Philam Life insures Bangko Kabayan borrowers

MANILA, Philippines - The Philippine American Life and General Insurance Co. (Philam Life) and Bangko Kabayan Inc. had agreed to insure its borrowers with credit life insurance. Designed to protect lenders against the possibility of unpaid loans due to a borrower’s untimely death, Philam Life’s credit life insurance ensures that loans are paid, assets and possessions safeguarded, and businesses are kept intact. Bangko Kabayan currently has 20 offices located in Batangas, Laguna and Quezon that service more than 50,000 clients1. Philam Life has about 600,000 individual policyholders and over 1.7-million insured group members.