New Business Underwriting Distributor’s Copy
3 3 / F G T T o w e r I n t e r n a t i o n a l
6 8 1 3 A y a l a A v e n u e c o r n e r H . V . D e l a C o s t a S t r e e t M a k a t i C i t y
Non-Medical Underwriting
Version 3.2
NB Underwriting Guidelines
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NEW BUSINESS
UNDERWRITING GUIDELINES
DOCUMENT HISTORY Version History:
Version
Number
n.n
Issued
On Date
YYYY/MM/DD
Author(s)
First Name, Surname & Title
Signature
Reviewed by:
First Name, Surname & Title
Signature
Description/
Change Description/
Comments
1.0
KATHLEEN V. DRIZ
Non-Med Underwriting
2.0
KATHLEEN V. DRIZ
Non-Med Underwriting
3.0
2014/12/01
MA. CRISTINA DELA CRUZ
NBBO - SUPERVISOR
MS. MARIA CARLA CASTILLO
UNDERWRITING - HEAD
Non-Med Underwriting
Updated Guidelines on Completion of Application Form
Inclusion of FATCA Guidelines
Updated Financial Underwriting Guidelines
Inclusion of Tele-underwriting
Updated NMA Tables and Aggregation Rules
Updated Business Rules in Underwriting – Included Term Conversion and IMDD Attestation Rules
Updated Product and Description
Updated Occupation Guidelines
Updated Foreign Residence Guidelines
3.1 2015/02/11 MA. CRISTINA DELA CRUZ
NBBO - SUPERVISOR
MS. MARIA CARLA CASTILLO
UNDERWRITING - HEAD
Updated GIO Guidelines (New)
Updated LAQ validity (New)
Updated Business Rule on Underwriting Fees and Pre-underwriting
3.2 2015/05/06 MA. CRISTINA DELA CRUZ
NBBO - SUPERVISOR
MS. MARIA CARLA CASTILLO
MS. ROSSELLE BAHIA
UNDERWRITING MANAGERS
Updated Rules on Politicians
Updated Rules on Payment Facility
NB Submission Cut-off time
Document Sign-off:
Name
First Name & Surname & Title
Signature Date
MR. ARIEL MAGTOTO
CHIEF OPERATIONS OFFICER
MS. MARIA CARLA CASTILLO
UNDERWRITING - MANAGER
MA. CRISTINA DELA CRUZ
NBBO - SUPERVISOR
EL RAQUEL JALAC
UNDERWRITING - SUPERVISOR
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CONTENTS
Contents ix
PURPOSE ........................................................................................................................................................................ 6
SCOPE AND LIMITATIONS ............................................................................................................................................ 6
DEFINITION OF TERMS ................................................................................................................................................. 7
INTRODUCTION TO UNDERWRITING ........................................................................................................................ 10
What is Underwriting? ........................................................................................................................................ 10
Risk Classification ............................................................................................................................................ 10
Ant-selection ..................................................................................................................................................... 11
Risk Selection ................................................................................................................................................... 11
What Factors are considered in Life Insurance Underwriting? .................................................................... 11
Physical ............................................................................................................................................................ 11
Occupation ....................................................................................................................................................... 12
Financial ........................................................................................................................................................... 12
Moral ................................................................................................................................................................. 12
Avocation and Hazardous Activities ................................................................................................................. 12
Residence and Travel ....................................................................................................................................... 12
Beneficiary Designation ................................................................................................................................... 13
What are the Sources of Information? ............................................................................................................ 13
Distributor's Confidential Report ...................................................................................................................... 13
Application Form .............................................................................................................................................. 13
Medical Examiner's Report ............................................................................................................................... 13
Attending Physician's Statement ..................................................................................................................... 13
Inspection Report.............................................................................................................................................. 13
Medical Information Bureau (MIB) ................................................................................................................... 14
Financial Reports .............................................................................................................................................. 14
Supplemental Questionnaires ......................................................................................................................... 14
APPLICATION FORM - COMPLETION AND SUBMISSION ....................................................................................... 16
Application Form ................................................................................................................................................. 16
General Guidelines in Completing the Application Form.............................................................................. 16
Detailed Guide in Completing the e-Application Form .................................................................................. 18
Other Documents to be submitted with the Application Form .................................................................... 31
MEDICAL REQUIREMENTS ......................................................................................................................................... 32
Medical Tests ....................................................................................................................................................... 33
Medical Questionnaires / Clearance................................................................................................................ 39
Instances when Additional Medical Tests are Required ............................................................................... 40
NON-MEDICAL REQUIREMENTS ................................................................................................................................ 41
Financial Evidences ............................................................................................................................................ 41
Avocation ............................................................................................................................................................. 42
Beneficiary Designation ..................................................................................................................................... 43
Foreign Nationals ................................................................................................................................................ 44
Various Classes of Clients ................................................................................................................................. 44
Business Rules .................................................................................................................................................... 44
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Contents ix
UNDERWRITING GUIDELINES .................................................................................................................................... 45
Rules on Various Classes of Clients ................................................................................................................. 45
Juvenile ............................................................................................................................................................. 45
Female .............................................................................................................................................................. 46
Oversease Filipino Workers (OFW) / Filipino Migrant ...................................................................................... 47
Foreign Nationals ............................................................................................................................................. 47
Muslims ............................................................................................................................................................ 47
Policticians ....................................................................................................................................................... 48
Philippine National Police (PNP) and Armed Forces of the Philippines (AFP) ................................................. 48
Entertainers and Seamen ................................................................................................................................ 48
Mindanao Residents ......................................................................................................................................... 49
Financial Underwriting Guidelines ................................................................................................................... 52
Reasonable Amounts of Insurance .................................................................................................................. 52
Affordability Check ........................................................................................................................................... 54
Financial Underwriting Requirements (Routine) .............................................................................................. 55
Business Continuity Plan .................................................................................................................................. 56
Keyman Insurance .................................................................................................................................... 56
Business Partnership Insurance / Buy-Sell Insurance .............................................................................. 57
Beneficiary Designation Guidelines ................................................................................................................. 61
Classification according to Priority ................................................................................................................... 61
Classification according to Rights .................................................................................................................... 61
Rules in Designating Beneficiary ..................................................................................................................... 61
UNDERWRITING METHODOLOGY ............................................................................................................................. 63
How Application Becomes Substandard ......................................................................................................... 63
Contributory Factors ......................................................................................................................................... 63
Table Rating Method ........................................................................................................................................ 64
Flat Extra Method ............................................................................................................................................. 65
Underwriting Decicion Related to Single Premium .......................................................................................... 65
Tele-Underwriting ................................................................................................................................................ 66
How to Calculate Aggregate Sum Insured ...................................................................................................... 67
Computation of Proposed Sum Assured for Routine Medical Requirements .................................................. 67
Zero Aggregation Rule (ZAR) ..................................................................................................................... 67
Six-Month Aggregation Rule ...................................................................................................................... 68
Health Max Aggregation Rule ................................................................................................................... 68
Simplified Issue Offer Aggregation Rule ................................................................................................... 68
Guaranteed Issue Offer Aggregation Rule ................................................................................................ 68
Computation of Proposed Sum Assured for Routine Financial Requirements ................................................ 69
Table of Routine Medical and Financial Requirements .................................................................................... 70
Examples of Calculation of Aggregate Sum Assured for Medical and Financial .............................................. 72
REINSURANCE ............................................................................................................................................................. 79
What is Reinsurance? ........................................................................................................................................ 79
Types of Reinsurance ......................................................................................................................................... 79
Reinsurance by Treaty ...................................................................................................................................... 79
Facultative Reinsurance ................................................................................................................................... 79
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Contents ix
BUSINESS RULES ........................................................................................................................................................ 80
Business Rules in Underwriting ........................................................................................................................ 80
Document Validity Period .................................................................................................................................. 80
Reconsideration of Underwriting Decision ........................................................................................................ 80
Underwriting Dates ............................................................................................................................................ 81
Underwriting Fees .............................................................................................................................................. 82
Pre-underwriting ................................................................................................................................................ 82
Cut-off ................................................................................................................................................................ 82
Excess/Shortage in Premium Payments ........................................................................................................... 83
Term Conversion ................................................................................................................................................ 85
IMDD Attestation ............................................................................................................................................... 86
Payment Facilities ............................................................................................................................................. 86
Auto-debit Facility...................................................................................................................................... 86
Credit Card Facility .................................................................................................................................... 87
Legal Requirements in Underwriting ............................................................................................................... 87
Changes in the Application................................................................................................................................ 87
Substandard Lives ............................................................................................................................................. 87
Cancallation of Application ............................................................................................................................... 88
Temporary Life Insurance Coverage (TLIC) ....................................................................................................... 88
Policy Replacement ........................................................................................................................................... 88
Policy Issuance .................................................................................................................................................. 89
Foreign Account Tax Compliance Act ................................................................................................................ 89
Know-Your-Customer (KYC) and Customer Due Diligence (CDD) ...................................................................... 93
ANNEXES ...................................................................................................................................................................... 95
Product and Description .................................................................................................................................... 95
Bulletin (Annex A - Revised List of Valid IDs) ................................................................................................ 100
Sample Forms ................................................................................................................................................... 106
Annex B - Secretary Certificate for Fringe Benefit ........................................................................................... 106
Annex C - Undertaking ..................................................................................................................................... 107
Annex D - Special Power of Attorney ............................................................................................................... 108
Annex E - Secretary Certificate for Keyman Insurance ................................................................................... 110
Annex F - Memorandum of Agreement for Business Partnership .................................................................. 111
Annex G - Secretary Certificate for Stockholders ............................................................................................ 114
Annex H - Memorandum of Agreement for Shareholders ............................................................................... 115
Annex I - W-9 Request for Taxpayer Identification Number and Certification ................................................ 117
UNDERWRITING TABLES .................................................................................................................................. 121
Annex J - Non-Medical Limits and Financial Underwriting Requirements Table ............................................. 121
Annex K - Philippine Occupational Guidelines ................................................................................................ 123
Annex L - Foreign Residence Guidelines ......................................................................................................... 136
Annex M - Declined Areas in Mindanao........................................................................................................... 147
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Purpose
This manual is primarily designed to provide all Distributors of AXA Life Philippines a
comprehensive reference tool in non-medical underwriting
This Underwriting Guidebook is divided into ten (10) sections namely:
Definition of Terms
Introduction to Underwriting
Application Form – Completion and Submission
Medical Requirements
Non-Medical Requirements
Underwriting Guidelines
Underwriting Methodology
Reinsurance
Business Rules
Annexes
Scope and Limitations
This manual is intended for use of AXA Distributors for non-medical underwriting only.
In-Scope:
Underwriting Guidelines and Methods
Out-of-Scope:
Systems and process
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AMLA Anti-Money Laundering Act
A set of procedures, laws, or regulations design to stop the practice of generating income
through illegal actions. In most cases, income generated through illegal actions is
transformed by doing a series of legitimate transactions until money coming from illegal
activities becomes clean money.
Covered Transaction A transaction in cash or other equivalent instrument involving a total amount in excess of
Five Hundred Pesos (PHP 500,000) or its dollar equivalent within one banking day
E-Application An electronic version of the application form wherein Distributor may have the option to
complete the NB application using an online facility
Endowment Insurance A type of life insurance for a specified amount which is payable to the insured person after
a specified term (or maturity) or to a designated beneficiary immediately upon death of the
insured
FATCA Foreign Account Tax Compliance Act
A new U.S. regulation that requires all Financial Institutions globally to report to the US tax
authority about their American Clients. This Act was designed primarily to combat
offshore tax evasion by “US persons”.
Guaranteed Issue Offer An underwriting approach wherein no medical examinations shall be required from the
client except for the routine documentary evidences set out in these guidelines
MCG Market Conduct Guidelines
Guidelines created by the Insurance Commission and implemented by Legal and
Compliance Department of AXA Philippines
MIB Medical Information Bureau
A non-profit organization established to provide coded information to insurers concerning
impairments that applicants have admitted to or that other insurance companies have
detected in connection with previous applications for insurance
DEFINITION OF TERMS
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Policy Replacement Any transaction whereby life insurance is to be replaced in a single contract or in more
than one related contracts, as a consequence of which any existing contract of life
insurance has been or is to be, within one year before or after the issuance of the new
coverage(s):
(a) Rescinded
(b) Lapsed (c) Surrendered including full withdrawal (d) Changed to paid-up insurance (e) Continued as an extended term insurance (f) Continued under automatic premium loan (g) Changed in any manner to reduce benefit including partial withdrawal (h) Subjected to borrowing of the entire or almost the entire policy loan value (i) Under a schedule of borrowing over a period of time
Simplified Issue Offer An underwriting approach that requires minimum underwriting, offered under a limited
amount of coverage, with no medical examinations, only simplified medical declarations
Suspicious Transaction A transaction regardless of amount, where any of the following circumstances exists:
(a) Unclear purpose
(b) Client is not properly identified (c) Amount involved is not commensurate with client’s financial capability (d) Transaction is structured in order to avoid being the subject of reporting requirements
under the Act (e) Deviation from Client’s profile and past transactions (f) Relation to any unlawful act (as indicated in AMLA) (g) Any transaction similar to the foregoing
Term Conversion It is the conversion of an existing basic term plan or term rider plan to any regular paying
premium plan (except term plan) of the same currency
Term Life Insurance A type of insurance coverage which provides a stated benefit upon the death of the
Insured, provided that the death occurs within a specific time period. This type of
insurance policy contrast with whole life or permanent life insurance, in which duration
extends until the Insured reaches 100 years of age (i.e. death)
Variable Life Insurance A life insurance policy with an investment attached to it. A portion of the premium is
placed in an investment fund
The life insurance portion of VLIP is dependent on the account value of the policy, which
varies according to the performance of the chosen investment fund. The policyholder
chooses the fund type he/she would like to invest in.
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Watch List An internal list created and maintained by Legal and Compliance which aims to provide
authorized employees with information on persons and entities suspected of being
involved in illegal activities
WFI Work Flow and Imaging
A document management system which has the following functionalities: scanning,
indexing, importing files, verification, releasing document to WFI image repository, image
retrieval, case allocation, routing, escalation, and transfer for quality checking and case
closure
Whole Life Insurance A type of insurance coverage that continues throughout the insured’s life and will mature
only at the insured’s death or upon attaining the age of 100
World Check An open source intelligence (OSINT) database containing detailed profiles on terrorists
and those who finance terrorism, money launderers, fraudsters, politically-exposed
persons and many others
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I. WHAT IS UNDERWRITING? Insurance is primarily a risk sharing business. The policyholders pay premiums in exchange for a specified amount of coverage called face amount (alternatively referred to as sum insured or sum assured). The face amount of the life insurance policy is the amount promised by the company to pay either to the insured himself in case of maturity, or to the beneficiaries in case of premature death of the insured. The premiums are based on assumed mortality or death rates, among other factors. Sometimes an application for life insurance has to be postponed or declined because no amount of extra premium can compensate for the very high risk that the proposed insured presents. The premiums, therefore, must be commensurate to the degree of risk that the proposed insured presents to the company. RISK CLASSIFICATION The basic principle of risk classification is that each insured should be charged an amount of premium commensurate with the risk the applicant presents. The company does not have a crystal ball that will enable it to determine who among its applicants will die in any given year. However, the company can predict with high degree of accuracy how many of its policyholders are likely to die, based on its past experience. After careful study or deliberation, the company has to arrive at a decision whether to accept or reject the applicant for life insurance. There are four (4) classifications available in Underwriting
1. Standard Class – A risk class of applicants whose anticipated mortality rates are average. Applications are approved as applied for and standard premium rate is charged.
2. Substandard Class – A risk class of applicant whose anticipated mortality rates are higher than average, but who are still considered to be insurable. Applications are approved with modification in the premium or modification in coverage .
3. Postponed – A risk class of applicant in which the insurance company defers acceptance of application until the risk disappears or becomes acceptable to the company
4. Declined – A risk class of applicant whose impairments and anticipated extra mortality risks are so great that the insurer cannot provide coverage at an affordable cost or whose mortality risk cannot be predicted because of recent or unusual medical conditions or other risk factors.
INTRODUCTION TO
UNDERWRITING
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ANTI-SELECTION The company has to classify risks because of anti-selection. Anti-selection is the tendency of people with greater than likelihood of loss to apply for insurance to a greater extent than do other people. For example, people who discover they have a terminal disease will want to take out life insurance to provide for their family when they are no longer around. RISK SELECTION The Distributor’s role is to select risks, while it is the home office underwriter’s role to evaluate and classify risk presented by the applicant. The underwriter must first judge whether the life insurance application has been completed thoroughly and accurately. Each life insurance company has its own underwriting rules or risk selection factors that it uses when appraising risks for life insurance. It is very important for the Advisor/FE to understand the significance of these factors and the application of the principles involved in the solicitation of life insurance.
II. WHAT FACTORS ARE CONSIDERED IN LIFE INSURANCE UNDERWRITING? Life Insurance Underwriters will typically analyze factors that may affect the anticipated life expectancy of the Proposed Insured. These underwriting factors will enable the Underwriter to determine if the applicant is acceptable for insurance coverage or not. The main factors which underwriting focuses on are: PHYSICAL
Age – obviously one of the major factors in determining expected mortality. Except for the first few years of life, an individual’s resistance to disease and injury weakens with the passage of time, with the result that the probability of death increases with age. All other things being equal, an individual aged 60 is a greater mortality risk than one-aged 25.
Build – relationship between height, weight and girth. Obesity tends to produce a greater mortality risk than those of an average weight in relation to height.
Current Physical Condition of Applicant – body or mental impairment that would tend to shorten the life expectancy of the applicant. Numerous factors, such as the presence of high blood pressure, or diabetes, can produce higher than average mortality. It is important to take note of any impairments of the heart and circulatory system and any physical deformity.
Personal Medical History – includes comprehensive health record of previous illnesses, injuries, and operations. Likewise, any intimate association with a person suffering from a contagious disease. The applicant’s health history sometimes indicates a higher than average mortality. A person, for example, who already had a heart attack is more likely to have a shorter life, all other factors being equal, than one who has not had a heart attack.’
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Family Medical History – is significant because of the transmission of certain medical conditions by heredity. For
example, diabetes is a disease that tends to run in the family. The health history of the applicant’s family is important in assessing his/her mortality.
OCCUPATION
Although advances in safety engineering and industrial medicine have reduced the effects of both accidental and health hazards in the workplace, some occupations are inherently more dangerous, on the average, than others. For example, office workers can be expected to live longer than miners and lumbermen, all other factors being equal. Workers in industries that use certain irritating substances such as asbestos have a greater incidence of lung diseases than do teachers, secretaries, doctors, etc. (refer to Occupational Rating Guide- Annex K). FINANCIAL It is important to note that the applicant should be seeking insurance within his financial capacity. This factor is of initial concern to the Distributor making the sale since the purchase of an excessive amount of insurance may lead to early policy lapsation as the owner fails to meet the premiums. An applicant’s premium paying capacity can be gauged from his salary along with other sources of income such as rental, produce from land, business, etc. MORAL The company is definitely interested in the moral fiber of the applicant. It has been clearly established that immoral conduct involves extra mortality. The excessive use of drugs or alcohol can damage a person’s health that increases his mortality risk. The things the applicants do in their spare time can add to the cost of the insurance because of exposure to unusual hazards. For example, a gambler is a higher-than-average risk than non-gamblers. AVIATION AND HAZARDOUS AVOCATIONS
Today, the risk of flying has been reduced to a much lower level and air travel has become so common that companies do
not impose restrictions on fare-paying passengers on established routes. Pilots and other aircraft crewmembers though,
have restrictions and are usually considered substandard risks. If the applicant is a pilot, the type of flying done is important,
as well as experience.
Avocation or hazardous sports, on the other hand, exposes the person to a greater degree of risk. Examples of hazardous
sports are: sky diving, scuba diving, racing, flying own aircraft. People engaged in hazardous sports will have to pay extra
premium commensurate to the risk involved. In most cases, additional information is necessary to properly appraise the
risk. Depending on the degree of risk associated with a particular avocation, an application may be approved with a rating
or an exclusion clause or even declined.
RESIDENCE AND TRAVEL Residence in, or travel to foreign countries is a factor, which may require an additional premium. Politically unstable areas or where acts of terrorism are common, the additional hazard in business or vacation travel cannot be ignored. Poor living conditions, such as meager nutrition, inadequate sanitation or medical facilities can also result to an extra mortality risk as well as an increased likelihood of poor persistency. (Refer to Foreign Residence Guidelines – Annex L)
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BENEFICIARY DESIGNATION As a general rule, only persons with insurable interest may be designated as beneficiary in a Life Insurance contract. This requires establishing that the beneficiary would suffer a genuine loss if the insured death occurs. On the other hand, the beneficiary should have more to gain if the insured continues to live than when the insured dies.
III. WHAT ARE THE SOURCES OF INFORMATION DISTRIBUTOR’S CONFIDENTIAL REPORT
In a real sense, a company’s field force is the foundation of the selection process. If the Distributor consistently submits good business, the underwriting results will be favorable; if they consistently submit below average risks, the underwriting results will also be below average. Under all circumstances, a report – the Distributor’s Confidential Report – affirming his belief that the applicant meets the underwriting standards of the company must be accomplished and submitted.
APPLICATION FORM
A primary record in the selection of risk is the application form. The soliciting Advisor/FE asks the applicant a number of questions relating to age, occupation, residence, avocations, aviation experience or intentions, amount of insurance carried and pending, plan and amount of insurance desired, his present medical status and medical history, the beneficiary designations and others. The Advisor/FE records the applicant’s answers on the form for submission to the home office underwriter.
The application form should be only be signed by a duly licensed Distributor.
THE MEDICAL EXAMINER’S REPORT
Medical reports take the form of the medical examiner’s reports about the physical condition and health history of the Applicant, reports from paramedical technicians and attending physician’s statements. The Medical Examiner’s report consists of two parts (1) a series of statements made by the Applicant concerning his medical history and (2) the results of the physical examination made by the Medical Examiner. ATTENDING PHYSICIAN’S STATEMENT
If the answers to questions on the application raise any doubts about the Applicant’s health, the underwriter sometimes asks for a report from the applicant’s physician in order to obtain a clearer picture of his health.
INSPECTION REPORT
At times, the applicant may not provide entirely accurate or complete answers to questions. The underwriter needs some means of verifying some of the data indicated in the application form. One such means is an inspection report – an inquiry made by an independent Investigation Agency into various facets of the applicant.
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MEDICAL INFORMATION BUREAU (MIB)
Another form of protection against concealment is the use of the Medical Information Bureau, commonly referred to as - MIB. This serves as the data warehouse of substandard policies where the name of the applicant, date of birth and reason/s for the substandard rating is/are recorded. The existence of an MIB record should not be discussed with the client and should be treated as privileged and confidential information.
FINANCIAL REPORTS
The usual purpose of life insurance is to replace economic loss resulting from the untimely death of the insured. Hence the amount of the person’s coverage must be consistent with his financial status. In big cases (higher face amount), it is always required to submit together with the application form some financial reports i.e. ITR for the last 2 years, Audited Financial Statements for the last 2 years of the company/business owned. In-house Financial Reports may also be required on some cases. When the amount of insurance is disproportionately large considering the client’s income and net worth, it is usually because of either overselling, overbuying or because there is a threat to the life of the applicant. With the financial documents, the underwriting department can prudently appraise the applicant for life insurance on financial grounds. In case ITR or AFS are not available or the information contained therein are insufficient to support the amount of insurance being purchased, the Underwriting Department may request for other financial documents deemed appropriate for example: Statement of Assets and Liabilities, Deed of Real Properties, Stock or bond certificates, proof of long term bank placements, etc. SUPPLEMENTAL QUESTIONNAIRES
These questionnaires may be requested to elicit more details on the information obtained in the application, which include the following:
Forms to be completed by the Applicant:
1. BAQ Bronchial Asthma Questionnaire
2. CPQ Chest Pain Questionnaire
3. DMQ Diabetes Mellitus Questionnaire
5. FBD Fiancé/Fiancée Beneficiary Designation Form
6. HPQ Hypertension Questionnaire
7. KM Keyman Questionnaire
8. LAQ Large Amount Questionnaire
9. SDQ Scuba Diving Questionnaire
10. FRQ Foreign Residence Questionnaire
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Forms to be completed by the Attending Physician:
1. APQ Attending Physician’s Questionnaire
Underwriting Questionnaires are not limited to the above. Other
Questionnaire/s may be required depending on the case.
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I. APPLICATION FORM
The application form is a legal document and is the primary basis of the insurance contract. It is important that the
application form must be carefully and thoroughly completed to provide the Underwriter a clearer picture of the applicant’s
risks and expedite risk-appraisal and approval.
The application form for Full Underwriting provides the following information:
Information on the Proposed Insured and/or Owner
Information on the Beneficiary
Information on the plan and coverage being applied and payment instructions
Information on chosen dividends and premium default options
Information on top-ups, chosen funds and fund allocation % (Variable Life Insurance ONLY)
Declaration of Proposed Insured and/or Owner (Not applicable for Guaranteed Issue Offer)
Declarations and Agreement
Signature of Proposed Insured and/or Owner
II. GENERAL GUIDELINES IN COMPLETING THE APPLICATION FORM
The application form should be accomplished in the presence of the Client. The Client should sign the form immediately after completion. This is to ensure that the client’s declaration/s is/are reflected on the application form as accurately as possible. For succeeding applications from the same Client, it is the Distributor’s responsibility to ensure that Client’s information is correct and updated. Under no circumstances can the Distributor copy the same information from the Client’s previous application without verifying if the information has remained unchanged.
