Insurance is an integral part of a solid financial plan. It is a sound investment because it gives you and your family financial protection in case of sickness or death. It also gives you peace of mind, knowing your loved ones will be taken cared of no matter what happens.
There are many insurance companies out there and going through all the different offerings they have can be overwhelming. Before making an investment, it helps to have an additional source of information you can trust, such as your own private bank. Chances are, you’ve been with your bank for many years and you are sure that they will always keep your money safe and secure. This is where bancassurance comes in.
Bancassurance is the partnership between a bank and an insurance company. Because of this partnership, life insurance products are sold within the bank’s premises, with the approval of both the Insurance Commission and the Bangko Sentral ng Pilipinas.
BPI-Philam is the number one bancassurance company in the Philippines. It is a strategic alliance between two leading companies in the country: The Philippine American Life and General Insurance Company (Philam Life) and Bank of the Philippine Islands (BPI). These two market leaders are united in their common goal of helping Filipinos achieve financial security and wellness. Thus, the partnership becomes even more advantageous to their customers.
Here are just some of the benefits you can gain by getting insured through bancassurance: