Life Insurance In The Philippines For Expats

If you’re planning to move to the Philippines, or you’re already living there as an expat, it’s important to think about your finances. Part of that financial planning might include taking out life insurance.

Life insurance is becoming an increasingly noticeable part of Filipino society as more and more people start to think about the longevity of their family’s finances. Between 2016–2023, the number of people with life insurance in the Philippines tripled from 11 million to 33 million (about 29% of the country).

As an expat in the Philippines, you have many options available when it comes to choosing life insurance. In this article, we’ll explore some of those options to help you make an informed choice.

Life insurance in the Philippines

After a challenging decade, which has included the Philippine drug war, the COVID-19 pandemic and the cost of living crisis, more people in the Philippines than ever before have started to think about their family’s long-term financial futures, and many are turning to life insurance as a way to ensure their family will be protected after they’re gone.

This is especially true for expats living in the Philippines, who benefit from life insurance in a number of ways. Life insurance is not only important if you have a family who depend on your income, it can also help you to make the most of life while you’re still alive. Life insurance may be important to you if you intend to start a business or purchase property in the Philippines, for example.

Ready to get started with a life insurance policy?

Get a quick quote online today – it takes less than 2 minutes

Choosing the right policy

When looking for the best life insurance in the Philippines to suit your needs, you have two options: going with a local insurer, or choosing specialist international life insurance.

Local insurer

A local insurer is a life insurance provider based in the Philippines. Their policies will tend to provide coverage only in the Philippines, meaning you may not be covered if you travel overseas. This means you may not have cover if you intend to go on holiday, or travel to your home country. You may also be restricted when it comes to naming beneficiaries (the people who will receive your pay-out) – some local providers specify these people must also live in the Philippines.

International life insurance

A specialist expat life insurance provider, meanwhile, will be able to offer you coverage that extends through multiple countries (including your home country). You will also be able to name beneficiaries anywhere in the world. With international life insurance, you won’t have to worry about international borders getting in the way of your policy.

Questions to ask when choosing life insurance

Besides knowing the difference between local and international life insurance, there are many questions you should ask when taking out any life insurance policy. For instance:

Does my policy pay out a lump sum or does it scale according to my income?

Some life insurance policies in the Philippines pay out a fixed amount on your death. Others may pay a multiple of your salary. This is important if your family is used to a certain quality of lifestyle, as the lump sum benefit may not be enough to replace your income. It’s also important to consider whether you might die with outstanding financial obligations, such as a mortgage or personal loans.

Does my policy include the option of critical illness cover?

When choosing a new life insurance policy, you may be interested in critical illness cover. This is a form of insurance that can be added to your life insurance policy, which pays out early in the event you are diagnosed with a terminal illness. Critical illness cover could help you make the most of the time you have left if you are diagnosed with a critical illness.

Does my policy offer accident insurance?

If your death is the result of an accident, your sudden and unexpected loss could create an additional level of burden for your family. Some providers therefore offer an additional, optional level of cover, paying out in the event your death is the result of an accident. This may also include permanent disablement cover, providing a financial cushion if you are left disabled by an accident.

Does my policy include funeral and repatriation cover?

In the event of your death, one of the first things your family will need to do is arrange a funeral. This may involve repatriating your remains to your home country. This can be a very expensive process, which is why you may wish to check whether your policy can cover these costs. Some policies quickly release funds to help your family in this difficult time.

What happens if you die abroad as an expat?

Our guide walks you through what happens when someone passes away overseas

Does my policy provider speak English?

This is an important consideration if you are considering a local life insurance policy. While English literacy is as high as 92% in the Philippines, your insurance provider may still prefer to deal in a local language. Whether you’re reading your provider’s website, your policy wording, or speaking to a customer service representative, you’ll want to be sure you can communicate in English (if this is your first language).

Does my provider have a good reputation?

When it comes to taking out life insurance in the Philippines, many people rush straight for the cheapest option. But these providers are often cheap for a reason. Perhaps they’re known for rejecting claims, poor customer service or even a lack of compassion. Be sure to vet your life insurance provider carefully – look out for independent customer reviews and enquire as to whether they have won any industry awards.

