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Policy Acknowledgement Receipt

OWNER

PROPOSED INSURED

POLICY NUMBER

PLAN NAME

ADDRESS

This is to acknowledge the receipt of the above policy contract while the Proposed Insured and/or Owner are both aliveand in good health.

RECEIVED BY OWNER

FULL NAME and SIGNATURE

DATE RECEIVED

RECEIVED BY OWNER's AUTHORIZED REPRESENTATIVE:

RELATIONSHIP TO OWNER

FULL NAME and SIGNATURE

DATE RECEIVED

DELIVERED BY

FULL NAME and SIGNATURE of SOLICITING AGENT

DATE OF DELIVERY

Received at given address

THIS PORTION IS FOR COURIER SERVICES ONLY

Given address not found

Policy Owner moved out of given address

No person to receive at given address

Others (please specify)

FULL NAME OF MESSENGER

DATE OF DELIVERY

:

:

:

:

:

Set for Life

50028210

MR. KET IAN CAJOTE COTALES


PUROK 2, CARANGAN OZAMIS CITY MISAMIS OCCIDENTAL PHILIPPINES 7200

:

:

:

:

:

:

:

:

:

:

:

:

:

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PUROK 2, CARANGAN

OZAMIS CITY

MISAMIS OCCIDENTAL

PHILIPPINES 7200


June 11, 2015

Dear MR. COTALES,

Set for Life 50028210

On behalf of FWD, we'd like to take this opportunity to welcome you as a new customer.

You have taken an important step by looking after your financial well-being with Set for Life.

Your cover is effective as from June 09, 2015.

Attached is a copy of your Policy Contract which provides the features and benefits of Set for Life along with the terms and

conditions. You will receive the Unit Statement within thirty (30) days from the date of this letter.

Kindly email [email protected] or send back the Policy Acknowledgement Form enclosed herein to acknowledge

receipt of this Policy Contract. If Set for Life does not meet your needs, you may cancel your policy in writing within fifteen (15) days

from receipt of your Policy Contract.

Your Financial Planner / Financial Solutions Consultant MS. LANIE MAY FAITH LUZON FERRER is available on 9094168350 to

assist you with your queries. You can also contact Customer Connect on (632) 888-8388 Monday to Friday between 8am to 5pm.

Again, welcome to FWD. We look forward to helping you meet your f inancial needs now and in the future.

Get ready to live!

Sincerely yours,

Peter Karl GrimesPresident and CEO

FWD Life Insurance Corporation

This is a system-generated correspondence. If issued without alteration, this does not require a signature.

Cc: LANIE MAY FAITH LUZON FERRER

10000069

AGENCY

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Page | i

POLICY NUMBER

INSURED

PLAN NAME

REGULAR PREMIUM

ISSUE AGE

GENDER

OWNER

50028210


SET FOR LIFE

2,499.00

22

MALE


EFFECTIVE DATE

ISSUE DATE

NUMBER OF YEARS PAYABLE

MODE OF PREMIUM PAYMENT

CURRENCY

RISK CLASS

POLICY DATA PAGE DATE 11 JUNE 2015

STANDARD

PHILIPPINE PESOS

MONTHLY

5 YEARS

11 JUNE 2015

09 JUNE 2015

REGULAR TOP-UP PREMIUM 0.00

SUM ASSURED 1,000,000.00

Policy Data Page

Policy Information

Schedule of Benefits

BENEFIT BENEFIT AMOUNT

AT EFFECTIVE DATE

BENEFIT

PERIOD

EXPIRY

DATE

FORM

NUMBER

Basic Plan

Set for Life - 5 Years 1,000,000.00 * To Age 100 09 JUNE 2093 RPVUL.07.2014

Supplementary Benefits

FWD Accidental Death Benefit Rider for UL 1,000,000.00 To Age 70 09 JUNE 2063 ADBVUL.07.2014

FWD Critical Illness Benefit Rider for UL 500,000.00 To Age 70 09 JUNE 2063 CIBVUL.07.2014

FWD Hospital Cash Benefit Rider for UL 1,500 /day To Age 70 09 JUNE 2063 HCBVUL.07.2014

Schedule of Premiums

Annual Semi-Ann ual Quart erly Monthly

Regular Premiums Payable 30,000.00 15,000.00 7,500.00 2,499.00

Regular Top-Up Premiums Payable 0.00 0.00 0.00 0.00

Total Modal Premium Chosen

Premium Due Dates

PHP 2,499.00

Every 9th of the month

Total Modal Premiums Payable 30,000.00 15,000.00 7,500.00 2,499.00

Investment Fund Details

Name of Funds Invested Fund Allocation Rate

FWD Peso Bond Fund 100.00%

Premium Charge rate (as % Regular Premium)

First Year

Second Year

Third Year and Subsequent Policy Years

70.00%

45.00%

0.00%

Premium Charge rate (as % of Regular Top-Up Premium and % of Lum p Sum Top-Up Premium) 5.00%

Fund Switching Charge rate (as % of amount switc hed)

First to Sixth per policy year via online facility

All others

Free

1.00%

Fund Management Charge rate (as % of Account Value per annum, VAT exclusive)

FWD Peso Balanced Fund

FWD Peso Fixed Income Fund

FWD Peso Equity Fund

2.00%

1.75%

2.00%

Surrender Charge rate (as % of amount with drawn)

For all Policy Years NIL

Charges Details

FWD Peso Stable Fund 2.00%

FWD Peso Bond Fund 1.75%

FWD Peso Growth Fund 2.00%

FWD Peso High Dividend Equity Fund 2.00%

* Subject to the provisions of Section 15 Death Benefit.

THE DOCUMENTARY STAMP TAX OF THIS POLICY HAS BEEN PAID.

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Regular Pay Variable Life Insurance Plan

Policy Contract

FWD Life Insurance Corporation shall pay the Benefits provided by this Policy to:

the Owner if the Insured is alive, or;

the surviving Beneficiaries if the Insured dies

subject to the terms and conditions set forth in this Policy.

Lucia Chona Sevilla Ventura

Chief Finance Officer

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Form Number: RPVUL.07.2014 Page | 2

Table of Contents

PAGE

POLICY DATA PAGE i

INSURANCE BENEFIT 1

DEFINITIONS 3

GENERAL PROVISIONS

1 Entire Insurance Contract 5

2 Effectivity of the Policy 5

3 Ownership 5

4 Non-Participating 5

5 Currency and Place of Payment 5

6 Cooling Off Period 5

7 Assignment 6

8 Misstatement of Age and/or Sex 6

9 Incontestability 6

10 Suicide 6

11 Beneficiary 7

12 Premiums 7

13 Reinstatement 9

14 Charges 9

15 Death Benefit 10

16 Claim Settlement 1117 Termination of the Policy 11

18 Funds 11

19 Deferment and Limitation 13

20 Surrender and Withdrawals 13

21 Fund Switch 13

22 Change of Fund Allocation Rate 14

23 Loyalty Bonus 14

24 Disclosures of Conflict of Interest 14

25 Limitation of Action 15

IMPORTANT NOTICE 15

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Definitions

!Account Value"or !Account"refers to Account Value per Fund as defined in Section 18 Funds.

!Age"refers to the age last birthday of the Insured as of the Effective Date.

!Application Form"refers to the form prescribed by FWD and completed and signed by the Owner and/or Insured,

which provides information about the physical and medical condition, any occupation and any avocation of the Insured.

This form is used to determine whether the Insured seeking insurance with FWD meets FWD#s underwriting

requirements and to determine the Insured#s appropriate risk class.

!Beneficiary"or !Beneficiaries"refers to Beneficiary as defined in Section 11 Beneficiary.

!Benefit"refers to the Basic Plan and Supplementary Benefit/s if any.

!Contract Debt"refers to the Contract Debt as defined in Section 14 Charges.

!Death Benefit

" refers to the Benefit Amount payable upon the death of the Insured as defined in Section 1 5 Death

Benefit.

!Fund"or !Investment Fund" or !Variable Unit Linked Investment Fund"refers to any of the separate funds created by

FWD wherein the Owner#s Regular Premium, Regular Top-Up Premium/s if any and/or Lump Sum Top-Up Premium/s if

any are invested as defined in Section 18 Funds.

!FWD"refers to !FWD Life Insurance Corporation", a corporation organized and existing under Philippine law.

!Insanity"refers to a psychiatric disorder or mental illness resulting in the legal incompetence or irresponsibility of the

Insured, wherein the Insured has been prescribed with long term medication by a Medical Practitioner for the

treatment of such disorder or illness, and that he/she was on medical treatment prior to the day of his/her suicide. The

psychiatric disorder or mental illness must be of such severe nature that the Insured cannot distinguish fantasy fromreality, cannot conduct his/her affairs due to psychosis, or is subject to uncontrollable impulsive behavior. The mental

health assessment of the Insured must be done by a Medical Practitioner with a specialization in psychiatry.

!Insurance Charges"refer to Insurance Charges as defined in Section 14 Charges.

!Insured"refers to the person covered by this Policy and whose name is shown on the Policy Data Page.

