Get insurance. UnionBank of the Philippines - Credit Life Insurance

Credit Life Insurance

We guarantee protection for you and your family in the event of untimely death and disability. Pays up to P400,000 of your outstanding balance. Credit life insurance.

The UnionBank Credit Life Insurace, U-Protect and U-Secure

Security and peace of mind is yours to enjoy as a UnionBank cardholder. At any age, an illness or accident can strike you resulting in your disability or death. The financial effects can be devastating to you and your family. Medical expenses and other related costs pile on top of your regular monthly household and credit card bills at a time when you may have no income. Don’t let this happen. U-Protect Insurance Plan has been issued to you as a UnionBank cardholder to protect you and your family during the time when you need it most.

(5% of your outstanding balance or P500, whichever is higher) while you are temporarily disabled

Even your temporary disability which is caused by accidents can cause severe financial hardship. That is why this Plan is also designed to help ease your financial burdens and protect your good credit rating. It pays the minimum payment due — 5% of your outstanding balance or P500, whichever is higher — for each month you remain temporarily disabled up to 12 months before age 60..

for death due to illness or accident

To help your family cope with the serious financial effects of losing you and your income, this Plan will pay your outstanding UnionBank Credit Card balance shown in your last statement prior to your date of death before age 60 — up to P400,000.

for total permanent disability

Your total disability could be just as much a hardship for your family. If you are insured and you become totally and permanently disabled before age 60, this Plan will pay your outstanding balance shown on the last statement you receive before the injury or illness that caused your disability — up to P400,000. This benefit is paid after you have been continuously disabled for six months. This benefit is paid in lieu of the death benefit.

Your protection is guaranteed renewable to age 60 as long as you remain a UnionBank Credit Card cardholder in good standing and your premiums are paid.

Can you tell me something about Insular Life? Who is the insurer of this product?

Insular Life is the insurer of the U Protect product. Insular Life is a world-class insurance provider and a major player in financial services, offering a full range of high value products and services to a global market. Insular Life renders service of the highest quality to their customers; maintains a professional and customer-oriented employee and agency force; and supports our government in the task of nation building. They are guided by their Commitment to Excellence, Integrity in Work, Respect for the Individual, and Upliftment of the Filipino.

If I change my mind, how do I cancel the insurance?

You can cancel your coverage at any time by simply calling us back at 84186. Remember, this coverage offers you peace of mind and is free for the first 3 months.

Why is Union Bank offering this protection?

Union Bank is making this U Protect coverage available to its Visa cardholders because we believe this low cost cover can provide peace of mind to you and your family.

We believe this protection is so important to you and your family that we have arranged for Insular Life Assurance Company, Ltd. to automatically issue U-Protect Insurance Certificate. You are already covered! The added security and peace of mind is yours to enjoy for 3 full months at no cost to you.

Does my coverage change or terminate at a certain age?

Yes, your cover would terminate at age 60. The eligible entry ages are 21 to 59 and at the age of 60 the cover will automatically terminate.

To keep premiums affordable, insurance companies who offer this type of insurance need to enforce certain age restrictions.

Are premiums still due while I am collecting benefits?

No, premiums will be waived while you are on claim.

Yes. U Protect pays your statement balance up to P400,000 in the event of your death or if you become and remain totally disabled for at least six months before age 60 to cover your UnionBank Credit Card debt shown on your last statement.

This important protection is yours now and for 3 full months at no cost to you. Then, your low monthly premium will be just P0.36 per P100 of your statement balance which will be billed to your UnionBank Credit Card account. You pay nothing when your balance is 0 guaranteed. And, this protection is renewable to age 60.

If I pay my balance off every month, will I still be charged for the insurance?

The amount charged is P0.36 per P100 of your statement balance. If your card is paid off each month, you may still be charged a premium. It depends on when your card is paid off, as the premium you are charged is based on the statement balance shown on your credit card statement each month. For example, if you spend $1000 on your card within a month, and the balance on your statement shows $1000 your premium will be $7.00. If your card is paid off before your credit card statement is issued you will have a outstand balance of $0 and therefore no premium will be charged.