Can I be sure my provider will pay out?

The final thing to consider is whether you can be sure your life insurance provider will be able to pay your beneficiaries if you pass away. Smaller life insurance providers may experience cashflow problems, meaning they are unable to honour your policy, while others may have a reputation for denying claims. You may therefore prefer to look for a life insurance provider that is backed by a substantial insurance fund and has a number of partners to support them.

The William Russell difference

At William Russell, we’ve been providing specialist insurance to expats like you for over 30 years. We’re backed by the Allianz Group, the largest insurance company in the world.

Our international life insurance policies cover you in almost every country around the world, paying up to a maximum of 20x your annual salary (to a maximum US$2 million).

We also offer critical illness cover for both adults (up to US$100,000) and children (US$5,000), accidental death cover up to US$1 million (or US$500,000 for permanent disablement) and funeral and repatriation cover of US$5,000.

Plus, you’ll have access to our award-winning customer service team, providing round-the-clock support for you and your family.

Life insurance for expats in the Philippines from William Russell

If you’re looking for life insurance as an expat in the Philippines, look no further. Our international life insurance policy offers everything you need and it’s easy to get started today.

How to take out life insurance today

With William Russell, you can take out international life insurance in the Philippines in just five simple steps.

Open our online quote tool and choose Life Insurance.
Tell us a few details, such as where you’re from, your age, your annual income and whether you smoke.
Let us know your desired level of cover and whether you’d like optional extras such as critical illness cover and accidental death cover.
You’ll see our best quote, and we’ll get in touch to discuss your needs.
If you’re happy, we’ll send you our application form (we may also require you to go for a medical exam).

That’s all there is to it – just a few simple forms, and you’ll be insured.

Can you get life insurance if you smoke?

Here’s everything you need to know

What you get with William Russell international life insurance

By taking out life insurance with William Russell, you’re creating a safety net for your family’s future. Here’s what you’ll get:

Financial protection for your family

When you sign up for an international life insurance policy with William Russell, you can insure your life for up to 20x your current annual salary (up to a maximum of US$2 million).

So, if your salary in the Philippines is US$50,000, you could insure your life for up to US$1 million. Your loved ones would get this payout in a lump sum if you pass away during the term of your policy. You can also:

Choose your beneficiaries, no matter where they are in the world
Select your preferred currency for your premium and lump sum payments, out of pounds sterling, US dollars or euros
Select a payment frequency that suits you, either monthly, quarterly, twice a year, or yearly

Flexible policy options

William Russell’s international life insurance plan is tailor-made for expats like you. It includes several optional extras that you can include with your plan to ensure you’re getting the most comprehensive expat insurance around.

With the optional accident benefit, your nominated beneficiary will receive an additional lump sum of up to US$1mn if your death is caused by an accident. If you suffer a serious injury resulting in disability, we’ll pay you a lump sum up to US$500,000.

If you receive a diagnosis of a defined medical condition, optional critical illness cover means you’ll receive a lump sum of up to US$100,000 to help support yourself and your family in your time of need.

If you’ve selected adult critical illness cover, you can also add child critical illness to your plan. We’ll pay out a lump sum of US$5,000 if your child receives a diagnosis of a defined medical condition, allowing you to focus your time on supporting your child and reducing the worry of covering medical and travel expenses.

There are a wealth of benefits that come from taking out life insurance

Read the top reasons to take out life insurance when moving abroad

Global coverage

All William Russell international life insurance policies cover you worldwide (with a few exceptions). That means, no matter where you travel – and no matter where you pass away – you will be covered.

We will also pay your life benefit to any beneficiary, anywhere in the world, meaning you’re free to name a beneficiary in another country. We’ll handle the international money transfer and pay your benefit in pounds sterling, US dollars or euros.

Early payment for terminal illness

If you receive a terminal diagnosis and are told you have less than 12 months to live, you can request your life insurance benefit early in one lump-sum.

This gives you time to help your family organise your finances. For example, if you’re physically able, you may decide to use part of your payout to move back home to spend time with extended family, parents and close friends.

