Mission Statement
Founded in 2001, PIFAAP is an association of leading insurance and financial services professionals dedicated to promoting high standards of ethics, client service and productivity.
With its focus on professional excellence thru continuing education, PIFAAP aims to provide practitioner-based channels for learning as well as foster camaraderie and esprit de corps by implementing programs that build collaborative relationships among peer professionals.
Code of Ethics
The Professional Insurance and Financial Advisors Association of the Philippines was organized to promote the highest standards of professional insurance sales, marketing and financial advisory in the Philippines. Therefore, as a PIFAAP member you must:
1. Always put the best interests of your clients above your own, ensuring full disclosure so that clients can make informed decisions.
2. Maintain the highest standards of professional competence through the regular pursuit of skills upgrading and continuing education.
3. Keep abreast of, abide by, and conform to all governmental regulations of the various jurisdictions in which you do business.
4. Always conduct yourself in a manner that reflects favorably on the financial services industry and on PIFAAP.
We’re All About Quality
Numbers are not a major focus of PIFAAP, even while it acknowledges that membership growth is significant success barometer over time. The association primarily targets autonomous, self-sustaining insurance professionals looking to stay in the business for the long haul. These are individuals who, in turn, have struck strategic alliances with stable, visionary companies both in the life and non-life sectors. PIFAAP members are now, or well on their way to becoming, coaches and counselors who provide value for all their clients and for this reason, the minimum entry-level requirement for membership is three (3) years as a fully licensed agent.
We’re all about integrity and ethical behavior in the way we conduct our business. PIFAAP requires its members to maintain strict adherence to a Code of Ethics that emphasizes keeping the clients’ best interests above one’s own, at all times. Through a vigilant ethics Committee, It has also established an effective means of dealing with breaches of its code.
We’re All About Professionalism
We’re All About Productivity
PIFAAP wants to attract the kind of members who take an entrepreneurial approach to every aspect of their insurance practice, those who monitor trends and align their businesses with the emerging rules of the global economic system. Here, productivity is still the ultimate measure of success, and therefore PIFAAP is obliged to require an annual income of at least half a million pesos inclusive of renewals in order to maintain continuing membership in the organization. While this may be viewed as self-limiting, it nevertheless ensures that PIFAAP continuously represents the top producers in the Philippine insurance industry next only to MDRT.
The first letter in PIFAAP means ‘Professional’ and the organization aims to ensure that its members continuously strive to improve their skills and competence by requiring 30 hours of Continuing Education (CE) credits to renew their annual membership. These CE credits are waived in the initial year of membership for those already carrying the RFC or LUTC Fellow designation. Insurance practitioners who carry CLU or ChFC designations or have received MBA degrees in Business or Finance need only fulfill 20 hours of CE credits yearly.
We’re All About Continuing Education
PIFAAP members can accumulate credits and meet their Continuing Education requirements by attending PIFAAP conferences and special-interest sessions; work-related, independent seminars and workshops (not those sponsored by their own companies); in-school short courses on insurance sales and marketing (such as those occasionally offered by De La Salle and Ateneo Universities); IARFC and RFPI classes; annual conferences and sales clinics of LUAP, GAMA, MDRT and PIFAAP; and the like.
