Insular Life (InLife) is revolutionizing its insurance application process by introducing more inclusive underwriting guidelines. The company aims to break down barriers and extend financial protection to a broader segment of the Filipino population.
The updated rules specifically benefit previously underserved groups, including individuals with specific medical conditions, overseas Filipino workers (OFWs), military and police personnel, and residents of select Mindanao regions. By expanding approval scopes and coverage, InLife demonstrates a commitment to accessible and flexible insurance solutions.
“Our enhanced underwriting guidelines are a testament to InLife’s resolve to ensure Filipinos have better chances at securing their finances throughout their lives,” said Diana A. Tagra, first vice president and Insurance Operations Division head. “We recognize that insurance should be accessible to everyone, regardless of health conditions or profession. These changes demonstrate our commitment to delivering flexible, inclusive, and competitive solutions that meet our customers’ diverse needs.”
Key Enhancements in Underwriting Guidelines:
- Improved Approval for Medical Conditions: Standard premium rates will now apply to individuals with certain medical conditions that previously resulted in higher premium rates. Examples of these conditions include above normal BMI, controlled hypertension, elevated cholesterol, fatty liver, and strong family histories of certain medical conditions.
- Diabetics for InLife’s Critical Illness Coverage: Diabetics who are 20 to 65 yrs old, with well-controlled blood sugar, may now be covered under InLife’s critical Illness product, Resilience, subject to medical underwriting and rating. Coverage will be considered for individuals meeting certain health criteria.
- Expanded Coverage for OFWs and Military Personnel: OFWs, just like any other insurance applicants, may now apply for coverage amounts based on their financial profile and needs. They may also apply for an Accidental Death Benefit rider. However, their eligibility will still be subject to underwriting based on their country of work and the duties they perform. Likewise, Military and police personnel are also eligible for increased coverage and additional benefits, providing security for the families of those who secure our country.
- Coverage for Foreign Nationals and politicians: Resident foreign nationals who have appropriate resident visas may now apply for life insurance with InLife. Meanwhile, politicians may now opt for higher coverage up to 90 days prior to, and one month after, the elections.
- Increased Coverage for Residents in Specific Regions: While certain areas in Mindanao were previously excluded, coverage is now available with limits to provide financial protection for Filipinos residing in these regions.
These immediate changes demonstrate InLife’s customer-first approach, balancing competitive risk assessment with meaningful financial protection. By continuously evolving its offerings, InLife remains dedicated to its mission of providing “A Lifetime For Good.”
For more information on InLife, visit https://www.insularlife.com.ph/.
