Dear SESLA Member,
As our Yearly Renewable Term insurance coverage with First Life Financial Co., Inc. will end on December 27, 2025, the Board wishes to announce that our Insurance Program for the period December 28, 2025 to December 27, 2026 will be renewed with the same insurance company. Package includes benefits such as:
- Life Insurance
- Accidental Death, Disablement and Dismemberment Benefit (ADD)
- Total and Permanent Disability Pension Benefit (TPD)
- Burial Benefits
- Unprovoked Murder and Assault (UMA)
- Terminal Illness Benefits (TIB)
- Pay to the insured member an advance equivalent to fifty percent (50%) of the amount of Life Insurance payable upon death under the Group Life policy, or any lesser amount, but not exceeding an aggregate sum of One Million Pesos (P 1,000,000.00), when the insured employee is medically diagnosed as having terminal illness while this benefit and the Group Life Policy to which it is attached are in full force and effect.
- If more than one terminal illness is suffered by the insured employee, the company shall cover only one terminal illness, and the insured employee can avail of this benefit from the company only once in his lifetime.
A. Description of Persons to be Covered
18-65 Years Old
(No Evidence Limit, NEL)
18-65 Years Old
(Enrollees need to submit an Accomplished Statement of Health Form, subject to underwriting process evaluation)
B. Schedule of Benefits
C. Payment Options
Payment of annual premium may be made through the following:
- Check payable to SESLA
- Direct Debit from Capital Contribution (Capcon)
- Direct Deposit to SESLA’s bank account (submit proof of deposit): BDO (00544-800-8980) or Union Bank (0420-3000-1058)
D. Submission Procedures
- Members with outstanding loan balance of Php 50,000.00 and above:
- Automatically enrolled in this annual GTI equivalent to the amount of loan balance at the beginning of each renewal period;
- Premium shall be billed pro-rated based on period covered; and
- Payment options are listed under Item C above.
- Members with total outstanding loan balance of less than P50,000:
- May enroll, at their option, anytime within the insurance period and must submit an Enrollment Form and Group Health Declaration Form (for members 66 -70 years old);
- Premium shall be billed pro-rated based on period covered; and
- Payment options are listed under Item C above.
- Members without loan:
- May enroll, at their option, anytime within the insurance period and must submit an Enrollment Form and Group Health Declaration Form (for members 66 -70 years old);
- Premium shall be billed pro-rated based on period covered;
- Payment options are listed under Item C above.
- Enrollment Form and Statement of Health Declaration Form may be submitted via online at this email address: [email protected]
Insurance Beneficiary and Claims Process
The primary beneficiary designated for this group life insurance plan is SESLA. SESLA is entitled to claim insurance benefits only up to the amount equivalent to the enrollee’s outstanding loan balance with the association.
Should the enrollee fully settle or pay off their loan during the period of insurance coverage, the entitlement to the full insurance benefit automatically transfers to the enrollee’s designated beneficiaries. In this case, upon submission of all required documentary evidence and subsequent approval, the beneficiaries will receive the full insurance coverage amount.