Professional Documents
Culture Documents
St. Peter Life Plan, Inc. is a Pre-Need DeathCare Company that offers affordable traditional
memorial life plans to all segments of society. Since 1970, it has maintained its leadership and
excelled in its role as DeathCare Experts in the DeathCare Services Industry through the
continuous development of its wide range of memorial products and services attuned to the
changing needs of Philippine society.
St. Peter Life Plan has several branches in key cities and municipalities nationwide. It is
supported by the largest network of memorial chapels in the country, St. Peter Chapels, in the
delivery of reliable and world-class DeathCare services. It only entrusts its trust funds to the
country’s leading banks such as Bank of the Philippine Islands (BPI), Banco de Oro (BDO),
Metrobank (MBTC), United Coconut Planter’s Bank (UCPB), Rizal Commercial Banking
Corporation (RCBC) and Security Bank and Trust Company (SBTC) for the protection and
security of its planholders.
St. Peter Life Plan strongly believes in the quality and value of its memorial products and
services; thus, it dares to say that Bawat Pamilya Dapat May St. Peter Life Plan!
FAQ
1. Who can claim the insurance benefits from my St. Peter Life Plan?
2. What are the benefits that my family can claim from my St. Peter Life Plan?
You or your family is entitled to the following benefits from your St. Peter Life Plan:
3. How can my family claim the insurance benefits from my St. Peter Life Plan?
It’s easy! You just have to present the following documents to any St. Peter Life Plan, Inc.
Office and they will process the claims for you! WE PROTECT AND SAFEGUARD YOUR
BEST INTERESTS.
The following are the claims requirements for each specific benefit from your St. Peter
Life Plan:
Police Report
Autopsy Report / Post Mortem Report
Medico-Legal Report
Investigation Report of the Branch Manager
All the same requirements stated in claiming the Cash Assistance Benefit
Processing of documents normally takes about 5 to 10 working days upon filing of the request
for claims. The sooner you submit the complete claims requirements, the sooner you will
receive your claims benefits.
In order to protect you from unauthorized claims and unforeseen circumstances, all monetary
benefits are issued in checks in the name of the proper payees which can be encashed or for
deposit to your account in accordance with established banking regulations and practice.
We have branch offices nationwide. You may file your claims at any St. Peter Life Plan Branch
Office nearest you.
RETURN OF INSTALLMENT/MONEY-BACK GUARANTEE
Upon reaching the end of the sixteenth (16th) year from date of effectivity of the contract, or new
effectivity date, in case of reinstatement, the PLANHOLDER shall be personally entitled to a
return of the contract price paid based on annual mode of payment, provided that the plan is
fully-paid and in-force and that the plan has not been terminated or cancelled and that the
PLANHOLDER has not availed any provisions in ART. XIV (Termination Values), in accordance
with the following schedule and rates:
For purposes of this provision, the PLANHOLDER must be alive at the time he/she starts
receiving the return of installments and must continue to be living until such installments are
fully returned and paid. In case the PLANHOLDER dies after he/she has started to receive the
return of installments, he/she shall be entitled to the memorial services of the plan but such
return of installments shall automatically cease effective at the time of his/her death.
If the plan is assigned to any deceased person in accordance with the provisions, under ART X-
A (Assignment/Transfer) at any time before the PLANHOLDER starts receiving the return of
installments, this provision shall no longer be applicable. However, if the PLANHOLDER
assigns the plan to any deceased person while the PLANHOLDER is receiving the return of
installments, such return of installments shall automatically cease effective at the time the
assignment and return of future installments are considered waived by the PLANHOLDER.
If the PLANHOLDER transfers the plan to any living person in accordance with the provisions,
under ART X-A (Assignment/Transfer) at any time before the PLANHOLDER starts receiving
the return of installments, the transferee may still be entitled to the return of contract price based
on annual mode of payment. But if the PLANHOLDER transfers the plan to any living persons
during the time that the PLANHOLDER is receiving the return of installments, such return of
installments shall automatically cease effective at the time of the transfer and return of future
installments are considered waived by the PLANHOLDER.
After personally receiving the full return of the contract price (based on annual mode of
payment) the memorial services of the plan is exclusively for the PLANHOLDER who can no
longer assign nor transfer the plan.
ADDITIONAL BENEFITS (INSURANCE BENEFITS)
For the protection and by way of assistance to the PLANHOLDER and /or his/her family or
beneficiary, ST. PETER shall maintain the following coverages, generally on a non-medical
basis, provided that the PLANHOLDER is within the insurable ages of 18 to 60 years (not
beyond his/her 60th birthday) at the time of purchase of the plan.
If the PLANHOLDER dies at any time within the paying period and while the plan is still in force,
the unpaid balance of the GROSS CONTRACT PRICE shall be deemed paid, subject to the
limitations provided for in the master policy between ST. PETER and the insuring company.
B. CASH ASSISTANCE
If the PLANHOLDER dies at any time within the paying period and while the plan is still in force,
the beneficiary of the PLANHOLDER, subject to all the conditions and limitations provided for in
the master policy between ST. PETER and the insuring company, shall be entitled to a cash
assistance equivalent to the contract price less the processing fee.