The client should be reminded to review what is in the application form before he/she signs the form.
APPLICATION FORM –
COMPLETION AND
SUBMISSION
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Questions must be asked in person and not over the telephone or via some third party such as the wife/relative, nor
should access be given to the Client to complete the e-Application form.
Even if the applicant is known to the Distributor, questions in the application form should be asked. Even the
healthiest looking person must be asked all the medical and non-medical questions.
Note: Not all healthy looking persons are as healthy as they physically appear. There are certain diseases especially
during the early stages that do not have any physical manifestations.
Complete and relevant information should be provided. In accomplishing the Application Form, remember that the
Client is the first source of information. It is important to ask probing questions in a manner appropriate to the situation.
It is recommended that no question should be left unanswered. Indicate “n/a” if the question is not applicable. Avoid
using marks such as “ditto” or “do” or references to other documents.
Applications with incomplete or unanswered questions may be rejected for initial processing or maybe kept pending.
All answers given by the client must be recorded however insignificant they may seem. Should the space in the application form not enough, an Amendment to the Application Form must be used.
Errors and/or erasures are not acceptable under e-Application. Errors, if any, should be corrected by submitting an Amendment to the Application form signed by the Owner or by the Proposed Insured (if Proposed Insured and Owner are one and the same) and NOT by the Distributor. Client’s full signature and not the initials should be used and the signature must be consistent with the signature as shown in all other submitted documents e.g. valid ID, proposal, etc.
Changes in the application shall only be allowed provided that a duly completed and signed Amendment to
Application Form is submitted.
Upon payment of the complete initial modal premium, the Temporary Life Insurance Certificate should be should be released to the Proposed Insured and/or Owner.
A licensed Distributor should sign the application form.
If the Proposed Insured is a minor (actual age below 18 years old), it is required that the application should have a
designated Owner.
Owner’s mobile number is mandatory and e-mail address is encouraged.
The Distributor should not provide his/her own contact details i.e. e-mail address, contact number, residence or business address in lieu of the applicant’s contact details.
Metrobank Branch or AXA Sales Office address as billing address will not be allowed unless the Policy Owner is an MBTC personnel, an employee in our Sales Office, an Advisor or Financial Executive.
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III. DETAILED GUIDE IN COMPLETING THE E-APPLICATION FORM
1. DETAILS OF PROPOSED INSURED (If Proposed Insured and Owner are one and the same)
Full Name of Proposed Insured a. State full name including the complete middle name. The complete name to be indicated in the application
form should match the name indicated in the birth certificate. Nicknames are not allowed as first name as this would result in the declaration of a totally different person Reminder: It is important that correct name is indicated in the Proposal as same information will be carried over to the application and will not be editable.
b. For Married Females: Married women should ideally use the husband’s surname Legally separated wife should still use the husband’s surname, unless in the decision of the court
approving the legal separation, the wife is allowed to drop the husband’s surname. In the latter case, the
wife should submit a copy of the court’s decision;
For annulled marriage, since the wife is already considered as single, she may now choose to use her single or maiden name
For (a) and (b) above, should the wife prefer to use her maiden surname, she should submit a written explanation
why she prefers to use it; her married name should nevertheless, be indicated in the Amendment Form as her other
name or “a.k.a”. This is necessary to establish her identity since the use of her maiden surname despite (a) and (b)
above is treated as a discrepancy in name.
Date of Birth a) Indicate the Proposed Insured’s date of birth using format (YYYY/MM/DD)
b) The date of birth should match the date of birth indicated on the valid ID. If there is a discrepancy of date of
birth, a birth certificate or copy of valid passport may be required by the Underwriter for confirmation.
Reminder: It is important that correct date of birth is indicated in the Proposal as same information will be carried over to the application and will not be editable.
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The date of birth will be used to calculate for the client’s insurance age and premium. The insurance age will also be used to determine:
Non-medical limits; Acceptance age for plans being applied Reasonable amounts of insurance coverage
Insurance age is computed as 6 months + 1. This means that should the client’s birthday occur within the next 6 months from the time of the completion of application, an additional 1 year must be added to the client’s actual age.
Place of Birth. Indicate the Proposed Insured’s place of birth as indicated on the birth certificate
Note that place of birth is used in the Medical Information Bureau (MIB) record verification.
Sex Carefully tick the Proposed Insured’s sex. Correct sex must be indicated to ensure correct computation of premium
Reminder: It is important that correct sex or gender is indicated in the Proposal as same information will be carried over to the application and will not be editable.
Weight and Height a) Weight – Indicate weight in lbs. or in kilograms
b) Height – Indicate height in feet and inches or in meters
Nationality a) Indicate the Proposed Insured’s nationality
b) If not a Filipino, a valid Alien Certificate of Registration (ACR), I-Card or Investor’s Visa must be submitted to
determine status of stay. If the type of visa is not shown in the I-Card, a photocopy of the Visa as stamped in the customer’s passport should be submitted
c) A Foreigner’s Questionnaire may also be required on a case-to-case basis.
Occupation a) Indicate Proposed Insured’s occupation. If the Proposed Insured has a secondary occupation, this
information should also be indicated.
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b) Give description of the occupation such as position or job title and a brief details of exact duties and
responsibilities
c) If self-employed or applicant has a business, the nature of business must be indicated in the Distributor’s Confidential Report
Occupation has a bearing on risk selection and classification. The Underwriter determines if the occupation has a greater-than-average risk of illness or accident. Hence, a detailed description of occupation must be specified in the Amendment Form or Distributor’s Confidential Report”.
Reminder: It is important that correct occupation is indicated in the Proposal as same information will be carried over to the application and will not be editable.
Identity No. (TIN/SSS/GSIS) This information is used to further establish the identity of the applicant. The complete and correct SSS/GSIS/TIN should be indicated whenever such information is available. This item is not applicable should the Proposed Insured be a juvenile.
Address a) Residence Address – Indicate the Proposed Insured’s residence address. Provide the necessary zip code to
avoid lost mails. Residence Address should be a Philippine Address (in reference to cross-border rule). b) Business Address – Indicate the Proposed Insured’s work or office address. Provide the necessary zip code
to avoid lost mails.
Reminder: P.O. Box is not an acceptable residence or work address
Preferred Mailing Address Indicate the preferred mailing address by selecting between residence and business address
Reminder: Metrobank Branch or AXA Sales Office address will not be allowed unless the Policy Insured/Owner is
an MBTC personnel, an employee in our Sales Office, an Advisor or Financial Executive.
Contact Details
a) Home / Business Phone Number – Indicate the Proposed Insured’s home and/or business phone number if
available
b) Mobile Number – Indicate the Proposed Insured’s mobile number (Mandatory)
c) E-mail Address – Indicate the Proposed Insured’s e-mail address
If the Proposed Insured is different from the Proposed Owner, the Proposed Owner’s mobile number will be
mandatory and the Owner’s contact details (phone number and e-mail address) will be used for communications
such as notice of application, approval, and premium due reminders.
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Source/s of Funds
Select all applicable sources of funds such as: a) salaries; b) income from business; c) savings; d) others <must
specify>
Is the Proposed Insured/Owner a US Citizen or US Tax Resident?
Indicate if the Proposed Insured is a US Citizen or US Tax Resident. If yes, US TIN/SSS must be provided or
indicated in the Home Office Endorsement and Special Instructions under Section 12 of the application form
This question must be answered only if the Proposed Insured is the same as the Proposed Owner
2. DETAILS OF PROPOSED OWNER (If different from Proposed Insured)
Full Name of Proposed Owner a. State full name including the complete middle name. The complete name to be indicated in the application
form should match the name indicated in the birth certificate. Nicknames are not allowed as first name as this would result in the declaration of a totally different person Reminder: It is important that correct name is indicated in the Proposal as same information will be carried over to the application and will not be editable.
b. For Married Females: Married women should ideally use the husband’s surname Legally separated wife should still use the husband’s surname, unless in the decision of the court
approving the legal separation, the wife is allowed to drop the husband’s surname. In the latter case, the
wife should submit a copy of the court’s decision;
For annulled marriage, since the wife is already considered as single, she may now choose to use her single or maiden name
For (a) and (b) above, should the wife prefer to use her maiden surname, she should submit a written explanation
why she prefers to use it; her married name should nevertheless, be indicated in the Amendment Form as her other
name or “a.k.a”. This is necessary to establish her identity since the use of her maiden surname despite (a) and (b)
above is treated as a discrepancy in name.
Date of Birth a) Indicate the Proposed Owner’s date of birth using format (YYYY/MM/DD)
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b) The date of birth should match the date of birth indicated on the valid ID. If there is a discrepancy of date of
birth, a birth certificate or copy of valid passport may be required by the Underwriter for confirmation.
Reminder: It is important that correct name is indicated in the Proposal as same information will be carried over to the application and will not be editable.
The date of birth will be used to calculate for the client’s insurance age and premium. The insurance age will also be used to determine:
Acceptance age for plans being applied Reasonable amounts of insurance coverage
Insurance age is computed as 6 months + 1. This means that should the client’s birthday occur within the next 6 months from the time of the completion of application, an additional 1 year must be added to the client’s actual age.
Place of Birth Indicate the Proposed Owner’s place of birth as indicated on the birth certificate
Note that place of birth is used in the Medical Information Bureau (MIB) record verification.
Sex Reminder: It is important that correct sex or gender is indicated in the Proposal as same information will be carried over to the application and will not be editable. Carefully tick the Proposed Owner’s sex. Correct sex must be indicated to ensure correct computation of premium
Weight and Height a) Weight – Indicate weight in lbs. or in kilograms
b) Height – Indicate height in feet and inches or in meters
No need to indicate height and weight information of Proposed Owner if PC rider is not included
Nationality a) Indicate the Proposed Owner’s nationality
b) If not a Filipino, a valid Alien Certificate of Registration (ACR), I-Card or Investor’s Visa must be submitted to
determine status of stay. If the type of visa is not shown in the I-Card, a photocopy of the Visa as stamped in the customer’s passport should be submitted
c) A Foreigner’s Questionnaire may also be required on a case-to-case basis.
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Occupation a) Indicate Proposed Owner’s occupation. If the Proposed Owner has a secondary occupation, this information
should also be indicated.
b) Give description of the occupation such as position or job title and a brief details of exact duties and responsibilities
c) If self-employed or Proposed Owner has a business, the nature of business must be indicated in the Distributor’s Confidential Report
Proposed Owner’s Occupation (if with PC Rider) has a bearing on risk selection and classification. The Underwriter determines if the occupation has a greater-than-average risk of illness or accident. Hence, a detailed description of occupation must be specified in the Amendment Form or Distributor’s Confidential Report”.
Reminder: It is important that correct occupation is indicated in the Proposal as same information will be carried over to the application and will not be editable.
Identity No. (TIN/SSS/GSIS) This information is used to further establish the identity of the Proposed Owner. The complete and correct SSS/GSIS/TIN should be indicated whenever such information is available. This item is not applicable should the Proposed Insured be a juvenile.
Address a) Residence Address – Indicate the Proposed Owner’s residence address. Provide the necessary zip code to
avoid lost mails. Residence Address should be a Philippine Address (in reference to cross-border rule). b) Business Address – Indicate the Proposed Owner’s work or office address. Provide the necessary zip code to
avoid lost mails.
Reminder: P.O. Box is not an acceptable residence or work address
Preferred Mailing Address Indicate the preferred mailing address by selecting between residence and business address
Reminder: Metrobank Branch or AXA Sales Office address will not be allowed unless the Policy Owner is an MBTC
personnel, an employee in our Sales Office, an Advisor or Financial Executive.
Contact Details
a) Home / Business Phone Number – Indicate the applicant’s home and/or business phone number if available
b) Mobile Number – Indicate the Proposed Owner’s mobile number (Mandatory)
c) E-mail Address – Indicate the Proposed Owner’s e-mail address
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Relationship of Proposed Owner to Proposed Insured
This is necessary in order to establish the insurable interest of the Owner on the life of the Proposed Insured. It is required by law that insurable interest should exist between the Owner and the Proposed Insured. Otherwise, the case shall be kept pending and a change or deletion of Owner shall be required.
Contingent Owner Upon Death of Owner
This is necessary should the Proposed Insured be a minor. In the event that the Owner dies and the Insured remains
to be a minor and no contingent Owner has been designated, the law stipulates that the ownership of the policy is
automatically transferred to the minor insured. In view of the minor’s lack of legal capacity, future transactions will
not be honored until the minor reaches the age of majority.
In case where the Proposed Insured is of legal age but a different Owner (other than the Proposed Insured) has
been designated, we recommend that the Proposed Insured be designated as Contingent Owner. With this, we can
then provide the adult insured the rights over the policy contract upon the death of the Owner.
Relationship of Contingent Owner to Proposed Insured
Indicate the relationship of the contingent owner to the Proposed Insured. Insurable interest should exist between
the Proposed Insured and the contingent owner. Otherwise, case shall be kept pending and a change or deletion
of the contingent owner may be required.
Source/s of Funds
Select all applicable sources of funds such as: a) salaries; b) income from business; c) savings; d) others <must
specify>. This is useful information related to knowing where the Proposed Insured’s funds came from.
Is the Proposed Owner a US Citizen or US Tax Resident?
Indicate if the Proposed Owner is a US Citizen or US Tax Resident. If yes, US TIN/SSS must be provided or
indicated in the Home Office Endorsement and Special Instructions under Section 12 of the application form
3. BENEFICIARY DESIGNATION
For ease and convenience, the customer may opt to choose and designate standard beneficiaries or he/she may opt to specify the name of his/her beneficiaries. The customer should choose only either one of these options.
Standard
In case the customer opts to choose “Standard”, beneficiaries shall be the surviving persons designated to receive
the death benefits, in the following order of preference:
1) Spouse 2) Children (legitimate and illegitimate) 3) Parents 4) Estate
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For this option, there is no need to indicate the name of the beneficiary. Unless otherwise indicated, designation is deemed revocable and benefits shall be equally divided among all persons in the same category.
By Name
a) Name, Date of Birth, Relationship to Proposed Insured – Should the customer opt to designate his/her
beneficiaries’ by name, the complete name of the beneficiary, date of birth, and relationship to Proposed Insured, benefit %, and type of beneficiary should be indicated.
b) Benefit % – Unless otherwise indicated under Benefit %, surviving beneficiaries in the same classification will
equally share in the benefits
c) Type of Beneficiary – is considered as optional information. Unless otherwise indicated, beneficiaries shall be deemed as “primary revocable”.
To designate an irrevocable beneficiary, customer needs to write down the names of irrevocable beneficiaries
under Home Office Endorsement and Special Instructions.
It is usually not advisable to designate a minor as beneficiary in view of the following reasons:
Minor, if designated as irrevocable, is still unable to give valid consent to any transaction on the policy; where
such consent is required, the minor would need representation by a guardian. Therefore, an affidavit of guardianship will be required for living benefit transactions, as the proceeds still belong to the Policy Owner like policy loan, surrender, changes in benefit, etc.
When a death claim is filed under the policy, whether the minor is revocable or irrevocable, court appointed guardian will be required.
Reminder: Ensure that designated beneficiaries have insurable interest on the life of the Proposed Insured. Co-ownership of a bank account does not establish insurable interest.
4. BASIC PLAN DETAILS
Click on the circle for the premium type and currency of the plan being applied for. Indicate the sum insured or the
Single Premium, plan name, payment term and years to mature (as deemed applicable).
Reminder: It is important that correct basic plan details are indicated in the Proposal as same information will be carried over to the application and will not be editable.
5. SUPPLEMENT DETAILS (Not Applicable for Guaranteed Issue Offer)
Click on the circle for the rider/s being applied for and indicate the sum insured or benefit type, preferred payment
term, and maturity if applicable
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If the rider is not included in the options, click on the circle for “others” and indicate rider name and the sum insured
Reminder: It is important that correct supplement or rider details are indicated in the Proposal as same information will be carried over to the application and will not be editable.
6. CONVERSION TO TERM INSURANCE
This section is for conversion of any existing basic term plan or term rider plan to any regular term paying plan of
the same currency.
Indicate the policy number of existing individual term plan or the Certificate No. of the group term plan to be
converted
*No need for client to submit a separate Policy Amendment to request for Term Conversion unless the beneficiary in
the Term Policy to be converted is “Irrevocable”
7. PAYMENT INSTRUCTIONS
Mode of Payment Client may select Annual, Semi-Annual, Quarterly, and Monthly modes except for single-pay plans – only monthly mode is allowed
Reminder: For ALL monthly mode payments (except single-pay plans), it is mandatory for client to elect
premium payment through Automatic Debit Arrangement (ADA), Post-dated check, or Credit Card
Method of payment
a) If method of payment is ADA, the ADA Form should be thoroughly completed. The ADA form should be
signed by the accountholder and Owner.
Limitations as stated in the ADA form shall apply.
Reminder: ADA is not allowed for single-pay and USD denominated regular-pay plan
b) If Credit card, the Credit Card Enrollment Form should be completed.
Reminder: Premium cap is set to PHP 200,000 annualized premiums for both Visa and MasterCard.
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c) Postdated checks (PDC) may also be used as a method of payment for renewal premiums.
However, the initial payment should be made in cash or through a currently dated check. The PDC
should bear the correct premium and should be submitted to the Branch Operations Specialist or Cashier
only after the case has been approved. A copy of the PDC Acknowledgment Receipt should be
submitted to Underwriting to facilitate case issuance.
The following PDCs should be submitted after case the case has been approved by Underwriting:
Monthly mode –11 PDCs
Quarterly mode – 3 PDCs
Semi-Annual mode – 1 PDC
8. DIVIDENDS/ ENDOWMENTS AND PREMIUM DEFAULT OPTIONS (For Traditional products only)
Dividend/Endowment Option – Click on the circle for the client’s preferred dividend option
a) Accumulate with interest
b) Apply to premiums
c) Pay in cash
Reminder: By default, if no dividend or endowment option is selected, the option to accumulate with interest will apply
Premium or Non-forfeiture Option – Click on the circle for the client’s preferred premium option
a) Extended Term Insurance (ETI)
b) Reduced Paid Up (RPU)
c) Automatic Premium Loan (APL)
Premium or Non-forfeiture option is not applicable for term plan regular pay
Reminder: If no premium default option is selected, the applicable default option for the plan will apply
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9. DETAILS FOR VARIABLE INSURANCE
Click on the circle as deemed appropriate:
Top-up – Regular top-up Lump Sum Top-up
Death Benefit – Level Increasing
Fund Name – Indicate the applicable fund allocation and ensure that the fund name and allocation matches the
information in the proposal.
Fund allocation should total to 100%
Reminder: It is important that fund name/s and % allocation are correctly indicated in the Proposal as same information will be carried over to the application and will not be editable.
10. DECLARATION OF PROPOSED INSURED AND OWNER (if Payor’s Clause is applied for) (Not Applicable for Guaranteed Issue Offer)
Client need to answer the questions by selecting Yes or No. All questions must be truthfully answered even
if the client is subject to undergo a full medical exam. This will enable the Underwriter to completely and thoroughly
evaluate the case and avoid piece-meal requirements.
In case of a “Yes” answer, provide details such as the nature of illness, operation or treatment, date, duration,
severity, results of any medical test done, and complete name of attending physician, clinic, or hospital.
11. REPLACEMENT OF EXISTING LIFE INSURANCE POLICIES
This section refers to possible policy replacement. If answered “yes”, have the client complete the Replacement Notification Form.
12. HOME OFFICE ENDORSEMENT AND SPECIAL INSTRUCTIONS
This portion may be used to indicate any special instructions from the client such as:
a) Designating irrevocable beneficiaries
b) Identifying the case as part of multiple application
c) Special mailing instruction
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13. DECLARATIONS AND AGREEMENT
Ask the client to carefully read all the declarations stated in this portion before he/she signs the application form.
On page 5 (Guaranteed Issue Offer) or page 6 (Full Underwriting):
Indicate the place and date when the application form was signed by the Proposed Insured/Owner. The signature
of the Proposed Insured and/or Owner must be affixed in the space provided for.
The Distributor’s name, signature and code should be affixed / indicated in the appropriate portion.
14. TELEPHONE AND UNDERWRITING AUTHORIZATION
This section is a request for authorization that will allow AXA Philippines to call the Proposed Insured/Owner to clarify or gain additional information regarding client’s application for life insurance.
To signify consent for Tele-underwriting, indicate client’s preferred time to receive a call.
15. REQUEST FOR DIRECT CREDIT TO BANK ACCOUNT
This section is a request for authorization that will allow AXA Philippines to directly credit proceeds of the application/policy to the account holder’s bank account for cases such as:
Return of new business deposit due to cancellation and declination Return of excess new business deposit
16. DISTRIBUTOR’S CONFIDENTIAL REPORT (Client Details)
This portion should be thoroughly completed as this is another vital tool in the risk assessment.
Ensure that the client’s sources and amount of annual income are indicated. Considering that our Distributors perform financial needs analysis to determine the amount and type of insurance product to offer to the applicant, it is expected that this information is known to the Distributor and should therefore be fully disclosed in this portion of the application form. Answers such as “Confidential or Not disclosed” are discouraged and may result to deferment of approval until such information is supplied. Also, this information will also impact the amount of AXA Care that will be granted along with the total amount of insurance.
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17. DISTRIBUTOR’S CONFIDENTIAL REPORT (Declaration)
Distributor should then affix his/her name and signature to confirm/certify the following: a) Has fully explained to the applicant the possible implications of replacing an existing life insurance policy/policies
b) Has not given inaccurate or misleading information or statements other than those given in the section on
Replacement of Existing Life Insurance Policy/Policies by the applicant
c) That the applicant’s contact details provided in the application do not belong to the Distributor/s
d) Has asked all relevant questions to sought necessary information and conducted necessary investigation on the Proposed Insured and/or Owner in compliance with Anti-money Laundering laws, Market Conduct Guidelines for AXA to arrive at a sound and equitable assessment of this application
e) Has personally seen the Proposed Insured and/or Owner and have verified his/her identity at the time of signing of application
18. CREDIT CARD ENROLLMENT FORM This section is to be completed if the client’s preferred method of premium payment is credit card. This will allow AXA Philippines to charge the credit card account as indicated in the form for subsequent premium payments.
Refer to the Declaration and Reminders on the back portion of the Credit Card Enrollment Form
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IV. OTHER DOCUMENTS TO BE SUBMITTED WITH THE APPLICATION FORM
To expedite the approval of new business applications, the following documents should be submitted together with the application form: 1. Completed payment slip and validated Deposit Slip
2. ADA Form – if the mode of payment is via Auto-Debit Arrangement. Use ADA form specified by the Bank
Initial premium should be paid in cash or a currently dated check may be used.
ADA is not allowed for Single Pay and dollar plans. (Refer to Auto-debit facility guidelines under Business Rules section) 3. Credit Card Form – if the initial and renewal premiums shall be paid via credit card. Credit Card as payment method is
allowed for dollar-denominated plans
(Refer to Credit Card facility guidelines under Business Rules section)
4. Signed proposal form – The proposal should be signed by the Owner. A complete set of the proposal should be submitted. The proposal is typically valid for 3 months from the date it was printed.
5. Product Transparency Declaration Form – required for all VLIP
6. Acknowledgment of Variability – required for Traditional plans and other VLIP cases (as announced by Marketing or
Customer Experience)
7. Valid ID – 1 valid primary or 2 secondary IDs is/are required for all applications. Client should affix 3 specimen signatures on the photocopy of the ID. The FE/Advisor should then indicate “signature verified and original copy seen” and affix his/her signature.
With regards to acceptable IDs, please refer to a copy of the Compliance Bulletin labeled “Annex A”.
Clients name, birth date, and signature in the application form should be consistent as shown in the photocopy of his/her
valid identification.
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The amount and type of medical information to be obtained from the client may be based on the following:
Age and amount of cover (depending on non-medical limit of Distributor)
Declarations on medical conditions or history
Family History
MIB
Build
Occupation / Lifestyle
The medical list below maybe part of routine requirement as required at various age and amount levels, personal declaration in the application, or findings in MIB. Certain type of occupation may also necessitate Underwriter to require medical test to rule out any possible implications as brought about by the lifestyle associated with the occupation. In addition to a pre-determined list of routine tests, reflex tests may also be required when certain trigger tests are abnormal. These reflex tests help to confirm if certain conditions may or may be present. Refer to examples below:
Trigger Reflex
Elevated Hemoglobin and Hematocrit in CBC Peripheral Blood Smear
Positive HBsAg HBeAg, Anti-HBc, Anti-HBc, IgG, Anti-HBc + AFP
Elevated Cholesterol Triglycerides, LDL, HDL
It is important to note that depending on the case, certain tests may be required that is not included in the list. Nevertheless, these tests are still necessary in order to arrive at a decision that is both acceptable to the Company and deliverable by the Distributor.
MEDICAL REQUIREMENTS
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I. MEDICAL TESTS
Test Description Scope Purpose
1. FME Full Medical Examination
Medical history taking Physical examination Complete regional survey of the
head, neck, chest, abdomen, extremities, pelvis and rectal area.
Examination of the heart including taking of blood pressure and pulse rate.
Measurement of height, weight, chest and abdominal circumference
For female clients, breast inspection and palpation.
