FREQUENTLY ASKED QUESTIONS 

1. What is Pre-Need and At-Need?
    - Pre-Need is something that you are paying in advance for future use or service. It is less expensive than the At-Need.  
      At-Need is when you needed right now. It is more expensive (almost 2x to 3x the price) than the Pre-Need price. 

2. What is 1 year contestability period?
    - It is the period wherein the planholder must not die due to Natural Death. Natural Death means death occurring in the course of nature            and from natural causes (as age or disease) as opposed to accident or violence.

3. What happens when a Planholder died of Natural Death during 1-12 months?
    - The family of the Planholder must pay the remaining balance of the plan before a Memorial Service is provided. Fortunately, it is still             better since the planholder is at Pre-Need plan rather than At-Need. 

4. What is Insurable and Non-Insurable Person?
    - Insurable Person is between 18-60 years old (with insurance benefits).
    - Non-Insurable Person is below 18 and above 60 years old (without insurance benefits).

5. What is Assignability? (livind to dead)
   Answers: a) The Planholder may assign the plan to any deceased person after thirty (30) days from the effective date of the plan.                                         A Lapsed Plan can not be assigned. 
b) The outstanding balance, if any, must be fully paid before the Memorial Services can be effected.
c) Any Insurance Coverage provided to the Planholder shall automatically terminate.
d) If the Planholder is already receiving the Return of Premium and plans to assign, the remaining Return of Premium                                          shall be cease or end effective at the time of assignment.
e) An Assignability fee of Php 500.00 shall be paid by the Planholder or the Transferee (receiver).

6. What is Transferability? (living to living)
  Answers: a) The Planholder may transfer the plan to another living person after thirty (30) days from the effective date of the plan.                                      A Lapsed Plan can not be transferred. 
b) If the Planholder transfers the plan to any living person before the Planholder starts receiving the Return of Premium,                                      the Transferee (receiver) may still be entitled to the Return of Premium.
c) But, if the Planholder is already receiving the Return of Premium and plans to transfer, the remaining Return of Premium                                shall be cease or end effective at the time of transfer.
d) A Transfer fee of Php 500.00 shall be paid by the Planholder or the Transferee (receiver).
e) A new Pre-Need Contract shall then be issued to the Transferee (receiver).
f) The Transferee (receiver) shall continue the installment if it not yet fully paid. The Insurance Coverage of the Transferee                                 (receiver) if qualified shall be subject to one (1) year contestability period from the date of transfer.

7. Who can claim the insurance benefits from my St. Peter Life Plan?
          a) If you are Married and with Children – your Spouse and/or your Children can claim
        b) If you are Single with children           – your Children can claim
        c) If you are Single without children      – your Parents can claim