In consideration of the full payment of the Gross Contract Price stated in the Life Plan Application, or stated to be paid by the PLANHOLDER, ST. PETER covenants with the PLANHOLDER, subject to the terms and conditions herein specified, to arrange and pay for the service of ST. PETER's memorial servicing tie-up, to the exclusion of any other mortuary, to conduct or cause the conduct of the funeral/memorial services and to furnish or cause the furnishing of the casket and other facilities for the final rites and memorial services of the PLANHOLDER or his/her assigns in the Republic of the Philippines, as indicated in this Contract, provided that said services are rendered within a road distance of twenty-five (25) kilometers from the servicing mortuary and for a maximum viewing period of four (4) days (subject to the limitations in Article II, A No. 18 hereof). In arranging and providing for the services of the mortuary, ST. PETER will provide to the PLANHOLDER or his/her assigns, the following services.
Response to first call upon death
Embalming, dressing and preparation of the body for viewing
Viewing of the body
Any of the above-mentioned services provided for by the accredited mortuary which prepared the body shall be covered by this Contract. All other services requested by the PLANHOLDER's and/or assignee's family and performed by other mortuaries shall be for the account of the family.
All other services outside of the aforementioned enumerated services from 1 to 22 shall be for the account of the PLANHOLDER's and/or assignee's family.
It is understood and agreed that upon actual need, time is of the essence, therefore, it is the responsibility of the PLANHOLDER, his lawful heirs, successors or assigns to give immediate notification in person, or by telephone, directly to and acknowledged by ST. PETER or its duly authorized representatives for the latter to make said arrangements.
ST. PETER shall have the sole and exclusive right to make all negotiations and necessary arrangements with a memorial servicing tie-up of its choice in connection with the memorial services provided for in this Contract. If the PLANHOLDER's family will negotiate directly with another mortuary for the rendition of memorial services, the plan will be considered unrendered in accordance with the provision on Unrendered Services in Article VII of this Contract.
For the protection and by way of assistance to the PLANHOLDER and/or his/her family or beneficiary, ST. PETER shall maintain the following coverages, generally on a non-medical basis, provided the PLANHOLDER is within the insurable ages of 18 to 60 years (not beyond his/her 60th birthday) at the time of purchase of the plan.
If the PLANHOLDER dies at any time within the paying period and while this plan is still in force, the unpaid balance of the Gross Contract Price shall be deemed paid, subject to the limitations provided for in the master policy between ST. PETER and the insuring company.
If the PLANHOLDER dies at any time within the paying period and while the plan is still in force, the beneficiary of the PLANHOLDER, subject to all the conditions and limitations provided for in the master policy between ST. PETER and the insuring company, shall be entitled to a cash assistance equivalent to the Contract Price less the processing fee.
If the PLANHOLDER dies at any time within the paying period, and while this plan is still in force, the PLANHOLDER, between 18-55 years old (not beyond his/her 55th birthday) at the time of purchase of the plan, shall be indemnified for accidental loss of life, limbs and sight as a direct result of bodily injury effected solely through external and violent means sustained in an accident, provided that such loss(es) are incurred within 180 days from the date of the accident for the loss(es) to be compensable. After due proof is received within 90 days after sustaining such injury, the PLANHOLDER shall be indemnified as follows:
The PLANHOLDER is exempted from paying the installment if he/she will become disabled and such disability continues uninterruptedly for a period of at least six (6) months.
Upon death of the PLANHOLDER within five (5) years after full payment of the plan or up to his/her 65th birthday, whichever comes first, a CASH ASSISTANCE, equivalent to the Contract Price less the processing fee, shall be provided the beneficiary. In case of spot cash purchase, the extended cash assistance shall be for ten (10) years from effectivity date or up to the PLANHOLDER'S 65th birthday, whichever comes first.
In consideration of the full payment of the Gross Contract Price, ST. PETER guarantees that the memorial service purchased by the PLANHOLDER shall be performed and delivered by the designated memorial servicing tie-up at the time it is needed by the PLANHOLDER, subject to all the conditions herein provided for (subject to the limitations in Article II, A No. 18 hereof), and the submission of the pertinent contract and other necessary documents to the branch office concerned.
The plan cannot be used within 30 days from effectivity or date of reinstatement.
The parties herein expressly agree that ST. PETER shall not be liable for any inconvenience, loss, damage or delay that may be sustained by the PLANHOLDER, his/her lawful heirs or assigns, resulting from fire, earthquake, war or civil disturbance, extraordinary economic upheavals, strikes, or any labor disputes, government legislation or regulations, acts of God, or such other fortuitous events or conditions beyond the control of ST. PETER in connection with the performance of the services and obligations under this Contract. However, the unrendered service provision in Article VII shall still apply.
