NBFC stands for Non-Banking Financial Company.

These are institutions that provide banking services without holding a banking license.
Non Bank - a business that is not an officially established bank but offers many similar services.
Like financial services (such as loans or money transfers).
What is a non-bank? Whether taking a home loan or car loan, sending money electronically to
your friend or landlord, or buying a prepaid card or paying off debt, you are likely using a non-
what a company offering financial services without holding deposits
Functions of Non-Bank Financial Institutions
1. Collecting Funds - The collection of funds by non-bank financial institutions is carried out by
means of securities transactions. Examples of securities are house certificates, vehicles etc.
2. Location for the Community’s Loan Application - Non-bank financial institutions are a place
for people to apply for loans. Loans will be processed when the public provides goods or
securities as collateral.
An example of this function is when people need quick funds to buy basic needs. They can get a
number of loans by providing a cell phone or TV as collateral.
3. Location for Goods Credit - Non-bank financial institutions also function as a place for credit
for goods. It can be said that NBFI provides credit procurement services for people who want to
buy an item.The goods purchased by are in the form of cellphones, vehicles, laptops, washing
machines, and many more. The credit application process through NBFI is almost the same as a
bank. Someone who applies for credit will be assessed for eligibility first.
ROLE OF NBFCs
They provide services like loans, credit facilities, asset financing, and more. NBFCs are
particularly essential for enhancing financial inclusion, especially in under-banked and unbanked
areas.
Types of Non-bank Financial Institutions
1.Capital Market - is a place for buying and selling bonds, stocks, and other securities. Its
current existence helps people to multiply the money they have. Buying and selling in the
capital market can be referred to as investment or trading.
2.Pawnshop – Pawnshops are a place for people to get extra money for various household
needs. As the name suggests, money will only be given when there are goods that are pawned
by the community.
3.Insurance Company - You must be familiar with insurance companies. Insurance companies
try to raise public funds by selling insurance policies.
Functions of an Insurance Company
The main function of insurance is that eliminates the uncertainty of an unexpected and sudden
financial loss. Later the money that has been collected will be given back to the community
when they have an accident or illness as agreed in the initial agreement.
Insurance is a financial product sold by insurance companies to safeguard you and / or your
property against the risk of loss, damage or theft.
Insurance helps protect you, your family, and your assets. It will help you cover the costs of
unexpected and routine medical bills or hospitalization, accident damage to your car or injury of
others, and home damage or theft of your belongings.
Insurance offers multiple products and services in the Employee benefits, Asset management
services, Life, Health, Education, Retirement and so on.
Classification of Insurance
- Life Insurance Contracts: provide coverage against the risk of loss associated with human
life.
a) Whole Life Insurance: the insurer guarantees coverage for the entire lifetime of the insured,
provided premiums are paid. It combines protection and investment features, offering a death
benefit to beneficiaries upon the insured’s demise.
b) Term Life Insurance: coverage for a specified term, typically ranging from one to thirty years.
If the insured individual passes away during the policy term, the beneficiaries receive the death
benefit.
c) Endowment Policies: coverage for a specific term but also provide a maturity benefit if the
insured survives the policy term. These contracts combine elements of protection and savings,
making them suitable for long-term financial planning.
- General Insurance Contracts: cover risks other than those related to human life.
a) Property Insurance safeguard physical assets such as buildings, machinery, equipment, and
personal belongings against risks like fire, theft, natural disasters, or accidents.
b) Liability Insurance: provides coverage against legal liabilities arising from personal injury,
property damage, or financial losses caused to a third party. .
c) Motor Insurance: protect vehicle owners against financial losses arising from accidents, theft,
or damage to their vehicles. These policies are mandatory in many jurisdictions and can include
coverage for third-party liability, own damage, and personal accident.
d) Health Insurance: coverage for medical expenses incurred by individuals or families. They can
include hospitalization costs, outpatient treatments, prescription medications, and preventive
care services.
e) Travel Insurance: coverage against risks encountered during domestic or international travel,
including trip cancellation or interruption, lost luggage, medical emergencies, and personal
accidents.
f) Marine Insurance: protect against risks associated with maritime transportation, including
cargo damage, vessel accidents, and liability for ship owners and cargo owners.
Government Non-Financial Institution
1. GSIS - On May 13 May 1937 started its operation. Presently, the GSIS administers the
following: Life Insurance Fund, Retirement Fund, Health Insurance Fund/Medicine, State
Insurance Fund/Employees' Compensation, General Insurance Fund/Property Insurance,
and Barangay Officials' Life Insurance.
2. SSS - 1 September 1957) started its operation. At first SSS granted only death, disability,
sickness, and old-age benefits under its social security program for the
workers/employees in the private sectors. Other benefits have added to the program
such as hospitalization benefits under the Medicare program, employees' compensation
benefits, and maternity benefits.
Brief History CHINABANK
China bank was founded by Dee C. Chuan, a leading business leader and philanthropist, Don
Albino Sycip, known as the Dean of Philippine Banking, and ten other prominent businessmen
of the era. The Bank opened for business on August 16, 1920 on Calle Rosario—now Quintin
Paredes St., Binondo, Manila. China bank steadily grew and flourished. However, when Japan
invaded Manila in 1942, the Bank was liquidated by the Japanese Military authorities. They
reopened on July 23, 1945 and played a key role in post-World War II reconstruction and
economic recovery by lending heavily to businesses and entrepreneurs in critical industries.
China bank was among the first local banks listed on the Manila Stock Exchange in 1927, the
first in Southeast Asia to process deposit accounts on-line in 1969, and the first to offer
telephone banking in the Philippines in 1988. In 1991, acquired the universal banking license.
China bank’s expansion. In 2007, they acquired Manila Bank and re-launched it as China Bank
Savings. To further expand the branch network and presence they acquired Unity Bank in 2012
and Planters Development Bank in 2014.
Insurance under china bank
- LIFE AND HEALTH INSURANCE
Manulife China Bank Life Assurance Corporation offers a wide range of innovative insurance
products and services that aims to ensure every client receives holistic life, health, and wealth
solutions to address his or her individual needs.
- NON-LIFE INSURANCE
China bank Insurance Brokers Inc. (CIBI)
*INSURANCE SOLUTIONS FOR PERSONAL ASSETS
Residential Fire Insurance Protects you against the following:

• Fire and Lightning

• Natural Disasters (Earthquake Fire & Shock, Typhoon and Flood).
Motor Insurance Protects you against the following:

• Own Damage and Theft

• Acts of Nature (Earthquake Fire & Shock, Typhoon and Flood).
• Medical expenses for driver and passengers
• Third Party Bodily Injury and Property Damage
Personal Accident Insurance protection for individuals and their beneficiaries in case of:

• Accidental Death
• Disablement and Dismemberment
• Medical reimbursement incurred due to accident
• Special cover for sickness related cases such as Dengue, Chikungungya, Covid-19 and
leptospirosis
• Protects 24/7 on and off work or school
Travel Insurance protection for a passenger hours before the flight and for the whole duration of
trip

• Accidental death and disablement

• Cashless medical cover
• Travel inconveniences such as baggage loss, trip cancellation, trip termination and others
Medical Insurance health coverage for individuals to protect against financial exposure due to
medical expenses as a result of accident or illness which includes:

• Cashless In-patient and outpatient coverage including pandemic related cases

• Reimbursement of medical expenses due to accident or sickness
• Hospital Income benefit
*INSURANCE SOLUTIONS FOR BUSINESS ASSETS
Commercial and Industrial Property Insurance Provides comprehensive protection against the
following:

• Fire and Lightning

• Natural Disasters (Earthquake Fire & Shock, Typhoon and Flood).
Motor Fleet Insurance Protects the owner against loss or damage of vehicle and trucks against:

• Own Damage and Theft

• Acts of Nature (Earthquake Fire & Shock, Typhoon and Flood).
• Medical expenses for driver and passengers
• Third Party Bodily Injury and Property Damage
Chinabank Group Personal Accident Insurance Provides coverage protection for your employees
and key personnel and their beneficiaries in case of:

• Accidental death, Disablement and Dismemberment

• Medical reimbursement incurred due to accident and or sickness
• Protects 24/7 on and off work or school
• Burial Benefit
• Motorcycling cover
Travel Insurance Provides protection for a passenger hours before the flight and for the whole
duration of trip

• Accidental death and disablement,

• Cashless medical cover and
• Travel inconveniences such as baggage loss, trip cancellation, trip termination
and others
Medical Insurance Offers health coverage for employees of the company against financial
exposure due to medical expenses as a result of accident or illness which includes:

• In patient and outpatient coverage including pandemic related cases

• Reimbursement of medical expenses due to accident or sickness
• Hospital Income Benefit
Chinabank Kidnap and Ransom Insurance Covers the following:

• Reimburse Ransom and Extortion Expenses

• Financial Loss
• Personal Accident Insurance .