What is OFW Insurance?
According to the Republic Act No. 8042, otherwise known as the Migrant Workers and Overseas Filipinos Act of 1955, as amended, all migrant workers must be covered by compulsory insurance policy when they work abroad.This law protects the overseas Filipinos and migrant workers and provides adequate and timely social, economic and legal services, protection to labor, and promotes full and equal employment opportunities.
Taking into consideration the welfare of our OFWs during the current global health situation, this March 2022, POEA has released Memorandum Circular 10, Series of 2022 where it stipulates the Implementing Guidelines on the Expanded Compulsory Insurance Coverage for Rehires and Direct Hires.
This circular specifies that the OFW Mandatory Insurance now includes returning OFWs or 'Balik-Manggagawa’ and direct hires.
- Balik-Manggagawa / Rehires: OFW returning to the same employer and the same job site; or OFWs returning to the same employer in a new job site
- Direct Hires: OFWs who are able to secure an overseas employment opportunity without the assistance or participation of the recruitment agency
** VIEW POEA MEMO **
WHERE TO APPLY
Cocolife OFW Insurance ==> apply here https://pinoyofwinsurance.ph/application (Longer application processing can take almost a week)
Paramount’s OFW Balik-Manggagawa insurance ==> apply here www.ofwinsurance.ph (Can be avaialble within an hour after online application)
Pioneer OFW Insurance ==> apply here https://pioneer.com.ph/ofw/
COCOLIFE Insurance Company and COCOGEN Insurance Company, Inc.
COCOLIFE Insurance Company and COCOGEN Insurance Company, Inc. PAMICO provides the Migrant Workers with the maximum insurance protection. On top of their financial strength being one of the biggest in Life and Non-Life Insurance both Cocolife Insurance Company and COCOGEN Insurance Company, Inc. have appointed PAMICO as their common management company that would administer the compulsory insurance coverage for Overseas Filipino Workers. The concept of seeking the services of an independent management company has been adopted to accord the OFWs a more focused attention on insurance matters which starts with the issuance of their insurance policies and ends in the satisfactory settlement of claims.
Visit https://pinoyofwinsurance.ph/ for more information and to apply online.
Paramount’s OFW Balik-Manggagawa insurance
OFW insurance gives you peace of mind and protects your hard-earned money against expenses that can lead to a serious financial crisis.It also covers you from unjust or illegal termination, as well as, provides your beneficiaries with life benefits in case of your passing.
Paramount Life & General Insurance Corporation (PLGIC) is the first insurance company that has been licensed by the Insurance Commission (IC) and accredited by the Philippine Overseas and Employment Administration (POEA) to offer OFW insurance since 2010.
To make the application easier for OFW Balik Manggagawa, Paramount has made the application easy and convenient by making it available online, allowing you to apply and pay anytime, anywhere.
Paramount's OFW Insurance is a product designed specifically for returning OFW/Migrant workers to provide an extra layer of protection to our OFWs in cases where their employers/principal fail to perform their liabilities to the worker.
Visit www.ofwinsurance.ph for more information and to apply online.
/
Below are the benefits of Paramount’s OFW Balik-Manggagawa insurance:
- Natural death benefit - this benefit provides the beneficiaries with at least $10,000 in case of the insured OFW’s death due to natural causes
- Accidental death benefit - provides at least $15,000 to the beneficiaries in case of the Insured OFW’s death is resulting directly from accident.
- Permanent total disablement and dismemberment benefit - provides at least $7,500 benefit to the insured OFW in case of disability during the duration of the OFW’s employment. The disability may either be due to accident or any health-related cause or sickness or ailment.
- Repatriation benefit - provides the actual cost of transportation (airfare only) of the OFW in case his/her employment is terminated by the employer without any valid cause, or by the OFW with just cause. In the event of death, this benefit shall provide arrangement and payment for the repatriation of the OFW’s remains and belongings.
- Subsistence allowance benefit - provides financial assistance of up to $100/month, not exceeding 6 months if the insured OFW is involved in a case or litigation for the protection of his/her rights in his country of employment.
- Compassionate visit - a benefit that allows one (1) family member or a requested individual to visit the insured OFW in case he/she is hospitalized in his country of employment and has been confined for least seven (7) days.
- Medical evacuation - a benefit that provides the insured OFW the necessary transportation to another medical facility when an adequate medical facility is not available proximate to the migrant worker as determined by PLGIC’s physician and consulting physician.
- Money claims - the settlement money or adjudged amount for the remaining months/years of employment contract from a case filed by an OFW against his/her recruitment agency with the National Labor Relations Commission (NLRC).