In the event that any of the causes mentioned in Article VI should occur thereby preventing ST. PETER from performing the memorial services herein contracted for, ST. PETER agrees to return to the PLANHOLDER's beneficiaries, lawful heirs, assigns or successors an amount equivalent to the appropriate amount stated in the Table of Termination Values provided in Article XIV. Thereafter, ST. PETER shall be relieved and discharged of all and any financial liabilities and obligations and the plan shall be automatically cancelled. However, the PLANHOLDER's beneficiaries, lawful heirs, assigns or successors may opt to retain and continue the plan and be entitled to the memorial services for future use.
A. The privileges and benefits of the memorial services described herein may be assigned to any deceased third person, subject to the following conditions:
B. The PLANHOLDER may also transfer his/her rights and privileges under this Contract to another living person at the time of the transfer. However, the transfer shall be in writing and with the written conformity of the transferee who shall be required to qualify therefore as a new PLANHOLDER (as regards insurability), and delivered to ST. PETER for approval. A new contract will be issued to the new PLANHOLDER. The transfer may be made only after thirty (30) days from the effectivity date (or date of last reinstatement) of the plan, provided it is up-to-date at the time of transfer. Any insurance coverage provided herein to the transferor shall automatically terminate.
A plan which has lapsed for more than two (2) years becomes automatically terminated and cancelled and therefore cannot be transferred or assigned.
ST. PETER is not bound by any transfer of this Contract if it is not recorded and approved at ST. PETER's Head Office or any of its authorized branch offices. ST. PETER cannot be responsible for the validity or effect of such transfer. The transfer shall be effective only upon the approval of ST. PETER, payment of the transfer fee and the issuance of a new Contract to the new PLANHOLDER.
When the memorial services contracted for are requested to be rendered in a locality where such services are not available, the PLANHOLDER, his/her beneficiaries, lawful heirs or assigns, agree and hereby authorize ST. PETER to make a reasonable adjustment and/or substitution which shall in no case be less than what was guaranteed by ST. PETER and at no additional cost to the family of the PLANHOLDER.
In consideration of the memorial services and other terms stipulated herein, the PLANHOLDER shall pay the Gross Contract Price in the manner stated in this Contract. Payments due shall be paid to ST. PETER at its principal office, or at any of its designated offices and/or to duly authorized persons as ST. PETER may designate in writing from time to time without the need of notice or demand. ST. PETER only honors payments acknowledged by its official receipts. If a PLANHOLDER, who is not qualified under Credit Life Insurance Coverage, as provided under Article IV(A), dies before full payment of the Gross Contract Price, the unpaid balance shall automatically become due and demandable and must be fully paid before the memorial service can be rendered.
The PLANHOLDER is given a grace period of sixty (60) days from the due date of the first unpaid installment in default within which to pay the accrued installments due, and if it is not paid after said period, this Contract shall lapse.
If the plan becomes delinquent beyond the grace period despite written notice that the plan shall lapse if no payment is made within the grace period, then this Contract shall ipso facto be considered automatically lapsed and without force or effect. However, the PLANHOLDER may reinstate his/her plan in accordance with Article XII hereof. A lapsed plan of a deceased planholder can no longer be reinstated.
The PLANHOLDER has two (2) years from the end of the grace period within which to reinstate the plan. If no reinstatement is made before the end of the reinstatement period despite written notice that the plan shall be terminated if not reinstated within the said period, the plan shall be automatically cancelled and all payments shall be forfeited as liquidated damages. The PLANHOLDER may apply for reinstatement by first filing an application for reinstatement in the standard company form for approval and paying the reinstatement fee. Reinstatement may be done through REDATING, which refers to payment of one (1) current installment based on the prevailing price, terms and conditions. The effectivity date of this Contract is adjusted by the number of months lapsed.
If the PLANHOLDER is still insurable, the contestability period starts anew for a period of one (1) year from date of approval of the request for reinstatement described above. If the PLANHOLDER is no longer insurable, he/she may opt to continue paying the Plan without any insurance coverage.
Payment made after this Contract has lapsed without submitting an application for reinstatement will only be treated as a deposit, and will be applied to reduce the outstanding balance of the Gross Contract Price of the Plan in case this Contract is eventually reinstated. Otherwise, the liability of ST. PETER shall be limited only to the return of such payments to the PLANHOLDER.
ST. PETER shall deposit with a Trustee Bank all amounts required by the Insurance Commission for the exclusive payment of the memorial services contracted for by the PLANHOLDER. The trust fund shall be administered and maintained in accordance with the trust agreement and the Pre-Need Code.