Percussion and palpation of the liver
Provides the basis for the
assessment of the health
condition of the applicant as
revealed in the medical
history and physical findings
noted by the medical
examiner.
2. MUR
Urinalysis Urine evaluation is done through the use of sophisticated computerized machine which subjects the specimen sample automatically to a series of testing and then issues a result print-out. This is more common among big clinics and hospitals.
This provides chemical analysis, specific gravity, ph, and presence of protein glucose, bacteria, white blood cells and red blood cells. Urinalysis can reveal diseases that have gone unnoticed because they do not produce striking signs and symptoms. Example: Diabetes Mellitus, various forms of glomerulonephritis, and chronic urinary tract infection
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Requirement Description Scope Purpose
3. ECG
No preparation
needed for this test.
All metal based objects on the body (coins, ring, watch, etc.) should be removed
Electrocardiogram The cords of an ECG machine, with lead tips, are placed on the chest and extremities and electrical activity of the heart is recorded as tracings.
To provide indication on any
variation in the rhythm and
conduction activity of the
heart.
3.1 Stress ECG Treadmill Stress
Test (TMST)
ECG taken during and after applicant has engaged in a strictly defined amount of exercise
Signals potential future heart
problems
The test can show if the
blood supply is reduced in
the arteries that supply the
heart.
4. CXR Chest X-ray A radiological examination of the chest taken while in a standing position
To provide indication on any
deviation from the normal
measure or configuration of
the lungs and heart;
presence of diseases may
also be detected like
pulmonary tuberculosis,
cardiomegaly (“big heart”),
etc.
5. Blood
Examinations
A 12-hour fasting
should be observed
prior to blood
collection
Fasting means
nothing by mouth
for the whole length
of time required
Preferably done in the morning
A blood collection
for chemistry
examination or
analysis
Blood sample is extracted from a vein in the arm. This sample is used to do the various tests required
To provide indication on the
presence of any health
disorder/ impairment on
specific target organs
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Requirement Description Scope Purpose
5.1 HbA1c Glycohemoglobin
**Blood extraction
for this test is done
only in the morning
following overnight
fasting.
Blood sample is extracted from a vein in the arm to measure the average level of blood sugar or glucose in the blood over the previous 3 months.
To provide the average level
of blood sugar (glucose) over
the previous 3 months. It
shows how well diabetes is
being controlled.
5.2 BUN
Blood Urea
Nitrogen
Blood sample is extracted from a vein in the arm to measure the amount or level of urea nitrogen in the blood that comes from the waste product urea
To provide indication on the
presence of kidney disorder
or to check how well the
kidney is working. If kidneys
are not able to remove urea
from the blood normally, the
BUN level rises.
A BUN test may be done with
a blood creatinine test.
5.3 Creatinine Creatinine Blood sample is extracted from a vein in the arm to measure the amount or level of creatinine in the blood
To provide indication on the
presence of kidney disorder
or to check how well the
kidney is working.
Creatinine is removed
entirely from the body by the
kidneys. If kidney function is
not normal, creatinine level
increases in the blood. This
is because creatinine is
released through the urine.
5.4 Cholesterol Part of lipid profile
**Blood extraction
for this test is done
only in the morning
following overnight
fasting.
Blood sample is extracted from a vein in the arm to measure the level of cholesterol in the blood
To provide indication of the
likelihood of developing heart
problem or presence of
endocrine problem.
If cholesterol is high,
additional tests may be
performed such as LDL,
HDL, and Triglycerides
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Requirement Description Scope Purpose
5.5 UA Uric Acid
Blood sample is extracted from a vein in the arm to measure the amount or level of uric acid in the blood
To provide indication of
presence of a systemic
inflammatory disorder,
kidney, or endocrine
problems.
Most uric acid dissolves in
blood and travels to the
kidneys. From there, it
passes out in urine. A high
level of uric acid in the blood
is called hyperuricemia.
5.6 CBC
Complete Blood
Count
Blood sample is extracted from a vein in the arm to measure number of RBC and WBC count, amount of hemoglobin, and hematocrit in the blood.
To provide indication of blood
disorders such as anemia in
which may be related to
certain medical condition.
5.7 SGOT/AST
Part of Liver
Function Tests
Blood sample is extracted from a vein in the arm to measure the amount or level of AST enzyme in the blood
To provide indication of
presence of liver disease.
AST enzyme is primarily
found in the cells of the liver,
heart, skeletal mucsles,
kidneys, pancreas, and to a
lesser extent, in red blood
cells. It is a less specific
"liver enzyme" than
ALT/SGPT.
The test is done along with
other tests such as
SGPT/ALT and/or GGTP
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Requirement Description Scope Purpose
5.8 SGPT/ALT Part of Liver
Function Tests
Blood sample is extracted from a vein in the arm to measure the amount or level of ALT enzyme in the blood
To provide indication of liver
damage.
It also occurs in small amounts in cardiac and skeletal muscle and in the kidney but is much more specific to the liver than AST/SGOT
The test is done along with
other tests such as
SGPT/ALT and/or GGTP
5.9 GGPT Part of Liver
Function Tests
Blood sample is extracted from a vein in the arm to measure the amount or level of GGT enzyme in the blood ALT enzyme is almost exclusively found in the liver
To provide indication of liver
disease of bile ducts.
The test is done along with
other tests such as
SGPT/ALT and SGOT/AST
It is also done to screen or
monitor alcohol abuse
5.10 HIV Human
Immunodeficiency
Virus
AIDS Test
* We use the test for
screening only
Blood sample is extracted from a vein in the arm to check for presence of HIV
To provide indication of
presence of this virus in the
body
5.11 HBeAg
Hepatitis B e-
Antigen
Hepatitis B test through blood sample extraction
Indicative of highly infectious
state and active replication of
the Hepatitis B virus
5.12 HBsAg
Hepatitis B Surface
Antigen
Hepatitis B test through blood sample extraction
HBsAg is a marker of
infectivity. Its presence
indicates either acute or
chronic HBV infection
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Requirement Description Scope Purpose
5.13 Anti-HBC IgG Antibodies for
Hepatitis B core
antigen
Hepatitis B test through blood sample extraction
Indicative of past infection or
HBV carrier status; the
significance depends on the
HBsAg and Anti-HBs results
5.14 Anti-HBC IgM Antibodies for
Hepatitis B core
antigen
Hepatitis B test through blood sample extraction
Positivity indicates recent
infection with HBV (less than
or equal to 6 months)
5.15 AFP Alpha-feto protein Blood sample is extracted from a vein in the arm to measure the amount of AFP in the blood
Used in screening/detection
of primary liver cancer
Tumor Marker for Hepatoma
5.16 PSA Prostatic Specific
Antigen
Blood sample is extracted from a vein in the arm to help diagnose and monitor prostate cancer
Used in screening/detection
of prostate cancer
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II. MEDICAL QUESTIONNAIRES / CLEARANCE
Various client questionnaires are designed to give the underwriter a clearer picture of what condition a client has and will greatly help in the risk appraisal. Supplementary questionnaires may be requested to further clarify information obtained in the application. The questionnaire should be signed by the applicant as it will form part of the application.
There may be instances when it may be helpful to obtain more specific and detailed information from the attending physician. Depending on the severity of these conditions, Underwriting Questionnaires may even replace an Attending Physician’s Statement requirement.
Client’s Asthma Questionnaire Declaration of asthma attack experience, triggers,
and last asthma attack Declaration of consultations, treatments, or hospital
confinements
Client’s Diabetes Questionnaire Declaration of having had, been told to have, or
have been treated for diabetes, “high blood sugar” (hyperglycemia), or “sugar in the urine” (glycosuria)
Declaration of having undergone any diagnostic test related to DM (e.g., FBS, GTT, etc) in the past
Client’s Chest Pain Questionnaire
Declaration of having had, been told to have or been treated for any chest pain, or any type of coronary artery disease (e.g., angina, ischemia,etc.)
Client’s Hypertension Questionnaire Declaration of having had, been told to have, or
been treated for hypertension
Attending Physician’s Questionnaire
May be required from the applicant’s Attending Doctor with regards to the applicant’s medical history
Pediatrician Statement Form Required for juvenile with total aggregate sum at risk of > PHP 2 million or its USD equivalent (Only for Distributor’s with Standard or PHP 8M NM Limit)
May be required if current build is abnormal for age May be required if with adverse medical condition or
history
OB-Gynecologist Clearance Required for pregnant Proposed Insured or Proposed Owner (if with PC rider)
The Distributor is encouraged to have these forms available in the field so that at any instance that related declarations in
the application are made as described above, he/she can at the same time request the client to fill up the applicable
questionnaire. By doing this, an additional step and consequent delay in the process is avoided.
Medical Clearance/Questionnaires are not limited to the above.
Other Questionnaire/s may be required depending on the case.
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III. INSTANCES WHEN ADDITIONAL MEDICAL TESTS ARE REQUIRED One of the usual irritants between the Advisor/Financial Executive and the underwriter is the situation generally termed as “piecemeal” or “installment” underwriting, whereby additional requirements are asked one after the other. The usual question asked by the Distributor is “why can’t the underwriter order these requirements all at one time?” To put things in proper perspective, some of these seemingly “whimsical” ordering of requirements are brought about by the following conditions: SCENARIO 1: No adverse medical declaration in the application form but with adverse declaration on the Medical Examination form
e.g. A 29-year-old female did not have any “YES” answer to the medical questions in the application form. The application
was supposed to be non-medical but because applicant is overweight, FME/MUR were required. On medical examination
by the physician, she revealed that she had perforated appendicitis, which resulted in adhesions and complications, resulting
in the cutting of a part of her small intestine. She was hospitalized for two months. This clearly indicates that underwriting
would need the hospital records and the attending physician’s statement in contrast to it being just plain appendectomy,
which is not rated. If such information were declared in the application, the additional requirement of Attending Physicians
Statement (APS) and copies of hospital records could have been asked along with the FME/MUR the first time around.
SCENARIO 2: Result of the initial medical examination showed findings that needed a follow-through look into related or other impacted medical conditions in order to make a better underwriting evaluation.
e.g. Urinalysis of a 46-year-old male applicant who claims to be not diabetic showed glycosuria (sugar in the urine). To have better underwriting assessment of the client, an oral glucose tolerance test is requested.
SCENARIO 3: Result of the initial medical examination pointed to an application either being postponable, or substantially ratable, with the additional examination intended to either corroborate, (contribute to the confirmation of the condition), mitigate, (degrade the graveness of the condition), or refute (make irrelevant the initial finding). Ordering of additional medical requirement is sometimes a recourse that the underwriter takes instead of conveniently rating up the application without a reasonably complete or definitive basis.
e.g. Fasting Blood Sugar (FBS) result of a 28-year-old applicant showed an elevated value of 290 mg/dl. This indicates a very highly substandard rating, and may even be postponed or declined if there are other medical problems related to the hyperglycemia. To be able to evaluate this case better, a glycosylated hemoglobin (HbA1c) level is requested. HbA1c is the most important index of control of blood sugar. It represents a moving average of the blood glucose levels over a 3-month period. Unlike blood glucose levels which vary over a 24 hour period as what comes out of an FBS test, HbA1c rises and falls slowly and is unaffected by recent glucose intake. If the HbA1c level of this applicant is normal, rating is substantially reduced and applicant is accepted for insurance.
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The type of non-medical information to be obtained from the client may be based on the following:
Total aggregate sum insured or exposure with AXA or other companies
Client’s avocation
Beneficiary designation
Foreign Residence (including FATCA)
Underwriting Rules on various classes of clients
Business Rules (e.g. policy replacement, term conversion)
Others
I. FINANCIAL EVIDENCES The purpose of financial underwriting is to:
Ensure that the life insured's beneficiaries are not put in a better position by the death, critical illness, or disablement of the life insured, than by his or her ongoing survival
Minimize the 'moral' risk; this can be defined whereby the effecting of a policy of life insurance, by itself, increases the extra mortality or morbidity associated with that life. This will usually be reflected in the risk of murder, suicide or the faked death of the life insured, or the risk of a 'living benefit' claim, generally early in the policy lifetime
Minimize the risk of lapse and/or early surrender of the policy
Promote the brand name of the insurer by fitting the cover to a need so that the policy does not have to be revalidated at claim stage
NON-MEDICAL
REQUIREMENTS
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The following documents may be obtained from the client for financial underwriting:
Large Amount Questionnaire Declaration of client’s financial standing specific to the client’s assets and liabilities, family lifestyle, bank deposits and investments, income for the last 3 years, purpose of insurance, etc.
ITR Annual Income Statement as filed with the Internal Revenue
Audited Financial Statements
Contains Balance Sheet, Income Statement, Cash Flow Statement, and Auditor’s Report
An in-house financial statements may be required if the audited financial documents are not sufficient to make an offer
Others Bank statements, proof of investments, land titles, and other sources of income and net worth proof
General Information Sheet (GIS) – to show extent of client’s ownership to the business
Detailed Needs Analysis to verify how the amount of coverage being applied was determined
Copy of approved loan
II. AVOCATION The following avocation questionnaires may be obtained from the client:
Aviation Questionnaire Required for those who engage in flying or piloting an aircraft (except for commercial pilots)
Diving Questionnaire Required for those who engage in scuba/skin diving, and deep sea diving
Motor Sports Questionnaire Required for those who engage in circuit racing, drag racing, formula racing, karting, rallies, speedway, stock car racing, time trials, etc.
Mountain Climbing Questionnaire Required for those who engage in any forms of mountain climbing
Avocation Questionnaires are not limited to the above. Other
Questionnaire/s may be required depending on the case.
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III. BENEFICIARY DESIGNATION
Beneficiary designation should be in such a way that no one can mistake the intention of the policy owner as to who should
receive the insurance proceeds.
The following requirements may be asked in relation to beneficiary designation:
Adopted child – Legal adoption papers
Beneficiary other than Legal Spouse, Children (Natural), Parents, Siblings, Grandparents, Grandchildren
- Distributor’s report to explain or provide a valid insurable interest between Proposed Insured and Beneficiary
- Amendment to Application Form to delete or change beneficiary if there is no insurable interest between
Proposed Inured and Beneficiary
Business Partnership Insurance wherein the beneficiary is the business partner – Refer to Business
Partnership Insurance requirements under Various Classes of Clients
Creditor as beneficiary – Copy of approved loan document
Fiancé / Fiancée as beneficiary – Fiancé / Fiancée Beneficiary Designation Questionnaire
Fringe Benefit wherein the Employer is the Payor, Policy Owner, and Beneficiary – Refer to fringe benefit requirements wherein the Employer is the Payor, Policy Owner, and Beneficiary under Various Classes of Clients
Keyman Insurance – Refer to Keyman requirements under Various Classes of Clients
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IV. FOREIGN NATIONALS Temporary residents are defined as 'foreign nationals’ who are residing outside their usual domiciled country. Examples of such may include employment assignment or students.
The following requirements may be asked in relation to foreign residence rule:
ACR I-Card – is a microchip based credit card sized identification card issued to registered foreigner replacing the paper-based ACR. It has an embedded computer chip with biometric security features capable of data management and can be updated electronically. I-Card is a project of the Bureau of Immigration to enhance its capability against international terrorism, transnational crimes and international drug trafficking by advancing its capability in identifying and tracking alien residents through the I-Card’s microchip. I-Card is fraud and tamper-proof/resistant with the following information: - Personal information such as name, age, date of birth, place of birth, etc. - Photograph - Date and status of admission - Visa type issued/ date issued / expiry date - Biometric information (FINGERPRINTS) - Signature - ACR and ICR/NBCR/CRTV/CRTT/CRTS/CRPE - Travel details - Payment of immigration fees details
Foreigner’s Questionnaire – contains declaration of reason for acquiring AXA life insurance plan, contact details in the country of origin, details on bank accounts, business, properties, investment in the Philippines.
US TIN/SSS – for U.S. Citizen or U.S. Tax Resident (For Proposed Owner)
V. VARIOUS CLASSES OF CLIENTS
Refer to underwriting requirements under Various Classes of Clients
VI. BUSINESS RULES
Refer to underwriting requirements under Business Rules
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I. RULES ON VARIOUS CLASSES OF CLIENTS Underwriting is a process that an insurance company employs in order to assess a potential client’s eligibility for coverage. Underwriters are responsible for evaluating the risks associated with insuring clients. Underwriters are responsible for evaluating the risks associated with insuring clients. The underwriter will decide if the client is too much of a risk to insure and whether the company can accept that risk.
Every client is different. The level of associated risk varies for each client depending on the age, gender, occupation, residence, and other risk factors. Hence, the underwriting guidelines and requirements will also differ, but the purpose remains the same and that is to properly classify clients into the appropriate risk class.
JUVENILE
Depending on the Distributor’s NM limit, a Full Medical Exam or a duly completed Pediatrician’s Statement is a routine requirement for Proposed Insured with actual age of 12 months and below with the following total aggregate sum insured: Provisional NM Limit – All Cases Standard NM Limit – Above PHP 2M
The legal age is 18 (actual age NOT insurance age), thus at this age an individual has the legal capacity to enter
into a contract and there is no need for an applicant / owner. For a proposed insured younger than 18, there has to be a separate applicant / owner
All children in the family must generally be insured and done so for the same face amount.
Maximum accidental death coverage regardless of family status, the amount of insurance on the parents, etc. shall be PHP 5M (per life)
Maximum critical illness coverage shall be PHP 5M (per life)
Where an adopted child is designated as proposed insured, a copy of the adoption papers should be submitted.
UNDERWRITING GUIDELINES
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Where the child was taken from his/her parents right after birth and was consequently christened and registered
under the adoptive parents’ name, such manner of adoption is considered illegal. Therefore, to protect the child and in line with good business practice, the child can only be designated as a beneficiary. Otherwise, the child should not be accepted as a proposed insured and case should be declined accordingly.
Where the amount of life and accident insurance applied for on the child is over PHP 2,500,000 or its USD
equivalent, at least one parent must be insured for the same amount. In the absence of such counter-insurance, case may be accepted on a case to case basis.
The amount of insurance on the child cannot exceed the amount of life insurance on the parent. It is recommended
that other siblings have an equal amount of life and accident insurance. FEMALE
Pregnant applicants are acceptable for up to 9 months and may be accepted at standard rates provided an OB Clearance is submitted. The OB Clearance should state that the pregnant applicant is having a normal pregnancy and didn’t have any complications in previous pregnancies.
If with history of pregnancy related complications, case will be postponed until 2 months after delivery. Upon re-
application, a medical certificate stating that the client is then in good health must be submitted together with the
new application form.
For female applicants who recently gave birth, they can be accepted at standard rates anytime.
Rules on females working at home, in family owned businesses or who are plain housewives:
Sum Insured Condition
(a) Up to P2,500,000 The husband need not be insured
(b) > P2,500,001 to
3,000,000
Can only be considered if husband is insured, in which case the maximum amount
of insurance will be the amount of insurance on the husband’s life or 3 times the
husband’s annual income, whichever is greater
(c) P3,000,001 to
4,000,000
Can be considered if the husband is insured by at least this sum or if the wife has
her own personal property with an estate tax liability of at least this much.
(d) Over P4,000,000 May be considered on a case to case basis provided that the amount of coverage is
justified.
Riders may be allowed
Other cases may be accepted as deemed appropriate by the Underwriting Department.
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OVERSEAS FILIPINO WORKERS (OFW) / FILIPINO IMMIGRANT
The application must be signed at and any medical requirements done in Philippine territory.
Foreign residence extra on life and riders may be applied depending on the individual risk profile of the country where they are assigned. Refer to Foreign Residence Underwriting Guidelines.
Resident workers in politically unstable countries are declined
Occupational rating on life and riders may apply. Refer to Occupation Underwriting Guidelines
FOREIGN NATIONALS
Factors to be considered are:
Purpose and duration of stay in the country
How long likely to stay in the Philippines
Marriage to a Filipino national
Nature of occupation or business
A minimum duration of 1 year stay in the Philippines is required
Complete address of country of origin may be required
Alien Certificate of Registration or Investor’s Visa or I-card is required to be submitted with the application. If the type of visa is not shown in the I-card, a photocopy of the Visa as stamped in the customer’s passport or a duly-completed Foreigner’s Questionnaire should be submitted
Foreign Residence Guidelines will also apply
If at any time during the application processing, it is discover that the proposed insured is holding fictitious travel
documents, we will immediately decline the application.
MUSLIMS
Application from Muslim applicants will be treated like any other application
No rating will be imposed in view of religious affiliation
The amount of coverage for Muslim applicants shall be assessed based on its own merits.
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POLITICIANS
Accidental Death & Dismemberment (AD&D) and Waiver of Premium on Disability (WPD) riders are not allowed
Politicians will be accepted with an extra rating of 5 per thousand.
The maximum total coverage on any life shall be as follows:
Senator PHP 15 to 25 Million or its USD equivalent
Politicians from Metro Manila Area PHP 15 to 25 Million or its USD equivalent
Politicians from Provincial Area PHP 5 to 10 Million or its USD equivalent
Barangay Officials PHP 1 Million or its USD equivalent
* The maximum coverage based on geographical location refers to the place where the politician has been duly elected.
Applications on the lives of politicians will not be accepted 6 months before and after elections
Immediate relatives of politicians who are not actively part of the politician’s career may be accepted at standard rates and without a coverage limit.
PHILIPPINE NATIONAL POLICE AND ARMED FORCES OF THE PHILIPPINES
AD&D and WP riders will not be granted
An occupational extra shall be imposed as follows:
For Commissioned Officers (Lieutenant, Major, Supt, etc) an occupational extra of 5 per thousand will be imposed. For Non-commissioned officers and enlisted men (Sergeant, SPO1, Private, etc.) an occupation extra of 10 per thousand will be imposed. Bureau of Fire Protection Officers (Inspectors, etc) an occupational extra of 2.50 per thousand will be imposed Bureau of Fire Protection Non – commissioned officers an occupational extra of 3 per thousand will be imposed Philippine Air Force flying personnel an occupational extra of 7.50 per thousand will be imposed
ENTERTAINERS AND SEAMAN
Routine requirements: HIV or pre-employment medical exam with HIV within 12 months
Occupational extra will be charged depending on client’s designation/duties or nature of work
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MINDANAO RESIDENTS
New business applications coming from the following areas, where the prevailing socio-political situation is currently
unstable, will automatically be declined:
(Refer to complete list of declined areas under Annex L)
1. Basilan;
2. Sulu Province;
3. Tawi-Tawi;
4. Parts of Lanao del Norte that are declinable are a. Kauswagan b. Magsaysay c. Manai d. Pantao Ragat
5. Parts of Lanao del Sur that are declinable are:
a. Bacolod Grande b. Balabagan c. Balingis d. Ganassi e. Piagapo; f. Poona Bayabao g. Saguiaran h. Tamparan
6. Parts of Maguindanao that are declinable are:
a. Barira b. Buldon c. Kabuntulan d. Mamasapano e. Maganoy f. Matanog g. Shariff Aguat
7. Parts of North Cotabato that are declinable are:
a. Aleosan b. Carmen c. Pikit
8. Entire Sultan Kudarat is declinable but we may accept applicants from:
a. Tacurong b. Isulan c. Quirino d. Esperanza e. Datu Paglas
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9. Entire Zamboanga del Sur is declinable but we may accept applicants from:
a. Aurora b. Buenavista c. Dumalinao d. Dumingag e. Guipos f. Kumalarang g. Lakewood h. Legarda i. Mahayag j. Margosatubig k. Midsalip l. Molave m. Pagadian City n. R. Magsaysay o. San Miguel p. San Pablo q. Sominot r. Tambulig s. Tukuran
10. Entire Zamboanga del Norte is declinable but we may accept applicants from:
a. Dapitan b. Dipolog c. Jose Dalman d. Katipunan e. La Libertad f. Labason g. Liloy h. Manukan i. Mutia j. Pinan k. Polanco l. Pres. Manuel A. Roxas m. Rizal n. Salug o. Sergio Osmena Sr. p. Sibutad q. Sindangan r. Tampilisan
11. Entire Zamboanga Sibugay Province, is declinable but we may accept applicants from: a. Alicia b. Buug c. Diplahan d. Imelda e. Ipil f. Kabasalan g. Malangas h. Titay
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N.B. As Zamboanga City is not part of Zamboanga del Norte nor Zamboanga del Sur, hence, residents from this area
are acceptable.
New business coming from acceptable areas may be accepted at standard rates (in view of residence only). Riders will also be allowed. This is to highlight that this set of limitations is far more liberal than the usual industry practice of applying the restrictions on a provincial level. What have been done here is to define the restrictions on a town/municipality level in order not to unduly affect other locations where the prevailing situation may be considered normal. This list is temporary and subject to change depending on further developments in Mindanao.
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II. FINANCIAL UNDERWRITING GUIDELINES Financial Underwriting is the analysis of the motivation behind the purchase of insurance and the ability to continue to pay renewal premiums. It is also a part of the selection process which is concerned with anti-selection (speculation).
Anti-selection is the tendency of people with greater than average likelihood of loss to apply for insurance to a greater extent
than do other people.
