UPGRADED BASIC FOR BFP, BJMP & PCG PERSONNEL

AFPMBAI PRODUCTS AND SERVICES Comparison of Old Basic and Upgraded Basic
MODIFIED BASIC INSURANCE FOR AFP PERSONNEL Particulars Old Basic Upgraded Basic
Comparison of Old Basic and Modified Basic NEW
Life Insurance Whole Life Term Insurance
Particulars Old Basic Modified Basic Monthly Fixed amount certain percentage of base
Life Insurance Whole Life Term Insurance contribution depends on rank pay but not more than 1.5%
Monthly Contribution Fixed amount 0.5% of Base Pay - 1st year Living Benefit Cash value Member’s Equity +
depends 1.0% - 2nd year; earned CV at conversion
on rank 1.5% - 3rd year onwards Loan Policy loan at 6% Equity Loan at 6%
Living Benefit Cash Value Member’s Equity + interest per annum interest per annum
(CV) earned CV at conversion Dismemberment / Depends on Higher benefit depending
Loan Policy Loan Equity Loan at 6% disability benefit Face Amount on Face Amount
at 6% interest interest per annum Death Benefit Face Amount Face Amount + Equity Fund
per annum (natural)
Dismemberment / Depends on Higher benefit depending Death Benefit Face Amount 200% of Face Amount
disability benefit Face Amount on Face Amount (accidental) + Equity Fund
Death Benefit (natural) Face Amount Face Amount + Equity Fund Face Amount Face Amount +
Death benefit (KIA) P50,000 + Equity Fund
Death Benefit Face Amount 150% of Face Amount
(accidental) + Equity Fund SPECIAL GROUP TERM INSURANCE (SGTI)
Death Benefit (KIA) Face Amount 150% of Face Amount +
coverage of P16,000 for natural
with P1,000 funeral benefit
P50,000 + Equity Fund deaths & P32,000 for KIA
with disability benefit
ADDITIONAL INSURANCE
Premium Maturity Date Dividends Bonus Other Features and Benefits Loan
Paying Period Privilege
College 5 years Policy anniversary Starting on the 4th None Waive premium payment for death or Policy
Educational month following policy year up to policy total & permanent disability of payor Salary
Plan(for children child’s 17th birthday anniversary date prior Medal
0-11 years old) to child’s 16th birthdate
Endowment at 10/15/20 After Starting on the 4th policy None None Policy
10/15/20 Years years 10/15/20 years year up to the year before Salary
maturity date, if participating Medal
Anticipated 20 years After 20 years None 20% of face amount None Policy
20-Year on 5th,10th,15th policy Salary
Endowment anniversary dates Medal
Easy Pay 10 years After 20 years Starting on the 4th policy None None Policy
(10-20 Plan) year up to the year before Salary
maturity date Medal
Saver’s 10 years After 15 years Starting on the 4th policy 20% of face amount Double insurance coverage Policy
Protection year up to the year before yearly starting on the in case of death from Salary
Plus maturity date 10th -14th policy 6th-15th year Medal
(10-15 Plan) anniversary dates
20 Pay Life 20 years Lifetime Starting on the 4th policy None None Policy
year up to age 98, Salary
if participating Medal
Whole Life Lifetime Lifetime Starting on the 4th policy None None Policy
year up to age 98, Salary
if participating Medal
Endowment Up to last On the insured’s Starting on the 4th policy None - Premium is 3% (PNP, BFP BJMP) Policy
at 56 (for month prior to 56th birthday year up to age 55 or 5% (AFP & PCG) of basic pay Salary
uniformed insured’s - Increase in pay of insured increases Medal
personnel 56th birthdate the premium and coverage
only) - Double indemnity for accidental death
- With disability benefit for accident
- Maturity benefit can be claimed in
lump-sum or 3-yr staggered
- With burial benefit of P5,000 (3%
premium) or P10,000 (5% premium)
POLICY LOAN Mutual Executive Heights, Brgy Bulatoc/Tiguma, Pagadian City

6% interest rate per annum mium payment (for endowment Lot price: P2,400/sqm Lot size: 120 sqm - 150 sqm

loanable amount based on the plans) or after 3 years (for life *Prices subject to change without prior notice
cash value of the insurance plans) Requirements for automatic payroll deduction

available after 2 years of pre- 1. Processing fee 4. Photocopy of goverment-issued
MEMBERS’ EDUCATIONAL ASSISTANCE LOAN (MEDAL) 2. Latest original payslip ID
3. Appointment order (CE)

For non-AFP members with
Available as soon as one
active additional insurance month premium contribution has Additional Requirements (under the direct payment scheme or

Maximum of P50,000 been remitted to the Association thru issuance of postdated checks, whichever is applicable)

7% interest rate per annum thru payroll deduction 1. Latest Business Permit borrower (from employment

