OFW Compulsory Insurance FAQ

Customer Charter
6th of September, 2018 for Electronic Commerce of Insurance Products
Our History
Paramount Life & General Insurance Corporation traces its roots back to May 1950 when it formally started its non-life insurance business as the Paramount Insurance and Surety Corporation. In a few short years, Paramount successfully established a strong market presence in the small to medium retail business segment. Guided by an experienced management team and highly professional staff, Paramount became quickly known as the Bayad Agad® company for its business practice of quick claims settlement.
In February 1993, Semper Insurance Corporation was established to extend Paramount’s range of services to include the corporate and medium to large business market segments. Its strong emphasis on service excellence and reliability mirrors its corporate philosophy of Service is Our Policy ®.
1997 was a milestone for Paramount as a new Paramount General Insurance Corporation was formed with the entry of two new strategic investors: the Lucky Tableware Group of Cebu, the Philippines’ leading manufacturer of glass containers, enamelware and porcelain ware; and the ANJ Group of the Tahija Family of Indonesia whose interests include financial services, infrastructure development, and mining.
In 2001, Paramount acquired the Philippine operations of the Union Insurance Society of Canton, Ltd. from AXA of France, further strengthening its position in the Philippine general insurance industry. To reflect this new acquisition, Paramount General became known as Paramount Union Insurance Corporation.
Then in 2002, Paramount expanded into the life insurance business by acquiring AEGON Life Insurance Philippines, the Philippine branch of Netherlands-based AEGON Life N.V., and was granted a composite license by the Insurance Commission of the Philippines to operate the business of life and general insurance. In the same year, Paramount was renamed to its present corporate name, Paramount Life & General Insurance Corporation and increased its paid-up capital to Php150 Million Pesos.
Continuing its strategy of organic growth and consolidation, Paramount acquired the Manila Bankers Life Insurance Corporation’s Individual Life Insurance Portfolio in 2005.
In 2010, Paramount further established its presence in the insurance industry with the launch of its Madaling Kausap™ campaign.
In 2012, Paramount acquired Sony Life Insurance Philippines for its unique, needs-based Life Planning sales channel thereby completing the company’s capability to service the entire market spectrum of the insuring public. The acquisition of Sony Life Insurance Philippines’ life insurance portfolio further enhanced Paramount’s presence in the industry.
In 2014, Paramount has a total Net Worth of over Php1.4 Billion Pesos and assets exceeding Php 4 Billion.
By 2017, Paramount posted a solid growth of 13% on its total Premium Income generating over Php1.77 billion and maintained its strong capital base of Php500M for the past 5 years and increased its Net Worth to Php1.65B.
Now, with over 50 branches nationwide, Paramount has one of the most extensive sales and marketing networks in the industry. Paramount is the leading OFW Insurance Provider of the country.
In 2018, Paramount further aims to grow its OFW business through responsible and safe electronic commerce of its insurance products.
Introduction
Our Customer Charter for E-Commerce shall assist and guide you, our customers, on the process of availing affordable and accessible insurance coverage. Through electronic commerce, we aim to provide insurance protection in a more convenient manner without sacrificing the quality of our service and the safety of your information.
This charter shall answer questions you might have while in the process of availing of our company’s online services — from the definition of electronic commerce, to our company’s responsibility to you, exhibited through our 5-point commitment. Through this charter, we shall help you understand how we can protect what is important to you, our customers.
What is e-commerce of insurance products?
Electronic commerce is a commercial activity which involves buying, selling, or providing insurance products and services online or via the internet.
With e-commerce, consumers and insurance companies may now transact business online, without the need of personal interaction.
What is ofwinsurance.ph?
The website www.ofwinsurance.ph provides a quick and reliable way to obtain OFW Insurance for Balik Manggagawa.
Balik Manggagawa is a returning worker whose employment contract is still enforce and has to go back to the country of employment, or a worker who is able to renew his/her employment contract and went to the Philippines for a vacation.
Paramount believes that you, our Balik Manggagawa, deserves to have protection at a price that you can afford. Hence, we have made it easy and convenient for you to obtain the OFW insurance through the online application process in our website www.ofwinsurance.ph.
What are our commitments to you?
  1. Strong and Reliable
  2. Committed to you
  3. Secure
  4. Convenient
  5. Trusted
  • Strong and Reliable

