FORMS & FAQ

LIFE INSURANCE FAQs


We have compiled a list of Frequently Asked Questions below. 

Can’t find the answer to your question?  Contact us and we'll be happy to help.

Keeping Your Policy Inforce FAQ

DOES PARAMOUNT LIFE SEND PREMIUM NOTICES?

Yes, You will receive 4 different types of Premium Notices:

  1. First Notice - sent 37 days before due date. You can pay your premium within the 31-day grace period.
  2. Second (Reminder) Notice - sent 7 days after due date if the premium remains unpaid.
  3. Overdue Notice - sent when the grace period expires, or 32 days after due date if the premium remains unpaid.
  4. Lapse Notice - sent 45 days after due date with reinstatement offer.
HOW AND WHERE CAN I PAY MY PREMIUM?

We want to make paying your premiums as easy and as convenient as possible. That’s why we have given you several choices on how you can pay for your premiums. Choose the one that is most convenient for you!

  1. Our Head Office Cashier located at the Ground Floor, Sage house, 110 V.A. Rufino St. Legaspi Village, Makati City or through our branch offices nationwide.
  2. Our duly authorized collecting banks: BDO, Unionbank & Metrobank
  3. Accredited Payment Centers: SM Payment Counters, LBC (Bills ‘Xpress Payment), Bayad Centers
  4. Bancnet Automated Teller Machines (ATM)
  5. BPI’s Bills Payment Facility. If you are a BPI accountholder, just enroll in this facility. Once enrolled, payments can be made through: ATM, express phone 89-100, internet, or just log on to www.bpiexpressonline.com
  6. VISA or Mastercard (Pre-enrollment required, contact our Policy Service Dept.)
  7. Auto-Debit Arrangement (must be a BPI, BDO, UCPB or Metrobank Accountholder, pre-enrollment required, contact our Policy Service Dept.)
  8. Checks payable to Paramount Life & General Insurance Corporation.
  9. Your Servicing Agent/LifePlanning Partner (always ask for Provisional Receipt)
HOW CAN I APPLY FOR REINSTATEMENT IN CASE MY POLICY LAPSES?

Reinstatement means putting the policy back in force. Policies may be reinstated within three (3) years from the date it lapsed. It is conditioned by presentation of evidence of insurability satisfactory to the company and payment of premium/s in arrears plus interest.

Note: Reinstatement of the policy shall not be effective until the company approves such application for reinstatement.

HOW CAN I GET THE PRESENT STATUS OF MY POLICY?
  1. Through your servicing agent/LifePlanning Partner or you may simply call our Policy Service Dept. at +632 772-9200 locals 1092, 1097 or 1056 (within Metro Manila) or toll-free 1800-1888-8777 (outside Metro Manila).
  2. Short Messaging Service (SMS). By enrolling your mobile phone number with Paramount Life you will be able to make self-service inquiries via text. We can remind you of your premium dues so you don’t miss that important premium payment and ensure uninterrupted insurance protection. You can request via text for your policy’s cash value, amount of premium due, last payment made, premium deposit fund balance and request latest billing or statement of account.

You can enroll in this facility by simply typing the following information on your mobile phone:

PHLIFEYour 9-digit Policy NumberYour birthdate (mo/day/year)
EX. PHLIFE 000012340 02141970 and send to: +63 (917) 890 7842

Once we receive your text message (example, PHLIFE 000012340 02141970), you will immediately receive a text confirmation that your cell phone has been enrolled. If you change your cell phone number in the future, follow the same procedure using your new cell phone number.

To inquire via text, simply type LIFEQyour query or request then send to +63 (917) 890 7842

EX. LIFEQ When is the payment due date for my policy?

Policy Changes FAQ

WHAT ARE THE TYPES OF CHANGES IN MY POLICY AND HOW CAN I MAKE THESE CHANGES?

There are 7 types of changes that you can make on your policy.

