Your Essential Guide to Choosing Protection in Chile
Welcome to your definitive guide to the Chilean insurance market. As one of South America’s most stable economies, Chile has a sophisticated and competitive insurance sector. Whether you are an expatriate needing a health plan, a driver seeking mandatory auto insurance, or a resident planning for the future, this guide will help you understand your options.
The entire industry is supervised by the Comisión para el Mercado Financiero (CMF), the official government regulator that ensures all providers are solvent and operate under strict standards, giving you peace of mind in your choice
How to Choose an Insurer in Chile
- Verify with the CMF: Before signing anything, ensure the insurance company is registered and supervised by the CMF. This is the most critical step to guarantee you are dealing with a legitimate entity.
- Understand Your Needs: Define your priorities. Are you looking for a private health plan (ISAPRE), mandatory auto insurance (SOAP), or a life insurance policy? Knowing what you need is key to comparing effectively.
- Compare Plans & Read the Fine Print: Get quotes from several companies. Pay close attention to coverage details, deductibles (deducibles), and exclusions, especially for health and property insurance.
Understanding Key Insurance Types in Chile
1. The Chilean Healthcare System: FONASA & ISAPRE
Chile’s healthcare system operates on a dual model:
- FONASA (Fondo Nacional de Salud): This is the public health fund, providing coverage for the majority of the population. All workers contribute 7% of their income. Care within the public network is free.
- ISAPREs (Instituciones de Salud Previsional): These are private insurance companies offering health plans with access to private clinics and doctors. Members typically contribute more than the mandatory 7% for better coverage, shorter wait times, and greater choice.
2. Auto Insurance & the Mandatory SOAP
- SOAP (Seguro Obligatorio de Accidentes Personales): This is mandatory for all motor vehicles. It is a basic personal accident policy that covers medical expenses, disability, or death for the driver, passengers, and any third parties involved in an accident. It does not cover damage to your vehicle or other property.
- Voluntary Auto Insurance: To cover theft, vehicle damage, and civil liability, you must purchase a separate, voluntary policy from a general insurer.
3. Life Insurance & Pension Funds (AFPs)
- Life Insurance (Seguro de Vida): Provides a financial payout to your beneficiaries. Policies can be simple term plans or whole life policies that include a savings component.
- AFPs (Administradoras de Fondos de Pensiones): While primarily for retirement savings, AFPs also manage mandatory disability and survivorship insurance (Seguro de Invalidez y Sobrevivencia – SIS), which acts as a form of life/disability insurance for all affiliated workers.
Directory of Leading Providers in Chile
Find the right insurance coverage for your needs with our comprehensive directory of providers in Chile. We’ve categorized each insurer to simplify your search. Click on a company’s logo to explore their specific products and access their official website directly.
- All Insurers
- General & Life Insurers
- Health Insurance Providers
- Specialty Insurers & Global Reinsurers
- Insurance Brokers & Risk Advisors
- Other Financial Institutions (Banks)
- Retirement Savings
BCI Seguros
A leading insurer in the market, with a very strong presence in auto, home, and commercial property & casualty insurance. Part of the BCI financial group.
Chilean Office General & Life Insurers
Consorcio Nacional de Seguros
One of Chile's largest and most established insurance companies, with a major presence in both life and general insurance lines.
Chilean Office General & Life Insurers
HDI Seguros
A provider of property, casualty and financial lines insurance.
Chilean Office General & Life Insurers
SURA
Offers comprehensive insurance solutions for individuals and families.
Chilean Office General & Life Insurers, Health Insurance Providers
Chubb
A global leader in property and casualty insurance, as well as accident and health, reinsurance, and life insurance. It serves a diverse group of clients, from individuals to large corporations.
Chilean Office General & Life Insurers
Mapfre
Un socio de seguros de confianza, que ofrece seguros de automóvil, hogar, vida y salud.
Chilean Office General & Life Insurers
MetLife
A global provider of insurance, annuities, employee benefits, and asset management. It offers life, dental, disability, and retirement solutions to individuals and businesses.
Chilean Office General & Life Insurers
Penta Vida
A local company with a focus on general insurance lines, including auto and property coverage.
Chilean Office General & Life Insurers, Retirement Savings
Vida Security
A well-regarded local provider offering a range of life, health, and general insurance products, part of Grupo Security.
Chilean Office General & Life Insurers
Allianz
A global insurance giant providing a range of life, health, and property & casualty solutions
Chilean Office General & Life Insurers
ISAPRE Banmédica
One of the largest private health insurers (ISAPRE) in Chile, offering a variety of health plans.
Chilean Office Health Insurance Providers
ISAPRE Consalud
A leading ISAPRE with a broad base of affiliates and a wide range of health coverage options.
