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Equity Plan (EP)

Equity Plan is a mutual benefit plan wherein a uniformed member pays 3% of his monthly base pay. The EP member derives the following benefits:

  • Savings – forced savings of 44% equity contribution with assured earnings of 12% interest
  • Insurance Coverage – death and disability benefits
  • Loan Privilege – includes salary loan, policy loan and calamity loan
Basic Group Term Insurance Plan (BGTP)
Basic Group Term Plan is an insurance plan with very minimal premium and has been in existence in the armed services of the Philippines. With PSMBFI, unlike similar plans of other agencies, the insurance coverage was increased with inclusion of double indemnity in case of accidental death.
Special Group Term Insurance Plan (SGTI)
Special Group Term Plan is a mandatory for all those in the active service as mandated by Presidential Decree of 1965. This decree states that each member of the armed services shall be insured under a Special Group Term Coverage program; fifty percent (50%) of the rate of insurance premium shall be paid by each member and the remaining fifty percent (50%) shall be paid by the Government as its counterpart premium contribution.
Burial Assistance Benefit (BAB)
Burial Assistance Benefit provides immediate assistance in the form of cash advance in case of death of the member.
This Benefit provides for an assistance of P21,000 and P42,000 for every P16 and P32 contribution of a PNCO and PCO, respectively.
The WIA/KIA Financial Assistance

Effective October 1, 2007 PSMBFI is giving additional benefits to members who are wounded in action (WIA) and to the beneficiaries of those killed in action (KIA).

  • P10,000 will be given to those who incur minor wounds while in action.
  • P20,000 will be given to those who incur major wounds while in action.
  • P25,000 will be given to the beneficiaries of those killed in action, in addition to the basic insurance benefit.

Requirements for those wounded in the conduct of legitimate operations:

  • Letter request from member claimant or endorsement by Unit Chief for financial assistance.
  • Spot Report or After Operations Report.
  • Certification issued by the immediate superior/commander such as the Chief of Police/Office or higher, certifying among other things that indeed the claimant was wounded in a legitimate operation.
  • Medical Report from the Regional Health Officer of the Police Regional Office (PRO) or Police Provincial Office (PPO) or any government physician in the area to be validated by a retained Medical Director.

The Medical Report must have the proper determination of the injury, whether major injury or minor injury.

Requirements for claims (killed in action in the conduct of legitimate operations)

  • Spot Report of Investigation Report
Certification issued by the immediate superior/commander such as the Chief of Police/Officer Higher, certifying among other things that indeed the claimant was killed in a legitimate operation.
Salary Loan (SL)

Lower interest rates
PSMBFI Salary Loan interest rate is 16% per annum. Loan terms available:

  • For loan amount of P50,000 and below, payable for a maximum term of 24 months.
  • For loan amount of P55,000 to P200,000, payable for a maximum term of 60 months.

Renewable
The loan shall be renewable after payment of at least 30% of the total loan amount.

Qualifying criteria and conditions:
  • Take home pay after deduction of amortization shall be in accordance with existing PNP directive (not lower than P3,300 per month).
  • Receiving salary through the Continuous Form Cheques (CFC) for PNP personnel.
  • Must be an Equity Plan member with premium deduction reflected on his/her latest payslip.
  • Must not be retiring or resigning with the designated period or during the term of the loan.
  • Should have two (2) co-makers who should meet the same qualifying criteria as borrower. (For re-loan, required minimum Take Home Pay plus one-half (1/2) of applicable monthly amortization.)

Credit Life Insurance

  • Loans of P35,000 and above must be covered by Credit Life Insurance (CLI) Operational coverage.
  • In “active status” with no pending case.

Other salary loan variants available to PSMBFI members:

  • The Housing Loan through the PSMBFI Tulong Pabahay Program (e.g. the Gawad Kalinga PNP Housing Project in Camp Macabulos, Tarlac) at a loan interest rate of 16% per annum.
  • The Calamity Loan for those in NDCC calamity declared areas. They may avail within 30 days from the declaration. Maximum loanable amount is P50,000 at an interest rate of 9%.
SALARY LOAN REQUIREMENTS
  1. Duly accomplished loan application form.
  2. Original and photocopy of PNP ID of borrower/co-makers (back to back and not expired and with 3 specimen signatures). If not available, any valid ID’s and certification that the PNP ID is still being processed.
  3. Original and photocopy of latest payslip of borrower for the last 2 months.
  4. Photocopy of latest payslip of co-makers.
  5. Certificate of Duty Status (Station/Unit Clearance)
  6. Non-pending case from IAS/RIAS.
SALARY LOAN REFUND REQUIREMENTS
  1. Duly accomplished refund form
  2. Photocopy of payslip
  3. Photocopy of PNP I.D. w/ 3 specimen signature
  4. SPA if third party - w/ original ID of the principal and Original / photocopy of ID of Authorized person
Policy Loan (PL)

Loanable amount is equivalent to 50% of the total accumulated equity value. Interest rate is 15% per annum and payable in two years. No co-maker is required.

POLICY LOAN REQUIREMENTS
  1. Duly accomplished Policy Loan Application Form
  2. Photocopy of PNPID with 3 specimen signature
  3. Photocopy of latest payslip

CLAIMS / LOANS / REFUND REQUIREMENTS

REQUIREMENTS FOR PERMANENT ACCIDENTAL DISABILITY BENEFIT
  1. Investigation Report
  2. Certification of Duty Status from the unit
  3. Certificate of Permanent Disability from the Attending Physician (6 months after the incident)
  4. Photo (showing the affected part & whole body)
  5. PNP ID (photocopy back to back)
  6. Service Record
  7. Latest Payslip

All documents should be duly authenticated by BPAD or PSMBFI Regional Extension Officer.