!Lump Sum Top-Up Premium"refers to any unscheduled additional premium for this Policy which is paid by the Owner

on top of the Regular Premium and any Regular Top-Up Premium due.

!Medical Practitioner"refers to a doctor that is licensed or registered in the Philippines, with a medical degree and

accredited by a medical board or an equivalent organization, and who is other than the Insured or a member of the

Insured#s immediate family.

!Monthly Anniversary"refers to the anniversary date of this Policy on succeeding calendar months determined from

the Effective Date. If there is no such date in any of the succeeding calendar months that corresponds to the same day

as the Effective Date, the Monthly Anniversary shall be on the last calendar day of such month.

!Next Valuation Date" refers to the Valuation Date that comes immediately after the approval date of any particular

transaction. Such transactions include, but are not limited to, creation of Units, lapsation, partial withdrawal,

cancellation, and deduction of Charges, and should occur before the cut-off schedule determined by FWD.

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!Owner"refers to the Owner of this Policy who may or may not be the same person as the Insured.

!Policy Data Page" shows the Policy Information, the Schedule of Benefits of the Basic Plan and Supplementary

Benefit/s if any, the Schedule of Premiums, the Investment Fund Details, and the Charges Details. The Policy

Information includes the Insured, Owner, Regular Premium, Regular Top -Up Premium, Sum Assured, and Effective Date.

The Schedule of Benefits includes the Benefits, Benefit Amount, Expiry Date and Form Number of the Basic Plan andSupplementary Benefit/s if any. The Schedule of Premiums include the Premium Due Dates. The Investment Fund

Details includes the Funds and the Fund Allocation Rate. The Charges Details includes the Premium Charge rate, the

Fund Switching Charge rate and the Fund Management Charge rate. FWD may update the contents of the Policy Data

Page from time to time.

!Policy Year"refers to a period of twelve (12) months from the Effective Date of this Policy and every succeeding twelve

(12) month period thereafter.

!Premium Charge"refers to the Premium Charge as defined in Section 14 Charges.

!Regular Premium"refers to the scheduled premium payable for this Policy as shown in the Policy Data Page.

!Regular Top-Up Premium"refers to the scheduled additional premium for this Policy which is payable by the Owner in

addition to and at the same time as the Regular Premium.

!Sales Illustration"refers to the form attached to the Policy which provides information to the Owner about the

product and its B enefits. The Sales Illustration illustrates how the Death Benefit and the Total Account Value vary with

assumed investment return rates over specified Policy Years.

!Supplementary Benefit/s"refers to additional Benefits purchased separately from the Basic Plan to enhance or modify

the terms of this Policy. Supplementary Benefit/s if any and the ir corresponding Form Number /s are shown in the

Policy Data Page.

!Top-Up Premium

"refers to the sum of any Regular Top-Up Premium paid and any Lump Sum Top-Up Premium paid.

!Total Account Value"refers to the total of all Account Values per Fund applicable to this Policy. The Total Account

Value on any Valuation Date is determined and calculated as the Unit Price of each Fund for such Valuation Date

multiplied by the number of Units in the Account Value corresponding to such Fund.

!Unit"refers to the unit of ownership in the Investment Fund.

!Unit Price"refers to the value of a unit of a given Fund determined pursuant to Section 18 Funds. This is the basis for

purchasing Unit/s of the Fund/s as well as for cancelling Unit/s from such Fund/s.

!Valuation Date" refers to the date wherein FWD calculates the Unit Price/s of a Unit of the Fund/s applicable to this

Policy.

!You", !Your", !I", and !My"refers to the Owner of this Policy.

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General Provisions

1. ENTIRE INSURANCE CONTRACT

This Policy Contract including the Application Form, the Sales Illustration, the Policy Data Page and attached

Supplementary Benefit/s if any together with any endorsements made by FWD shall constitute this Policy. Statements

by the Insured, or on his or her behalf, shall be considered as representations and not warranties. Any form that may be

issued at any time during the life of this Policy also becomes part of this Policy.

Only the President and Chief Executive Officer or officers duly authorized in writing by FWD have authority to modify

this Policy. Any such modification must be in writing and duly signed by the authorized officer.

2. EFFECTIVITY OF THE POLICY

This Policy becomes effective only upon the payment of the initial Regular Premium and any Regular Top-Up Premium

and this Policy#s delivery to the Owner while the Insured is alive and in good health. The Effective Date of this Policy

shall be used to determine Premium Due Dates, Monthly Anniversaries, Policy Years and Policy anniversaries.

3. OWNERSHIP

While the Insured is alive, the Owner can exercise every right, title, interest and privilege given by this Policy and its

Supplementary Benefit/s if any or allowed by FWD even without the consent of any revocable Beneficiary. In case the

Owner dies before the Insured, every right, title and interest shall automatically vest to the Insured.

However, the written consent of every designated irrevocable Beneficiary while alive must be obtained by the Owner in

order to exercise any right under this Policy.

4. NON-PARTICIPATING

This Policy does not participate in any surplus distribution of FWD. This Policy participates only in the performance of

the Investment Fund/s to which the coverage of this Policy is linked.

5. CURRENCY AND PLACE OF PAYMENT

All amounts payable either to or by FWD in relation to this Policy and Supplementary Benefit/s if any will be in the

currency stated in the Policy Data Page.

Article 1250 of the Civil Code of the Philippines (Republic Act No. 386) which reads in part:

"In case an extraordinary inflation or deflation of the currency stipulated should supervene, the value of the currency at

the time of establishment of the obligation shall be the basis of payment."

is understood and agr eed not to apply to any payments made or to be made either to or by FWD. All amounts payable

by FWD will be paid only in the Philippines. This Policy will be governed by and interpreted according to Philippine law.

6. COOLING OFF PERIOD

This Policy and/or Supplementary Benefit /s if any may be cancelled by the Owner's written request to FWD within

fifteen (15) days after receipt of this Policy. This Policy is considered delivered to and deemed received by the Owner on

the date shown in the acknowledgement receipt when it is delivered via email, or at the postal address shown in the

Application Form and received by a person of suitable age and competence then present therein. This Policy shall be

considered as received within ten (10) days from the date of delivery by FWD if delivered by post.

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On such cancellation, the amount refundable shall be the sum of:

i. Premium Charges and Insurance Charges; plusii. the Total Account Value calculated based on the Unit Price/s of the relevant Fund/s, as of the Next Valuation

Date following the receipt of written request for cancellation of this Policy.

If a claim for any Benefit has been received by FWD at any of its offices, no refunds can be made under this provision.

7. ASSIGNMENT

FWD is not bound by any assignment of this Policy unless duly endorsed on this Policy. FWD assumes no responsibility

for the effect, sufficiency or validity of any assignment. FWD has the right not to endorse any reassignment by any

assignee.

8. MISSTATEMENT OF AGE AND/OR SEX

If the age and/or sex of the Insured has been misstated, the Insurance Charges deducted from the Total Account Value

shall be adjusted using the correct age and/or sex, applicable risk class and applicable Cost of Insurance rates of this

Policy.

If at the correct age and/or sex, the Insured is not eligible for coverage, this Policy and its Supplementary Benefit/s if

any shall be terminated and the liability of FWD shall be limited to a refund of:

i. Premium Charges and Insurance Charges; plusii. the Total Account Value calculated based on the Unit Price/s of the relevant Fund/s, as of the Next Valuation

Date following FWD#s termination of this Policy due to misstatement of age/sex.

9. INCONTESTABILITY

Except for non-payment of Regular Premiums, or if the Total Account Value is insufficient to cover the Insurance

Charges, or any other grounds recognized by law or jurisprudence, FWD cannot contest this Policy after it has been in

force during the lifetime of the Insured for two (2) consecutive years from the Effective Date of this Poli cy or approval

date of its last reinstatement, whichever is later. The contestability period of two (2) years shall also apply to any

increase in Death Benefit due to payment of Top-Up Premium/s if any.

Where the initial coverage and/or any increase in the Death Benefit is not payable, the liability of FWD corresponding

to the excluded coverage shall be limited to a refund of:

i. Premium Charges and Insurance Charges; plus

ii. the Total Account Value calculated based on the Unit Price /s of the relevant Fund/s as of the Next Valuation Datefollowing FWD#s termination of such excluded coverage on this Policy.

10.SUICIDE

FWD will not be liable for the Benefit Amount/s payable under any and all Benefits if the Insured dies by suicide within

two (2) years from the:

i. Effective Date or approval date of last reinstatement of this Policy; andii. Effective Date of the increase in Death Benefit or approval date of reinstatement with respect to such increase, if

any;

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Provided, however, that suicide committed in a state of Insanity will be compensable regardless of the date of

commission.

Where suicide is not compensable pursuant to this section, the liability of FWD shall be limited to a refund of:

i. Premium Charges and Insurance Charges; plusii. the Total Account Value calculated based on the Unit Price/s of the relevant Fund/s as of the Next Valuation Date

following FWD#s termination of this Policy.

