Life Policy Deed Of Assignment Philippines

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1. What is a policy number?

Your policy number is the unique identifier of your policy with BPI-Philam (formerly Ayala Life). It is indicated in the front page of your policy. Your policy number will be helpful in your inquiries about your policy.

2. What is an Effectivity Date?

The effective date of the policy is the start of your insurance coverage. It is indicated on the front page of your policy.

3. What is contestability?

Contestability period is the time period during which the insurer is not obligated to pay a claim because of material misrepresentations found in the application. A policy becomes "incontestable" when the contestability period is over. The contestability period is normally 2 years.

4. Can I assign my policy?

Your policy can be assigned to a third party i.e. bank as a collateral. However, if you will assign your policy to a third party, BPI Philam should be informed in writing through the accomplishment of the Deed of Assignment Form. During assignment, your rights as the owner is transferred to the party to which the policy was assigned.

5. Who may be my beneficiary/ies?

Your beneficiary is the individual you nominated to receive the death benefit of your policy. Your beneficiary could either be primary, which means the first in line to receive the proceeds upon demise of the insured, or contingent, which means the person who will receive the proceeds should the primary beneficiary die before the insured.

6. What are the rights of my beneficiary/ies?

Your beneficiary could also be assigned as revocable beneficiary, which means that your beneficiary has no vested rights on your policy. The rights of a revocable beneficiary is limited to receiving the proceeds of the policy. While the irrevocable beneficiary, being part owner of the policy, has vested rights thus any changes made on the policy will require a written consent from him/her.

What happens if the beneficiary dies before the insured?

Should your beneficiary die before the insured, as owner of the policy, you can nominate a new beneficiary by amending your policy. If no beneficiary is named on your policy, the death benefit proceeds will be payable to the estate of the insured.


7. There are discrepancies in my policy, how can I make changes?

If in case there are discrepancies/wrong information in your policy, you can correct it by applying an amendment for your policy. For further instructions on how to facilitate amendments, you may call our Customer Service hotline at (02) 528-5501 or PLDT toll-free 1-800-188-89100 then press 4 + 2 + 1.

A. Financial

  • How can I decrease my Face Amount?
    You may choose to decrease the face amount of your policy by accomplishing the following forms and submitted to any BPI-Philam Bancassurance Sales Executive assigned in BPI and BPI Family Bank branches nationwide

                 - Filled-out Amendment Form, indicating the new Decreased Face Amount
                 - Client Information Update Form
                 - Photocopy of Two Valid Identification Cards

  • Can I delete a rider to my basic policy?
    A rider is a supplementary contract attached to your policy. It provides additional benefits at minimal cost. A rider is normally attached during purchase of the insurance policy but you also have the choice to remove a previously attached rider or add more to your existing riders.

          To do this, the following must be submitted to BPI-Philam:

              - Filled-out Amendment Form, indicating the rider to be removed
              - Client Information Update Form
              - Two Valid Identification Cards


B. Non-Financial

  • How can I correct my name in my policy?
    In cases that the name in the policy is not consistent with your name in your birth certificate, you can apply for a change of name amendment. The following are the requirements:

                 - Filled-out Amendment Form, indicating your correct name
                 - Photocopy of your Birth Certificate
                 - Client Information Update Form
                 - Affidavit of Discrepancy (may not be required if due to typographical error)
                 - Two Valid Identification Cards

  • How can I update my contact information?
    You can change your contact information, primarily your address, home telephone number and mobile number. To do this, just call our Customer Service hotline at (02) 528-5501 or PLDT toll-free 1-800-188-89100 then press 4 + 2 + 1 to talk to BPI-Philam Customer Service Representative. Changes can be effected real time and paperless during the call under Phoneinsurance.
     