The purpose of financial underwriting is to:
Ensure that the life insured's beneficiaries are not put in a better position by the death, critical illness, or disablement of the life insured, than by his or her ongoing survival
Minimize the 'moral' risk; this can be defined whereby the effecting of a policy of life insurance, by itself, increases the extra mortality or morbidity associated with that life. This will usually be reflected in the risk of murder, suicide or the faked death of the life insured, or the risk of a 'living benefit' claim, generally early in the policy lifetime
Minimize the risk of lapse and/or early surrender of the policy
There are several possible outcomes of the financial underwriting process. These include:
Full acceptance of the application as proposed
Reducing the sum insured and/or the term of the cover
Declining the cover, especially where a moral risk is present
REASONABLE AMOUNTS OF INSURANCE – LIFE BENEFIT
1. Personal Insurance Principle: Family protection is the fundamental reason for life assurance, from which all other types of cover
have arisen. Personal and family protection should always be put in place before considering the need for other types of insurance. Cover is intended to match the loss of potential future income caused by the premature death of the households’ main wage earner or breadwinner.
Sum assured guidelines: Usually a simple multiple of annual salary over the working life, limited to a maximum of 25yrs. The decreasing nature of the multiple indicates that the number of years of potential earnings decrease with age.
AGE MULTIPLE OF ANNUAL GROSS EARNED INCOME
Up to 49 25
50-59 15
60-64 10
65 and above 7
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2. As a means for estate tax protection
Principle: Intended to protect the applicant’s estate so that upon death all inheritance taxes or death duties
are met by the policy.
Sum assured guidelines: The sum assured should be based upon estimated inheritance tax liability at the time of underwriting. This is calculated by taking the current value of assets, less liability, and making allowance for any inheritance tax relief. Any amount that exceeds the threshold is taxed at rates decided by the government. The final tax liability figure equals the sum assured. The liability is in theory the maximum insurance amount that shall be covered.
Beneficiary/ies should be designated as irrevocable.
3. As a means of mortgage protection (Commercial loan protection-life)
Principle: Intends to protect a lender, usually a bank from financial loss upon the premature death of a borrower.
Sum assured guidelines: The total sum assured should not exceed the loan amount. Decreasing term insurance is commonly used. The sum assured matches the loan amount and the duration of the life insurance coverage is equal to the loan repayment term.
Underwriting requirements are:
1. The borrower applies for a policy with the creditor as irrevocable beneficiary 2. The plan of insurance may take any form as long as the coverage will last until the loan is repaid 3. The amount of coverage need not be limited to the amount of the loan 4. Only the outstanding balance of the loan at the time of death of the insured will go to the creditor and the
remaining balance will go to the immediate relatives. As such, the beneficiary designation should include the following qualification:
"Name of the creditor, as its interest may appear, otherwise, to the members of the
immediate family of the insured (the proposed insured must indicate specific names and
relationship to the beneficiaries)"
5. Copy of the approved loan document
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AFFORDABILITY CHECK
Affordability refers to the client’s ability or capacity to purchase subject to financial resources and applicable requirements. Conducting a proper affordability assessment is an essential requirement in granting insurance coverage in order to:
Ensure continuous viability of the insurance coverage to the Insured
Protect the Company (AXA) from adverse effects of low persistency (due to lapsation) and possible legal penalties
In determining affordability, there are a number of factors to consider in assessing the case:
Age
Source(s) of Income – Is the source valid and coming from a regular source e.g. salary
Source(s) of Premium Payments or Invested Funds – Is the source coming from savings, income from spouse
(if proposed insured is housewife), retirement benefit, borrowed funds, others?
Total Living Expenses/Obligations – What are the client’s monthly regular expenses, debts/obligations, and
allotment for savings, emergency, or retirement fund?
Employment – Is the client’s occupation permanent/regular, self-employed, others?
In calculating affordability, refer to the rules below:
Regular Premium Paying Plans:
a. Use annual income in calculating or determining qualifications for affordability.
b. The coverage is considered to be affordable if total payable regular premium amount (existing policies and
current application) is within 20% of the current annual income.
Single Premium Plans:
a. Use current total asset value excluding borrowed funds (e.g. cash deposits in banks, money market
accounts, actively traded stocks, bond, mutual funds, treasury bills, account receivables within the year, and
other assets which can be easily converted into cash)
b. The amount is considered to be affordable if the currently applied single premium amount is less than 80% of
the current total asset value
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FINANCIAL UNDERWRITING REQUIREMENTS (ROUTINE)
COMPUTATION OF AGGREGATE SUM INSURED/SINGLE PREMIUM FOR ROUTINE FINANCIAL
REQUIREMENTS:
There are two ways to compute. Use the one with the higher aggregated amount.
1) Sum Insured:
Basic Life* + Term Rider + 50% of Critical Illness + All in-force insurance in AXA Philippines regardless when
the policy was issued (exclusive of DMTM policies)
*If Single premium = Amount of Single Premium x 25%
2) Single Premium:
Amount of Single Premium + Amount of Single Premium from all in-force SP plans
Inspection Report (IR) will be done by an independent party contracted by AXA Philippines
For underwriting purposes, conversion rate for dollar policies is set at US$1=PhP40. This is subject to change.
Further evidence may be required on a case-to-case basis
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BUSINESS CONTINUITY PLAN
Business Continuity Insurance Plan is an insurance plan designed to enable a business owner or owners to provide for the
business' continued operation if the owner or key person dies. A key person is any person or employee whose continued
participation in the business is necessary to the success of the business and whose death would cause the business
significant financial loss.
It is intended to serve the insurance needs of the business rather than those of the individual. It is third-party insurance. The
proposed insured is generally not the applicant and will not be the policy owner if a policy is issued. To have a valid insurance,
insurable interest must be present. For business purposes, an insurable interest is a business relationship that will cause
the beneficiary to profit from the continuance of the life insured or to suffer a loss upon the premature termination of life.
The beneficiary, that is, a business entity, has an insurable interest in a proposed insured up to the economic value or interest
it has in that person. This interest may take the form of the proposed insured's percentage of ownership of the firm, the
expertise the individual contributes to making the firm more profitable.
1. Keyman Insurance
The principle here is that the value of the investors’ shares in the business and the future prospects of that business are protected, rather than the investors receiving a refund of investment while continuing to own a part of the business. For this reason, the policy should be for the benefit of the company and not of the investors. Reasons for Keyman insurance:
1. Replacement of profit 2. Provide financial stability; reassure creditors, banks, and customers of continuation of the business 3. Recruit and train a replacement 4. Maintain credit rating, asset value Underwriting requirements are:
1. Notarized Board Resolution or Secretary’s Certificate (refer to “ANNEX E” for a specimen copy) approving the
insurance program for its keyman employees. It should state the plan and amount of coverage for each of the
employees, the name of the employer’s authorized signatory; and the authority for the company to enter into an
agreement with AXA Philippines to carry out the insurance program.
2. Photocopy of the authorized signatory’s valid ID clearly showing the signature. On the photocopy of the ID,
the distributor should declare that he/she has seen the original copy.
Note: For the corporation’s best interest, the signatory should be other than the Proposed Insured.
3. Photocopy of all the board members’ (those who signed the board resolution) valid ID clearly showing their
signature or the Corporate Secretary’s valid ID. On the photocopy of the ID, the distributor should declare
that he/she has seen the original copy.
4. Audited financial statement in the last two (2) years
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5. Certificate of Employment showing the annual income of the Keyman (maximum amount of coverage is 5X
the Keyman’s annual income)
6. SEC Certificate of Registration of the corporation and by-laws
For Cooperatives:
Cooperatives are not registered and are not regulated by SEC. They fall under the regulatory
supervision of the Cooperative Development Authority (“CDA”). Under the Philippine Cooperative
Code of 2008 (as amended), cooperatives must be registered with the CDA. Before Cooperatives are
given their Certificates of Registration, they need to submit their Articles of Cooperation (“AOC”) and
By-laws to the CDA. Once the Certificates of Registration have been issued, they acquire juridical
personality.
Hence, for Cooperatives, submit CDA Certificate of Registration, AOC and By-laws. This should take
care of underwriting requirement in lieu of the SEC Certificate of Registration and By-laws.
7. Certification from the corporation identifying its Keyman and the description of the Keyman’s role in the
organization 8. Except for term rider, riders are usually not allowed
9. Owner of the policy should be the corporation
2. Business Partnership Insurance / Buy Sell Insurance
Life insurance is used to protect and maintain the value of a business in case of death or disability of a partner.
Upon the death or long-term disability of a partner, insurance can provide for the transfer of a deceased or disabled
partner's interest to the surviving partner according to a predetermined formula. Funding can be achieved in 2 ways:
2.1 Cross Purchase Plan
Each partner buys insurance on the lives of the other partners. The beneficiaries are the surviving partners who
intend to use the proceeds to buy out the deceased's interest. This plan can become complicated when there are
more than two partners. For example, if there are four partners, partner A will buy insurance on the lives of partners
B, C, and D. The procedure would be repeated with partners B, C, and D. Total policies would be 12.
2.2 Entity Plan
Due of the number of policies required, the entity plan is most often used for buy-and-sell agreements by larger
partnerships. The partnership owns, is beneficiary of, and pays the premiums on the life insurance of each partner.
When one of the partners dies, the partnership as a whole purchases the deceased partner's interest. Premiums
are not tax deductible as a business expense. If whole life insurance is used, the cash values are listed as assets
on the balance sheet of the partnership and are available as collateral for loans
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Underwriting Requirements are:
1. Proof of business partnership showing percentage of ownership e.g. SEC Certificate of Registration and By-Laws and General Information Sheet
2. Partnership Buy Sell Agreement or Memorandum of Agreement (refer to “ANNEX F” for a specimen copy) among the partners which should include the following provisions:
a) The setting of a purchase price to be paid for a deceased partner's share, stated as a specific peso amount.
The value of each partner's interest in the business as determined at the time of the agreement will be acceptable as a reasonable amount of insurance. The underwriter may also base the reasonableness of the amount of insurance on the net worth or partners' equity and net income;
b) A partner cannot dispose of his interest in the business without first offering it to the partners at the contracted price;
c) Each partner binds himself and that of his estate that the latter will sell his share to the company upon his
death at the agreed upon price.
d) All partners shall be insured (to prevent speculation or anti-selection).
3. Photocopy of the valid IDs with clear signature of all the business partners. FE/Advisor should declare that
he/she has seen the original copy.
4. Audited financial statement in the last three (2) years which will be used to ascertain if the business is an on-
going concern. This will also be used to evaluate the value of each partner’s interest in the business
FRINGE BENEFIT
Many employers offer their employees, as part of their remuneration package, benefits such as: Life cover, critical illness as well as pension provision and health insurance.
These arrangements are known as group schemes, whereby a group of lives is insured on the same basis. As the benefits are directly related to salary or particular categories of employees, there are concessions on the underwriting, both medically and financially.
There are three (4) acceptable variants:
1. The Employer is the payor and policy owner; the immediate members of the family of the employee are the
designated beneficiaries.
Underwriting requirements are:
1. Notarized Board Resolution or Secretary’s Certificate (refer to “ANNEX B” for a specimen copy) approving the insurance program for the employees; name of the employees being insured, the plan and amount of coverage for each, employer’s authorized signatory; and the authority for the company to enter into agreement with AXA Philippines to carry out the insurance program
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2. Photocopy of the authorized signatory’s valid ID clearly showing the signature. FE/Advisor to certify that
he/she has seen the original copy 3. Photocopy of all the board members’ (those who signed the board resolution) valid ID clearly showing their
signature or the Corporate Secretary’s valid ID. FE/Advisor to certify that he/she has seen the original copy.
4. The application form should be signed by the company’s authorized signatory
5. Audited financial statement in the last two (2) years
6. Employer has a good reputation. For this purpose background investigation maybe conducted.
7. Coverage may be for any permanent or term insurance plan.
AD and D, WP riders are not allowed if the beneficiary is the employer or the company. Riders are allowed for cases wherein the designated beneficiary/ies are/is the employee’s family member/s.
2. The Employer is the payor, policy owner and beneficiary.
Underwriting requirements are:
1. Notarized Board Resolution or Secretary’s Certificate (refer to “ANNEX B” for a specimen copy) approving the insurance program for the employees; name of the employees being insured, the plan and amount of coverage for each, employer’s authorized signatory; and the authority for the company to enter into agreement with AXA Philippines to carry out the insurance program
2. Photocopy of the authorized signatory’s valid ID clearly showing the signature. FE/Advisor to certify that
he/she has seen the original copy
3. Photocopy of all the board members’ (those who signed the board resolution) valid ID clearly showing their signature or the Corporate Secretary’s valid ID. FE/Advisor to certify that he/she has seen the original copy
4. A notarized Undertaking (refer to “ANNEX C” for a specimen copy) executed by the Employer that in
consideration of the insurance company’s consent for it to be the designated beneficiary for all the insurance coverage of its employees, it shall pay and deliver the proceeds of the policy paid to and received by it from the insurance company to the employee or his beneficiaries. It shall likewise render the insurance company free and harmless from any further claims of the employee or his beneficiaries for benefits already paid by the insurance company to the employer
5. Audited financial statement in the last two (2) years
6. Employer has a good reputation. For this purpose background investigation maybe conducted
7. Coverage may be for any permanent or term insurance plan
8. AD&D rider is not allowed.
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3. The Employer is the policy owner; premium payment is shared by both the employee and the employer;
beneficiaries are the immediate family members of the employee
1. Notarized Special Power of Attorney (refer to “ANNEX D” for a specimen copy) executed by the employee
appointing his/her employer as attorney-in-fact
2. Photocopy of the employee’s valid ID clearly showing the signature. . FE/Advisor to certify that he/she has
seen the original copy
3. Photocopy of the employer’s valid ID clearly showing the signature. FE/Advisor to certify that he/she has seen
the original copy
4. Audited financial statement in the last two (2) years
5. Employer has a good reputation. For this purpose background investigation maybe conducted
6. Coverage may be for any permanent or term insurance plan
4 The Employee is the payor and policy owner; the immediate members of his family are his beneficiaries.
There will be no special underwriting requirement as the application will be processed and approved
as a regular application.
ACCIDENTAL DEATH AND DISMEMBERMENT BENEFIT (ADD)
This benefit provides for the payment of an additional amount, usually equivalent to the sum assured under the basic contract, on death as a result of an accident, up to age 65.
This benefit may be allowed up to a maximum of 5x the basic life plus term rider (if any) sum assured or 5x the single premium plus 5x the term rider (if any) sum assured but subject to an aggregate PhP5 million cap per life for juvenile and PhP10m for adult. This feature helps clients save money by taking out a policy which is largely AD& D rather than full life insurance. However, overly high sums assured may be reduced by the Underwriting Department to appropriate levels based on sound financial underwriting principle.
CRITICAL ILLNESS BENEFIT (CI)
This living benefit provides for the payment, usually equivalent to the sum assured under the basic contract, if insured is diagnosed to be suffering from any of pre-determined major illnesses as indicated in the contract.
This benefit may be allowed up to a maximum of 100% of the basic life plus term rider (if any) sum assured or 100% of single premium plus term rider (if any) sum assured. This maximum rule is further subject to an aggregate amount of PhP10 million cap per life for adult and PhP5m for juvenile from standard to substandard lives of +100% EM or Class D.
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III. BENEFICIARY DESIGNATION GUIDELINES
The beneficiary is the person designated by the insured to receive the death proceeds of the policy. An insurable interest of the beneficiary must be clearly established. Insurable interest exists if the beneficiary will suffer economic loss upon the death of the insured.
CLASSIFICATION ACCORDING TO PRIORITY
1. Primary – This beneficiary will have first priority in receiving the death proceeds of an insurance policy.
2. Contingent – This beneficiary will only receive the death proceeds if the primary beneficiary pre-deceases the insured and no other primary beneficiary had been designated anew.
CLASSIFICATION ACCORDING TO RIGHTS
1. Revocable – At any time while the policy is in force, the beneficiary may be changed (mere expectancy rights) and the policy owner may exercise any and every right on the policy without this beneficiary’s written consent.
2. Irrevocable –This beneficiary has vested rights over the policy and, therefore, the policy owner cannot exercise his rights over the policy without the written consent of this beneficiary.
Minor children (less than 18 years old) cannot give valid consent to any transaction. Hence, it is not recommended
to designate children as irrevocable beneficiaries to avoid problems in future policy transactions.
BENEFICIARY DESIGNATION
A beneficiary designation should be in such a way that no one can mistake the intention of the policy owner as to who should
receive the insurance proceeds.
1. The given name and surname and the relationship to the insured must be supplied
2. For minor beneficiary, the date of birth may be indicated
3. For 2 or more persons as designated beneficiaries, the shares of the proceeds must be ideally specified for each beneficiary usually expressed as fraction or percentage rather than the absolute amounts. In the absence of any stipulation, benefits shall be shared equally by all of the named beneficiaries.
In general the following are acceptable to be designated as beneficiaries:
1. legal spouse 2. children, natural or legally adopted 3. parents 4. siblings 5. grandparents & grandchildren
N.B. Common law partner should not be designated as beneficiary.
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The customer may also opt to choose “Standard Beneficiary” wherein the persons designated to receive the death proceeds
shall follow the order of preference as shown below:
1. spouse 2. children 3. parents 4. siblings 5. estate
N.B. If no designated beneficiary is indicated in the application, Underwriting will assign Estate as a default beneficiary
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I. HOW APPLICATION BECOMES SUBSTANDARD
CONTRIBUTORY FACTORS
1. Due to current medical condition Example:
A 41-year-old applicant with a history of treatment for hypertension and a Blood Pressure (BP) of 155/90 mmHg
on examination may have a substandard numerical rating of +50.
2. Due to personal history Example:
Applicant has a history of smoking since 15 years ago of at least one and a half packs per day revealed that he
was treated for asthmatic bronchitis a few months ago. This has a numerical rating of between +25 to +50.
3. Due to hazardous occupation Example:
A security guard who is assigned in a bank will be given an additional flat extra of P2.50 per thousand as
occupational rating.
4. Due to hazardous avocation Example:
An applicant has scuba diving for a hobby and dives at least twice a month up to a depth of 150 feet. He has a
formal training and is always accompanied when he goes diving. This requires permanent extra of
P3.00/thousand.
5. Due to Residence Example:
An applicant who is working as an overseas worker in Turkey will be given a permanent flat extra of 2/M or 2 per
thousand on life coverage and any rider is deemed as declined.
UNDERWRITING
METHODOLOGY
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THE TABLE RATING METHOD
The majority of life ratings are based on the table rating system, which assumes that each factor influencing mortality can be
represented by a debit or a credit for unfavorable or favorable consideration, respectively. The typical standard risk receives
a classification of 100% and each factor, which alters the basic mortality, is expressed numerically as a percentage of the
standard mortality. The debits and credits are then added or subtracted from the basic 100% and rounded, where
appropriate, to establish the final rating.
An applicant’s medical, financial, and personal characteristics that have a favorable effect on mortality are assigned “minus”
values (such as –25) and are called credits. The net effect of credits is to lower the number indicating an applicant’s predicted
percent of standard mortality. Therefore, the lower a proposed insured’s numerical value, the lower the risk he represents to
the insurer. If an applicant maintains a desirable weight, does not use tobacco, has no family history of certain diseases, he
may be assigned credits.
In contrast, an applicant’s medical, financial, and personal characteristics that have an unfavorable effect on mortality are
assigned “plus” values (such as +25) and are called debits. The net effect of debits is to increase the number indicating an
applicant’s predicted percent of standard mortality. In other words, the higher a proposed insured’s numerical value, the
greater the risk he represents to the insurer. If an applicant has suffered complications from recent surgery or is overweight
he may be assigned debits.
The underwriter determines the amount of debit and credit corresponding to the medical condition presented by referring to
the underwriting manual of our reinsurer.
Combining debits and credits with the basic standard value of 100 will produce the numerical value of the risk presented by an individual applicant.
RISK CLASSIFICATION TABLE
Rating Extra Mortality Total Mortality Rating Standard +0 - 100% Class A +25% - 125% Class B +50% - 150% Class C +75% - 175% Class D +100% - 200% Class E +125% - 225% Class F +150% - 250% Class G* +175% - 275% Class H +200% - 300% Class I* +225% - 325% Class J +250% - 350% Class L +300% - 400%
Class P +400% - 500%
Note: *Class G and I are not used in RLS, should the risk classification fall under said classes, the Underwriter may
opt to classify the risk using the higher or lower class depending on the various identified risk factors. Example for
Class G, the Underwriter may re-classify case as Class F or Class H depending on the risk factors involved.
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Example: Mr. Juan de la Cruz’s medical records indicate that he has a slightly enlarged heart. The underwriter assigns a debit of +100 to such impairment, indicating that a person with this type of impairment represents 200 percent of the mortality rate for standard risks (100 points representing standard mortality plus 100 points representing the additional risk), and is rated as substandard Class “D”.
THE FLAT EXTRA PREMIUM METHOD
The Flat extra premium method is an approach to charging for substandard risks which provides that, for every PHP 1,000 of insurance coverage, a specified extra peso amount will be added to the standard premium. The flat extra premium method is used mainly in cases involving extra mortality that is considered to be either constant or decreasing with age. This method contrasts with the table rating method, which is used in cases involving extra mortality that is expected to increase with age.
Two (2) Types of Flat Extra Premium Method:
1. Temporary Flat Extra Premium – which is an amount added to the premium for impairment for which the extra mortality risk is expected to decrease and eventually disappear over a limited time period
2. Permanent Flat Extra – is an amount charged for cases in which a non-medical risk is expected to remain
constant throughout the life of the policy. This type of rating is commonly used for hazardous occupations, avocations, and foreign residence carrying an extra risk.
UNDERWRITING DECISION RELATED TO SINGLE PREMIUM PLANS In terms of risk assessment, the underwriting approach for Single Premium plans is basically the same with all other plan types. However, the final underwriting decision is quite unique as it can only be either of the following:
a. Standard b. Postponed c. Declined
With regard to whether a Single Premium plan can be considered standard, all substandard cases are referred to Actuarial for approval or acceptance. The underwriting approach on Single Premium plans may change from time to time or as deemed necessary.
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II. TELE-UNDERWRITING
DEFINITION Tele-underwriting is a process in which a recorded telephone interview is used to gather risk-related information directly from the Proposed Insured or Proposed Owner. GUIDELINES
The customer should sign the Authorization for Tele-Underwriting in the application form to signify consent for AXA to perform tele-underwriting
Tele-underwriting should be done during the customer’s preferred time.
For cases where the aggregate sum insured is beyond the distributor’s non-medical authority and FME will be a routine requirement and the needed information can actually be obtained during the FME, tele-underwriting should no longer be done
Tele-underwriting may be done on the following non-exhaustive list of Customer’s details where clarification is
needed:
Non-Medical Medical
Customer’s Name Musculoskeletal System
Date of Birth Hypertension
Contact Details (Phone No. and E-mail Address) Body Build
Mode of Payment Medical Check-up Details (Reason/Tests/Result)
Residential or Business/Work Address Medical history as noted in MIB
Mailing Address Clarify medical declaration in the application
Occupation Details Clarify declaration in Medical Questionnaire
Business or Employer’s Name Others
Nature of Business
Plan Details (Basic/Rider/Top-up/Sum-Insured)
Fund Name and Allocation
Credit Card or Auto-debit Details
Source’s of Income
Beneficiary
Policy Replacement Question
Insurable Interest
Clarify declaration on Underwriting Questionnaire
Others
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III. HOW TO CALCULATE AGGREGATE SUM ASSURED
In determining routine medical and financial requirement, the Underwriter as well as the Distributor must be able calculate
the correct aggregate sum assured. In calculating the correct aggregate sum assured, it is important to have the following
information:
1. Previous coverage of Proposed Insured with AXA Philippines
2. Plan
3. Type of Underwriting (Full, SIO, GIO Underwriting)
COMPUTATION OF SUM ASSURED FOR ROUTINE MEDICAL REQUIREMENTS
1. Zero Aggregation Rule (ZAR) This approach means that the Proposed Insured’s previous policies will not be aggregated. Only the sum assured
of current application will be aggregated and will be used to determine routine medical requirements.
The following scenarios will not qualify for ZAR:
1) GIO NB Applications
2) Health Max Plans
3) Multiple Applications (more than 1) regardless of plan, sum
assured, beneficiaries, fund names, allocations, etc.
4) If Proposed Insured has an existing pending application
How to qualify:
If the Proposed Insured has a total of 2 applications or policies (including the current application) in the last 6
months, then the Zero Aggregation Rule will apply on the latest application.
If in the last 6 months, the client has more than 2 applications or policies (including the current application), the
latest application will be rejected for Zero Aggregation Rule, and the six-month aggregation rule will apply.
If qualified, please refer to aggregation guidelines below:
Basic Life* + Term Rider + 50% of Critical Illness – Sum Assured of previous policies are excluded.
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2. 6-month Aggregation Rule This approach means that the Proposed Insured’s previous in-force policies or applications within 6 months,
including the sum assured of current application will be aggregated. The resulting total aggregate sum assured
will be used to determine routine medical requirements.
Basic Life* + Term Rider + 50% of Critical Illness + all in-force insurance in AXA Philippines within 6 months from
current date (exclusive of DMTM policies).
NOTE: * If XpresSave (Sum Insured x 2); If Single Premium (Single Premium x 25%)
3. Health Max
Health Max + all in-force Health Max insurance in AXA Philippines up to PHP 10,000,000 maximum cap
4. Simplified Issue Offer (Exentials Plans)
Follow Zero Aggregation Rule, if applicable. If reject for Zero Aggregation, proceed to one-year aggregation rule
subject to further cap of:
*Max of 10 Exentials Plans (Life, Savings, Health Exentials, Academic Exentials, Assure Max, Assure Health)
*If Health Exentials, Max of 2 Health Exentials Plans
NOTE: If XpresSave (Sum Insured x 2); If Single Premium (Single Premium x 25%)
*Maximum cap is regardless of when the policy was issued
5. Guaranteed Issue Offer (GIO)
(Single Premium x 25%) + all in-force insurance in AXA Philippines issued from year 2009 and onwards, exclusive
of DMTM policies (Basic Life* + Term Rider + 50% of Critical Illness).