11.BENEFICIARY

The Beneficiaries are the surviving persons designated to receive the proceeds of this Policy upon the death of the

Insured. Unless otherwise changed, the Beneficiaries are as designated in the Application Form.

If all the Beneficiaries are designated as "revocable", the Owner may delete any Beneficiary or designate new

Beneficiaries and exercise any and all other rights, interests and privileges under this Pol icy while in force. I f any

Beneficiary is designated as "irrevocable", the consent of all such irrevocable Beneficiaries while alive is required before

the Owner can exercise any and all rights, interests and privileges under this Policy.

Beneficiaries are classified either as a primary Beneficiary or as a contingent Beneficiary. Surviving Beneficiaries in the

same Beneficiary classification share equally in the Death Benefit proceeds for that Beneficiary classification, unless

otherwise specified.

The Death Benefit proceeds are payable to the primary Beneficiaries surviving at the death of the Insured. If no primary

Beneficiaries survive the Insured, the Death Benefit proceeds are payable to the contingent Beneficiaries surviving at

the death of the Insured.

If no contingent Beneficiaries survives the Insured, the Death Benefit proceeds are payable to the Owner, if alive,

otherwise, to any of the following surviving relations of the Insured as substitute Beneficiaries in the order named:

i. Legal spouse; thenii. Legitimate child / children; theniii. Illegitimate child / children; theniv. Parent/s; thenv. Brother/s / Sister/s of the full blood; thenvi. Brother/s / Sister/s of the half blood.

If the primary Beneficiaries, contingent Beneficiaries, Owner, and substitute Beneficiaries do not survive the Insured,

the Death Benefits proceeds are then payable to the estate of the Insured.

The Owner can change any Beneficiary or Beneficiary designation by written notice satisfactory to FWD, together with

the written consent of all irrevocable Beneficiaries while alive, subject to any assignment of this Policy in the records of

FWD. FWD assumes no responsibility for the validity of any such written notice.

A receipt for any Death Benefit proceeds under this Policy, signed by all Beneficiaries designated either in this Policy or

in accordance with this provision or by a duly authorized representative, will be a good and valid discharge to FWD. The

receipt will be final and conclusive evidence that such Death Benefit proceeds have been duly paid to and received by

those lawfully entitled to them, and that all claims and demands against FWD with respect to them have been fully

satisfied.

12.PREMIUMS

Payment of Regular Premium

Regular Premium s shall be payable in accordance with the Schedule of Premiums. The Regular Premium, less any

applicable Premium Charges and any Contract Debt, will be used to purchase Units at Unit Price/s of relevant Fund/s at

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the Next Valuation Date following the date of receipt of such Regular Premium, in accordance with the Fund Allocation

Rate specified in the Policy Data Page or in any subsequent endorsement recorded with FWD.

Grace Period

All Regular Premiums, except for the Initial Regular Premium, must be paid not later than thirty-one (31) days after its

due date. Any outstanding Insurance Charges will be deducted from any proceeds that may become payable during the

thirty-one (31) days Grace Period.

If Regular Premium payment is not received at the end of the thirty-one (31) days Grace Period and this Policy has a

Total Account Value, this Policy will continue to be in force for the same Death Benefit for as long as the Total Account

Value is sufficient to pay for the Premium Charges and Insurance Charges. If this Policy's Total Account Value is

insufficient to pay for the Premium Charges and Insurance Charges , and Insurance Charges were not paid through

Contract Debt, this Policy and Supplementary Benefit/s if any shall immediately terminate at the end of the thirty-one

(31) days Grace Period. Any balance remaining in the Total Account Value of this Policy shall be returned to the Owner.

Payment of Regular Top-Up Premium

Regular Top-Up Premium, if elected by the Owner, will be due together with the Regular Premium. Regular Top-Up

Premium, less any applicable Premium Charges and any Contract Debt, will be used to purchase Units at Unit Price /s of

relevant Fund/s at the Next Valuation Date following the date of receipt of such Regular Top-Up Premium, in

accordance with the Fund Allocation Rate specified in the Policy Data Page or in any subsequent endorsement recorded

with FWD.

The Minimum Death Benefit will be automatically increased by 125% of each Regular Top-Up Premium paid. Regular

Top-Up Premiums do not increase the Benefit Amount of the Supplementary Benefit/s if any payable under this Policy.

Payment of Lump Sum Top-Up Premium

While this Policy is in force, the Owner may request for and upon approval by FWD pay a Lump Sum Top -Up Premium

at any time. Such Lump Sum Top-Up Premium, less any applicable Premium Charges and any Contract Debt, will be

allocated and applied in accordance with the Owner's request on FWD's appropriate form to purchase Units at Unit

Price/s of relevant Fund/s at the Next Valuation Date subject to FWD's written approval and prevailing administrative

rules and procedures at the time of application.

Lump Sum Top -Up Premium shall be subject to FWD#s prevailing administrative rules on the minimum and maximum

requirements for Lump Sum Top-Up Premium. Each Lump Sum Top-Up Premium will automatically increase the

Minimum Death Benefit by 125% of such Lump Sum Top-Up Premium amount paid. Lump Sum Top -Up Premiums do

not increase the Benefit Amount of any attached Supplementary Benefit/s. FWD reserves the right to require evidence

of insurability or to decline such payment of Lump Sum Top-Up Premium.

Premium Holiday

Premium Holiday is allowed as long as the Total Account Value is sufficient to cover the Premium Charges and

Insurance Charges when they fall due. This Policy can go into Premium Holiday:

i. automatically when Regular Premium/s and any Regular Top-Up Premium/s remains unpaid at the end of the

Grace Period; or

ii. upon the Owner's request.

After the Premium Holiday period, the Owner may resume payment of t he Regular Premium/s and any Regular Top -Up

Premium/s due.

Subject to Grace Period and Contract Debt provision s, the Total Account Value may be come insufficient to cover the

Premium Charges and Insurance Charges during the Premium Holiday period and may result to the termination of thisPolicy.

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13.REINSTATEMENT

If this Policy terminates due to insufficient Total Account Value, this Policy may be reinstated within three (3) years

from the date of such termination provided that (i) the Insured is alive at the time of application and (ii) this Policy has

not been surrendered for its Total Account Value.

To apply for reinstatement, FWD requires the following:

i. a written application for reinstatement using the appropriate form; and

ii. satisfactory evidence of insurability; and

iii. receipt of payment of all amounts necessary to put this Policy in force.

This Policy shall be reinstated on the date on which FWD determines that the requirements have been met .

Subject to Section 9 Incontestability, any reinstated Policy will only cover loss or insured events that occurred after the

date of approval of the reinstatement.

14.CHARGES

Unless otherwise stated and with at least one (1) month prior notice to the Owner , all charges and/ or payments in this

section are subject to revision. A general change to charges and/or payments requires prior approval of the Insurance

Commission.

Premium Charges

The Premium Charges consist of the following:

i. Regular Premium Charge. This is determined by multiplying the Regular Premium by the Premium Charge rate.

The Regular Premium Charge will be deducted as follows:

a.If the Regular Premium is paid in accordance with the Schedule of Premiums, the Regular Premium Charge will

be deducted from the Regular Premium amount received by FWD before purchasing Units at Unit Price /s of

the relevant Fund/s.

b.If the Regular Premium is not paid in accordance with the Schedule of Premiums and this Policy has sufficient

Total Account Value, the Regular Premium Charge will be charged proportionately to the Account Value of

each Fund in which the Owner has invested in, subject to the Grace Period provision in Section 12 Premiums.

Any premiums received after the Regular Premium Charge has been deducted from the Total Account Value

and before purchasing Units at Unit Price/s of relevant Fund/s shall be allocated to pay for (i) any RegularPremium/s that fell due and remains unpaid, (ii) Regular Premium for the next Premium Due Date, less any

applicable Premium Charge and less any Contract Debt, if such premiums were received before the end of

the Grace Period of such Premium Due Date, and (iii) Top-Up Premium less any applicable Premium Charge.

c.If the Regular Premium is not paid in accordance with the Schedule of Premiums and this Policy has insufficient

Total Account Value to cover the Regular Premium Charge, th is Policy will terminate subject to the Grace

Period provision in Section 12 Premiums.

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ii. Regular Top-Up Premium Charge. This is determined by multiplying the Regular Top-Up Premium by the

Premium Charge rate. The Regular Top-Up Premium Charge shall be deducted from the Regular Top-Up Premium

amount received by FWD before purchasing Units at Unit Price/s of the relevant Fund/s.

iii. Lump Sum Top -Up Premium Charge. This is determined by multiplying the Lump Sum Top-Up Premium by the

Premium Charge rate. The Lump Sum Top-Up Premium Charge shall be deducted from the Lump Sum Top -Up

Premium amount received by FWD before purchasing Units at Unit Price/s of the relevant Fund/s.

