| FAQ
Main Page>Pre
Application
| |
Part
I.
Plan
Application Questions
| A.
What are the requirements in applying for a Philam
Pension, Memorial and Education Plan? |
 |
|
Pre
Application Answers
A. What
are the requirements in applying for a Philam Pension, Memorial
and Education Plan?
1.)
The applicant should be:
a.)18
to 65 years and 6 months old (183 days); and
b.)In
healthy physical condition
Note:
-
For the Ultima Memorial Plan (with insurance benefits),
the acceptable age is from 18 to 55 years old.
- Without
insurance benefits, the acceptable age is from 18 to
65 years old.
2.)
An accomplished Universal Application Form includes a fully
filled out health declaration portion bearing the signature
of the planholder.
3.)
A Php 300 policy fee is due to with the first payment.
(If the applicant is a sales counselor, the Php 300 policy
fee is waived.)
Note:
All
spaces in the application form should be properly filled
out or answered legibly. The applicant should indicate
whether the space provided for is not applicable.
Special
cases for Philam Education Plan (Classic and Gold) and Philam
Pension Plan (Comprehensive and Standard)
 In
cases where the pre-need price (PNP) ranges from the minimum
up to P1,500,000 and the applicant is 18 to 65 years
old, the requirements are:
a.) An accomplished application form, including a fully
filled out health declaration portion bearing the signature
of the planholder
In
cases where the PNP is Php 1,500,001 up to Php 2,000,000
and the applicant is 18 to 40 years old, the requirement/s
is/are:
(If
mode of payment is annual/spot cash)
a.) An accomplished application form
(If
mode of payment is monthly/quarterly/semiannual)
a.) An accomplished application form
b.) An accomplished long medical questionnaire
(If
the applicant is 41 to 60 years old)
a.) An accomplished application form
b.) An accomplished long medical questionnaire
(If
the applicant is 61 to 65 years old)
a.) An accomplished application form
b.) An accomplished long medical questionnaire
c.) A medical examination
d.) A chest X-ray, current or within six months from
application
e.) A resting ECG, current or within six months from
application
In
cases where the PNP is Php 2,000,001 up to Php 3,000,000
and the applicant is 18 to 60 years old, the requirements
are:
a.)
An accomplished application form
b.) An accomplished long medical questionnaire
(If
the applicant is 61 to 65 years old)
a.)
An accomplished application form
b.) An accomplished long medical questionnaire
c.) A medical examination
d.) A chest X-ray, current or within six months from
application
e.) A resting ECG, current or within six months from
application
f.) BT-1, FBS, cholesterol, creatinine, serum/albumin,
globulin
In
cases where the PNP is Php 3,000,001 up to Php 4,000,000
and the applicant is 18 to 50 years old, the requirements
are:
a.)
An accomplished application form
b.) A n accomplished long medical questionnaire
(If
the applicant is 51 to 60 years old)
a.)
An accomplished application form
b.) An accomplished long medical questionnaire
c.) A medical examination
d.) A resting ECG, current or within 6 months from application
(If
the applicant is 61 to 65 years old)
a.)
An accomplished application form
b.) An accomplished long medical questionnaire
c.) A medical examination
d.) A chest X-ray, current or within 6 months from application
e.) A resting ECG, current or within 6 months from application
f.) BT-1, FBS, cholesterol, creatinine, serum/albumin,
globulin
In
cases where the PNP is Php 4,000,001 up to Php 6,000,000
and the applicant is 18 to 40 years old, the requirements
are:
a.)
An accomplished application form
b.) An accomplished long medical questionnaire
c.) A medical examination
d.)
BT-2, FBS, cholesterol, creatinine, CBC HIV
(If
the applicant is 41 to 50 years old)
a.)
An accomplished application form
b.) An accomplished long medical questionnaire
c.) A medical examination
d.) A resting ECG, current or within 6 months from application
e.) BT-2, FBS, cholesterol, creatinine, CBC HIV
(If
the applicant is 51 to 69 years old)
a.)
An accomplished application form
b.) An accomplished long medical questionnaire
c.) A medical examination
d.) A chest X-ray, current or within 6 months from application
e.) A resting ECG, current or within 6 months from application
f.) BT-2, FBS, cholesterol, creatinine, serum/albumin,
globulin
(If
the applicant is 61 to 65 years old)
a.)
