Terms and Conditions

The buyer hereby declares that:

1. The answers to the above questions and the declarations set forth below shall be the basis of the Insurance Policy and shall form part of the same.

2. The information captured in the Cart. Customer Details, and subsequent pages shall constitute the buyer’s Application for Life Insurance.

3. The person who filled out the blank spaces in the Application for Life Insurance is the buyer himself or herself, and if other than the buyer himself, such person acted under the direction and with authority from the buyer.

4. The buyer declares that all information disclosed in the Application for Life Insurance is correct, complete and truly stated and that the
identification documents presented are authentic and legitimate. The buyer further declares that any amount deposited is obtained through legitimate sources only and does not involve and is not designed for the purpose of any contravention or evasion of any law such as the Anti-Money Laundering Act and the Anti-Terrorism Act), Rules, Regulation, Notification or Directions issued by any regulatory authority in the Republic of the Philippines.

5. The buyer declares that such disclosure of information is made with his or her consent with full understanding of his or her rights under RA No. 10173, otherwise know as the “Data Privacy Act of 2012″or the “DPA”, a copy of which is available at http://www.officialgazette.gov.ph

6. The buyer is fully aware that only upon submission of complete information and documentary requirements will the Application for Life Insurance be processed.

7. If this Application for Life Insurance is not accepted, any amount deposited will be refunded to the buyer, if living, otherwise to the surviving class of the following classes of successive preference beneficiaries: the Insured’s: a. widow or widower b. surviving children born to or legally adopted by the member c. surviving parents d. surviving brothers and sisters e. executors and administrators. An affidavit signed by any individual belonging to the first surviving class of successive preference beneficiaries described above, stating the names and addresses of the persons belonging to such class, shall be sufficient proof to the Insurer that the person or persons so named therein are the sole survivors of such class. Payment of the Insurer based on such affidavit shall be in full acquittance hereunder. If there be two or more beneficiaries, they shall share equally on the proceeds unless otherwise specified by the Insured. All other benefits under this Policy shall be payable to the Insured.

8. There shall be no contract until the modal premium is paid and a Life Insurance Policy is delivered to the buyer via the email address given by the Republic of the Philippines.

9. The Policyholder may cancel the Life Insurance Policy by written notice to Phillife within fifteen (15) days of receipt of the Insurance Policy. The Policyowner shall have a cooling-off period whereby the Life Insurance Policy may be returned within fifteen (15) days of receipt of the Life Insurance Policy and receive a full refund of the premium paid.

10. Article 1250 of the Civil Code of the Philippines (Republic Act 386) relating to extraordinary inflation or deflation shall not apply in determining the extent of liability in the assessment of the Application for Life Insurance.

11. The buyer undertakes to indemnify and hold Philife, its directors, officers, employees, representatives, and successors-in-interest free and harmless from any costs, losses, liabilities, damages, and expenses whatsoever arising out of or in connection with PhilLife’s acceptance or non-acceptance, or action or inaction, upon any such Application.

12. Before click-on of this Application for Life Insurance, the buyer had read the same carefully.