Insurance Charges

Subject to the Contract Debt provision in this section, the Insurance Charges will be deducted each month from the

Total Account Value at the Unit Price on the Next Valuation Date after the Monthly Anniversary. Insurance Charges will

be charged to each Fund in proportion to the Account Value of each Fund in which the Owner has invested in. The

Insurance Charges consist of the following:

i. Cost of Insurance of the Basic Plan. This is determined by multiplying the difference between the Death Benefitand the Total Account Value by the Cost of Insurance rate of the Basic Plan as determined by FWD from time to

time. The Cost of Insurance rate of the Basic Plan is determined by the attained age and risk class.

ii. Cost of Insurance of the Supplementary Benefit/s if any. This is determined by multiplying the Benefit Amount of

the Supplementary Benefit/s if any by the Cost of Insurance rate of the corresponding Supplementary Benefit/s if

any as determined by FWD from time to time. The Cost of Insurance rate of the Supplementary Benefit/s if any is

determined by the attained age and risk class.

Surrender Charges

No surrender charges will be applied on any partial or full withdrawals from the Total Account Value.

Other Charges

Subject to the Insurance Commission's approval, FWD reserves the right to impose additional charges by giving the

Owner at least one (1) month prior written notice.

Contract Debt

This provision on Contract Debt applies provided that during the first three (3) years of this Policy:

i. Regular Premiums and Regular Top-Up Premiums are paid before the end of the Grace Period; andii. No withdrawals are made against the Total Account Value.

If the Total Account Value is insufficient to cover the Insurance Charges, FWD will create a Contract Debt without

interest in FWD#s favor equal to the cumulative Insurance Charges not paid from the Total Account Value. The Contract

Debt shall be paid by deducting its amount from any Regular Premium paid after deduction of any applicable Regular

Premium Charge and/or from any Top-Up Premium paid after deduction of any applicable Top-Up Premium Charge.

15. DEATH BENEFIT

While this Policy is in force and subject to its terms and conditions, FWD shall pay the Death Benefit less any Contract

Debt.

The Death Benefit payable is equal to the largest of:

i. The current Sum Assured; or

ii. Minimum Death Benefit; or

iii. Total Account Value.

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The Minimum Death Benefit shall at no time be less than:

i. 500% of the Regular Premium; plus

ii. 125% of all Top-Up Premiums paid; less

iii. 125% of all partial withdrawals made.

The Total Account Value is calculated based on the Unit Price/s of each of the relevant Fund/s as of the Next Valuation

Date following FWD#s receipt of written notice of the Insured's death.

16. CLAIM SETTLEMENT

For settlement of claims under this Policy, this Policy must be presented at any of FWD's duly designated offices

together with due proof for the claim and all other requirements satisfactory to FWD.

FWD must receive the requirements within ninety (90) days from the date of claim. Failure to submit the requirements

shall not invalidate or reduce the claim if it is shown not to have been reasonably possible to give such notice or proof

and that such was given as soon as was reasonably possible.

17. TERMINATION OF THE POLICY

This Policy shall terminate on the earliest of the following:

i. at the end of the Grace Period if the Total Account Value of this Policy becomes insufficient to pay for the Premium

Charges and Insurance Charges in accordance with the Grace Period in Section 1 2 Premiums, except when Contract

Debt is in effect;

ii. the date of approval by FWD of the Policy#s full surrender as provided under Section 20 Surrender and Withdrawals;

iii. on the date of death of the Insured subject to Section 15 Death Benefit; or

iv. the Expiry Date of this Policy.

If this Policy terminates under (i), (ii) and (iv) above, the Total Account Value if any, less Contract Debt if any, shall be

returned to the Owner based on the Unit Price/s of the relevant Fund/s, as of the Next Valuation Date following the

termination of this Policy.

18. FUNDS

Investment Funds

FWD created and maintains Variable Unit Linked Investment Funds, where the investment portion of the premium

under this Policy shall be allocated. The investment management of each Fund will be at FWD#s full discretion. The

investment policy of each Fund may be changed subject to the approval of the Insurance Commission. The Fund/s and

all its assets shall be and remain in the absolute beneficial ownership of FWD on behalf of or for the account of the

Owner.

Each Fund is denominated in Units of equal value, and the value of each Unit of a given Fund may change from time to

time depending on market conditions.

FWD may do the following subject to the approval of the Insurance Commission:

i. create new Fund/s and all the provisions of this Policy shall apply to the new Fund/s;

ii. delegate all or any of FWD's discretion and investment powers to any person and/or entity on such terms as FWD

determines;

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iii. withdraw or change the Fund/s being offered by FWD. In such event, FWD will give the Owner a written notice at

least three (3) months in advance of FWD's intent to withdraw or change the Fund/s and request the Owner to

instruct FWD to transfer the balance of the Investment Fund/s into another Investment Fund/s of FWD. If FWD

does not receive any instruction from the Owner within the time period specified in FWD's notice, FWD will

surrender all the outstanding Units of the Fund/s being withdrawn. Proceeds from the withdrawn Fund/s will bedistributed in the following order:

a. allocate it to the remaining Fund/s in which the Owner has Account Value balances, in proportion to this

Policy's Account Values in such Fund/s; or

b. return it to the Owner if there are no remaining balances in the Fund/s in which the Owner has Account Value

balances.

Valuation of Funds and Units

The valuation of the Fund/s shall be done by FWD on a daily basis. Net asset value will be determined by using market

prices of the underlying funds or the quoted prices of direct investments, allowing for fund management fee, any fund

administration charge, purchase and sell expense, tax or other statutory levy, deposit and withdrawal made since the

last Valuation Date. The Unit Price of each Fund will be determined by dividing the Fund#s net asset value by the

corresponding number of outstanding Units of such Fund.

Deductions from the Funds

FWD shall deduct from each Investment Fund the following:

i. all expenses incurred by FWD directly or indirectly upon purchase and sale of investments;

ii. all expenses incurred by FWD directly or indirectly in managing, maintaining and valuing assets in such Fund;

iii. any tax or other statutory levy attributable to the investment income and capital gain on assets of the Fund;

iv. Fund Management Charge, subject to FWD's sole discretion to change the Fund Management Charge rate by giving

the Owner at least three (3) months written notice; andv. all other additional Charges as determined by FWD subject to approval of the Insurance Commission.

Account Value per Fund

For this Policy, the Account Value correspon ding to a Fund is the net value of that Fund#s Units allocated to this Policy

through such Account Value at the Unit Price on the Next Valuation Date, after adjusting for the following transactions

net of fees:

i. increased by the amount of premiums allocated and applied to such Account Value;

ii. increased by any amount transferred from another Account Value to such Account Value;

iii. decreased by any amount transferred to another Account Value from such Account Value;

iv. decreased by any amounts withdrawn from such Account Value; andv. decreased by the amount of any monthly deductions and any other Charges made by FWD from such Account

Value.

This Policy shall have an Account Value corresponding to each Fund the Owner has opted to invest in.

Exceptional Circumstances

Where for any reasons other than payment of the Death Benefit under this Policy, the creation and/or cancellation of

Units in any Account Value becomes necessary and FWD in its absolute discretion deems the circumstances to be

prejudicial to the interests of its policyholders, the creation and/or cancellation of Units in any Account Value shall be

deferred for a period not exceeding six (6) months from the date the creation and/or cancellation would in normal

circumstances have taken place.

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Exceptional circumstances include, but are not be limited to:

i. the closure or suspension of dealings on recognized stock exchanges;

ii. suspension of valuation or dealings of the underlying Investment Funds; or

iii. periods when the assets in an Investment Fund cannot be valued or invested according to its investment objective.

19. DEFERMENT AND LIMITATION

For valid reasons solely determined by FWD, the valuation, creation or cancellation of Units of the Investment Fund/s

may be temporarily suspended or deferred.

FWD may also limit the number of Units of an Investment Fund that can be cancelled on any Valuation Date (whether

for this Policy or otherwise) as FWD may determine from time to time. In such case, Units of the Investment Fund

allocated to this Policy shall be cancelled on a pro rata basis. Units not cancelled will be carried forward for cancellation,

subject to the same limitation, on the Next Valuation Date of the Investment Fund.

20. SURRENDER AND WITHDRAWALS

The Owner may surrender this Policy for its Total Account Value while this Policy is in force. This Policy will terminate at

the effective date of such surrender.

The Owner may withdraw part of the Total Account Value of this Policy while this Policy is in force. Such transaction is

referred to as withdrawal.

The following conditions shall apply:

i. Owner must request for surrender or partial withdrawal using the appropriate form prescribed by FWD.

ii. The Owner#s request shall be subject to FWD

#s prevailing administrative rules and procedures at the time of

application for surrender or withdrawal.

iii. The amount of withdrawal must not be less than the minimum amount determined by FWD from time to time.iv. If there is more than one Investment Fund and the Owner does not specify the Investment Fund/s from which

the amount requested is to be withdrawn, then the withdrawal amount shall be taken proportionately from each

Investment Fund.

v. The Total Account Value immediately after the request for partial withdrawal must not be less than the minimumamount specified by FWD from time to time; otherwise, the Owner must fully surrender this Policy. The

withdrawal amount with respect to a Fund must not exceed this Policy#s Account Value for such Fund.

vi. Any amount surrendered or partially withdrawn from a Fund shall be deducted from the Account Value of suchFund at its Unit Price determined at the Next Valuation Date following the date that FWD approves the Owner's

request.

vii. FWD will automatically reduce the Minimum Death Benefit by 125% of the amount of the partial withdrawal,subject to the Minimum Death Benefit requirement of the Insurance Commission.

