PhilLife

What PhilLife does

PhilLife (Philippine Life Financial Assurance Corporation) is a private Philippine life insurance company founded in 1960 and headquartered in Makati City. It operates as a subsidiary of Maestro Holdings, Inc., a diversified holding group that also controls PhilCare, PhilPlans, PhilFirst, and the STI education network. The company serves individuals, families, teachers, government and private employees, and corporate clients across the Philippines through a multi-channel distribution model: licensed financial advisors, over 100 branch offices spanning Luzon, Visayas, and Mindanao, and digital platforms including an online storefront and payment integrations with Dragonpay, Paymongo, Landbank, UnionBank, AUB, Bayad Center, and Metrobank.

PhilLife's product portfolio spans four primary categories. Individual insurance includes the Prime Protect Series (whole life with savings components, lifetime coverage to age 100), Term Life Series (5-15 year terms with return-of-premium options), Capital Builder Series (endowment plans for education, retirement, and business capital with 5-20 year maturities), and SIBOL Variable Life Insurance (investment-linked product with Balanced, Equity, and Opportunity Funds managed by Metrobank Trust Banking Group). Group insurance covers corporate accounts with pre-computed and customized plans, including a Group Critical Illness plan covering 45 conditions and credit life insurance. Financial assistance comprises salary loan programs for licensed teachers (₱17K-₱1M at 5.296% p.a.) and government/private employees (₱20K-₱300K at 7.5-9.66% p.a.) with mandatory bundled life insurance. Micro-insurance products include PhilLife Dengue RX and Family/Business Accident Secure plans priced at ₱400-₱1,600 annually.

The business model is built on recurring premium and interest income. Revenue is generated through insurance premiums paid quarterly, semi-annually, or annually; investment management fees on SIBOL variable life products; and interest income on salary loans. The company is regulated by the Philippine Insurance Commission under a Certificate of Authority renewed through 2027 and holds OFW Insurance accreditation. Its proprietary technology stack consists of a digital platform supporting online premium payments, policy management, claims processing, and NAVpu-based fund performance tracking — no public APIs, mobile apps, or AI/ML capabilities are disclosed.

Name

PhilLife

Legal name

Philippine Life Financial Assurance Corporation

Website

https://phillife.com.ph

Company type

Private

Founded year

1960

Operating status

Operating

Headcount range

101–250 employees

Short description

PhilLife is a private Philippine life insurance company founded in 1960, offering individual and group life insurance, variable life products, salary loans, and micro-insurance to individuals, families, teachers, employees, and businesses across the Philippines through 100+ branches and digital channels.

Ownership category

akta.pro rank

Product category

Life Insurance

NAICS

Direct Life Insurance Carriers (524113)

SIC

Life Insurance (6311)

akta.pro primary industry

Whole Life Insurance (FSAIABAA)

akta.pro secondary industries

Level Term Life Insurance (FSAIAAAA), Basic Group Term Life (Employer-Paid) (FSAIADAA), Whole Life / UL Policy Riders & Add-ons (e.g., Waiver of Premium, Accidental Death, Child Term, LTC/Chronic Illness) (FSAIABAK)

Keywords

• Life insurance products
• Investment-linked insurance
• Group life coverage
• Salary loan services
• Endowment savings plans

Headquarters

HQ city

Makati

HQ country

Philippines

HQ region

Asia

Offices10 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure, Others

Revenue model

1. Life Insurance Premiums: PhilLife generates revenue through insurance premiums paid by policyholders for individual and group life insurance coverage. Premiums can be paid quarterly, semi-annually, or annually depending on the plan.
2. Salary Loan Interest Income: Revenue from interest charged on salary loans for teachers and employees. Interest rates vary by term length (5.296% per annum for 5-year teacher loans, 7.5-9.66% for employee loans).
3. Variable Life Insurance Investment Management: Fees from managing investment-linked variable life insurance products (SIBOL), including premium, policy, fund management, and insurance costs.

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels5 records

Core offering

PhilLife provides life insurance and financial assistance products to individuals, families, and corporate clients in the Philippines. Its offerings span individual whole life (Prime Protect Series), term life, endowment savings (Capital Builder Series), investment-linked variable life insurance (SIBOL), group life and critical illness coverage, micro-insurance (Dengue RX and Accident Secure), and salary loan programs for teachers and employees. Products are distributed through licensed financial advisors, a nationwide branch network, and digital payment channels.

