2. No. Name of Company Networth
1 Php 6.1B
2 Malayan Insurance Php 5.6B
3 BPI/MS Insurance Php 1.8B
4 Mafpre Insular Insurance Php 1.1B
5 PNB Gen. Insurance Php 1.0B
Top Five (5) Non-Life Insurance
(Based on Networth)

4. GROUP CREDIT LIFE
INSURANCE
(GCLI)
or
MORTGAGE REDEMPTION
INSURANCE (MRI)

5. • Life protection cover for eligible Debtor or CreditorLife protection cover for eligible Debtor or Creditor
FeaturesFeatures
• Covered under a Group Master PolicyCovered under a Group Master Policy
• Benefit amount payable to the creditor = amountBenefit amount payable to the creditor = amount
of outstanding loan balance at the time of Assuredof outstanding loan balance at the time of Assured
Debtor’s deathDebtor’s death
• Amount of insurance shall be adjusted yearlyAmount of insurance shall be adjusted yearly
• Yearly renewableYearly renewable

6.  Date ofDate of loan is approved and releasedloan is approved and released
Effective Date of Insurance
• Date of the individualDate of the individual application or evidence ofapplication or evidence of
insurability is approvedinsurability is approved by Insurance Companyby Insurance Company

7. How does it work?
Ex.: For a loan of Php 500,000.00, payable in One (1) Year, effective
01 January 2008.
Example: Amount of Coverage
P 500,000
Paid Amount
Php 250,000
Outstanding Loan
Php 250,000
Jan
Death
June
Dec
CreditorBorrower

8.  All existing & new loan borrowersAll existing & new loan borrowers
Eligibility Requirement
 Actively at workActively at work
 At least eighteen (18) years of ageAt least eighteen (18) years of age
 Maximum entry age: sixty four (64) years oldMaximum entry age: sixty four (64) years old
 Termination age: sixty five (65) years oldTermination age: sixty five (65) years old
 Should have current loan standingShould have current loan standing
 No loan default for more than three (3) monthsNo loan default for more than three (3) months
 Satisfactory evidence of insurabilitySatisfactory evidence of insurability

9.  Individual Application forms / SpecialIndividual Application forms / Special
Health QuestionnaireHealth Questionnaire
Underwriting Requirement
 Medical Examination (if required)Medical Examination (if required)
 Additional Medical Records (at least 6 mos. old)Additional Medical Records (at least 6 mos. old)
Additional Requirements (P100K up):Additional Requirements (P100K up):

10. Administration Process
• Underwriting
• Billing
• Submission of completely filled out & signed
GCLI/MRI individual application forms
• Issuance of Official Receipt
• Remittance of Premium Due
• Issuance of Individual Certificates (Optional)

11. Termination of Individual Insurance
 Date of the Termination of the Group policyDate of the Termination of the Group policy
• Anniversary of the effective date of his insuranceAnniversary of the effective date of his insurance
immediately following the date he attains exact age ofimmediately following the date he attains exact age of
sixty-five (65)sixty-five (65)
• Thirty-oneThirty-one (31) days from the end of the period for which(31) days from the end of the period for which
premiums are paid for the account of such Assuredpremiums are paid for the account of such Assured
DebtorDebtor
• Date such indebtedness is completely dischargedDate such indebtedness is completely discharged

12.  Date ownership of suchDate ownership of such indebtedness is transferredindebtedness is transferred toto
another Creditor other than the Creditor named hereinanother Creditor other than the Creditor named herein
Termination of Individual Insurance
 Date such indebtednessDate such indebtedness becomes in default for more thanbecomes in default for more than
three (3) monthsthree (3) months
 Date heDate he ceases active performance of his normal dailyceases active performance of his normal daily
activitiesactivities due to injury or diseasedue to injury or disease

13. ANNUAL PREMIUM RATE PER THOUSANDANNUAL PREMIUM RATE PER THOUSAND
X.XXX.XX
** The Premium rate shall be subject to review every policy year.The Premium rate shall be subject to review every policy year.
Premium/Rate