When you stop your life insurance as a policyholder, this is called “surrendering”. You can get immediate value when you surrender your life insurance policy depending on what kind it is.  If it is non-participating life insurance (like Sun Fit), you would get the Cash Value. Non-payment, Reinstatement Period, and […]

Add-ons or Riders and Premiums

What are riders? These are separate provisions from the life insurance policy which enhances it and provides benefits of a different nature. Disability Waiver of Premium Rider the payment of premiums is set-aside or cancelled when the person is disabled.  But the disability must be total and permanent and must have continued for a specified […]

Settlement and Claims

Cash Value – is the savings element that builds up in permanent insurance plans Cash Surrender Value – the sum of money an insurance company pays to a policyholder or an annuity contract owner if their policy is voluntarily terminated before its maturity or an insured event occurs. Extended term insurance option – allows the policy owner to use the […]


Revocable primary beneficiary vs. Irrevocable primary beneficiary vs. Contingent In general, beneficiaries can only receive the policy proceeds if he is alive at the time of the insured’s death. The irrevocable primary beneficiary will receive the face amount of the life insurance free of Estate Tax. He cannot be replaced without his consent or signature. […]

Standard vs. Sub-standard rates

“Substandard rate” – refers to premiums charged to persons who are considered higher-than-average risk categories or applicants with moderate physical impairments. Increased rates. Applicants with sub-standard risks may be insured at increased rates to compensate for the extra hazard. Some substandard rates are not permanent – in some cases, a person may be considered sub-standard […]

Other life insurance types

Modified Life Policy is where the initial premium rate applies to the first 5 years of the policy and a higher premium rate applies to the remainder of the premium-payment period. “Joint Life Policy” This is a policy that covers two or more persons at the same time, and the face amount or benefits will […]

Traditional Life Insurance

What is Traditional Life Insurance? Policyholders do not have investment options but may savings or guaranteed cash components Premiums, cash values and death benefits are pre-determined Implicit charges The reason why it is called traditional is that what insurance used to be before the innovations of VUL has come. Under traditional policies, we have non-participating […]

Factors affecting life insurance policy

Life insurance applications usually carry large amount of information relating to the insurability of the applicant such as employment, medical condition, and family history. Why do insurance company need to appraise the risks in the life of a person? This is to prevent anti selection. What is antiselection? Also known as adverse selection, is when […]

Best Life Insurance in the Philippines

The best life insurance in the Philippines can be determined by its financial reports. This means that a company is trusted, stable, and has enough assets to keep its promise of security.  Stability is one of the top criteria to look for in a life insurance company. After all, you are searching for a company […]