An accomplished application form
b.) An accomplished long medical questionnaire
c.) A medical examination
d.) A chest X-ray, current or within six months from
application
e.) A resting ECG, current or within six months from
application
f.) BT-1, FBS, cholesterol, creatinine, serum/albumin,
globulin
In
cases where the PNP is Php 6,000,001 up to Php 9,000,000
and the applicant is 18 to 40 years old, the requirements
are:
a.)
An accomplished application form
b.) An accomplished long medical questionnaire
c.) A medical examination
d.) A resting ECG, current or within six months from
application
e.) BT-3 (BT-1 plus SGOT, SGPT, bilirubin, HbsAG, HIV)
(If
the applicant is 41 to 50 years old)
a.)
An accomplished application form
b.) An accomplished long medical questionnaire
c.) A medical examination
d.) A chest X-ray
e.) ECG-XT, resting and exercise ECG (Double Master's
or Treadmill Test)
f.) BT-3 (BT-1 plus SGOT, SGPT, bilirubin, HbsAG, HIV)
(If
the applicant is 51 to 65 years old)
a.)
An accomplished application form
b.) An accomplished long medical questionnaire
c.) A medical examination
d.) A chest X-ray
e.) ECG, resting and exercise ECG (Double Master's or
Treadmill Test)
f.) BT-1 (BT-1 plus SGOT, SGPT, bilirubin, HbsAG, HIV
test)
(Refer
to Appendix
D for circular 98/71 for the matrix.)
Special
Cases for Philam Ultima Memorial Plan
In
cases where the PNP is P500,000 and the applicant is 18
to 50 years old, the only requirement is:
a.)
An accomplished application form, including a fully
filled out health declaration portion bearing the signature
of the planholder.
(If
the applicant is 51 to 65 years old)
a.)
An accomplished application form
b.)
An accomplished long medical questionnaire
In
cases where the PNP is Php 500,001 up to Php 750,000 and
the applicant is 18 to 50 years old, the only
requirement is:
a.)
An accomplished application form
b.) An accomplished long medical questionnaire
(Modes other than annual/spot cash are not accepted.)
In
cases where the applicant is 51 to 65 years old, the maximum
PNP will only be Php 500,000.
In
cases where the Initial Memorial Service Benefit (IMSB)
is from the minimum amount to Php 500,000 and the applicant
is 18 to 50 years old, the only requirement is:
a.)
An accomplished application form, including a fully
filled out health declaration portion bearing the signature
of the planholder.
(If
the applicant is 51 to 55 years old)
a.)
An accomplished application form
b.)
An accomplished long medical questionnaire
In
cases where the IMSB is Php 500,001 to Php 750,000 and the
applicant is 18 to 50 years old, the requirements are:
a.)
An accomplished application form
b.) An accomplished long medical questionnaire
(Modes other than annual / spot cash are not accepted.)
In
cases where the applicant is 51 to 55 years old, the
maximum (IMSB) will only be Php 500,000.
(Refer
to Appendix
C for memo dated March 16, 1999 on Plan Issuance
of Ultima Memorial Plan for the matrix.)
B. Where
should the applicant secure medical examinations and other
medical/laboratory tests to comply with the company's
requirements?
If
necessary, Philam Plans, Inc., will advise the applicant
to submit himself / herself to a medical examination
by an accredited Philamlife physician / examiner.
C. What
are the components of an application form?
a.)
Other Name(s) - This information is necessary if the
applicant uses other names, e.g., an actor who uses a
screen name, a Chinese migrant or a Chinese national who
has both a Chinese and a Filipino name.
(Refer
to Appendix
B for 99/134 on how to fill out the Universal Application
Form.)
b.)
Permanent Address - This bears the complete Philippine
address of the applicant, whether he/she is a Filipino
or a foreigner (transients are not accepted). The address
should include the telephone number and zip code.
c.)
Collection Address - Should the applicant not want
his/her billing statements to be sent to his/her permanent
residence, he/she should put an acceptable collection/billing
address. An applicant's place of business may be used
as the collection/billing address. If the applicant is
living abroad, he/she should have an acceptable Philippine
collection address, including the telephone number and
zip code.
d.)
Occupation - This refers to the specific work or position
of the applicant. If the applicant is an employee, he/she
should indicate his/her specific job, whether a clerk,
secretary, training officer, etc. If the applicant is
self-employed, it is acceptable to indicate "businessman/businesswoman"
under the space for "Work Details," since it
is assumed in good faith that he/she owns the business.
e.)
Work Details / Course Details - This includes the
specific duties of the applicant in his/her occupation.
