UPDATING
MY POLICY
YOUR LIFE INSURANCE POLICY SHOULD REFLECT CHANGES IN YOUR
LIFE CYCLE AND,
CONSEQUENTLY, YOUR NEEDS AND EXPECTATIONS. LET US ASSIST YOU
IN UPDATING YOUR
POLICY TO ACCOMMODATE THESE CHANGES.
Q: How do I update my address?
Notify the company immediately by fax, mail or through your
agent to ensure that you receive your Premium
Notice and other correspondence from our Company at your new
address.
Q: How do I correct personal information in my policy?
To correct the Insured's name or date of birth, complete the
Request for Policy Change Form. Submit a
copy of the legal documents such as birth or baptismal certificate,
marriage contract, or an affidavit attesting to
the correct facts.
Q: How do I change mode of premium payments?
Complete Request for Policy Change Form and pay the chosen
modal premium. The chosen mode should
conform with the cycle of the original mode of premium payment.
For example, if the original mode was
quarterly, then you may shift to an annual basis only in the
policy anniversary, i.e. on the first quarter payment
date.
Q: How do I secure a cash loan against my policy?
Submit a Policy Loan Agreement Form in duplicate, duly signed
by the insured/owner, any irrevocable
beneficiary and assignee along with Original Policy Contract
or an Affidavit of Loss if missing. Be ready to
present ID such as passport, driver's license, company or
professional ID when picking-up the check. A representative
must present an authorization letter by the insured and acceptable
identification documents.
Q: How do I change beneficiaries?
Complete request for Policy Change Form indicating the new
beneficiaries, their age and relationship to the
insured. Have the form duly signed, dated and witnessed by
the owner and any irrevocable or
irrevocable-with-limited-rights beneficiaries. If the beneficiary
is a minor (below 18 years old), a trustee has to
be designated by indicating his name in the Request for Policy
Change Form. Submit also the policy contract
to facilitate processing.
A
trustee is only a representative of the minor beneficiary
in documenting claims. He or she has no authority
over the minor while insured is still living. Immediate relatives
can be designated as trustee.
Q: How do I amend the policy?
Complete request for Policy Change Form indicating desired
policy changes. Submit Health Statement and
other proof of good health whenever as maybe required by the
Company. Amending the policy means
changing the face amount, the plan, the supplementary benefits,
etc. At any policy change, which will result in
the reduction of coverage or benefit, we will require the
consent of any assignee or irrevocable beneficiary. On the
other hand, if the policy change will result to additional
benefits, the Company reserves the right to add
additional requirements whenever necessary.
Q: What do I do when my contract is lost?
Complete an Indemnity Agreement Form and let an assignee or
irrevocable beneficiary sign the form. Have the
form notarized and submit it when you apply for the duplicate
copy of the contract.
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