What if I didn’t carry any balance on my Visa Card for a particular month?

In any month that you do not have an statement balance, no premium will be charged but U Protect will cover you as soon as you have an statement balance. So, it really just covers you when you need it.

Your premiums DO NOT increase with age, however Insular Life, the insurer for this plan, has the right to change premiums at some time in the future, but they must send you written notice at least 30 days in advance of any premium change. So, if you were dissatisfied in any way, you would have plenty of time to cancel the plan.

The protection is already yours free for the first 3 months, at no cost to you. Then, your low monthly premium will be charged to your UnionBank Credit Card account.

This coverage is free for the first 3 months at no cost to you. Then, your low monthly premium will be just P0.36 per P100 of your statement balance which will be billed to your UnionBank Credit Card account. You pay nothing when your balance is 0 guaranteed. And, this protection is renewable to age 60!

When will the first payment be deducted from my account?

Your first premium will be charged to your Visa card after the first 3-month free period is over.

This protection is already yours FREE for the next 3 months compliments of UnionBank. You should have received a letter, brochure and certificate. This would have signaled the beginning of your coverage.

Benefits are credited monthly to your Union Bank VISA card for temporary disability and in a lump sum installment for death and total disability.

What benefits does the U Protect Coverage offer?

It makes your minimum monthly payments (up to 5% of your statement balance or P500 whichever is greater) on your Union Bank VISA credit card each month if you are temporary disability due to an accident.

It pays your entire statement balance up to P400,000 in the event of death or if you become and remain totally disabled for at least six months before age 60.

At any time.... — an illness or accident can strike resulting in your disability or death. The financial effects can be devastating to you and your family. Whether you survive or not, medical expenses and other extraordinary costs pile on top of your regular monthly household and credit card bills at a time when you may have no income. That is why this new U-Protect Insurance Plan has been issued to you as a UnionBank Credit Card cardholder aged 21 to 59. It can be so very important to you and your family’s future financial well-being, because it will pay your UnionBank Credit Card bills if you die or become disabled which will help preserve your savings or other insurance benefits.

When does the cover expire/finish/ terminate?

This protection is renewable to age 60. It will terminate at age 60.

What is not covered by U-Protect?

No benefits for Permanent or Temporary Disablement will be payable when: Self-destruction or self-inflicted injuries whether the insured be sane or insane at the time of commission. Temporary disability due to bodily or mental infirmity or disease of any kind. Temporary disability due to poisoning or infection, other than infections occurring simultaneously with and in consequence of a cut or wound sustained in an accident.

Any death or disability suffered While on police duty in any military, naval or police organization, In any riot, civil commotion, insurrection or war, or any accident thereto; While traveling as a passenger or otherwise in any form of air or submarine transportation, or while engaging in aeronautics or submarine operations, except while the insured is a passenger in an aircraft operated by a passenger airline on a scheduled trip over its established passenger route; and In any violation of the law by the insured individual or assault provoked by the insured individual. Atomic fission or radioactive gas.

No. Should the cardholder become eligible for 2 or more benefits, only one benefit will be paid, being the higher benefit payable.

All benefits are paid directly to Union Bank and are applied directly to your UnionBank Credit Card.

Can UnionBank or Insular Life cancel my cover?

As long as your premiums are paid when due and the Master Policy remains enforced, your coverage cannot be cancelled. Your cover is renewable to age 60.

The system shall automatically cancel the insurance coverage when the cardholder has reached the age 60 or when his account has been delinquent for 90 days or if the Master Policy is no longer enforced. Cardholder may also voluntarily cancel the insurance.

Reinstatement for U-Protect shall be allowed as long as the card account does not reach the 90 days delinquency, otherwise the insurance coverage will automatically be terminated. The system will automatically reinstate the insurance whenever the account becomes current.

All claims shall be handled by Credit Card Operations and shall be forwarded to Insular Life within 10 banking days upon receipt of the complete documents from the cardholder or from the cardholder’s Legal beneficiaries, in case of death. Just call 841-86 for the necessary documents to file the claim.