  1. Change of Name
    Requirements:
    • Photocopy of marriage contract for female policyholders who changed status.
    • Affidavit attesting that both names refer to one and the same person if the change is due to usage.
    • 2 copies of Request for Amendment forms.
    • Policy Contract
  2. Change Of Beneficiary

    Requirements:

    • 2 copies of Request for Amendment forms signed by both policyowner and primary irrevocable beneficiary/ies, if any
  3. Amendments Or Changes In The Policy (Insurance Plan, Face Amount, Rider Addition/deletion)

    Requirements:

    • 2 copies of Request for Amendment forms.indicating the desired policy changes.
    • Policy Contract.
    • Pay the balance of premium due (if any)
    • Submit a Health Statement or a Full Medical Examination, as required.
  4. Correction of date of birth and age

    Requirements:

    • 2 copies of Request for Amendment forms.
    • Certified true copy of Birth Certificate
    • Policy Contract
    • Pay balance of premium if age is determined as older than previous declaration.
  5. Change in the mode of payment

    Requirements:

    • 2 copies of Request for Amendment forms.
  6. Change in the mailing address / contact details (residence phone/mobile numbers, or e-mail address)

    Requirements:

    • Write your correct/ current address/ contact details on the right portion of the Premium Notice or write to us a letter with your full name, policy no. and correct /current address/contact details and send to:
      Policy Service Department
      Paramount Life and General Insurance Corporation
      Ground Floor, Sage House
      110 V.A. Rufino St., Legaspi Village, 1229 Makati City
  7. Change of ownership

    Requirements:

    • 2 copies of Request for Policy Amendment forms signed by the original owner, if living, the transferee (new owner) and the primary irrevocable beneficiaries, if any
    • If a corporation has been designated as owner, a board resolution attesting to the corporation’s consent and specifying their authorized representative to any future policy transactions.
    • Photocopy of death certificate if the original owner is no longer living.
    • Policy Contract
HOW DO MY DESIGNATED BENEFICIARIES PARTICIPATE ON MY POLICY/IES?

The primary beneficiary designated on the policy shall receive the proceeds of insurance coverage in the event of death of the life insured. In the event of the death of the primary beneficiary, the contingent beneficiary, if any, receives the proceeds.

If the primary beneficiary is designated as irrevocable, he becomes part owner of the policy. This means his consent is required for all policy-related transactions and changes effected on the policy such as in insurance plan, face amount, supplemental benefits, beneficiaries and non-forfeiture options. Death claim proceeds on policies with an irrevocable beneficiary are tax-free.

HOW DO I ASSIGN MY POLICY AS COLLATERAL SECURITY?

Requirements:

  • 2 copies of Request for Amendments
  • Deed of Assignment forms duly signed by the policyowner, Assignee and irrevocable beneficiary/ies, if any. If the assignee is an institution (e.g bank/company) the signatory should be the authorized bank/company signatory. A corporate Secretary's Certificate attesting to the authority of the signatory should also be submitted.
  • Policy Contract
HOW DO I RELEASE THE ASSIGNMENT AS COLLATERAL SECURITY?

Requirements:

  • Cancellation of Assignment duly signed by the Assignee. If the assignee is an institution (e.g bank/company) the signatory should be the authorized bank/company signatory. A corporate Secretary's Certificate attesting to the authority of the signatory to release the assignment of the policy should be submitted together with the form; OR
  • A Certificate from the bank/company attesting that the insured is already free from any indebtedness.
  • Policy Contract
HOW DO I REPLACE A LOST POLICY CONTRACT?

Requirements:

  • Duly notarized Affidavit of Loss
  • Payment of Policy Reissue Fee

Policy Dividends FAQ

WHAT IS A POLICY DIVIDEND?

A policy dividend is an amount of money returned to the holder of a participating policy. The money is a partial refund of the premium paid. Dividends however are not guaranteed.

WHAT ARE THE DIFFERENT TYPES OF DIVIDEND OPTIONS?
  1. Cash - Under this option, a check is sent directly to your address on record for the amount of the dividend on the policy anniversary.
  2. Premium Reduction - Under this option, the dividend is applied to your policy's premiums due for the current year. If the application is not enough to pay the full premium, you will receive a bill for the difference. If the dividend exceeds the amount of premiums due, check will be sent to you for the amount of the remaining dividend. No dividend will be left on the policy to accumulate.
  3. Paid-up Addition - Under this option, the annual dividend available is used as a net single premium to purchase additional insurance coverage on the life of the insured. The additional insurance provides greater death benefit and provides cash value.
  4. Dividend Accumulation - Under this option, the dividend is left with the Company, where it will accumulate and earn annual interest. The rate of dividend accumulation is declared at the same time that the Company declares the dividend scale each year. You may change your dividend option at any time as long as the policy is in force and the new option is available to your policy.
WHAT IS A NON-FORFEITURE OPTION (NFO)?

An option available when the cash value earned by the policy can be used to continue the life insurance coverage even if the premium remains unpaid beyond the grace period.

