Agency Manual 7.0

FWD Philippines
TABLE OF CONTENTS
1. FWD Company Profile

2. Definition Of Terms
3. Role of Agents (Leaders & Planners) and the legal relationship with
FWD
4. Hierarchy Structure
5. Validation Standards, Promotions & Demotions
6. Persistency
7. Compensation & Benefits
7.1 Basic Commissions
7.2 Premium Paying Rider Commissions
7.3 Individual Commissions & Case Count Credits for Kanduu
Products
7.4 Overrides
7.5 Bonuses
7.6 Compensation Cycle
8. Corporate Care Business
9. Incentives & Competitions
10. Training
11. Licensing
12. Recruitment
13. Policies & Procedures
14. Internal Replacement Guidelines
15. Market Conduct Guidelines & Code Of Discipline
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1. FWD Company Profile
1.1 About FWD Philippines
FWD launched its commercial operations in Philippines in September 2014 and, by March 2017,
became the life insurer with the highest level of paid-in capital of any Philippines life company with
Php 2.3 billion in paid-up capital.1 Based on premium income data published by the Insurance
Commission2, FWD Life was ranked 8th in the insurance industry in Philippines in terms of weighted
business premiums at the end of 2018.3 In the Philippines, FWD has 19 business hubs, with several
more planned for imminent opening, located in key cities nationwide and its headquarters is in
Bonifacio Global City, Taguig.
FWD Group operates in Hong Kong & Macau, Thailand, Indonesia, the Philippines, Singapore, Vietnam,
Malaysia and Japan, offering life and medical insurance, general insurance, and employee benefits to
individuals and companies. Established in Asia in 2013 and headquartered in Hong Kong and
Singapore, FWD is the insurance business arm of Pacific Century Group.
FWD is focused on creating great customer experience with easy-to-understand products, supported by
digital technology. Through this customer-led approach, FWD has become a leading pan-Asian insurer
that changes the way people feel about insurance.
For more information, please visit fwd.com.ph.
www.insurance.gov.ph > Statistics > 2017 > Based on Paid-Up Capital

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www.insurance.gov.ph > Statistics > 2018 > Based on Premium Income

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3 Weighted Business Premium Income: 100% of first-year premium on regular-pay plans + 10% of single-pay premiums
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2. Definition Of Terms
2.1 Agent –an independent contractor under the Agency Channel who is licensed to
present and sell FWD products. For the purposes of this Manual, an Agent may be
a Financial Wealth Planner (FWP) or an Agency Leader.
2.2 Financial Wealth Planner (FWP) – the first-level Agent of FWD who is a personal
producing independent contractor. The FWP reports to an Agency Leader.
2.3 Agency Leader – refers to any of the leader categories set out below:
2.3.1 Associate Financial Wealth Officer (AFWO) – is the first management
level in FWD’s Agency Hierarchy. The AFWO is a transitional position to
enable FWPs who aspire to become Financial Wealth Officers to learn
and acquire the basic skills needed to succeed in that role. It is
intended that the AFWO will achieve promotion to the FWO level
within 2 years of appointment. Once appointed, an AFWO will lead a
unit of FWPs.
2.3.2 Financial Wealth Officer (FWO) – an Agency Leader who leads a unit of
FWPs and AFWOs.
2.3.3 Associate Financial Wealth Manager (AFWM) – an Agency Leader who
aspires to be a Financial Wealth Manager. The AFWM level is a
transitional 2 year program within which he develops the broader skills
needed to succeed as a FWM. It is intended that the AFWM will
achieve promotion to FWM within 2 years of appointment.
2.3.4 Financial Wealth Manager (FWM) – an Agency Leader who leads a
branch, supervising AFWMs, FWOs, AFWOs and may have direct FWPs.
2.3.5 Financial Wealth Director (FWD) – an Agency Leader who supervises
FWMs, AFWMs, FWOs, AFWOs and may have direct FWPs. FWD is the
highest leader level within our Agency hierarchy.
2.4 Agency Development Manager (ADM) – an employee of FWD who manages and
provides support to a team of agency leaders and FWPs. The ADM reports to the
Territory Sales Director or Territory Sales Head.
2.5 Territory Sales Director (SD) and Territory Sales Head – an employee of FWD who
manages a team of ADMs and reports to the Head of Agency Sales, Chief Agency
Officer (CAO) or the Chief Distribution Officer (CDO). A SD may also report in to the
Territory Sales Head.
2.6 Head of Agency Sales / Chief Agency Officer – an employee of FWD who oversees
the sales of the Agency Channel.
2.7 Chief Distribution Officer (CDO) – an employee of FWD who oversees the
operations and sales of all face to face Distribution Channels.
2.8 Active Agent (AA) – an Agent who has at least one policy sold and issued in a
month. (For the purpose of AA definition, Peace Plan does not count as a full case –
3 Peace Plans are required to be counted as 1 case for AA purposes).
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2.9 Annualized Premium Equivalent (APE) – annualized first year premium for policies
issued in the accounting period. (e.g. 12 x monthly premium; 4 x quarterly
premiums etc.). Single premiums are counted as 10% of the single premium paid
for APE purposes.
2.9.1 Policy cancellations and premium reductions are included as negative
APE while increases in premiums are taken up as positive APE during
the accounting period.
*Top Ups, whether Ad Hoc or regular, are treated as Single Premium

for APE purposes.
2.10 Premium – the payment made to FWD to provide coverage under an insurance
plan for a defined period of time.
2.10.1 First Year Premium (FYP) - for MDRT purposes, these are first year
premiums received by the company during the current calendar year. .
2.10.2 Second Year Premium (SYP) – second year premiums received by the
company during the current calendar year.
2.11 Commission – a fee paid to the Agent based on a percentage of the premiums
received by the Company from the Agent’s closed sale and issuance of an insurance
policy.
2.11.1 First Year Commission (FYC) – First year commissions earned by the
agent during the current calendar year from premium payments made
on a policy’s first year.
2.11.2 Renewal Year Commission (RYC) – Commissions earned by the agent
during the current calendar year from premium payments made after
the policy’s first year.
2.12 Override – The Agency Leader’s remuneration based on a percentage of the

earned Commissions of agents within his structure.
2.12.1 First Year Override (FYO) – refers to the percentage of FYC for sales
generated by the Agents under the Agency Leader’s supervision
including the Agency Leader’s personal sales*.
2.12.2 Second Year Override (SYO) – refers to the percentage of Second Year
RYC for sales generated by the Agents under the Agency Leader’s
supervision including his personal sales*.
* AFWO level leaders do not qualify for override on their own

personal sales.
2.13 Persistency – The measure of how consistently clients pay premiums to keep
their policy in-force.
2.14 Activity Booster Bonus (ABB) – a monthly bonus earned by an agency leader
based on the number of active agents in his/her team excluding himself/herself.
2.15 Quarterly Persistency Bonus (QPB) – a quarterly bonus for personal producing
planners and leaders. The main gate is the 19th month persistency as of the end of
the last month of the quarter. A planner must meet the minimum 19th month
persistency of 75% to be eligible to be paid the bonus.
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The formula for this bonus is:
Sum of Second Year Commissions (SYC) for the quarter on personal sales x QPB
bonus rate.
2.16 Quarterly Volume Bonus (QVB) – a quarterly bonus based on personal

production of planners and leaders. The main gates are issued APE in the quarter
and the 19th month persistency as at end of the last month of the quarter. A
minimum 19th month persistency of 70% and a minimum of PhP120,000 APE are
required for the quarter in order to be eligible for the bonus.
The formula for this bonus is:
First Year Commissions (FYC) on personal sales for the quarter x QVB bonus rate.
2.17 Validation Standards – production, manpower and persistency parameters

used to assess whether an agent may retain his/her current level in the hierarchy.
2.18 Promotion Standards – parameters used in determining eligibility for an agent

to move to a higher leader level.
2.19 eConnect - is the online version of Connect, FWD’s on-boarding training

program. It provides vital information to equip new Financial Wealth Planners to
make their first sale.
2.20 ALEX – is a learning and development platform where agents can download
learning materials that they can use in the carrying out of their business. It also
hosts the Smart Recruitment Tool (SRT) – an application which can help agents
recruit by leveraging on social media and other messaging apps. It also provides
recruiters a platform to upload securely their recruit’s requirements online as we
strive for a paperless recruitment process.
2.21 Agent get Agent – A program where a planner can refer another planner and
earn overrides from the businesses sold by the recruited planner in the first year.
2.22 Market Conduct Guidelines (MCG) – guidelines that consolidate all applicable
provisions of the Insurance Code, rules and regulation of the Insurance Commission
and relevant insurance industry associations and the terms and conditions of the
Agency Agreement.
2.23 Agency Code of Discipline – outlines the standards of conduct and provides a
comprehensive list of, and categorises, breaches with a corresponding set of
sanctions that may be imposed in the event of any breach
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3. Role of Agents (Leaders & Planners) and the legal relationship with
FWD
3.1 The Agent’s Role

3.1.1 To identify qualified prospects, meet with them to uncover and
establish their financial needs and sell appropriate FWD policies to help
meet these needs and then provide ongoing service to policyholders.
3.2 The Agent’s Responsibilities

3.2.1 The Agent must be properly licensed by the Insurance Commission (IC)
and FWD to sell both traditional and variable life policies and ensure
that such licenses are renewed as may be required by IC.
3.2.2 Meet with existing and prospective clients and provide appropriate
financial advice to them based on their needs and wants.
3.2.3 After the sale, the Agent is responsible for servicing and attending to
the customer’s queries, ensuring the policy is kept in force as well as,
when necessary, assisting with any claims.
3.2.4 Attend compulsory training as directed by the company to ensure a full
understanding of FWD products and FWD Sales Process to improve
competencies to better serve customers.
3.2.5 Ensure completeness and accuracy of all information in all applications
submitted.
3.3 The Leader’s Role

3.3.1 Manage the growth and development of a unit of agents. Oversee the
day to day operations of his/her Leaders and Financial Wealth Planners.
3.3.2 The Agency Leader role includes four key activities:
3.3.2.1 Recruit agents
3.3.2.2 On-board and train new agents
3.3.2.3 Ensure agents are active
3.3.2.4 Develop and retain productive agents
3.4 The Leader’s Responsibilities

3.4.1 Ensure that he/she is properly licensed by the Insurance Commission
(IC) and FWD in both traditional and variable life and that the licenses
are renewed as may be required.
3.4.2 Ensure that his/her agents are properly licensed by the IC and FWD and
assist with and ensure licences are renewed as required.
3.4.3 Find and recommend for appointment potential new agents who
possess the qualifications and qualities as prescribed by the IC and
ensure the completeness and accuracy of all information in all
documents submitted for licensing by his/her recruits and existing
agents.
3.4.4 Recommend/support the promotion of agents to a higher agency
leader level upon satisfaction of the promotion parameters. Where
appropriate, also recommend the termination of an Agent’s Agreement
by giving valid reasons for doing so in writing. The final decision
whether to effect such termination and appointment of Planner to
Leader shall rest solely with the FWD’s Sales Management Team.
Promotion of a Leader to one higher
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Leader level does not require SMT approval as long as all promotion
parameters are met.
3.4.5 Ensure that the standards that FWD may set as service commitments to
its customers are met. He/she shall be responsible for all the acts and
omissions of his/her Agents.
3.4.6 Attend compulsory training as directed by the company to ensure a full
understanding of FWD products and FWD Sales Process to improve
competencies to better serve customers.
3.4.7 The Leader shall be responsible for the proper staffing of the agency
office with employees personally engaged by him/her in order to
conduct the regular operations of the agency. The exception is the
‘Branch Executive’ who is an employee of FWD.
3.5 The Agent/Leader Legal Relationship with FWD

3.5.1 The Agent/Leader is not an Employee of FWD.
3.5.2 The Agent/Leader is a self-employed entrepreneur who is free to use
his own time, place, method and resources in achieving the required
and desired results.
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4. Hierarchy Structure
The Agency Hierarchy includes Financial Wealth Planners and 5 Leader levels – Associate Financial
Wealth Officer, Financial Wealth Officer, Associate Financial Wealth Manager, Financial Wealth
Manager and Financial Wealth Director. It is designed to promote vertical and horizontal growth
to achieve scale and will help achieve Agency expand through internal promotion as well as
making it possible for a leader to recruit externally a reporting Leader.
The Leader levels are shown below:
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5. Validation Standards, Promotions & Demotions
5.1 Validation Standards
Each level within the hierarchy structure has validation standards which must be
achieved in a calendar year in order for that level to be retained for the following year.
For FWPs, the standards are based on APE and Persistency. For Leaders, the standards
are based on team APE, team persistency and validating manpower. These standards are
not targets and the achievement of them does not indicate good performance but are
the minimum levels required to avoid demotion or termination. The validation standards
for each level are shown in the table below:-
Agent VALIDATION STANDARDS

Level APE MANPOWER 19th Month
PERSISTENCY
FWP 40K rolling 6 months Nil 70% Personal
And 120K for 1 Year
AFWO 3.6M 3 validating FWPs 65% Team
FWO 4.8M 3 Validating FWPs 65% Team
AFWM 7.5M 2 Validating FWOs/AFWOs 65% Team
FWM 12.0M 2 Validating FWOs/AFWOs 65% Team
FWD 75 M 2 Validating FWMs/AFWMs 65% Team
5.1.1 Those coded during the second half of the year are exempt from
achieving the minimum requirements (except FWPs who must meet the
rolling 6 month requirement), except persistency which must be met.
Leaders appointed before the end of June of the current year shall
undergo validation on a pro-rata basis. Planners appointed in the first
half must meet the full minimum validation for the year.
5.1.2 FWPs will be validated on a monthly basis using the rolling 6-months rule
and at the year-end using the 120K APE per calendar year rule.
5.1.3 If a Planner fails to meet the validation requirements, his Agency

Contract may be terminated or, in some circumstances and at the
discretion of Senior Management, be given an extended period in which
to validate.
5.1.4 If a leader does not validate on his/her current role but only meets the
standards of the next lower level, he/she will be re-classified accordingly
within Q1 of the following year.
5.1.5 If a leader does not validate at his/her current role in the current year
but only meets the standards even lower than the next level, he/she will
be reclassified one level down and will have to meet the run-rate for that
level until June of the following year in order to retain it.
5.1.5.1 If the said individual achieves the run rate as above, he/she
will be maintained at that level until the year end when
normal end of year validation will take place.
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5.1.5.2 If the individual does not meet the run rate by end of June
of the current year, he/she will then be demoted to
whatever level he/she actually validated in the previous
year.
5.1.6 If the only failing is persistency with all other parameters being met, the
Leader will be given 6 months to achieve the minimum persistency
requirement or be demoted to the next level down.
5.1.7 If a Leader is demoted to FWP, the FWPs previously under that Leader
shall be transferred to either:
5.1.7.1 The Agency Leader to whom the demoted Leader will be
reporting to; or
5.1.7.2 Any Agency Leader requested by the Agents subject to
approval of the up line Leaders and SD and/or ADM.
5.1.8 If a Leader achieves the APE validation threshold and has the required
number of headcount but fails on the validating headcount criterion,
Management may exercise discretion on a case by case basis to allow
exemption from demotion or to allow more time to reach the required
number of validating FWPs/Leaders.
5.1.9 Individuals appointed to their leader level from July of the current year
onwards shall not be included in the validation exercise for the current
year. Those appointed to their leader level before the end of June of the
current year shall undergo validation on a pro-rata basis.
5.1.10 All reclassification shall be subject to the final approval of Senior