Qualified to file a claim shall be as follows:

UnionBank (through authorized representatives), being the sole and irrevocable beneficiary of the insurance

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Cardholder or Legal beneficiaries

For Legal beneficiaries, the following order of preference shall be observed:

Surviving legitimate, legitimated, legally adopted and recognized natural children

Surviving brothers and sisters of the full blood

Surviving brothers and sisters of the half blood

Executors, administrators or assigns

What are the necessary documents to file a claim?

Documentary requirements shall be as follows:

Notarized Claimant’s Statement

Attending Physician’s Statement

Original Death Certificate – certified true copy from Local Civil Registrar or National statistics Office (NSO) issued

Original Birth Certificate of cardholder - certified true copy from Local Civil Registrar or National statistics Office (NSO) issued

Employer’s Certification (if employed) – stating the deceased cardholder’s date of employment, status of employment at the time of death, last day of actual work, and leave of absence prior to date of death

Original Birth Certificate of Claimant-Beneficiaries - certified true copy from Local Civil Registrar or National statistics Office (NSO) issued

Original Copy of Marriage Certificate, if claimant is spouse - certified true copy from Local Civil Registrar or National statistics Office (NSO) issued

UnionBank Certification of Statement balance of the cardholder at time of death

For Minor Claimant-Beneficiaries (below 18 years old at time of filing):

If share of the minor in the insurance benefit is less than or equal to Php 50,000.00, the following shall be required from parent-representative:

Notarized Claimant’s Statement

Affidavit of Actual Care and Custody/Parental Authority

If share of the minor in the insurance benefit is less than or equal to Php 50,000.00, the following shall be required from non-parent-representative:

Notarized Claimant’s Statement

Letters of Guardianship

If share of the minor in the insurance benefit is greater than Php 50,000.00, the following shall be required from parent or non-parent-representative:

Notarized Claimant’s Statement

Letters of Guardianship

Additional requirements for special cases:

For deaths occurring outside the country

Embalmer’s or Coroner’s Certificate

Certificate of Cremation

Bureau of Quarantine Certificate

Marine Protest Report (for deaths at sea)

Airline or Marine Passenger Manifest

Affidavit from 2 disinterested parties

Note: All documents coming from outside the country should be translated in English and authenticated by the Philippines Consular Office nearest place of death, to establish authenticity of the documents.

Where claimant-beneficiary is not a member of the deceased cardholder’s family

Notarized affidavit of 2 disinterested parties who have known the deceased cardholder and the claimant-beneficiary for a period of time. This document shall provide proof of relationship between the deceased cardholder and the claimant.

Certificate of No Marriage from the Local Civil Registrar or NSO. This document shall certify that the deceased cardholder has no record of marriage.

TOTAL AND PERMANENTS DISABILITY CLAIM

Notarized Disability Claim Form

Notarized Attending Physician’s Statement

UnionBank Certification of Statement balance at the time the cardholder file the insurance claim (i.e., upon submission of complete documents)

Temporary Disability Claim

Notarized Accidental Disability Claim Form

Notarized Attending Physician’s Statement

Notarize Daily Time Record from date of accident to the present, issued by the employer of cardholder

UnionBank Certification of Statement balance at the time the cardholder file the insurance claim (i.e., upon submission of complete documents)

(5% of your outstanding balance or P500, whichever is higher) while you are temporarily disabled

Even your temporary disability which is caused by accidents can cause severe financial hardship. That is why this Plan is also designed to help ease your financial burdens and protect your good credit rating. It pays the minimum payment due — 5% of your outstanding balance or P500, whichever is higher — for each month you remain temporarily disabled up to 12 months before age 60..

for death due to illness or accident

To help your family cope with the serious financial effects of losing you and your income, this Plan will pay your outstanding UnionBank Credit Card balance shown in your last statement prior to your date of death before age 60 — up to P400,000.

for total permanent disability

Whole life insurance coverage

Your total disability could be just as much a hardship for your family. If you are insured and you become totally and permanently disabled before age 60, this Plan will pay your outstanding balance shown on the last statement you receive before the injury or illness that caused your disability — up to P400,000. This benefit is paid after you have been continuously disabled for six months. This benefit is paid in lieu of the death benefit.