WHAT ARE THE TYPES OF NFO?
  • Extended Term Insurance (ETI) - This option uses the cash value to buy term insurance in the amount of the original face amount, less any indebtedness. The coverage expiry date depends on the amount of the cash value but the coverage never goes beyond the policy’s original maturity date. All supplemental benefits are cancelled.
  • Reduced Paid-up (RPU) - This option uses the cash value to buy permanent life insurance for a reduced face amount. The cash value is used as a net single premium to purchase a paid-up coverage with the same maturity date as the original coverage. All supplemental benefits are cancelled.
  • Automatic Premium Loan (APL)- A loan is automatically charged to your policy when your premium due remains unpaid beyond the grace period, as long as there is sufficient cash value to fully pay the premium.
  • Cash Surrender - If the policy is surrendered for cash, the cash value of the policy less any indebtedness is paid to the policyowner. The contract of insurance is then terminated.

    Requirements:

    • Deed of Surrender / Request for Termination of Insurance Policy Form - the form should be signed by the policyowner and the primary irrevocable beneficiary/ies, if any.
    • Policy Contract
    • IDs with photo and signature
    • Signature Form – if signature has changed over time
  • Policy Loan FAQ

    HOW DO I APPLY FOR A POLICY LOAN?

    If the policy has cash value, and has continuously been in force and not converted to a Reduced Paid-Up or Extended Term Insurance, the policyowner has the right to establish a loan against the cash value of the policy, at an interest rate of 10% per annum and 8% per annum for peso and dollar policies respectively, effective July 1, 2006.

    Requirements:

    • Policy Loan Agreement Form - the form should be signed by the policyowner and the primary irrevocable beneficiary/ies, if any.
    • Policy Contract
    • IDs with photo and signature
    • Signature Form – if signature has changed over time
    HOW DO I REPAY MY LOAN?

    Policy loan can be paid at any time in lumpsum or in any installment amount most convenient to the policyowner until the loan is fully paid. The loan plus interest is indicated on the premium notice during the policy anniversary.

    A Policy Loan Repayment Schedule may also be provided to you upon request. You may call or write our Policy Service Dept. to assist you on this.

    WHAT WILL HAPPEN TO MY POLICY IF I DON'T PAY MY POLICY LOAN?

    If the policy loan is not paid, it will bear interest at a specified rate per annum. Both loan and interest will become a new loan on the Policy Anniversary. Non-payment of the policy loan may endanger your policy from possible lapsation should the cash value becomes exhausted.

    Premium Deposit Fund FAQ

    WHAT IS A PREMIUM DEPOSIT FUND (PDF) OR FLEXIBLE DEPOSIT FUND (FDF)?
    • It is a non-participating rider that allows the policyowner to make “advance payments” through deposits to the fund. It is a ready capital that can be used to pay premium due.
    • Initial and subsequent deposits made to this fund should not be less than Php1,000.00
    • The initial deposit to the fund will be credited with a guaranteed rate for the first policy year. Any additions to the fund within the same policy year and henceforth will be subject to prevailing rate as the company may declare.
    • The interest rate credited to the fund shall not fall below what the top three commercial banks in the Philippines, on the average, pay on its regular savings deposit with the same currency as the policy.
    • The PDF shall be used only to pay a modal premium remaining unpaid as of the end of the grace period provided the fund is sufficient to pay such premium in full.
    • When the remaining amount in this fund is insufficient to pay the modal premium, the fund balance if below Php1,000.00, will be paid to the policyowner and the APL or other non-forfeiture option, if any, shall apply.
    • Paramount Life shall send an Annual Statement showing the current balance and movements of the fund.
    CAN I WITHDRAW FROM MY PDF OR FDF?

    Withdrawals from the fund may be made anytime but limited to four (4) withdrawals per policy year. At least P1,000.00 per withdrawal can be made. Withdrawals within the policy year in excess of four (4) will be subject to an administrative fee of P250.00.

    Requirements:

    • Withdrawal form signed by the Policyowner
    • IDs with photo and signature
    • Signature form, as needed

    Maturity Benefit FAQ

    HOW CAN I CLAIM MY MATURITY BENEFIT?

    Upon receipt of the notification of your maturity benefit, you have to comply with the following requirements:

    • Settlement Deed form signed by the Policyowner
    • IDs with photo and signature
    • Signature form, as needed
    • Policy Contract

    Universal Life FAQ

    HOW DOES UNIVERSAL LIFE DIFFER FROM OTHER PRODUCTS IN THE MARKET?

