12/12/2025
โผ๏ธ ๐๐ข๐ก๐ ๐ฃ๐ข๐ฆ๐ง ๐๐๐๐๐ โผ๏ธ
For those who are asking if processing a life insurance claim could be tedious and stressful, this post is for you. ๐ฌ This could also be a concern of every policyholder (regardless of what insurance company) or a family member of a policyholder or for those who are still planning to get their own personal life insurance policy. ๐
The ๐๐ป๐๐๐ฟ๐ฎ๐ป๐ฐ๐ฒ ๐๐ผ๐บ๐บ๐ถ๐๐๐ถ๐ผ๐ป is the regulatory body established by our government to protect the rights of both policy holders and insurance companies. ๐๐๐ ๐๐ก๐ฆ๐จ๐ฅ๐๐ก๐๐ ๐๐ข๐ ๐ฃ๐๐ก๐๐๐ฆ that is being regulated by the Insurance Commission follows the ๐๐ผ๐ป๐๐ฒ๐๐๐ฎ๐ฏ๐ถ๐น๐ถ๐๐ ๐ฃ๐ฒ๐ฟ๐ถ๐ผ๐ฑ ๐ฅ๐๐น๐ฒ. This rule, which is bounded by the PH law, is a condition in a life insurance policy wherein the insurance company is allowed to contest and investigate the claim made by the policyholder or by his/her beneficiaries only if the claim is made ๐ช๐๐ง๐๐๐ก ๐ฎ ๐ฌ๐๐๐ฅ๐ฆ from the day of approval of the policy.
Yes, during these first 2 years, the Insurer have the right to investigate and check the ๐ฑ๐ฐ๐ญ๐ช๐ค๐บ๐ฉ๐ฐ๐ญ๐ฅ๐ฆ๐ณ'๐ด ๐ฑ๐ข๐ด๐ต ๐ฎ๐ฆ๐ฅ๐ช๐ค๐ข๐ญ ๐ฉ๐ช๐ด๐ต๐ฐ๐ณ๐บ, including but not limited to past ๐ผ๐ฃ๐ฃ๐ช๐๐ก ๐๐๐ฎ๐จ๐๐๐๐ก ๐๐ญ๐๐ข๐จ, ๐๐๐๐ก๐๐๐๐ก๐ฉ๐ ๐๐ฃ๐ ๐๐๐๐ก๐ฉ๐ ๐พ๐๐ง๐/๐๐๐ ๐ช๐จ๐๐๐, ๐ฅ๐๐จ๐ฉ ๐ข๐๐๐๐๐๐ก ๐๐๐๐๐ -๐ช๐ฅ๐จ ๐๐ฃ๐ ๐๐ค๐จ๐ฅ๐๐ฉ๐๐ก ๐๐๐ข๐๐จ๐จ๐๐ค๐ฃ๐จ ๐ง๐๐๐๐ง๐๐ก๐๐จ๐จ ๐๐ ๐ง๐๐ก๐๐ฉ๐๐ ๐ค๐ง ๐ฃ๐ค๐ฉ ๐ฉ๐ค ๐ฉ๐๐ ๐๐ก๐๐๐ข ๐๐๐๐ฃ๐ ๐ข๐๐๐, and so on, in order to confirm the legitimacy and validity of the claim. Meaning, YES, SOP talaga ng bawat insurance companies to ask for several requirements ๐๐จ๐ฅ๐๐ก๐ ๐ง๐๐ ๐๐ข๐ก๐ง๐๐ฆ๐ง๐๐๐๐๐๐ง๐ฌ ๐ฃ๐๐ฅ๐๐ข๐. They may even deny the claim and return all of the premiums paid if there are any findings of possible undeclared medical conditions or health declaration concealment during the application of the policy. ๐ฑ This applies to all life insurance policies, regardless of the premium paid or from what company. Again, insurers are permitted to do this for the first two years in order to protect the company from fraud and concealments. However, if this happens, the policyholders or their beneficiaries have the chance to contest this as well.
๐ฃ๐ฎ๐ฎ๐ป๐ผ ๐ธ๐ฎ๐ฝ๐ฎ๐ด ๐ป๐ฎ๐ด๐ฐ๐น๐ฎ๐ถ๐บ ๐ฑ๐๐ฟ๐ถ๐ป๐ด ๐๐ต๐ฒ ๐ฐ๐ผ๐ป๐๐ฒ๐๐๐ฎ๐ฏ๐ถ๐น๐ถ๐๐ ๐ฝ๐ฒ๐ฟ๐ถ๐ผ๐ฑ ๐ฎ๐ป๐ฑ ๐ถ๐ป ๐ด๐ผ๐ผ๐ฑ ๐ณ๐ฎ๐ถ๐๐ต ๐ป๐ฎ๐บ๐ฎ๐ป ๐ฎ๐ป๐ด ๐ฎ๐ฝ๐ฝ๐น๐ถ๐ฐ๐ฎ๐๐ถ๐ผ๐ป ๐ธ๐ผ, ๐บ๐ฒ๐ฎ๐ป๐ถ๐ป๐ด ๐ฎ๐น๐น ๐ฑ๐ฒ๐๐ฎ๐ถ๐น๐ ๐ฎ๐ฏ๐ผ๐๐ ๐บ๐ ๐บ๐ฒ๐ฑ๐ถ๐ฐ๐ฎ๐น ๐ต๐ถ๐๐๐ผ๐ฟ๐ ๐ฎ๐ฟ๐ฒ ๐ฑ๐ถ๐๐ฐ๐น๐ผ๐๐ฒ๐ฑ ๐ผ๐ฟ ๐ต๐ฒ๐ฎ๐น๐๐ต๐ ๐๐ฎ๐น๐ฎ๐ด๐ฎ ๐ฎ๐ธ๐ผ? Yes, we still need to request for these requirements kasi within contestability period pa nga. But don't worry as all of these requirements are really attainable and can be completed by the policyholder or their beneficiaries together with the help of their servicing advisor by requesting and coordinating with the respective institutions and employer/s of the policyholder. It is also part of the servicing advisor's duty to explain every step to the claimants and assist them all throughout the process. This is also one of the reasons why it is important to choose an Insurance Advisor that you completely trust and comfortable working with. Someone who is really knowledgeable and committed in assisting you because once the contract has been approved, they are already your lifetime partner and they will be the one to address your concerns and assist you during times that you need to claim. ๐ค And once macomplete ang requirements, and if healthy talaga si client and walang concealment, magragrant din naman yung claim. ๐๐ปโบ
๐ฃ๐ฎ๐ฎ๐ป๐ผ ๐ถ๐ณ ๐บ๐ผ๐ฟ๐ฒ ๐๐ต๐ฎ๐ป ๐ฎ ๐๐ฒ๐ฎ๐ฟ๐ ๐ป๐ฎ? There is also a clause about ๐๐ก๐๐ข๐ก๐ง๐๐ฆ๐ง๐๐๐๐๐๐ง๐ฌ. This means that after 2 years from date of approval of the policy, the insurance company would already require less requirements, less time to process, and the claim is already incontestable regardless of any mistake, fraud, concealment or misrepresentation during the application. This is also the reason why we discourage our clients to lapse their policies especially those who are already beyond 2 years of their policy.
Hope this will clarify all questions and issues about contestability, incontestability and processing of claims. ๐๐๐ป