Your protection is guaranteed renewable to age 60 as long as you remain a UnionBank Credit Card cardholder in good standing and your premiums are paid.

Because you are a valued UnionBank cardholder, we have made special arrangements for all our cardholders like yourself to be automatically issued a U-Secure protection plan. This protection plan is already yours FREE for the next 2 months compliments of UnionBank.

Can you tell me something about Insular Life? Who is the insurer of this product?

Insular Life is the insurer of the U-Secure product. Insular Life is a world-class insurance provider and a major player in financial services, offering a full range of high value products and services to a global market. Insular Life renders service of the highest quality to their customers; maintains a professional and customer-oriented employee and agency force; and supports our government in the task of nation building. They are guided by their Commitment to Excellence, Integrity in Work, Respect for the Individual, and Upliftment of the Filipino.

If I change my mind, how do I cancel the insurance?

You can cancel your coverage at any time by simply calling us back at 84186. Remember, this coverage offers you peace of mind and is free for the first 2 months.

Why is Union Bank offering this protection?

Union Bank is making this U-Secure coverage available to its credit cardholders because we believe this low cost coverage can provide peace of mind to you and your family.

We believe this protection is so important to you and your family that we have arranged for Insular Life Assurance Company, Ltd. to automatically issue U-Secure Insurance Certificate. You are already covered! The added security and peace of mind is yours to enjoy for 2 full months at no cost to you.

We understand. However, circumstances like death or disability usually happens when we least expect it. The advantage is that this plan gives you peace of mind knowing that whatever happens to you, your family is free from your UnionBank credit card obligations up to P 400,000 PLUS you or your family will be paid the same amount paid to your UnionBank credit card up to P400,000 which can be used to pay for your other financial obligations.

Does my coverage change or terminate at a certain age?

Yes, your cover would terminate at age 60. The eligible entry ages are 21 to 59 and at the age of 60 the cover will automatically terminate.

To keep premiums affordable, insurance companies who offer this type of insurance need to enforce certain age restrictions.

Do you know that I am disabled right now? Am I still eligible for this coverage?

Yes, you are eligible for coverage. However, you will not be entitled to receive benefits for your current disability.

Are premiums still due while I am collecting benefits?

No, premiums will be waived while you are on claim.

Premiums will no longer be collected if the claim is for death or total and permanent disability. However, for temporary disability claims, premiums will still be collected on a monthly basis.

Yes. U-Secure pays your statement balance up to P400,000 in the event of your death or if you become and remain totally disabled for at least six months before age 60 to cover your UnionBank Credit Card debt shown on your last statement.

PLUS up to P400,000 paid to you or your family to help secure your financial well-being.

This important protection is yours now and for 2 full months at no cost to you. Then, your low monthly premium will be just P0.55 per P100 of your statement balance which will be billed to your UnionBank Credit Card account. You pay nothing when your balance is 0 guaranteed. And, this protection is renewable to age 60.

If I pay my balance off every month, will I still be charged for the insurance?

The amount charged is P0.55 per P100 of your statement balance. If your card is paid off each month, you may still be charged a premium. It depends on when your card is paid off, as the premium you are charged is based on the statement balance shown on your credit card statement each month.

For example, if you spend P 1000 on your card within a month, and the balance on your statement shows P 1000, your premium will be P5.50. If your card is paid off before your credit card statement is issued you will have an outstanding balance of P0 and therefore no premium will be charged.

The premium is actually very reasonable when you consider that for every P100 charged to your credit card, the cost to be insured is only P0.55. So, on statement balance of P1,000 your monthly premium would be just P 5.50. And on a month with a zero (0) statement balance, there is no charge. The added security and peace of mind is well worth it. And, you do not have to answer any health questions or have a medical examination to be eligible for coverage, all cardholders between 21 and 59 are guaranteed coverage.

