Terms and Conditions
1. Basis of the Insurance Policy
The responses provided in this application, along with the declarations herein, shall serve as the foundation of the Insurance Policy and shall be deemed an integral part thereof.
2. Constituent Elements of the Application
The information supplied in the Cart, Customer Details, and subsequent pages shall constitute the Buyer’s formal Application for Life Insurance.
3. Completion of Application
The Buyer affirms that they personally completed this Application for Life Insurance. If completed by another individual, such person acted under the explicit direction and authority of the Buyer.
4. Accuracy of Disclosures
The Buyer certifies that all information disclosed is true, complete, and accurate...
5. Data Privacy Consent
The Buyer grants consent for the collection, processing, and use of personal data in compliance with Republic Act No. 10173 (Data Privacy Act of 2012). A copy is available at Official Gazette.
6. Processing of Application
The Buyer understands that the processing of the Application for Life Insurance will only commence upon submission of complete and valid documentation.
7. Refund Policy for Unaccepted Applications
If the Application for Life Insurance is not approved, any amount deposited will be refunded...
8. Effectivity of Insurance Coverage
No insurance contract shall be deemed valid and binding until full payment is made and the Life Insurance Policy is formally issued.
9. Policy Cancellation
The Policyholder may cancel the Life Insurance Policy within fifteen (15) days and receive a full refund.
10. Legal Provisions
Article 1250 of the Civil Code of the Philippines concerning inflation or deflation shall not apply in determining liabilities.
11. Liability and Indemnification
The Buyer agrees to indemnify and hold PhilLife, its directors, officers, employees, and representatives harmless from any liabilities arising from the processing of this application.
12. Acknowledgment and Agreement
By clicking “I Agree”, the Buyer confirms they have carefully reviewed and fully understood these terms.