GIO Rules:
GIO LIMITS:
GUARANTEED ISSUE OFFER (GIO) LIMITS FOR AMBITION X
ISSUE AGES MAXIMUM AGGREGATE SINGLE PREMIUM FROM YEAR 2009 AND
ONWARDS
MAXIMUM AGGREGATE NET AMOUNT AT RISK FROM YEAR
2009 AND ONWARDS AGES 0 - 60 PHP 60M or USD 1.5M PHP 15M or USD 375,000
AGES 61 - 70 PHP 30M or USD 750,000 PHP 7.5M or USD 187,500
NO previous history of declined, postponed, or rescinded application due to material misrepresentation i.e. concealment
NO previous history of substandard rating of more than +100 e.m. (or Class D) or temporary loading of more than 5/mille
Guidelines on declined residence and occupations shall apply
Restrictions on politicians such as deferment of applications 6 months before and after election shall apply
NOTE: * If XpresSave (Sum Insured x 2); If Single Premium (Single Premium x 25%)
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COMPUTATION OF PROPOSED SUM ASSURED FOR ROUTINE FINANCIAL REQUIREMENTS
There are two ways to compute. Use the one with the higher aggregated amount.
1) Sum Insured:
Basic Life* + Term Rider + 50% of Critical Illness + All in-force insurance in AXA Philippines regardless when the
policy was issued (exclusive of DMTM policies)
*If Single premium = Amount of Single Premium x 25%
2) Single Premium:
Amount of Single Premium + Amount of Single Premium from all in-force SP plans
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TABLE OF ROUTINE MEDICAL AND FINANCIAL REQUIREMENTS
Depending on the Distributor’s Non-Medical Authority limits, Non-Medical Tables below will be used (Standard NM Limits
and Provisional Non-Med limits) in determining routine medical requirements
Standard Non-Medical Limits
Provisional Non-Medical Limits
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Below Financial Underwriting Table will be used for financial aggregation:
Routine Financial Underwriting Table
LAQ - Large Amount Questionnaire
AFS - Audited Financial Statements for the past 2 years
ITR - Income Tax Return for the past 2 years
IR - Inspection Report
Large Amount Questionnaire may still be required on a case-to-
case basis even if the total aggregate financial sum assured is
less than PHP 10 million
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EXAMPLES OF CALCULATION OF AGGREGATE SUM INSURED FOR MEDICAL AND FINANCIAL
Example 1:
b. Current application Applicant’s issue age 45
Base plan Assure PHP 4,000,000
Riders Shield PHP 2,000,000
Protector PHP 1,000,000
Distributor has PHP 8,000,000 or Standard NMA Limits
c. Existing in force coverage - 1 in-force policy with Total Aggregate SI of PHP 5,500,000 within 6 months - No in-force policies with AXA beyond 6 months
d. Aggregating procedure
*Use Zero Aggregation Rule as the Proposed Insured has less than 3 policies (including current application)
with AXA within six months
Aggregate Sum Insured (Medical) = Assure + Shield + Protector
= PHP 4,000,000 + PHP 1,000,000 + PHP 1,000,000
= PHP 6,000,000
Aggregate Sum Insured (Financial) = Assure + Shield + Protector + In-force Policies with AXA
= PHP 4,000,000 + PHP 1,000,000 + PHP 1,000,000 + PHP 5,500,000
= PHP 11,500,000
e. Routine Requirements Medical – None Financial – Large Amount Questionnaire
Example 2:
a. Current application Applicant’s issue age 50
Base plan Life Basix PHP 5,000,000
Riders Shield PHP 3,000,000
Protector PHP 1,000,000
Secure PHP 1,000,000
Care (Premier)
Lump Sum Top-Up PHP 1,000,000
Regular Top-Up PHP 50,000
Distributor has PHP 8,000,000 or Standard NMA Limits
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b. Existing in force coverage - 2 in-force policies with Total Aggregate SI of PHP 6,500,000 within 6 months - No in-force policies with AXA beyond 6 months
c. Aggregating procedure
*Reject for Zero Aggregation since Proposed Insured has more than 2 existing policies (including current
application) with AXA. Six-month Aggregation Rule shall apply.
*Secure, Care, Lump Sum Top-up and Regular Top-up are excluded from Medical and Financial Aggregation
Aggregate Sum Insured (Medical) = Life Basix + Shield + Protector + In-force Policies w/ AXA w/in 1 year
= PHP 5,000,000 + PHP 1,500,000 + PHP 1,000,000 + PHP 6,500,000
= PHP 14,000,000
Aggregate Sum Insured (Financial) = Life Basix + Shield + Protector + In-force Policies with AXA
= PHP 5,000,000 + PHP 1,500,000 + PHP 1,000,000 + PHP 6,500,000
= PHP 14,000,000
d. Routine Requirements Medical – FME, ECG, BEX A Financial – Large Amount Questionnaire
Example 3:
a. Current application Applicant’s issue age 6
Base plan Axelerator PHP 1,000,000
Riders Shield PHP 1,000,000
Protector PHP 500,000
Secure PHP 1,000,000
PC Rider
Distributor has PHP 1,500,000 or Provisional NMA Limits
b. Existing in-force coverage - 1 pending application with Total Aggregate SI of PHP 500,000 within 6 months - 2 in-force policies with AXA beyond 6 months with Total Aggregate SI of PHP 1,000,000
c. Aggregating procedure
*Use Zero Aggregation Rule as the Proposed Insured has less than 3 policies/applications (including
current application) with AXA within 6 months
*Secure, PC rider are excluded from Medical and Financial Aggregation
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Aggregate Sum Insured (Medical) = Axelerator + Shield + Protector
= PHP 1,000,000 + PHP 500,000 + PHP 500,000
= PHP 2,000,000
Aggregate Sum Insured (Financial) = Axelerator + Shield + Protector + All in-force Policies with AXA
= PHP 1,000,000 + PHP 500,000 + PHP 500,000 + PHP 1,500,000
= PHP 3,500,000
d. Routine Requirements Medical – FME Financial – None
Example 4:
a. Current application Applicant’s issue age 56
Base plan Ambition X PHP 11,000,000 SP
Riders Protector PHP 1,500,000
Distributor has PHP 8,000,000 or Standard NMA Limits
b. Existing in-force coverage No existing coverage with AXA
c. Aggregating procedure
*Use Zero Aggregation Rule as the Proposed Insured has no existing policies with AXA
Aggregate Sum Insured (Medical) = Ambition X + Protector
= PHP 2,750,000 + PHP 1,500,000
= PHP 4,250,000
Aggregate Sum Insured (Financial) = Ambition X + Protector
= PHP 2,750,000 + PHP 1,500,000
= PHP 4,250,000
d. Routine Requirements Medical – FME Financial – Large Amount Questionnaire
(Large Amount Questionnaire is still required since the Total SP exceeded PHP 10,000,000)
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Example 5 – Health Max:
a. Current application Applicant’s issue age 25
Base plan Health Max 20-Pay PHP 2,000,000
Riders Secure PHP 2,000,000
Distributor has PHP 8,000,000 or Standard NMA Limits
b. Existing in force coverage - 1 in-force Health Max policy w/ Total Aggregate SI of PHP 9,000,000 - 1 Non-Health Max Policy w/ Sum Insured of PHP 2,000,000 issued beyond 1 year
c. Aggregating procedure
*Use Aggregation Rule for Health Max
*Secure is excluded from Medical and Financial Aggregation
Aggregate Sum Insured (Medical) = Health Max + All existing Health Max policies
= PHP 2,000,000 + PHP 9,000,000
= PHP 11,000,000
Note: Since Maximum Cap for Health Max is up to PHP 10M only, total
Health Max coverage will be reduced from PHP 11M to PHP 10M
Aggregate Sum Insured (Financial) = Health Max + All existing in-force coverage with AXA
= PHP 2,000,000 + PHP 11,000,000
= PHP 13,000,000
Note: Since Maximum Cap for Health Max is up to PHP 10M only, total
Health Max coverage will be reduced from PHP 11M to PHP 10M
d. Routine Requirements Medical – FME, BEX A Financial – Large Amount Questionnaire
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Example 6 – Simplified Issue Offer:
a. Current application Applicant’s issue age 30
Base plan Health Exentials (Starter) PHP 500,000
Rider (Packaged Rider)
Distributor has PHP 8,000,000 or Standard NMA Limits
b. Existing in force coverage - 2 Health Exentials Advance (PHP 750K) & Deluxe (PHP 1M) within 6 months
c. Aggregating procedure
*Reject for Zero Aggregation Rule as the Proposed Insured has more than 2 policies (including current
application) within 6 months
Aggregate Sum Insured (Medical) = Health Exentials + All existing policies within 6 months
= PHP 500,000 + PHP 1,750,000
= PHP 2,250,000
Note: Current Health Exentials Application is declined since total
number of Health Exentials including current application
exceeded the maximum limit of 2
Aggregate Sum Insured (Financial) = Health Max + All existing policies within 1 year
= PHP 500,000 + PHP 1,750,000
= PHP 2,250,000
d. Routine Requirements Medical – None Financial – None
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Example 7 – Guaranteed Issue Offer for ages 61-70:
a. Current application Applicant’s issue age 65
Base plan Ambition X (GIO) PHP 5,000,000 SP
Riders Not Applicable
Distributor has PHP 8,000,000 or Standard NMA Limits
b. Existing in force coverage - Assure – PHP 3,000,000 Total Sum Assured issued in 2008 - Flexi Protect – PHP 2,000,000 Total Sum Assured issued in 2009 - Ambition X (GIO) – SP 6,000,000 (NAR PHP 1,500,000) issued in 2013
c. Aggregating procedure
*Aggregate starting from plans issued from 2009 to present
Aggregate Sum Insured (Medical) = Ambition X GIO + All existing policies starting from 2009
= PHP 1,250,000 + (PHP 2,000,000 + 1,500,000)
= PHP 4,750,000
Note: Acceptable for GIO since total NAR did not exceed PHP 7.5M
Aggregate Sum Insured (Financial) = Ambition X GIO + All existing in-force policies with AXA
= PHP 1,250,000 + (PHP 3,000,000 + 2,000,000 + 1,500,000)
= PHP 7,750,000
d. Routine Requirements Medical – None Financial – Large Amount Questionnaire
(Large Amount Questionnaire is still required since the Total aggregate SP exceeded PHP
10,000,000)
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Example 8 – Guaranteed Issue Offer for ages 0-60:
a. Current application Applicant’s issue age 48
Base plan Ambition X (GIO) PHP 10,000,000 SP
Riders Not Applicable
Distributor has PHP 8,000,000 or Standard NMA Limits
b. Existing in force coverage - Assure – PHP 5,500,000 Total Sum Assured issued in 2009 - Axelerator – PHP 3,500,000 Total Sum Assured issued in 2010 - Life Basix – PHP 4,000,000 Total Sum Assured issued in 2010
c. Aggregating procedure
*Aggregate starting from plans issued from 2009 to present
Aggregate Sum Insured (Medical) = Ambition X GIO + All existing policies starting from 2009
= PHP 2,500,000 + (PHP 5,500,000 + 3,500,000 + 4,000,000)
= PHP 15,500,000
Note: Reject for GIO since total NAR exceeded PHP 15M
Aggregate Sum Insured (Financial) = Ambition X GIO + All existing in-force policies with AXA
= PHP 2,500,000 + (PHP 5,500,000 + 3,500,000 + 4,000,000)
= PHP 15,500,000
d. Routine Requirements Medical – None Financial – Large Amount Questionnaire
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I. WHAT IS REINSURANCE?
Insurance coverage for insurer is called reinsurance, which is broadly defined as a form of insurance that enables an insurer
to be indemnified, or paid, for covered losses claimed under insurance policies it has issued. In a reinsurance arrangement,
one insurer transfers a portion of risk to a second insurer, which accepts responsibility for paying part of the claims of the
first insurer in exchange for part of the premium. An insurer typically requests reinsurance coverage for especially large
amount or high-risk policies that the insurer has issued. When a policy has been reinsured the reinsurance coverage
reimburses the insurer for part of the policy’s benefits when they become due.
II. TYPE OF REINSURANCE
REINSURANCE BY TREATY
This is a method of reinsurance that is universally accepted. Under this method, a treaty contract is entered into between
the ceding company (the reinsured) and the reinsurer by which both parties are automatically bound in advance with respect
to any and all risks that fall within the scope of the agreement. The treaty contract sets out in detail the terms, conditions and
limitations, which are to govern the cessions, made by the ceding company and their acceptance by the reinsurer.
FACULTATIVE REINSURANCE
It is a method whereby the ceding company reinsures each risk or policy individually. The ceding company is under no
obligation to receive any particular risk. If it decides to reinsure, it is free to decide how much to retain, how much to reinsure,
under the terms it wishes to reinsure. On the other hand, the reinsurer to whom an offer is made, is likewise under no
obligation to accept and can decline.
Cases with total risk exposure of more than PHP 30,000,000 or its USD equivalent are referred to reinsurer for risk
assessment.
REINSURANCE
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I. BUSINESS RULES IN UNDERWRITING
DOCUMENT VALIDITY PERIODS
Documents Validity Period
FME, MUR, BEX, CXR, ECG, TMST 1 year*
Application Form 6 months**
Proposal 3 months
Large Amount Questionnaire 1 year
ITR and Audited Financial Statements 1 year provided these are the latest
IMDD 1 year
Inspection Report 1 year
Notes:
* Provided that these medical examinations yielded normal results
**An application can only be kept pending for 60 days except for substandard cases.
After which, the application will be closed and tagged as “Not Taken Out”. Extension maybe granted upon the request of the
distributor or as maybe deemed appropriate by the Underwriting Head.
RECONSIDERATION OF UNDERWRITING DECISION
1. Postponed/ Declined Cases
Applicants whose mortality risks are deemed unacceptable may be declined or postponed.
The entire amount of deposit made shall be refunded for declined or postponed cases:
a. For Postponed Cases - Period of Reconsideration is on a case–to–case basis, depending on the reason for postponement.
b. For Declined Cases - Period of Reconsideration is one year from the date of declination.
BUSINESS RULES
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2. Substandard Issued Policies
a. Reconsideration may be requested after one year from issue date.
b. Requirements that may be asked by Underwriting Department will be for the account of the Policy Owner
UNDERWRITING DATES
Below are the underwriting dates used in Underwriting:
Approval Date – refers to the date when the underwriter made a decision to accept the application based on the comprehensive information gathered through available Underwriting tools.
Policy Date – refers to the date when the insurance commences. As stipulated in the “General Provisions” of our contract, this is the date used to determine the policy years and policy anniversaries. This date is a default date in the life system and is usually equivalent to the “Approval Date”, but may be overwritten when there is a special request by the client to use a different date. This date is used interchangeably as “Effective Date” in the policy contract.
Issue Date – refers to the date when all Underwriting requirements had been complied with and the required premium payment had been applied. This date is a system-assigned date that appears on the left bottom portion of the “Policy Specifications” page and represents the date when the policy documents were printed. The “Issue Date” is the date when the business is credited as production.
Valuation Date – The Valuation Date of an Investment Fund is the day on which the net asset value, Bid Price and Offer Price of the Investment Fund are determined in accordance with the Valuation provision.
Rules on Underwriting Dates:
Policy Effective Date:
1. The effective date is the Underwriting approval date of the application.
2. Unless a specific request is made, the Effective Date is usually the date of approval of the application by the
Underwriter.
3. No Effective Date greater than the 28th of the month is used. Applications that are approved from the 29th to the end
of the month will have the 28th of that month as effective date.
4. For substandard cases, effective date is when the Underwriter made the decision to accept the application at
substandard rate or when the counter offer is accepted by the customer.
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Backdating:
1. Effective date may be dated back for up to 6 months, but not for the purpose of qualifying for the acceptance age.
2. Backdating is not allowed for policies with Shield and Care riders.
3. Backdating is not allowed for unit-linked policies and Health Max unless otherwise stated by the Underwriting Head.
UNDERWRITING FEES
For cases considered as cancelled (NTO or Incomplete) due to non-compliance of the underwriting requirements or non-
remittance of the required modal premium, cancellation fee*, medical expenses, and non-medical expenses (i.e. Inspection
Report expense) shall be charged to the Advisor or Financial Executive.
A charge of PHP 1,000.00 per case shall be imposed on cancelled (NTO or Incomplete) NB cases.
A full amount of medical and non-medical expenses incurred by AXA shall be charged.
* Cancellation fee amount is subject to change upon the Company’s discretion
PRE-UNDERWRITING:
Request for pre-underwriting is subject to the following conditions:
1. Must have a minimum amount of more than PHP 4,000,000 (or its USD equivalent) for single premium plans and
more than PHP 100,000 (or its USD equivalent) annualized premium for regular-pay plans per application.
2. Must be endorsed and approved by the Sales Director
3. Applicable underwriting fees shall apply for cancelled pre-underwritten application. See business rule on underwriting
fees
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CUT-OFF:
1. New Business Daily Cut-off Time
For a common reference, completed new business applications / e-applications /SFA2 applications, or compliance
requirements must be received by our BOS or at any of our offices on:
New Business Applications or Requirements Received on: Business Day Cut-Off Time
Business Days: Monday to Friday 3:00 pm
New business applications or underwriting requirements received
after the cut-off time or during weekends/non-working holiday
It would still be accepted at any AXA office but
considered received on the next business day.
2. Month-End New Business Submission Cut-off Dates All completed new business applications / e-applications /SFA2 applications, or compliance requirements must be
received by our BOS or at any of our offices on or before the month-end cut-off dates are guaranteed to be
processed.
EXCESS/SHORTAGE IN PREMIUM PAYMENT:
1. Traditional Plans
Shortfall:
Shortfall Amount Agency Bank Assure
Below or equal to P50.00 Charge to Company’s account Charge to Company’s account
More than P50 but within 5% of the
modal premium Charge to Advisor’s account To be paid by client
More than 5% of the modal
premium To be paid by client To be paid by client
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Excess payment:
Amount Credited to
>P10 to P100,000 Future Premium Deposit (FPD)
>P100,000 Automatic refund unless a written request from the
client to apply the excess amount to future premium
due is submitted.
N.B. Advance payment of future premiums is not encouraged.
2. Variable Life Insurance Products
Shortfall:
Amount Agency BankAssure
Equal to P50.00 (conversion is
based on the exchange rate on the
day of approval)
Charge to Company’s account Charge to Company’s account
More than P50.00 To be paid by client To be paid by client
Excess payment:
Excess payment of less than or equal to PhP50 or its dollar equivalent shall be credited as miscellaneous income for the
company whilst amount more than PhP50 shall be automatically refunded to the client. Form of refund is as follows:
1. Fund Transfer – a duly completed Request for Direct Credit To Account Form should be submitted 2. Cash Withdrawal 3. Cheque or Demand Draft (45 working days clearing)
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TERM CONVERSION
Except for Health Max, term plans can be convertible to traditional or unit-linked regular premium paying plans Policy may be converted anytime while the term policy is in-force and before the policy anniversary on which the
Insured is age 70 (except for Life Exentials Plan) The effective date of the converted (new) plan will follow the sum insured of the basic term or rider term plan or lower
with exception to the following cases:
For cases wherein the death benefit (DB) of the new plan is a percentage of the sum insured (e.g. endowment with DB = 200% of sum insured). The new sum insured will be adjusted such that the sum insured the term plan to be converted will be equal to the effective death benefit of the new plan
For cases wherein the required minimum sum insured of the new plan is higher than the sum insured of the basic
term or rider plan (e.g. Term Rider sum insured of PHP 200K will be converted to Life Basix with required minimum sum insured of PHP 400K)
On conversion, any increase in sum insured (basic or rider) or any additional riders are subject to underwriting
evaluation. If after underwriting evaluation, the Underwriter deemed that the resulting risk class is higher than the originally approved term plan/rider, only the original sum insured will be allowed for conversion
Converted term plan (basic) will not be considered as lapsed upon full conversion, hence, it should not have a
negative effect on Distributor’s persistency rating
If there has been a history of claim prior to conversion, WP cannot be attached to the converted policy
Minimum sum insured and minimum premiums for the converted policy should not be less than the existing minimum sum insured and minimum premium requirement of available permanent plans
Conversion to USD policies or single-pay plans is not allowed
No refund of excess premium shall be processed for Critical Illness (CI), Hospitalization, and Accident Riders under the Term Plan
For Life Exentials only: Life Exentials policy may only be converted without evidence of insurability to any permanent product specified by the Company after the 3rd policy anniversary, while policy is in-force and before the policy anniversary on which the Insured attained age is 45
Conversion of Term Insurance section in the application form (Full Underwriting) must be duly completed or a signed Policy Change Form stating the request to convert the term basic/rider plan must be completed in converting a term plan. If beneficiary/ies of plan to be converted is/are irrevocable, the irrevocable beneficiary/ies must sign the Policy Change Form
If the irrevocable beneficiary/ies is/are minor, a duly-notarized Affidavit of Guardianship must be obtained
The policy replacement guidelines will apply in case of any decrease in sum insured or deletion of existing riders if request for conversion happened within one year from effective date of term plan.
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IMDD ATTESTATION (For BankAssure Clients only)
IMDD Attestation is required on all pending applications (per owner) with the following scenarios: Single premium amount exceeds PHP 5,000,000 or its USD equivalent
Plan is Ambition X and 3GX (with guarantee of less than 80%). 3GX with at least 80% guarantee will not require an
IMDD attestation
Regular-pay plans with lump sum top-up amount exceeding PHP 5,000,000 or its USD equivalent IMDD validity is 1 year
PAYMENT FACILITIES
1. Auto-debit Facility
Auto-debiting of premium payment is set under the following schedule:
a. Premium payment shall be auto-debited from the client’s designated account on the 5th of the month for policies with 1st – 15th effective date
b. Premium payment shall be auto-debited from the client’s designated account on the 20th of the month
for policies with 16th – 20th effective date
Auto-debit is not allowed for dollar denominated plans
Auto-debit payment facility may only be used to pay for the policy premium of parent, spouse, children, brother, or sister.
Use of Company or Corporate account number to pay for policy premium of insured individual may be allowed
depending on the case and subject to the documents that would be required for Underwriting approval
Auto-debit facility is available for BDO, BPI, China Bank, Metrobank, and PNB account holders. Correct Auto-Debit Arrangement forms should be used as required by the bank.
a. For BDO, the Auto-debit Arrangement Form should be used BDO ADA Enrollment Form.pdf
b. For BPI, the Auto-debit Arrangement Form should be used BPI Enrollment Form.pdf
c. For China Bank, the Auto-debit Arrangement Form should be used China Bank Enrollment Form.pdf
d. For Land Bank, the Auto-debit Arrangement Form should be used LandBank ADA
Enrollment Form.pdf
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e. For Metrobank, the Payment Convenience Form should be used Convenient Payment Options Form.pdf
f. For PNB, the Auto-debit Arrangement Form should be used PNB_ADA_Form.pdf
2. Credit Card Facility
Credit card premium cap is set to PHP 200,000 annualized premiums, for both VISA and Mastercard straight
charge
Extend the acceptance of credit cards owned by our policy owners’ immediate family members --- spouse, parents or siblings – for Auto-pay facility. Together with the Credit Card Auto-Pay Enrollment, a back-to-back copy of the nominated credit card and a valid identification card of the cardholder should be submitted by the customer
II. LEGAL REQUIREMENTS OF UNDERWRITING
CHANGES IN THE APPLICATION
Once the application is submitted, any changes on the Application shall not be allowed unless the Proposed Insured and/or Owner properly sign the request for change. The Amendment to Application Form shall be used.
If proposed insured is already of majority age (18 years old and above), Amendment to Application Form should be
signed by both the Proposed Insured and Owner.
SUBSTANDARD LIVES
A counter offer letter shall be generated for all applications deemed substandard. Distributor may request a copy of the offer letter from Contact Center, Underwriting Department, BOS or HUBS.
A counter offer letter duly signed by the Proposed Insured or Owner together with the necessary additional premium
shall be required prior to case issuance or such may be waived as deemed appropriate. For cases where the substandard rating was already considered upfront as evidenced by the customer’s payment of the
complete modal premium or substandard rating resulted to minimal additional premium, the underwriter may opt to proceed and issue the case without a signed counter offer letter.
The counter offer letter shall be valid for 60 days from the date of the offer.
N.B. To expedite approval of substandard lives, submission of an Amendment to Application Form stating that client
accepts the additional rating/premium of his/her insurance application or deletion of certain riders maybe allowed
in lieu of a Counter Offer Letter.
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CANCELLATION OF THE APPLICATION
Cancellation of the Application may be effected upon:
a. Request. Cancellation shall be done upon receipt of Request Letter of Cancellation from the Proposed Insured and/Owner. For cases where no initial premium has been made, a distributor’s advice for cancellation may be allowed.
b. Automatic. Failure to comply with the Underwriting requirements within 60 days from the submission date will
make the application invalid. Case shall then be considered “Incomplete”
c. The entire premium paid by the Proposed Insured and/or Owner shall be refunded.
