Group Yearly Renewable Term

EMPLOYEES’/MEMBERS & DEPENDENTS’ PROTECTION

Employers want to provide the irregular employees with a fringe benefit that is both cost effective and meaningful. An employee benefit that promotes employee peace of mind, loyalty and therefore productivity.

Group Yearly Renewable Term – (GYRT)

Insurance on the lives of a number of persons insured as a group under one policy.

Under this Group Plan, Beneficial Life shall be liable for any number of deaths caused by natural or accidental means occurring during the year for the full face amount of insurance corresponding to the insured members.

Protection is 24-hours a day, 365 days in a year, on or off duty. The plan is issued on a one-year renewable term basis. At every policy anniversary year, a new premium rate shall be determined after evaluating the experience of the Group. Depending on the claims experience, the premium may be maintained or slightly increase. Because of its low cost appeal, it enables the employers, unions and associations to provide the needed protection for their employees and members. The insurance shall commence immediately upon receipt of the first full premium.

Age Eligibility
– 18 to 65 years old Renewability
– Issued on a one(1) year renewable term Premium
– Depending on the approved Underwriting rates. Riders that can be attached
– Accidental Death Benefit
– Accidental Death & Dismemberment Schedule of Indemnities

Life The Principal Sum
Two hands The Principal Sum
Two Feet The Principal Sum
Sight of Two Eyes The Principal Sum
One Hand & One Foot The Principal Sum
One Hand & Sight of One Eye The principal Sum
One Foot & Sight of One Eye The Principal Sum
One Hand or One Foot ½ of the Principal Sum
Sight of One Eye ½ of the Principal Sum

– Burial Benefits
– Medical Reimbursement
– Healthcare Coverage

-Depends on the nature of the business

GROUP LIFE INSURANCE

Group insurance is a policy issued by an insurance company to an organization/association that is purchasing insurance coverage for its employees/members.

Under this group plan, Beneficial Life Insurance shall be liable for any number of deaths caused by either natural oraccidentalmeansoccurringduringtheyearforthefullfaceamountofinsurancecorrespondingtoinsuredstudent.

For only P100.00 per student per year, a student will be insured for the following amounts, for one year:

Natural death-P30,000
Accidental death-60,000
Burial benefit-8,000
Medical Reimbursement: hospitalization due to accident-12,000

It is designed to protect school owners from unforeseen financial liabilities incase of a student’s accidental or natural death, or accidentally caused disabilities. Students are insured worldwide, 365 days a year. A Group Master Policy is issued by Beneficial Life Insurance with the lists of names of the students covered, the amount of cover age and other terms of coverage. Each insured students receives a Certificate of Insurance that states the amount of coverage as well as the names of his/her beneficiaries.The life insurance portion pays the full amount of insurance to the parent and/or beneficiary/ies of the student in the event of natural or accidental death regardless of cause, time and place.

A supplementary benefit, the Accidental Death and Dismemberment Benefit(AD&D), provides payment when accident causes loss of life, limb, hand or eye sight within 90 days after the accident. If more than one loss is sustained from the accident, the one loss which provides the bigger benefit shall be paid. Schedule of benefits follow:

Life The Principal Sum
Two hands The Principal Sum
Two Feet The Principal Sum
Sight of two eyes The Principal Sum
One hand & one foot The Principal Sum
One hand & sight of one eye The Principal Sum
One foot & sight of one eye The Principal Sum
One hand or one foot One Half of the Principal Sum
Sight of one eye One Half of the Principal Sum

Eligibility
– All Students based on Group Master Policy issued by Beneficial Life Insurance with the lists of names of the students covered Renewability
– Issued on a one(1) year renewability term
Amount of Coverage
– P4,500.00
– P6,000.00
– P7,500.00
– P9,000.00
– P10,500.00
– P15,000.00
– P22,500.00
– P30,000.00

Benefits/Riders attached
– Life Insurance
– Accidental Death and Dismemberment
Benefit(AD&D)

Schedule of Indemnities

– Burial Benefits
– Medical Reimbursement

Local Government Unit(Barangay) Member Financial Security

One(1) unit of this package provides the following coverage per barangay official:

