This is an OPTIONAL PROGRAM.
Payment Period : 10 years
Coverage : up to 100 YEARS OLD
Eligibility : 70 years old and continuing members of the Basic Life Insurance Program [BLIP]. Members shall be entitled to Refund of Contributions and retirement (RSF) Benefit and shall be given the option to enroll to the program.
- Covers the member only (no more legal dependents)
- No more riders (RF, TPD, MVAH)
- No more Waiting (Contestability) Period
- If the member wishes to discontinue the Golden Life Insurance Program, the member has an option to surrender the policy:
- For its Cash Surrender Value, which is at least 50% of the all the paid premiums or
- Convert it to a Reduced Paid-up Insurance.