    Universal Life gives you the flexibility and earning potential that no traditional product in the market can match. It allows you to make deposits to a fund deposits to a (CASH VALUE), which will pay for your insurance and earn monthly interest for your money at the same time! You don't have to worry about fixed premiums or scheduled premium due dates- you can pay any amount at your convenience and your policy will remain in force as long as you have enough fund to support your insurance. You can also design your own savings and insurance coverage by modifying your death benefit. And all these: interest, insurance cost, and other charges will be disclosed to you, so you know exactly how your money is allocated and how much it is earning.

    WHAT TYPE OF INSURANCE DOES UNIVERSAL LIFE OFFER?

    Universal Life offers a whole life coverage until age 100.

    IS THERE A MINIMUM PREMIUM REQUIREMENT?

    Yes. The annual premium for your policy should be at least Ps.9,000.00.

    WHERE DOES MY MONEY GO?

    Each Universal Life Policy comes with a built in fund called CASH VALUE where all your premium deposits are placed. All charges and insurance cost will be debited from this fund, and the fund balance is credited with interest every month.

    WHAT ABOUT MY INSURANCE?

    Your initial coverage, called SPECIFIED AMOUNT, must be at least Ps. 300,000.00. You may decrease this amount by at most 20% once per year after the third year, as long as it does not go below the minimum specified amount shown in the policy schedule page.

    WHAT DEATH BENEFIT WILL MY BENEFICIARY RECEIVE? – THE CASH VALUE OR THE SPECIFIED AMOUNT?

    You have two options (A or B) to choose from as far as Death Benefits are concerned. For Option A, your beneficiaries will receive the greater of the SPECIFIED AMOUNT or the CASH VALUE. For Option B, your beneficiaries will receive the SPECIFIED AMOUNT plus the CASH VALUE.

    You may shift from one option to the next once a year.

    WILL I STILL RECEIVE PREMIUM NOTICES?

    Yes. You will still receive premium notices depending on the chosen mode of payment. But this serves only as a reminder that the proposed premium is such, and in no way constrains the premium flexibility and premium convenience built in the product.

    HOW MUCH INTEREST WILL MY CASH VALUE EARN?

    The current annual interest rate is 4% and is credited as earned on a monthly basis. Though the interest rate is not guaranteed and may change from time to time, it will never be below the average credit to regular savings deposit of the top three banks in the Philippines.

    WHAT DO I GET IF I SURRENDER MY POLICY?

    If you surrender your policy, we will give you the NET SURRENDER VALUE of your policy. The NET SURRENDER VALUE is equal to the CASH VALUE less any loans and surrender charges. Surrender charges apply only to policies withdrawn within the first 15 years.

    CAN I WITHDRAW FROM THE CASH VALUE?

    Yes. Withdrawals can be made from the CASH VALUE after the first year. The amount of withdrawal may be up to 10% of the NET SURRENDER VALUE.

    CAN I GET A LOAN FROM THE CASH VALUE?

    Yes. Loans can be made from the CASH VALUE after the first year. The loan amount should be less than the NET SURRENDER VALUE and interest from loans are advanced.

    HOW CAN I MONITOR THE CASH VALUE ACCUMULATION?

    You will be sent an ANNUAL REPORT every policy anniversary. This will disclose all necessary information on your policy and fund, including balance, interest, charges, loans and withdrawals made. You may also visit or call Paramount Life and Gen. Insurance Corporation’s Head Office for an update. A request for a printed copy at any time other than the policy anniversary will be charged a nominal fee.

    WHERE CAN I PAY MY PREMIUMS?

    Payment Options for Universal Life are the same with our other Individual Insurance Plans.

    WHAT WILL HAPPEN IF I STOP PAYING PREMIUMS?

    As long as your NET SURRENDER VALUE can cover the charges due, your policy will remain in force. Further, your policy has a conditional No Lapse Guarantee.

    WHAT IS THE NO LAPSE GUARANTEE?

    The No Lapse Guarantee assures you that your policy will remain in force until the No Lapse Date if certain conditions are met.

    WHAT CONDITIONS SHOULD BE MET FOR THE NO LAPSE GUARANTEE TO TAKE EFFECT?

    Within five years after the policy issue, the No Lapse Guarantee will be applicable if your total deposits to the fund (less any loans and withdrawals and disregarding interest) is at least equal to your Minimum Monthly Guaranteed Premium (MMGP) times the number of months since issue.

    WHAT IS MY MINIMUM GUARANTEED PREMIUM?