Product overview

PhilLife offers a comprehensive portfolio of life insurance and financial assistance products for individuals, families, and businesses. The core offerings include: (1) Individual Insurance with three product lines — Prime Protect (whole life with savings), Term Life (affordable term coverage with ROP options), and Capital Builder (endowment plans for education/retirement/business); (2) SIBOL Variable Life Insurance for investment-linked protection; (3) Group Life Insurance for organizations with customizable coverage; (4) Short-term micro-insurance products including Dengue RX and Accident Secure plans; and (5) Financial Assistance through salary loan programs for teachers and employees. All products are distributed through licensed agents and supported by digital payment integrations and online platforms.

Differentiator

Problem solved

Functional benefit

Brands

• SIBOL: PhilLife's variable life insurance plan that allows policyholders to grow wealth through expertly managed investments while maintaining life insurance protection.
• Dengue RX
• Prime Protect Series
• Term Life Series
• Capital Builder Series
• Health Assist

Products and services

• PhilLife Prime Protect Series Whole life insurance series providing lifetime protection up to age 100 with a savings component. Three variants — Prime Protect (PHP 1M coverage for less than PHP 29/day), Prime Protect 12 (12-year premium paying, lifetime coverage), and Prime Protect Plus (annual premiums from PHP 5,000–15,000 with hospitalization benefits of PHP 450/day up to 365 days). All variants include free terminal illness benefit advancing 50% of face amount.
• PhilLife Term Life Series Affordable term life insurance series with terms ranging from 5 to 15 years. Includes Term 5 (renewable every 5 years until age 55, PHP 1M coverage for less than PHP 10/day), Term 10 with Return of Premium (50% premium return if outlived), and Term 15 with ROP. Provides minimum PHP 1M coverage with terminal illness benefit.
• PhilLife Capital Builder Series Endowment savings plans designed for education, retirement, and business capital accumulation. Six variants include Capital Builder 20 (20-year maturity), Capital Builder 40 (retirement-focused), Capital Builder College (child education), Capital Builder 5 (mid-term goals with yearly endowments), Capital Builder 15, and Certi5 (5% guaranteed annual returns).
• SIBOL Variable Life Insurance Investment-linked life insurance combining life protection with investment growth under a single policy, tracking fund value via NAVpu. Three professionally managed funds — Balanced Fund (stocks and bonds), Equity Fund (PSE-listed companies), and Opportunity Fund (diversified portfolio) — managed by Metrobank Trust Banking Group.
• PhilLife Group Life Insurance Group insurance for companies, cooperatives, schools, and member-based organizations. Includes pre-computed and customized plans, small group coverage for 10–30 employees, industry-specific plans, Group Critical Illness Plan covering 45 critical illnesses (including cancer, heart attack, stroke, kidney failure, and coronary artery bypass surgery), employee accident and dengue coverage, student insurance, cooperative plans, and credit life insurance.
• PhilLife Dengue RX Family One-year family term micro-insurance plan covering up to 5 members (2 children and 3 adults). Provides PHP 30,000 reimbursement for hospital confinement due to dengue and PHP 10,000 accidental death and disability benefit. Annual premium PHP 1,300 for individuals aged 0–59.
• PhilLife Dengue RX Business One-year business term plan covering up to 5 team members with PHP 30,000 dengue hospitalization reimbursement and PHP 10,000 accidental death and disability benefit per member. Annual premium PHP 750.
• PhilLife Family Accident Secure One-year family accident insurance covering up to 5 family members. Provides PHP 50,000 accidental death benefit and PHP 5,000 medical reimbursement per member, with package options ranging from PHP 400 (Package 1) to PHP 1,600 (Package 5) and additional dependent coverage from PHP 80 to PHP 320 per dependent.
• PhilLife Business Accident Secure One-year business accident insurance for up to 5 employees, providing PHP 50,000 accidental death coverage and PHP 5,000 medical reimbursement per member.
• PhilLife Salary Loan for Teachers Salary loan program for licensed teachers in accredited schools. Loan amounts range from PHP 17,000 to PHP 750,000 for new borrowers and up to PHP 1,000,000 for renewals. Interest rate 5.296% per annum for 5-year term, with flexible repayment of 1–5 years via salary deduction.
• PhilLife Salary Loan and Insurance for Employees Salary loan program for permanent government and private employees with loans from PHP 20,000 to PHP 300,000. Mandatory life insurance equal to loan amount (minimum PHP 25,000 coverage at PHP 4 per PHP 1,000). Repayment terms of 12, 24, or 36 months at interest rates of 7.5%, 9.0%, or 9.66% per annum respectively, plus a one-time 6% non-finance charge.