1. Group yearly renewable term(GYRT) coverage of P10,000.00, payable to beneficiaries incase of natural or accidental death;
2. Burial benefit of P1,000.00, also payable incase of natural or accidental death;
3. Accidental death benefit coverage(ADB) of P10,000.00. Incase of accidental death, P10,000.00 will be paid in addition to the GYRT and burial benefits. The annual premium of one(1) unit is only P102.50 per member. The maximum number of units that may be availed of per member is subject to company approval. All eligible officials of the barangay must be insured. Entry age range is 18-60 years old, renewable up to 65 years old only

Age Eligibility
– Officials of the Barangay ages 18-60, Renewable up to age 65.

Renewability
– Issued on a one(1) year renewability term Riders/Benefits attached
– Life Insurance
– Burial benefit
– Accidental Death benefit

Security Guards Group Life Insurance

One(1) unit of this package provides the following coverage per security guard:

1. Group yearly renewable term(GYRT) coverage of P20,000.00, payable to beneficiaries incase of insured’s natural or accidental death;
2. Burial benefit of P2,000.00, also payable incase of natural or accidental death;
3. Accidental death and dismemberment coverage(ADD)of P20,000.00. Incase of accidental death, P20,000.00 will be paid in addition to the GYRT and burial benefits.
4. Benefits are also provided incase of accidental loss of eye sight and/or amputation of limbs, payable to the insured, per schedule of benefits.

The annual premium of one(1) unit is only P149.00 per security guard.
Multiple units of this package may be availed of, subject to approval.
A start-up minimum of 50 guards is required per agency, 100% of members must be insured.
Entry age range is 18-55 years old, renewable up to 60 years old only.

Eligibility
– All Security Guards based on Group Master Policy issued by Beneficial Life Insurance with the lists of names of the security guards covered Renewability
– Issued on a one(1)year renewability term Premium
– Depending on the claim experience, premium may be maintained or slightly increased. Riders/Benefits Attached
– Life Insurance
– Accidental Death and Dismemberment Benefit(AD&D)
– Burial Benefits

Schedule of indemnities/life The Principal Sum
Two hands The Principal Sum
Two Feet The Principal Sum
Sight of Two Eyes The Principa lSum
One Hand & One Foot The Principal Sum
One Hand & Sight of One Eye The principal Sum
One Foot & Sight of One Eye The Principal Sum
One Hand or One Foot ½ of the Principal Sum
Sight of One Eye ½ of the Principal Sum

Scuba Diver Financial Security & Healthcare

Recreational Divers Protection Plan
This plan is issued on a one-year renewable term basis for those who engage in recreational diving only, as defined by the Philippine Commission on Sports Scuba Diving(PCSSD).

The amount of life insurance coverage in case of accidental or natural death is P400,000, payable to designated beneficiaries of the diver. Benefits include a maximum of three(3) recompression treatments scheduled and performed at any recompression chamberowned and operated by PCSSD.

For Filipino Divers: 24/7 life insurance coverage worldwide, except in areas restricted by the Dept. of Foreign Affairs.

For Foreign Divers: 24/7 life insurance protection within Philippine area of responsibility. Decompression sickness requiring treatment should have occurred while diving in Philippine waters only.

Recompression chambers are located at the AFP Medical Center, V.Luna QC, and at the Cebu Recompression Chamber, Camp Lapu-Lapu, Lahug, Cebu City.

Eligible applicants are Certified Recreational Divers from reputable International Diving Organizations or Associations, age 12 to 65 years old.

Annual premium is P4,500.00 per qualified applicant.

Age Eligibility
– Age 12-65 yrs old (certified Recreational Divers) Renewability
– Issued on a one(1) year renewability term
Amount of Premium
– P4,500.00
Amount of Coverage
– P400,000 (accidentalornaturaldeath)
Benefits/Riders Attached
– Three(3) recompression treatments
Scope of coverage
-For Filipino Divers
24/7 Worldwide Protection except in areas restricted by DFA
– For Foreign Divers
24/7 Protection within Phil. Area of Responsibility. Decompression Sickness requiring treatment should have occurred while diving in Phil. Waters only.

