OFW Compulsory Insurance FAQ

Customer Charter

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.

By 2014, Paramount’s total Net Worth was over Php1.4 Billion Pesos and had 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 Php500 Million for the past 5 years and increased its Net Worth to Php1.65 Billion.

Now, with over 50 branches nationwide, Paramount has one of the most extensive sales and marketing networks in the industry.

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 8-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 that 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 for personal interaction.

What is yourtravelinsurance.ph?

The website www.yourtravelinsurance.ph is a comprehensive, cashless travel insurance that protects travelers for Domestic or International travel.

What are our commitments to you?

  1. Customer privacy
  2. Quality services
  3. Transparent product information
  4. Prompt response to inquiries and complaints
  5. Safe and secure operations
  6. Fair business practices
  7. Trustworthiness and Dependability
  8. Steadfast with our Vision-Mission and values

  • Customer Privacy

    We ensure the privacy of any information we receive from you and other stakeholders. Our employees, officers and directors follow strict standards of confidentiality in dealing with personal and sensitive information from customers. No personal or sensitive information beyond what is necessary for the transaction shall be collected from you.

    For more on our Privacy and Security Policy, you may visit: https://www.yourtravelinsurance.ph/privacy-policy.

  • Quality services

    We assure you of fast transactions without compromising quality service. We ensure our customers that the policy shall be prepared, billed and completed as agreed. In case an unavoidable error shall occur in the transaction, it shall be corrected and you shall be notified of this adjustment.

  • Transparent product information

    We value our customers who participate in electronic commerce with the same level of transparent and effective consumer protection not less than that afforded in other forms of commerce. We shall provide you accurate and easily accessible information, sufficiently describing the insurance product and other services offered, including related costs, to enable you to make an informed decision whether to enter into the transaction.

  • Prompt response to inquiries and complaints

    Our people are more than willing to assist you with your queries and provide step by step resolutions to your inquiries and complaints. We adhere to our vision as a Madaling Kausap company – your inquiries and complaints shall be dealt with by our employees with utmost expediency.

    We shall acknowledge your complaint within seven (7) business days of receipt. This service is free of charge, and shall be recorded and monitored to avoid similar complaints. You may file your complaint online or offline, through our contact details found here: https://www.yourtravelinsurance.ph/contact.

  • Safe and secure operations

    As consumers are made aware of new mechanisms in purchasing insurance products with just a click of their fingertips, a greater responsibility of protecting the interests of the customers are consigned to us, as an insurance provider. We promise you safe and secure operations at all times by providing easy-to-use and secure payment mechanisms.

  • Fair business, marketing, and advertising practices

    Our people, especially those responsible for e-commerce transactions, are well-informed of the principles of fair business practices. We are aware that in order for our company to achieve its vision and gain your trust, we commit to adhering to fair business, marketing and advertising practices.

    We shall not transmit marketing e-mail without your consent unless you are already a client of the company.

  • Trustworthiness and Dependability

    The relationship that we cultivated with our customers through the years proves that we can be trusted with your insurance needs and you can depend on our people and services. Your rights as customers and our obligations as insurance providers are what drive our company to be trustworthy and dependable at all times. Our people are always free to assist you in your queries on your application and shall guide you through the whole process.

  • Steadfast to our Vision-Mission and Values

    Consistent with our company’s Vision-Mission and values, we are committed to protecting what is important for you. As our goal is to be the best managed insurance company in the Philippines, this vision-mission always reminds our employees to put you, our customer, first.

How do we process your application?

Log on to https://www.yourtravelinsurance.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. Should you find the quotation acceptable, you may proceed with payment and 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 travel insurance policy and official receipt shall be sent to your nominated email address. Please print the digital copy for your file.st

Who to talk to and ask questions?

For inquiries on in-force policies or questions and clarifications regarding applications, you may contact us at +632 8772-9264.

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 successful payment of premium.

How to claim?

As part of our commitment to being a reliable insurance provider, we assure you of a 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 processes are enumerated below.

Step 1 - Check all compulsory and other necessary documents:

  • COMPULSORY DOCUMENTS

    1. Completed Claims Form
    2. Letter of Request/ Incident Letter
    3. Copy of Insurance policy
    4. Original Official Receipts of all payments made
    5. Copy of Flight Itinerary and boarding passes
    6. Copy of passport (pages with details and dates stamped for entries and departures)

  • MEDICAL TREATMENT /HOSPITAL INCOME

    1. Original medical report / abstract with Medical History of present illness.
    2. Clinical Test / Laboratory Results
    3. Detailed Original Hospital Statement of Account
    4. Copy of Operative and/or Histopathology Reports
    5. Police report (if applicable. Example: accidents)

  • CARE OF MINOR CHILDREN

    1. Original medical report / abstract with Medical History of present illness.
    2. Medical certificate from a physician or hospital
    3. Clinical Test / Laboratory Results
    4. Copy of Operative and/or Histopathology Reports
    5. Police report (if applicable. Example: accidents)
    6. Original Invoice & Official Receipt of the transportation and hotel expense of the family member who took care of the minor child.
    7. Copy of flight itinerary and official receipts of Airfare.

  • COMPASSIONATE VISIT

    1. Original medical report / abstract with Medical History of present illness.
    2. Medical certificate from a physician or hospital
    3. Clinical Test / Laboratory Results
    4. Copy of Operative and/or Histopathology Reports
    5. Police report (if applicable. Example: accidents)
    6. Original Invoice & Official Receipt of the transportation and hotel expense of the family member who took care of the Insured Person.
    7. Copy of flight itinerary and official receipts of Airfare.