  • How can I change my status?
  1. Single to Married
    Submit to any BPI-Philam Bancassurance Sales Executive assigned in BPI and BPI Family Bank branches nationwide:
             - Filled-out Amendment Form, indicating your new status and your new name
             - Marriage Contract
             - Client Information Update Form
             - Photocopy of your 2 Valid Identification Cards which has been changed to
               your new name and bearing your new signature
     
  2. Married to Separated
    Submit to any BPI-Philam Bancassurance Sales Executive assigned in BPI and BPI Family bank branches nationwide:
             - Filled-out Amendment Form, indicating your new status and your new name, if
               applicable
             - Court Order formalizing the separation
             - Client Information Update Form
             - Photocopy of your 2 Valid Identification Cards which has been changed to your
               new name and bearing your new signature, if applicable
  • Can I make changes on my beneficiary/ies?
    You normally nominate your beneficiary/ies upon application for insurance. However, you may change your beneficiary/ies anytime after the policy has been issued. The following are the requirements in change of beneficiary/ies:
             - Filled-out Amendment Form, indicating your beneficiary to be added or deleted,
              whichever is applicable.
             - For addition, to establish insurable interest and relationship of the beneficiary to
               the insured, the following needs to be submitted: 
                     1. Birth certificate of the beneficiary
                     2. Marriage Contract, if beneficiary to be added is a married child of the owner
                     3. Letter establishing insurable interest, if beneficiary to be added is only
                        a dependent of the insured and is not immediate family
                                - Client Information Update Form
                                - Photocopy of 2 Valid Identification Cards
     
  • How can I correct my birthdate in my policy?
    For cases that there are discrepancies in the birthdate indicated in your policy and the birthdate indicated in your birth certificate, you can amend the one in the policy by submitting the following:
           -  Filled-out Amendment Form, indicating your correct birthdate
           -  Birth Certificate showing your correct birthdate
           -  Affidavit of Discrepancy (may not be required if due to typographical error)
           -  Client Information Update Form
           -  Photocopy of 2 Valid Identification Cards
     
  • How can I change my mode of payment?
    You are allowed to change your mode of payment during the anniversary of your policy (i.e. <space> from annual to semi-annual, semi-annual to quarterly or vice versa). You may request your new modal premiums by calling our Customer Service hotline at (02) 528-5501 or PLDT toll-free 1-800-188-89100 then press 4 + 2 + 1 (Policy Number)+1+0.

    Once you have the information, deposit the payment using your Premium Renewal Bank Reference Number in any BPI or BPI Family Bank nationwide using the following account numbers:

    For Peso Policies
           - BPI 0321-0174-44 
           - BFB 6001-0443-44
    For Dollar Policies
           - BPI 1734-0089-11
           - BFB 6004-0181-31
    Payments must be made within 3 banking days from date of phone request.


8. When can I reinstate my lapse policy and what are the requirements for reinstatement?

Your policy can be reinstated within 3 years from last due date. Once you reinstate, you return your policy to its in-force status and can once again start enjoying the benefits of your policy. For reinstatement, you have to pay for all you past due premiums and overdue interest. Reinstatement can be done paperless subject to Phoneinsurance parameters. For more details, please call our Customer Service hotline at (02) 528-5501 or PLDT toll-free 1-800-188-89100 then press 4 + 2 + 1.

You may deposit your payments, using your Premium Renewal Bank Reference Number indicated in the upper portion of your statement, in any BPI or BPI Family Bank Branches Nationwide using the following account numbers:

       For Peso Policies
          - BPI 0321-0174-44
          - BFB 6001-0443-44

       For Dollar Policies
          - BPI 1734-0089-11
          - BFB 6004-0181-31

Your deposit date must be the same with the date indicated in your request for quotation.

9. What is a grace period?

If you are unable to pay for your premiums during your date, you have a 31-day grace period in which you will be allowed to pay without interest. During the period of grace, your policy is still in-force. If death occurs during the period of grace, the unpaid premiums and any indebtedness, shall be deducted from the death benefit. Once the grace period expires, the policy will lapse and you have the option to reinstate (see item no. 8) within 3 years to make your policy in-force.

В полном недоумении Сьюзан посмотрела в окно кабинета на видневшийся внизу ТРАНСТЕКСТ. Она точно знала, что на такой пароль уходит меньше десяти минут. - Должно ведь быть какое-то объяснение.

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