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)

GROUP CREDIT LIFE INSURANCE

(GCLI)or

MORTGAGE REDEMPTIONINSURANCE (MRI)

• 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 = amount Benefit amount payable to the creditor = amount of outstanding loan balance at the time of Assured of outstanding loan balance at the time of Assured Debtor’s death Debtor’s death

• Amount of insurance shall be adjusted yearlyAmount of insurance shall be adjusted yearly

• Yearly renewableYearly renewable

Date of Date of loan is approved and releasedloan is approved and released

Effective Date of Insurance

• Date of the individual Date of the individual application or evidence of application or evidence of insurability is approvedinsurability is approved by Insurance Company by Insurance Company

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 CoverageP 500,000

Paid Amount

Php 250,000

Outstanding Loan

Php 250,000

Jan

Death

June Dec

CreditorBorrower

All existing & new loan borrowers All existing & new loan borrowers

Eligibility Requirement

Actively at work Actively at work

At least eighteen (18) years of age At 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 old Termination age: sixty five (65) years old

Should have current loan standing Should 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

Individual Application forms / Special Individual 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):

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)

Termination of Individual Insurance

Date of the Termination of the Group policy Date of the Termination of the Group policy

• Anniversary of the effective date of his insurance Anniversary of the effective date of his insurance immediately following the date he attains exact age of immediately following the date he attains exact age of sixty-five (65)sixty-five (65)

• Thirty-one Thirty-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 Assured premiums are paid for the account of such Assured DebtorDebtor

• Date such indebtedness is completely discharged Date such indebtedness is completely discharged

Date ownership of such Date ownership of such indebtedness is transferredindebtedness is transferred to to another Creditor other than the Creditor named hereinanother Creditor other than the Creditor named herein

Termination of Individual Insurance

Date such indebtedness Date such indebtedness becomes in default for more than becomes in default for more than three (3) monthsthree (3) months

Date he Date he ceases active performance of his normal daily ceases active performance of his normal daily activitiesactivities due to injury or disease due to injury or disease

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