MANILA, PHILIPPINES – The future is uncertain, and one must be prepared for anything. To make protection more inclusive, the country’s premier life insurance company, AIA Philippines, allows customers to enlist their same-sex partners as beneficiaries, as aligned with the Insurance Commission’s position on the matter.
With this update, AIA Philippines customers can enlist their partners as beneficiaries of their existing and future policies, regardless of their marital status. If the customer and beneficiary are married, they would need to submit a marriage certificate or other proof of marriage to be enlisted as a policy beneficiary.
“Everyone should have the means to protect their loved ones from life’s many risks, and expressing love and responsibility to those we care about should not be limited by how we identify as people. Our promise of helping people live Healthier, Longer, Better Lives is for all,” Kelvin Ang, AIA Philippines CEO said. “With these adjustments in place, our LGBTQ+ customers can protect their loved ones through AIA Philippines’ innovative offerings.”
If the couple is not yet married, same-sex partners may still be approved as beneficiaries if declared together with family members. Those who wish their partners to be sole beneficiaries may still be allowed on a case-to-case basis, requiring documents that show proof of their relationship. Customers may inquire with their AIA Philippines financial advisor for more details.
This inclusion pertains to active policies and products to be procured by customers in the future. Hence, whether you’re a current AIA PH customer or if you’re looking to invest in the future, you can enlist your same-sex partner as a beneficiary upon submission of the requirements. With this update, protection from life’s many uncertainties is no longer limited to heterosexual partners.
This update is in line with the Insurance Commission’s affirmation that any individual, regardless of gender identity, may designate any individual as a beneficiary, subject only to certain exceptions under the Civil Code.
Life is unpredictable, and no one knows what tomorrow may bring. AIA Philippines is committed to ensuring that a healthier, longer and better life is available to all its customers no matter what.
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