21. FUND SWITCH

While this Policy is in force, the Owner may at any time request FWD to switch all or part of the Account Value with

respect to any of the Fund/s under this Policy, to one or more of the other Fund/s. Such transaction is referred to as

Fund Switching.


i. Owner must request for Fund Switching using the appropriate form prescribed by FWD.

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ii. The Owner#s request for Fund Switching shall be subject to prevailing administrative rules and procedures of FWD

at the time of application for Fund Switching.

iii. The amount to be switched must not be less than the minimum amount as determined by FWD from time to time.

iv. Fund Switching may be allowed without a Fund Switching Charge for up to six (6) times per Policy Year, provided

that the Fund Switch was requested through FWD#s online facility. If the Owner exceeds the maximum number of

allowed Fund Switching through FWD#s online facility or requests such Fund Switching other than through FWD#s

online facility, a Fund Switching Charge shall be deducted from the Total Account Value upon approval by FWD of

such Fund Switch. The Fund Switching Charge may change from time to time and shall be subject to FWD#s

prevailing administrative rules and procedures at the time of the Fund Switch.

v. Immediately after the Fund Switch, the Total Account Value must not be less than the minimum amount as

specified by FWD from time to time; otherwise, the Owner must withdraw the Total Account Value. The amount

switched from a particular Fund plus any Fund Switching Charge with respect to such Fund must not exceed the

Account Value corresponding to such Fund.

vi. The amount switched from a Fund will be deducted from the Account Value of such Fund at the Fund#s Unit Price

on the Next Valuation Date following the date the Owner's written request for such Fund Switching is approved by

FWD. The amount switched less any Fund Switching Charge will be applied to purchase Units at Unit Price/s of therespective Fund/s determined at the Next Valuation Date following such cancellation.

22. CHANGE OF FUND ALLOCATION RATE

While this Policy is in force, the Owner may, at any time, request FWD to change the Fund Allocation Rate under this

Policy.


i. Owner must request for change in Fund Allocation Rate using the appropriate form prescribed by FWD.

ii. The Owner#s request to change the Fund Allocation Rate shall be subject to prevailing administrative rules and

procedures at the time of application of the change in the Fund Allocation Rate.

iii. The Fund Allocation Rates to the selected Fund/s, when changed, must not be less than the minimum as

determined by FWD from time to time.

iv. The change will be effective at the Next Valuation Date following the date the Owner's request for such change in

allocation has been approved by FWD. Such change in the Fund Allocation Rate shall apply only to subsequent

allocations of the premiums to the Fund/s.

v. A fee for change in allocation may be charged, subject to FWD #s prevailing administrative rules and procedures atthe time of the change in allocation.

23. LOYALTY BONUS

While this Policy is in force, FWD may award a Loyalty Bonus payable at the end of the tenth (10th) Policy Year and on

every fifth (5th

) Policy anniversary thereafter. The Loyalty Bonus shall be a percentage of the average Total AccountValue over the past sixty (60) Monthly Anniversaries of this Policy, and such percentage shall be determined by FWD

from time to time. Any Loyalty Bonus payable wil l be made by crediting additional Units proport ionately to each

Account Value.

The Loyalty Bonus is non-guaranteed. If this Policy has been reinstated at any time during its lifetime, this Policy shall

not be eligible to receive the Loyalty Bonus after the approval date of last reinstatement.

24. DISCLOSURES OF CONFLICT OF INTEREST

The fund manager makes investment decisions for the Investment Fund/s based on the circumstances of each

Investment Fund and independently of decision made for other Investment Fund/s. The fund manager may make the

same

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investments for an Investment Fund and one or more other Investment Fund/s. This may create a conflict of interest if

there is only a limited amount of the investment available, or if the investment is purchased at different times or at

different prices for different Investment Fund/s. If this happens, the fund manager will attempt to allocate the

investment fairly between the Investment Fund and other Investment Fund/s. Factors the fund manager considers in

allocations include the size and timing of previous allocations, whether the security meets the objectives of therespective portfolios, the relative portfolio size and the rate of growth of the portfolios.

25. LIMITATION OF ACTION

No legal action on this Policy may be filed after five (5) years from the time the cause of action accrues.

IMPORTANT NOTICE

The Insurance Commission, with offices in Manila, Cebu and Davao, is the government office in charge of the

enforcement of all laws related to insurance and has supervision over insurance companies and intermediaries. I t is

ready at all times to assist the general public in matters pertaining to insurance. For any inquiries or complaints, please

contact the Public Assistance and Mediation Division (PAMD) of the Insurance Commission at 1071 United Nations

Avenue, Man ila with telephone numbers +632-5238461 to 70 and email address [email protected]. The

official website of the Insurance Commission is www.insurance.gov.ph.

THIS IS NOT A DEPOSIT PRODUCT. EARNINGS ARE NOT ASSURED AND PRINCIPAL AMOUNT

INVESTED IS EXPOSED TO ANY FINANCIAL RISK. THIS PRODUCT CANNOT BE SOLD TO YOU UNLESS

ITS BENEFITS AND RISKS HAVE BEEN THOROUGHLY EXPLAINED. IF YOU DO NOT FULLY

UNDERSTAND THIS PRODUCT, WE STRONGLY RECOMMEND THAT YOU DO NOT PURCHASE OR

INVEST IN IT.

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This Accidental Death Supplementary Benefit is attached to Policy Number 50028210 and

with Effective Date on June 09, 2015.

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Form Number: ADBVUL.07.2014 Page | 2

Supplementary Benefit:

Accidental DeathThis Supplementary Benefit applies only if the Form Number is shown on the Policy Data Page of the Policy. The Benefit

Amount of this Supplementary Benefit is also shown on the Policy Data Page.

DEFINITIONS

!Accident"or !Accidental" refers to any unforeseen and unexpected event or contiguous series of events, caused by

violent, external and visible means and which causes the death or Injury or Injuries solely and independently of any

other means.

!Condition"refers to any type of illness, specific Injury, disease or infirmity including all underlying or related conditions

and any manifestation thereof, whether in one (1) or more than one body system.

!Injury"or !Injuries" refers to Accidental bodily damage occurring while this Supplementary Benefit is in force caused

solely and dir ectly by external, violent and Accidental means and independent of all other causes and evidenced by a

visible contusion or wound on the exterior of the body except in the case of drowning or of internal injury revealed by

an autopsy.

!Insured"refers to the person covered by this Supplementary Benefit and whose name is shown on the Policy Data

Page.

!Owner"refers to the Owner of the Policy whose name is shown on the Policy Data Page.

!Pre-Existing Condition"refers to a Condition:

i. For which the Insured received medical advice, consultation or treatment, orii. Whose signs or symptoms are evident, or should have been evident to the Insured, even if the Insured did not seek

medical advice, consultation or treatment for it prior to the Effective Date of this Supplementary Benefit or date of

effectivity of its last reinstatement, if any.

!Public Holiday"refers to a day declared under Philippine law and observed within Philippine Standard Time (GMT+8)

as a Regular Holiday or as a Special Non-Working Holiday. The nineteen (19) Public Holidays in the Philippines covered

under this Supplementary Benefit are as follows:

Regular Hol idays:

i. New Year#s Day - observed on January 1; date is fixedii. Araw ng Kagitingan (Day of Valour) - observed on April 9; date is fixediii. Maundy Thursday - date declared annually by the President of the

Philippines

iv. Good Friday - date declared annually by the President of thePhilippines

v. Labor Day - observed on May 1; date is fixedvi. Independence Day - observed on June 12; date is fixedvii. Eid#l Fitr (End of the fasting month of Ramadan) - date declared annually by the President of the

Philippines

viii.National Heroes#Day - date declared annually by the President of thePhilippines

ix. Eid#l Adha (Feast of the Sacrifice) - date declared annually by the President of the

Philippines

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x. Andres Bonifacio Day - observed on November 30; date is fixedxi. Christmas Day - observed on December 25; date is fixedxii. Jose Rizal Day - observed on December 30; date is fixed

Special Non-Working Holidays:

i. Chinese New Year - date declared annually by the President of thePhilippines

ii. Black Saturday - date declared annually by the President of thePhilippines

iii. Ninoy Aquino Day - observed on August 21; date is fixediv. All Saints#Day - observed on November 1; date is fixedv. All Souls#Day - observed on November 2; date is fixedvi. Christmas Eve - observed on December 24; date is fixedvii. New Year#s Eve - observed on December 31; date is fixed

1. EFFECTIVE DATE

Unless otherwise shown on this Supplementary Benefit, the Effective Date of this Supplementary Benefit shall be the

same as the Effective Date of the Policy.

