Life insurance proceeds can completely pay-off the insured’s out standing loan amount taken by a mortgage loan borrower in an amount equal to the original loan amount, with the creditor/bank designated as beneficiary. In case of the borrower’s death, the balance of the loan will be fully paid through the life insurance benefit, resulting in the redemption/release of the mortgage. Any excess benefit will be paid to the decedent’s family.

10 Year Convertible Term (10YCT)

10 YCT is a plan that provides insurance coverage over a fixed period. Among all plans,it has the lowest cost of insurance per 1000 and is designed for those who cannot afford yet more expensive cash value plans.This plan guarantees the payment of the full amount of insurance to designated beneficiaries if the insured dies by natural or accidental causes within the 10 year protection period. Premiums are also payable for 10 years. Before the end of 10 years, the policy holder may convert this term insurance policy to any permanent cash value generating plan. Proof of insurability is not required if the new plan’s amount is equal to or less than the original amount of coverage. If conversion is not availed of, at the end of the 10 year period, the insurance contract is terminated. This plan has not maturity benefit.

Member’s Eligibility
-18 to 55 years old(age as of the nearest birthday)
-56 and above are required to undergo the medical examination

Minimum amount of coverage:
-P500,000.00

Maximum amount of coverage:
-Depending on the financial Underwriting

Limited Pay Whole Life Plans

Two (2) Pay Life, Participating

Five (5) Pay Life, Participating

Ten (10) Pay Life, Non-Participating

Limited pay life plans provide lifetime insurance protection, and the shortest paying period of only 2, 5 or 10 years..After 2, 5 or 10 years, the policy becomes fully paid up and life insurance coverage continues for life.

Guaranteed cash values accumulate during the insured’s lifetime. These maybe availed of thru a policy loan for any cash needs. The amount of coverage, net of any policy loan, plus accumulated dividends will be paid to the insured’s designated beneficiaries in case the insured dies by natural or accidental causes. The 2/5 Pay plans share in the company’s divisible surplus income and are credited with annual dividends after the 1st or 2nd year,which may be left with the company to accumulate. Dividends are not guaranteed

Member’s Eligibility
– 1 to 70 years old (age as of the nearest birthday)
– 56 and above are required to undergo the medical exam

Juvenile Insured
– Minor member who is covered by the plan
– 0 to 17 years old
– Pay or should be 18-60 years old

Amount of coverage is equivalent to the outstanding loan balance.

Maximum amount of coverage:
– Depending on the financial Underwriting

Riders that can be attached
– Waiver of Premium due to Disability (WPD)
– Accidental Death Benefit (ADB)
– Special Accident Rider (SAR)
– Special Accident Rider with Disability Indemnity (SARDI)
– Payor’s Clause (PC)

Beneficial Money Accumulator Plan (BMAP)

BMAP provides lifetime insurance protection at the lowest possible cost. Guaranteed cash values accumulate as premiums due are paid. These may be availed of thru a policy loan for any cash needs. The amount of coverage, net of any policy loan, plus accumulated dividends will be paid to the insured’s designated beneficiaries in case said insured dies by natural or accidental causes. Level amount of premiums are payable for life. BMAP plans share in the company’s divisible surplus income and are credited with annual dividends after the 2nd year, which may be left with the company to accumulate. Dividends are not guaranteed.

Member’s Eligibility
– 1 to 65 years old(age as of the nearest birthday)
– 56 and above are required to undergo the medical exam

Juvenile Insured
– Minor member who is covered by the plan
– 0 to 17 years old
– Payor should be 18-60 years old

Amount of coverage is equivalent to the outstanding loan balance.

Maximum amount of coverage:
– Depending on the financial Underwriting

Riders that can be attached
– Waiver of Premium due to Disability (WPD)
– Accidental Death Benefit (ADB)
– Special Accident Rider (SAR)
– Special Accident Rider with Disability Indemnity (SARDI)
– Payor’s Clause (PC)