For example, if he/she is an accountant, then the work
details include auditing, filing, etc. If applicant is
still studying, he/she should merely indicate "student."
f.)
Annual Income
- The planholder's gross income as indicated in the income
tax return.
g.)
Birth Date
- This refers to the date when the applicant was born,
following a month-day-year format.
h.)
Age
- This is the current age of the applicant at the time
of application.
i.)
Sex - Answers to this may either be male or female.
j.)
Civil Status - This refers to single, married, separated,
divorced, widow, widower.
k.)
Employer / Business Address / School - This bears
the complete name and address of the employer and the
business establishment / school where the applicant is
connected or working.
l.)
Nominee (for Education Plan only) - This refers to
any child named in the application who will be the beneficiary
of the educational benefits.
m.)
Relationship to Planholder - The planholder may choose
any nominee, even one with whom he/she has no blood relation
(the nominee may or may not be related to the planholder).
n.)
Pre-Need Price- Refers to the actual cost of the plan
o.)Installment
amount - How much the planholder will pay for the
plan depending on the mode of payment he/she chooses.
p.)
Manner of Payment - The planholder may choose to pay
his/her plan through the following: over the counter (PPI
office, Far East Bank and Trust Company, Bank of the Philippine
Islands, Philam Savings Bank) through sales counselor,
credit card, auto debit (bank), salary deduction (company/franchise).
q.)
Maturity Benefit / IMSB / Initial Educational Benefit
— the guaranteed amount payable to the planholder
upon maturity / availment date of the plan (Maturity Benefit/Initial
Educational Benefit); the fund which will be used for
the administration of the funeral services of the planholder
(IMSB).
r.)
Mode of Payment - How the planholder chooses to pay
for the plan; either spotcash, annual, semiannual, quarterly,
or monthly basis.
s.)
No Insurance Benefit - The plan can be issued without
insurance benefits for individuals who do not qualify
for insurance coverage.
t.)
Beneficiary/ies - The recipients appointed by the
planholder to receive the plan benefits on his/her behalf.
He/She can choose among the following as primary and/or
secondary beneficiaries:
a.)
Legal spouse (husband or wife)
b.)
Children, whether legitimate, illegitimate or legally
adopted
c.)
Parents
d.)
Siblings
e.)
Relatives
D.
Can a Filipino living abroad apply for a Pension, Memorial
or Education Plan?
Yes,
as long as he/she satisfies the requirements of a regular
planholder (i.e., duly accomplished application form, long
medical questionnaire if required, etc.) and he/she is still
a citizen of the Philippines. The said applicant should
place a Philippine collection address in the application
form.
For
Filipinos who have been naturalized in the United States
or Canada, they may apply for coverage provided the application
form was signed in the Philippines.
If
the applicant is a Filipino national but is no longer a
Filipino citizen, he/she should satisfy the requirements
of a regular planholder and fulfill the following: he/she
has the intention of coming back or settling in the Philippines
(domicile); or he/she has business or investment in the
Philippines; or has a place of residence in the Philippines.
If the applicant was naturalized in the United States or
in Canada, they may be given coverage provided the application
form was signed in the Philippines.
E. Can
a foreigner living abroad apply for a Philam Pension, Memorial
or Education Plan?
No,
foreigners living abroad cannot apply for any of our plans.
Foreigners may apply for insurance coverage but the applicant
must be a resident alien or must have stayed in the country
for at least five (5) years with a stable business. The
initial requirement is the agent's confidential report.
The Group Insurance Division (GID) of Philamlife evaluates
such cases. Foreigners who have been in the Philippines
for less than five years will be assessed on a case to case
basis. Marriage to a Filipino is an advantage since they
are more likely to stay in the country for good. This would
facilitate investigation in case of a claim.
F. What
types of occupation of the applicant does Philam Plans accept?
The
approval of the application also depends on the occupation
of the applicant. The list of Occupational Rating Guidelines
or a list of approved occupations can be provided by the
New Business Department (NBD) of Philam Plans. (See Appendix
E for list of occupations not accepted by Philam Plans.)
Philam Plans also accepts some occupations but with limitations,
like employees of the Armed Forces of the Philippines who
can only avail of up to a maximum coverage of Php 100,000
PNP. Similarly, applicants with the police force, NBI agents,
special agents, Customs police, and security guards are
also accepted with a maximum coverage of Php 100,000 PNP.
