Basic Life Insurance

Product and Services












BLIP 100



With BLIP’s new package, you may now choose the number of Dependents that can be insured by Principal Member


1 Adult & 3 Minors


1 Adult & 2 Minors


1 Adult & 1 Minor


1 Adult



TPD Benefit

TPD 10


TPD 30


TPD 50


TPD 80


TPD 100



Maximum of 30 days in 1-Year Coverage


HIB 300 (300/day of confinement)


HIB 500 (500/day of confinement)



ELIGIBILITY. Members and employees of cooperatives that are members of the National Confederation of Cooperatives who are not less than 18 years old but not more than 65 years old may apply for membership in the Association by submitting an application form in the prescribed form. 

EFFECTIVITY. The Association may accept or reject the application of an individual in accordance with its prevailing underwriting guidelines. An individual accepted for membership in the Association is hereinafter referred to as a Member.

Membership in the Association becomes effective only when the individual is alive and in good health on the date of payment of the initial contribution.

CERTIFICATE OF MEMBERSHIP. The Association shall issue a Certificate of Membership to each member setting forth a summary of the benefits and other privileges as a Member of the Association.

MISSTATEMENT OF AGE. In the event the age of a Member has been incorrectly stated, the Association may adjust the contributions or benefits or both according to his correct age. If the Member is not eligible for coverage, the Association shall refund all contributions paid.

INCONTESTABILITY. Except for non-payment of contributions or any other grounds recognized by law and jurisprudence, one’s Certificate of Membership cannot be contested for willful misstatement or misrepresentations made in the application after the certificate of membership has been in force during the lifetime of the Member for one (1) year from the effective date of membership or the date of its last reinstatement. 

TERMINATION OF CERTIFICATE MEMBERSHIP.  The Certificate of Membership shall automatically terminate:

  1. if the Member dies; or
  2. if the Member withdraws his Equity Value; or
  3. if the Member reaches his sixty-fifth (65th) birthday; or
  4. as provided in the Contribution Loan provision of these rules and regulations.

Termination of Certificate of Membership shall not defeat any claim arising before such termination. Once terminated, further payments or acceptance of any contribution shall not create any liability under this Certificate of Membership other than to refund the same. 

REINSTATEMENT. A former member may reinstate his Certificate of Membership in the Association provided that:

  1. the Certificate of Membership is reinstated within three (3) years from the date of termination of his Certificate of Membership;
  2. he has not withdrawn his Equity Value;
  3. he is still eligible to apply for membership as provided above;
  4. he pays in full and immediately upon filing of the application for reinstatement, the corresponding accumulated back contributions since the date of termination of his Certificate of Membership with interest of 10% per annum compounded monthly; and
  5. he submits evidence of good health satisfactory to the Association.

Reinstatement of his Certificate of Membership shall take effect on the date of approval of application by the Association provided the corresponding contributions and fees were paid in full and received by the Association.


DEATH BENEFIT. Upon death of a Member, his beneficiaries shall be entitled to the Basic Death Benefit of P 10,000.00 plus his Equity Value.

ACCIDENTAL DEATH BENEFIT. If a Member who has not attained the age of 65 has sustained accidental bodily injuries effected directly and independently of all other causes and as a result of such injuries, died within one hundred eighty (180) days from the date of accident, an Accidental Death Benefit of P 10,000 shall be paid to his beneficiaries in addition to the Basic Death Benefit, subject to the limitations below.

No accidental death benefit payment shall be made for death resulting from or caused directly or wholly, by: 

  1. Self-destruction or self-inflicted injury, or any attempt to commit them while sane or insane;
  2. Bodily or mental infirmity, hernia, ptomaine or bacterial infection (except pyogenic infection which occurs with or through an accidental cut or wound) or disease or sickness of any kind;
  3. Any injury received:

    1. while on police duty in any national or local police or armed forces organization or civilian defense forces;
    2. while participating in any brawl, or caused by war, whether declared or undeclared, strike, riot, civil war, revolution, insurrection, rebellion, or any war-like operation, or any violation or attempt of violation of the law or resistance to arrest; murder or provoked assault;
    3. while traveling in any form of underwater transportation, or engaging in any underwater operation or activity;

  4. an accident occurring while or because the Member is affected by alcohol;
  5. any occupational hazard, as in the case of miners, loggers, public utility vehicle drivers, crew members of vessels or aircraft, detectives, professional athletes, jockeys, casino workers, firefighters, fishermen, seamen, overseas contract workers, high-rise construction workers, and policemen or any occupation of similar hazard;
  6. sports or avocation hazard, as in the case of any motor competition, sky or scuba diving, mountaineering or rock climbing, power-boating or yachting beyond five (5) kilometers of coast line, hunting, parachuting, bungee-jumping, and other forms of extreme sports;
  7. Medical, surgical or dental treatment of any kind, or the administration, injection or taking, accidentally or otherwise, of any drug, sedative or other medication except when such treatment or medication is required as a result of an accident;
  8. Atomic energy explosion, nuclear fission, or radiation of any nature whatsoever; or
  9. Pregnancy, abortion, miscarriage, childbirth and/or any of its/their complications.

EQUITY VALUE. Fifty percent (50%) of the basic contribution of the Member shall form part of his Equity Value. The Equity Value shall earn interest as declared by the Association but in no case lower than the average deposit interest rate that the top three (3) banks in the country offer for their savings deposit. The Equity Value shall also share in the divisible surplus, if any, of the Association.