Management except where promotion parameters are met for an
existing leader to go to the next level, and promotion up one level is a
right, based on merit, if the leader wants to be promoted. See
Promotions below.
5.2 Promotions
A key driver to the growth of Agency is organic growth. Internal promotions play a vital role
in helping to achieve scale.
5.2.1 Promotion Parameters
Planners who aspire to become a Leader must meet the necessary promotion
parameters to do so. Similarly, Leaders who aspire to progress through the Leader
levels towards becoming a Financial Wealth Director at the apex of the Agency
Hierarchy must meet the relevant promotion parameters to do so. The following
are the parameters that form the basis of achieving promotion to any given level.
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STEP-UP PROMOTION STANDARDS
MOVEMENT APE MANPOWER 19th month PERSISTENCY
At least 80% upon
At least 2 licensed
FWP  AFWO Nil recommendation &
recruits
at least 85% prior to promotion
FWP  FWO 4.8M 3 Validating FWPs 85% Personal
AFWO  FWO 4.8M 3 Validating FWPs 80% Team
2 Appointed
FWO  AFWM 7.5M 80% Team
FWOs/AFWOs
2 Validating
AFWM  FWM 12.0M 80% Team
FWOs/AFWOs
2 Validating
FWO  FWM 12.0M 80% Team
FWOs/AFWOs
2 Appointed
FWM  FWD 75.0M 80% Team
FWMs/AFWMs
5.2.1.1 With the exception of promotion from Planner to AFWO,

promotion to one level up may take place on merit – i.e. if
the promotion criteria to the next level are achieved and the
Agent wants to be promoted, neither the up line Leader nor
Agency Management can block the promotion.
5.2.1.2 Where a leader meets the promotion parameters for more
than one level up and wants to be promoted to that level,
approval/endorsement is required by the up line leader,
ADM/SD and senior management – i.e. it is not
automatically approved ‘on merit’.
5.2.1.3 In the case of an FWP who seeks promotion, they must
meet the APE and persistency requirement and be
endorsed by the ADM and up line leader to become an
‘AFWO Candidate’. The aspirant AFWO then becomes
eligible to attend the pre-requisite training program
(Shifting Gears).
5.2.1.4 Shifting Gears is a mandatory, preparatory program for all
aspirant AFWOs to attend. It covers topics ranging from
Recruiting and Selecting, Activating and Sustaining
momentum, coaching, mentoring, and monitoring to
Inspiring and motivating the newly acquired recruits.
5.2.1.5 Qualifications to enter the AFWO program:
SITUATION A: FWP-AFWO
 Must have at least 2 recruits (under Agent-get
Agent) program
 Must have a persistency of at least 80% upon
recommendation
 Must have completed Shifting Gears &
presented his/her business plan
 Must have a persistency of at least 85% prior to
promotion
 Must have the sign-off of both ADM & Up-line
Manager to be promoted.
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SITUATION B: Appointed AFWO upon joining FWD
 Must complete Shifting Gears & presented
his/her Business plan
promotion
 Must have the sign off of both ADM and Up line
Manager to be promoted
SITUATION C: FWO demoted to AFWO

 Must undergo and complete Shifting Gears and
present his/her Business plan
promotion
 Must have the sign off of both ADM and Up line
Manager to be promoted
*Appointed AFWOs are no longer subject to the annual

contractual validation; however, if they fail to hit the
parameters for promotion to FWO within 2 years from
AFWO appointment, they will automatically be demoted to
PLANNER.
5.2.1.6 Prerequisite for Appointment to AFWO:

• Achievement of APE and persistency parameters
• Endorsement of ADM and up line Leader
• Successful Completion of Shifting Gears
• Submission of the 2 year business plan validated by
his/her respective ADM
• Up line Leaders’ (FWO, AFWM, FWM) and Sales
Director Approval of the Business Plan.
When all the criteria are met, Elite Leader Development will
endorse the names to Distribution Support to trigger the
processing of the official appointment of the candidate to
AFWO status. Promotion will take effect at the next quarter
start date (January, April, July and October).
5.2.1.7 Qualifications for Promotion from AFWO to FWO:

To be promoted to FWO, the AFWO must fulfill the
following requirements:
 Must have achieved P4.8 M APE at any given time,
within a 2 year period from appointment as AFWO
(regardless of the circumstance of being an AFWO)
 Must have at least 3 coded recruits
 Must have completed Shifting Gears and presented
his/her Business plan
 Must have a persistency of 85% prior to promotion
5.2.1.8 The AFWO and AFWM positions are intended to be interim

appointments lasting up to 2 years. Once appointed to
either of these levels, the promotee has 2 years to meet
the promotion criteria (APE, manpower, persistency) for
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the next level (either FWO or FWM) upon which promotion
to that level will take place. If the criteria are not met
within 2 years, demotion, at the discretion of senior
management, to the previous level will take place. In the
case of an AFWO who is demoted back to FWP, his recruits
will be assigned to other Leaders.
5.2.1.9 Within the Agency Hierarchy, it is not permitted for leaders

of the same level to report to one another – e.g. it is not
possible for an FWM to have a reporting FWM within his
structure. Nor is it permitted for a higher level Leader to
report into a lower Level – e.g. an FWM reporting into an
FWO. Problems may occur when a downline Planner or
Leader is promoted as, if the promotion is to the same level
as the Leader himself, the newly promoted agent will be
required to ‘spin off’ from the original leader. The hierarchy
is designed to minimise this situation. Planners reporting
into an FWO, when promoted, will usually become AFWO
and so there is no issue. Likewise, if an FWO reporting into
an FWM is promoted, the promotion will normally be to
AFWM – again, no issue. The FWD hierarchy model
intends and assumes that, as Planners and Leaders develop
and become ready for promotion, their up line Leader will
similarly be ready for promotion to the next level. If that
happens, no ‘same level to same level’ conflict takes place
until the level of FWD is reached in which case spin off
must take place. The FWD level aside, the model assumes
when the AFWO achieves promotion, the up line FWO will
progress to AFWM – upon promotion of the AFWM to
FWM, the up line FWM is ready for promotion to FWD. In
these cases, the up line can then retain the promoted
leader in his own structure having himself moved up to the
next level. In cases where a Leader is promoted to the same
level as his up line Leader and that Leader is not ready for
promotion himself, and where an FWM is promoted to
FWD (if reporting to an FWD prior to promotion), spin off
will take place – this is dealt with below.
5.2.1.10 An Agency Movement Form (AMF) for promotions on merit

of the Leader must be completed and endorsed by the
relevant SD or ADM.
5.2.1.11 The AMF for promotions for two or more levels (e.g. FWO
to FWM, by-passing the AFWM level) must be completed
by the next 2 up-line leader levels and endorsed by the SD
or ADM and approved by Senior Management.
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5.2.2 Spin Off
Spin-off happens when a leader is promoted to the same level or above

as his up line leader and is forced to ‘move out’ of the up line leader to
become a separate structure from the original up line’s structure. The
operative term here is “move out.”
5.2.2.1 When an AFWO is promoted to FWO and his direct leader is

simultaneously promoted to AFWM, there is no spin-off.
No one moved out and they remain in the same structure.
5.2.2.2 If an AFWO or AFWM achieves the promotion requirements
to become a full FWO or FWM but the up line Leader has
not progressed to the next leader level, the promoted
Leader must spin-off and the relevant spin off bonus will
come into play.
5.2.2.3 A further case where spin-off would apply is where an
FWM who reports into a FWD is promoted to FWD. The up
line FWD (if there is one) will then lose the newly promoted
FWD’s structure (i.e. it will ‘spin off’) and so will qualify for
a spin-off bonus.
5.2.2.4 The final scenario where spin off may apply is if a Planner
achieves all the criteria for promotion to full FWO without
first becoming an AFWO or if an FWO is promoted directly
to FWM. These circumstances, although possible, will be
rare and in all cases must be approved by Senior
Management
5.2.2.5 Spin off bonus will be payable to the leader from which the
promoted agent has ‘moved out’ at the rate of 10% of FYC
from the spin-off structure, including any additions to it as
the promoted leader builds the team, for a period of 4
years.
5.2.2.6 In the event the spun-off Leader does not validate and is
demoted to a lower leader level, he/she will return to the
previous up line Leader’s structure, spin-off will cease and
normal overrides will resume.
5.2.2.7 There is no spin-off for AFWO and AFWM levels since these
are transitional roles on the way to become the next level
fully-fledged leader.
5.3 Demotions
Demotions happen when an agent does not meet any or all of the validation
parameters: APE, Validating Manpower (in the case of Leaders) and Persistency.
See Validation Standards.
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6. Persistency
Persistency is the measure of the subsequent premium collection efficiency on a block of

business of an Agent over a rolling period.
6.1 19th Month Persistency
19th Month Persistency is a measure of how consistently clients pay their premiums due within
the preceding 19 months. The 19th Month persistency measure is used for all validation,
commission, override and bonus calculations. For 2020 FWD will use to computation methods
LIMRA 19 & the Simplified 19th month persistency computation.
Formula for 2019 (LIMRA 19th Month Calculation):
100% - (Total Lapsed APE of the Last 12 Months + Total Reinstated APE of the Last 12 Months)
Total Exposure of the last 12 months
Where:
Total Lapsed APE of the Last 12 Months = Sum of Current Month Lapsation in previous 12
months
Total Reinstated APE of the Last 12 Months = Sum of Current Month Reinstatement in previous
12 months
Current Month Reinstatement = Total APE of polices which was reinstated in current month
Total Exposure of the last 12 months = Sum of Current Month Exposure in previous 12 months.
Current Month Exposure = Average of New Business APE issued in the previous 18 months
after a 3-month lag period*
* A 3-month lag in the calculation of monthly exposures for reporting as allowance for the
expiration of the grace period and lapse processing will be applied. Therefore effectively considers new
business issued within the 4th to 21st months from reporting date.
Conditions:
• APE is computed as follows:

Regular Paying Policies = 100% of the Annual Premium
Regular Paying Policies are considered lapses if, as of the study period, the policy did not
complete its 19th month premium, i.e., policy that lapses without completing the
payment of one of the following:
 19th monthly premium payment
 7th quarterly premium payment
 4th semi-annual premium payment
 2nd annual premium payment
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• For Single-Pay, a policy is considered lapsed under LIMRA 19 if it is fully surrendered on
or before the 19th policy month.
• Reinstatements includes lapses of previous years that were reinstated within the current
study period.
• Premium Holiday and Decrease in Regular Premium are considered as lapse.
• Reinstatement will count as negative lapse on the month of reinstatement.
• Agency Leaders are responsible for all policies sold by Agents that are under their group.
Policies sold by Agents from their group will always remain a part of the Agency Leaders’
persistency rate.
• Agents with 0% Exposure will be granted 100% Persistency Rate.
• In the case of Orphan policies, any lapse or business should be counted in the calculation
both for personal and team persistency.
Note: FWD will, during 2020, shift from the current 19th month formula to a
simplified 19th month persistency computation wherein there will be
parallel run until the end of the year. The company will use whichever
is higher between the two (2) computation for bonuses & contests.
Formula for the Simplified Persistency:
Sum of NB APE - Sum of Lapse APE (19th mo lapse) + Sum of Reinstated APE (19thmo lapse /reins)
Sum of NB APE
Components:
New Business APE the total APE of the planner or the APE of the team (for leaders) for the last
12 months.
Lapse APE the total 19th month lapse APE of the planner or the team for the last 12 months
Definition of a 19th month lapse policy
• Monthly mode – policy that lapsed within its first 19 monthly premium payments
• Quarterly mode – policy that lapsed within its first 7 quarterly premium payments
• Semi-annual – policy that lapsed within its first 4 semi-annual premium payments
• Annual – policy that lapsed within its first 2 annual premium payments
Reinstated APE the total 19th month lapse reinstated APE of the planner of the team for the last
12 months. (please refer to the definition of 19th month lapse above).
Important Points to remember for the Simplified Persistency:

• No more exposure (averaging);
• No more 3-month lag period for new business;
• 12 month study period;
• Single premium and top ups are no longer included in the persistency computation
• Policies included in lapse bucket:
• Monthly Mode: lapse within the first 19 monthly premium payments;
• Quarterly Mode: lapse within the first 7 quarterly premium payments;
• Semi-annual Mode: lapse within the first 4 semi-annual premium payments;
• Annual Mode: lapse within the first 2 annual premium payments.
• Reinstatements: policies to be reinstated must be 19th month lapsed policies as defined
above (refer to 19th month lapse definition).
- 16 -
7. Compensation & Benefits
7.1 Basic Commission
Commissions are payable on the successful issuance of policies sold. The level of commission
payable depends on the type and term of the policy based on the percentage of premiums
received by the company as enumerated below:
Year
Product 1 2 3 4 5 6 7-10
5 Pay Set for Life 30% 10% 5% - - n/a n/a
7 Pay Set for Life 35% 10% 5% - - - -
10 Pay Set for Life 40% 15% 5% 5% 5% - -
Whole Life Pay Set for Life 43% 15% 5% 5% 5% - -
Regular Top-Up 2.0% of regular top-up premium paid
Single Pay, Adhoc Top up amounting to 100,000
2.0% n/a n/a n/a n/a n/a n/a
up to 499,999
Single Pay and Adhoc Top up amounting to
500,000 to 1,499,999
1,500,000 to 4,999,999
5,000,000 and up
Peace Plan 20% 20% 20% 20% 20% 20% 20%
Fight Plan 5 Pay 30% 10% 5% - - n/a n/a
Fight Plan 10 Pay 40% 15% 5% 5% 5% - -
Set For Health 5 Pay 30% 10% 5% - - n/a n/a
Set For Health 10 Pay 40% 15% 5% 5% 5% - -
Set For Health 20 Pay 45% 20% 10% 5% 5% 5% 5%
Dollar All Set Higher*
Single Pay and Adhoc Top up amounting to 1.75% 0.1% 0.1% 0.1% 0.1% 0.1% n/a
US$ 20,000 to 29,999
US$ 30,000 to 99,999
US$ 100,000 to up
- 17 -
Agency Basic Commissions
Renewal
Set for Tomorrow
Plan Codes 1st Year 2nd 3rd 4th
5th Yr
Yr Yr Yr
5-Year Term
TT03 10%
(5YT) – SP
5-Year Term (5YT) - 5P TT01 30% 10% 10% 10% 10%
10-Year Term (5YT) – SP TT04 10%
10-Year Term (5YT) - 10P TT02 35% 10% 10% 10% 10%**
Term-To-Age 55 (T55) 1P TT05 10% NA NA NA NA
Term-To-Age 55 (T55) 5P TT09 35% 10% NA NA NA
Term-To-Age 55 (T55) RP TT11 45% 10% NA NA NA
Term-To-Age 120 (T120)
TT19 35% 10% NA NA NA
10P
*Premiums to compute for Dollar All Set Higher commissions will be converted to Philippine Pesos, and
commissions will be payable in Philippine Pesos. To receive the trail commission for Dollar All Set Higher,
policy must be inforce.
** Commissionable up to the 10th year of the policy.
Note: Only Dollar All Set have trail commissions, other policies do not have trail commissions.
Formula:
For non-SPUL products –Premium x Basic Commission Rate for the current policy year.
For SPUL and Top-ups – Premium x Basic Commission Rate.
- 18 -
7.2 Premium Paying Rider Commissions
First year commission on PPRs is enhanced by ten percentage points compared to the
commission rate on the base plan. The rider’s commission for the second year until the
end of the rider pay period will follow the commission for the base plan. .
Example:
Base plan is 5-pay Set for Life with first year commission rate of 30%
Attached PPR first year commission rate shall be 40%
A PPR can be added to a Set for Life base plan at the onset and can also be added to all
variants of existing Set for Life plans. There is no 7-Pay PPR variant at the onset but the
5-Pay variant can be attached to the 7–Pay Set for Life upon application. The said rider
can be attached to 7-Pay Set for Life after the base plans issuance as long as the rider’s
pay period is within the remaining pay period of the base plan.
7.2.1 New Business Commission on PPRs – Set for Life Base Plan
SafetyPro
Base
Policy
Year 5-Pay 7-Pay 10-Pay Reg-Pay
1 40% NA 50% 53%

2 10% NA 15% 15%
3 5% NA 5% 5%
4 0% NA 5% 5%
5 0% NA 5% 5%
6 0% NA 0% 0%
7 0% NA 0% 0%
8 0% NA 0% 0%
9 0% NA 0% 0%
10 0% NA 0% 0%
11+ 0% NA 0% 0%
- 19 -
LifePro
Base
Policy
1 40% NA 50% 53%