If the PLANHOLDER dies at any time within the paying period and while the plan is still in force,
the PLANHOLDER, between 18-55 years old (not beyond his/her 55th birthday) at the time of
purchase of the plan, shall be indemnified for accidental loss of life, limbs and sight as a direct
result of bodily injury effected solely through external and violent means sustained in an
accident, provided that such loss(es) are incurred within 180 days from the date of the accident
for the loss(es) to be compensable. After due proof is received within 90 days after sustaining
such injury, the PLANHOLDER shall be indemnified as follows:
However, said benefits shall be subject to the standard exception and automatic discontinuance
provisions stipulated under the master policy between ST. PETER and the insuring company.
D. WAIVER OF INSTALLMENT
The PLANHOLDER is exempted from paying the installment if he/she will become disabled and
such disability continues uninterruptedly for a period of at least (6) months.
E. EXTENDED CASH ASSISTANCE
Upon death of the of the PLANHOLDER within five (5) years after full payment of the plan or up
to his/her 65th birthday, whichever comes first, a CASH ASSISTANCE, equivalent to the
contract price less the processing, shall be provided to the beneficiary. In case of spot cash
purchase, the extended cash assistance shall be for ten (10) years from effectivity date or up to
the PLANHOLDER’s 65th birthday, whichever comes first.
ASSIGNMENT/TRANSFER
A. The privileges and benefits of the memorial services described herein may be assigned to
any deceased third person, subject to the following conditions:
1. A plan must be up-to-date in the payment installments. A lapsed plan cannot be assigned.
2. The assignment shall be in writing duly signed by the PLANHOLDER, in standard company
form, and delivered to ST. PETER or its duly authorized representative for confirmation and the
assignment fee is paid.
3. Any insurance coverage provided herein to the PLANHOLDER shall automatically terminate.
4. The plan cannot be assigned within 30 days from effectivity or date of reinstatement.
B. The PLANHOLDER may also transfer his/her rights and privileges under the contract to
another living person at anytime of the transfer. However, the transfer shall be in writing and
with the written confrmity of the transferee who shall be required to qualify therefore as a new
PLANHOLDER (as regards insurability), and delivered to ST. PETER for approval. A new
contract will be issued to the new PLANHOLDER. The transfer may be made only after thirty
(30) days from the effectivity date (or date of last reinstatement) of the plan, provided it is up-to-
date at the time of transfer. Any insurance coverage provided herein to the transferor shall
automatcally terminate.
A plan which has lapsed for more than two (2) years becomes automatically terminated and
cancelled and therefore cannot be trasferred or assigned and the PLANHOLDER shall receive
the termination value of the plan for the amount stated in the table of Termination Values.
ST. PETER is not bound by any transfer of the contract if it is not recorded and approved at ST.
PETER's Head Office or any of its authorized branch offices. ST. PETER cannot be be
responsible for the validity or effect of such transfer. The transfer should be effective only upon
the approval of ST. PETER, payment of the transfer fee and the issuance of a new contract to
the new PLANHOLDER.
TERMINATION VALUES
The plan may be terminated and the PLANHOLDER may receive termination value in two (2)
instances:
(a) When the PLANHOLDER's beneficiaries or lawful heirs choose to receive the termination
value of the plan in case of "UNRENDERED SERVICE" for an amount in accordance with the
Table of Termination Values.
(b) When the PLANHOLDER chooses to surrender his/her contract by written notice or
application for the termination value of the plan, if any, in accordance with the Table of
Termination Values.
Any installment received by ST. PETER after termination of the contract, shall be refunded to
the PLANHOLDER and shall not create any liability on ST. PETER.
After the Plan Termination has been paid, ST. PETER shall be discharged from any liability or
obligation in the contract.
GRACE PERIOD
The PLANHOLDER is given a grace period of sixty (60) days from the due date of the first
unpaid installment in default within which to pay the accrued installments due, and if it is not
paid after said period, the contract shall lapse.
If the plan becomes deliquent beyond the grace period despite the written notice that the plan
shll lapse, if no payment is made within the grace period, then the contrct shall ipso facto be
considered automatically lapsed and without force or effect. However, the PLANHOLDER may
reinstate his/her plan in accordance with Article XII hereof. A lapsed plan of a deceased
PLANHOLDER can no longer be reinstated.
REINSTATEMENT
The PLANHOLDER has two (2) years from the end of the grace period within which to reinstate
the plan. If no reinstatement is made before the reinstatement period despite written notice that
the plan shall be terminated if not reinstated within the said period, the plan shall be
automatically terminated and the PLANHOLDER shall be entitled to the termination value as of
the date of the first unpaid installment in default. The PLANHOLDER may apply for
reinstatement by first filing of application for reinstatement in the standard company form from
approval and paying the reinstatement fee. Reinstatement may be done through REDATING,
which refers to the payment of one (1) current installment based on the prevailing price, terms
and conditions. The effectivity date of the contract is adjusted by the number of months lapsed.
If the PLANHOLDER is still insurable, the contestability period starts anew for a period of one
(1) year from date of approval of the request for reinstatement described above. If the
PLANHOLDER is no longer insurable, he/she may opt to continue paying the plan without the
insurance coverage.
Payment made after the contract has lapsed without submitting an application for reinstament
will only be treated as a deposit, and will be applied to reduce the outstanding balance of the
Gross Contract Price of the Plan in case the Contract is eventually reinstated. Otherwise, the
liability of ST. PETER shall be limited only to the return of such payments to the PLANHOLDER.