Non-Medical Underwriting

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


3.0

2014/12/01

MA. CRISTINA DELA CRUZ

NBBO - SUPERVISOR

MS. MARIA CARLA CASTILLO

UNDERWRITING - HEAD


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


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. 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


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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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


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


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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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


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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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


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.


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


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


HBsAg is a marker of

infectivity. Its presence

indicates either acute or

chronic HBV infection


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5.13 Anti-HBC IgG Antibodies for

Hepatitis B core

antigen


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


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.


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


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.


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


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


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


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



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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:


Base plan Axelerator 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


*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:


Base plan Ambition X PHP 11,000,000 SP

Riders Protector PHP 1,500,000


b. Existing in-force coverage No existing coverage with AXA


*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:


Base plan Health Max 20-Pay PHP 2,000,000

Riders Secure PHP 2,000,000


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


*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:


Base plan Health Exentials (Starter) PHP 500,000

Rider (Packaged Rider)


b. Existing in force coverage - 2 Health Exentials Advance (PHP 750K) & Deluxe (PHP 1M) within 6 months


*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:


Base plan Ambition X (GIO) PHP 5,000,000 SP

Riders Not Applicable


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


*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:


Base plan Ambition X (GIO) PHP 10,000,000 SP

Riders Not Applicable


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


*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:




of that country.

US telephone numbers and non-

US telephone numbers

At least one of the following:


A withholding certificate



of that country.

Instructions to pay amounts to US

account

A withholding certificate and at least one of the following:




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:


A withholding certificate



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)



5 PHP 18-45 110,000

(PLAN 1500)

440,000

(PLAN 6000)



5 PHP 18-45 114,000

(PLAN 1500)

456,000

(PLAN 6000)



5 PHP 18-45 119,000

(PLAN 1500)

476,000

(PLAN 6000)



5 PHP 18-45 124,000

(PLAN 1500)

496,000

(PLAN 6000)



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)


5-PAY 14-YEAR

5 PHP 18-60 20,577

(PLAN 1500)

57,471

(PLAN 4500)


5-PAY 15-YEAR

5 PHP 18-60 21,098

(PLAN 1500)

58,139

(PLAN 4500)


5-PAY 16-YEAR

5 PHP 18-60 21,646

(PLAN 1500)

59,523

(PLAN 4500)


5-PAY 17-YEAR

5 PHP 18-60 22,223

(PLAN 1500)

60,975

(PLAN 4500)


5-PAY 18-YEAR

5 PHP 18-60 23,149

(PLAN 1500)

62,500

(PLAN 4500)


5-PAY 19-YEAR

5 PHP 18-60 23,810

(PLAN 1500)

64,102

(PLAN 4500)


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


ADVANCE PLAN

TO AGE 55 PHP 20-60 750,000 750,000


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


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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


PAY

PHP 0-65 400,000 4,999,999


PAY

PHP 0-65 5,000,000 N/A


PAY

PHP 0-65 200,000 399,999


PAY

PHP 0-65 400,000 4,999,999


PAY

PHP 0-65 5,000,000 N/A

AXD071A 3G-XCEED SINGLE-

PAY

USD 0-65 5,000 10,999


PAY

USD 0-65 11,000 104,999


PAY

USD 0-65 105,000 N/A


PAY

USD 0-65 5,000 10,999


PAY

USD 0-65 11,000 104,999


PAY

USD 0-65 105,000 N/A


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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


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



(PHP), AXELERATOR

0-65 CLASS 1.5

CLASS 2.0

REGULAR-

800/DAY; ICU

1600/DAY

N/A

MEB3 CARE – YRT

SUPERIOR



(PHP), AXELERATOR

0-65

CLASS 1.5

CLASS 2.0

SUPERIOR-

1200/DAY; ICU

2400/DAY

N/A

MEB4 CARE – YRT

PREMIER



(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


SUPERIOR


FLEXIPROTECT,

HEALTH MAX 20-PAY

18-45 CLASS 1.5

CLASS 2.0

SUPERIOR-

2000/DAY; ICU

4000/DAY

N/A


PREMIER


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


SUPERIOR


CLASS 2.0

SUPERIOR-

2000/DAY; ICU

4000/DAY

N/A


PREMIER


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,



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,



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


18-45 CLASS 1.5

CLASS 2.0


SUM ASSURED

5505T/

5505TS

PROTECTOR –

5-PAY TERM TO 55

ASSURE 5-PAY


18-45 CLASS 1.5

CLASS 2.0


SUM ASSURED

5510T/

5510TS

PROTECTOR –

10-PAY TERM TO 55

ASSURE 10-PAY


18-45 CLASS 1.5

CLASS 2.0


SUM ASSURED

55RPT/

55RPTS

PROTECTOR –

REGULAR-PAY

TERM TO 55

LIFE BASIX, AXELERATOR 18-45 CLASS 1.5

CLASS 2.0


SUM ASSURED

20RPT/

20RPTS

PROTECTOR –

REGULAR-PAY

20-YEAR TERM

ASSURE 20-PAY


18-45 CLASS 1.5

CLASS 2.0


SUM ASSURED


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


DTX511 BRIGHT RIDER

5-PAY 15-YR TERM


DTX512 BRIGHT RIDER

5-PAY 16-YR TERM


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


DTX515 BRIGHT RIDER

5-PAY 19-YR TERM


DTX516 BRIGHT RIDER

5-PAY 20-YR TERM


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



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



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



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



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



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



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



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



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



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



18-60 FOLLOW

BASIC PLAN

PHP 30,000 OR

10% OF BASIC

WHICHEVER IS

HIGHER

100% OF

BASIC

SUM INSURED


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,



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


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


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


AXELERATOR

18-45 CLASS 1.5

CLASS 2.0

PHP 200,000 PHP 10M

(ADULT)

PHP 5M

(JUVENILE


100 | P a g e

II. BULLETIN


101 | P a g e


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106 | P a g e

III. SAMPLE FORMS


107 | P a g e


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120 | P a g e


121 | P a g e

IV. UNDERWRITING TABLES


122 | P a g e


123 | P a g e

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


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


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


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


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


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)


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


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


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


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


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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)


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


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


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


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


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


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


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


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


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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


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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


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


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


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


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


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


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