Seamen, actors with no stunt work, building or construction
workers, cultural dancers, commercial pilots, students,
non-Marine and non-Aviation workers, are also allowed. Mayors,
governors, senators are acceptable if deemed non-controversial.
Professional Sportsmen (e.g., engaged in basketball, tennis,
golf, jai-alai) are acceptable too. However, boxers or athletes
engaged in any sport with physical contact are not acceptable
(e.g., judo, karate, aikido, etc.).
G. If
an applicant gains an occupation (e.g., controversial politician)
that is not allowable only after the time of application,
what will happen to his/her plan?
Philam
Plans only considers the applicant's occupation at the time
of his/her application. If the applicant was not yet a politician
at the time he/she applied and the plan was approved, the
applicant is already covered by the provisions of the application
form.
A
controversial applicant is someone who:
a.)
is not known to be a peaceful and even-handed individual
b.) is involved in any pending electoral protest or politically
related litigation
c.) has reported threats on his/her life
d.) had violent incidents in the locality involving him/her
in the latest election in which he/she actively
participated.
e.) has known political opponents having violent and abusive
reputations
H. Once
the applicant has paid the first payment, does he/she enjoy
the rights and privileges stated in the application form assuming
he/she fulfills all underwriting requirements?
Once
the applicant has paid the initial payment, he/she enjoys
the rights and privileges stated in the application form
as long as he/she passes all underwriting requirements.
Otherwise, Philam Plans' only liability is to return the
payment made by the applicant.
I.
Applicant Mr. X made his first payment through a sales
associate, who correspondingly issued an SCTR on the same
day. The next day, the applicant died but the sales associate
has not yet remitted the payment of applicant Mr. X to any
Philam Plans office/cashier. Is Philam Plans compelled to
pay the beneficiaries any obligations stated in the application
form?
Yes,
if the application is later approved by Philam Plans. Upon
remittance of payment by the sales associate, the application
will then be processed by the New Business Department (NBD).
If the application is approved, the department in charge
of claims and benefits will process the claim of the beneficiary/ies
of the applicant. If the application is not approved, Philam
Plans will decline payment of any claims.
J.
What are the general reminders which an applicant must
be aware of in applying/contracting a plan application?
Only
applications with first payments shall be accepted for processing
by NBD . In cases of overpayment, the excess amount shall
be credited to the next installment payment. In case of
insufficient payment, the applicants shall be informed through
the sales associate and the plan policy shall be issued
only upon payment of the balance.
In
order to avoid delay in the approval/issuance of the application,
applicant, as well as the sales associate, should make sure
that the application form is accomplished completely, correctly,
and legibly and all other requirements are submitted with
the application.
Applications
with erroneous/incomplete answers should be corrected/completed
before they can be processed. For this purpose, the applicant
has to accomplish the Amendment to the Application for Plan
Agreement Form which will be sent to him/her through mail.
Whenever additional requirements are needed, the applicant
shall be informed by mail and processing shall continue
as soon as the requirements are submitted. If no response
is received after ninety (90) days from date of application
and after three (3) follow-up letters from NBD, the application
shall be declined due to incomplete requirements. An application
which satisfies the underwriting requirements and guidelines
shall be approved. All other applications shall be forwarded
to the GID of Philamlife for special underwriting. The initial
payment of a declined/incomplete application shall be refunded
less the processing fee.
K.
On the application form, there is a Declarations and Representations
section that verifies the physical condition of the applicant.
Will the applicant who is in excellent physical condition
be approved if he/she has a mental impairment?
No,
a mentally impaired person cannot enter into any contract.
L.
How will the approval of the application be evaluated
if there is no statement that the applicant has a mental impairment?
Will he/she receive the insurance benefits?
If
such mental impairment was not disclosed prior to the approval
of the agreement, there is a possibility that insurance
benefits will not be payable because of material concealment.
But this usually happens only if the claim was during the
contestability period.
M.
Do we accept plan applications from pregnant women?
Plan
applications from pregnant women shall no longer be denied
for insurance coverage on account of the pregnancy. Instead,
a pregnancy lien shall be impose during the contestabe period.
Any death arising out of or caused by pregnancy or childbirth
during the contestable period, shall not be covered by the
insurance.
If death occurs because of pregnancy during the contestability
period of the plan, the beneficiary may request for the
transfer of the plan in his name and after our approval
of his request, he may continue paying the balance of the
PNP of the chosen Pre-Need Plan. As the new planholder,
he will be subject to one year contestability period starting
from the date of issue of new agreement.
|
.jpg)
