CFP
ELIGIBILITY REQUIREMENTS
- Yearly renewable term insurance for at least 5 members of the family.
- At least 18 years old and not more than 69 years old at last birthday (age of entry to the plan)
- Members and non-members of the cooperative are eligible to apply
- Their legitimate children from 1 to 17 years old may also participate in the plan.
- If there are no minor children, the following are eligible for children slots and entitled to children benefits only:
- Parents, brothers and sisters of the planholder/members, grandparents, uncles, aunts and cousins up to the 4th civil degree with incontestable proof of membership to the same family household. In-laws are also eligible, provided that they can also be proven as incontestable member of the same family household of the planholder/member.
- They must be in good health, able to perform the usual duties of their livelihood and not afflicted with life threatening diseases.
SCHEDULE OF BENEFITS
The face amount of insurance is 15,000 pesos up to the maximum of 100,000 pesos insurance coverage.
| BENEFITS | AMOUNT OF INSURANCE | ||
|---|---|---|---|
| Principal | Spouse | 3 Children | |
| Life Insurance | Php 15,000 | Php 100,000 | Php 200,000 |
| Accidental Death & Dismemberment | Php 15500 | Php 50,000 | Php 100,000 |
| Cash Burial Benefits | Php 7,500 | Php 15,000 | Php 30,000/td> |
| Hospital Confinement Daily Benefit | Php 200/day for 5 days | Php 200/day for 5 days | Php 200/day |
| Weekly Indemnity for Loss of Income due to Accident | Php 5/1000 of coverage for 1 week of current policy | Php 5/1000 of coverage for 1 week of current policy | NONE |
SCHEDULE OF INDEMNITY
In the event of the death of the child: 4 years old and below.
| BENEFITS | Company’s Liability |
|---|---|
| Less than 1 year | 10% of the sum insured |
| 1 year or more, but less than 2 years | 10% of the sum insured |
| 2 years or more, but less than 3 years | 40% of the sum insured |
| 3 years or more, but less than 4 years | 60% of the sum insured |
| 4 years or more, but less than 5 years | 80% of the sum insured |
| 5 years or more | 100% of the sum insured |
In partnership with:
