How to Claim an Insurance Policy

How to claim an insurance policy

The purpose of a life insurance policy is to protect your family and your other assets when you are gone.

Now, we’re sure that you have heard some insurance horror stories wherein the beneficiaries weren’t able to claim the money from the insurance company due to many reasons like unfinished payment, elapsed claiming time, lost receipt or certificate of full payment, incomplete requirements, or a policy that the family wasn’t even aware of at all!

Insurance Claim Form

Instead of comfort, these are added stress to the beneficiary. Bear in mind that it is not the insurance company’s responsibility to inform your beneficiary about their benefits when you die, that is yours! (While you’re still alive, that is.)

it is not the insurance company’s responsibility to inform your beneficiary about their benefits when you die, that is yours!

Here are some tips so that claiming would be easier for your family:

1.Get an insurance policy from a large company

Sa malaking insurance company, mas organized ang proseso ng pag-claim. It is also easier to look for information about the company’s claiming process online. And since it is a big company, there is a smaller chance for it to be bankrupt. (Take note: smaller chance, but still possible)

2.Know all the requirements of claiming

Go to the company website or ask the insurance agent who sold you the insurance package. You should know ALL the requirements and process of claiming. List them down and try to accomplish what you can.

You can start by getting the basic requirements like birth certificate, marriage certificate, and others to make it easier for your beneficiaries. This is especially true, lalo na kung bata pa yung beneficiary. Sino ang mag-aasikaso nun pag patay ka na? Ikaw parin?

Dapat, handa na ang lahat ng requirements mo. Dapat death certificate nalang ang idadagdag dito. Morbid? Yes, pero bakit ka nga ba uli bumili ng life insurance?

3.Collect everything in one envelope

Once you’ve gathered the basic requirements, put everything in one envelope. Make sure that you label it properly and have a checklist of requirements that your beneficiary still has to get.

Also, label the envelope properly. Put the name of the insurance company, contact number, website, insured amount, and the name and number of the person who sold you the policy.

It is better if your family knows the agent who sold you the product personally. This way, they will know who to go to after you’re gone. It’s best to do these things while you still have time, because who knows, right?

4.Let the beneficiaries know that you have an insurance package

You should inform your spouse, children, or whoever your beneficiary is that there is an insurance package and how much they will get.

Some people never mention this information to their beneficiary, na may makukuha sila kapag may di inaasahang pangyayari. Kasi, baka nga may mangyari! Kung duda ka sa kanila, bakit mo pa sila ginawang beneficiary?

Seriously, who will tell them about your policy kung patay ka na?

It’s sad that family members find out about the insurance years after, and worst, it’s beyond the claiming deadline at wala na silang makukuha pa. Sayang naman ang pinaghirapan mo para sa kanila.

5.Make sure that you pay the monthly premium regularly

Don’t let the late charges accumulate and skip on paying the monthly fees because if something happens to you and the payment is not updated, it is possible that the policy will be void and your beneficiaries won’t get anything just because you forgot to pay a few hundred pesos.

6.Ask for the certificate of full payment

Once you’re finished paying the insurance premium, don’t forget to ask for a certificate of full payment from the insurance company so that there will be a proof when your beneficiary has to claim.

If the insurance is not yet fully paid, be sure to keep all the receipts in case it will be needed in the future.
Did you know that even a centavo of unsettled payment may cause for your beneficiary to not get anything?

7.Maintain contact with the insurance company

After you complete your payments, keep contact with the insurance company. If your current agent retires or leaves the company, make sure you know who will replace him or her.

Keep yourself updated with the requirements, procedures, and forms because they keep on changing it.

We hope by now you see how important it is to take the time to monitor your investments like your life insurance. After all, the very purpose of this investment is for your family to be secure even after you are gone. This is more than just money, but a legacy that you will leave to them.

Aya Laraya, Investment Advocate

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  1. Anastacia says

    Hi Aya,

    Really thankful for this blog. This would be of great help for me.
    Hope you continue on your advocacy fir the betterment of ordinary people like us. more power.Godbless!

  2. Janssen says

    Hi! This is a very helpful advice. Preparing requirements to claim life insurance is probably one of the things that insurance holders will want to put off. This advice is very real. Thanks!

  3. Jet says


    I saw in the news that PPI is now under liquidation. Could you please advise me on what I should do with my Prudential life Memorial Plan since I am working overseas. Thank you.


