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2025 Free Life Insurance on Deposit Accounts in the Philippines

  • Jomar Hilario Jomar Hilario

2025 Free Life Insurance on Deposit Accounts in the Philippines

Several Philippine banks offer free life insurance as a perk on certain savings or deposit accounts. The coverage is usually linked to your Average Daily Balance (ADB). Below are the major products and their insurance formulas, along with example coverages for ₱100,000 and ₱250,000 balances.

BPI – Pamana Savings

BPI’s Pamana Savings account provides life insurance equal to 3× your ADB, capped at ₱2,000,000. In practice, if you maintain an average balance of ₱100,000, your coverage is 3×100k = ₱300,000. For a ₱250,000 balance, coverage is 3×250k = ₱750,000 (well below the ₱2M cap). (E.g. at ~₱666,667 ADB, 3×ADB would hit the ₱2M cap.)

RCBC – Telemoney Savings

RCBC’s Telemoney account offers life insurance = 2× your ADB (200%) up to ₱1,000,000. Thus, with a ₱100,000 balance (maintained for 6 months), coverage would be 2×100k = ₱200,000. For ₱250,000 balance, coverage = 2×250k = ₱500,000 (still under the ₱1M limit). RCBC requires a minimum balance of ₱10,000 to qualify.

CIMB – UpSave/GSave Accounts

CIMB Bank’s UpSave and GSave accounts come with free life insurance equal to 1× your ADB, capped at ₱250,000. In other words, you get insurance equal to your average balance. Therefore, if your ADB is ₱100,000, coverage = ₱100,000; if ₱250,000, coverage = ₱250,000 (this hits the ₱250K cap). The insurance is renewable monthly as long as you keep the required minimum ADB (₱5,000).

Maybank – Save ‘n Protect Savings

Maybank’s Save ‘n Protect account provides life insurance = 2× your prior-month ADB, capped at ₱5,000,000. You must maintain at least ₱50,000 in ADB to qualify. So with ₱100,000 ADB, coverage = 2×100k = ₱200,000; with ₱250,000 ADB, coverage = 2×250k = ₱500,000. Even very high balances enjoy the same 2× multiplier, but the total cannot exceed ₱5M.

Security Bank – All Access Account

Security Bank’s All Access account comes with free life insurance up to ₱3,000,000 (no medical exam needed). Coverage is based on your ADB over the past 3 months. For account holders aged 18–50, the life benefit is 3× your ADB (max ₱3M). (Ages 51–60 get 1×ADB up to ₱3M.) Thus, a 100K balance yields up to 300K coverage and 250K yields up to 750K (both below the ₱3M cap). (Note: these figures assume age ≤50 and healthy status; see Security Bank’s terms for details.)

Robinsons Bank – IPONsurance Savings

Robinsons Bank’s IPONsurance account offers life insurance up to 4× your ADB (max ₱4,000,000). For account holders 18–50 years old, the formula is tiered: 2×ADB if ADB is ₱20K–49,999; 3×ADB if ₱50K–499,999; and 4×ADB for ₱500,000+. (Ages 51–65 get 1×ADB.) Therefore, with ₱100,000 ADB (in the ₱50K–499K bracket), coverage = 3×100k = ₱300,000. With ₱250,000 ADB, coverage = 3×250k = ₱750,000. (If one had ≥₱500K, it would be 4×ADB up to ₱4M.) Note the ₱20,000 minimum to open this account.

(Note this bank is being absorbed into the BPI, so note this may not be valid anymore)

Other Banks (UNO, EastWest, etc.)

Some smaller banks also offer basic free insurance on deposits. For example, digital UNO Bank’s savings account gives a fixed ₱50,000 life coverage (regardless of your balance). EastWest Bank’s Save and Pawtect savings provides insurance up to ₱50,000 for the account holder (and even pet insurance), independent of deposit amount. These are much lower than the multi-hundred-thousand coverage above.

For completeness, note that state-run LandBank’s new OptiSaver Plus also includes free life insurance for depositors (qualified at ₱50K+ balance), though LandBank has not publicly disclosed the exact multiples per tier.

Summary of Coverages (₱100K vs ₱250K ADB):

  • BPI Pamana: 100K→₱300K; 250K→₱750K.
  • RCBC Telemoney: 100K→₱200K; 250K→₱500K.
  • CIMB GSave/UpSave: 100K→₱100K; 250K→₱250K.
  • Maybank Save ‘n Protect: 100K→₱200K; 250K→₱500K.
  • Security Bank All Access (age ≤50): 100K→₱300K; 250K→₱750K.
  • Robinsons IPONsurance (age ≤50): 100K→₱300K; 250K→₱750K.
  • UNO Bank: 50K fixed for either scenario.
  • EastWest Save Pawtect: up to 50K (regardless of ADB).

Each value above is drawn from the bank’s published terms or announcements. Actual payout would be the insured sum if a covered event occurs.

Sources: Official bank product pages and advisories . Always check first before doing any action. This is not financial advise.

My Study Bible Ignored John 20, so I became Catholic…!?

  • Jomar Hilario Jomar Hilario

Answer after you watch it:

What if a letter from a friend of Jesus’s best friends totally changes everything you thought you knew about Christianity?

Did early Christians really believe a special meal was Jesus’s actual body, not just a symbol?

If Christians kept disagreeing, why did ancient leaders say you needed one leader to stay united?

If everyone reads the Bible differently, and even bad guys quote it, how can you know what Jesus really meant?

Was the Pope’s power just a new idea, or did ancient Christians really believe in it way back in the 400s?

MORE:

Shocking! What if one man’s honest, nervous prayer to Mary led him to find a huge answer about the Church the very next day?

What if a letter from a guy who knew Jesus’s closest friends said the special church meal was Jesus’s actual body, not just a symbol?

Did you know that some Bible verses seem to say that on Judgment Day, you’ll be judged by what you do, not just what you believe?

Crazy, right? What if someone said that even Satan can quote the Bible, so you need the Church’s help to understand what Jesus really meant?

Think the Pope is a new thing? What if a powerful quote about the Pope that people thought was from the 1800s was actually from the 400s?

If Christians keep splitting into different churches, why did ancient leaders say Jesus really wanted everyone to stay united under one family?

What if the early Church leaders talked about special sacrifices and priesthood that sounds really Catholic, not like other churches?Did you know that some books that early Christians used as Holy Scripture are missing from many Bibles today?

Is it possible that the Christians who lived right after Jesus were actually “Catholic, Catholic, Catholic” in their core beliefs, even without that exact name?

RESOURCE:

Futher FUN Reading for your children: https://www.newadvent.org/fathers/3506.htm (From 5th century)

(Vincent of Lérins (LatinVincentius Lerinensis; died c. 445) was a Gallic monk and author of early Christian writings. One example was the Commonitorium, c. 434, which offers guidance in the orthodox teaching of Christianity.)

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