2 10% NA 15% 15%
3 5% NA 5% 5%
4 0% NA 5% 5%
5 0% NA 5% 5%
6 0% NA 0% 0%
7 0% NA 0% 0%
8 0% NA 0% 0%
9 0% NA 0% 0%
10 0% NA 0% 0%
11+ 0% NA 0% 0%
HealthPro
Base
Policy
1 40% NA 50% 53%

2 10% NA 15% 15%
3 5% NA 5% 5%
4 0% NA 5% 5%
5 0% NA 5% 5%
6 0% NA 0% 0%
7 0% NA 0% 0%
8 0% NA 0% 0%
9 0% NA 0% 0%
10 0% NA 0% 0%
11+ 0% NA 0% 0%
- 20 -
SurePro
Base
Policy
1 40% NA 50% NA
2 10% NA 15% NA
3 5% NA 5% NA
4 0% NA 5% NA
5 0% NA 5% NA
6 0% NA 0% NA
7 0% NA 0% NA
8 0% NA 0% NA
9 0% NA 0% NA
10 0% NA 0% NA
11+ 0% NA 0% NA
7.2.2 In Force Set for Life Base Plan
SafetyPro
Rider Policy 7-Pay
5-Pay 10-Pay Reg-Pay
Year
1 40% 45% 45% 45%
2 10% 10% 10% 10%
3 0% 0% 0% 0%
4 0% 0% 0% 0%
5 0% 0% 0% 0%
6 0% 0% 0% 0%
7 0% 0% 0% 0%
8 0% 0% 0% 0%
9 0% 0% 0% 0%
10 0% 0% 0% 0%
11+ 0% 0% 0% 0%
- 21 -
LifePro
Rider Policy 7-Pay
Year
1 40% 45% 50% 50%
2 10% 10% 10% 10%
3 0% 0% 0% 0%
4 0% 0% 0% 0%
5 0% 0% 0% 0%
6 0% 0% 0% 0%
7 0% 0% 0% 0%
8 0% 0% 0% 0%
9 0% 0% 0% 0%
10 0% 0% 0% 0%
11+ 0% 0% 0% 0%
HealthPro
Rider Policy 7-Pay
Year
1 40% 45% 45% 45%
2 10% 10% 10% 10%
3 5% 0% 0% 0%
4 0% 0% 0% 0%
5 0% 0% 0% 0%
6 0% 0% 0% 0%
7 0% 0% 0% 0%
8 0% 0% 0% 0%
9 0% 0% 0% 0%
10 0% 0% 0% 0%
11+ 0% 0% 0% 0%
- 22 -
SurePro
Rider Policy 7-Pay
Year
1 40% 45% 45% 45%
2 10% 10% 10% 10%
3 0% 0% 0% 0%
4 0% 0% 0% 0%
5 0% 0% 0% 0%
6 0% 0% 0% 0%
7 0% 0% 0% 0%
8 0% 0% 0% 0%
9 0% 0% 0% 0%
10 0% 0% 0% 0%
11+ 0% 0% 0% 0%
7.3 Individual Commissions, Case Count Credits, and Production Credits for KanLive,
KanMend, and KanGuard
Below are the individual commissions, Case Count credits, and Production credits for
Agency salesforce:
• Individual Commissions as percent of FYC

Every Kandüü policy sold by the Agency salesforce will be eligible for P250
commission.
• Case Count Credit

• For every three (3) policies sold on any Kandüü product will merit as
one (1) case count on protection products (3:1 ratio).
• Kanduu case count credit will be 5:1 ratio for Activity Booster Bonus
• 3:1 credit for incentives qualification
• Digital SFT and SFH is treated like a traditional 1 case count
Special Notes Regarding Digital Products

 Kanduu policies are excluded from Persistency calculations
 Digital is supposed to be STP it was agreed with management that we
allow cases submitted / approved/paid for until 11:59pm of the end of
the month. Special appeals for consideration if they are issued the
following day may appeal but will be on case to case basis.
- 23 -
7.4 Overrides
7.4.1 Overrides are a percentage of commissions earned from premiums

received by the Company.
7.4.2 All policy transactions happening Monday to Sunday of the previous
week (issuance, cancellations, etc.) will be recorded and paid out the
Friday of next week. (Activity Booster Bonus shall be paid by 3rd or 4th
Friday of the succeeding month. Quarterly Bonuses (QVB and QPB) are
paid on the 3rd or 4th Friday of the month following a calendar quarter.
FWP Recruiter
Override
First Year Second Year
Structure Regular Single Regular Single
Premium Premium Premium Premium
FWP 12.50% 10% N/A N/A
AFWO Override
Structure Regular Single Regular Single Remarks
FWP 12.50% 10% 10% N/A
No overrides on
AFWO personal
N/A N/A N/A N/A AFWO's personal
production
production
FWO Overrides
Structure Single Regular Single
Regular Premium
Premium Premium Premium
FWP 25.00% 20% 20% N/A
AFWO personal
25.00% 20% 20% N/A
production
FWO personal
25.00% 20% 20% N/A
production
FWP-AFWO 12.50% 10% 10% N/A
FWP-FWP 12.50% 10% 20% N/A
- 24 -
AFWM Overrides
Structure Regular Single Regular Single
FWP - direct 25% 20% 20% N/A
AFWO direct 25% 20% 20% N/A
AFWM personal
25% 20% 20% N/A
production
FWO personal
10% 7.50% 7.5% N/A
production
FWP - AFWO 12.50% 10% 10% N/A
FWP - FWP 12.50% 10% 20% N/A
FWP - FWP - AFWO 12.50% 10% 10% N/A
FWP - FWO 10% 7.50% 7.50% N/A

AFWO - FWO 10% 7.50% 7.50% N/A
FWP - AFWO -FWO 10% 7.50% 7.50% N/A
FWP -FWP -AFWO -
10% 7.50% 7.50% N/A
FWO
FWP - FWP - FWO 10% 7.50% 7.50% N/A
- 25 -
FWM Overrides
Structure Regular Single Regular
Single Premium
AFWO direct 25% 20% 20% N/A
FWP direct 25% 20% 20% N/A
FWM 25% 20% 20% N/A
AFWO - AFWM 20% 15% 15% N/A
FWP - AFWM 20% 15% 15% N/A
AFWM 20% 15% 15% N/A
FWP - AFWO - AFWM 20% 15% 15% N/A
FWP - FWP - AFWO -

20% 15% 15% N/A
AFWM
FWP - FWP - AFWM 20% 15% 15% N/A
AFWO - FWO 20% 15% 15% N/A
FWP - FWO 20% 15% 15% N/A
FWO 20% 15% 15% N/A
FWP - AFWO - FWO 20% 15% 15% N/A
FWP - FWP - AFWO -
20% 15% 15% N/A
FWO
FWP - FWP - FWO 20% 15% 15% N/A
FWP - AFWO 12.50% 10% 10% N/A
FWP - FWP - AFWO 12.50% 10% 10% N/A
FWP - FWP 12.50% 20% 20% N/A
AFWO - FWO - AFWM 10% 7.50% 7.50% N/A
FWP - FWO - AFWM 10% 7.50% 7.50% N/A
FWO - AFWM 10% 7.50% 7.50% N/A
FWP - AFWO - FWO -
10% 7.50% 7.50% N/A
AFWM
FWP - FWP - AFWO -
10% 7.50% 7.50% N/A
FWO - AFWM
FWP - FWP - FWO -
10% 7.50% 7.50% N/A
AFWM
FWD Overrides
Structure Regular Single Regular
Single Premium
AFWO 25% 20% 20% N/A
FWP direct 25% 20% 20% N/A
FWP personal production 25% 20% 20% N/A
FWP - AFWO 12.50% 10% 10% N/A
FWP - FWP 12.5% 10% 10% N/A
Other levels 10% 7.50% 7.50% N/A
- 26 -
7.4.3 Basic Commissions and Overrides are based on premiums that are
actually received by the Company.
7.4.4 In case of transfer from one leader to another (when permitted and
approved), overrides for the new Agency Leader shall be based only on
new policies issued after the transfer takes place.
7.5 Bonuses
7.5.1 QUARTERLY VOLUME BONUS (QVB)
This bonus is available based on personal production of FWPs and Leaders and is calculated
after completion of a calendar quarter as a percentage of FYC. Qualification for this bonus is
subject to APE thresholds and a minimum of 70% personal persistency.
QUARTERLY VOLUME BONUS
Bonus Rate Bonus Rate
Quarterly APE (70% - 84.99% Personal (85% and above Personal
Persistency) Persistency)
120,000 to 239,999.99 7.5% of FYC 12.5% of FYC
240,000 to 359,999.99 12.5% of FYC 20% of FYC
360,000 to 599,999.99 20% of FYC 30% of FYC
600,000 and above 30% of FYC 40% of FYC
Formula:
FYC (personal sales) x QVB Bonus Rate based on persistency and APE
criteria (personal). Please refer to APE definition.
7.5.2 QUARTERLY PERSISTENCY BONUS (QPB)
This bonus is given after completion of a calendar quarter starting on the second year of the
policies sold and calculated as a percentage of the FWP’s or the Leader’s SYC and is based on
personal 19th month persistency.
QUARTERLY PERSISTENCY BONUS

19th Month Persistency Bonus Rate
75% to 79.99% 10% of SYC
80% to 89.99% 20% of SYC
90% and above 30% of SYC
Formula:
SYC (personal sales) x QPB Bonus Rate based on persistency criteria (personal).
- 27 -
7.5.3 ACTIVITY BOOSTER BONUS (Leaders only)
The Activity Booster Bonus is a monthly bonus calculated as a percentage of the Agency Leader’s
FYO payable in that month. The Agency Leader shall be entitled to this bonus upon reaching the
required number of Active Agents within the month.
AGENT
LEVEL
AFWO N/A
Monthly Active Agents Bonus Rate (PR < 85%) Bonus Rate (PR >= 85%)
5-9 20% FYO 30% FYO
FWO
10 - 14 30% FYO 40% FYO
> 14 40% FYO 50% FYO
AFWM 5-9 20% FYO 30% FYO
(New) 10 - 14 30% FYO 40% FYO
> 14 40% FYO 50% FYO
20 - 29 20% FYO 30% FYO
FWM
30 - 49 30% FYO 40% FYO
> 49 40% FYO 50% FYO
50 - 69 20% FYO 30% FYO
FWD
70 - 99 30% FYO 40% FYO
> 99 40% FYO 50% FYO
Formula:
FYO x Activity Booster Bonus Rate
Notes:
• All bonuses shall be released every 3rd or 4th Friday of the succeeding month immediately succeeding the end of quarter
for quarterly bonuses or end of the month for activity booster bonus.
• Peace Plan shall not be considered in any persistency calculation.
- 28 -
7.6 Compensation Cycle & Schedule
The Compensation Cycle covers how the company processes & releases the agent’s
commissions and overrides. The agent’s compensations are processed based on the
transactions done in a particular policy. These transactions include the following:
• Policy Issuance
• Renewal Payments
• Reinstatement
• Policy Changes such as Increase in Premium/Sum Assured & Adhoc Top-up
**Pay-out schedules for the above transactions are determined by the date they are processed in the
company’s system & not on the actual payment date of the certain transaction.
Things to remember:
1. The Basic Commissions & Overrides are released to the Agency Force observing the cut-
offs below.
E.g. If a policy is issued on Monday the commissions for that policy will be paid out on the
following Friday & not on the same Friday of the week’s issuance.
2. The Basic Commissions and Overrides are based on the premiums that are due and are
actually received by the Company.
E.g. If a policy’s renewal payment was paid in advance of the policy’s due date, it will only be
consumed in the system as the policy falls due which will also be the start of the commission
processing. This transaction will also follow the cut-off on no.1
3. No overrides for FWP under Agent-get-Agent program if structure has an AFWO.
4. If without AFWO, FWP will get 50% of the override of his direct leader (e.g. For RP, 12.5%
to FWP and 12.5% to FWO).
- 29 -
8. Corporate Care Business
This section deals with compensation earned from selling certain classes of policy to
Corporations, Family Businesses and Small to Medium Enterprises (SMEs).
8.1 Sales Compensation

8.1.1 Basic Commission & Overrides
The table below shows the First Year Commissions and First Year Overrides for corporate
care business.
Corporate Care Compensation Customized Packaged GL Package GA

Basic Commission - % of Premium 12% 20% 25%
Override - % of Premium
• Financial Wealth Officer (FWO) 1.00% 2.00% 2.00%
• Financial Wealth Manager (FWM) 1.00% 1.50% 1.50%
• Financial Wealth Director (FWD) 1.00% 1.50% 1.50%
Note: Commission & ORC rates for Customized Proposals/Package are until December 2020
only.
Renewal Year Commissions and Renewal Year Overrides will be paid out each year for as
long as the account renews and the selling agent has an active Agency Contract.
Pay out of Basic Commissions and Overrides for Corporate Care business will follow the
same schedule and cut offs as Individual Business as follows: commissions and
overrides for business which were transacted and approved from Monday to Sunday
shall be paid out on the next Friday.
8.2 Sales Incentives & Bonuses – Corporate Care Business

8.2.1 Quarterly Volume Bonus (QVB)
Corporate Care business will have 25% QVB credit for APE and FYC. This will be based on
FWPs’ and Leaders’ personal production and will follow rules detailed in the Quarterly
Volume Bonus section.
Corporate Care APE x 25% = Credited QVB APE

Corporate Care FYC x 25% = Credited QVB FYC
Corporate Care business is excluded from all persistency computations.
8.2.2 Activity Booster Bonus (AB) – Corporate Care
An Agent selling a Corporate Care case will count as an Active Agent

towards a Leader’s Activity Booster as detailed in the Activity Booster
section. One total scheme counts as 1 (one) case, irrespective of the
number of members.
8.2.3 Credit for Trip Incentives, Contests and Promos
- 30 -
APE from Corporate Care business will have 25% credit for incentives,
recognition and rewards.
8.2.4 Contract Validation
100% of APE from Corporate Care business will be credited towards

contract validation for FWPs and Leaders.
8.2.5 Million Dollar Round Table
Corporate Care business will count towards qualification for MDRT as follows:-
 Commission/Fee Method – 100% of Corporate Care first year

commissions earned by the agent on the current year. Commissions
from premium increases in second and subsequent years are treated as
first year business and hence are considered at 100%. Note that only
commissions on the increase over the previous year or years premiums
will count for MDRT purposes.
 Premium Method – 10% of Corporate Care premiums received during

the qualifying calendar year.
- 31 -
9. Incentives & Competitions
FWD offers industry leading incentives, recognition and rewards for our best performing Planners
and Leaders including:
• Special recognition and incentives for Rookies including a fabulous overseas