Personalised support

We’re proud to offer exceptional customer service. We’ve received numerous awards for the quality of our customer care, and we hold a coveted 4.5 star rating on Feefo.

When you become a William Russell, we’ll pair you with a dedicated policy manager based in the UK. You can contact them whenever you need to regarding your policy, whether it’s to make changes, ask questions or if your family needs to make a claim. We’ll never pass you over to an automated call centre, and your family have 12 months after you pass away to file a claim.

No further medical testing

At the start of your plan, you might need to complete a medical exam, depending on your medical history and pre-existing conditions. Don’t worry – we promise to reimburse you these expenses up to US$750.

If you become sick and your health worsens, we won’t ask for further medical tests or change our underwriting decisions. So long as your plan remains continuous, you’ll never have to go through medical testing again and you’ll always be covered.

Did you know?

We also offer income protection insurance for expats in the Philippines

What’s covered by William Russell’s life insurance plans?

Our life insurance policies cover the most common causes of death. However, there are a few exceptions you should be aware of before you start your policy:

	Cause of death
Covered	Common causes of death (cancer, heart attack, accident, illness)
	Death while you’re living and working abroad
	Death while you’re in your country of nationality
Covered after one year	Suicide
Not covered	Death from a pre-existing medical condition
	Death from negligence, illegal activity, or drug or alcohol abuse
	Death not reported to us within 12 months
	Death due to war or terrorism in a country the British FCDO advises its citizens not to travel to
	Death while you’re in Iran, Libya, North Korea, South Sudan, Syria, Yemen, or any country or region where the UK Foreign, Commonwealth & Development Office has advised its citizens to leave

For any queries about what we’ll cover, don’t hesitate to contact our friendly, award-winning team.

Don’t forget health insurance

It’s not just life insurance we provide. We also offer international health insurance to expats living in the Philippines.

Like life insurance, our international health insurance policies are tailor-made for expats like you. They offer you access to the highest-quality medical facilities, not only in the Philippines, but all over the world.

Better yet, all our international health insurance policies include medical evacuation cover as standard. So, if you need to receive specialist care in Singapore, Hong Kong or elsewhere, we’ll help you to get there.

Find out more about our international health insurance plans and how they benefit expats living in the Philippines.

Are you thinking of moving to the Philippines?

We’ve created the ultimate guide to help you start your new life abroad in this tropical paradise

Frequently asked questions on life insurance in the Philippines

How much is life insurance in the Philippines?

Life insurance costs in the Philippines depend on your age, overall health and well-being, and how much you want to insure your life for.

For a 30-year-old non-smoker with a life benefit of US $500,000 policies start from as little as $33 per month. To get a quote, contact a life insurance provider like William Russell.

Here’s an example of the prices:

Age	Monthly Premium*
25	US$6
35	US$8
45	US$21
55	US$71
65	US$265

*premium for a healthy, non-smoker with a life benefit of US$100,000

Find out more about life insurance cover levels

How can I apply for life insurance in the Philippines?

First, think about what insurance and level of coverage you need. Once you know, you can get prices online via our online. If you want to get started with William Russell, head to our online quote tool.

We can give you a price within a few minutes, so you can decide whether you want to proceed with the application (where we’ll need more medical information).

Get a Quote

What is health insurance in the Philippines like?

There are a lot of health insurance providers in the Philippines, as it’s the most accessible way people can use the country’s high-quality private medical facilities without the high fees that come with pay-as-you-go healthcare.

William Russell offers comprehensive international health insurance plans, providing coverage in the Philippines for greater peace of mind. Consider getting a quote to learn more about our health insurance products.

Find out more about health insurance in the Philippines

Life insurance tailor-made for expats in the Philippines

We know starting a new life abroad is exciting, but it can also be stressful. That’s why we’ve created specialist insurance policies for expats.

Start planning your family’s financial future with international life insurance. Use our online tool to get a quote today in under two minutes, and get ready to start a new life in the Philippines.

Terms & conditions apply to our insurance products and services. You can find full details of what our plans cover (and what they don’t cover) in our plan agreements.

Start planning for your family’s financial future today