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Frequently Asked Questions

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Life Insurance 101

1. What is life insurance?
It is a disciplined financial program which combines both investment and protection to enable one to prepare for life's contingencies such as death, disability, sickness or old age. Life insurance is also an effective means of preparing for such major life events such as a child's education, one's retirement or the start of a business.
2. Can my application be disapproved due to health reasons?
Yes. In some cases, it may be approved with a higher premium if health is below set standards.
3. How much life insurance do I need?
It depends on how much you are worth, in terms of assets and financial strength, to your family/loved ones. It also depends on your savings goals for a college education, retirement or others.
4. What kind of life insurance do I need?
That depends on your purpose for buying life insurance, whether it is for financial protection, investment, education, estate preservation, etc.
5. Do I need more than one policy? What if I already have insurance?
Both inflation and devaluation adversely affect the value of your life insurance. Upgrading your insurance policy every few years ensures adequate protection for you and your family.
6. Do I need a medical exam to qualify for insurance coverage?
Medical exams are not a requisite to qualify for insurance coverage. Although on a case-to-case basis, you would have to go through standard medical exams depending on your age and the sum assured.
7. Who should buy life insurance?
Anyone who wants to prepare for his/her future, or for that of his/her child. Hence, everyone (for as long as he/she is eligible) should buy life insurance.

Receipt of Contract

1.What should I do when I receive my contract?
Upon receipt of your contract, please check the accuracy of your name, birthday, address, telephone number, email address, designated beneficiaries and their birth dates and other information that you have provided in the application form. If there are discrepancies, please inform us immediately so we can correct your policy records. Simply call us at 849-9633, or email us at Your Policy Number is found on the face page of your policy contract. For all transactions and inquiries regarding your policy, please provide your policy number.

Premium Payment

1.When should I pay?
Payment for your life insurance policy is called "premium." You should remit your premium payment before your due date or within the grace period allowed for payment. Your premium due dates are shown in your policy contract.
2.What will happen if I do not pay on time?
If you are unable to pay your premium on time, your policy may lapse. Thus, we encourage you to keep a record of your due dates so you can pay your premiums on time. Your policy includes a grace period for premium payment. Normally, the grace period for premium payment is 31 days from due date. You may refer to your policy contract for details on the grace period provision.
Frequently Asked Questions