incentive trip
• Recognition and valuable benefits for the very best through membership of Elite
Agency Circle
• Qualification for an invitation to our Elite Agency Awards Night – a highlight of the
Agency events calendar
• Mid-Year Overseas Incentive – two tiers of qualification for an exquisite overseas
destination experience based on the first half year’s production
• Summit Club Overseas Incentive – an amazing experience at a world class, long haul
destination for our top performers over the full year
• Agency Elite Hive – an extraordinary and most exclusive event bringing together the
best of the best from all the FWD countries’ Agency sales teams in a fabulous
destination
• MDRT – to qualify for membership of this international, independent association of
the world’s most successful life insurance professionals is to reach the pinnacle of
success in our industry. FWD offers very substantial rewards for achieving MDRT
including, for the very best, all costs of attending the MDRT Convention, including,
all registration fees, hotel, flights (business class for TOT qualifiers) and even pocket
money to spend
And there are many other recognition and incentive opportunities on offer to our best
people! For the complete contest requirements and details, please click the link below to
view the Incentives and Rewards 2019 Manual:
https://elearning.fwd.com.ph/mod/resource/view.php?id=1528
- 32 -
10.Training
Our Planners and Leaders are critical to achieving FWD’s vision of changing the way people feel
about insurance. FWD envisions an Elite Agency that differentiates itself in the market as the most
professional and with the most productive agents in the market. Financial Wealth Planners must be
well-equipped with the skills and the knowledge necessary to provide customers the right advice.
And it is vital that we provide training and development support to those Planners who aspire to
become Leaders as well as to our existing Leaders to ensure they can fulfil their full potential at
whatever Leader level they aspire to reach.
Our Training Curriculum is designed to help the Financial Wealth Planner succeed in whichever
career path he decides to undertake whether that be as a career Financial Wealth Planner focusing
on his own client portfolio or to develop into a successful Agency Leader.
Here is what follows provides a broad overview of the training support available to a Rookie
Planner or a rookie leader to help them succeed in this business.
10.1 Pre-licensing Training – New Planners may choose to undergo their training via
classroom with a Training Specialist or through our digital learning platform. For a
new planner, the first priority is to get him ready to successfully tackle the
Traditional and Variable Life Licensing exams.
10.2 CONNECT is the on-boarding training for rookies. At the end of the course, the
rookie is expected to have a good understanding of the company, its products, the
underwriting process and the digital tools that help him sell to and service his
customers.
10.3 JOINT FIELD WORK on boards the rookie into field sales together with his
Leader. He is joined by his Leader in his first few sales calls. The objective is to get
the rookie to experience actual insurance selling with the mentoring of his more
experienced Leader.
10.4 CLICK to SELL has the objective of giving the recruit a firm grasp of the different
digital tools that enable him to do his business. Here the recruit gets to formally
navigate E-APP, IRIS Web and ALEX.
10.5 CIRCUIT has the objective of sharpening the basic selling skills to succeed in the
business. CIRCUIT builds the rookie’s confidence in prospecting, setting
appointments, obtaining pertinent information, presenting solutions to clients and
closing the sale. This also provides an avenue for the rookie to invite their prospects
to a culminating financial wellness seminar, Get Ready to Live.
10.6 READY, SET, PROTECT focuses on our Health products. In this program,
Planners are groomed to be Health Sellers by taking a deep-dive into the whole
process of selling Health Plans: from Value Proposition to Underwriting to Claims.
10.7 BASICS of ESTATE PLANNING takes a look at our updated Estate Taxation
guidelines as well as how our products can address our clients’ needs for wealth
- 33 -
creation, preservation, and distribution of that wealth. This is aimed at Planners
who are in their 6th to 12th month with the company.
10.8 ELITE BUILDER PROGRAM is a series of training programs created for more
productive planners who are on their way to becoming part of the MDRT Club. This
suite of programs seeks to expand the skills and knowledge of our planners by
introducing niche marketing and other selling strategies.
10.9 MDRT CLUB seeks to increase the number of Planners who can successfully
achieve MDRT by grooming aspirants through a series of advanced training
programs that are designed to increase productivity and expertise in Financial
Planning.
10.10 New Leader Training – Planners who aspire to lead take on a different track to
help them succeed.
10.11 SHIFTING GEARS – is a three day program for aspiring leaders. In the first day,
Shifting Gears aims to assist the Planner process his aspirations by giving him a ‘free
look’ at what it takes to become a leader. On the second and third day, those who
decide to pursue their aspirations are given a fast track on recruitment, on-
boarding and activation of new recruits which are the most essential tasks of a
Leader. Those who decide that being a Leader is not for them at that point but
prefer to focus on the Planner Career leave the program after the first day. They
can always try again at a later stage when they might be better prepared for the
challenges that they will face if they do decide to follow the Leader career path.
10.12 GET READY TO CHANGE – assists leaders who have been in the industry for
some time and are moving their business to join FWD. The program aims to give
them a fast track of FWD business processes and procedures as well as a host of
other important things they will need to learn and adapt to.
10.12.1 GET READY TO LEAD - equips leaders who are moving up to FWO level
and beyond with a deeper dive into the fundamentals of agency
management with the focus on recruitment, onboarding, activation and
retention. It aims to provide the Leader being promoted to full
Officer/Manager level a better grasp of the business drivers
(Manpower, Active Agents, Case Productivity and Case Size) of Agency
Business.
More advanced training for Leaders are focused on how to control and move forward
these business drivers. You can get a full view of the Training Road Map in ALEX.
- 34 -
11.Licensing
11.1 Agent Registration, Licensing and Coding Process
• All Agent applications must be submitted to Distribution Recruitment for initial screening
to ensure all necessary requirements are complied with before forwarding to Distribution
Licensing. This screening will include ensuring the applicant is not one of the classes of
persons prohibited from being coded with us per Memorandum Circular No. 3-93 (e.g.
existing agents of another company, employees of an insurance brokerage or adjustment
company etc.)
• Distribution Licensing will code the Agent-applicant within three (3) working days from
receipt of the application with complete requirements and where there are no
restrictions on coding.
• Once the Agent-applicant is coded, he/she shall receive by email an Agent Welcome
Letter and Agent Code and Iris Web access will be sent shortly after. In the event the new
Agent has not received the welcome letter, he/she should email Distribution Licensing at
distributionsupport.ph@fwd.com.
11.1.1 LICENSING REQUIREMENTS
We adhere to the Insurance Commission’s demand that we submit all

proper requirements of our Recruits/Agency Leaders for their ELS
(Enhanced Licensing System) Profile.
• Requirements for Licensing and Coding:

 Two fully completed and notarized Application for Insurance Agent’s
License for Traditional (OL) and Variable (VUL)
 Fully completed FWD Personal Information Sheet
 Fully completed Request for ID Form
 Two (2) 2x2 and Two (2) 1x1 identical pictures (white background and
corporate attire)
 Validated deposit slip (BPI) as proof of payment for the Licensing Fee on
OL and VUL (PhP3,090.00)
 Photocopy of Passed IC Exam Result for OL and VUL or IIAP Passed Exam
Result for OL
 Photocopy of Tax Identification Number (TIN) Card or any other proof
 Photocopy of SSS ID Number or any other proof (Unified ID is not
acceptable)
 Two (2) copies of Signed Agent’s Agreement and Agency Leader’s
Agreement, if applicable
 Completed Connect Training and Non-Medical Limit Confirmation
 Clearance from previous company or proof that the applicant was not
coded
• Additional Requirements as applicable:
 For Naturalized Citizen – Certificate of naturalization
 For Foreigners – Alien Certificate of Registration (ACR) and Immigration
Certification of Residence (ICR)
 For Government Employee – Written permission from the Head of
Government Agency
 Certificate of Re-Training applicable to agents from other insurance and
Agents applying again as FWD life insurance agent.
- 35 -
• Requirements to be submitted within four (4) months from issuance of Agent ID:
 BIR Certificate of Registration (VAT/non-VAT)
 Authority to Print Official Receipt
11.2 INSURANCE COMMISSION LICENSING EXAMINATIONS
A life insurance agent must be licensed with the insurance company he/she
represents in order to present/sell the life insurance products that the company
offers. In order to be licensed, the agent must take the necessary licensing
examinations as a first step to becoming a full-fledged agent of the company.
11.2.1 SPECIAL INSURANCE COMMISSION EXAMS

Special Insurance Commission Exams exclusively for FWD Recruits may be
requested from Agency Recruitment for certain areas. Note that these exams
are granted by Insurance Commission subject to our compliance with their time
frame notice requirement of at least ten (10) days, submission of the list of
examinees, advance payment of the examination fees and confirmation of
available IC proctors.
11.2.2 WALK-IN INSURANCE COMISSION EXAM (Insurance Commission

Manila and Davao)
Per Insurance Commission’s directive, all recruits should be enrolled at
least fifteen (15) days prior to the examination date, through the
Agents Computerized Examination (ACE) by Agency Recruitment for the
regular exams in Insurance Commission Manila and Insurance
Commission Davao. The exams are offered in both offices from Tuesday
to Friday, with time schedules from 8:30AM to 11:00AM.
11.2.3 INSURANCE COMMISSION CONDUCTED EXAM (LIFE & VL LICENSE)
• Basic Requirements:
 Duly accomplished application form

 Two pieces ID picture(1x1 size)
 Original and one photocopy of the Certificate of Training from FWD
 Original and one photocopy of Barangay/NBI Clearance
 Examination fee (Ph1,010.00/exam in IC Head Office, District Offices, and other
places)
 Only black ball pen shall be allowed during the examination.
 Failure to take the examination on the scheduled date shall mean forfeiture of
the examination fee paid.
• Examination at the Insurance Commission Head Office, Manila
 Examinee Registration. Companies notified of successful ACE account

registration shall be eligible, through its authorized representative, to submit
applications for Qualifying Insurance Agents’ Examinations administered
through the ACE using the Insurance Commission issued information.
 The company representative may choose to assign their applicants in any of the
following schedule from Tuesday to Friday: 8:30AM (1st Batch), 9:45AM (2nd
Batch) and 11:00AM (3rd Batch)
- 36 -
 Company representative must register application for scheduled examination
no later than five (5) working days prior to the examination.
 Application/s for examination must be paid within two (2) days from
registration.
 The Agent-applicant shall present the transmittal that her name is included in
the list of examinees and corresponding Official Receipt (OR) to the designated
personnel at the Licensing Division.
 In the event of a failed exam attempt, unsuccessful examinees shall have two
(2) options for re-take: Same-day retake in the afternoon, as scheduled by
Insurance Commission c/o Proctor or Re-take on a different schedule,
registration of which shall be coursed through the authorized company
representative.
 Re-take examination shall be subject to slot availability on a first come first
serve basis, and payment of examination fee in the amount of Php 1,010.
• Examination at the Insurance Commission Cebu and Davao District Offices
 The examination shall be conducted every Wednesday, at 8:30AM – 9:30AM

(1st Batch), and 10:00AM – 11:00AM (2nd Batch).
 Above basic requirements, except for the examination fee, shall be submitted
to the concerned District Office at least ten (10) days before the scheduled
examination.
 The examination fees shall be paid at the Cashier’s Office, Insurance
Commission Head Office, Manila and must be deposited to FWD at least 15
days before the date of scheduled exam.
 The transmittal letter stating the names of the examinees and the
corresponding ORs issued shall be presented to the designated personnel of the
Insurance Commission District Office prior to the conduct of the examination.
• Examination at other designated places
 The examinations shall be coordinated with the insurers’ or Agents’

associations in their respective localities.
 The minimum required number of examinees shall be 40 for the Regular
Insurance Agent’s Examination and 25 for the Special Insurance Agent’s
Examination.
 The examination fees shall be paid in advance at the Cashier’s Office, Insurance
Commission Head Office, Manila.
 The insurers’ or Agents’ associations shall submit to the Licensing Division of
Insurance Commission the list of examinees and the corresponding OR Number
issued for the payment of the examination fees at least five (5) working days
before the scheduled date of examination. Names not submitted in advance
shall not be allowed to take the examination.
 The examination fee must be paid by the Agent-applicant at least 15 days
before the scheduled examination.
 Absence of notice from the concerned insurance association or insurance
company shall mean that there are no examinees.
 Schedule of Regular Insurance Agent’s Examination shall be provided by
Insurance Commission.
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11.3 Insurance Institute of Asia and the Pacific (IIAP) CONDUCTED EXAM
(LIFE LICENSE ONLY)
• Exam Requirements:
 Fully completed 0930 application form to take the exam
 Photocopy of any of the following identification:

 TIN
 SSS or GSIS
 Passport
 Driver’s License
 Senior Citizen ID
 Community Tax Certificate for Students
 Certificate of Good Moral Character and Training, duly signed by the IIAP-
accredited trainer of FWD (Certificate of Training from FWD)
 One piece of ID picture (1x1 size) For Special and Walk-in exams, applicant’s
name must be printed on the back of the photo.
 Examination fee (PhP700.00/exam if to be held in Makati, PhP1,000.00/exam
for provincial exam)
• Examination at the IIAP Office
 The examination is conducted every Friday and Saturday from 9:00AM to

11:00AM and from Monday to Thursday at 5:30PM to 7:00PM.
 The Agent-applicant shall pay the examination fee at the IIAP’s Cashier’s Office.
 No Agent-applicant shall be allowed to take the same examination within the
same day (retake).
11.4 CLEARANCE FROM PREVIOUS LIFE INSURANCE COMPANY
• In lieu of the qualifying exam, an applicant who was previously licensed with another
life insurance company must secure a clearance from the previous life insurance
company he/she represented.
• Distribution Licensing may also secure the clearance on behalf of the applicant by
sending a request letter to the other life insurance company - it is a requirement to
answer the request within 30 working days from receipt of the letter. Failure to
respond within thirty working days would be construed as clearance of the agent
from any material or financial accountability and will be endorsed to IC for licensing.
• If agent found in the IC Negative List, request for Clearance will not push through and
Recruitment team will immediately inform the Leader and SMTs;
• All agents with accountabilities, MUST manage to process and coordinate with their
Previous Company for the release of their clearances and to immediately submit to
Licensing for request of license lifting/cancellation.
- 38 -
11.5 PROFESSIONAL TAX RECEIPT (PTR)
PTRs are renewed every January of each year.
11.6 ON-BOARDING TOOLS
These are the tools and documentary items given by Distribution Support to
newly coded agents.
Department
Tools Turn-Around-Time
Accountable
ID Every Wednesday for agents coded Monday to Friday
BIR Certificate (COR and
Every Wednesday for agents coded Monday to Friday
ATP requirement)
Bank Account Opening:
BPI Endorsement - Every Wednesday for agents coded Monday to Friday
SBC Green Pin - Every Monday immediately following the Coding week
Sales Tablet Handling DS Licensing
Every Wednesday for agents coded Monday to Friday
Policy
Agency Agreements 10 Working Days from Coding Date
If coding date is between 1st-15th of current month: within 3
weeks from the 16th of the coding month
Calling Card
If coding date is between 16th to end of current month:
within 3 weeks from the 1st WD of the following month
• RELEASE OF SALES TABLET
A Tablet is the primary tool of an FWD agent in promoting the value proposition that FWD
offers. This tablet contains the electronic application (eApp) as well as other essential apps
that the agent needs to use in selling life insurance.
A tablet is provided to the planner or leader within 3 Working Days upon validation and
from receipt of signed AF. Please refer to the tablet handling policy section.
11.7 Agency Movements
Agency movements may consist of promotion of a Planner or leader to a higher

level, demotion of a Leader to a lower level, transfer from one Branch or Unit to
another and delisting from the roster (termination).
For a movement to take effect, an Agency Movement Form (AMF) must be

completed by the Planner / Agency Leader recommending it. This movement
form must be endorsed by the immediate up line of the individual and the next
higher up line as well as being approved by the ADM and/or the Sales Director.
The completed AMF should be submitted to the Licensing Department for the
movement to be processed.
- 39 -
11.7.1 Internal Poaching
In the Agency Contract – it is stated in the Limitations of Agent’s