What if I didn’t carry any balance on my Visa Card for a particular month?

In any month that you do not have a statement balance, no premium will be charged but U-Secure will cover you as soon as you have an statement balance. So, it really just covers you when you need it.

Your premiums DO NOT increase with age, however Insular Life, the insurer for this plan, has the right to change premiums at some time in the future. You will receive a written notice from us at least 30 days in advance of any premium change. So, if you were dissatisfied in any way, you would have plenty of time to cancel the plan.

How do I pay for this insurance?

The protection is already yours free for the first 2 months, at no cost to you. Then, your low monthly premium will be charged to your UnionBank Credit Card account.

This coverage is free for the first 2 months at no cost to you. Then, your low monthly premium will be just P0.55 per P100 of your statement balance which will be billed to your UnionBank Credit Card account. You pay nothing when your balance is 0 guaranteed. And, this protection is renewable to age 60!

When will the first payment be deducted from my account?

Your first premium will be charged to your Visa card after the first 2-month free period is over.

This protection is already yours FREE for the next 2 months compliments of UnionBank. You should have received a letter, brochure and certificate. This would have signaled the beginning of your coverage.

Benefits are credited monthly to your Union Bank VISA card for temporary disability and in a lump sum installment for death and total disability.

What benefits does the U-Secure Coverage offer?

It makes your minimum monthly payments (up to 5% of your statement balance or P500 whichever is greater) on your Union Bank VISA credit card each month if you are temporary disabled due to an accident.

It pays your entire statement balance up to P400,000 in the event of death or if you become and remain totally disabled for at least six months before age 60.

PLUS it will pay you or your beneficiary an amount equal to the amount paid to UnionBank Credit Card- up to P400,000.

At any time.... - an illness or accident can strike resulting in your disability or death. The financial effects can be devastating to you and your family. Whether you survive or not, medical expenses and other extraordinary costs pile on top of your regular monthly household and credit card bills at a time when you may have no income. That is why this new U-Secure Insurance Plan has been issued to you as a UnionBank Credit Card cardholder aged 21 to 59. It can be so very important to you and your family’s future financial well-being, because it will pay your UnionBank Credit Card bills if you die or become disabled which will help preserve your savings or other insurance benefits PLUS provides cash to you or your beneficiary to pay off your other financial obligations.

When does the cover expire/finish/ terminate?

This protection is renewable to age 60. It will terminate at age 60.

No benefits for Permanent or Temporary Disablement will be payable when: Self-destruction or self-inflicted injuries whether the insured be sane or insane at the time of commission. Temporary disability due to bodily or mental infirmity or disease of any kind. Temporary disability due to poisoning or infection, other than infections occurring simultaneously with and in consequence of a cut or wound sustained in an accident. Any death or disability suffered While on police duty in any military, naval or police organization, In any riot, civil commotion, insurrection or war, or any accident thereto; While traveling as a passenger or otherwise in any form of air or submarine transportation, or while engaging in aeronautics or submarine operations, except while the insured is a passenger in an aircraft operated by a passenger airline on a scheduled trip over its established passenger route; and In any violation of the law by the insured individual or assault provoked by the insured individual. Atomic fission or radioactive gas.

Should any of the enrolled cardholder commit suicide within one (1) year from the date of the issue or reinstatement of his insurance, whether the insured cardholder be then sane or insane, the liability of the Insurance provider shall be limited to the return of the premiums paid from the date of issue or reinstatement of his insurance up to the time of death.

No. Should the cardholder become eligible for 2 or more benefits, only one benefit will be paid, being the higher benefit payable.

Your credit card coverage benefit is paid directly to Union Bank and is applied directly to your UnionBank Credit Card.

The same amount paid to your UnionBank credit card will also be paid to you or your beneficiary in the event of death or total/permanent disability.

Can UnionBank or Insular Life cancel my cover?

As long as your premiums are paid when due and the Master Policy remains enforced, your coverage cannot be cancelled. Your cover is renewable to age 60.