    Your Minimum Monthly Guaranteed Premium (MMGP) is determined by Paramount Life based on your premium, risk classification, and rider attachments. The MMGP is used in determining whether the No Lapse Guarantee will be applicable. Your premium notice will be at least equal to your MMGP.

    WHAT HAPPENS IF MY NET SURRENDER VALUE CANNOT COVER THE CHARGES DUE AND THE NO LAPSE GUARANTEE CONDITION IS NOT MET?

    If your NET SURRENDER VALUE cannot cover the charges due and the No Lapse Guarantee is not applicable, then you will be notified and given a 61-day Grace Period in which to deposit an amount necessary to keep your policy in force.

    WHAT HAPPENS AFTER THE GRACE PERIOD?

    If your NET SURRENDER VALUE cannot cover the charges due and the No Lapse Guarantee is not applicable, then you will be notified and given a 61-day Grace Period in which to deposit an amount necessary to keep your policy in force.

    CAN I REINSTATE MY LAPSED POLICY?

    Yes. A lapsed Universal Life Policy can be reinstated within five (5) years after the date of lapse.

    HOW OFTEN ARE CHARGES MADE TO MY CASH VALUE?

    Charges are deducted monthly from your CASH VALUE.

    WHAT CHARGES ARE DEDUCTED FROM MY CASH VALUE?

    Since the Universal Life Policy is unbundled, the separate components that make up the monthly charges are shown. These include administrative charges, loading, cost of insurance, a one time issue charge any charges for decreases in the Specified Amount, and charges for rider attachments.

    WHAT RIDERS CAN I ATTACH TO MY POLICY?

    Aside from the Accidental Death Benefit and Waiver of Premium riders, you can attach other riders as additional insurance for your family. These include Other Insurance Rider for your spouse or siblings above 18 years of age, the Children’s Insurance Rider for your children of siblings aged 18 and below, and the Primary Insured Rider, as extra protection for yourself.

    HOW DOES UNIVERSAL LIFE COMPARE WITH PRIME TERM WITH PDF?

    Universal Life and Prime Term with PDF are actually complimentary. The Universal Life Policy is structured to give long term benefits with higher pay-off in later years, while Prime Term with PDF, gives you liquidity for your immediate needs.

    Note: Please refer to the actual insurance policy contract’s provisions for a full explanation of the benefits.

    NON-LIFE INSURANCE FAQs


    We have compiled a list of Frequently Asked Questions below. 

    Can’t find the answer to your question?  Contact us and we will be happy to help.

    Motor Insurance FAQ

    WILL MY PREMIUM INCREASE IF I FILE INSURANCE CLAIMS?

    One insurance claim will probably not affect the rate but will surely increase / adjust the premium.

    WHY DID MY RATE CHANGE AFTER I RECEIVED A QUOTE?

    Several factors could influence why your rate changed between the time you received your quote and the time you decided to purchase the policy. If it’s been a few months since you received your quote, it’s possible that the rates will be revised, which could decrease or increse the price you pay for auto insurance. Inspection result could also affect the acceptance of coverage.

    I FORGOT TO PAY MY AUTO INSURANCE PREMIUM LAST MONTH, WILL MY POLICY BE CANCELED?

    If you fail to pay your premium on time, your insurance company has the right - after providing you with the legally required notice - to cancel the policy. It is likely also that you will not be covered for any accident or loss that may happen in the course of the coverage.

    IF SOMEONE BORROWS MY CAR, ARE THEY COVERED UNDER MY AUTO INSURANCE?

    As a general rule, motor insurance coverage actually follows the vehicle, not the driver. So if your car is involved in an accident, the car receives the full coverage provided by the insurance policy, regardless of who is driving.

    WHO CAN I ELECT AS BENEFICIARY ON MY PERSONAL ACCIDENT ISURANCE PROCEEDS?

    You’re immediate family member. If the beneficiary is below 18 years old, it is advisable that you elect as an administrator

    Fire Insurance FAQ

    WHAT IS THE COVERAGE OF FIRE INSURANCE

    The coverage of the Fire Insurance is extensive and includes generally fire outbreak, lightning and the loss and damage resulted from extinguishing the fire.

    WHAT ARE THE OTHER RISKS CAN BE INSURED AGAINST?

    Earthquake, Typhoon, flood, Extended coverage (Smoke / Vehicle Impact / Falling Aircraft / Explosion), Riot Strike, Malicious Damage, Other named perils the Insurance Company may agree to cover.

    WHAT TO DO IN CASE OF CLAIMS?

    Report the claim the soonest possible time and reporting should not exceed 14 days after the date of loss.

