CLIMBS Health and Accident Insurance (CHAIN)

24-Hour Accidental Death & Disablement Insurance

1. Subject:A Risk-Sharing facility for Hospitalization
2. Complete Description of the Product:Contingent Hospital and Accident Insurance (CHAIN)
3. Features of the Product:
   1.  Hospital Income Benefit.  This covers daily hospital benefit of Php 250/day for a maximum of seven (07) days confinement per policy year in excess of twenty-four (24) hours confinement due to sickness or accident per day.
   2.  Accidental Death & Dismemberment.  This covers death and dismemberment equivalent of Php 5,000 for bodily injuries caused by accident.  It indemnifies full principal sum for accidental death, or loss of limits of eyes, hands or all fingers and both thumbs; also, half of the principal sum for accidental loss of one hand, one foot or sight of one eye. **Important Reminder: Losses must occur within one hundred eighty (180) days after the accident.
4. Annual Premium:Php 250
5. Age Requirement:18-64 years old
6. Policy Conditions:
   1.  Fraud.  All benefits under this Policy shall be forfeited if the claim is fraudulent, or if any false declaration is made or used in support, or if any fraudulent means or devices are used by the Insured or any one acting on his behalf, or if the loss or damage happened by the willful act, or with the convenience of the Insured.
   2.  Settlement of the Claim.  The amount of benefit for which the Company may be liable under this Policy shall be paid within ten (10) days after the receipt of complete documents to the Company.  
   3.  Documentation for Claim.  The following documents are required when filing a claim against the Policy:
      • If claiming for Accidental Death Benefit
        • Police /Barangay Accident Report
        • Driver’s License, if accident occurred while insured was driving a vehicle
      • If beneficiary is spouse,
        • Marriage Contract issued by the National Statistics Office (NSO)
      • If beneficiary is a Common Law partner,
        • Certificate of NO Marriage (CENOMAR) issued by the NSO for the Insured, if applicable and
        • Certificate of NO Marriage (CENOMAR) issued by the NSO for the beneficiary, if applicable
        • Affidavit of Two Disinterested parties stating that the insured and the beneficiary are living together as “common law” partners and no legal impediment to marry
      • If beneficiary is minor, who is below eighteen (18) years of age,
        • Birth or Baptismal Certificate of the minor, or
        • In the absence of Birth or Baptismal Certificate, an Affidavit executed by parent or guardian or two (2) disinterested parties
        • For claimants other than the Trustee, an Affidavit of Guardianship executed by the claimant
        • For Claims exceeding Php50,000, a Guardianship Bond or in lieu thereof, the insurance  proceeds for the minor shall be deposited In Trust For (ITF) account in behalf of the minor
      • If place of death is outside the Philippines,
        • Certification from the Philippine Consulate with jurisdiction over the place of death; or
        • Documents allowing the transport of the remains to the Philippines
7.  The coverage of this policy will terminate on the termination date stated in the Policy Schedule.
8. Conformity to Statute:  Where the terms and conditions of the Policy are in conflict with any applicable statues of the Philippines or rules and regulations of the Insurance Commission, such terms and conditions are amended to conform to such statutes.