Authority: Inducement and Anti-Poaching:
11.7.1.1 Poaching of AGENTs – The AGENT shall not induce any

other agent, agency leader, employee or representative of
FWD to leave its current service. The AGENT should not
commit any act that is prejudicial to FWD. This also applies
within one (1) full year from the separation of the AGENT
from FWD.
11.7.1.2 Poaching of CLIENTs and Business In-Process – The AGENT
should respect the business and CLIENTs of other AGENTS
and other distribution channels.
11.7.1.3 As a principle, movement from one team to another is not
generally permitted. In exceptional cases and where there
is mutual consent by all concerned parties for a transfer,
and the transfer is approved by the company (which need
the sign off of Senior Management) any spin off payments
or bonus that may be triggered must be paid by the
receiving Leader for the full period any such payments may
be payable (usually 4 years). If any of the affected parties
or Senior Management, at its absolute discretion, do not
give consent to the transfer or if the receiving Leader is not
willing to cover fully any spin off payments, the transfer
cannot proceed.
11.7.1.4 Agents who leave the Company must wait for six months in
order to be reinstated to another team without the consent
of his/her previous leader.
11.7.1.5 For internal agency conflicts or disputes, the general
principle is that the Company shall not intervene or
become involved in any resolution and the parties must try
and find a resolution between themselves.
- 40 -
12.Recruitment
Recruitment is the lifeblood of any life insurance company and the Agency Recruitment
Team provides quality recruitment support at every stage from Business Opportunity
Presentation to completion of licensing requirements for coding to help Leaders with their
recruitment activities.
12.1 eConnect
eConnect is the online version of FWD’s ‘Connect’ on-boarding training program. It

provides vital information to equip new Financial Wealth Planners with a basic
understanding of who FWD is and what we offer as well as other important
information. Topics include:
• FWD Profile and the Role of a Financial Wealth Planner
• Customer Propositions
• Digital Tools
• Underwriting
eConnect may be accessed through ALEX, our eLearning platform and ensures that:
• Planners learn at their own pace;
• Planners have access to information that reinforces knowledge especially in
the areas of products and underwriting.
• Planners can be coded faster as they do not have to wait for the Academy’s
schedule to conduct the classroom version of Connect
• Recruitment in expansion areas is supported.
12.2 ALEX
ALEX is FWD’s Learning Management System where Planners can access their
online learning courses for onboarding and ongoing continuous development.
The platform enables distributors to download learning materials to help them
become more effective when conducting their business activities. Some
examples include product packs, goal calculator, recruitment presentation deck
and there are many other tools covering a variety of needs.
ALEX is also the host platform for the Smart Recruitment Tool (SRT). This
powerful application helps our distributors recruit by leveraging on social media
and other messaging tools and enables recruiters to upload securely and
paperlessly their recruit’s requirements online.
*ALEX can be used on any device as long as there is a data connection
12.3 SMART RECRUITMENT TOOL (SRT)
The Smart Recruitment Tool (SRT) is a one stop application to make the
processes involved in recruitment more efficient and effective for both recruits
and the recruiting leader.
- 41 -
Online recruitment reaches a larger pool of potential recruits and helps
facilitate the selection process. Leaders can also use SRT to manage recruitment
activities and monitor the conversion of potential recruits from prospecting
right through to licensing.
Key features and advantages include:
• Provides recruiters access to a larger pool of potential recruits via

digital advertising links;
• Saves resources in sourcing, engaging, and converting prospects to
planners;
• Shortens the coding process so that newly coded planners can be
activated faster;
• Saves recruiters’ time
• Tracks the recruitment journey through the SRT dashboard.
To access SRT:
• Open ALEX on your preferred browser - https://elearning.fwd.com.ph/
• Enter your username and password
• Click RECRUIT in the main menu located at the top of the page
To view and share the SRT Form:

• Click the SRT Form tab
Share your form copying and pasting the URL to any messaging
or social media app or use the share panel located at the left
side of the screen
To register a recruit:
• Complete the form with the details of your recruit in the SRT tab
(make sure that you provide an active email address)
• Click Save to finish the enrolment
Both recruit and leader will receive an email notification.
To enroll a recruit to eConnect or Classroom training:

• After you have registered a recruit, click Applications in the SRT page
• Choose your desired recruit and tick the checkbox located on the
leftmost part of the row
(You can tick multiple checkboxes if you wish to enroll more than one
recruit)
• Click the eConnect button to enroll the recruit/s to eConnect or click
the Classroom button to enroll recruit/s to face to face training.
o For classroom training, you will be redirected to the training schedule page.
o Choose the desired training schedule for your recruit
o Click Enroll user to finalize the enrolment
- 42 -
Recruits will receive a course enrolment email containing
instructions on how to access the course and an ALEX account
email containing the instructions to activate his/her account
Note: Recruits enrolled in Classroom training are also given access to

eConnect in case they miss a day of training or want to brush up on any
specific areas.
To upload licensing requirements:

• In the SRT page, click Upload Requirements
• Click or search the name of your recruit (recruit will only appear in the
list once they log in at least once to ALEX)
• In the licensing requirement page, click on a requirement that you wish
to upload.
• Click the Upload button.
• Click Choose File and look for the file you wish to upload
• Click Upload this file
• Click Save changes to finish the upload
To view a recruit’s progress:

• In the SRT page, click Dashboard
• Search for the recruit you wish to view
If you have questions regarding the Smart Recruitment Tool or need further
information, email distributionsupport.ph@fwd.com or contact 88888393 local
7000
- 43 -
13.Policies & Procedures
13.1 Agency Provident Fund
All agents who have been with the Company for a minimum of six months are eligible to
enroll in the provident fund.
All you have to do is fill out the enrolment form and submit it to the Licensing Section of
our Distribution Support team, located at the 9th Floor, W Fifth Avenue Building.
Please note that, upon enrolment, the Company will deduct 5% from your commissions
and/or overrides on a weekly basis. Deductions will commence the week after your
enrolment. See the enrolment form below.
Should you have questions, you may email us at distributionsupport.ph@fwd.com but

see below for FAQs.
13.1.1 Frequently Asked Questions (FAQs)
13.1.1.1 Who is eligible to enroll for the Agency Provident Fund?

Active agents who have been with FWD for at least six (6)
months.
13.1.1.2 When will I be entitled to the Agency Provident Fund?

The provident fund’s main objective is to provide funding to
an agent when he/she retires or is separated from the
Company. This is a voluntary benefit which is why an agent
needs to enroll to become a member. The fund is managed
by BPI Asset Management and the provident fund is
invested in the equity, bond and money market funds. If an
agent has been enrolled in the provident fund for more
than five years, the Company contribution kicks-in based on
the tenure of the agent. Please refer to the vesting table
below for details:
- 44 -
Provident Fund Vesting Period
No. of Years of Active

Provident Fund Termination Value
Membership
0 to 5th year Fund value attributable to the agent’s contribution.
(from month 0 up to 60)
5th year Fund value attributable to the agent’s contribution plus 50% of
(from month 61 up to 72) the Company’s contribution.
(from month 97 up to the Company’s contribution.
108)
(from month 109 up to the Company’s contribution.
120)
10th year onwards (month Fund value attributable to the agent’s contribution plus 100% of
121 onwards) the Company’s contribution.
13.1.1.3 How do I submit the Enrolment Form?

The completed and signed enrolment forms (hard copy or
scanned) should be submitted to Distribution Support. If
there is missing or incorrect information in the enrolment
form, Distribution Support will return the form to the
agent. The agent needs to send back the enrolment form
before the cut off period.
13.1.1.4 How do I know my enrolment has been successful?

Distribution Support will send an email to the agents and
their ADMs to confirm their enrolment to the Provident
fund. The enrolled agents will also receive their account
details for the Provident Fund Online portal.
13.1.1.5 When will my first contribution be deducted?

The first contribution deduction will happen on the week
following the agent’s enrolment.
13.1.1.6 How will I know the amount of the contribution deducted

from my commissions?
The contribution deduction will appear in the agent’s SOA.
13.1.1.7 How will I know the balance of my contributions and the

earnings?
The agents can view the fund value attributable to their
contributions on the online portal:
https://fwdagent.ffmiravite.com
- 45 -
Please note though that the balances on the portal is
always a month behind and not real-time.
13.1.1.8 If my Provident Fund Online Portal account gets locked

out, who do I contact to get my password reset?
Please send an email to fwdagent@ffmiravite.com.
13.1.1.9 Can I change the percentage of my contribution?

Right now, the contribution rate is fixed at 5% for all agents
but there’s a plan for the future where we hope to allow a
higher contribution percentage.
13.1.1.10 What is the frequency of the contribution deduction?

Contributions are deducted on a weekly basis.
13.1.1.11 What will happen if I don’t have commissions for the

week?
If the agent doesn’t have commissions for the week or after
tax and liability deductions the agent’s commissions net to
zero, then there will be no contribution for that week. The
system will only withhold contributions when the balance
of the agent’s commissions after tax and liability is greater
than zero.
13.1.1.12 Can I withdraw from the fund?

Fund withdrawal is not allowed until separation of the
agent.
13.1.1.13 What is my benefit from the Agency Provident Fund?

The enrolled agents are entitled to the total of the fund
value attributable to the agent’s contribution plus a
percentage of the Company contribution if they had been
with FWD for more than five (5) years.
13.1.1.14 How is the 5-year vesting period counted? Does it only

includes the weeks/months that I have commission
earnings or is it counted from the time I got coded until
my resignation/termination including the weeks/months
when I have no commissions earnings?
The 5-year vesting period will start to count from the
agent’s enrollment date to the provident fund until
termination/resignation. The weeks/months when the
agent doesn’t have commissions are still counted as long as
the agent has an ‘Active’ status in the system.
13.1.1.15 If I resign or my contract is terminated, how soon can I get

my money?
The agent’s Provident Fund benefit will be released
together with his/her final pay with FWD. Please note that
if the agent’s final pay is not sufficient to cover any existing
- 46 -
liabilities with the company, the remaining liabilities will be
deducted from the proceeds of his/her Provident Fund.
13.1.1.16 If I resign or my contract is terminated before my 5th year,

how much will I receive?
The agent will only be entitled to the fund value
attributable to the agent’s contribution reflected on the
last benefit statement released prior to the agent’s
resignation/termination.
If the agent’s last pay is not sufficient to cover any existing

liabilities, any remaining liability will be deducted from
his/her provident fund benefit.
E.g., Agent A has been a member of the Provident Fund for

20 months. He resigned February 8, 2019. His last benefit
statement for the 4th quarter of 2018 (October 2018 -
December 2018) was released to him February 1, 2019 and
it shows a balance of Php 400,000 total contributions and
Php 60,000 fund value earnings.
From January 2019 until the time of resignation,

contributions amounting to Php 30,000 have been
made. How much benefit will Agent A receive?
Answer:
Contribution balance as per last quarter statement Php 400,000.00
Earnings shown in the last quarter’s statement Php 60,000.00
Total of contribution made for the current quarter until resignation - Php 30,000.00
Total benefit payable to the agent Php 490,000.00
Please note that if Agent A’s last pay is not sufficient to

cover any existing liabilities with FWD, the remaining
liabilities will be deducted from the Php 490,000.00 that
he/she will receive from his provident fund.
13.1.1.17 What will happen to my contributions if I transitioned

from an agent to an employee of FWD?
Agency Provident Fund is exclusive to agents. If an agent
who is enrolled to the fund becomes an employee of FWD,
the agent is no longer eligible to participate in the
Provident Fund. The fund value attributable to the agent’s
contribution plus the percentage of the Company
contribution, based on his/her tenure with the company,
will be released to the agent.
13.1.1.18 In the event of death, to whom will the proceeds of my

Provident Fund be paid?
In the event of death of a member agent, his/her
designated beneficiary will be entitled to the fund value
attributable to the agent’s contribution plus a percentage
- 47 -
of the company’s contribution based on the agent’s tenure
with the Company.
If there is no designated beneficiary, it will be conclusively

presumed that the agent had appointed as his/her beneficiary
the person/persons in the first of the following classes then
surviving:
• Legitimate spouse;
• Children;
• Parents;
• Brothers and sisters of the full blood; and
• Member’s estate
13.1.1.19 If I leave FWD then later on come back, can I re-enroll to

the Agency Provident Fund?
An agent member who leaves FWD then later on comes
back can re-enroll upon the approval of the Provident Fund
Committee and fulfilment of the eligibility criteria.
However, the agent’s previous years of active membership
will be reset to year zero.
13.1.1.20 Can I combine my fund assets from another

retirement/provident fund with the Agency Provident
fund?
No
13.1.1.21 If I have questions on my benefit statement, who do I

contact?
All questions and concerns relating to Agency Provident
Fund should be emailed to DISTRIBUTION SUPPORT- PHL
(distributionsupport.ph@fwd.com).
- 48 -
FWD LIFE INSURANCE CORPORATION
ENROLMENT FORM FOR AGENCY PROVIDENT FUND
I hereby apply and voluntarily participate in the Agency Provident Fund of FWD Life Insurance Corporation
(“FWD”) effective ________________ and agree to be bound by its rules and regulations including but
not limited to the Fund Rules and Regulations of the FWD Life Insurance Corporation Agency Provident
Fund (“Fund Rules”), as well as by any revisions, amendments and modifications thereto made from time
to time.
I realize that participation in the Agency Provident Fund is voluntary and that I cannot withdraw my
contributions and/or investment returns thereon until my separation from FWD.
As per the Fund Rules, I am committing to contribute 5% of my weekly commissions and overrides after tax
and liability deductions but excluding bonuses and amounts earned through FWD contests/events, and
other similar figures. I understand that my entitlement to the benefit is dependent on my contributions
and years of Active Membership with the Agency. The amount that I will be entitled to upon my separation,
voluntary or involuntary, from the Company will based on Article IV (Benefits) of the Fund Rules.
I hereby authorize FWD to deduct 5% of my weekly commissions and overrides after tax and liability
deductions as my contribution to the Agency Provident Fund.
I understand that I’m not allowed to change my Provident Fund contribution rate unless the change is
duly approved by the Company and the Provident Fund Committee.
Lastly, I acknowledge that FWD reserves its right to change, modify, suspend, continue or terminate the
Agency Provident Fund upon prior written notice to its agent/s.
Agent Name:
Agent ID:
Agent Signature:
Date:
- 49 -
13.2 Sales Tablet Handling Policy (effective 1 January 2020)
The Sales Tablet (“Tablet”) is the tool which agents will use in selling FWD insurance
products to the public.
This Sales Tablet Handling policy governs the rules and guidelines in the issuance of
Tablets to Planners and Leaders including validation standards for the retention,
replacement and proper handling of the Tablets.
13.2.1 Tablet Issuance for Planners

13.2.1.1 Temporary Assignment for Planners
FWD shall release the Tablet to newly-
appointed Planners on a temporary basis, provided that the
following conditions are complied with:
 The Planner has completed Circuit Training;
 ADM and Trainer must certify that planner has attended
Click to Sell and is competent to use the Sales Tablet;
 At least 3 cases issued under the Planner with a
minimum Annualized Premium Equivalent (APE) of
Php100,000 within the first 90 days of the planner; and
 All 3 issued cases should have gone through the AI2
13.2.1.2 If planner does not meet the said production requirements
in the first 90 days, planner still has 180 days to meet the
following production requirements:
 The Planner has completed the Circuit Training;
 ADM and Trainer must certify that planner has
attended Click to Sell and is competent to use the Sales
Tablet;
 At least 6 cases issued under the Planner with a
minimum Annualized Premium Equivalent (APE) of
Php180,000 within the first 180 days of the planner;
and
 All 6 issued cases should have gone through the AI2.
13.2.1.3 If planner has not met the requirements in the first 180
days:
 Planner may purchase the tablet; or
 Planner should achieve the Silver Level APE of 1.8M to
be assigned a tablet
13.2.1.4 If a planner achieves a minimum APE of 450,000 in his/her
first 90 days, the planner will be given permanent
ownership over the tablet that will be issued to him/her.
13.2.2 Tablet Issuance for Agency Leaders

13.2.2.1 Temporary Assignment for Agency Leaders
Leaders shall automatically be assigned one Tablet, on a
temporary basis, upon completion of the CONNECT Training and
appointment / coding as Leader.
 The Leader shall be given an additional Tablet if his

direct manpower (Planners) reaches five (5).
- 50 -
 If the leader adds an additional 5 direct planners under
his/her unit, he/she will be given an additional 1 tablet
to be used as a roving tablet for his/her direct planners.
 Only a maximum of 2 roving tablets can be released to

the leader.
13.2.2.2 Re-classification of Leader to Planner Status

If the Leader is reclassified as a Planner, the following rules shall apply:
 He will retain the tablet that was given to him/her.

