Philam Life denies manipulation of insurance policies

The Philippine American Life and General Insurance Co. (Philam Life) has denied a plan holder’s allegation that the insurance firm and some agents have “manipulated” P101-million worth of policies during the last 28 years.

“Philam Life is aware of recent statements made by a customer named Ms. Mona Tan, including allegations concerning possible wrongdoing on the part of Philam Life and certain of its agents,” the company said in a statement.

“Philam Life denies the allegations and is cooperating fully with the Insurance Commission in its review of the case. We trust the Commission will establish what is fair for all concerned, and will make an impartial decision,” it said.

“Philam Life is committed to empowering Filipinos in their journey towards financial security and prosperity. Our customers are at the heart of our business and we remain steadfast in our commitment to them, and to honor our obligations. We value the trust they place in us and are devoted to supporting their needs,” it added.

During a recent press conference, Tan claimed that she had bought 359 insurance policies from Philam Life since 1990 but was later allegedly duped by three agents

As such, Tan had filed a 16-page complaint against Philam Life before the Insurance Commission.

Insurance Commissioner Dennis Funa confirmed to reporters Tuesday night that the regulator had received Tan’s complaint.  /muf