2. BENEFIT

FWD will pay to the Beneficiary the Benefit Amount for this Supplementary Benefit if the Insured dies within one

hundred eighty (180) days from an Accident and such Accident occurs before the Expiry Date of this Supplementary

Benefit. If such Accident occurs during a Public Holiday in the Philippines, FWD will pay to the Beneficiary three (3)

times the Benefit Amount for this Supplementary Benefit.

3. MAXIMUM COVERAGE

The aggregate Benefit Amount of this Supplementary Benefit and all similar Benefits of the Insured under all FWD

Policies shall not exceed the maximum amount offered by FWD, as may be determined by FWD at the time of

application. Any excess coverage shall be void and any proportionate Cost of Insurance of this Supplementary Benefit

corresponding to such excess deducted from the Total Account Value shall be refunded without interest .

4. MISSTATEMENT OF AGE

If the age of the Insured has been misstated, the Cost of Insurance of this Supplementary Benefit deducted from the

Total Account Value shall be adjusted using the correct age and risk class. If at the correct age and risk class, the Insured

is not eligible for coverage, this Supplementary Benefit shall be terminated and the liability of FWD shall be limited to a

refund of the Cost of Insurance deducted from the Total Account Value for this Supplementary Benefit.

5. COST OF INSURANCE

The Cost of Insurance for this Supplementary Benefit shall be deducted in advance on each Monthly Anniversary from

the Total Account Value until the Expiry Date of this Supplementary Benefit.

The Cost of Insurance is determined by multiplying the Benefit Amount of this Supplementary Benefit by the Cost of

Insurance rate of this Supplementary Benefit as determined by FWD from time to time. The Cost of Insurance rate is

determined by the Insured's attained age and risk class.

The Cost of Insurance rates used to determine the Cost of Insurance for this Supplementary Benefit are guaranteed

until its Expiry Date.

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6. RENEWAL

This Supplementary Benefit may be renewed until its Expiry Date as shown in the Policy Data Page without evidence ofinsurability. The Cost of Insurance of this Supplementary Benefit shall be deducted from the Total Account Value at

FWD#s Cost of Insurance rate at the time of renewal, subject to FWD#s right to decline renewal on any renewal date. A

notice of any change in the basis for the Cost of Insurance of this Supplementary Benefit will be sent to the Owner at

least forty-five (45) days before the next Policy anniversary date.

7. DEDUCTION OF UNPAID INSURANCE CHARGES

Any Contract Debt shall be deducted from the proceeds of this Supplementary Benefit.

8. NON-PARTICIPATION

This Supplementary Benefit does not participate in any surplus distribution of FWD.

9. EXCLUSIONS

No benefit will be payable under this Supplementary Benefit if death of the Insured by Accident results directly or

indirectly, wholly or partly, from any of the following circumstances:

i. suicide or attempted suicide while sane or insane, or any self-inflicted injury or any sickness; orii. murder, provoked assault, or any attempt thereat; oriii. war, invasion, act of foreign enemy, hostilities or warlike operations (whether war be declared or not), civil war,

mutiny, rebellion, revolution, insurrection, military or usurped power, and civil commotion assuming the

proportion of or amounting to a popular uprising. This exclusion shall not be affected by any endorsement

which does not specifically refer to it in whole or in part; or

iv. service in or being attached to the naval forces, military forces, air forces, the police forces or the opposing forces;or

v. participation in any fight or brawl by the Insured, or assault or death with provocation from the Insured; orvi. any violation or attempted violation of the law or resistance to arrest; orvii. accident caused by the effect of alcohol or improper use of drugs; orviii. any bodily or mental infirmity, disease or sickness, or infection other than infection occurring at the same

time with or because of an Accidental cut or wound; or

ix. poison, gas or fumes voluntarily taken; orx. atomic explosion, nuclear fission or radioactive matter, chemical or biological contamination; orxi. entering, leaving, operating, servicing, or being in, on or about any aerial or submarine device or conveyance

except as a passenger in an aircraft provided by a commercial passenger airline; or

xii. involvement in any dangerous sports or hobbies such as racing on wheels, glider flying, sailing or other hobbieswhich are comparably dangerous and risky unless sports risk premium is paid; or

xiii. cosmetic or plastic surgery, any dental work, treatment or surgery, eye or ear examination, except to theextent that any of them is necessary for the repair or alleviation of damage to the Insured #s person caused solely by

Accident; or

xiv. any Act of Terrorism or any action taken in controlling, preventing, suppressing, or in any way relating to, any Actof Terrorism.

10. REQUIREMENTS OF CLAIM

To make a claim, FWD must receive the following requirements:

i. Claimant#s Statement;

ii. Attending Physician#s Statement (APS);

iii. Medical Certificate;

iv. Medical Records; andv. Evidence of Accident.

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FWD must receive the requirements within ninety (90) days from the date of death of the Insured due to Accident.

Failure to submit within the time required shall not invalidate or reduce any claim if it can be shown that it was not

practicable to submit the requirements and its submission was made as soon as it was reasonably possible.

FWD reserves the right to require additional documents or evidences to help assess the validity of the claim at the

Owner#s expense. FWD shall have the right to make an autopsy, unless forbidden by law.

11. TERMINATION

This Supplementary Benefit shall automatically terminate on the earliest of the following:

i. The Total Account Value becomes insufficient to cover the Cost of Insurance of this Supplementary Benefit , exceptwhen Contract Debt is in effect;

ii. On the date following FWD#s approval of the Owner#s written request for termination of this SupplementaryBenefit;

iii. The Expiry Date of this Supplementary Benefit; oriv. Termination of the Policy.

Termination of this Supplementary Benefit shall not prejudice any claim arising prior to such termination.


No legal action on this Supplementary Benefit may be filed after five (5) years from the time the cause of action accrues.

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This Critical Illness Supplementary Benefit is attached to Policy Number 50028210 and

with Effective Date on June 09, 2015.

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Form Number: CIBVUL.07.2014 Page | 2

Supplementary Benefit:

Critical Illness

This Supplementary Benefit applies only if the Form Number is shown on the Policy Data Page of the Policy. The Benefit

Amount of this Supplementary Benefit is also shown on the Policy Data Page.

DEFINITIONS

!Accident"or !Accidental" refers to any unforeseen and unexpected event or contiguous series of events, caused by

violent, external and visible means and which causes the death or Injury or Injuries solely and independently of any

other means.

!Condition" refers to any type of illness, specific Injury, disease or infirmity including all underlying or related

Conditions and any manifestation thereof, whether in one (1) or more than one body system.

!Critical Illness"refers to a Critical Illness defined under Section 13 Definition of Covered Critical Illnesses.

!Injury"or !Injuries"refers to Accidental bodily damage occurring while this Supplementary Benefit is in force caused

solely and dir ectly by external, violent and Accidental means and independent of all other causes and evidenced by a

visible contusion or wound on the exterior of the body except in the case of drowning or of internal injury revealed by

an autopsy.

!Insured"refers to the person covered by this Supplementary Benefit and whose name is shown on the Policy Data

Page.

!Pre-Existing Condition"refers to a Condition:

i. For which the Insured received medical advice, consultation or treatment, orii. Whose signs or symptoms are evident, or should have been evident to the Insured, even if the Insured did not seek

medical advice, consultation or treatment for it,

prior to the Effective Date of this Supplementary Benefit.

1. EFFECTIVE DATE

Unless otherwise shown on this Supplementary Benefit, the Effective Date of this Supplementary Benefit shall be the

same as the Effective Date of the Policy.

2. BENEFIT

FWD will pay the Benefit Amount for this Supplementary Benefit if the Insured is diagnosed to be suffering from a

Critical Illness under Section 13 Definition of Covered Critical Illnesses, and provided that:

i. The Critical Illness occurs or manifests as a first incidence before the Expiry Date of this Supplementary Benefit, and

ii. The diagnosis is confirmed by a Medical Practitioner appointed by FWD, and

iii. The Insured survives for at least fourteen (14) days following the diagnosis of such Critical Illness.

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The Benefit Amount, if payable, will be paid to the Owner. However, if the Owner is incompetent as determined in good

faith by FWD, the Benefit Amount will be payable to the Beneficiary as designated in the Policy.

No Benefit Amount will be payable for any diagnosis of a medical Condition not covered in Section 13 Definition of

Covered Critical Illnesses.

3. MAXIMUM COVERAGE

The aggregate Benefit Amount of this Supplementary Benefit and all similar Benefits of the Insured under all FWD

policies shall not exceed the maximum amount offered by FWD, as may be determined by FWD at the time of

application. Any excess coverage shall be void and any proportionate Cost of Insurance of this Supplementary Benefit

corresponding to such excess deducted from the Total Account Value shall be refunded without interest.

4. MISSTATEMENT OF AGE

If the age of the Insured has been misstated, the Cost of Insurance of this Supplementary Benefit deducted from the

Total Account Value shall be adjusted using the correct age and risk class. If at the correct age and risk class, the Insured

is not eligible for coverage, this Supplementary Benefit shall be terminated and the liability of FWD shall be limited to arefund of the Cost of Insurance deducted from the Total Account Value for this Supplementary Benefit .