 If the Planner was assigned additional roving tablets when
he/she was still a Leader, the Planner must surrender all
roving tablets to the Distribution Support team (Licensing
Unit) within thirty days from reclassification to Planner.
 If the Tablet/s has not been returned within thirty days

from the reclassification of the Leader, the cost of the
Tablet will be automatically deducted from the Planner’s
weekly pay out.
13.2.3 Issuance or Re-issuance of Tablet

Upon issuance or re-issuance of the Tablet, the following shall be observed:
 The Planner or Leader shall be required to submit a duly

signed Acknowledgement Form (attached as Annex “A”),
to Distribution Support for processing. The
Acknowledgment Form should be signed by the Planners,
direct Leader or the respective up line Leader if the Direct
Leader is unavailable. The Tablet will not be released until
the Acknowledgement Form has been received by
Distribution Support.
 The Tablet shall not be released to the Planner or Leader
until the Acknowledgement Form has been duly received
by Distribution Support.
 In the event that the Tablet has been erroneously released
without an Acknowledgement Form, the Leader shall
retrieve the Tablet from the Planner and shall surrender
the same to Distribution Support (Licensing Unit) within
five (5) working days.
 If the Leader fails to retrieve the Tablet from his Planner or
down line Leader within sixty (60) days, the cost of the
Tablet shall be deducted from the compensation,
commission or overrides of the of the Planner or Leader
who was issued the Tablet.
13.2.4 Proper Use of Tablets and Data Protection Responsibilities
13.2.4.1 General Guidelines

All Tablets issued to Planners and Leaders remain the property of FWD.
Once a tablet is issued, Planners and Leaders shall:
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 Take good care of the Tablet and ensure it is kept in good
condition. Putting stickers, writing or other markings or and
any form of misuse of the Tablet is strictly prohibited;
 Be liable for any damage that occurred while the Tablet is
under his possession and care and shall be held accountable
for any cost of repairs necessary; and
 Return the Tablet to FWD upon demand.
13.2.4.2 Agent’s Responsibilities

Agents issued with tablets must comply with the following:-
 Maintain Data Privacy and Confidentiality of any FWD
information stored on the device. This includes customer
information, company reports, company emails and other
information obtained in the course of performing the function as
Planner or Leader.
 FWD information stored in the Tablets should not be disclosed
to any other parties unless there is a business need to do so and
appropriate approval obtained from FWD. Similarly, transfer of
FWD information from Tablets to personal computers or other
external storage is prohibited without obtaining approval from
FWD.
 FWD information stored on the device, other than those saved
in FWD applications (e.g. eApp), shall be immediately deleted if
there is no business need to retain such information.
 Applications that are not authorized to be used to conduct FWD
business shall not be installed on the FWD issued tablets without
documented approval from FWD and with appropriate
justification.
 Enable password security on the tablets. Passwords must be
changed immediately if they may have become known to others.
Change passwords at least every 60 days or when required to do
so.
 Report any suspicious activities that may compromise sensitive
information to your direct leader and/or to the Distribution
Support Team.
13.2.4.3 Leader’s Responsibilities

 Ensure that all Planners under direct responsibility are aware of
and comply with the tablet handling policy.
 Perform periodic inspection of company issued Tablets
assigned to their direct reports to ensure compliance with the
policy. Misuse, or failure to comply may result in disciplinary
action, including, where appropriate, termination and legal
recourse for any and all liabilities, claims, damages, costs and
expenses (including all legal costs and disbursements on an
indemnity basis) arising out of any breach.
13.2.5 IPads and Android Tablets that belong to the Agent

 An Agent may use his/her own tablet (iPad or Android).
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 The eApp for both the Android and the iOS platforms are readily
available in the IRIS Web of the Agent.
 Although the iPad / Android device belongs to the Agent – the Agent is
not exempted from the data protection responsibilities mentioned
above. Refer to Proper Use of Tablets and Data Protection
Responsibilities.
 FWD shall not be liable for any loss of data / information or any
technical problems affecting hardware or software that the device may
experience in uploading the eApp to the personal device of the Agent.
13.2.6 Tablet Re-Fleeting Guidelines

Please find below parameters for tablet replacement:
Agent Category APE Requirement

Planner 1.8 Million APE
Officer / Assoc. Officer 8.5 Million APE
Manager / Assoc. Officer 34 Million APE
Director 100 Million APE
Process
 Planner / leader must be able to meet the above-mentioned APE

requirement based on new businesses issued in the current year.
 An agent can only qualify in his/her agent category.
 An agent can have his tablet replaced anytime for as long as he has
already met the said APE requirement in his/her category.
 Planner / leader must accomplish the tablet handling form with
endorsement from agency leader and SMT and submits this to
Distribution Support (DS).
 DS validates the production of said agent.
13.2.7 Lost, Damaged or Unreturned Tablets
The Planner shall pay for the cost of the Tablet in case of loss, damage or if
unreturned to FWD.
Distribution Support will only replace a lost or damaged Tablet upon

submission of the Planner/Leader of a fully completed and duly signed
commission deduction (amount based on the VIII Sales Tablet Payment
Schedule) and Sales Tablet Acknowledgement Form for the payment of the lost
or damaged tablet.
13.2.8 Tablet Retrieval Process
13.2.8.1 Planner
Should the Planner not meet his validation and retention
requirements and is delisted by the Company, Distribution Support
shall issue a demand, copied to the leader, for the return of the Tablet
issued to him.
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 The Demand Letter shall be included in the termination Letter
given to the planner who failed to validate via the rolling six (6)
month validation standards and/or the annual validation
standards for planners.
 The Leader shall make all efforts to retrieve the Tablet from his
Planner within 5 days from receipt of the demand
 The retrieved Tablet shall be returned to Distribution Support
within five days from surrender of the tablet for proper
documentation.
 Should the Leader fail to retrieve the Tablet from the Planner, a
demand letter shall be issued to the resigned / delisted planner
asking him to return the tablet assigned under his name.
 If the Tablet has not been returned within thirty days from the
delisting of the planner, the cost of the Tablet will be deducted
from the last pay out of the planner.
 Should the last pay out of the separated/delisted Planner is
insufficient to cover the cost of the Tablet, the amount
difference shall be a form part of her accountability in his/her
clearance.
 If the planner is unable to pay the cost of the tablet after 90
days from being delisted, the leader may shoulder the cost of
the tablet and payment will be done via commission deduction
from the commissions, overrides and bonuses of the leader.
13.2.8.2 Leader
 If the Leader has resigned or has been delisted within two years
from his appointment as a Leader, all tablets assigned to him or
in his custody must be surrendered to Distribution Support
within thirty days from the date the Leader has been separated
or delisted.
 A demand letter shall be issued to the resigned / delisted
demanding the return of any tablets assigned under his name.
 If the Tablet has not been returned within thirty days from the
delisting of the Leader, the cost of the Tablet will be taken from
the last pay out of the Leader.
 Should the last pay out of the separated/delisted Leader be
insufficient to cover the cost of the Tablet, the difference shall
be a form part of her accountability in his/her clearance.
 If the separated leader is unable to pay the cost of the tablet
after 90 days from being delisted, the up-line leader may
shoulder the cost of the tablet and payment will be done via
commission deduction from the commissions, overrides and
bonuses of the leader.
13.2.9 Cost of the Tablet
Tablet Age (Date Tablet was Released) Amount

Within 12 months Php17,000
More than 12 months but less than 24 months Php8,500
24 months but less than 36 months Php4,000
36 months and above 0
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SALES TABLET ACKNOWLEDGEMENT FORM
I hereby acknowledge that I have carefully read and understood the Sales Tablet Handling Policy and agree to comply
and be bound by its provisions including my duties and responsibilities stated therein and all other policies regarding
Information Security, Data Protection and the use of the Sales Tablet.
______________________________________ ________________ ________________
Signature over Printed Name Agent ID Agent Level
________________________ ________________
Branch Date signed
For the Agency Leader/Up line Manager:
I hereby acknowledge that I have carefully read and understood the Sales Tablet Handling Policy and agree to comply
and be bound by its provisions including my duties and obligations stated therein and all other policies regarding
Information Security and the use of the Sales Tablet.
______________________________________ ________________ ________________
Signature over Printed Name of the FWOfficer Agent ID Agent Level
________________________ ________________
Branch Date signed
______________________________________ ________________ ________________
Signature over Printed Name of the FWManager Agent ID Agent Level
________________________ ________________
Branch Date signed
______________________________________ ________________ ________________
Signature over Printed Name of the FWDirector Agent ID Agent Level
________________________ ________________
Branch Date signed
For the Agency Development Manager (ADM) or Sales Director (SD) and Training Officer
I hereby certify that the planner has attended FWD’s Circuit Training and is very competent enough to use the sales
tablet that we shall be assigning to the planner.
______________________________________ _________________________________________
Signature over printed name of ADM / SD Signature over printed name of training officer
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13.3 Withholding Tax of Professionals and Agents
The Bureau of Internal Revenue (BIR) has released Revenue Regulations No. 11-
2018 and 14-2018 “Amending Certain Provisions of Revenue Regulations No. 2-
98, as Amended, to implement Further Amendments Introduced by Republic Act
No. 10863, Otherwise Known as the “Tax Reform for Acceleration and Inclusion
(TRAIN)” Law Relative to Withholding of Income Tax” that affect the
withholding tax of professionals and agents.
13.3.1 Salient Points of RR 11-2018, as follows:
13.3.1.1 The tax rates for professionals, including insurance agents,
are as follows:
• 5% tax – if the current year income is more
than 250K but less than 3 Million Pesos.
•10% tax – if the current year income is more
than 3 Million Pesos.
13.3.1.2 The sworn declaration which is submitted every June 30 of
every year, shall now have a deadline of January 15 of
every year or at least prior to the initial payment of the
commission for the year. The submission includes the
following:
• Sworn Declaration
• Certificate of Registration (COR) – BIR Form
2303
13.3.1.3 Professionals and agents who are dealing only with one
payor/client and wanting to be exempted to the
withholding taxes should submit a copy of their COR and
their fully completed sworn declaration stating that they
will not exceed the threshold of Ps.250,000 for the year to
the Licensing Department of FWD.
13.3.1.4 Professionals and agents who want to be subjected to 5%
tax rate should submit their COR and a fully completed
sworn declaration stating that they will not exceed the
threshold of Ps.3,000,000 for the year to the Licensing
Department of FWD.
13.3.1.5 Non-submission of the sworn declaration and the COR shall
automatically subject the agent to the 10% tax rate.
13.3.1.5.1 Based on the above submissions, the regulation
mandates that the company shall submit to the BIR
a listing of agents 1) who declared that they are
exempt (those with gross receipts of 250K and
below with only 1 client/payor) and 2) those who
are subject to 5% tax rate (those with gross receipts
of above 250K but not more than 3M). The above
listings shall also be covered by a sworn declaration
of the Company. These listings shall be
accompanied by copies of the agents’ sworn
declaration and CORs.
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13.3.2 What an Agent needs to do:
To comply with the requirements of the Bureau of Internal Revenue (BIR) in the withholding of taxes on
commission payments to individual agents, the Company shall require the following documents:
 Certificate of Registration (COR); and,

 A fully filled our Sworn Declaration of Current Year’s Income (should be stamped
“Received” by the BIR)
These documents shall be submitted to the Company on or before January 15 of each year or at least
prior to the initial commission payment. Non-submission of the above-mentioned documents within the
prescribed deadline will constrain the Company to subject all income received by the agent to the
higher withholding tax rate of 10%.
Next Steps:
• A reminder will be issued by the company every December asking agents to submit the sworn
declaration and the COR on or before 15 January of every year.
• The default tax rate to be applied to all agents shall be 10%. The Company will adjust the tax rate
of the agent who submits the required documents (COR and Sworn Declaration) on or before the
deadline.
• Newly Coded Agents. For an agent to get a lower WHT of 5%, the agent must register as a
professional using the BIR Form 1901, fill out the sworn declaration, have this notarized and affix
the necessary document stamp tax in the sworn declaration.
Submission of these documents to the Company c/o the DS Licensing, should take place prior to the
first submission of business of the agent. If the agent fails to submit the afore-mentioned
documents, WHT of the agent shall be 10%.
Summary of the withholding of taxes on agents’ earnings:

• Agents who are VAT registered or were not able to submit the required Sworn Statement and
COR to FWD on time will be subject to 10% withholding taxes regardless of income level;
• Non-VAT agents who completely submitted the COR and B1 Sworn Statement on the deadline
will be subjected to the following withholding tax rates:
 Earnings from 0.00 to 3,000,000.00 5%
 Earnings from 3,000,000.01 and up 10%
• Non-VAT agents who submitted the COR and B2 Sworn Statement on time will be subjected to
the following withholding tax rates:
 Earnings from 0.00 to 250,000.00 0%
 Earnings from 250,000.01 to 3,000,000.00 5%
 Earnings from 3,000,000.01 and up 10%
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13.4 Guide on BIR Tax Filing
13.4.1 Monthly Business Tax
13.4.1.1 VAT Registered – use BIR Form 2550M for the months of
January, February, April, May, July, August, October and
November and BIR Form 2550Q for the months of March,
June, September and December.
https://www.bir.gov.ph/index.php/tax-information/value-added-tax.html
http://www.formsphilippines.com/view/47/qarterly-value-added-tax-return
The deadline for the filing and payment of the monthly VAT liability is on the 20th day
following the end of each taxable month. The quarterly VAT filing and payment which
should be accomplished on or before the 25th day following the end of the taxable quarter.
13.4.2 Quarterly Income Tax Return
For this filing, use BIR Form 1701Q

https://www.bir.gov.ph/images/bir_files/old_files/pdf/27231701Qjuly2008.pdf
The deadline of filing the quarterly income tax return and payment of
its related tax liability is on the 60th day following the end of the
taxable quarter.
13.4.3 Annual Income Tax Return
For this filing, use BIR Form 1701 and is due on the 15th day of the 4th month following the end
of the taxable year.
https://www.bir.gov.ph/images/bir_files/old_files/pdf/82255BIR%20Form%201701.pdf
- 58 -
How to fill up BIR Form 1701 Guide:
https://www.bir.gov.ph/images/bir_files/ebirforms/job_aid_how_to_fill_up_1701_v2013.pdf
If the deadline for the filing and payment of tax returns and tax liabilities fell on a Saturday, Sunday, or a
holiday, the relevant deadline will be moved to the next business day.
Please note that the above advisory are reminders only and should not be interpreted as the official tax
opinion of FWD. We recommend you consult your accountant and/or tax lawyer regarding the TRAIN
law.
Furthermore, this is still subject to change with the issuance of future BIR Revenue Regulations,
memoranda, circulars, and/or Department of Finance (DoF) advisories.
We shall continue to update you as soon as we receive official communications regarding the TRAIN law
from the BIR.
13.5 Agents Selling Inside Security Bank Premises
Only FWD Financial Solutions Consultants (FSCs) are authorized to conduct any
solicitation or sales activity within Security Bank premises, pursuant to the
authority granted by the Banko Sentral ng Pilipinas (BSP) and the Office of
Insurance Commission (OIC). Agents are prohibited from soliciting business or
making sales in any SBC bank premises. Agents should not use any bank
facilities or take any FWD literature stored in any SBC bank offices.
13.6 Dual License
All planners and leaders must be Dual-Licensed (VUL and Traditional)
13.7 Certificate of Registration and Authority to Print Requirements
All members of the Agency Force must comply with the Certificate of
Registration (COR) and Authority to Print (ATP) requirements set forth by the
Bureau of Internal Revenue (BIR).
Once an agent complies with the COR and ATP requirement, an agent may print
their official receipt through an accredited BIR printer in compliance with the BIR
requirement for agents and professionals
REFERENCES:
Tax Code 237: “Any person, including insurance agents, with every sale or
service transaction valued at Php25.00 or more has to issue receipts.”
Tax Code 238: “Secure from the BIR an authority to print receipts or sales or
commercial invoices before a printer can print the same.”
13.7.1 For Incoming Planners and Leaders
To our Agency Leaders/Recruiters, you must ensure your incoming

agents submit a photocopy of their COR & ATP, duly stamped
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“received” by the BIR, along with other Licensing and Coding
Requirements to the Recruitment Team.
13.7.2 For Existing Planners and Leaders
If you have not already done so, you must submit the photocopy your
COR & ATP, duly stamped “received” by the BIR, to Distribution Support
(Licensing Unit). If you have already submitted your COR and ATP, there
is no need to submit again.
For those who are not familiar with the BIR Process on securing your
COR and ATP, please see the Process Flow from the BIR below.
13.7.3 Guidelines in issuing an official receipt (OR)
Under Section 237 of the National Internal Revenue Code of the