TEMPORARY LIFE INSURANCE COVERAGE (TLIC)
The Temporary Life Insurance Coverage (TLIC) shall apply to VLIP applications provided that the following conditions are met:
first modal premium has been paid
questions pertaining to temporary life insurance have been truthfully answered “NO”
all other required questions in the Application were answered completely and truthfully.
In the event that the application shall remain pending for more than 60 days from the date the application was signed due to non-compliance with the necessary underwriting requirements, this temporary life insurance coverage shall automatically be terminated.
POLICY REPLACEMENT
A replacement is defined as any transaction whereby life insurance is to be replaced in a single contract or in more than one
related contracts, as a consequence of which any existing contract of life insurance has been or is to be, within one year
before or after the issuance of the new coverage(s):
Rescinded; lapsed or surrendered; Changed to paid-up insurance or continued as an extended term insurance or under automatic premium loan; Changed in any other manner to effect a reduction of benefits; or Subjected to borrowing of the entire or almost the entire policy loan values, whether in a single loan or under a
schedule of borrowing over a period of time.”
The foregoing is the industry-wide definition of policy replacement, by which all life insurance companies in the Philippines
will be governed.
As such, the following transactions done in one or more related contracts within one year before or after issuance of a new
policy shall be considered as policy replacement:
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a) rescinded
b) lapsed
c) surrendered/ full withdrawal of the entire account value
d) changed to paid-up insurance
e) continued as an extended term insurance f) continued under automatic premium loan
g) changed in any manner to reduce benefit e.g. converted term policy with lowered coverage or deleted riders h) subjected to borrowing of the entire or almost the entire policy loan value i) under a schedule of borrowing over a period of time j) partial withdrawal of account value
A Replacement Notification shall be required for above cases and such will be subject for reporting.
For details, please refer to the Guidelines on Internal Replacement Policy below:
CEx Bulletin dated 30 July 2013 with reference no. 2013-013 – CExBulletin_2013_Policy Replacement.pdf
POLICY ISSUANCE
Policy contracts shall be delivered directly to client’s nominated mailing address as stated in the application form.
Metrobank Branch or AXA Sales Office address as billing address will not be allowed unless the policy Owner is an MBTC personnel, an employee in our Sales Office, an Advisor or Financial Executive
The policy fulfillment kit shall consist of the following: a. The contract itself b. Photocopy of the application form c. Photocopy of the Medical Exam form, if any d. Photocopy of the accomplished Underwriting Questionnaire/s, if any e. Endorsement, if any
The contents of the policy fulfillment kit may change from time to time subject to Management’s discretion.
FATCA
The Foreign Account Tax Compliance Act (FATCA) is a new US regulation that requires all financial institutions globally,
including AXA Philippines to report to the United States of America (US) tax authority (Internal Revenue Service, or IRS)
about their US clients. Under US tax law, persons that fall under the US tax regime (US persons) are required to report and
pay taxes on income from all sources worldwide. FATCA was designed primarily to combat offshore tax evasion by “US
persons”.
A US tax resident is someone who pays US taxes as if they living in the United States (note that a person does not need to
be living in the US to pay US taxes as if they were living in the US). The US taxes its citizens and residents on worldwide
income and assets. As a result, examples of a US tax resident are:
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US permanent resident US green card holder US resident Person living or working in the US (residence or business address) US citizen US passport holder
What to do if the Proposed Insured/Owner is a US Citizen or US Tax Resident?
1. Proposed Insured/Owner should confirm US Citizen or US Tax Resident status by answering “Yes” to the question below in the application form.
2. Proposed Insured/Owner to indicate his/her US TIN/SSS in the “HOME OFFICE ENDORSEMENT AND SPECIAL INSTRUCTION” portion of the application.
For an individual person, the TIN is the US SSN (US Social Security Number). If the customer does not have a
TIN, the customer can apply for one. There are instructions on the Form W-9 on how to apply for a TIN.
W-9 Request for TIN.pdf
What to do if the Proposed Insured/Owner answered “NO” to the FATCA question?
1. Distributor must ACTIVELY listen and look for conflicting evidence during conversation with the prospective customer and when reviewing all documents. At minimum, Distributor must look for the following US indicators: Citizen of the US
Resident of the US (resident, or permanent resident also known as “Green Card” holder)
Place of birth in the US
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Address in the US (mailing address, residence address, “in-care-of” address, “hold mail” address)
Telephone numbers in the US
Instructions of pay to an account in the US
Power of attorney or signatory authority granted to a person with a US address The following are sample scenarios:
Example 1: The customer has answered “No”. You review the documentation submitted with the application. He
has provided a copy of his German passport. In the German passport, you see the place of birth is “USA”. You are
responsible for noting this US reference and request for cure documents.
Example 2: The customer has answered “No”. You review the documentation submitted with the current application
and see the customer has provided a local ID and do not find any US indications. You review the credit check report
that was performed for the customer and see that he has bank accounts in the US. You are responsible for noting
this US reference and request for cure documents.
Example 3: The customer has answered “No”. You review the documentation submitted with the current application
and see the customer has provided a local ID and do not find any US indications. You review the AML report and
see a paycheck that has been mailed to a US address. You are responsible for noting this US reference request
for cure documents.
2. If any of the above US indicator is present, request for cure documents found in the table below:
US evidence/information
identified
Additional documentation to obtain
(“Cure Documents”)
US citizen or resident A withholding certificate and any valid Philippine government-issued ID (or any non-US government
ID.)
US place of birth (1) Any valid Philippine government-issued ID (or any non-US government ID and (2) a copy of the
individual's Certificate of Loss of Nationality of the United States,
or
(1) A withholding certificate, and (2 any valid Philippine government-issued ID (or any non-US
government ID, and (3) a reasonable written explanation of the account holder's renunciation of US
citizenship or the reason the account holder did not obtain US citizenship at birth.
US address or US mailing
address
A withholding certificate and at least one of the following:
Any valid Philippine government-issued ID (or any non-US government ID.
A certificate of residence issued by an appropriate tax official of the country in which the payee claims
to be a resident that indicates that the payee has filed its most recent income tax return as a resident
of that country.
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US evidence/information
identified
Additional documentation to obtain
(“Cure Documents”)
Only US telephone numbers A withholding certificate and at least one of the following:
Any valid Philippine government-issued ID (or any non-US government ID.
A certificate of residence issued by an appropriate tax official of the country in which the payee claims
to be a resident that indicates that the payee has filed its most recent income tax return as a resident
of that country.
US telephone numbers and non-
US telephone numbers
At least one of the following:
Any valid Philippine government-issued ID (or any non-US government ID.
A withholding certificate
A certificate of residence issued by an appropriate tax official of the country in which the payee claims
to be a resident that indicates that the payee has filed its most recent income tax return as a resident
of that country.
Instructions to pay amounts to US
account
A withholding certificate and at least one of the following:
Any valid Philippine government-issued ID (or any non-US government ID.
A certificate of residence issued by an appropriate tax official of the country in which the payee claims
to be a resident that indicates that the payee has filed its most recent income tax return as a resident
of that country.
Power of attorney or signatory
authority granted to a person with
a US address or “in-care-of”
address or “hold mail” address
At least one of the following:
Any valid Philippine government-issued ID (or any non-US government ID.
A withholding certificate
A certificate of residence issued by an appropriate tax official of the country in which the payee claims
to be a resident that indicates that the payee has filed its most recent income tax return as a resident
of that country.
An example of a withholding certificate (blank) is attached here:
Form W-8BEN
Certificate of Foreign Status of Beneficial Owner for United States Tax Withholding.pdf
An example of a Certificate of Loss of Nationality of the United States (blank) is attached here:
DS-4083 Certificate
of Loss of Nationality of the United States.PDF
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KNOW-YOUR-CUSTOMER (KYC) and CUSTOMER DUE DILIGENCE (CDD) Pursuant to regulatory guidelines of Insurance Commission on Know-Your-Client (KYC) and Customer Due Diligence (CDD), the following guidelines shall be observed:
First-time clients and authorized signatory/ies of corporate clients are required to present valid IDs. Current clients and authorized signatory/ies need not submit a valid ID for subsequent applications. For identification documents to be considered as valid: a) ID must be included in the list of acceptable primary and secondary IDs
b) ID must not be expired
For non-Philippine residents, similar ID duly issued by the foreign government where the customer is a resident or a citizen may be presented
Identification documents may be waived for BankAssure clients in exchange for a sworn certification from Metrobank subject to the client’s submission of a written consent (as approved by Metrobank per IOL No. 059, 2007m August 21, 2007) – See Annex A under Appendix Section
Below is the list of valid Identification documents:
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Reminders: 1. Presentation of the original ID to the Distributor and submission of a clear copy of the valid ID with signature issued by
an official authority. Always photocopy the portion of the valid ID clearly showing the customer’s signature.
2. On the photocopy of the ID, customer to affix 3 specimen signatures consistent with his/her signature as shown in the ID and other documents
3. The Distributor should affix his/her signature and declare: “signature verified and original copy seen”
4. Clients name, birth date, and signature in the application form and proposal should be consistent as shown in the photocopy of his/her valid identification
5. For Married Females:
Valid ID should bear the client’s married name and updated signature In case the client is unable to submit a valid ID using married name, the following documents should be complied:
c. Distributor’s Report indicating reason as to why client is unable to provide a valid ID using the married name
d. Valid ID using single name and copy of marriage certificate
e. Customary signature reflecting signature used under maiden name and current signature under married name.
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I. PRODUCT AND DESCRIPTION
BASIC PLANS
BASIC PLAN
(TRADITIONAL)
DESCRIPTION PAY
TERM
CURRENCY ISSUE AGE MINIMUM
SUM INSURED
MAXIMUM
SUM INSURED WLD05/WLD05S ASSURE
SMOKER/NON-SMOKER
5 PHP 0-70 200,000 N/A
WLE10/WLE10S ASSURE
SMOKER/NON-SMOKER
10 PHP 0-70 200,000 N/A
WLF20/WLF20S ASSURE
SMOKER/NON-SMOKER
20 PHP 0-70 200,000 N/A
LXT05 LIFE EXENTIALS
5-PAY TERM TO AGE 55
5 PHP 18-45 400,000
(PLAN 1000)
1,000,000
(PLAN 2500)
SE0515 SAVINGS EXENTIALS
5-PAY 15-YR MATURITY
5 PHP 18-45 106,000
(PLAN 1500)
424,000
(PLAN 6000)
SE0516 SAVINGS EXENTIALS
5-PAY 16-YR MATURITY
5 PHP 18-45 110,000
(PLAN 1500)
440,000
(PLAN 6000)
SE0517 SAVINGS EXENTIALS
5-PAY 17-YR MATURITY
5 PHP 18-45 114,000
(PLAN 1500)
456,000
(PLAN 6000)
SE0518 SAVINGS EXENTIALS
5-PAY 18-YR MATURITY
5 PHP 18-45 119,000
(PLAN 1500)
476,000
(PLAN 6000)
SE0519 SAVINGS EXENTIALS
5-PAY 19-YR MATURITY
5 PHP 18-45 124,000
(PLAN 1500)
496,000
(PLAN 6000)
SE0520 SAVINGS EXENTIALS
5-PAY 20-YR MATURITY
5 PHP 18-45 130,000
(PLAN 1500)
520,000
(PLAN 6000)
TR05 FLEXIPROTECT
REGULAR PAY
5 PHP 18-65 1,000,000
N/A
TR05SP FLEXIPROTECT
SINGLE PAY
5 PHP 18-65 1,000,000
N/A
TR05D FLEXIPROTECT
REGULAR PAY (ONLINE)
5 PHP 18-45 1,000,000 8,000,000
MAX AGGREGATE
AEX513/AEX513P ACADEMIC EXENTIALS
5-PAY 13-YEAR
5 PHP 18-60 20,081
(PLAN 1500)
56,179
(PLAN 4500)
AEX514/AEX514P ACADEMIC EXENTIALS
5-PAY 14-YEAR
5 PHP 18-60 20,577
(PLAN 1500)
57,471
(PLAN 4500)
AEX515/AEX515P ACADEMIC EXENTIALS
5-PAY 15-YEAR
5 PHP 18-60 21,098
(PLAN 1500)
58,139
(PLAN 4500)
AEX516/AEX516P ACADEMIC EXENTIALS
5-PAY 16-YEAR
5 PHP 18-60 21,646
(PLAN 1500)
59,523
(PLAN 4500)
AEX517/AEX517P ACADEMIC EXENTIALS
5-PAY 17-YEAR
5 PHP 18-60 22,223
(PLAN 1500)
60,975
(PLAN 4500)
AEX518/AEX518P ACADEMIC EXENTIALS
5-PAY 18-YEAR
5 PHP 18-60 23,149
(PLAN 1500)
62,500
(PLAN 4500)
AEX519/AEX519P ACADEMIC EXENTIALS
5-PAY 19-YEAR
5 PHP 18-60 23,810
(PLAN 1500)
64,102
(PLAN 4500)
AEX520/AEX520P ACADEMIC EXENTIALS
5-PAY 20-YEAR
5 PHP 18-60 24,876
(PLAN 1500)
66,666
(PLAN 4500)
HXCB1 HEALTH EXENTIALS
STARTER PLAN
TO AGE 55 PHP 20-60 500,000 500,000
HXCB2 HEALTH EXENTIALS
ADVANCE PLAN
TO AGE 55 PHP 20-60 750,000 750,000
HXCB3 HEALTH EXENTIALS
DELUXE PLAN
TO AGE 55 PHP 20-60 1,000,000 1,000,000
HMAX20/
HMAX20S
HEALTH MAX
20-PAY
20 PHP INSURED – 0-45
OWNER – 18-99
1,000,000 5M – JUVENILE
10M – ADULT
HMAX65/
HMAX65S
HEALTH MAX
PAY-YO-AGE 65
TO AGE 65 PHP INSURED – 21-56
OWNER – 18-99
1,000,000 5M – JUVENILE
10M – ADULT
ANNEXES
NB Underwriting Guidelines
96 | P a g e
BASIC PLAN
(VLIP)
DESCRIPTION PAY
TERM
CURRENCY ISSUE AGE MINIMUM
SA/SP
MAXIMUM SA
SA/SP BAX/BAXS LIFE BASIX WHOLE
LIFE
PHP
USD
0-70 PHP 400,000
USD 20,000
N/A
AXE/AXES AXELERATOR
SMOKER/NON-SMOKER
10 PHP 0-70 150,000 N/A
AXPR1 AMBITION X
(FULL UNDERWRITING)
SINGLE-
PAY
PHP
USD
0-65 PHP 100,000 SP
USD 2,000 SP
N/A
AXPRG AMBITION X
(GUARANTEED ISSUE)
SINGLE-
PAY
PHP
USD
0-70 PHP 100,000 SP
USD 2,000 SP
PHP 30M SP /
PHP 7.5M NAR
for age 61-70
OR
PHP 60M SP /
PHP 15M NAR for
age 0-60
AX3101A 3G-XCEED SINGLE-
PAY
PHP 0-65 200,000 399,999
AX3102A 3G-XCEED SINGLE-
PAY
PHP 0-65 400,000 4,999,999
AX3103A 3G-XCEED SINGLE-
PAY
PHP 0-65 5,000,000 N/A
AX3071A 3G-XCEED SINGLE-
PAY
PHP 0-65 200,000 399,999
AX3072A 3G-XCEED SINGLE-
PAY
PHP 0-65 400,000 4,999,999
AX3073A 3G-XCEED SINGLE-
PAY
PHP 0-65 5,000,000 N/A
AXD071A 3G-XCEED SINGLE-
PAY
USD 0-65 5,000 10,999
AXD072A 3G-XCEED SINGLE-
PAY
USD 0-65 11,000 104,999
AXD073A 3G-XCEED SINGLE-
PAY
USD 0-65 105,000 N/A
AXD101A 3G-XCEED SINGLE-
PAY
USD 0-65 5,000 10,999
AXD102A 3G-XCEED SINGLE-
PAY
USD 0-65 11,000 104,999
AXD103A 3G-XCEED SINGLE-
PAY
USD 0-65 105,000 N/A
NB Underwriting Guidelines
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RIDER SUPPLEMENTS
RIDER
PLAN
DESCRIPTION ATTACHABLE TO
(BASIC)
ISSUE
AGE
SUB-
STANDARD
MINIMUM
SA/COVER
MAXIMUM
SA
WP WAIVER OF
PREMIUM
ASSURE, SAVER, FLEXIPROTECT,
LIFE BASIX (USD/PHP),
AXELERATOR, SAVINGS EXENTIALS
18-55 CLASS 1.5
CLASS 2.0
N/A N/A
WPDD21 PAYOR’S CLAUSE ASSURE, SAVER, LIFE BASIX
(USD/PHP), AXELERATOR, HEALTH
MAX 20-PAY
0-17 (PI)
18-55 (PO)
CLASS 1.5
CLASS 2.0
N/A N/A
MEB1 CARE – YRT
ECONOMY
ASSURE, SAVER, FLEXIPROTECT,
AMBITION X (PHP), LIFE BASIX
(PHP), AXELERATOR
0-65 CLASS 1.5
CLASS 2.0
ECONOMY -
300/DAY ; ICU
600/DAY
N/A
MEB2 CARE – YRT
REGULAR
ASSURE, SAVER, FLEXIPROTECT,
AMBITION X (PHP), LIFE BASIX
(PHP), AXELERATOR
0-65 CLASS 1.5
CLASS 2.0
REGULAR-
800/DAY; ICU
1600/DAY
N/A
MEB3 CARE – YRT
SUPERIOR
ASSURE, SAVER, FLEXIPROTECT,
AMBITION X (PHP), LIFE BASIX
(PHP), AXELERATOR
0-65
CLASS 1.5
CLASS 2.0
SUPERIOR-
1200/DAY; ICU
2400/DAY
N/A
MEB4 CARE – YRT
PREMIER
ASSURE, SAVER, FLEXIPROTECT,
AMBITION X (PHP), LIFE BASIX
(PHP), AXELERATOR
0-65 CLASS 1.5
CLASS 2.0
PREMIER-
2000/DAY; ICU
4000/DAY
N/A
MEB5 CARE – 20-YEAR
ECONOMY
ASSURE 20-PAY, LIFE BASIX (PHP),
FLEXIPROTECT,
HEALTH MAX 20-PAY
18-45 CLASS 1.5
CLASS 2.0
ECONOMY-
800/DAY; ICU
1600/DAY
N/A
MEB6 CARE – 20-YEAR
SUPERIOR
ASSURE 20-PAY, LIFE BASIX (PHP),
FLEXIPROTECT,
HEALTH MAX 20-PAY
18-45 CLASS 1.5
CLASS 2.0
SUPERIOR-
2000/DAY; ICU
4000/DAY
N/A
MEB7 CARE – 20-YEAR
PREMIER
ASSURE 20-PAY, LIFE BASIX (PHP),
FLEXIPROTECT,
HEALTH MAX 20-PAY
18-45 CLASS 1.5
CLASS 2.0
PREMIER-
5000/DAY;
ICU 10000/DAY
N/A
MEB8 CARE – AGE 55
ECONOMY
HEALTH MAX PAY TO AGE 65 18-45 CLASS 1.5
CLASS 2.0
ECONOMY-
800/DAY; ICU
1600/DAY
N/A
MEB9 CARE – AGE 55
SUPERIOR
HEALTH MAX PAY TO AGE 65 18-45 CLASS 1.5
CLASS 2.0
SUPERIOR-
2000/DAY; ICU
4000/DAY
N/A
MEB0 CARE – AGE 55
PREMIER
HEALTH MAX PAY TO AGE 65 18-45 CLASS 1.5
CLASS 2.0
PREMIER-
5000/DAY;
ICU 10000/DAY
N/A
NTR/STR PROTECTOR - YRT ASSURE, SAVER,
AMBITION X (PHP/USD)
LIFE BASIX (PHP/USD),
AXELERATOR
18-65 CLASS 1.5
CLASS 2.0
PHP 200,000
USD 20,000
5X OF SP OR
5X OF BASIC
N5TR/
S5TR
PROTECTOR – 5YT ASSURE, SAVER,
AMBITION X (PHP/USD)
LIFE BASIX (PHP/USD),
AXELERATOR
18-65 CLASS 1.5
CLASS 2.0
PHP 200,000
USD 20,000
5X OF SP OR
5X OF BASIC
N10TR/
S10TR
PROTECTOR – 10YT ASSURE, SAVER,
AMBITION X (PHP/USD)
LIFE BASIX (PHP/USD),
AXELERATOR
18-65 CLASS 1.5
CLASS 2.0
PHP 200,000
USD 20,000
5X OF SP OR
5X OF BASIC
SUM ASSURED
2005T/
2005TS
PROTECTOR –
5-PAY 20-YEAR
ASSURE 5-PAY
LIFE BASIX, AXELERATOR
18-45 CLASS 1.5
CLASS 2.0
PHP 200,000 5X OF BASIC
SUM ASSURED
2010T/
2010TS
PROTECTOR –
10-PAY 20-YEAR
ASSURE 10-PAY
LIFE BASIX, AXELERATOR
18-45 CLASS 1.5
CLASS 2.0
PHP 200,000 5X OF BASIC
SUM ASSURED
5505T/
5505TS
PROTECTOR –
