Sum assured of life insurance industry Philippines 2016-2022
In 2022, the total value of the sum assured of the life insurance industry in the Philippines amounted to approximately 12.98 trillion Philippine pesos. This reflects an increase from the previous year's total of 11.33 trillion Philippine pesos. Sum assured is the amount of the coverage outlined in the insurance policy that the policyholder is guaranteed to receive from the insurer before any bonuses.