A Weekend Project

Making an insurance Claim

Making an Insurance Claim

Last July 2013, I wrote a piece regarding claiming insurance benefits.

So, to the people who have policies and have read the blog, have you made the necessary preparations? O binasa mo lang ba and moved on? Aminin. :P

I cannot stress this enough:

It is YOUR responsibility to ensure that your beneficiaries get the benefits that YOU paid for. And if YOU don’t make the necessary preparations, then who will?

That being said, why don’t you try doing this small project in the coming weekend: Make a video.

Kahit anong camera, pwede. Just shoot a video of yourself explaining to your child / spouse / partner how they can claim the benefits.

Video should include the following:

1. Show them the policy so they know what it looks like. Tell them where you placed it.

2. Tell them who sold it to you and where that person can be reached. (You will have to update this in the future though. )

3. Enumerate the documentary requirements. You can get this from your agent. If possible, fill up the documents already and tell them where you placed them. (You will also need to update this every few years or so.)

4. Clearly state WHERE and to WHOM they should bring the documents to.

5. Tell them how much they should expect to receive and what the money is supposed to be for. (Pambayad estate taxes ideally.)

6. Tell them you love them and you did this for them.

7. Store the video securely.

Morbid ba? Medyo.
Hassle ba? Oo.

Pero bakit ka nga bumili ng insurance ulit?
At kung hindi mo gawin ito, eh paano ka nakakasiguro na matatanggap nila ang hinanda mo para sa kanila?

(FYI, why am I bringing this up again? Because I just spent most of the afternoon speaking to a person who had absolutely no idea they were the beneficiary of an insurance policy and is completely clueless how to proceed. Tinatawagan yung “helpline” nung company, wala naman daw sumasagot. Lol.:))

If you know someone with an insurance policy, please share this with them.


Aya Laraya, Investment Advocate

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    • Luis says

      It’s dependent on your specific goal. Pangeducation ba iyan ng bata, pangretirement or pangbuild ng fund para sa isang future goal (like a house or car)?

      Hope this helps.

  1. cherie says

    which insurance company is good?i’m planning to get for my family but don’t know which company. some says philam is good, or insular or sunlife but some says also negative and have complaints. also how i will be sure that the company will still provide me my returns or my beneficiary in the future? if im not mistaken before there is a big company closed i dont know what happened to the policy holders because im still young at that time.

    • Jess says

      Look for an insurance company that serves better, has affordable premiums, compare first proposals like the benefits, coverage, an insurance company that has technology…..research in the insurance commission website…to check the best company in terms of assets, net worth….

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