BASIC LIFE INSURANCE PLAN

Basic Life Insurance Plan is the primary product of SEDP MBA which covers life protection to members and their families on unforeseen event especially during untimely death of member and/or his qualified dependents.
With a minimum of Eighty Pesos (P 80.00) monthly contribution the member can avail of the following benefits:

1. DEATH BENEFIT

Member can avail of Fifty Thousand Pesos (P50,000.00) maximum benefit in the event of natural cause of death and One Hundred Thousand Pesos (P100,000.00) maximum benefit during accidental death.While dependent spouse and parent can avail of Fifteen Thousand (P15,000.00) maximum benefit for natural cause of death and Thirty Thousand Pesos (P30,000.00) for accidental death.Finally, for dependent children and siblings a maximum of Ten Thousand Pesos (P10,000.00) each for natural cause of death and Twenty Thousand Pesos (P20,000.00) in the event of accidental death. (For complete list please see table of benefits)

2. DISABILITY BENEFIT

Disability benefit covers only the member excluding dependents. From a minimum of Ten Thousand Pesos (P10,000.00) to a maximum of Fifty Thousand Pesos (P50,000.00) is provided to members who suffered from Total and Permanent Disability (TPD) during his/her membership with SEDP MBA either through sickness or accidental in nature.

3. LIVING BENEFIT

Fifty Percent (50%) Members Equity Value is reserved from the members contribution intended for refund when membership with SEDP MBA is terminated.
Termination of membership can be any of the following:
1. Upon Death or Total and Permanent Disability of the member
2. Upon Resignation of the member
3. Upon expiration of the 45 days grace period if no payment is received
4. Upon withdrawal of the equity value on the insurance certificate
5. If the member is terminated with cause by SEDP MBA
6. Upon reaching the exit/termination age of 66 years old

4. DAILY HOSPITALIZATION INCOME BENEFIT (DHIB)

A provision of Two Hundred Pesos (P200.00) a day is provided only to member if sickness or injury results in hospital confinement of not less than 12 hours on the first day and up to a maximum of Five (5) days within a year to cover loss of income during his/her confinement.No benefit shall be paid under DHIB for hospital confinement caused by any of the following:

1. Self inflicted injuries
2. Maternity related confinement
3. Drug addiction
4. Continued excessive or compulsive use of alcoholic drinks
5. Declared or undeclared war or civil strife
6. Acts in violation of the law