  • BAGGAGE DELAY

    1. Original Property Irregularity Report (P.I.R.) from airline
    2. Original acknowledgment receipt/form stating the exact date and time when the baggage was received by the Assured.

  • COMPENSATION FOR IN-FLIGHT LOSS OR DESTRUCTION OF CHECKED-IN BAGGAGE / LOSS OF LAPTOP (CHECKED-IN)

    1. The original formal complaint before the police at the place where the incident occurred, duly listing the contents of the luggage and their economic value.
    2. The written complaint before the common carrier company, within the time limits established by each company.
    3. Obtain a certificate of the said complaint. Property Irregularity Report (P.I.R) from the airline.
    4. List of contents of the luggage with estimated price and date of purchase of each item.
    5. Photograph of the damaged item and the original receipt and/or quotation for the repair.
    6. Original certification of the settlement of the compensation paid by the common carrier.
    7. Proof to establish the age of Insured Person’s baggage, clothing, prescribed medicines, bags, footwear and other personal effects (including the laptop) that is/are being claimed.

  • LOSS OF PERSONAL MONEY

    1. Police Report & any document that will show proof of possessions such as bank slip / withdrawal slip and ATM receipt

  • LOSS OF TRAVEL DOCUMENTS

    1. The original Police report from the place where incident occurred
    2. Original receipts of expenses for transportation and/or accommodation to go to the place where documents will be issued
    3. Original receipts for costs or fees to obtain a new travel document

  • TRAVEL CANCELLATION EXPENSES

    (Documents may be required as applicable on the coverage)
    1. Original medical report and/or Death Certificate of the Insured Person or Insured's Immediate Family Member. (Documents must reflect the date of occurrence, admission to hospital, death, accident, the diagnosis, the clinical background, and treatment prescribed)
    2. Proof of occurrence of a covered incident such as police report, firefighter’s report, insurance provider report, etc. (Document must include the date of the accident, type of damage in case of fire loss)
    3. Proof of relationship between the Insured Person and the Immediate Family Member
    4. Certification/Affidavit stating the reason for the trip cancellation
    5. Original copy of invoice and receipts as proof of advance payment made for transportation and accommodation expenses issued by the agency or directly by the wholesaler (Airline & Hotel) and a copy of the travel voucher issued by the agency.
    6. A copy of the cancellation expenses invoices by the travel wholesalers to the retail agency and a copy of the general condition of sale of the wholesaler & retailer (Travel) agency
    7. Original cancellation document proving the non-refundable portion specified (e.g. travel agency’s certification, a letter from the airline to the travel agency or client stating that the carrier can’t refund the airfare, and a statement from the hotel regarding cancellation policies).
    8. Cancellation expenses invoice or payment Slip.
    9. Other documents that will be required (depending on reason of the travel cancellation).

  • TRIP TERMINATION (Documents may be required, as applicable on the coverage)

    1. Original medical report and/or Death Certificate of the Insured Person or Insured’s Immediate Family Member
    2. Proof of relationship between the Insured Person and the immediate family member
    3. Certification/Affidavit stating the reason for the trip curtailment
    4. Proof of occurrence of a covered incident such as police report, firefighter’s report, insurance provider report, etc..
    5. Original copy of invoice and receipts as proof of advance payment made for transportation and accommodation expenses issued by the agency or directly by the wholesaler (Airline & Hotel) and a copy of the travel voucher issued by the agency.
    6. Copy of the general condition of sale of the wholesaler & retailer (Travel) agency
    7. Original cancellation document proving the non-refundable portion specified (e.g. travel agency’s certification, a letter from the airline to the travel agency or client stating that the carrier can’t refund the airfare, and a statement from the hotel regarding cancellation policies).
    8. Original official receipts for the additional fees paid for the return ticket to the home country such as no show fee, rebooking fees, penalties, etc. with a copy of the new travel itinerary
    9. Other documents that will be required (depending on reason of cutting the trip short)

  • FLIGHT DELAY / MISSED CONNECTING FLIGHT

    1. Original Certification from Airline
    2. Copy of the flight itinerary of the actual time and date of departure.

  • AIRCRAFT SKYJACKING

    1. Certification from the airline regarding the Incident

  • PERSONAL ACCIDENT

    1. Copy of Death Certificate
    2. Original Police Report
    3. Copy of Medical Report or Medical Certificate (if treated outside accredited network)
    4. Relevant legal Documents of the Beneficiaries establishing the relationship to the Insured
    5. Any documents deemed necessary by the Insurance Company

  • PERSONAL LIABILITY

    1. Original Police report

Step 2 – Send us an email with the required documents attached addressed to yourtravelinsurance@paramount.com.ph. Please note that we will process your claim upon submission of complete documents.

Step 3 – Please wait for our claims department to contact you within seven (7) business days upon submission of complete documents.

Note: Paramount and our emergency assistant provider should be notified as soon as possible via a call to +632 84594730 in the event of a claim.

How can you contact us?

For questions and concerns, you may:

  • Visit us at 11th floor, Sage House Building, 110 V.A. Rufino Street, Legaspi Village, 1229, Makati City
  • Call us through any of the following numbers:
    For inquiries:
    Tel. No: +632 8772 9264
    Mobile Nos: +63917 5583969; +63998 8421957
    To avail coverage:
    Tel. No: +632 8459 4730
  • Email us at yourtravelinsurance@paramount.com.ph (Note: Kindly indicate your concern in the subject of your email, e.g. Inquiry, Claim, Complaint, or Customer Support).