SCHEDULE OF LOSS
DECRIPTION OF LOSS Percentage of Principal Sum
Loss of life 100%
Loss of two limbs 100%
Loss of both hand, or all fingers and both thumbs 100%
Loss of both feet 100%
Total loss of sight of both eyes 100%
Injuries resulting in being permanently bedridden 100%
Any other injury causing permanent total disablement 100%
Loss of arm at/or above elbow 70%
Loss of arm between elbow and wrist 60%
Loss of hand 50%
Loss of four fingers and thumb of one hand 50%
Loss of four fingers 35%
Loss of thumb 15%
Loss of index finger 10%
Loss of middle finger 6%
Loss of ring finger 5%
Loss of little finger 4%
Loss of metacarpals 1st and 2nd (add'l) 3%
Loss of metacarpals 3rd, 4th and 5th (add'l) 2%
Loss of leg at/or above knee 60%
Loss of leg below knee 50%
Loss of toes - all of one foot 25%
Loss of big toe 5%
Loss of any toe, other than big toe, each 1%
Loss of one sight of one eye 50%
Loss of hearing - both ears 50%
Loss of hearing - one ear 25%

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REQUIREMENTS FOR DEATH CLAIM (VEH.ACC/DROWNING) 2 COPIES EACH
  1. Investigation Report
  2. Spot Report
  3. Traffic Accident Report (for Veh.Acc)
  4. Sworn Statement / Affidavit of 2 witnesses
  5. Death Certificate (Certified True Copy from Civil Registrar)
  6. Latest Payslip
  7. Certificate of Last Payment
  8. Updated Service Record from PNP Record Center
  9. Certification of Legal Dependents from PNP Record Center
  10. Marriage Contract (if married)
  11. Birth Certificate of Legal Beneficiaries
  12. Affidavit of guardianship (if with minor beneficiary/ies)
  13. Marriage Contract of Parents (if single)
  14. Birth Certificate of the insured (if single)
  15. Certification from the unit stating that the insured died SINGLE, with or w/o illegitimate children (attach Birth Cert. Of illegitimate child/ren)
  16. PNP ID (photocopy back to back)

All documents should be duly authenticated by BPAD or PSMBFI Regional Extension Officer.

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REQUIREMENTS FOR DEATH CLAIM (GUNSHOT/STAB WOUND) 2 COPIES EACH
  1. Investigation Report
  2. Spot Report
  3. Death Certificate ( Certified True Copy from Civil Registrar)
  4. Latest Payslip
  5. Certificate of Last Payment
  6. Updated Service Record from PNP Record Center
  7. Certification of Legal Dependents from PNP Record Center
  8. Marriage Contract (if married)
  9. Birth Certificate of Legal Beneficiaries
  10. Affidavit of guardianship (if with minor beneficiary/ies)
  11. Marriage Contract of Parents (if single)
  12. Birth Certificate of the insured (if single)
  13. Certification from the unit stating that the insured died SINGLE, with or w/o illegitimate children (attach Birth Cert. Of illegitimate child/ren)
  14. PNP ID (photocopy back to back)

All documents should be duly authenticated by BPAD or PSMBFI Regional Extension Officer.

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REQUIREMENTS FOR DEATH CLAIM (SICKNESS) 2 COPIES EACH
  1. Investigation Report or Spot Report
  2. Death Certificate ( Certified True Copy from Civil Registrar)
  3. Latest Payslip
  4. Certificate of Last Payment
  5. Updated Service Record from PNP Record Center
  6. Certification of Legal Dependents from PNP Record Center
  7. Marriage Contract (if married)
  8. Birth Certificate of Legal Beneficiaries
  9. Affidavit of guardianship (if with minor beneficiary/ies)
  10. Marriage Contract of Parents (if single)
  11. Birth Certificate of the insured (if single)
  12. Certification from the unit stating that the insured died SINGLE, with or w/o illegitimate children (attach Birth Cert. Of illegitimate child/ren)
  13. PNP ID (photocopy back to back)

All documents should be duly authenticated by BPAD or PSMBFI Regional Extension Officer

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RETIREMENT REFUND REQUIREMENTS
  1. Retirement Order (photocopy)
  2. Certificate of Last Payment (photocopy)
  3. Latest Payslip (photocopy)
  4. PNP I.D (Photocopy back to back w/ 3 specimen signature)
  5. Service Record, for retirement claims (photocopy)
  6. Membership Certificate (Policy Contract) original

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CORPORATE SOCIAL RESPONSIBILITY
  • Tulong Pabahay Program

    • Among the priority projects under the PNP Transformation Program is the implementation of the PNP Kalinga Housing Program, and PSMBFI extends assistance to its members through the Tulong Pabahay Program. PSMBFI assisted police-family beneficiaries avail of low cost yet decent and well-situated housing units in Camp Macabulos in Tarlac.

  • Calamity Loan

    • The Calamity Loan Program of PSMBFI provides lower interest rates and with lesser requirements. This is to meet the emergency credit units of our typhoon-affected members residing at localities declared as calamity areas.

  • Tulong Pangkabuhayan Program

    • In cooperation with the University of Asia and the Pacific, PSMBFI entered into an agreement with the PNP, and private institutions to participate in programs like Project Piglink. These programs are small opportunities that could eventually uplift the lives of our members. Other schemes are being studied to develop more livelihood opportunities to members.

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PUBLIC SAFETY MUTUAL BENEFIT FUND, INC.
No. 318-320 Boni Serrano Ave., cor 1st & 2nd West St, San Juan, Metro Manila
Telephone no: (632) 726-8070 :: (632) 726-1675
Fax no: (632) 726-7250

Public Safety Mutual Benefit Fund, Inc.
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