-
Medical repatriation to the migrant worker’s residence - a benefit that provides the insured OFW the necessary transportation to another medical facility when an adequate medical facility is not available proximate to the migrant worker as determined by PLGIC’s physician and consulting physician.
How to avail
OFW Balik-Manggagawa Mandatory Insurance is open to all returning overseas Filipino workers, from ages 21 to 60 years old, with a valid employment contract or working permit/visa. Premium for a 12-month cover is $36.
Application is fast and simple. No need to leave your home, fall in line and fill out printed forms because Paramount has made everything convenient just for you!
For a hassle-free payment, you can pay your insurance premium through our different payment channels and receive your Certificate of Insurance in just minutes.
Visit www.ofwinsurance.ph for more information and to apply online.
/
Eligibility
-
For individuals aged 21 to 60 years old, with valid passport and working visa/permit.
-
Returning Overseas Filipino Workers ("Balik-Manggagawa"). Valid employment contract is required for coverage below 12 months.
-
Must be in good health.
Premium
For only US$36/year, you and your family’s future is secured!
No.
of Months
Premium
(US Dollar)
6
Months
$18.00
12
Months
$36.00
18
Months
$54.00
24
Months
$72.00
30
Months
$90.00
36
Months
$108.00
42
Months
$126.00
48
Months
$144.00
Pioneer OFW Insurance
Pioneer Insurance is a trusted name in the insurance industry that has consistently charted milestones for over half a century through its main arms of life and non-life insurance. Euromoney Annual Global Insurance Survey named Pioneer as Best Insurer in the Philippines for two years in a row and Best Insurer in Asia in 2010.
Below are the benefits of Paramount’s OFW Balik-Manggagawa insurance:
- Natural death benefit - this benefit provides the beneficiaries with at least $10,000 in case of the insured OFW’s death due to natural causes
- Accidental death benefit - provides at least $15,000 to the beneficiaries in case of the Insured OFW’s death is resulting directly from accident.
- Permanent total disablement and dismemberment benefit - provides at least $7,500 benefit to the insured OFW in case of disability during the duration of the OFW’s employment. The disability may either be due to accident or any health-related cause or sickness or ailment.
- Repatriation benefit - provides the actual cost of transportation (airfare only) of the OFW in case his/her employment is terminated by the employer without any valid cause, or by the OFW with just cause. In the event of death, this benefit shall provide arrangement and payment for the repatriation of the OFW’s remains and belongings.
- Subsistence allowance benefit - provides financial assistance of up to $100/month, not exceeding 6 months if the insured OFW is involved in a case or litigation for the protection of his/her rights in his country of employment.
- Compassionate visit - a benefit that allows one (1) family member or a requested individual to visit the insured OFW in case he/she is hospitalized in his country of employment and has been confined for least seven (7) days.
- Medical evacuation - a benefit that provides the insured OFW the necessary transportation to another medical facility when an adequate medical facility is not available proximate to the migrant worker as determined by PLGIC’s physician and consulting physician.
- Money claims - the settlement money or adjudged amount for the remaining months/years of employment contract from a case filed by an OFW against his/her recruitment agency with the National Labor Relations Commission (NLRC).
- Medical repatriation to the migrant worker’s residence - a benefit that provides the insured OFW the necessary transportation to another medical facility when an adequate medical facility is not available proximate to the migrant worker as determined by PLGIC’s physician and consulting physician.
How to avail
OFW Balik-Manggagawa Mandatory Insurance is open to all returning overseas Filipino workers, from ages 21 to 60 years old, with a valid employment contract or working permit/visa. Premium for a 12-month cover is $36.Application is fast and simple. No need to leave your home, fall in line and fill out printed forms because Paramount has made everything convenient just for you!
For a hassle-free payment, you can pay your insurance premium through our different payment channels and receive your Certificate of Insurance in just minutes.
Visit www.ofwinsurance.ph for more information and to apply online.
/
Eligibility
- For individuals aged 21 to 60 years old, with valid passport and working visa/permit.
- Returning Overseas Filipino Workers ("Balik-Manggagawa"). Valid employment contract is required for coverage below 12 months.
- Must be in good health.
Premium
For only US$36/year, you and your family’s future is secured!
No. of Months |
Premium (US Dollar) |
6 Months |
$18.00 |
12 Months |
$36.00 |
18 Months |
$54.00 |
24 Months |
$72.00 |
30 Months |
$90.00 |
36 Months |
$108.00 |
42 Months |
$126.00 |
48 Months |
$144.00 |
Pioneer OFW Insurance
Pioneer Insurance is a trusted name in the insurance industry that has consistently charted milestones for over half a century through its main arms of life and non-life insurance. Euromoney Annual Global Insurance Survey named Pioneer as Best Insurer in the Philippines for two years in a row and Best Insurer in Asia in 2010.
