8 things trustworthy life insurance company in the Philippines should have for retirement

Planning to retire at 50? A trusted insurance company can help you secure your future with health protection or investments that help grow your money. Here are the 8 things you should look for in a trustworthy life insurance company in the Philippines when your goal is to be ready to retire at age 50.

1. License

The insurance company must, first and foremost, be a licensed insurer in the Philippines. The country’s insurance regulator is the Insurance Commissioner of the Insurance Commission under the Department of Finance. Companies that provide pre-need contracts, and the insurance agents who represent them, must be licensed. Their authorizations and licenses need to be renewed every three years.

2. Ease of Filing an Insurance Claim

FWD Life Insurance cuts the red tape and delivers a quick and hassle-free service when it comes to policy claims. FWD’s website has a Claims Portal, or you can download the Omne by FWD application for easier access. Once you have filed the initial report, a Claims Ambassador will reach out to you and assist you in every step of the process.

3. Innovation and Easy Access

Innovation is at the backbone of FWD’s growth. The company is focused on creating fresh customer experiences with easy-to-understand insurance products supported by leading digital technologies. From end-to-end digital sales processes to its mobile app Omne, FWD invests in technology and systems that are customer-led and provide easy access to everything that customers need.

4. Easy to Understand Contracts and Processes

It’s easy to get insurance, but understanding what it all means is challenging. FWD makes the language straightforward and understandable for customers—and its agents are always ready to answer questions, whether it’s about investments or insurance cover.

5. Financial Stability

In selecting an insurance company for retirement readiness, you have to consider the insurer’s financial stability. The Insurance Commission does this for you as it releases an annual list of top insurance companies in the Philippines so you do not have to crunch the numbers yourself. Spare some time to inquire from family and friends who have insurance plans, and get insights from online reviews on which companies provide good overall service.

6. Customer Service 

There are two types of customer service you have to take note of: before and after the purchase of a plan. With its Customer Support, FWD makes it easy for customers to inquire, plan, request, file a claim, check policy details, or track investments.

7. Range of Insurance Products

A trustworthy insurance company should offer a wide range of insurance products to meet your various needs, from health and life protection to retirement savings and investment plans. This ensures that you can find a plan that fits your specific requirements and goals.

8. Reputation and Trustworthiness

Finally, consider the reputation of the insurance company. Look for reviews and testimonials from other customers to gauge their experiences. A trusted insurance company in the Philippines will have a strong track record of reliability and customer satisfaction, giving you peace of mind.

By considering these factors, you can find a trustworthy insurance corporation that will help you achieve your retirement goals with confidence.

FWD Life Insurance offers a new kind of insurance—it’s easier to buy, easier to claim, and easier to understand. This isn’t the way insurance usually feels, but this is not your usual insurance company.

To help you realize your plan to retire at 50, check out FWD’s Set for Life, Health Bundle, or Manifest to help you get ready with your life, health, and financial protection needs.

Contact an FWD financial advisor today to help you make your retirement an enjoyable one.