As Filipinos face a growing risk of multiple critical illness diagnoses, AIA Philippines has launched an insurance plan with a minimum coverage of ₱500,000, allowing policyholders to claim up to three times for major illnesses.

Dubbed AIA Critical Protect Plus, the plan features a multi-pay structure designed to provide continued financial protection even after an initial diagnosis.

In particular, the coverage spans more than 100 critical conditions, which can be expanded to nearly 150 with optional riders, and extends up to age 100.

Beyond major illnesses, the product includes benefits for early-stage conditions, intensive care unit (ICU) support, and gender-specific cancers, alongside a waiver of premiums following a major illness claim.

To encourage healthy lifestyles, the plan integrates with AIA Vitality, allowing policyholders to boost their coverage by up to 50 percent through engagement in wellness activities.

This launch follows a period of massive growth for the insurer. According to its 2025 financial statements, AIA Philippines’ net income jumped more than three-fifths to ₱5.7 billion from ₱3.5 billion the previous year.

“Some of it was driven by the market movements, foreign exchange (forex) movements, etc. We have a lot of high levels of United States (US) dollar assets,” AIA Philippines Chief Financial Officer (CFO) Gary Ogilvie told reporters on Wednesday, May 6, adding that the insurer is looking to “drive a good strong” growth this year.

Its premium income stood at ₱12.296 billion in 2025, higher by 2.8 percent from ₱12.1 billion a year ago.

Ogilvie said the launch reflects the company’s long-term shift toward protection-focused products, noting that it pivoted to traditional offerings about seven years ago to strengthen its focus on providing customers with appropriate life insurance and protection coverage.

While savings-focused products are popular, he said these are often insufficient on their own. “Everybody should have the right life insurance and protection, not just savings-focused products. That’s important to have the right insurance safety nets,” he said.

Addressing current economic pressures, Ogilvie said that while inflation—which peaked at 7.2 percent in April—presents affordability challenges, the cost of being uninsured is far higher.

“It might be painful to pay the insurance premiums, but it’s a lot more financially destructive to have that loss of earning of the breadwinner, major medical, critical illness bills. That puts families in debt for years, if not decades,” Ogilvie explained.

He maintained that AIA Philippines’ strong financial performance is a byproduct of focusing on essential customer needs.

“Ultimately, we want to sell a suite of insurance solutions that meets the life insurance, health, and long-term savings needs of our customers,” Ogilvie said, adding that “if we have the right solutions with the right distribution, the financial metrics will take care of themselves.”