Caritas Financial Plans-Monumento-Camanava

A Disciplined Savings Program!

• You save for only 5 years and your contributions are scheduled either in annual, semi-annual, quarterly or monthly installments, depending on your chosen payment mode.

• A variety of program options and plan variants to fit your financial planning needs.

Fixed and Pre-Determined PENSION BENEFIT Upon Maturity!

• The guaranteed amount of Pension Maturity Benefit is focused yet flexible for a variety of purposes – you can use it to pay for your future travels, your children’s or grandchildren’s education, or other interests that you may wish to pursue during your retirement years.

• Upon maturity date, your Pension Maturity Benefit shall become due and may be availed thru any of the following:

• Lump Sum Payment – Upon maturity, you may chose to receive your Pension Maturity Benefit in one-time payment as full and final settlement of your plan.

  Periodic Payment of Interest – You may choose to leave your Pension Maturity Benefit and receive it’s interest earnings on a regular basis, computed at the duly agreed upon and guaranteed interest rate, subject to the then prevailing savings deposit interest rate at the time of maturity. At any time during the period of availment, you may opt to receive the full amount of the Pension Maturity Benefit as full and final settlement of your plan.

  Partial Withdrawal – Upon maturity, you may withdraw any portion of the Pension Maturity Benefit and subject the remaining amount to the then prevailing savings deposit interest rate at the time of maturity.

  Others – Any other kind of settlement which you may wish to arrange with Caritas Financial Plans.

Enhanced Options for ADDED FINANCIAL PROTECTION

The Fund Provider Mabuhay may be subscribed in 3 plan variants:

• FUND PROVIDER CLASSIC will provide you the Pension Maturity Benefit and the basic protection of the Credit Life Insurance and Total Disability Benefit.

• FUND PROVIDER ULTIMA will further provide a Longevity Benefit and the extra protection of a Term Life Insurance along with the benefits under the Fund Provider Classic.

• FUND PROVIDER ULTIMA PLUS will likewise provide the basic benefits featured under the Fund Provider Classic, plus the Term Life Insurance coverage and an increased Longevity Benefit.

Guaranteed CASH BENEFIT

• NON FORFEITURE OF CONTRIBUTIONS – In the event that a lapsed plan remains unreinstated after the prescribed reinstatement period, the plan will not be cancelled and you will still be entitled to cash benefit upon maturity date amounting to the total plan credits plus interest of 2% per annum computed from the last unpaid due date until maturity.

• TERMINATION VALUES – Should you decide to discontinue your plan while it is in force, you may surrender and request termination of the plan and be entitled to termination values as approved by the Insurance Commission.

Value-added INSURANCE COVERAGE

If you are 10 to 60 years of age and in good health, you will be covered AT NO EXTRA COST with the following:

• CREDIT LIFE INSURANCE that will fully pay your plan should you pass away during the paying period but before reaching age 70. Your beneficiary will enjoy the Pension Maturity Benefit of your plan upon maturity.

• TOTAL DISABILITY BENEFIT that will likewise fully pay your plan should you become permanently and totally disabled during the paying period but before your 60th birthday.

• TERM LIFE INSURANCE. If you subscribed to the ULTIMA and ULTIMA PLUS variants of the FUND PROVIDER, you will further be covered with Term Life Insurance in case of death prior to the maturity date but before your 70th birthday. Your beneficiary will be entitled to an amount equal to the Contract Price.

Other Features

• TRUST FUND

• From the planholder’s contributions, Caritas Financial Plans, Inc. maintains a Trust Fund for the exclusive purpose of discharging its obligation to its planholders as provided for in the pre-need plans subscribed. The Trust Fund is administered by a Trustee in accordance with the provisions of the Pre-Need Code of the Philippines.

• To monitor the performance of the Trust Fund and the solvency of Caritas Financial Plans, Inc., actuarial valuation reports and audited financial statements are regularly submitted to the Insurance Commission.

• NO MEDICAL EXAMINATIONS REQUIRED – Insurance coverage shall be on a “no medical examination” basis up to a maximum of Php 1,500,000.00.

• INCONTESTABILITY – Death or disability claims can no longer be contested after the plan has remained in force for an uninterrupted period of one (1) year from its effective date or date of last reinstatement.

• GRACE PERIOD – The plan shall remain in force even after failure to settle any installment upon its due date within sixty (60) days from such date of default, only after which the plan shall be rendered lapsed and without force and effect.

• REINSTATEMENT – A lapsed plan may be reinstated by updating or redating within two (2) years from date of lapsation.

• TRANSFERABILITY – While the plan is in force, you may transfer all rights and privileges under the Agreement to another person as the new planholder.

   

   

   

   

   

   

   

   

   

PENSION BENEFITS