Philippines, “All persons subject to an internal revenue tax shall, for
each sale or transfer of merchandise or for services rendered valued at
Twenty-five pesos (P25.00) or more, issue duly registered receipts or
sales or commercial invoices, prepared at least in duplicate, showing
the date of transaction, quantity, unit cost and description of
merchandise or nature of service: Provided, however, That where the
receipt is issued to cover payment made as rentals, commissions,
compensations, fees, receipts or invoices shall be issued which shall
show the name, business style, if any, and address of the purchaser,
customer or client.
In line with this regulation, we set out below the following
pointers/guidelines in the issuance of your Official Receipts (OR):
• All ORs should be duly registered with the BIR;
• All financial planners are required to issue an OR every time

they receive their commission. Since all planners are
receiving their commissions on a weekly basis, we would
expect to receive 4 ORs from each planner every month.
However, for your convenience, 1 OR per month, could also
be issued to cover all the amount of commission that you
received within the period. To illustrate, assume the
following for commissions earned by Jane Doe for the
month of May, 2019 with pay-out dates of May 05, 12, 19
and 26 and withholding tax rate of 10%;
- 60 -
Pay-Out Dates Gross Commission Withholding Taxes Amount Credited to Bank
1st Friday of the

20,000 2,000 18,000
Month
2nd Friday of the
12,000 1,200 10,800
Month
3rd Friday of the
35,000 3,500 31,500
Month
4 Friday of the
th
15,000 1,500 13,500
Month
Total 82,000 8,200 72,000
If the planners chose the per transaction approach, OR1 will bear the
amount of Ps.18,000; OR2 will bear the amount Ps.10,800; OR3 will
bear the amount of Ps.31,500; and OR4 will bear the amount of
Ps.13,500; If the planner chose the once a month approach, OR1 will
bear the total amount of Ps.72,000;
• ORs will be issued to the name of “FWD Life Insurance

Corporation”;
• OR’s will be dated as follows:
 If you choose the per transaction approach, the ORs should be dated on the dates
that you have received your weekly commission. To illustrate using the example
above, OR1 will be dated May 05, OR2 will be dated May 12; OR3 will be dated May
19 and OR4 will be dated May 26; or
 If you choose the once a month approach, the OR should be dated on the last date
of the month when the last commission was received. To illustrate using the above
example, OR 1 will be dated May 26;
• Once accomplished, the ORs will be forwarded to your

Agency Development Manager (ADM). The ADMs, in
return, will forward all the ORs submitted to them to
Distribution Support (DS);
• DS will match the received ORs against their records to

check correctness of the amounts indicated in the ORs. If
there are discrepancies between the ORs and DS’s
recorded, DS will notify the concern planner and request
for a reissuance of the correct OR.
13.8 Suspension Policy
13.8.1 Agents with Pending Material, Financial and other Accountabilities

with their Former Life Insurance Company
Upon receipt of the notification regarding the pending

accountability of an agent, Licensing will forward the
information to the concerned Agent cc. Agency Leader and
SD/ADM. The Agent will then be given thirty days to settle
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the accountability. If unsettled after thirty days, Licensing
may suspend the agent code of the agent. If after three
months from suspension, the Agent has not settled his/her
accountability/ies then Licensing may delist the Agent from
the roster of agents.
13.8.2 Agents who have not complied with Requirements for Renewal of
License
13.8.2.1 Agents who are eligible for renewal but have not complied
with the requirements for renewal will be suspended
immediately – effective first (1st) working day of January.
These Agents will be given three months to comply with
their renewal requirement including the renewal fees and
penalties. If the agent has not provided the necessary
renewal requirements including renewal fees and penalties,
Licensing will proceed to delist the agent from its roster.
13.8.3 Agents with Pending Cases that are being investigated

13.8.3.1 Upon receipt of any suspension order from Senior
Management, Licensing shall effect the suspension of the
said planner / leader in the DMS. The suspension shall be
lifted once Senior Management has made a resolution to
the pending case by the agent. In the event that the agent
is suspended for more than 30 days, the Licensing Team
shall seek the advice of the Agency Relations team with
regards to the pending case. Agency Relations shall
coordinate with Senior Management on the matter and will
follow-up on the decision of the case. Once a decision has
been made, the appropriate sanction will be effected
immediately by the Licensing Team if the agent is
determined to have violated the Market Conduct
Guidelines (MCG), Agency Code of Conduct (ACOC) and/or
Compliance and Ethics Committee.
13.9 Unauthorized Advertisements and Publication of Company Materials
• The Agency Agreement and Market Conduct Guidelines prohibits the

posting of any advertisements, training materials, promos and articles
and placing the Company logo or any Company materials in any
websites, publications, and on any social media sites without the prior
written consent from the Marketing and Branding Team of FWD.
• This rule includes but is not limited to media advertisement, sales and
marketing flyers, posters, proposals, circulars, letters or a post on any
internet web site, verbal references involving FWD or their affiliates in
any form of mass communications such as TV, print, radio, internet or
computer media.
• The AGENT shall be solely liable for, and shall fully indemnify FWD
against any claim, damage or suit that may result from the use of any
sales materials or sales illustrations not approved by FWD. In addition,
breach of this rule is an offence under the Agency Code of Conduct and
may result in disciplinary action being taken.
- 62 -
• Any unauthorized advertisements, posts, publications or use of any
Company materials without such prior consent should be taken down
immediately.
13.10 Orphan Management Guidelines and FAQs
• NOTICE OF SEPARATION. Separation of a Financial Wealth Planner

(FWP) may be self-initiated (resignation) or company initiated
(termination). Any notice of separation should be coursed to
Distribution Support (DS).
• REDISTRIBUTION OF INFORCE POLICIES. After review and acceptance
of notice of separation, the Conservation Team will prepare a policy list
which will be forwarded to the up line leader. Leaders are encouraged
to distribute the unassigned accounts to Financial Wealth Planners
within their group for proper servicing.
 The leader responsible for re-distribution should send a copy of
the list with names of receiving agents to the Conservation
Team. Unassigned policies will be transferred to the
Conservation Team. .
 The ADM of the resigned agent should be copied in on the
distribution list (from Conservation to Leader and vice versa) to
ensure that submission is monitored accordingly.
 A change in agent in the system should be implemented by the
Conservation Team upon receipt of confirmation of transfer
from the Leader or ADM. Unassigned policies from agency
should be transferred to HO Account (10000003).
 The Conservation Team will conduct a monthly review of
orphan policies to track policy assignments.
• NOTICE OF TRANSFER/NOTICE OF SEPARATION – Orphan Policy Owners
will be sent a Notice of Transfer or Notice of Separation by the
Conservation Team through the client’s preferred mode of communication.
• CLIENT INITIATED REQUESTS - Client requests for transfer of agent
supersedes any company assigned transfer.
• TRANSFER OF BENEFITS - Prospective commissions and production credits
will be received by the receiving FWP upon transfer. Any benefits prior to
transfer will not be given to the receiving FWP.
• PERSISTENCY IMPLICATION - Lapsation or persistency risk is likewise
transferred to receiving Financial Wealth Planner (FWP).
• TRANSFER OF BUSINESS TO AGENT AFTER FULL CYCLE - Active agents may
request for transfer of policies under head office (agency) subject to
submission of a transfer of business form signed by policy owner.
• CONFLICTS AND DISPUTES - In cases wherein any conflict arise from
distribution of policies, the case will be raised to the Complaints Committee
if the complainant is a Policy Owner. If a dispute is raised by an agent, the
issue will be raised to the ADM and Sales Director.
• REPLACEMENT RULE - Replacement guidelines will apply to all policies
including orphan plans. This rule states that any lapsed policy 1 year prior
to or after
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issuance of a new one will result in penalty and claw back of commissions
and benefits.
• NON-ORPHAN TRANSFER OF BUSINESS - Transfer of business for active
FWPs will follow the guidelines set by the Conservation Team.
Transfer of Financial Wealth Planner:
 FROM ACTIVE FINANCIAL WEALTH PLANNER TO ACTIVE

FINANCIAL WEALTH PLANNER (FWP) - only the policy owner
may request for transfer of the servicing FWP. Acceptable
modes of request are:
o Letter from Policy Owner with valid signature
o e-Mail from the Policy Owner using registered e-mail
address
o Call from the Policy Owner if received via a recorded
FWD line
For changes of servicing agent prior to issuance of the policy, an addendum or a request
from owner applicant is required to be submitted to the New Business Team. FWD
representatives who receive the request for transfer should male reasonable efforts to
inquire the reason for the request to transfer FWP. If the reason is due to negative
experience, the recipient should forward the negative feedback to CX for proper handling
based on Feedback Handling Guidelines. The Conservation Team will inform the current
active agent and the up line leaders of the transfer request as a courtesy notice.
Any questions regarding orphan management can be directed to Conservation.ph@fwd.com or

telephone number 888-8393 ext. 7156.
13.11 Renewal Payments through Post Dated Cheques (PDC)
To give our clients flexibility and more options to pay their premiums, we accept
PDC transactions for the payment of premiums. PDCs are only applicable for regular
monthly paid premiums.
13.11.1 PDC Implementation - Frequently Ask Questions (FAQs)
13.11.1.1 How to process PDC Option in E-app?

Agent must tick off the Auto-Charge Authorization (ACA)
payment option to apply for the PDC payments of policies.
Please note that ACA option is applicable to both PDC and
Credit Card payment.
13.11.1.2 How is the initial payment done before applying for PDC?
Initial one (1) modal premium payment is required either
thru offline or Credit Card via Dragon pay.
13.11.1.3 Is PDC a mandatory requirement upon issuance of policy?
What are the requirements needed?
Yes, similar with ADA and ACA, PDC will be a mandatory
requirement prior issuance of the policy. On the requirements,
please don’t forget to complete the following;
- 64 -
• Completed PDC Agreement Form (with Cheque
Details) must be signed by the client and/or the payor
and witnessed by the servicing agent on record.
• All Cheque details must be accurately written
13.11.1.4 What type of modal premium do we apply for PDC? Can

we apply it across all modal types?
• Only monthly mode is acceptable at this time.
• Client must submit at least minimum of 12 checks
(to cover until 13th month)
13.11.1.5 Where will we send the PDC cheques?
• All PDCs can be sent to our nearest FWD Branch
Office nationwide, or
• Directly to FWD Head Office – Branch Connect.
13.11.1.6 What will happen if the cheque date will not coincide on
the Approval/Issue date of the policy?
• FWD will still accept the cheque, and will treat the
cheque date as an advance payment date prior to
Policy due date.
• For cases where PDCs will be required to be
replaced, we will allow 1 week for the agent to
assist in the check replacement from the policy
owner.
13.11.1.7 How do we request for pull out or request for
replacement?
Pulling out of checks must be made 7 working days prior to
due date or date of check, otherwise, subject to penalty
charge of P50.00 per check. Penalty charge should be paid
prior to request of check pull-out.
13.11.1.8 Can we also accept PDC owner other than the policy
owner?
Yes. We will follow our existing relationship guidelines with ADA/ACA to our PDC
implementation.
13.12 USD VUL Payment Guidelines
Security Bank (SBC) is our bank partner in facilitating USD premium payment for
our All Set Higher US Dollar Product. The following updates will guide our clients in
processing the US Dollar premium payment.
• US Dollar Check Payment

 All check payment shall be accepted via SBC over the counter (OTC)
deposits only.
 Dollar payments must be made directly using FWD USD Account Number
(0396-054323-004).
 Please put the Application Reference Number at the check deposit slip.
 A copy of deposit slip must be sent to the following email addresses or
should be uploaded through IRIS Web;
NBInquiry.ph@fwd.com
PremiumConnect.ph@fwd.com
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 Please note that US Dollar check payment is not yet covered on the Bills
Payment Facility. Therefore, all payments are via direct deposit to FWD US
Dollar account.
 Please ensure that check payment are fully funded. There will be applicable
charges if cheque payments will be returned to client’s depository bank.
Since cheque payments are immediately accepted by SBC, there will be no
more clearing period, however, the below charges will be applied if cheque
is returned;
o For the client, the usual applicable charges for returned check will
be applied, depending on the client’s depository bank. In addition,
interest at prevailing SBC lending rate plus 24% penalty charge per
month.
 For the salesforce, commission claw back will be processed accordingly.
• US Dollar Cash Payment (When Client has US Dollar Notes on Hand)
 Bills payment facility is already available for USD Cash Payment.

 All USD cash payments shall be made at any of SBC Branches nationwide.
The payor should have the following:
 US Dollar Notes
 Application Reference Number (c/o the agent)
 FWD USD Account Number
 Client must get an SBC Bills Payment form when paying in cash and present
to Bank Teller.
 Please put the Application Reference Number on the Bills Payment Slip.
 A copy of validated bills payment slip must be sent to the following email
addresses or should be uploaded through IRIS Web;
• US Dollar Wire Deposit Payments (Either Local or Overseas)
 Similar as check payments, all wire payments shall be deposited directly to

FWD -SBC USD Account Number (0396-054323-004).
 A copy of confirmation deposit slip must be sent to the following email
addresses or should be uploaded through IRIS Web;
 The following are key information needed for wire transfer;
Bank’s Name: Security Bank Corporation
Account no. 0396-054323-004 (Dollar Account)
Account Name: FWD Life Insurance Corporation
Branch of Account: Fort Bonifacio SLMC Branch
Branch Address: G/F Medical Arts Building, St Luke’s Medical Center,
Taguig
Bank’s Swift Code: SETCPHMM
 SBC charges on the wire transfer will be for the account of FWD, while our
client will shoulder the charges coming from his depository bank.
- 66 -
• Converting Peso to US Dollars at any SBC Branch (When Client only has Peso
Notes)
 if client has an existing SBC Peso Account, or currently has peso on hand,
SBC will provide the Bank’s Preferential Exchange Rate, which will be
provided to the client at the bank.
 The following requirements will be completed by the client and FWD;
Application form for USD currency exchange
Confirmation letter of USD Purchase for USD VUL Policy –c/o FWD.
 After USD cash conversion, client will follow option 2 guidelines when
paying US Dollar in Cash.
For Aftersales Transactions, please be reminded that weekly valuation is

implemented, and executed every Monday. Early submission of aftersales
request in relation to investment prior to Monday will still be processed by next
Monday.
13.13 General Guidelines in Changing Policy Mode of Payment
• Request to change is allowed at any time.