Payable within one year
Requires one co-maker 2. Latest ITR and/or Business Tax other than as serviceman) also
Receipts/Audited Financial Re- indicating the salaries/allow-
REAL ESTATE MORTGAGE LOAN PROGRAM port/Income Statement ances and payslip
Purposes 3. Certificate of Income, duly no- 5. Certificate of employment of the
1. Purchase of lot 8. Pay-off of loans from financial tarized spouse also indicating the sala-
2. House construction institutions (amortization must 4. Certificate of employment of the ries/allowances and payslip
3. Purchase of lot with house con- be reflected on payslip) NOTE: The postdated checks to be issued upon loan approval
struction 9. Purchase of untitled properties, must be from the checking account of the applicant.
4. Purchase of house and lot properties under pre-selling BASIC MONTHLY AMORTIZATION
5. Home improvement schemes and/or house con-
(excluding premium for fire insurance & redemption insurance)
6. Refinancing of real estate loan struction on untitled lot, loan to
7. Redemption of foreclosed prop- be secured by a titled property AMOUNT TERM OF PAYMENT
erty 0F LOAN
5 yrs 10 yrs 15 yrs 20 yrs
Loanable Amount shall be based on the following, whichever is
lowest: 100,000.00 1,909.93 - - -
1. Paying Capacity 3. Loan Value = 70% of the Ap- 150,000.00 2,864.90 - - -
2. Actual Need praised Value of the collateral 200,000.00 3,819.86 - - -
Loan Requirements 250,000.00 5,069.58 3,033.72 2,389.71 2,091.72
1. Latest payslip ment of Account from Seller/Fi- 300,000.00 6,083.49 3,640.46 2,867.65 2,510.07
2. Photocopy of Land Title/TCT nancial Institution/Developer/ 350,000.00 7,097.41 4,247.21 3,345.59 2,928.41
3. Lot Location Plan with signature Bank 400,000.00 8,111.32 4,853.95 3,823.53 3,346.76
and Dry Seal of Geodetic Engi- *Additional requirements if 450,000.00 9,125.24 5,460.69 4,301.47 3,765.10
neer loan purpose is house con- 500,000.00 10,139.15 6,067.44 4,779.41 4,183.45
4. Tax Declaration of Lot or House struction 550,000.00 11,417.09 6,967.17 5,578.47 4,948.49
and Lot 7. Building Plans (1 set) 600,000.00 12,455.01 7,600.55 6,085.60 5,398.36
5. Tax Clearance and Realty Tax 8. Bill of Materials or Cost Estimate 650,000.00 13,492.93 8,233.93 6,592.73 5,848.22
Receipts for current year (1 set) 700,000.00 14,530.85 8,867.30 7,099.87 6,298.08
6. Contract to Sell and/or State- 9. Building permit 750,000.00 15,568.76 9,500.68 7,607.00 6,747.94
800,000.00 16,606.68 10,134.06 8,114.13 7,197.81
Age Max Term Loan Bracket Interest Rate
850,000.00 17,644.60 10,767.44 8,621.27 7,647.67
Bracket of Loan Per Annum
900,000.00 18,682.52 11,400.82 9,128.40 8,097.53
25 to 45 20yrs P200,000 and below 5.5%
950,000.00 19,720.44 12,034.20 9,635.53 8,547.40
46 to 50 15yrs Above P200,000 to P500,000 8% 1,000,000.00 20,758.35 12,667.58 10,142.67 8,997.26
51 to 55 10yrs Above P500,000 to P1M 9% 1,100,000.00 23,369.58 14,534.14 11,817.96 10,612.32
56 to 59 5yrs Above P1,000,000 to P3M 10% 1,200,000.00 25,494.09 15,855.43 12,892.32 11,577.08
Above P3M to P5M 11% 1,300,000.00 27,618.60 17,176.72 13,966.69 12,541.84
Expenses 1,400,000.00 29,743.11 18,498.00 15,041.05 13,506.59
1. Out of pocket expenses of the on TCT 1,500,000.00 31,867.61 19,819.29 16,115.41 14,471.35
appraiser 4. Fire insurance premium for the 1,600,000.00 33,992.12 21,140.57 17,189.77 15,436.11
2. Processing fee (basic admin- first year 1,700,000.00 36,116.63 22,461.86 18,264.13 16,400.86
istration, appraisal and inciden- 5. Interest between releases 1,800,000.00 38,241.14 23,783.14 19,338.49 17,365.62
tal expenses) 6. Interest from date of final re- 1,900,000.00 40,365.64 25,104.43 20,412.85 18,330.38
3. Notarial fee, annotation/regis- lease to effectivity of amortiza- 2,000,000.00 42,490.15 26,425.72 21,487.21 19,295.13
tration (BIR/RD) of mortgage tion 2,500,000.00 53,112.69 33,032.15 26,859.01 24,118.92
3,000,000.00 63,735.23 39,638.57 32,230.81 28,942.70
REAL ESTATE HOUSING LOAN PROGRAM 3,500,000.00 76,105.46 48,220.43 39,789.68 36,136.12
(Acquisition of house & lot or lot only from AFPMBAI subdivision projects) 4,000,000.00 86,977.67 55,109.06 45,473.92 41,298.42
Bacolod Homes Royale, Brgy Alijis, Bacolod City, Negros Occidental 4,500,000.00 97,849.88 61,997.69 51,158.16 46,460.73
Lot price: P2,650 - P3,000/sqm Lot size: 130 sqm - 150 sqm 5,000,000.00 108,722.09 68,886.33 56,842.41 51,623.03