How to Tell If an Insurance Agent or Company Is Legitimate

The product is regulated, but not everyone selling it is honest. Before you sign anything or hand over money, run through this checklist.

Verify the company

• Confirm it is licensed by the Insurance Commission. You can compare the accredited life insurance companies operating in the Philippines.
• Check that the company name on your documents exactly matches the licensed entity — watch for look-alike names.
• Legitimate insurers have a registered office, official hotline, and a verifiable claims process.

Verify the agent

• Ask for their Insurance Commission license number and the company they represent.
• A real agent explains the policy's exclusions and costs, not just its benefits.
• You can look up advisors and confirm who you are dealing with.

Red flags to walk away from

• Requests to pay into a personal bank account or e-wallet instead of the company.
• No official receipt or policy document.
• Promises of "guaranteed" high or fast returns — insurance is protection, not a money-doubling scheme.
• Pressure to decide "today only" before you can read the policy.

Your safety nets

Two protections are built in. First, always pay the insurer directly and keep your official receipt. Second, use the free-look period — typically around 15 days after you receive the policy — to review everything and get a refund if it is not what was promised. If a dispute arises, the Insurance Commission mediates between policyholders and insurers.

Find someone you can trust

The clearest way to put your doubts to rest is to talk to a licensed advisor and compare accredited insurers side by side. Browse verified advisors, or see the full list of accredited life insurance companies operating in the Philippines.