InLife pays out P1.2 B in death and disability benefits – Manila Bulletin

Death and disability benefit payments from Insular Life (InLife) reached more than 1 billion pesos last year.

In a statement, InLife said on Tuesday February 22 that the insurer had paid 4,238 individual claims from January to December 2021, equivalent to 1.276 billion pesos.

According to InLife, claims from individual policies paid in 2021 exclude claims made by its group clients.

Diane Tagra, InLife’s senior vice president and head of insurance operations, said benefit payments were driven by their claims portal which made it easier for policyholders to file claims and receive policy benefits.

“Applying for benefits means preparing a lot of paperwork that you have to submit over-the-counter,” Tagra said.

With InLife’s claims portal, policyholders can file a claim through its website in three easy steps: notify InLife of the claim; submit all requirements; and get a reference number. Tagra said all of this can be accomplished without the need to physically travel to his office.

InLife policyholders, beneficiaries or authorized persons may file claims of the following type: death, disability, hospitalization and critical illness or critical illness, InLife said.

Once filed, an InLife Claims Representative will email and validate the submitted documents. Subsequent updates will be sent by email or SMS. The status of the complaint can also be tracked via the complaints portal.

Proceeds from claims will be released either by wire transfer or check three to seven days after all requirements have been submitted in full.

“The claims portal significantly speeds up the claims process because once requirements are submitted, they are received directly by our claims processors. Security is also enhanced as the proceeds can be credited to the policyholder’s bank account,” Tagra said.

The claims portal is also accessible through InLife’s mobile app, TRIBOS.


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