Chilean Office Health Insurance Providers, Retirement Savings
ISAPRE CruzBlanca
A well-known ISAPRE providing a variety of health plans and medical network access.
Chilean Office Health Insurance Providers
ISAPRE Vida Tres
Focuses on providing premium health plans with access to a select network of high-quality clinics and providers.
Chilean Office Health Insurance Providers
ISAPRE Nueva Masvida
Another key ISAPRE in the Chilean healthcare system
Chilean Office Health Insurance Providers
Banco de Chile
Offers a range of insurance products (auto, home, life, fraud) to its banking clients.
Chilean Office Other Financial Institutions (Banks)
Santander Seguros
Provides insurance solutions through its strategic alliance with Zurich (Zurich Santander).
Chilean Office Other Financial Institutions (Banks)
Scotiabank
Offers various insurance policies, including auto, home, and life, integrated with its banking services.
Chilean Office Other Financial Institutions (Banks)
Banco Estado
The state-owned bank, which offers accessible insurance products for its large customer base.
Chilean Office Other Financial Institutions (Banks)
AFP Cuprum
A major AFP in Chile's privatized pension system.
Chilean Office Specialty Insurers & Global Reinsurers, Retirement Savings
AFP Capital
A leading Pension Fund Administrator (AFP) managing retirement savings, disability, and survivorship insurance for its affiliates. Part of the SURA group.
Chilean Office Specialty Insurers & Global Reinsurers, Retirement Savings
AFP HABITAT
One of the largest AFPs, with a significant number of members and assets under management.
Chilean Office Specialty Insurers & Global Reinsurers, Retirement Savings
AFP modelo
AFP modelo logo
Chilean Office Specialty Insurers & Global Reinsurers, Retirement Savings
AFP PlanVital
A key player in the Chilean pension fund market.
Chilean Office Specialty Insurers & Global Reinsurers, Retirement Savings
AFP ProVida
A major pension fund administrator, part of the MetLife group.
Chilean Office Specialty Insurers & Global Reinsurers, Retirement Savings
AXA
A multinational insurance and asset management group offering a broad range of products, including life, health, property, and casualty insurance for personal and commercial clients.
Chilean Office General & Life Insurers
Bupa
A global healthcare company providing health insurance, and operating clinics, hospitals, and dental centers. It is known for its international private medical insurance plans.
Chilean Office Health Insurance Providers
AON
A provider of property, casualty and financial lines insurance.
Chilean Office Insurance Brokers & Risk Advisors
Solunion
Ofrece soluciones de seguros de crédito y fianzas.
Chilean Office Specialty Insurers & Global Reinsurers
STARR
A global insurance and investment organization providing a wide range of specialized property, casualty, and accident & health insurance products, with a strong focus on aviation and marine.
Chilean Office Specialty Insurers & Global Reinsurers
Zurich
A global multi-line insurer that serves customers in more than 215 countries and territories, offering a wide range of property, casualty, and life insurance products and services.
Chilean Office General & Life Insurers
HSBC
Offers life and investment insurance tied closely with banking services.
Chilean Office Other Financial Institutions (Banks)
Everest
A leading provider of reinsurance and specialty insurance to other companies.
Chilean Office Specialty Insurers & Global Reinsurers
Howden
A major international insurance broker providing a range of specialist insurance solutions, risk management, and employee benefits advice to clients.
Chilean Office Insurance Brokers & Risk Advisors
Coface
A global leader in trade credit insurance, offering solutions to protect businesses against non-payment of their commercial debts.
Chilean Office Specialty Insurers & Global Reinsurers
Marsh
A global leader in insurance broking and risk advisory. Part of Marsh McLennan, it provides services to commercial and individual clients.
Chilean Office Insurance Brokers & Risk Advisors
Pacific Prime
A global insurance advisor and broker specializing in providing health insurance solutions for individuals, families, and corporations worldwide.
Chilean Office Insurance Brokers & Risk AdvisorsFrequently Asked Questions (FAQ)
1. Is car insurance mandatory in Chile? Yes, the basic personal accident insurance known as SOAP is mandatory for all vehicles. However, for coverage against theft or damage to your car or other property, you need a separate voluntary policy.
2. What is the difference between FONASA and an ISAPRE? FONASA is the public health fund that provides universal coverage to most Chileans. An ISAPRE is a private insurance company that offers health plans with greater choice and access to private clinics, which members pay for directly.
3. Who regulates insurance companies in Chile? All insurance companies, ISAPREs, and AFPs are supervised by the Comisión para el Mercado Financiero (CMF), Chile’s official financial regulator.
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