GENERALI PHILIPPINES

Profile last updated February 2026.

Company Information

About Us

Generali is one of the largest integrated insurance and asset management groups worldwide.

BHIVE Handle

@www.generali.com

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• Services

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Products and Services

LIFE INSURANCE - Pure-Risk Cover

Pure-risk life insurance provides financial protection through survival, death, or mixed benefits, ensuring coverage based on specific life events. Pure-risk life insurance policies can be classified into three main categories, based on the type of event they cover: Survival Benefits, providing a payout - either a lump sum or an annuity - if the insured person is still alive on a specified date. Death Benefits, offering financial protection in the event of the insured person’s death. The insurer agrees to pay a lump sum or an annuity to the beneficiary if the death occurs within a specified term, or, in some cases, regardless of when the death occurs (whole life coverage). Mixed Life Insurance, combining both survival and death benefits. For example, the insurer may guarantee a payout on a set date if the insured is still alive, or earlier, if the insured passes away before that date.

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LIFE INSURANCE - Pension Funds

While state pensions typically operate on a redistribution model - where current workers fund the pensions of retirees - pension funds follow the capitalisation principle. This means that individuals contribute a portion of their income during their working life, which is then invested based on their risk profile. At the end of the contract - usually long-term and ideally covering the full working life - the policyholder receives a monthly annuity. The amount depends on the total contributions, the duration of the policy, and the investment returns. There are two main types of pension funds: Open funds: available to all workers, regardless of profession. Closed (or negotiated) funds: reserved for specific professional categories, established through agreements between trade unions and employer organizations. In addition, individual supplementary pension plans are available for anyone wishing to build a personal retirement fund - including students or those not currently employed. These plans offer greater flexibility, allowing contributors to pause and resume payments without penalties. However, benefit payouts are subject to the same regulatory constraints as collective funds (e.g., full lump-sum withdrawals are generally not permitted).

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