In order to further customize our products to meet the financial protection requirements of our clients, there are several supplemental benefit options that can be added to the existing product packages.
Life Insurance Supplementary Benefits
Total Disability Waiver (TDW) waives premiums if the Insured becomes totally disabled before age 60, and remains disabled for at least six (6) consecutive months; if total disability occurs between ages 60-65, premiums will be waived up to age 65 only.
Payor's Benefit (PB) waives premium to the earliest of the child's attainment of age 25, basic policy's premium paying period or payor's attainment of age 60 upon death or disability of the payor before age 60. After the waiver period and while the policy is in premium paying status, disability coverage is automatically provided on the insured's life. Thus, the inception of Disability waiver coverage on the life insured is always coincident with the termination of coverage of the payor.
Term Rider (TR) provides term insurance coverage during the coverage period, which is the same as the base policy, or up to attained age 70, whichever is earlier. Premiums are level.
Pre-Need Supplementary Benefits
- Accidental Death and Dismemberment (AD&D-PPP or AD&D-MatPd) pays a lump sum benefit upon accidental death; and cash benefits upon accidental dismemberment of certain body parts. Coverage may be up to the end of the paying period or maturity date (or planholder's attainment of age 70, whichever is earlier).
- Term Life (TL) pays a benefit up to 200% of the basic plan's maturity value upon death of the planholder. Benefit coverage under the TL rider will extend throughout the maturity period and will expire at the earlier of the maturity date or planholder's 70th birthdate.
- Hospital Income Benefit (HIB) pays a fixed benefit allowance to the planholder for each day of hospital confinement during the paying period or until planholder's age 60, whichever is earlier.
- Critical Illness (CI) provides an amount up to 50% of the basic plan's maturity value or Php1 Million, whichever is less, upon the first diagnosis of 6 major illnesses during the paying period -- Cancer, Kidney Failure, Coronary Artery Bypass Surgery, Heart Attack, Major Organ Transplant and Stroke.
- Return of Payment (ROP CoTerm or ROP+5) provides an amount equal to 100% of the total installments paid (but based on annual mode) shall be paid to the planholder at the end of the maturity period or 5 years after the basic plan's maturity date.