FEATURES & BENEFITS

Long Term Pension Program

Received a guaranteed pension benefit either 15 or 20 years depending on the chosen program and settlement options.

Yearly Cash Benefit (YCB)

A Yearly Cash Benefit amount equivalent to 10%, 20%, 25% or 50% from ten (10) or five (5) succesive years before the plan's maturity date.

Pension Benefit

A full amount of the chosen pension benefit will be given to the planholder or to the pension beneficiary (in case death) upon reaching the plan's maturity date.

Insurance Coverage

• Credit Life Insurance

  Should the planholder passed away during the paying period, the unpaid balance of the Contract Price installement is waived.

• Total Disability Benefits

  Should the planholder become totally disabled. the unpaid balance of the Contract Price installment is waived

• Term Life Insurance

  Should the planholder passed away within the term of the pension plan, the insurance beneficiary will be entitled to an amount equivalent to 100% of the Pension Benefit.

• Accidental Death Benefit

  Should the planholder passed away as a result of an injury sustained in an accident, the insurance beneficiary will be entitled to an additional amount equivalent to the pension benefit.

Flexible Mode of Payments

Flexible mode of payments were designed for our planholder's convenience such as: Monthly, Quarterly, Semi-Annual, Annual Installment or Spot Cash.

Reinstatement

In case failure of payments after the given period, the pension plan is considered lapsed and all benefits due will be suspended. However, two (2) years will still be given after the grace period to reinstate the plan.

Guaranteed Cash Benefit (Non Forfeiture of Contributions)

If your lapsed plan remains unreinstated after the given reinstatement period, you will still be entitled to a cash benefit upon the prescribed maturity date.

Terms and condition of FP Elite Contract Provision applies