Terms and Conditions : Pamana Plan P50 - 1 month

Conditions of the Policy

Plan

  1. Group Term Life Insurance.
    • This is a life insurance coverage on a One Year Term basis providing for death benefit only, subject to renewal on a monthly basis.
  2. Accidental Death & Dismemberment.
  3. Accidental Medical Reimbursement.
    • Company will pay the actual expenses incurred within fifty-two (52) weeks from date of the accident for such treatment, hospital charges and nurses fee, up to amount payable stated in the Amount of Coverage when injury is the result of accident.
  4. Burial Assistance Benefit.
    • When the insured dies (accidental or natural), the company shall pay the amount stated in the Amount of Coverage as burial assistance.

Eligibility

All qualified members who are healthy, actively at work and at least 18 but not more than 65 years old may be enrolled under the program. Actively at work shall be defined as physically and mentally able to perform his normal duties of daily living without the need of assistance from anyone.

Non-Medical Limit

On a Non-Medical Limit (NML), the Bank may insure its members for amount not exceeding P500,000.00 on any one life provided that said member has no adverse health declaration in his application form.

Enrollment

Each group shall be responsible for updating their list of active members on a monthly basis. Mandatory enrollment must be required under this program.

Claims

All claims filed by the group shall be paid upon receipt of complete and clean documents. For this purpose, the following shall be submitted as standard claims requirements:

  1. Accomplished claimant’s statement duly notarized
  2. Original or certified true copy of Death Certificate
  3. Proof of cover
  4. Certificate of membership
  5. Attending physician’s statement duly notarized
  6. Marriage contract, if applicable
  7. Copy of valid IDs of Insured and beneficiaries
  8. Original or certified true copy of Birth Certificate of Insured and beneficiaries
  9. Original or certified true copy of Police Report (in case of violent or accidental death)