5-PAY TERM TO 55
ASSURE 5-PAY
LIFE BASIX, AXELERATOR
18-45 CLASS 1.5
CLASS 2.0
PHP 200,000 5X OF BASIC
SUM ASSURED
5510T/
5510TS
PROTECTOR –
10-PAY TERM TO 55
ASSURE 10-PAY
LIFE BASIX, AXELERATOR
18-45 CLASS 1.5
CLASS 2.0
PHP 200,000 5X OF BASIC
SUM ASSURED
55RPT/
55RPTS
PROTECTOR –
REGULAR-PAY
TERM TO 55
LIFE BASIX, AXELERATOR 18-45 CLASS 1.5
CLASS 2.0
PHP 200,000 5X OF BASIC
SUM ASSURED
20RPT/
20RPTS
PROTECTOR –
REGULAR-PAY
20-YEAR TERM
ASSURE 20-PAY
LIFE BASIX, AXELERATOR
18-45 CLASS 1.5
CLASS 2.0
PHP 200,000 5X OF BASIC
SUM ASSURED
NB Underwriting Guidelines
98 | P a g e
RIDER SUPPLEMENTS
RIDER
PLAN
DESCRIPTION ATTACHABLE TO ISSUE
AGE
SUBSTAND
ARD RATE
MINIMUM
SA/COVER
MAXIMUM
SA
DTX509 BRIGHT RIDER
5-PAY 13-YR TERM
ACADEMIC EXENTIALS 18-45 N/A PHP 20,081 PHP 74,626
DTX510 BRIGHT RIDER
5-PAY 14-YR TERM
ACADEMIC EXENTIALS 18-45 N/A PHP 20,081 PHP 74,626
DTX511 BRIGHT RIDER
5-PAY 15-YR TERM
ACADEMIC EXENTIALS 18-45 N/A PHP 20,081 PHP 74,626
DTX512 BRIGHT RIDER
5-PAY 16-YR TERM
ACADEMIC EXENTIALS 18-45 N/A PHP 20,081 PHP 74,626
DTX513 BRIGHT RIDER
5-PAY 17-YR TERM
ACADEMIC EXENTIALS 18-45
N/A PHP 20,081 PHP 74,626
DTX514 BRIGHT RIDER
5-PAY 18-YR TERM
ACADEMIC EXENTIALS 18-45 N/A PHP 20,081 PHP 74,626
DTX515 BRIGHT RIDER
5-PAY 19-YR TERM
ACADEMIC EXENTIALS 18-45 N/A PHP 20,081 PHP 74,626
DTX516 BRIGHT RIDER
5-PAY 20-YR TERM
ACADEMIC EXENTIALS 18-45 N/A PHP 20,081 PHP 74,626
DTA512/
DTA512S
BRIGHT RIDER
PLUS
12-YEAR TERM
ACADEMIX - PACKAGED
AXELERATOR
LIFE BASIX (PHP) - OPTIONAL
BRIGHT RIDER PLUS ATTACHMENT
18-60 FOLLOW
BASIC PLAN
PHP 30,000 OR
10% OF BASIC
WHICHEVER IS
HIGHER
100% OF
BASIC
SUM INSURED
DTA513/
DTA513S
BRIGHT RIDER
PLUS
13-YEAR TERM
ACADEMIX - PACKAGED
AXELERATOR
LIFE BASIX (PHP) - OPTIONAL
BRIGHT RIDER PLUS ATTACHMENT
18-60 FOLLOW
BASIC PLAN
PHP 30,000 OR
10% OF BASIC
WHICHEVER IS
HIGHER
100% OF
BASIC
SUM INSURED
DTA514/
DTA514S
BRIGHT RIDER
PLUS
14-YEAR TERM
ACADEMIX - PACKAGED
AXELERATOR
LIFE BASIX (PHP) - OPTIONAL
BRIGHT RIDER PLUS ATTACHMENT
18-60 FOLLOW
BASIC PLAN
PHP 30,000 OR
10% OF BASIC
WHICHEVER IS
HIGHER
100% OF
BASIC
SUM INSURED
DTA515/
DTA515S
BRIGHT RIDER
PLUS
15-YEAR TERM
ACADEMIX - PACKAGED
AXELERATOR
LIFE BASIX (PHP) - OPTIONAL
BRIGHT RIDER PLUS ATTACHMENT
18-60 FOLLOW
BASIC PLAN
PHP 30,000 OR
10% OF BASIC
WHICHEVER IS
HIGHER
100% OF
BASIC
SUM INSURED
DTA516/
DTA516S
BRIGHT RIDER
PLUS
16-YEAR TERM
ACADEMIX - PACKAGED
AXELERATOR
LIFE BASIX (PHP) - OPTIONAL
BRIGHT RIDER PLUS ATTACHMENT
18-60 FOLLOW
BASIC PLAN
PHP 30,000 OR
10% OF BASIC
WHICHEVER IS
HIGHER
100% OF
BASIC
SUM INSURED
DTA517/
DTA517S
BRIGHT RIDER
PLUS
17-YEAR TERM
ACADEMIX - PACKAGED
AXELERATOR
LIFE BASIX (PHP) - OPTIONAL
BRIGHT RIDER PLUS ATTACHMENT
18-60 FOLLOW
BASIC PLAN
PHP 30,000 OR
10% OF BASIC
WHICHEVER IS
HIGHER
100% OF
BASIC
SUM INSURED
DTA518/
DTA518S
BRIGHT RIDER
PLUS
18-YEAR TERM
ACADEMIX - PACKAGED
AXELERATOR
LIFE BASIX (PHP) - OPTIONAL
BRIGHT RIDER PLUS ATTACHMENT
18-60 FOLLOW
BASIC PLAN
PHP 30,000 OR
10% OF BASIC
WHICHEVER IS
HIGHER
100% OF
BASIC
SUM INSURED
DTA519/
DTA519S
BRIGHT RIDER
PLUS
19-YEAR TERM
ACADEMIX - PACKAGED
AXELERATOR
LIFE BASIX (PHP) - OPTIONAL
BRIGHT RIDER PLUS ATTACHMENT
18-60 FOLLOW
BASIC PLAN
PHP 30,000 OR
10% OF BASIC
WHICHEVER IS
HIGHER
100% OF
BASIC
SUM INSURED
DTA520/
DTA520S
BRIGHT RIDER
PLUS
20-YEAR TERM
ACADEMIX - PACKAGED
AXELERATOR
LIFE BASIX (PHP) - OPTIONAL
BRIGHT RIDER PLUS ATTACHMENT
18-60 FOLLOW
BASIC PLAN
PHP 30,000 OR
10% OF BASIC
WHICHEVER IS
HIGHER
100% OF
BASIC
SUM INSURED
DTA521/
DTA521S
BRIGHT RIDER
PLUS
21-YEAR TERM
ACADEMIX - PACKAGED
AXELERATOR
LIFE BASIX (PHP) - OPTIONAL
BRIGHT RIDER PLUS ATTACHMENT
18-60 FOLLOW
BASIC PLAN
PHP 30,000 OR
10% OF BASIC
WHICHEVER IS
HIGHER
100% OF
BASIC
SUM INSURED
DTA522/
DTA522S
BRIGHT RIDER
PLUS
22-YEAR TERM
ACADEMIX - PACKAGED
AXELERATOR
LIFE BASIX (PHP) - OPTIONAL
BRIGHT RIDER PLUS ATTACHMENT
18-60 FOLLOW
BASIC PLAN
PHP 30,000 OR
10% OF BASIC
WHICHEVER IS
HIGHER
100% OF
BASIC
SUM INSURED
NB Underwriting Guidelines
99 | P a g e
RIDER SUPPLEMENTS
RIDER
PLAN
DESCRIPTION ATTACHABLE TO ISSUE
AGE
SUBSTAND
ARD RATE
MINIMUM
SA/COVER
MAXIMUM
SA
ELI SHIELD – YRT ASSURE, SAVER, FLEXIPROTECT 5-
PAY & 10-PAY REGULAR,
AMBITION X (PHP),
LIFE BASIX (PHP), AXELERATOR
0-65 CLASS 1.5
CLASS 2.0
PHP 200,000 PHP 10M
(ADULT)
PHP 5M
(JUVENILE)
ELIRP20 SHIELD – 20-PAY
(LEVEL PAY)
ASSURE 20-PAY, FLEXIPROTECT 5-
PAY & 10 PAY REGULAR,
LIFE BASIX (PHP)
18-45 CLASS 1.5
CLASS 2.0
PHP 200,000 PHP 10M
(ADULT)
PHP 5M
(JUVENILE)
ELIRP55 SHIELD – AGE 55
(LEVEL PAY)
ASSURE 20-PAY, FLEXIPROTECT 5-
PAY & 10 PAY REGULAR,
LIFE BASIX (PHP)
18-45 CLASS 1.5
CLASS 2.0
PHP 200,000 PHP 10M
(ADULT)
PHP 5M
(JUVENILE)
AP SECURE – YRT ASSURE, SAVER, FLEXIPROTECT 5-
PAY & 10-PAY REGULAR,
AMBITION X (PHP/USD)
LIFE BASIX (PHP/USD),
AXELERATOR, HEALTH MAX
0-65 CLASS 1.5
CLASS 2.0
PHP 200,000
USD 20,000
PHP 10M
(ADULT)
PHP 5M
(JUVENILE
AP0520 SECURE
5-PAY 20-YR TERM
ASSURE 5-PAY,
LIFE BASIX (PHP),
AXELERATOR
18-45
CLASS 1.5
CLASS 2.0
PHP 200,000 PHP 10M
(ADULT)
PHP 5M
(JUVENILE
AP1020 SECURE
10-PAY 20-YR TERM
ASSURE 5-PAY, LIFE BASIX (PHP),
AXELERATOR
18-45 CLASS 1.5
CLASS 2.0
PHP 200,000 PHP 10M
(ADULT)
PHP 5M
(JUVENILE
AP0555 SECURE
5-PAY TO AGE 55
ASSURE 5-PAY, LIFE BASIX (PHP),
AXELERATOR
18-45 CLASS 1.5
CLASS 2.0
PHP 200,000 PHP 10M
(ADULT)
PHP 5M
(JUVENILE
AP1055 SECURE
10-PAY TO AGE 55
ASSURE 5-PAY, LIFE BASIX (PHP),
AXELERATOR
18-45 CLASS 1.5
CLASS 2.0
PHP 200,000 PHP 10M
(ADULT)
PHP 5M
(JUVENILE
NB Underwriting Guidelines
100 | P a g e
II. BULLETIN
NB Underwriting Guidelines
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NB Underwriting Guidelines
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NB Underwriting Guidelines
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NB Underwriting Guidelines
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NB Underwriting Guidelines
105 | P a g e
NB Underwriting Guidelines
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III. SAMPLE FORMS
NB Underwriting Guidelines
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NB Underwriting Guidelines
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NB Underwriting Guidelines
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NB Underwriting Guidelines
110 | P a g e
NB Underwriting Guidelines
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NB Underwriting Guidelines
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NB Underwriting Guidelines
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NB Underwriting Guidelines
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NB Underwriting Guidelines
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NB Underwriting Guidelines
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NB Underwriting Guidelines
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NB Underwriting Guidelines
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NB Underwriting Guidelines
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NB Underwriting Guidelines
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NB Underwriting Guidelines
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IV. UNDERWRITING TABLES
NB Underwriting Guidelines
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NB Underwriting Guidelines
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A LIFE SECURE
(AD&D) WP PC
CARE
(Hosp)
SHIELD/
HEALTH MAX
PROTECTOR
(Term)
Actor/Actress
**require HIV,HBsAG, GGT
without stunt work Std Std Std Std Std Std Std
with stunt work 5 D D D D D 5
Doing bold performances IC IC IC IC IC IC IC
Acupuncturist Std Std Std Std Std Std Std
Aerobics instructor/instructress
(See Instructor)
Airport Police (see Military)
Ambassador (Refer to foreign
residence guidelines) IC IC IC IC IC IC IC
Architect Std Std Std Std Std Std Std
Assembler (Motor Parts) Std Std 2x 2x 2x Std Std
Athlete
Badminton Std Std Std Std Std Std Std
Basketball Player Std Std D D 2x Std Std
Baseball, Football Std Std D D 2x Std Std
Bicycle racer Std 1.5x D D Std Std Std
Billiard player Std Std Std Std Std Std Std
Boxer 2 D D D D D 2
Bowler Std Std Std Std Std Std Std
Equestrian Std Std D D 2x 2x Std
Golf Std Std D D Std Std Std
Martial Arts (Judo, Karate) Std Std D D 2x Std Std
Swimmer Std Std Std Std Std Std Std
Tennis Player Std Std Std Std Std Std Std
Track & Field Std Std Std Std Std Std Std
Wrestler 2 D D D D D 2
Attendant
Food Attendant / Server Std Std Std Std 2x 2x Std
Hospital Attendant Std Std Std Std Std Std Std
Hotel Attendant / Service Crew Std Std Std Std Std Std Std
Massage Parlor/Sauna Bath
Attendant
IC D D D D D IC
NB Underwriting Guidelines
124 | P a g e
B LIFE SECURE
(AD&D) WP PC
CARE
(Hosp)
SHIELD/
HEALTH MAX
PROTECTOR
(Term)
Baby Sitter/ Nanny Std Std Std Std Std Std Std
Baker Std Std Std Std Std Std Std
Barber Std Std Std Std Std Std Std
Barker (jeep/fx) Std Std 1.5x 1.5x Std Std Std
Bartender
In 1st class & reputable
establishments Std Std Std Std Std Std Std
Other establishments 2 Std 2x 2x 2x 2x 2
Beautician (If male, require HIV)
Hairstylists, Manicurists, Make- up
Artist Std Std Std Std Std Std Std
Blacksmith Std Std 2x 2x 1.5x 1.5x Std
Bodyguard (see Guard)
Bouncer/doorman (nightclub) 5 D D D D D 5
Boxer (see Athlete)
Butcher/Meat cutter Std 1.5x 2x 2x 1.5x Std Std
Barangay Tanod 5 D D D Std Std 5.00
NB Underwriting Guidelines
125 | P a g e
C LIFE SECURE
(AD&D) WP PC
CARE
(Hosp)
SHIELD/
HEALTH MAX
PROTECTOR
(Term)
Cameraman
Fashion, Studio Based Std Std Std Std Std Std Std
TV/News/Movie Std Std Std Std Std Std Std
Caretaker
House Std Std Std Std Std Std Std
Farm, Fishpond 2 2x 2x 2x 2x Std 2
Caregiver Std Std Std Std Std Std Std
Carpenter Std Std 2x 2x 1.5x 1.5x Std
Cashier
Bank, Office, Store Std Std Std Std Std Std Std
Roving (on foot, using armored
Vehicle) Std 1.5x 1.5x 1.5x Std Std Std
Card dealer/croupier, table supervisor,
card shuffler Std Std Std Std Std Std Std
Chemist Std Std Std Std Std Std Std
Circus /Amusement Park Workers
Acrobat 2 D D D D D 2
Animal trainer 2 D D D D D 2
Clown Std Std 2x 2x Std Std Std
Fire Eater 2 D D D D D 2
Game Controller/Operator Std Std Std Std Std Std Std
Civil artisan 2 D D 2x D D 2
CEO/President Std Std Std Std Std Std Std
Cleaner
Indoor Std Std 2x 2x Std Std Std
Street (metro manila aide) Std D D D D D Std
Equipment Std 1.5x 2x 2x Std Std Std
Window Cleaner (high rise buildings) 3 D D D D D 3
Clerk (office) Std Std Std Std Std Std Std
Coach (sports) Std Std Std Std Std Std Std
Cockpit Bet Dealer (Cristo) Std Std Std Std Std Std Std
Coffin maker Std Std 2x 2x 2x 2x Std
Collector
Using motorcycle 2.5 2x 2x 2x Std Std 2.5
Using public transportation, or on foot Std Std Std Std Std Std Std
Commentator (radio) IC IC IC IC IC IC IC
Computer Technician (see Technician)
Conductor (bus transportation) 2.5 2x 2x 2x Std Std 2.5
Construction worker (high rise buildings) 3 D D D D D 3
Contractor (construction) Std Std Std Std Std Std Std
Cook
Working in 1st class & reputable
establishment Std Std Std Std Std Std Std
Other establishments 2 2x 2x 2x D D 2
NB Underwriting Guidelines
126 | P a g e
D LIFE SECURE
(AD&D) WP PC
CARE
(Hosp)
SHIELD/
HEALTH MAX
PROTECTOR
(Term)
Dancer (entertainment)
Ballet, TV/Stage Show
Choreographer/Dancer Std Std 2x 2x Std Std Std
Cultural Dancer (domestic) Std 2x 2x 2x Std Std Std
Cultural Dancer (international) 2.5 D D D D D 2.5
Night Club/Bar (require HIV) 2.5 D D D D D 2.5
Deliveryman (see messenger)
Derrick builder (oil & natural gas) 2 D D D D D 2
Designer (if male, require HIV)
Fashion, interior Std Std Std Std Std Std Std
Detective
Criminal Case Detective 5 D D D D D 5
Private Investigator 2 2x 2x 2x 2x 2x 2
House Detective of PAGCOR 3 D 2x 2x Std Std 3
Director (require HIV,HBsAg, GGT)
Movie/TV/Musical Std Std Std Std Std Std Std
Disc Jockey/DJ (radio, disco) Std Std Std Std Std Std Std
Diver (Professional) IC Std IC IC IC IC IC
Doctor Std Std Std Std Std Std Std
Domestic Helper / Housemaid Std Std 2x 2x 1.5x 1.5x Std
Dressmaker
Employed Std Std Std Std Std Std Std
Freelance (Self-Employed) Std Std 1.5x 1.5x Std Std Std
Driver
Ambulance Std Std Std Std Std Std Std
Armored car 3 2x D D Std Std 3
Bus 2.5 2x 2x 2x Std Std 2.5
Car, Van Std Std Std Std Std Std Std
Company Std Std Std Std Std Std Std
Family (Chauffeur) Std Std Std Std Std Std Std
Garbage Truck 2.5 2x 2x 2x Std Std 2.5
Hearse (Funeral Car) Std Std Std Std Std Std Std
School Bus Std Std Std Std Std Std Std
Taxi / FX
Drives own taxi Std Std Std Std Std Std Std
Employed as taxi driver 2.5 2x 2x 2x Std Std 2.5
Jeepney 2.5 2x 2x 2x 1.5x Std 2.5
Train, MRT, LRT Std Std Std Std Std Std Std
Tricycle 2.5 2x 2x 2x D D 2.5
Truck 2.5 2x 2x 2x D D 2.5
NB Underwriting Guidelines
127 | P a g e
E LIFE SECURE (AD&D)
WP PC CARE (Hosp)
SHIELD/ HEALTH MAX
PROTECTOR (Term)
Editor (newspaper, magazine) Std Std Std Std Std Std Std
Electrical Supply Worker 2 2x 2x 2x 2x 2x 2
Electrician
Household, Office Std 2x 2x 2x 2x 2x Std
Plant, Factory 2.5 2x 2x 2x 2x 2x 2.5
Elevator operator Std Std Std Std Std Std Std
Embalmer Std Std 2x 2x 2x 2x Std
Encoder Std Std Std Std Std Std Std
Executive (Junior/Senior) Std Std Std Std Std Std Std
F LIFE SECURE (AD&D)
WP PC CARE (Hosp)
SHIELD/ HEALTH MAX
PROTECTOR (Term)
Factory Worker
Supervisor, Foreman, Quality Control Staff Std Std Std Std Std Std Std
Packer, Sewer, Cutter, Reviser, Assembler Std Std 2x 2x Std Std Std
Assembler of explosives D D D D D D D
Machine Operator Std Std 2x 2x Std Std Std
Broiler Operator Std 2x 2x 2x Std Std Std
Lye Mixer 3 2x 2x 2x Std Std 3
Farmer
Landowner / Supervision only Std Std Std Std Std Std Std
Doing actual work / Laborer 2 2x 2x 2x 2x 2x 2
Fashion Designer (see Designer)
Fireman (including fire brigade Volunteers 3 D D D D D 3
Fisherman 2 D D D D D 2
Flight Steward/Stewardess (Commercial Airline) Std Std Std Std Std Std Std
Food Attendant (see Attendant)
Foreman (building/construction) Std Std Std Std Std Std Std
Forester Std Std Std Std Std Std Std
Forklift Operator 3 2x 2x 2x 2x 2x 3
Fortuneteller Std Std 1.5x 1.5x Std Std Std
NB Underwriting Guidelines
128 | P a g e
G LIFE SECURE
(AD&D) WP PC
CARE
(Hosp)
SHIELD/
HEALTH MAX
PROTECTOR
(Term)
Gardener Std Std Std Std Std Std Std
Geologist
no aerial, offshore or underground
work Std Std Std Std Std Std Std
with aerial, offshore or underground
work Std 2x 2x 2x 2x 2x Std
with underground work 2 D D D D 3x 2
Garbage collector Std D D D D D Std
Gasoline boy Std 1.5x 2x 2x 2x 2x Std
Glass worker
Glass Cutter / Finisher Std Std 2x 2x Std Std Std
Glass Heat Installer Std Std D D Std Std Std
Glass Installer Std Std 2x 2x Std Std Std
Guard
Bodyguard 10 D D D 2x 2x 10
Life Guard (in beaches & pools) Std Std Std Std Std Std Std
Prison Guard / Warden 10 D D D 2x 2x 10
Security Guard (Bank, Office,
Armored, Custom) 2.5 D D D 2x 2x 2.5
Guest Relations Officer (GRO)
Working in night clubs 2.5 D D D D D 2.5
Working in reputable hotels/
establishments 2.5 D D D D D 2.5
H LIFE SECURE
(AD&D) WP PC
CARE
(Hosp)
SHIELD/
HEALTH MAX
PROTECTOR
(Term)
Hair Stylist (see Beautician)
Harbor Pilot Std Std Std Std Std Std Std
Heavy Equipment Operator 3 2x 2x 2x D D 3
House Detective - PAGCOR (see
Detective)
Household Help/ Housemaid (see
Domestic helper)
NB Underwriting Guidelines
129 | P a g e
I LIFE SECURE
(AD&D) WP PC
CARE
(Hosp)
SHIELD/
HEALTH MAX
PROTECTOR
(Term)
Inspector
bus / aircraft Std Std Std Std Std Std Std
Instructor
Aerobics Instructor Std Std 2x 2x Std Std Std
Dance Instructor Std Std 2x 2x Std Std Std
Driving Instructor Std Std Std Std Std Std Std
Gym Instructor Std Std 2x 2x Std Std Std
School Instructor Std Std Std Std Std Std Std
Interior Designer (see Designer)
J LIFE SECURE
(AD&D) WP PC
CARE
(Hosp)
SHIELD/
HEALTH MAX
PROTECTOR
(Term)
Janitor Std Std 2x 2x Std Std Std
Journalist 5 IC 2x 2x Std Std 5
L LIFE SECURE
(AD&D) WP PC
CARE
(Hosp)
SHIELD/
HEALTH MAX
PROTECTOR
(Term)
Lawyer Std Std Std Std Std Std Std
Laundrywoman Std Std 2x 2x Std Std Std
Lifeguard (see Guard)
Lineman
Working in PLDT, Skycable,
Globe Bayantel, etc. 3 1.5x 2x 2x 2x 2x 3
Working in MERALCO 5 2x 2x 2x 2x 2x 5
NB Underwriting Guidelines
130 | P a g e
M LIFE SECURE
(AD&D) WP PC
CARE
(Hosp)
SHIELD/
HEALTH MAX
PROTECTOR
(Term)
Machine Operator Std Std 2x 2x Std Std Std
Machinist Std Std 2x 2x Std Std Std
Mason (construction) 2 D D D D D 2
Masseur/Masseuse **require HIV
In reputable hotels, spa centers Std Std Std Std Std Std Std
In massage parlors, sauna bath 2.5 D D D D D 2.5
Mechanic
Land Vehicles e.g. car, jeep. Std Std Std Std Std Std Std
Aircraft Std Std Std Std Std Std Std
Medical Technologist Std Std Std Std Std Std Std
Messenger
Office, On foot Std Std Std Std Std Std Std
Using motorcycle Std Std Std Std Std Std Std
Metro Manila Aide Std D D D D D Std
Midwife Std Std Std Std Std Std Std
Military
Airport Police 5 Std D D D Std 5
Bomb Disposal Unit 10 Std D D D Std 10
Customs Police 2 Std D D D Std 2
Military Doctors, Dentists, Nurses,
Chaplains, Lawyers 5 Std D D D Std 5
Military pilots & crew 7.5 Std D D D Std 7.5
NARCOM Officers 5 Std D D D D 5
PMA Cadet 5 Std D D D Std 5
PNP Cadet 10 Std D D D Std 10
PNP Commissioned Officers
(Includes Colonel, Capt, Major,
Lieutenant, General)
5 Std D D D D 5
PNP Non-Commissioned Ofc
(Includes SPO1/02/03, Sergeant,
Corporal, Private)
10 Std D D D D 10
Phil Air Force flying personnel 7.5 Std D D D D 7.5
Phil Army Commissioned Officers 5 Std D D D D 5
Phil Army Non-Commissioned
Officers 10 Std D D D D 10
Phil Navy Commissioned Officers 5 Std D D D D 5
Phil Navy Non-Commissioned
Officers 10 Std D D D D 10
Miner
Underground 2 D D D D D 2
On surface Std Std D D 2x 2x Std
Blaster – Open-mining and Quarry 7 D D D D D 7
Blaster – Underground 10 D D D D D 10
NB Underwriting Guidelines
131 | P a g e
M LIFE SECURE
(AD&D) WP PC
CARE
(Hosp)
SHIELD/
HEALTH MAX
PROTECTOR
(Term)
Missionary Priest/Pastor/Nun
(Get additional details e.g. place of
assignment)
IC
If assigned abroad, Foreign Residence Guidelines apply
Missionary worker IC – If assigned abroad, Foreign Residence Guidelines apply
Musician (require HIV, HBsAG, GGT)
Local Std 1.5x 2x 2x Std Std Std
Int’l **Foreign Res Rule apply 2.5 D D D D D 2.5
Model (Fashion, Commercial) Std Std Std Std Std Std Std
N LIFE SECURE
(AD&D) WP PC
CARE
(Hosp)
SHIELD/
HEALTH MAX
PROTECTOR
(Term)
Nanny (see Babysitter)
Night Club Dancer (see Dancer)
NBI Agent 5 D D D D D 5
Newscaster only (studio-based) Std Std Std Std Std Std Std
Newscaster & field reporter Std 2x 2x 2x Std Std Std
Newspaper delivery boy Std 1.5x 2x 2x Std Std Std
Nurse Std Std Std Std Std Std Std
Nursing Aide Std Std 2x 2x Std Std Std
Nun (non missionary)
** see also Missionary Std Std Std Std Std Std Std
O LIFE SECURE
(AD&D) WP PC
CARE
(Hosp)
SHIELD/
HEALTH MAX
PROTECTOR
(Term)
Office Staff/Employee Std Std Std Std Std Std Std
Officer Supervisor Std Std Std Std Std Std Std
Operator
Oil Drilling Operator 2 D D D D D 2
Telephone Operator Std Std Std Std Std Std Std
NB Underwriting Guidelines
132 | P a g e
P LIFE SECURE
(AD&D) WP PC
CARE
(Hosp)
SHIELD/
HEALTH MAX
PROTECTOR
(Term)
Painter
Artist Std Std Std Std Std Std Std
Houses Std Std Std Std Std Std Std
Buildings 3 D D D Std Std 3
Spray painter Std 2x 2x 2x Std Std Std
Pastor
Non-missionary Std Std Std Std Std Std Std
Missionary IC – If assigned abroad, Foreign Residence Guidelines apply
Pensioner Std Std D D Std Std Std
Photographer
Commercial, Fashion, Portrait,
Wedding Std Std Std Std Std Std Std
Media / Newspaper Std 2x 2x 2x Std Std Std
Doing aerial or Underground work IC IC IC IC IC IC IC
Physical Therapist Std Std Std Std Std Std Std
Pilot
Commercial pilot, Crew Members Std Std Std Std Std Std Std
Non-Commercial Pilot (Submit AVQ) IC IC IC IC IC IC IC
Military Pilot & Crew 7.5 D D D D Std 7.5
Private & Student Pilot (submit AVQ) IC IC IC IC IC IC IC
Plumber Std Std Std Std Std Std Std
Policeman (see Military)
Politicians
President, Vice President, Senator,
Congressman 5 D D D Std Std 5
Governor, Vice Governor, Mayor,
Vice Mayor 5 D D D Std Std 5
Barangay Chairman, Kagawad,
Councilor 5 D D D Std Std 5
*** Immediate relatives of politicians
may be accepted at standard rates
provided she/he is not actively
involved in the politician's career IC IC IC IC IC IC IC
Porter Std Std 2x 2x 2x 2x Std
Postman
On foot/ using van Std Std Std Std Std Std Std
Using motorcycle 2.5 2x 2x 2x D D 2.5
Power plant operator 2 2x 2x 2x 2x 2x 2
Priest (see Pastor)
Prison Guard (see Guard)
Producer (Movie/Television)
(HIV,HBsAG,GGT may be required) Std Std Std Std Std Std Std
Professor Std Std Std Std Std Std Std
Programmer/Analyst Std Std Std Std Std Std Std
NB Underwriting Guidelines
133 | P a g e
R LIFE SECURE
(AD&D) WP PC
CARE
(Hosp)
SHIELD/
HEALTH MAX
PROTECTOR
(Term)
Receptionist
Hotel, restaurant, office Std Std Std Std Std Std Std
Sauna bath / Massage Parlor Std Std Std Std Std Std Std
Repairman Std Std Std Std Std Std Std
Reporter (TV, Radio, Newspaper) Std Std Std Std Std Std Std
Rigger (Construction) 2 D D D D D 2
Roving Teller (See Cashier)
NB Underwriting Guidelines
134 | P a g e
S LIFE SECURE
(AD&D) WP PC
CARE
(Hosp)
SHIELD/
HEALTH MAX
PROTECTOR
(Term)
Sales Lady (Department Store) Std Std Std Std Std Std Std
Scaffolder (Construction) 5.00 D D D D D 5.00
School Principal / Assistant Std Std Std Std Std Std Std
Scriptwriter (Movie/TV) Std Std Std Std Std Std Std
Seaman
a. OFFICERS Captain, Chief Mate, 1st, 2nd, 3rd
Mate,
Chief Engineer, 1st, 2nd, 3rd
Engineer, Physician, Nurse, Physical
Therapist Std Std Std Std Std Std Std
Midwife, Chief Cook, Able-body, Tug
Master, Waiter 2 2x 2x D D 2x 2
b. NON-OFFICERS (Boatswain, Carpenter, Cook,
Deckhand, Electrician, Fireman,
Galleyboy, Laundryman/woman,
Machinist, Masseuse, Messman,
Oiler, Ordinary Seaman, Pipefitter,
Plumber, Pumpman, Quartermaster,
Stacker, Trimmer, Valve Tender,
Watchman, Watertender, Welder,
Wiper)
3
D
D
D
D
D
3
c. WORKING IN LUXURY LINER - Waiter/Waitress, Steward/Stewardess,
Room Attendant
2
2x
2x
2x
D
D
2
Secretary Std Std Std Std Std Std Std
Security Guard (See Guard)
Sewer (See Dressmaker)
Shoemaker / Shoe Repairman Std Std Std Std Std Std Std
Singer
working abroad 2.5 D D D D D 2.5
working locally IC IC IC IC IC IC IC
Social Worker Std Std Std Std Std Std Std
Steelman (Construction) 2 1.5x 2x 2x D D 2
Stevedore ("Pahinante") 2 D D D D D 2
Steward/Stewardess
Commercial airline Std Std Std Std Std Std Std
Non-commercial airline IC IC IC IC IC IC IC
Ground Std Std Std Std Std Std Std
Store assistant/ helper Std Std 1.5x 1.5x Std Std Std
Storekeeper/Owner Std Std Std Std Std Std Std
Stuntman 5 D D D D D 5
NB Underwriting Guidelines
135 | P a g e
T LIFE SECURE
(AD&D) WP PC
CARE
(Hosp)
SHIELD/
HEALTH MAX
PROTECTOR
(Term)
Tailor Std Std Std Std Std Std Std
Teacher ( See also Instructor) Std Std Std Std Std Std Std
Technician
Computer, Cellphone Std Std Std Std Std Std Std
Electrical (Appliances) Std Std 1.5x 1.5x Std Std Std
Laboratory / Medical / X-ray Std Std Std Std Std Std Std
Telephone operator Std Std Std Std Std Std Std
Teller (see Cashier)
Tire Moulder/Repairer (motor) Std Std Std Std Std Std Std
Tourist guide Std Std Std Std Std Std Std
Traffic aide 2.5 D D D Std Std 2.5
V LIFE SECURE
(AD&D) WP PC
CARE
(Hosp)
SHIELD/
HEALTH MAX
PROTECTOR
(Term)
Vendor
Market Std Std 2x 2x 2x 2x Std
Street, Roving Std 2x 2x 2x D D Std
Vendor/Owner Std Std Std Std Std Std Std
W LIFE SECURE
(AD&D) WP PC
CARE
(Hosp)
SHIELD/
HEALTH MAX
PROTECTOR
(Term)
Waiter/Waitress Std Std Std Std 2x 2x Std
Warden (see Guard)
Warehouseman Std Std 2x 2x 2x Std Std
Washboy (carwash) Std Std Std Std Std Std Std
Washer (see Laundrywoman)
Weatherman / Forecaster Std Std Std Std Std Std Std
Welder Std 1.5x 2x 2x D D Std
Window cleaner (see Cleaner)
Wrestler (see Athlete)
IC – Individual Consideration (Underwriter)
D – Declined
NB Underwriting Guidelines
136 | P a g e
A LIFE WP SECURE
AD&D PC
CARE
(Hosp)
SHIELD/
HEALTH MAX
PROTECTOR
(Term)
Afghanistan D D D D D D D
Albania F D D D D D D D
Algeria 2/M D D D D D 2/M
Andorra Std Std Std Std Std Std Std
Angola D D D D D D D
Anguilla (UK) Std Std Std Std Std Std Std
Antigua Std Std D D D D Std
Argentina Std Std Std Std Std Std Std
Armenia 3/M D D D D D 3/M
Aruba Std Std Std Std Std Std Std
Australia Std Std Std Std Std Std Std
Austria Std Std Std Std Std Std Std
Azerbaijan 3/M D D D D D 3/M
NB Underwriting Guidelines
137 | P a g e
B LIFE WP SECURE
AD&D PC
CARE
(Hosp)
SHIELD/
HEALTH MAX
PROTECTOR
(Term)
Bahamas Std Std Std Std Std Std Std
Bahrain Std Std Std Std Std Std Std
Bangladesh D D D D D D D
Barbados Std Std D D D D Std
Belarus D D D D D D D
Belgium Std Std Std Std Std Std Std
Belize 2/M D D D D D 2/M
Benin 2/M D D D D D 2/M
Bermuda Std Std Std Std Std Std Std
Bhutan D D D D D D D
Bolivia 2/M D D D D D 2/M
Bosnia D D D D D D D
Botswana D D D D D D D
Brazil Std Std Std Std Std Std Std
British Virgin Island D D D D D D D
Brunei Std Std Std Std Std Std Std
Bulgaria Std Std Std Std Std Std Std
Burkina Faso 2/M D D D D D 2/M
Burundi D D D D D D D
NB Underwriting Guidelines
138 | P a g e
C LIFE WP SECURE
AD&D PC
CARE
(Hosp)
SHIELD/
HEALTH MAX
PROTECTOR
(Term)
Cambodia D D D D D D D
Cameroon 2/M D D D D D D
Canada Std Std Std Std Std Std Std
Canary Islands Std Std D D D D Std
Cape Verde Islands Std D D D D D Std
Cayman Islands Std D D D D D Std
Central African Rep D D D D D D D
Chad 2/M D 2X D D D 2/M
Chile Std Std Std Std Std Std Std
China (Other than preferred cities) 2/M D D D D D 2/M
*Preferred Cities in China
Beijing Std Std Std Std Std Std Std
Chaozhou Std Std Std Std Std Std Std
Chengdu Std Std Std Std Std Std Std
Changchun Std Std Std Std Std Std Std
Chongqing Std Std Std Std Std Std Std
Dalian Std Std Std Std Std Std Std
Dongguan Std Std Std Std Std Std Std
Foshan Std Std Std Std Std Std Std
Guangzhou Std Std Std Std Std Std Std
Haikou Std Std Std Std Std Std Std
Hainan Std Std Std Std Std Std Std
Huizhou Std Std Std Std Std Std Std
Jiangmen Std Std Std Std Std Std Std
Nanjing Std Std Std Std Std Std Std
Qingdao Std Std Std Std Std Std Std
Shanghai Std Std Std Std Std Std Std
Shantou Std Std Std Std Std Std Std
Shaoguan Std Std Std Std Std Std Std
Shenyanh Std Std Std Std Std Std Std
Shenzhen Std Std Std Std Std Std Std
Tianjin Std Std Std Std Std Std Std
Wuhan Std Std Std Std Std Std Std
Xiamen Std Std Std Std Std Std Std
Xian Std Std Std Std Std Std Std
Zhanjiang Std Std Std Std Std Std Std
Zhaozing Std Std Std Std Std Std Std
Zhengzhou Std Std Std Std Std Std Std
Zhongshan Std Std Std Std Std Std Std
Zhuhai Std Std Std Std Std Std Std
NB Underwriting Guidelines
139 | P a g e
C LIFE WP SECURE
AD&D PC
CARE
(Hosp)
SHIELD/
HEALTH MAX
PROTECTOR
(Term)
Fujian Std Std Std Std Std Std Std
Jiangsu Std Std Std Std Std Std Std
Columbia D D D D D D D
*Cartagena 2/M D D D D D 2/M
*San Andres Island 2/M D D D D D 2/M
Commonwealth of the Mariana
Islands (Saipan)
Std Std Std Std Std Std Std
Comoros D D D D D D D
Congo D D D D D D D
Cook Island D D D D D D D
Costa Rica Std Std D D D D Std
Croatia Std Std D D D D Std
Cuba D D D D D D D
Cyprus Std Std Std Std Std Std Std
Czech Republic Std Std Std Std Std Std Std
D LIFE WP SECURE
AD&D PC
CARE
(Hosp)
SHIELD/
HEALTH MAX
PROTECTOR
(Term)
Denmark Std Std Std Std Std Std Std
Djibouti 3/M D D D D D 3/M
Dominica Std Std D D D D Std
Dominican Republic Std Std D D D D Std
E LIFE WP SECURE
AD&D PC
CARE
(Hosp)
SHIELD/
HEALTH MAX
PROTECTOR
(Term)
Ecuador 2/M D 2X D D D 2/M
Egypt IC D D D D D IC
El Salvador 3/M D D D D D 3/M
Equatorial Guinea 2/M D D D D D 2/M
Eritrea D D D D D D D
Estonia Std Std D D D D Std
Ethiopia D D D D D D D
NB Underwriting Guidelines
140 | P a g e
F LIFE WP SECURE
AD&D PC
CARE
(Hosp)
SHIELD/
HEALTH MAX
PROTECTOR
(Term)
Faeroe Islands Std Std D D D D Std
Falkland Islands Std D D D D D Std
Fiji 1/M D 2X D D D 1/M
Finland Std Std Std Std Std Std Std
France Std Std Std Std Std Std Std
French Guiana 2/M D 2X D D D 2/M
French Polynesia Std Std D D D D Std
G LIFE WP SECURE
AD&D PC
CARE
(Hosp)
SHIELD/
HEALTH MAX
PROTECTOR
(Term)
Gabon 2/M D D D D D 2/M
Gambia 2/M D D D D D 2/M
Georgia 3/M D D D D D 3/M
Germany Std Std Std Std Std Std Std
Ghana 2/M D D D D D 2/M
Gibraltar Std Std Std Std Std Std Std
Greece Std Std Std Std Std Std Std
Greenland Std Std Std Std Std Std Std
Grenada Std Std D D D D Std
Guadeloupe Std Std D D D D Std
Guam Std Std Std Std Std Std Std
Guatemala 3/M D D D D D 3/M
Guernsey D D D D D D D
Guinea *Conakry 2/M D 2X D D D 2/M
Guinea-Bissau D D D D D D D
Guyana 2/M D 2X D D D 2/M
H LIFE WP SECURE
AD&D PC
CARE
(Hosp)
SHIELD/
HEALTH MAX
PROTECTOR
(Term)
Haiti D D D D D D D
Honduras 2/M D 2X D D D 2/M
Hongkong Std Std Std Std Std Std Std
Hungary Std Std Std Std Std Std Std
NB Underwriting Guidelines
141 | P a g e
I LIFE WP SECURE
AD&D PC
CARE
(Hosp)
SHIELD/
HEALTH MAX
PROTECTOR
(Term)
India (Other than preferred cities) IC D D D D D IC
*Preferred Cities in India
New Delhi 2/M D D D D D 2/M
Mumbai 2/M D D D D D 2/M
Bangalore 2/M D D D D D 2/M
Indonesia (Except preferred cities) D D D D D D D
*Preferred Cities in Indonesia
Jakarta 2/M D D D D D 2/M
Surabaya 2/M D D D D D 2/M
Medan 2/M D D D D D 2/M
Iran D D D D D D D
Iraq D D D D D D D
Ireland (Eire) Std Std Std Std Std Std Std
Israel Std D D D D D Std
Italy Std Std Std Std Std Std Std
Ivory Coast 2/M D 2x D D D 2/M
J LIFE WP SECURE
AD&D PC
CARE
(Hosp)
SHIELD/
HEALTH MAX
PROTECTOR
(Term)
Jamaica Std D D D D D Std
Japan Std Std Std Std Std Std Std
Jersey D D D D D D D
Jordan 2/M D D D D D 2/M
K LIFE WP SECURE
AD&D PC
CARE
(Hosp)
SHIELD/
HEALTH MAX
PROTECTOR
(Term)
Kazakhstan 2/M D D D D D 2/M
Kenya 2/M D D D D D 2/M
Kiribati Std D D D D D Std
Korea (North) D D D D D D D
Korea (South) Std Std Std Std Std Std Std
Kosovo D D D D D D D
Krygystan D D D D D D D
Kuwait Std D D D D D Std
NB Underwriting Guidelines
142 | P a g e
L LIFE WP SECURE
AD&D PC
CARE
(Hosp)
SHIELD/
HEALTH MAX
PROTECTOR
(Term)
Laos 3/M D D D D D 3/M
Latvia Std Std D D D D Std
Lebanon 2/M D D D Std Std 2/M
Lesotho 2/M D 2X D 2X 2X 2/M
Liberia D D D D D D D
Libya D D D D D D D
Liechtenstein Std Std Std Std Std Std Std
Lithuania Std Std Std Std Std Std Std
Luxembourg Std Std Std Std Std Std Std
M LIFE WP SECURE
AD&D PC
CARE
(Hosp)
SHIELD/
HEALTH MAX
PROTECTOR
(Term)
Macau Std Std Std Std Std Std Std
Macedonia 2/M D 2X D D D 2/M
Madagascar 2/M D D D D D 2/M
Madeira Std Std Std Std Std Std Std
Malawi 2/M D 2X D D D 2/M
Malaysia Std Std Std Std Std Std Std
Maldives Std D D D D D Std
Mali *Bamako 2/M D 2X D D D 2/M
Malta Std Std Std Std Std Std Std
Marshall Islands Std Std D D D D Std
Martinique Std Std Std Std Std Std Std
Mauritania 2/M D 2X D D D 2/M
Mauritius Std Std D D D D Std
Mexico Std Std Std Std Std Std Std
Micronesia Std Std D D D D Std
Moldova 2/M D 2X D 2X 2X 2/M
Monaco Std Std Std Std Std Std Std
Mongolia 2/M D D D D D 2/M
Montenegro D D D D D D D
Montsurrat D D D D D D D
Morocco Std Std Std Std Std Std Std
Mozambique 2/M D 2X D D D 2/M
Myanmar D D D D D D D
NB Underwriting Guidelines
143 | P a g e
N LIFE WP SECURE
AD&D PC
CARE
(Hosp)
SHIELD/
HEALTH MAX
PROTECTOR
(Term)
Namibia 2/M D D D D D D
Nauru Std Std Std Std Std Std Std
Nepal 4/M D D D D D 4/M
Netherlands Std Std Std Std Std Std Std
New Caledonia Std D D D D D Std
New Zealand Std Std Std Std Std Std Std
Nicaragua 2/M D 2x D D D 2/M
Niger D D D D D D D
Nigeria D D D D D D D
Norway Std Std Std Std Std Std Std
O LIFE WP SECURE
AD&D PC
CARE
(Hosp)
SHIELD/
HEALTH MAX
PROTECTOR
(Term)
Oman Std D Std D D D Std
P LIFE WP SECURE
AD&D PC
CARE
(Hosp)
SHIELD/
HEALTH MAX
PROTECTOR
(Term)
Pakistan D D D D D D D
Palau Std Std D D D D Std
Panama 2/M D D D D D 2/M
*exclude Darien province D D D D D D D
Papua New Guinea D D D D D D D
Paraguay 2/M D D D D D 2/M
Peru 3/M Std Std Std D D 3/M
Poland Std Std Std Std Std Std Std
Portugal Std Std Std Std Std Std Std
Puerto Rico Std Std Std Std Std Std Std
Q LIFE WP SECURE
AD&D PC
CARE
(Hosp)
SHIELD/
HEALTH MAX
PROTECTOR
(Term)
Qatar Std Std Std Std Std Std Std
NB Underwriting Guidelines
144 | P a g e
R LIFE WP SECURE
AD&D PC
CARE
(Hosp)
SHIELD/
HEALTH MAX
PROTECTOR
(Term)
Reunion Std D D D D D D
Romania Std Std Std Std Std Std Std
Russia 2/M D D D D D 2/M
Rwanda D D D D D D D
S LIFE WP SECURE
AD&D PC
CARE
(Hosp)
SHIELD/
HEALTH MAX
PROTECTOR
(Term)
Samoa 1/M D 2X D D D 2/M
San Marino Std Std Std Std Std Std Std
Sao Tome & Principe D D D D D D D
Saudi Arabia Std Std Std Std Std Std Std
Scotland Std Std Std Std Std Std Std
Senegal
(Exclude South-Western
Casamance Region)
2/M D 2X D D D 2/M
Serbia 2/M D D D D D 2/M
Seychelles Std Std Std Std Std Std Std
Sierra Leone D D D D D D D
Singapore Std Std Std Std Std Std Std
Slovak Republic Std Std Std Std Std Std Std
Slovenia Std Std Std Std Std Std Std
Solomon Islands 2/M D D D D D 2/M
Somalia D D D D D D D
South Africa
(other than preferred cities)
D D D D D D D
* Preferred Cities
Johannesburg Std Std Std Std Std Std Std
Cape Town Std Std Std Std Std Std Std
Spain Std Std Std Std Std Std Std
Sri Lanka D D D D D D D
St Kitts & Nevis D D D D D D D
St Lucia D D D D D D D
St Vincent & Grenadines D D D D D D D
Sudan D D D D D D D
Suriname 2/M D D D D D 2/M
Swaziland 2/M D 2X D D D 2/M
Sweden Std Std Std Std Std Std Std
Switzerland Std Std Std Std Std Std Std
Syria D D D D D D D
NB Underwriting Guidelines
145 | P a g e
T LIFE WP SECURE
AD&D PC
CARE
(Hosp)
SHIELD/
HEALTH MAX
PROTECTOR
(Term)
Tahiti Std D D D D D Std
Taiwan Std Std Std Std Std Std Std
Tajikistan D D D D D D D
Tanzania 2/M D 2X D D D 2/M
Thailand Std Std Std Std Std Std Std
Tibet 2/M D 2X D D D 2/M
Timor-Leste 2/M D 2X D D D 2/M
Togo 2/M D 2X D D D 2/M
Tokelau Std D D D D D Std
Tonga Std D D D D D Std
Trinidad & Tobago Std Std D D D D Std
Tunisia Std D D D D D Std
Turkey 2/M D D D D D 2/M
Turks & Caicos Is. Std D D D D D Std
Turmenistan 2/M D 2X D D D 2/M
Tuvalu Std D D D D D Std
U LIFE WP SECURE
AD&D PC
CARE
(Hosp)
SHIELD/
HEALTH MAX
PROTECTOR
(Term)
Uganda 2/M D D D D D 2/M
Ukraine 2/M D D D D D D
United Arab Emirates (UAE) Std Std Std Std Std Std Std
United Kingdom (UK) Std Std Std Std Std Std Std
United States (US) Std Std Std Std Std Std Std
Uruguay Std Std Std Std Std Std Std
US Virgin Island D D D D D D D
Uzbekistan 2/M D 2X D D D 2/M
V LIFE WP SECURE
AD&D PC
CARE
(Hosp)
SHIELD/
HEALTH MAX
PROTECTOR
(Term)
Vanuatau D D D D D D D
Venezuela 2/M D D D D D 2/M
Vietnam Std D D D D D Std
W LIFE WP SECURE
AD&D PC
CARE
(Hosp)
SHIELD/
HEALTH MAX
PROTECTOR
(Term)
Wales Std Std Std Std Std Std Std
Western Sahara D D D D D D D
NB Underwriting Guidelines
146 | P a g e
Y LIFE WP SECURE
AD&D PC
CARE
(Hosp)
SHIELD/
HEALTH MAX
PROTECTOR
(Term)
Yemen D D D D D D D
Yugoslavia D D D D D D D
Legend:
D - Declined
Std - Standard
IC - Individual Consideration
NB Underwriting Guidelines
147 | P a g e
DECLINED AREAS IN MINDANAO
ZIP CITY PROVINCE 7300 ISABELA DE BASILAN BASILAN
7302 LAMITAN BASILAN
7301 LANTAWAN BASILAN
7303 MALUSO BASILAN
7305 SUMIPSIP BASILAN
7304 TIPO-TIPO BASILAN
7306 TUBURAN BASILAN
9202 KAUSWAGAN LANAO DEL NORTE
9221 MAGSAYSAY LANAO DEL NORTE
9219 MUNAI LANAO DEL NORTE
9208 PANTAO RAGAT LANAO DEL NORTE
9316 BACOLOD GRANDE LANAO DEL SUR
9302 BALABAGAN LANAO DEL SUR
BALINGIS LANAO DEL SUR
9311 GANASSI LANAO DEL SUR
9710 PIAGAPO LANAO DEL SUR
9705 POONA BAYABAO LANAO DEL SUR
9701 SAGUIARAN LANAO DEL SUR
9704 TAMPARAN LANAO DEL SUR
9614 BARIRA MAGUINDANAO
9615 BULDON MAGUINDANAO
9606 KABUNTULAN MAGUINDANAO
9618 MAMASAPANO MAGUINDANAO
9613 MATANOG MAGUINDANAO
9608 SHARIFF AGUAK (FORMERLY MAGANOY) MAGUINDANAO
9415 ALEOSAN NORTH COTABATO
9408 CARMEN NORTH COTABATO
9409 PIKIT NORTH COTABATO
9810 BAGUMBAYAN SULTAN KUDARAT
9801 COLUMBIO SULTAN KUDARAT
9808 KALAMANSIG SULTAN KUDARAT
NB Underwriting Guidelines
148 | P a g e
ZIP CITY PROVINCE 9807 LEBAK (SALAMAN) SULTAN KUDARAT
9803 LUTAYAN SULTAN KUDARAT
9802 MARIANO MARCOS SULTAN KUDARAT
9809 PALIMBANG SULTAN KUDARAT
9811 SENATOR NINOY AQUINO SULTAN KUDARAT
7407 INDANAN SULU PROVINCE
7400 JOLO SULU PROVINCE
7416 KALINGALAN KALAUANG SULU PROVINCE
7411 LUGUS SULU PROVINCE
7404 LUUK SULU PROVINCE
7409 MAIMBUNG SULU PROVINCE
7413 MARUNGAS SULU PROVINCE
7402 PANAMAO SULU PROVINCE
7415 PANGLIMA ESTINO SULU PROVINCE
7414 PANGUNTARAN SULU PROVINCE
7408 PARANG SULU PROVINCE
7405 PATA SULU PROVINCE
7401 PATIKUL SULU PROVINCE
7412 SIASI SULU PROVINCE
7403 TALIPAO SULU PROVINCE
7410 TAPUL SULU PROVINCE
7406 TONGKIL SULU PROVINCE
7501 BALIMBING TAWI-TAWI
7500 BONGAO TAWI-TAWI
7508 CAGAYAN DE SULU TAWI-TAWI
7509 LANGUYAN TAWI-TAWI
7503 SAPA-SAPA TAWI-TAWI
7505 SIMUNOL TAWI-TAWI
7506 SITANGKAI TAWI-TAWI
7504 SOUTH UBIAN TAWI-TAWI
7507 TAGANAK (TURTLE ISLAND) TAWI-TAWI
7502 TANDU BAS TAWI-TAWI
7123 BALIGUIAN ZAMBOANGA DEL NORTE
7118 GUTALAC ZAMBOANGA DEL NORTE
7124 KALAWIT ZAMBOANGA DEL NORTE
7113 SIAYAN ZAMBOANGA DEL NORTE
7122 SIBUCO ZAMBOANGA DEL NORTE
7120 SIOCON ZAMBOANGA DEL NORTE
7121 SIRAWAY ZAMBOANGA DEL NORTE
7011 BAYOG ZAMBOANGA DEL SUR
7032 DIMATALING ZAMBOANGA DEL SUR
7030 DINAS ZAMBOANGA DEL SUR
NB Underwriting Guidelines
149 | P a g e
ZIP CITY PROVINCE 7027 JOSEFINA ZAMBOANGA DEL SUR
7017 LABANGAN ZAMBOANGA DEL SUR
7037 LAPUYAN ZAMBOANGA DEL SUR
7010 MABUHAY ZAMBOANGA DEL SUR
7004 NAGA ZAMBOANGA DEL SUR
7041 OLUTANGA ZAMBOANGA DEL SUR
7008 PAYAO ZAMBOANGA DEL SUR
7033 PITOGO ZAMBOANGA DEL SUR
7002 ROSELLER LIM ZAMBOANGA DEL SUR
7006 SIAY ZAMBOANGA DEL SUR
7034 TABINA ZAMBOANGA DEL SUR
7012 TALUSAN ZAMBOANGA DEL SUR
7043 TIGBAD ZAMBOANGA DEL SUR
7018 TUNGAWAN ZAMBOANGA DEL SUR
7036 VICENCIO SAGUN ZAMBOANGA DEL SUR