Do you have a BPI Direct Save-Up account? You should have! It offers automatic savings and insurance benefits. You’re availing of the advantages of “forced benefits” right now while you’re still alive – as for the insurance benefits, your loved ones will experience them when you’re already reached your demise.
Yes, I’m such a romantic soul.
Does your family know how to claim the insurance benefits once you leave the world of the living? This article helps them do so:
|Life insurance is your family’s umbrella.
Coverage of BPI Direct Save-Up account:
As a recap, the kind of insurance that the BPI Direct Save-Up offers is the life insurance. According to them, you:
While this is all fine and dandy, though, your family should still be aware of the process of claiming the actual benefits. Because I’m still happily alive, there’s no way for me to explain this guide from experience. Therefore, I asked BPI Direct for their insight.
How to Claim BPI Direct Save-Up Insurance Benefits from BPI-Philam:
In the event of your untimely demise, your beneficiary is instructed to:
- Call BPI’s customer hotline, 89100, to file for an insurance claim. He/She will then be provided with the list of required documents.
- Required documents may be in the form of death certificate of the insurance holder, claimant’s statement, birth certificate or marriage certificate, among others. BPI will tell you the exact list of requirements in your case, though, as it will be on a case-to-case basis.
- After which, the documents must be submitted to:
Customer Service Department, BPI-Philam Life Assurance Incorporated
12/F, Ayala Life-FGU Center,
6811 Ayala Avenue, Makati
After they have confirmed that they’ve accepted the documents, the insurance proceeds will be released to your beneficiary after 35 banking days – provided that the documents submitted are complete, though.
The insurance coverage takes effect upon the date of account opening and it will be deemed terminated on the first day of the 61st birth month of the Insured (account holder) or upon account closure of the account.
There! Isn’t the process of claiming BPI Direct Save-Up insurance benefits from Ayala Life simple enough?
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