• Change to a less frequent mode is allowed provided any balance
required of the desired mode is paid.
• Change mode to a more frequent mode is not allowed if the less
frequent mode is already paid in advance. No reversal premium to
refund excess payment can be made.
• Auto-Pay facility is allowed provided bank account/credit card be
enrolled and enrolment should be completed 60 days prior to the next
due date.
• Balance to complete a less frequent mode is allowed for policies
with no modal charge – e.g. unit linked products - provided request is
made within 90 days from policy due date or from the last due date.
13.14 Processing and Production Cut-Off Schedule
The submission cut-off schedule, in general, is always slated three working days
prior to month-end. Our New Business and Underwriting (NBU) Team shall
guarantee the issuance of all applications submitted on or before the
submission cut-off provided that these are submitted together with complete
requirements and these are clean cases. All applications submitted after the
cut-off shall be processed on a best effort basis.
We shall be releasing a memo and update this manual as soon as we get the
updated 2020 cut-off schedule.
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Submission of
Applications, Submission of
Premium Compliance Last NB End of
Declared National & Special Payments & Requirements Issuance Monthly
Month
Holiday/s POS Forms & POS Production
Processing Cycle
5:00 PM
Guaranteed Processing for Submissions
Received Within the Prescribed Day & Time
January 1st, New Year's Day

25th, Chinese New Year 29th 30th 31st 31st
25th EDSA Revolution
February
Anniversary 26th 27th 29th 29th
March 27th 30th 31st 31st
April 9th-11th, Holy Week 28th 29th 30th 30th
May 1st, Labor Day

24th, Eidul Fitr 27th 28th 31st 31st
June 12th, Independence Day 26th 29th 30th 30th
July 31st Eidul Adha 29th 30th 31st 31st
August 21st, Ninoy Aquino Day

31st, National Heroes Day 27th 28th 31st 31st
September 28th 29th 30th 30th
October 28th 29th 31st 31st
November 1st-2nd All Saint's Day

30th, Bonifacio Day 25th 26th 27th 30th
8th, Immaculate Concepcion
December 24th-25th, Christmas
30th-31st, Rizal Day/NYE 23rd 28th 30th 31st
 Submissions received on or before the indicated cut-off day & time shall be accorded
with guaranteed processing as it relates to evaluation, UW feedback or decision, NB
issuance and POS processing;
 If a particular business unit is unable to do the above, Auto Appeals endorsement to
Distribution will kick-in for all submissions (whether New Business, compliance or POS)
that are complete and submitted within the guaranteed processing period;
 Submissions received beyond the indicated cut-off day & time shall be attended to on a
best effort basis following a queuing system; and
 All dates indicated herein refer to Business Days
- 68 -
- 69 -
13.15 Routine Medical Requirements
This is to advise that the following Routine Medical Requirements schedule for
the age bands and total sum at risk (TSAR) as defined below, shall be applied to
business cases received at New Business Department starting February 1, 2018.
FROM TO
TSAR > 21,000,001 (Php) TSAR 21,000,001-50,000,000 (Php)
SAME
Ages 18 -45 years Package 8 TSAR > 50,000,0001 (Php)
Ages 46 -50 years Package 9 Ages 18 -45 years Package 15
Ages 51 -55 years Package 12 Ages 46 -50 years Package 15
Ages 51 -55 years Package 15
To illustrate:
Application received date at NBD: January 25, 2018
Age of Proposed Insured: 51 years old
TSAR amount: Php 53 million
Routine Medical Requirements: Package 12
Application received date at NBD: February 1, 2018

Age of Proposed Insured: 51 years old
TSAR amount: Php 53 million
Routine Medical Requirements: Package 15
- 70 -
This document supersedes previously issued memo on same subject. Further, this memo and the
attachment herewith shall serve as your reference for revisions on your business unit
documents/materials/decks where this subject (Routine Medical Requirements) is part of or
incorporated.
13.16 Non-Medical Authority (NMA) Limit Upgrade
Age <1 1–6 7 - 17 18 - 40 41 - 45 46 - 50 51 - 55 56 - 60 61 - 65 66 - 70 71 - 75

up to up to up to up to up to up to up to up to up to up to up to
NML 12.5 M 12.5M 12.5M 12.5M 12.5M 12.5M 8.8M 4M 1.5M 1.5M 1.5M
Schedule of Routine Requirements
0-6 7-17 18 - 40 41 - 45 46-50 51 - 55 56 - 60 >61
Up to 1.5M NM
1,500,001 - 4M NM FME
4,000,001 - 8.8M NM FME, BP1, MUR FME, BP2, MUR

8,800,001 - FME, BP2, MUR, FME, BP3, MUR,
12.5M NM NM NM NM NM FME, BP1 ECG ECG
12,500,001 - FME, BP3, MUR, FME, BP3, MUR,
15M PR FME FME, BP1 FME, BP1 FME, BP1, ECG FME, BP1, ECG TST TST
15,000,001 - FME, BP1, FME, BP1, HIV, FME, BP1, HIV, FME, BP3, HIV, FME, BP3, HIV,
21M PR FME HIV FME, BP1, HIV ECG ECG MUR, TST MUR, TST
21,000,001 - FME, BP2, FME, BP2, HIV, FME, BP2, HIV, FME, BP3, HIV, FME, BP3, HIV,
50M PR FME HIV FME, BP2, HIV ECG MUR, TST MUR, TST MUR, TST
FME, BP2, FME, BP3, FME, BP3, HIV, FME, BP3, HIV, FME, BP3, HIV, FME, BP3, HIV,
>50,000,001 PR FME HIV HIV, MUR, TST MUR, TST MUR, TST MUR, TST MUR, TST
Code Description
NM Non Medical
PR Pediatrician Report
FME Full Medical Examination

Blood Profile 1
(BP1) CBC, FBS, BUN, Creatinine, Cholesterol, SGOT, SGPT, GGPT
Blood Profile 2
(BP2) CBC, FBS, BUN, Creatinine, Cholesterol, SGOT, SGPT, GGPT, HbsAg (if HbsAg is positive, perform AFP and HBeAg)
Blood Profile 2
(BP2) CBC, FBS, BUN, Creatinine, Cholesterol, SGOT, SGPT, GGPT, Uric Acid, HbsAg (if HbsAg is positive, perform AFP and HBeAg)
HIV HIV Antibody Test
MUR Microurinalysis
ECG Electrocardiogram
TST Treadmill Stress Test
- 71 -
Financial Evidence Requirement Table
Previous Guidelines New Guidelines Financial Requirement
Aggregated sum assured – PhP10M to Aggregated sum assured – PhP12.5M to - Personal Financial Questionnaire
PhP20M PhP25M
Aggregated sum assured > PhP 20 M Aggregated sum assured > PhP2 25M - Personal Financial Questionnaire
- Income Tax Return
- Audited Financial Statement
- Other proof of income or financial
evidence
Single Premium – PhP40M to PhP80M Single Premium – PhP40M to PhP100M - Personal Financial Questionnaire
Single Premium > PhP80M Single Premium > PhP100M - Personal Financial Questionnaire
- Income Tax Return
- Audited Financial Statement
- Other proof of income or financial
evidence
13.17 Restricted Areas

Below is the list of the Restricted Areas in the Philippines as of April 20, 2018.
Province Town/City
Basilan Isabela de Basilan

Basilan Lamitan
Basilan Lantawan
Basilan Maluso
Basilan Sumisip
Basilan Tipo-tipo
Basilan Tuburan
Sulu Indanan
Sulu Jolo
Sulu Kalingalan Kalauang
Sulu Lugus
Sulu Luuk
Sulu Maimbung
Sulu Marungas
Sulu Panamao
Sulu Panglima Estino
Sulu Panguntaran
Sulu Parang
Sulu Pata
Sulu Patikul
Sulu Siasi
Sulu Talipao
Sulu Tapul
Sulu Tongkil
Tawi-Tawi Balimbing
Tawi-Tawi Bongao
Tawi-Tawi Cagayan de Sulu
Tawi-Tawi Languyan
- 72 -
Tawi-Tawi Sapa-sapa
Tawi-Tawi Simunol
Tawi-Tawi Sitangkai
Tawi-Tawi South Ubian
Tawi-Tawi Taganak (Turtle Island)
Tawi-Tawi Tandu Bas
For the complete list of Philippines areas you may check out the IRIS Web.
13.18 Standard Numerical Date Format of Checks
The Philippine Clearing House Corporation (PCHC) has advised that dates on
Checks written in purely numerical format shall be interpreted and read as
MONTH-DAY-YEAR only. British English format will no longer be acceptable.
The following formats are acceptable:
Format Example
Fully written November 03, 2019
Abbreviated Month (First three letters) Nov. 3, 2019
Numeric style (with full year) 11032019
Numeric style (with last 2-digit year) 110319
Numeric with ‘/’ partition (full year) 11/03/2019
Numeric with ‘/’ partition (shortened year) 11/03/19
Numeric with ‘-’ partition (full year) 11-03-2019
Numeric with ‘-’ partition (shortened year) 11-03-19
Numeric with ‘.’ partition (full year) 11.03.2019
Numeric with ‘.’ partition (shortened year) 11.03.19
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14. Internal Replacement Guidelines
In line with FWD’s corporate value of “doing the right things right”, our distribution
channels must understand, uphold and reinforce the rules concerning “internal replacement”
which is a vital part of the Company’s Distribution Compliance Policy and Market Conduct
Guidelines (“MCG”). FWD needs to reiterate that FWD agents are not allowed to replace
policies, facilitate or induce any client to generate funds from the cash values of existing
policies to finance part or all of the premiums for the new policy. This is also pursuant to the
various circulars issued by the Insurance Commission (IC Circular Nos. (2002-01 and 2013-
33).
The purpose of the Internal Replacement Guidelines (“Guidelines”) is to help all FWD
distribution channels to understand the Company’s framework on policy replacement, the
approach in the handling thereof, and reinforce an ethical behavior of treating customers
right.
As a general rule, it is disadvantageous to replace an existing insurance policy with a
new policy. Some of the reasons it may be disadvantageous to the clients are:
1. The amount of annual premium under an existing policy is lower than the new life
insurance policy (with similar coverage or benefits) because the premiums for
replacement policy is based on the insured’s attained age.
2. Policy replacement causes the policy owner to incur the initial costs twice.
3. Incontestability and suicide clauses begin anew in the replacement policy. This may
result to denial of claims.
4. There may have been changes in the client’s health since the purchase of existing
coverage.
FWD agents must take to heart that our Company’s success is not only dependent on
the quality of its products in the market but also on the service provided to our clients. FWD
agents should never suggest, recommend or induce a client’s to use policy values from an
existing policy to pay all or part of any premium on a new policy, either before or after the
issuance of the new policy. FWD agents should provide necessary information, such as, pros
and cons of policy replacement to clients. Any policy replacement must be based on client
needs, decision and consent and not designed to bypass the laws or internal policies.
This Guidelines establishes the framework for internal policy replacements, including the
monitoring, detection and financial consequence for unjustified policy replacements.
Guidelines
A. Policy Replacement
The following shall be considered as Policy Replacements:
• Lapsation and/or surrender of a traditional policy within 365 days (one year)
before or after submission or issuance of a traditional policy;
• Policy loan (more than 70% of cash value) on a traditional policy within 365 days
(one year) before or after submission or issuance of a traditional policy;
• Full or cumulative partial withdrawal (50% or more) of a variable policy within
365 days before or after an application for another variable life policy is
submitted or issued;
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B. Additional Parameters for Policy Replacements
The Company’s Policy Replacement shall consider the type of product and will be determined
based on the table below:
1. The basis for determining policy replacement will be the Life Insured and not the
Policy Owner.
2. Conversion to or replacement of old policy with a new term policy shall not be
considered as Policy Replacement in this Guidelines.
3. The following is not considered policy replacement: Policy being replaced has a
different feature (single pay to a regular pay plan), or currency (Peso to Dollar),
or variable life policy replaced by a traditional policy or vice versa.
- 75 -
Financial Consequence
A. Definition of Financial consequence (FC)
FC refers to the forfeiture of the commissions or return of commissions received for the
replacement policy, including forfeiture of policy credits (PC).
B. Percentages of Financial Consequence
The type of product and transaction/s will be used in determining the percentage of financial
consequence based on the table below:
“Incremental Credits” refer to the difference on commission, overrides, bonus, production

credits and/or other incentive payments between the Replacement Policy and the Original
Policy.
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Incident Monitoring & Investigation
A. Replacement of any policy and/or rider shall be subject to Company validation. On a

quarterly basis, Compliance shall refresh and monitor the Policy Replacement
Dashboard. For noted Policy Replacement, Compliance Team shall:
1. Evaluate and investigate the agent for possible market misconduct (i.e, Agents will be
asked to explain);
2. Compliance, in evaluating the Policy Replacement, shall consider the following factors
in determining if the replacement has been made validly or not:
a. Whether the client suffers any penalty or loss for terminating his original life
insurance policy;
b. Whether the client will incur any charges or costs from the said replacement
without any real benefit;
c. Whether the new insurance policy/product confers a lower or similar benefit
at a higher cost; or
d. Whether the new insurance policy/product is found to be less suitable to the
needs of the client.
3. Recommend the appropriate sanction to the Compliance and Ethics Committee based
on the Agency Code of Discipline and Market Conduct Guidelines, including the
Financial Consequence referred in this Guidelines;
4. Refer the case to Distribution Support for the implementation of the sanction (if
applicable), particularly the Financial Consequence.
- 77 -
Review of the Guidelines
This Guidelines shall be reviewed annually or as often as necessary. Any changes to the
Guidelines shall be effective immediately upon issuance of an advisory to relevant
functional units and distribution channels stating the change or amendment/s made.
15.Market Conduct Guidelines & Agency Code Of Discipline & Business

Conduct
FWD is committed to observing the highest code of professional ethics in conducting its business. The
principles of honesty and fairness are paramount in establishing our policies and guidelines to ensure we
operate in accordance with the highest standards of professionalism.
The Insurance Commission (IC) has issued ‘Market Conduct Guidelines’ (MCG) which all distributors
licensed by IC must adhere to. In addition, FWD has its own guidelines as set out in the Agency Code of
Discipline (ACOD) – this does not replace MCG but is supplemental to it. ACOD in conjunction with MCG
sets out the standards of behavior and best practices that FWD expects of its agents to demonstrate and
observe when conducting their day-to-day business activities.
Failure to act in accordance with the expected level of standards and/or observe proper conduct shall
result in disciplinary action, which may include termination and/or civil or criminal liabilities. ACOD
provides for the classification of offenses and the possible disciplinary sanction in each case.
Any act, conduct or behavior that are considered damaging to FWD, including its affiliates, clients and
employees, even if not explicitly stated in the MCG, will also be sanctioned. Management reserves the
right to impose heavier penalties, including termination, as the case may warrant it.
The MCG should be read together with FWD’s Agency Code of Ethics & Business Conduct and other
relevant Compliance Policies and Issuances, all of which may be accessed in ALEX.
For more details, please visit Alex and click the link below:
https://elearning.fwd.com.ph/mod/scorm/view.php?id=512
- 78 -

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FWD Philippines

1. FWD Company Profile

1.1 About FWD Philippines

For more information, please visit fwd.com.ph.

www.insurance.gov.ph > Statistics > 2017 > Based on Paid-Up Capital

www.insurance.gov.ph > Statistics > 2018 > Based on Premium Income

*Top Ups, whether Ad Hoc or regular, are treated as Single Premium

2.12 Override – The Agency Leader’s remuneration based on a percentage of the

* AFWO level leaders do not qualify for override on their own

2.16 Quarterly Volume Bonus (QVB) – a quarterly bonus based on personal

The formula for this bonus is:

2.17 Validation Standards – production, manpower and persistency parameters

2.18 Promotion Standards – parameters used in determining eligibility for an agent

2.19 eConnect - is the online version of Connect, FWD’s on-boarding training

3.1 The Agent’s Role

3.2 The Agent’s Responsibilities

3.3 The Leader’s Role

3.4 The Leader’s Responsibilities

3.5 The Agent/Leader Legal Relationship with FWD

The Leader levels are shown below:

5.1 Validation Standards

Agent VALIDATION STANDARDS

5.1.3 If a Planner fails to meet the validation requirements, his Agency

5.1.10 All reclassification shall be subject to the final approval of Senior

5.2.1 Promotion Parameters

5.2.1.1 With the exception of promotion from Planner to AFWO,

SITUATION C: FWO demoted to AFWO

*Appointed AFWOs are no longer subject to the annual

5.2.1.6 Prerequisite for Appointment to AFWO:

5.2.1.7 Qualifications for Promotion from AFWO to FWO:

5.2.1.8 The AFWO and AFWM positions are intended to be interim

5.2.1.9 Within the Agency Hierarchy, it is not permitted for leaders

5.2.1.10 An Agency Movement Form (AMF) for promotions on merit

Spin-off happens when a leader is promoted to the same level or above

5.2.2.1 When an AFWO is promoted to FWO and his direct leader is

Persistency is the measure of the subsequent premium collection efficiency on a block of

6.1 19th Month Persistency

Formula for 2019 (LIMRA 19th Month Calculation):

• APE is computed as follows:

Formula for the Simplified Persistency:

Important Points to remember for the Simplified Persistency:

7.1 Basic Commission

** Commissionable up to the 10th year of the policy.

1 40% NA 50% 53%

1 40% NA 50% 53%

1 40% NA 50% 53%

7.2.2 In Force Set for Life Base Plan

• Individual Commissions as percent of FYC

• Case Count Credit

Special Notes Regarding Digital Products

7.4.1 Overrides are a percentage of commissions earned from premiums

FWP 12.50% 10% N/A N/A

FWP - FWP - AFWO 12.50% 10% 10% N/A

FWP - FWO 10% 7.50% 7.50% N/A

FWP - AFWO - AFWM 20% 15% 15% N/A

FWP - FWP - AFWO -

7.5.1 QUARTERLY VOLUME BONUS (QVB)

7.5.2 QUARTERLY PERSISTENCY BONUS (QPB)

QUARTERLY PERSISTENCY BONUS

3. No overrides for FWP under Agent-get-Agent program if structure has an AFWO.

8.1 Sales Compensation

Corporate Care Compensation Customized Packaged GL Package GA

8.2 Sales Incentives & Bonuses – Corporate Care Business