    With over 65 years of solid experience, we have a strong financial base and more than 50 branches nationwide
  • Committed to you

    Our sole dedication throughout the years to deliver financial security to our clients is what constantly drives our company.
  • Secure

    Our site is fully encrypted to protect your information
  • Convenient

    Apply anytime, anywhere and you don’t have to worry about the delivery of your policy.
  • Trusted

    We are trusted by thousands of long-time Filipino clients, nationwide.
What are the Products and Services offered on www.ofwinsurance.ph?
  • OFW Insurance for Balik Manggagawa
    OFW Insurance provides superior protection from the basics --- life insurance cover for natural death, accidental and total and permanent disability to the addition of contingency benefits in case the job applied for did not go as planned or of sudden health condition deterioration and even repatriation in case of an untimely death specifically offered to Balik Manggagawa or Re-Hired Overseas Filipino Workers.
How do we process your application?
Log on to www.ofwinsurance.ph, click on the APPLY button and fill out the required fields to start your application. You will be asked to directly input your personal information, where a quotation for the coverage selected will be shown. You will also be asked to scan and upload your passport (with photo and signature) and working visa or work permit as standard requirements for your application. Should you find the quotation acceptable, payment instructions will be generated and sent to your nominated email address with the corresponding premium. Once payment has been made and posted in our system, a digital copy of your certificate of insurance and official receipt shall be sent to your nominated email address. Please print the digital copy for your file.
Who to talk to and ask questions?
For inquiries on in-force policies, or questions and clarifications regarding applications, you may contact OFW department at +632 705-1925.
How fast is the application process?
You shall receive the digital copy of your policy within 2-5 working days upon submission of your application and required documents and successful payment of premium.
How to claim?
As part of our commitment to be a reliable insurance provider, we assure you of fast, fair and equitable settlement of claims. To help us meet this commitment, please submit the documentary requirements for each covered peril. The requirements and the processes are enumerated below.
Step 1 – Check if you have the required documents
  1. For Accidental/Natural Death

    1. Authenticated Death Certificate issued by Philippines foreign post
    2. Death Certificate from the local Civil Registrar
    3. Incident Report from employer
    4. Police Report in case of accident
    5. Employment Contract and OEC
    6. Original POC and Receipt
  2. For Permanent Total Disablement

    1. Medical Certificate
    2. Accident Report from employer or police
    3. Picture of the disabled person or affected parts of the body
    4. Employment Contract and OEC
    5. Original POC and Receipt

    For legal beneficiaries, the following documents shall also be submitted:

    1. Birth Certificate of insured, if beneficiary is a parent or a child
    2. Marriage Contract of insured and spouse, if beneficiary is the spouse
    3. Affidavit of Legal Guardianship, if beneficiary is a minor
    4. Other documents as may be necessary to establish identity of claimants
  3. For Repatriation

    1. POLO Certificate
    2. Travel Itinerary with Invoice
    3. Official Receipt/ Proof of payment
    4. Employment Contract & OEC
    5. Passport/Visa with arrival & departure stamp
    6. OFW Affidavit
    7. Original POC & Receipt
    8. Seaman's Book for Seafarer
    9. Master’s Report
  4. For Medical Repatriation

    1. Medical Certificate
    2. Accident Report
    3. Travel Itinerary with Official Receipt
    4. Employment Contract and OEC
    5. Passport/Visa with arrival & departure stamp
    6. PTD Form
  5. For Subsistence Allowance

    1. POLO Certificate of case filed
    2. Information for case filed
    3. Employment Contract and OEC
    4. Original POC and Receipt
Step 2 – Send us an email with the required documents attached addressed to ofwinsurance@paramount.com.ph. Please note that we may not be able to process your claim if the documents you submitted are incomplete.
Step 3 – Please wait for our OFW claims department to contact you within seven (7) business days upon submission of complete documents.
How can you contact us?
For questions and concerns, you may:
  • Visit us at Unit 2, Maranaw Plaza, 187 Epifanio Delos Santos Avenue, Barangay Wack-Wack, Greenhills East, Mandaluyong City, Metro Manila, Philippines
  • Call us through the following numbers:
    Tel. No: +632 772 9264
    Mobile Nos: +63917 5583969; +63998 8421957
  • Email us at ofwinsurance@paramount.com.ph (Note: Kindly indicate your concern in the subject of your email, e.g. Inquiry, Claim, Complaint, or Customer Support).