5. COST OF INSURANCE

The Cost of Insurance for this Supplementary Benefit shall be deducted in advance on each Monthly Anniversary from

the Total Account Value until the Expiry Date of this Supplementary Benefit.

The Cost of Insurance is determined by multiplying the Benefit Amount of this Supplementary Benefit by the Cost of

Insurance rate of this Supplementary Benefit as determined by FWD from time to time. The Cost of Insurance rate is

determined by the Insured's attained age and risk class.

The Cost of Insurance rates used to determine the Cost of Insurance of this Supplementary Benefit are not guaranteed

until its Expiry Date.

6. RENEWAL

This Supplementary Benefit may be renewed until its Expiry Date as shown in the Policy Data Page without evidence of

insurability. The Cost of Insurance of this Supplementary Benefit shall be deducted from the Total Account Value at

FWD#s Cost of Insurance rate at the time of renewal, subject to FWD#s right to decline renewal on any renewal date. A

notice of any change in the basis for the Cost of Insurance of this Supplementary Benefit will be sent to the Owner at

least forty-five (45) days before the next Policy anniversary date.

7. DEDUCTION OF UNPAID INSURANCE CHARGES

Any Contract Debt shall be deducted from the proceeds of this Supplementary Benefit.

8. NON-PARTICIPATION

This Supplementary Benefit does not participate in any surplus distribution of FWD.

9. EXCLUSIONS

No bene fit will be payable under this Supplementary Benefit if the Critical Illness of the Insured results directly or

indirectly, wholly or partly, from any of the following circumstances:

i. Any Pre-Existing Condition;ii. Any violation or attempted violation of the law or resistance to arrest;iii. The Insured#s refusing to consent to treatment or defying the advice of a Medical Practitioner;

iv. Accident caused by the effect of alcohol or improper use of drug or use of narcotics;v. Attempted suicide or intentionally self-inflicted Injury of the Insured while sane or insane;

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vi. Any illness relating directly or indirectly from any congenital conditions;vii. Any nuclear, biological, radioactive and chemical contamination;viii.

War (whether declared or not), invasion or acts of foreign enemies, civil war, revolution, rebellion, civil commotion

assuming the proportions of, or amounting to, an uprising against the government, riot or insurrection, strike, or

terrorist acts;

ix. Engaging in or taking part in air, military or naval service in peace time or in time of declared or undeclared war orwhile under order for warlike operations or restoration of public order;

x. Engaging in air travel except as a fare-paying passenger in a properly licensed commercial aircraft;xi. Involvement in any dangerous or risky sports or hobbies unless sports risk premium is paid;xii. Human Immunodeficiency Virus(HIV) and or any HIVrelated illness including Acquired Immune Deficiency

Syndrome (AIDS) and/or any mutations, derivations or variations thereof (except !HIV/AIDS due to Blood

Transfusion" and !Occupationally Acquired HIV/AIDS" as stated in Section 13 Definition of Covered Critical

Illnesses).

10. REQUIREMENTS OF CLAIM

To make a claim, FWD must receive the following requirements:

i. Claimant#s Statement;

ii. Attending Physician#s Statement (APS);

iii. Medical Certificate;

iv. Medical Records;

v. Evidence of Accident, if applicable; and

vi. Any medical requirements as specified in Section 13 Definition of Covered Critical Illnesses.

FWD must receive the requirements within ninety (90) days from the date of knowledge of the occurrence of the

Critical Illness. Failure to submit within the time required shall not invalidate or reduce any claim if it can be shown that

it was not practicable to submit the requirements and its submission was made as soon as it was reasonably possible.

FWD reserves the right to require additional documents or evidences to help assess the validity of the claim at the

Owner#s expense. FWD shall have the right to make an autopsy, unless forbidden by law.

11. TERMINATION

This Supplementary Benefit shall automatically terminate on the earliest of the following:

i. The Total Account Value becomes insufficient to cover the Cost of Insurance of this Supplementary Benefit , exceptwhen Contract Debt is in effect;

ii. On the date following FWD#s approval of the Owner#s written request for termination of this SupplementaryBenefit;

iii. The Expiry Date of this Supplementary Benefit; oriv. Termination of the Policy.

Termination of this Supplementary Benefit shall not prejudice any claim arising prior to such termination.


No legal action on this Supplementary Benefit may be filed after one (1) year from the time the cause of action accrues.

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13. DEFINITION OF COVERED CRITICAL ILLNESSES

For Benefits to be paid, all Critical Illness as further defined below, except for Myocardial Infarction, Cancer, or

Coronary Artery Bypass Grafting must not have been diagnosed within (60) sixty days from Effective Date or date of

effectivity of last reinstatement of this Supplementary Benefit whichever is later. Myocardial Infarction, Cancer, orCoronary Artery Bypass Grafting may only be compensated if not diagnosed within ninety (90) days from Effective Date

or date of effectivity of last reinstatement of this Supplementary Benefit whichever is later.

1. Alzheimers Disease

The diagnosis must be clinically confirmed by an appropriate consultant appointed by FWD.

Non-organic diseases such as neurosis and psychiatric illnesses, and alcohol related brain damage are excluded.

2. Apallic Syndrome

Universal necrosis of the brain cortex with the brainstem intact. The definite diagnosis must be confirmed by a

consultant neurologist appointed by FWD and evidenced by specific findings in neuro-radiological tests. This Condition

has to be medically documented for at least one month.

3. Aplastic Anaemia

Chronic persistent bone marrow failure which results in anaemia, neutropenia and thrombocytopenia requiring

treatment with at least one of the following:

i. blood product transfusion,ii. marrow stimulating agents,iii. immunosuppressive agents, oriv. bone marrow transplantation.

The diagnosis must be confirmed by a haematologist appointed by FWD.

4. Bacterial Meningitis

Bacterial infection resulting in severe inflammation of the membranes of the brain or spinal cord resulting in significant,

irreversible and permanent neurological deficit confirmed by a consultant neurologist appointed by FWD. Confirmation

Deterioration or loss of intellectual capacity as confirmed by clinical evaluation and imaging tests, arising from

Alzheimer's disease or irreversible organic disorders, resulting in there being at least three (3) of the following six (6)

Activities of Daily Living which the Insured (with or without the use of mechanical equipment, special devices or other

aids and adaptations in use for disabled persons) is unable to perform without the continuous assistance of another

person:

i. Washing : the ability to wash in the bath or shower (including getting into and out of the bath or shower) or washsatisfactorily by other means,

ii. Dressing : the ability to put on, take off, secure and unfasten all garments and, as appropriate, any braces, artificiallimbs or other surgical appliances,

iii. Transferring : the ability to move from a bed to an upright chair or wheelchair and vice versa,iv. Mobility : the ability to move indoors from room to room on level surfaces,v. Continence: the ability to control bowel and bladder function so as to maintain a satisfactory level of personal

hygiene,

vi. Feeding: the ability to feed oneself once food has been prepared and made available.

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of bacterial infection in cerebrospinal fluid by lumbar puncture is required and the neurological deficit must persist

continuously for at least six (6) weeks. Bacterial Meningitis in the presence of HIV infection is excluded.

5. Benign Brain Tumour

A benign tumour in the brain as evidenced by all of the following:

i. the tumour is life threatening,ii. it has caused damage to the brain andiii. it has undergone surgical removal or, if inoperable, has caused a permanent neurological deficit.

The presence of the underlying tumour must be confirmed by a neurologist or neurosurgeon appointed by FWD,

supported by findings on Magnetic Resonance Imaging, Computerised Tomography, or other reliable imaging

techniques.

The following are excluded:

i. cysts,ii. granulomas,iii. vascular malformations,iv. haematomas, andv. tumours of the pituitary gland or spine.

6. Cancer

A malignant tumour characterised by the uncontrolled growth and spread of malignant cells with invasion and

destruction of normal tissue. The cancer must be confirmed by histological evidence of malignancy by an oncologist or

pathologist appointed by FWD.


i. tumours showing the malignant changes of carcinoma-in-situ and tumours which are histologically described aspre-malignant or non-invasive, including, but not limited to:

a. carcinoma-in-situ of the breasts andb. cervical dysplasia CIN-1, CIN-2 and CIN-3,

ii. all of the following types of skin cancer, unless there is evidence of metastases:a. hyperkeratosis,b. basal cell and squamous skin cancers andc. melanomas of less than 1.5mm Breslow thickness, or less than Clark Level 3,

iii. prostate cancers which are histologically described as TNM Classification T1a or T1b or prostate cancers of anotherequivalent or lesser classification,iv. T1N0M0 papillary micro-carcinoma of the thyroid less than 1 cm in diameter,v. papillary micro-carcinoma of the bladder,vi. chronic lymphocytic leukaemia less than RAI Stage 3, andvii. all tumours in the presence of HIV infection,

viii.tumours of the ovary classified as T1aN0M0, T1bN0M0 or FIGO 1A, FIGO 1B.

7. Cerebral Aneurism Requiring Surgery

Brain surgery to correct an abnormal dilation of cerebral arteries, involving all three layers of the walls of the cerebral

arteries. The aneurism must be at least 10 mm in size or increasing by at least 0.95 mm per year and the need for

surgery must be confirmed by a neuro-surgeon appointed by FWD, as evidenced by the results of cerebral angiography.