Quantifiable outcome

• ₱1 million life insurance coverage available for less than ₱29/day
• +3 more outcomes

Segments6 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration8 records

Feature3 records

Partnerships

Nine partnerships are on record, tiered core and minor.

• Globe BusinesscoreTechnology or Integration · 19 December 2024PhilLife partnered with Globe Business in December 2024 to enhance its cybersecurity capabilities. The partnership aims to safeguard clients' data in an increasingly interconnected digital environment. Signed by PhilLife senior vice president and chief operating officer Michelle Ambagan and Globe Business vice president for sales and account management Cocoy Claravall.
• Metrobank Trust Banking GroupcoreTechnology or IntegrationMetrobank Trust Banking Group manages PhilLife's SIBOL variable life insurance investment funds (Balanced Fund, Equity Fund, Opportunity Fund). As one of the Philippines' most respected financial institutions, they provide expert portfolio management for policyholder investments.
• DragonpayminorChannel Partner/ Reseller/ DistributorOnline payment partner enabling policyholders to pay premiums through Dragonpay's digital payment network.
• PaymongominorChannel Partner/ Reseller/ DistributorOnline payment partner enabling policyholders to pay premiums and loans through Paymongo's payment platform.
• Landbank (Land Bank of the Philippines)minorChannel Partner/ Reseller/ DistributorBanking partner for over-the-counter premium and loan payments through Landbank's e-payment portal.
• UnionBankminorChannel Partner/ Reseller/ DistributorBanking partner for over-the-counter bill payments of PhilLife premiums and loans.
• Asia United Bank (AUB)minorChannel Partner/ Reseller/ DistributorBanking partner enabling premium and loan payments through AUB's Virtual Teller Kiosk (VTK) system.
• MetrobankminorChannel Partner/ Reseller/ DistributorBanking partner for over-the-counter payments using PhilLife Financial merchant slips.
• Bayad CenterminorChannel Partner/ Reseller/ DistributorAuthorized collection center partner for PhilLife premium and loan payments.

Scale indicators6 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• Sun Life of Canada (Philippines): One of the largest life insurers in the Philippines with broad individual and group life offerings plus variable life products. Directly comparable to PhilLife across whole life, term, VUL, and group insurance, but with materially larger scale, AUM, and brand recognition.
• AXA Philippines: Major multinational life and health insurer offering individual life, group life, and investment-linked products. Directly competes with PhilLife in individual and group life segments while operating at significantly greater scale.
• Pru Life Insurance Philippines: Subsidiary of UK-based Prudential plc, offering individual life, health, and investment-linked products. Strong direct competitor to PhilLife in the VUL/SIBOL-like product category and overall individual life market.
• Manulife Philippines: Multinational life insurer with individual life, group benefits, and wealth/asset management offerings in the Philippines. Comparable to PhilLife across individual life, group, and retirement/savings products.
• BPI-Philam Life Assurance: Joint venture between Bank of the Philippine Islands and AIA Philippines, offering individual life, group life, and bancassurance-distributed products. Directly competes with PhilLife through bank-channel distribution that complements its agency-led model.
• Allianz PNB Life Insurance: Joint venture between Allianz and Philippine National Bank offering life, health, and investment-linked products. Comparable to PhilLife in product breadth with bancassurance distribution through PNB.

Direct peers

• Insular Life (Insular Life Assurance Company): One of the largest Filipino-owned life insurers, offering individual life, group life, and pre-need plans. Closest direct peer to PhilLife in terms of domestic heritage, product portfolio breadth, and historical positioning in the Philippine market.

Emerging players

• FWD Life Philippines: Pan-Asian life insurer with digital-first distribution and simplified product offerings in the Philippines. Competes with PhilLife particularly in term life, accident, and micro-insurance segments with a more tech-enabled model.
• Singlife Philippines: Singapore-headquartered insurtech with Philippines operations offering digital life and savings products. Represents the digital-first competitive threat to PhilLife's traditional agency and branch-led distribution model.

Others

• PhilPlans First, Inc. Sister company under Maestro Holdings offering pre-need and education plans. Operates within the same parent group as PhilLife and is led by overlapping executives (Monico Jacob, Eusebio Tanco). Comparable in governance and ownership structure, though focused on pre-need rather than traditional life insurance.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/phillifeph
• Facebookfacebook.com/PhilLifeFinancial
• LinkedInlinkedin.com/company/philippine-life-financial-assurance-corp-

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about PhilLife