  4. Rose says

    Thank u for sharing this information hopefully Generali Pilipinas – affiliation with Banco de Oro is in good status.

  5. Lhen says

    hi aya,

    gusto ko lng itanong how i can determine if the holding company is real and not scam, im working abroad and i want to start investing. after i watched ur season 1 in pesos and sense i learned a lot. but tulad nga still i want to be sure sa ppsukin ko n hnd xa scam, kukuha kc ko ng insurance at same time its 3 in one already like health insurance, life insurance and also an investment after 5yrs. in 6th to 15yrs my money i invest will grow. i know it could long term. and then they offer mutual funds it will fits to me coz i just need to put money for long term then just leave it and let it grow. i think the 12% average annual they giving is pair enough not to be scan. but they have principle too that to have extra cash flow in which if we recruites 1 member to registered from there 1st annual payment i could have 20% in return (on insurance ito) thats why i get confuse. i really want to start on it. can you help me panu ko mlalaman na legal cla and how i can make sure that the fund manager is not fake or run on the money. one more thing after registration they will give us account wer we can see our money details of everything.

      • CJ says

        Lhen, is it IMG you’re talking about? If yes, it is legal, not a scam. You can leverage on their mutual funds. However you should be careful on the products you will take from them. Some are good, some aren’t. (Especially with the insurance part)

        • Shirley says

          what you mean Sir CJ na insurance under IMG is not good enough, meron n po b kayong experience s kanila? Please do email me. Thanks

  6. al says

    Sir Aya,

    Gusto ko sana uling kumuha ng life insurance , dahil un unang kong insurance na kinuha nabankcrupt(PPI). Nag-iisang insurance lang ang ito na kinuha ko nun bata-bata pa ako, siyempre hindi ko naman alam na magkaka-aberya ito, so ngayon , nagbabalak uli akong kumuha uli, ang problema dahil me edad (41)na ako, malaman malaki na un premium na babayaran ko. Ang tanong ko; ano kaya sa palagay mo ang insurance na bagay para sa akin(non smoking ako), ito kaya ay term, whole o VUL.
    Sa tagal na ng experience ninyo sa ganitong kalakaran, alam ko halos lahat ng mga insurance company e alam ninyo na ninyo kung alin ang talagang malaki at matatag na insurance company, pwede po ba kayong magrekomenda o magsuggest kung anong insurance company. Hindi po ninyo maiaalis sa akin ang maging sigurista na for the second time around at nais ko lang sabihin na ayaw ko ng maulit pa un nangyari sa unang kong insurance.

    Maraming pong salamat.

  7. aliza says

    hi sir, can i ask if you can give name of a good life insurance company? after watching PNS, i became interested to open an account but I’m afraid to be scammed. Thanks.

  8. Christian says

    Good day!

    Sir Aya, I just want to ask lang po. I already paid my Life Insurance at GENERALI PILIPINAS in one time which is 200k up, but now in need ako ng money for some urgent matters. Gusto ko sana to make withdrawal which is 80k, would it be possible to transact?

    • Rose says

      Christian -You may obtain policy loan anytime for an amount not exceeding from NET Cash Value + any cash value of paid -up insurance from dividends and read your insurance policy.

  9. says

    Hi, Aya! I definitely agree with you, it’s really our responsibility to inform our loved ones about our Insurance. Thanks for sharing this very helpful article! I’ve been watching Pesos and Sense for quite a while now on YouTube, I hope to see another season of your show! More power! God bless! :)

  10. Mike says

    Hi Aya – i need some advise on what to do with my investment in insurance. I have 2 policies; 1 is more of an investment (Balanced fund 200K insurance coverage) the other is unit-linked (but higher insurance coverage). I got the former way back 2007 but has not yet grown that much (early insurance charges) but is already substantial (100k +) that I am thinking of investing in the stock market for higher returns long term. Would this be a good financial plan? I do not have an emergency fund but I do have company stocks at least 3 months my salary and a Starter COL Account. I’m nearing my 30s so I was thinking of taking advantage of growth. Thank you in advance.

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  12. Claudine Malis says

    Hi Sir! What do you think of SunLife? Have you met people who had a hard time with SunLife? How about people who were able to claim? Salamat po, Sir.

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