Development Bank of the Philippines vs Court of Appeals

GR No. 109937, 21 March 1994

Facts:
 In May 1987, Juan B. Dans, together with his wife Candida, his son and daughter-in-law,
applied for a loan of Php500,000 with Development Bank of the Philippines (DBP). As the
principal mortgagor, Dans, then 76 years of age, was advised by DBP to obtain mortgage
redemption insurance and so
 The loan was approved but reduced only to Php300,000 and was eventually released.
 Months after, however, Dans died of cardiac arrest, and upon notice, the DBP MRI Pool
notified DBP that Dans was not eligible for MRI coverage since the acceptance age limit
is 60 years old.