Senior Citizens Group Life Insurance

Senior Citizen Financial Security [for members of an LGU’s Office of Senior Citizen Affairs – OSCA]

OSCA groups legally under each LGU are the only groups allowed to apply for this coverage, and are required to fund all annual premiums for 100% of its eligible members. Voluntary offering & purchase of this life insurance is not allowed. Only one(1) amount may be chosen at contract inception, for all members OSCA groups can provide all of its eligible members, that is, those with entry ages of 60 to 70 years old with a fixed amount of life insurance cover age of either P10,000, P20,000, P30,000, P40,000 or P50,000. Both natural or accidental causes of death are eligible for coverage. Each eligible member must accomplish the standard Application for Insurance.
Exit age from this life insurance is the 76th birthday of the senior citizen.

Annual premiums are:
OSCA with At least 100 eligible members – P34.00 per 1000 insurance
OSCA with At least 101-300 eligibl emembers – P32.00 per 1000 insurance
OSCA with At least 301-700 eligible members – P31.00 per 1000 insurance
OSCA with At least 701-900 eligible members – P30.00 per 1000 insurance
OSCA with At least 901-1200 eligible members – P28.00 per 1000 insurance
OSCA with over 1,200 eligible members – P26.00 per 1000 insurance

Eligibility
– entry age of 60 to 70 years old
– exitageis76yrsold
Benefit
– Life Insurance Coverage (for accidental or natural causes)
Amount of coverage
– P10,000
– P20,000
– P30,000
– P40,000
– P50,000
Amount of Premiums
– Depending on the number of OSCA eligible members/enrollees

Tricycle Operators & Drivers Association(TODA) Member Financial Security

One(1) unit of this package provides the following coverage per member of TODA:

1. Group yearly renewable term(GYRT) coverage of P10,000.00, payable to beneficiaries incase of natural or accidental death;
2. Burial benefit of P1,000.00, also payable incase of natural or accidental death;
3. Accidental death benefit coverage(ADB) of P10,000.00. Incase of accidental death, P10,000.00 will be paid in addition to the GYRT and burial benefits. Medical reimbursement of P1,000.00 due to accidental causes, payable to the insured.

The annual premium of one(1)unit is only P122.50 per TODA member.
A maximum of 5units may be availed of per member.
A start-up minimum of 50 members is required perassociation, 100% of members must be insured.
Entry age range is 18-60 years old, renewable up to 65 years old only.

Eligibility
– TODA members ages 18-60 yrs old, renewable up to 65yrs old only
Renewability
– Issued on a one(1)year renewability tf term
Benefits/Ridersattached
– LifeInsurance
– Burial
– Accidental DeathBenefit
– Medical reimbursement

Accidental Death & Dismemberment(ADD)

This rider provides an additional amount for death due to accident. If living, the Insured paid the corresponding percentage of the amount of insurance for a loss by dismemberment of a body part as compensation for such loss.

– Entry age-18-59 years
– Exit age-60 years old
– ADD Benefit – not to exceed GYRT Coverage

Schedule of Indemnities

Life The Principal Sum
Two hands The Principal Sum
Two Feet The Principal Sum
Sight of Two Eyes The Principal Sum
One Hand & One Foot The Principal Sum
One Hand & Sight of One Eye The principal Sum
One Foot & Sight of One Eye The Principal Sum
One Hand or One Foot ½ of the Principal Sum
Sight of One Eye ½ of the Principal Sum

Medical Reimbursement

This rider provides reimbursement for the treatment of an injury caused by an accident but not to exceed the amount of insurance for this benefit.

– Entry age-18-59 years old
– Exit age -60 years old
– Medical reimbursement-10% of GYRT Coverage

Accidental Death Benefit

Coverage generally equals to the face amount payable in the event of death of the insured as a result of accident.

– Entry age 18-59 years old
– Exit age-60 years old
– ADB Benefit-not to exceed GYRT coverage

Burial Benefit

Upon submission & receipt of the Company of death certificate of the insured, pending submission of other required documents, the Company shall pay the burial benefit to help defray the costs of the burial expenses.

– Entry age-18-59 years old
– Exit age-60 years old
– Burial Benefit amount –10% of the GYRT coverage