This plan may be terminated and the PLANHOLDER may receive termination value in two (2) instances provided that the plan is not lapsed:
(a) When the PLANHOLDER's beneficiaries or lawful heirs choose to receive the termination value of the plan in case of "Unrendered Service" for an amount in accordance with the Table of Termination Values attached herewith, or
(b) When the PLANHOLDER chooses to surrender his/her contract by written notice or application for the termination value of the plan, if any, in accordance with the Table of Termination Values attached hereto.
Any installment received by ST. PETER after termination of this Contract, shall be refunded to the PLANHOLDER and shall not create any liability on ST. PETER.
After the Plan Termination Value has been paid, ST. PETER shall be discharged from any liability or obligation in this Contract.
The Gross Contract Price stated in this Contract does not include any tax or fee which any law or regulation may impose in the future. Such taxes or fees shall be for the account of and paid by the PLANHOLDER as may be required by law. If during the effectivity of this Contract the value of the Memorial Service Benefit is subjected to any tax or fee, the said tax or fee will be charged to the PLANHOLDER or his/her estate.
This Contract shall be binding upon and inure to the benefit of the parties and their respective successors and assigns. Should there be a change of ownership in the operation of ST. PETER, whether by sale, assignment, operation of law or otherwise, during the effectivity of the terms of this Contract, ST. PETER's successors-in-interest shall be bound by the terms of this Contract and the PLANHOLDER shall be entitled to the benefits arising therefrom.
The PLANHOLDER, by entering into this Contract, hereby applies for the benefits and to the other coverages aforementioned in accordance with the terms and conditions provided for in the preceding paragraphs and warrants that he/she is not less than eighteen (18) nor more than sixty (60) years of age (not beyond his/her 60th birthday) and that to the best of his/her knowledge, he/she is in good health on the date of the effectivity of this Contract. He/she further warrants that the information and statements made and contained in his/her Life Plan Application are true and correct.
If death occurs within the contestability period of one (1) year, as defined in Art. XVIII, infra, the PLANHOLDER agrees and binds his/her lawful heirs or assigns to deposit with ST. PETER, an amount equivalent to the unpaid balance of the plan, which deposit shall be refunded to said lawful heirs or assigns upon approval of the claims due them in accordance with the provision of this Contract.
In the event that claims arising from the above-mentioned benefits and coverages are subsequently denied after the stipulated memorial services shall have been rendered by ST. PETER, the unpaid balance of the plan shall become due and demandable in full to ST. PÉTER and in such case, the deposited amount shall be applied in payment for the said unpaid balance.
The contestability period for any of the above insurance benefits, including the representations made by the PLANHOLDER in his/her declaration, shall be one (1) year from the effectivity date of this Contract or from date of last reinstatement or from date of transfer, in case of transfer of the plan to an insurable person.
The period for filing of claims with ST. PETER by the PLANHOLDER's beneficiary shall be six (6) months from the date of death of the PLANHOLDER.
Failure to submit the written notice and proof of claim within the time limit shall not invalidate nor reduce any insurance claim if it shall be shown not to have been reasonably possible and was submitted as soon as reasonably possible.
No legal action under this Contract may be filed after five (5) years from the time the cause of action accrues.
This Contract, together with the application, rider, endorsements and all annexes duly signed by any authorized officer shall constitute the entire contract. No statement, promise or inducement made by any person or through any agent, employee or representative not contained herein shall be binding or valid.
This Contract may not be amended, endorsed or otherwise changed except through a written document signed by the President or other officers duly authorized by ST. PETER at the time of the amendment. Any such amendment or modification must be made in writing and submitted to the Insurance Commission for prior approval.
(NOTE: ARTICLES IV, XVII, XVIII, AND XIX, ARE APPLICABLE FOR INSURABLE PLANHOLDERS ONLY)
The Insurance Commission shall have the primary and exclusive power to adjudicate any and all claims involving pre-need plans. If the amount of benefits does not exceed One Hundred Thousand Pesos (P100,000.00), the decision of the Insurance Commission shall be final and executory.
The Insurance Commission, with offices in Manila, Cebu and Davao, is the government office in charge of the enforcement of all laws related to pre-need plans and has supervision over pre-need companies and intermediaries. It is ready at all times to assist the general public in matters related to pre-need. For any inquiries or complaints, you may approach the Public Assistance and Mediation Division (PAMD) at the Insurance Commission's Head Office located at 1071 United Nations Avenue, Ermita Manila with telephone numbers +632 8 523 8461 to 70 or email at email@example.com. The official website of the Insurance Commission is www.insurance.gov.ph.