The following are specifically excluded:

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12. Coronary Artery Bypass Grafting

The actual undergoing of open-heart surg ery to correct the narrowing or blockage of one or more of the coronaryarteries with bypass grafts.

Angiographic evidence of significant coronary artery obstruction must be provided and the procedure must be

considered medically necessary by a cardiologist appointed by FWD.

Angioplasty and all other intra-arterial, catheter-based techniques, keyhole or laser procedures are excluded.

13. Fulminant Viral Hepatitis

A submassive to massive necrosis of the liver by the hepatitis virus, leading precipitously to liver failure. The diagnosis

in respect of this illness must be evidenced by all of the following:

i. a rapidly decreasing liver size,ii. necrosis involving entire lobules, leaving only a collapsed reticular framework,iii. rapid deterioration of liver function tests,iv. deepening jaundice, andv. hepatic encephalopathy.

14. Heart Valve Surgery

The actual undergoing of open-heart surgery to replace or repair heart valve abnormalities. The diagnosis of heart

valve abnormality must be supported by cardiac catheterization or echocardiogram and the procedure must be

considered medically necessary by a consultant cardiologist appointed by FWD.

15. HIV/AIDS due to Blood Transfusion

Infection with the Human Immunodeficiency Virus (HIV) through a blood transfusion, as evidenced by all of the

following:

i. the infection was due to a blood transfusion that was medically necessary or given as part of a medical treatment,ii. the blood transfusion was received in Philippines after the Effective Date, date of endorsement or date of

reinstatement of this Supplementary Benefit (whichever is the latest),

iii. the source of the infection is established to be from the institution that provided the transfusion and the institutionis able to trace the origin of the HIV tainted blood; and

iv. the insured does not suffer from thalassaemia major or haemophilia.

No payment will be made under this condition where a cure has become available prior to the infection. !Cure"means

any treatment that renders the HIV inactive or non-infectious.

16. Loss of Hearing (Deafness)

Total and irreversible loss of hearing in both ears as a result of illness or accident. The inability to hear must be

established for a continuous period of six (6) months and must (at the end of that period) be deemed permanent on the

basis of audiometric and sound-threshold test results furnished by an Ear, Nose and Throat (ENT) specialist appointed

by FWD.

Total means !the loss of at least 80 decibels in all frequencies of hearing".

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17. Loss of Sight (Blindness)

Total and irreversible loss of sight in both eyes as a result of illness or accident. The blindness must be confirmed by an

ophthalmologist appointed by FWD.

18. Loss of Speech

Total and irrecoverable loss of the ability to speak as a result of Injury or disea se to the vocal cords. The inability to

speak must be established for a continuous period of twelve ( 12) months and must (at the end of that period) be

deemed permanent on the basis of medical evidence furnished by an Ear, Nose and Throat (ENT) specialist appointed

by FWD.

All psychiatric related causes are excluded.

19. Major Burns

Third degree (full thickness of the skin) burns covering at least 20% of the surface of the Insured#s body.

Diagnosis must be confirmed by a specialist appointed by FWD and must be evidenced by specific results using the Lund

Browder Chart or equivalent burn area calculators.

20. Major Head Trauma

The neurological deficit must have persisted continuously for at least six (6) weeks and must (at the end of that period)

be deemed permanent by a consultant neurologist appointed by FWD, supported by unequivocal findings on Magnetic

Resonance Imaging, Computerised Tomography, or other reliable imaging techniques.

The Accident must be caused solely and directly by Accidental, violent, external and visible means and independently of

all other causes.


i. head injury due to any other cause, andii. spinal cord injury.

Accidental head Injury resulting in there being at least three (3) of the following six (6) Activities of Daily Living which

the Insured (with or without the use of mechanical equipment, special devices or other aids and adaptations in use for

disabled persons) is unable to perform without the continuous assistance of another person:

i. Washing : the ability to wash in the bath or shower (including getting into and out of the bath or shower) or wash

satisfactorily by other means,ii. Dressing : the ability to put on, take off, secure and unfasten all garments and, as appropriate, any braces, artificial

limbs or other surgical appliances,

iii. Transferring : the ability to move from a bed to an upright chair or wheelchair and vice versa,iv. Mobility : the ability to move indoors from room to room on level surfaces,v. Continence: the ability to control bowel and bladder function so as to maintain a satisfactory level of personal

hygiene,

vi. Feeding: the ability to feed oneself once food has been prepared and made available.

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21. Major Organ Transplant

The actual undergoing (as a recipient) of a transplant of:

i. one of the following human organs:

a. heart,b. lung,c. liver,d. kidney,e. pancreas, or

ii. human bone marrow using haematopoietic stem cells preceded by total bone marrow ablation,

as a result of irreversible end-stage failure of the relevant organ.

Other stem cell transplants are excluded.

22. Major Stroke

A cerebro-vascular incident including infarction of brain tissue, cerebral and subarachnoid haemorrhage, cerebral

embolism and cerebral thrombosis, as evidenced by all of the following:

i. there is evidence of permanent neurological damage confirmed by a neurologist appointed by FWD at least 6weeks after the event,

ii. there are findings on Magnetic Resonance Imaging, Computerised Tomography, or other reliable imagingtechniques consistent with the diagnosis of a new stroke.


i. transient ischaemic attacks,ii. brain damage due to an accident or Injury, infection, vasculitis, and inflammatory disease,iii. vascular disease affecting the eye or optic nerve, andiv. ischaemic disorders of the vestibular system.

23. Medullary Cystic Disease

A progressive hereditary disease of the kidneys characterised by the presence of cysts in the medulla in both kidneys,

tubular atrophy and intestitial fibrosis with the clinical manifestations of anaemia, polyuria and renal loss of sodium.

The condition must present as the chronic irreversible failure of both kidneys to function, requiring regular renal

dialysis.

Diagnosis must be supported by renal biopsy.

24. Motor Neurone Disease

Motor neurone disease of unknown aetiology, as characterised by progressive degeneration of corticospinal tracts and

anterior horn cells or bulbar efferent neurones. These include spinal muscular atrophy, progressive bulbar palsy,

amyotrophic lateral sclerosis and primary lateral sclerosis.

The condition must result in there being at least three (3) of the following six (6) Activities of Daily Living which the

Insured (with or without the use of mechanical equipment, special devices or other aids and adaptations in use for

disabled persons) is unable to perform without the continuous assistance of another person:



iii. Transferring : the ability to move from a bed to an upright chair or wheelchair and vice versa,iv. Mobility : the ability to move indoors from room to room on level surfaces,

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v. Continence : the ability to control bowel and bladder function so as to maintain a satisfactory level of personalhygiene,

vi. Feeding : the ability to feed oneself once food has b een prepared and made available.

For a benefit to be payable, such disability must have persisted for a continuous period of at least three (3) months and

must (at the end of that period) be confirmed by a neurologist appointed by FWD as progressive and resulting in

permanent disability and neurological deficit.

25. Multiple Sclerosis

The definite occurrence of multiple sclerosis, as diagnosed by a neurologist appointed by FWD, and as evidenced by all

of the following:

i. investigations unequivocally confirm the diagnosis to be multiple sclerosis,ii. multiple neurological deficits have occurred over a continuous period of at least six (6) months, and

iii. there is a well documented history of exacerbations and remissions of said symptoms or neurological defic its.

Other causes of neurological damage such as SLE and HIV are excluded.

26. Muscular Dystrophy

A group of hereditary degenerative diseases of muscle, characterised by weakness and atrophy of muscle. The

diagnosis of muscular dystrophy must be unequivocal and made by a consultant neurologist appointed by FWD. The

condition must result in the re being at least three (3) of the following six (6) Activities of Daily Living which the Insured

(with or without the use of mechanical equipment, special devices or other aids and adaptations in use for disabled

persons) is unable to perform without the continuous assistance of another person:



iii. Transferring : the ability to move from a bed to an upright chair or wheelchair and vice versa,iv. Mobility : the ability to move indoors from room to room on level surfaces,v. Continence : the ability to control bowel and bladder function so as to maintain a satisfactory level of personal

hygiene,

vi. Feeding : the ability to feed oneself once food has been prepared and made available.

For a benefit to be payable, such disability must have persisted for a continuous period of at least six (6) months and

must (at the end of that period) be deemed permanent by a consultant physician appointed by FWD.

27. Myocardial Infarction (Heart Attack)

Death of a portion of the heart muscle arising from inadequate blood supply to the relevant area. The diagnosis must

be met by three or more of the following five criterias, which are consistent with a new heart attack:

i. a history of typical chest pain,ii. new electrocardiogram (ECG) changes proving infarction,iii. diagnostic elevation of cardiac enzyme CK-MB,

iv. cardiac troponin T or I at 0.5ng/ml and above,orv. left ventricular ejection fraction less than 50%, measured three (3) months or more after the event.

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28. Occupationally Acquired HIV/AIDS

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