The Member may withdraw his Equity Value upon surrender of his certificate.

CONTRIBUTION LOAN.  Any contribution due remaining unpaid at the end of the Grace Period is automatically paid as a loan against the Equity Value. The loan together with interest is payable on or before his next contribution due date, but if it is not paid, both loan and interest automatically becomes a new loan on such contribution due date on which interest will be charged at the rate in effect from that date.

When the Equity Value less any indebtedness becomes less than the contribution due, the Certificate of Membership shall continue only for the proportion of a year which the Equity Value less the indebtedness bears to fifty percent of the annual contribution. The Member shall be informed in writing of the remaining term of coverage.

All loans and their interest are deducted automatically from any amount payable under the Certificate of Membership.  The Certificate of Membership automatically terminates if the total debt of a Member exceeds his Equity Value.

SUICIDE. The death benefit shall not be compensable if the Member commits suicide within one (1) year from the effective date of his Certificate of Membership or of its last reinstatement; provided however that suicide committed in the state of insanity is compensable regardless of the date of commission.

Where the suicide is not compensable, the liability of the Association is limited to the refund of the contributions that is actually received without interest less all indebtedness under the account of the Member.


CONTRIBUTIONS. Upon membership in the Association and contribution due dates thereafter, each Member shall pay contributions to the Association in any of the following manner:

Mode of Payment

Contribution Rate


P 360.00


P 180.00


P 90.00


P 30.00

The mode of payment shall be as chosen by the Member in his application form. The Member may change the mode of payment by submitting a written notice to the Association. The contribution due dates shall be based on the effective date of membership and the mode of payment chosen.

GRACE PERIOD. A member who fails to pay his contributions and premiums after the first shall be given a grace period of sixty (60) days within which to pay them. Any unpaid contribution or premium shall be deductible from the benefits that may become payable during the grace period. 

If the contribution remains unpaid until the end of the grace period, the Certificate of Membership shall automatically terminate except as provided in the Contribution Loan provision.


ADDITIONAL BENEFITS. A Member, upon his application for membership in the Association, may avail of additional death and accidental death benefits in multiples of P 10,000.00.

The approved optional benefits shall be indicated in the Certificate of Membership.

All applicable provisions in these rules and regulations shall apply to these optional benefits unless otherwise stated in this section (Section IV).

PREMIUMS. Premiums shall be collected from the Member for each additional P 10,000 of death and accidental death benefit in accordance with the following schedule:


Premium Rate






Below 35

P 48.00

P 24.00

P 12.00

P 4.00

35 – 44

P 60.00

P 30.00

P 15.00

P 5.00

45 – 59

P 156.00

P 78.00

P 39.00

P 13.00

60 and up

P 264.00

P 132.00

P 66.00

P 22.00

No part of the premium shall go to the Member’s Equity Value. 

MAXIMUM OPTIONAL BENEFIT. For each Member, the maximum optional benefit shall not be more than one thousand (1,000) times the daily minimum wage rate for non-agricultural workers in Metro Manila nor the maximum amount set by the Association.

MAXIMUM PREMIUM. For each Member, the maximum premium computed on a daily basis shall not exceed seven and a half percent (7.5%) of the current minimum wage rate for non-agricultural workers in Metro Manila. 

TERMINATION OF OPTIONAL BENEFITS.  The optional benefits shall automatically terminate:

  1. if membership in the Association is terminated;
  2. if the Member reaches his sixty-fifth (65th) birthday; or
  3. if the premium remains unpaid at the end of the grace period.

Termination of the optional benefits shall not defeat any claim arising before such termination. Once terminated, further payments or acceptance of any premium shall not create any liability under these optional benefits other than to refund the same.


BENEFICIARIES. A Member shall have the right to designate anybody, not disqualified by law, as his beneficiary or beneficiaries, and may at any time, designate new beneficiary or beneficiaries by filing a properly completed written request on a form satisfactory to the Association. Such change shall take effect only when recorded in writing by the Association at its Home Office but without prejudice to the Association on any payment made before receipt of such notice.

The death benefit shall be payable to the Member’s designated beneficiary or beneficiaries, if surviving; or if there be no beneficiaries designated or surviving at the death of the Member, to the surviving class of the following classes of successive preference beneficiaries:

      The Member’s:

  1. widow or widower
  2. surviving children born to or legally adopted by the member
  3. surviving parents 
  4. surviving brothers and sisters
  5. executors and administrators

Surviving beneficiaries in the same beneficiary classification share equally in the death benefit proceeds for that beneficiary classification, unless otherwise specified.

FILING OF CLAIM. A claim for death benefit shall be filed with the Association’s office within six (6) months after death of a Member or in case of accidental death, within thirty (30) days from the date of accident causing the death, or as soon thereafter as is reasonably possible. Failure to comply within the time provided shall not invalidate nor reduce the benefit if it was given as soon as was reasonably possible.

The claim should be accompanied with the appropriate proofs in accordance with the prevailing guidelines of the Association and the Insurance Commission. 

PAYMENT OF CLAIM. Claims shall be paid within ten (10) working days from receipt of complete documents. The Association shall establish procedures and guidelines to deliver the benefit payments, in full or in part, earlier than the period stated above to enable the family or beneficiaries of the Member to meet urgent burial needs.