    Make sure that damaged and undamaged properties are kept safe for inspection by our claims representatives.

    Submit all necessary documents to Paramount i.e. Police & Fire Dept. reports, photos of damaged properties, quotation from a contractor for repair works and restoration, other general requirements.

    Engineering Insurance FAQ

    WHAT IS THE COVERAGE OF ENGINEERING INSURANCE?

    Engineering Insurance in principle provide “All Risk” type covers. This means that almost any sudden and unforeseen physical loss or damage occurring during the period of insurance to the property insured is indemnifiable.

    WHO REQUIRES ENGINEERING INSURANCE COVER?

    Financiers, Developers, Owners, Principals, Employers, Purchasers, Main Contractors, Sub-Contractors, Supplier-Installers who are involved in:

    • The construction or erection of all types of civil, electrical, mechanical engineering projects.
    • The managing and on-going operation of these types of industrial developments/projects.
    • The use/operating or leasing (hiring-out) of Contractor’s Plant and Machinery
    WHAT TO DO IN CASE OF ENGINEERING INSURANCE CLAIMS?
    • Report the claim the soonest possible time and reporting should not exceed 14 days after the date of loss.
    • Make sure that damaged and undamaged properties are kept safe for inspection by our claims representatives.
    • Submit all necessary documents to Paramount i.e. Police & Fire Dept. reports, photos of damaged properties, and other general requirements.

    Personal Accident FAQ

    WHO MAY APPLY FOR PERSONAL ACCIDENT INSURANCE COVERAGE?

    Any individual of legal age and actively working may apply for a Personal Accident Insurance.

    WHAT ARE THE REQUIREMENTS?

    Simply fill-up the application form and submit it to the company through fax or e-mail.

    WHO CAN I ELECT AS BENEFICIARY OF MY INSURANCE PROCEEDS?

    Your immediate family member. If the beneficiary is below 18 yrs. old, it is advised that you elect an administrator.

    WHAT IS DISABILITY INSURANCE BENEFIT?

    It provides financial support in the event the policyholder or assured is unable to work because of total and permanent disability caused by an accidental injury.

    Fidelity Guarantee FAQ

    WHAT IS FIDELITY GUARANTEE INSURANCE?

    The policy designed to indemnify the insured against direct pecuniary loss sustained through acts of fraud or dishonesty by an employee in the course of his employment.

    WHO MAY BE COVERED UNDER A FIDELITY GUARANTEE INSURANCE?

    The policy covers regular employees of the insured whose responsibilities include cash handling: i.e. cashiers, sales clerks, treasurer and alike.

    Comprehensive General Liability FAQ

    WHAT IS PUBLIC LIABILITY INSURANCE?

    Public liability insurance covers a business against claims should its operations injure a member of the public or damage their property in some way.

    WHAT PROTECTION IS PROVIDED FOR UNDER A PUBLIC LIABILITY INSURANCE?

    Liability insurance covers only the risks of being sued for negligence. In other words, liability insurance does not protect against liability resulting from crimes or intentional acts committed by the insured.

    Policy Renewal FAQ

    HOW CAN I CONFIRM MY POLICY RENEWAL?

    Accomplish and submit the renewal reply slip on your premium notice or send out a written advise (via fax or email) to serve as confirmation of the renewal.

    WHERE CAN I PAY MY RENEWAL PREMIUMS?

    We want to make paying your premiums as easy and as convenient as possible. That’s why we have given you several choices on how you can pay for your premiums. Choose the one that is most convenient for you!

    1. Our Head Office Cashier located at the 12th Floor, Sage House, 110 V.A. Rufino St. Legaspi Village, Makati City or through our branch offices nationwide.
    2. Over-the-counter (OTC) transactions through any of our duly authorized collecting banks: BDO, Unionbank, Metrobank, UCPB or any Bancnet member bank.
    3. Accredited Payment Centers: Any Bayad Center Branches & M Lhuiller Branches
    4. Internet Banking : BPI , Union Bank, Metrobank & Any Bancnet member bank
    5. Your Servicing Agent/LifePlanning Partner (always ask for Provisional Receipt)
    HOW WILL I KNOW IF MY POLICY IS DUE FOR EXPIRY?

    Paramount reminds its insured clients when policies are due for expiry / renewal through two ways. (1) a renewal notice is sent to the insured’s billing address at least 45 days before the policy expires. (2) a Paramount customer representative calls the insured client a month before expiry to inform him/her that their policy is expiring.