The system shall automatically cancel the insurance coverage when the cardholder has reached the age 60 or when his account has been delinquent for 90 days or if the Master Policy is no longer in force. Cardholder may also voluntarily cancel the insurance.

Reinstatement for U-Secure shall be allowed as long as the card account does not reach the 90 days delinquency, otherwise the insurance coverage will automatically be terminated. The system will automatically reinstate the insurance whenever the account becomes current.

Whole life quote online

All claims shall be handled by Credit Card Operations and shall be forwarded to Insular Life within 10 banking days upon receipt of the complete documents from the cardholder or from the cardholder’s Legal beneficiaries, in case of death. Just call 841-86 for the necessary documents to file the claim.

Qualified to file a claim shall be as follows:

UnionBank (through authorized representatives), being the sole and irrevocable beneficiary of the insurance · Cardholder or Legal beneficiaries

For Legal beneficiaries, the following order of preference shall be observed:

Surviving legitimate, legitimated, legally adopted and recognized natural children

Surviving brothers and sisters of the full blood

Surviving brothers and sisters of the half blood

Executors, administrators or assigns

What are the necessary documents to file a claim?

Documentary requirements shall be as follows:

Notarized Claimant’s Statement

Attending Physician’s Statement

Original Death Certificate - certified true copy from Local Civil Registrar or National statistics Office (NSO) issued

Original Birth Certificate of cardholder - certified true copy from Local Civil Registrar or National statistics Office (NSO) issued

Employer’s Certification (if employed) - stating the deceased cardholder’s date of employment, status of employment at the time of death, last day of actual work, and leave of absence prior to date of death

Original Birth Certificate of Claimant-Beneficiaries - certified true copy from Local Civil Registrar or National statistics Office (NSO) issued

Original Copy of Marriage Certificate, if claimant is spouse - certified true copy from Local Civil Registrar or National statistics Office (NSO) issued

UnionBank Certification of Statement balance of the cardholder at time of death

For Minor Claimant-Beneficiaries (below 18 years old at time of filing):

If share of the minor in the insurance benefit is less than or equal to Php 50,000.00, the following shall be required from parent-representative:

Notarized Claimant’s Statement

Affidavit of Actual Care and Custody/Parental Authority

If share of the minor in the insurance benefit is less than or equal to Php 50,000.00, the following shall be required from non-parent-representative:

Notarized Claimant’s Statement

Letters of Guardianship

If share of the minor in the insurance benefit is greater than Php 50,000.00, the following shall be required from parent or non-parent-representative:

Notarized Claimant’s Statement

Letters of Guardianship

Additional requirements for special cases:

For deaths occurring outside the country

Embalmer’s or Coroner’s Certificate

Certificate of Cremation

Bureau of Quarantine Certificate

Marine Protest Report (for deaths at sea)

Airline or Marine Passenger Manifest

Affidavit from 2 disinterested parties

Note: All documents coming from outside the country should be translated in English and authenticated by the Philippines Consular Office nearest place of death, to establish authenticity of the documents.

Where claimant-beneficiary is not a member of the deceased cardholder’s family

Notarized affidavit of 2 disinterested parties who have known the deceased cardholder and the claimant-beneficiary for a period of time. This document shall provide proof of relationship between the deceased cardholder and the claimant.

Certificate of No Marriage from the Local Civil Registrar or NSO. This document shall certify that the deceased cardholder has no record of marriage.

TOTAL AND PERMANENTS DISABILITY CLAIM

Notarized Disability Claim Form

Notarized Attending Physician’s Statement

UnionBank Certification of Statement balance at the time the cardholder file the insurance claim (i.e., upon submission of complete documents)

Temporary Disability Claim

Notarized Accidental Disability Claim Form

Notarized Attending Physician’s Statement

Notarize Daily Time Record from date of accident to the present, issued by the employer of cardholder

UnionBank Certification of Statement balance at the time the cardholder file the insurance claim (i.e., upon submission of complete documents)

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