NEWS & PROMOTIONS

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Free Burial Benefit

Promo Period: October 19, 2020 onwards

 

Burial Benefit:

Burial Benefit Amount Cause of Death
Php 100,000

 1. For Active Personnel - If cause of death is in line of duty

 2. For Associate and Pensioners - if cause of death is while doing a heroic act

Php 50,000 If cause of death is due to natural causes

 

Promo Mechanics:

1. Any member who avails of a qualified loan starting 19 October 2020 onwards are automatically qualified to the free burial benefit program regardless of the member’s age, membership type (regular or associate), availed loan type (new or renewal), loan term and loan amount.

2. To qualify for the benefit, a member-borrower must avail a salary-deducted or pension-deducted (new or renewal) loans from October 19, 2020 onwards.

3. The following products are excluded from the list of eligible products for availment to qualify in the program, viz:

     a. Dividend Loan (DL)                                        f. Back-to-Back Loan

     b. Net Pay Loan (NL)                                          g. Collateralized Motorcycle Loan

     c. Overpayment Loan (OP)                               h. Vehicle Loan

     d. Bonus Loan                                                      i. Pre-owned Vehicle Loan

     e. Real Estate Loan  

4. Only one (1) burial benefit shall be given to the qualified member-borrower regardless of the number of loan accounts availed from the start of the program.

5. Member-borrowers who have existing loans prior to the start of the program BUT will not avail of a new loan or renew any of his/her existing loan accounts are NOT eligible to the burial benefit.

6. The burial benefit is renewed annually.  Hence, as long as the qualified member-borrower has an active loan account from the time the program started until his/her untimely demise, the burial benefit shall remain active.

7.  A qualified member-borrower’s burial benefit coverage shall be automatically discontinued subject to the following:

     a. Member-borrower pays off all existing loans; or

     b. Member-borrower has contracted a past-due account from any of his/her existing loan accounts

8. A disqualified member due to any reason as indicated in Item #6 can re-qualify to the burial benefit program provided the following:

     a. For member-borrower with a past-due account, they must settle their past dues either by availing of a new loan or renewing an existing loan account.

     b. For member-borrower with paid off loans, they must avail a new loan account to re-qualify

9. Claiming of the burial benefit shall be subject to the following parameters during the time of death, otherwise, the claim will be deemed disapproved, viz:

     a. The member-borrower must have an active loan; and

     b. The member-borrower must not have any past-due account.

     For death due to the performance of a heroic act, the burial benefit claim is still subject to the assessment and approval of the insurance company.

10. Contestability period is applicable for qualified members with ages 75 years old and above.

11. For purposes of this program, "HEROIC ACT" refers to an act of defending, protecting or helping others in need despite the risk to life of the member, and which resulted in his/her death.

12. The Burial Benefit program shall remain in effect unless otherwise suspended or terminated by the Board of Trustees.

 

Wipeout Loan Promo

Promo Period: September 16, 2020 to December 31, 2020

Promo Mechanics:

1. This promo is open to any member who will avail of a qualified loan account during the promo period. Qualified loan products are as follows:

     a. Salary/Emergency/Excess Salary Loans                      

         Min. Amount: Php 150,000                                                   

         Min. Term: 2 years                                                               

     b. Pension/Other Pension/Additional Pension Loans

          Min. Amount: Php 200,000

          Min. Term: 2 years

2. Any loan cancellations on or before the intended raffle draw date shall be disqualified in the promo. Further, members with past-due accounts and loan accounts that went past-due during the  promo period are automatically disqualified.

3. Qualified members earn one (1) eRaffle entry for every one (1) eligible loan account availed during the promo period. Members can earn as many raffle entries as they can provided, that each entry meets the required minimum requirement.

4. Raffle Prizes

     The balance of the winning loan entry will be paid off depending on the prize category as follows:

 

Prize Category Raffle Prize    Number of Winners
Grand Prize 100% of the loan account's outstanding balance 1 from NCR
    2 from Luzon
    2 from Visayas
    2 from Mindanao
2nd Prize 50% of the loan account's outstanding balance* 18 Nationwide
3rd Prize 25% of the loan account's outstanding balance*  34 Nationwide
                                                                                  TOTAL 59 Winners 

          *The 50% or 25% pay-off on outstanding balance shall be applied to the latter part of the loan term.

 

5. A member can only win once. If the member is drawn twice, the member will take on the prize with the higher value.

6. All other expenses related to the pay-off of the loan shall be shouldered by PSSLAI.

7. Winning entries will be drawn electronically during the Annual General Membership Meeting on January 2021 at the PSSLAI Head Office.

8. Winners shall authorize PSSLAI to disclose and publish his/her name and other particulars in the official PSSLAI website and other social media pages.

9. Winners will be notified via their email address, mobile, landline number as indicated in their membership cards.

10. The prize is not convertible to cash.

11. PSSLAI employees, officers, and trustees are not eligible to join in the raffle.

Inquire for a Qualified Loan HERE.

Promo Period: January 2, 2020 onwards

Promo Mechanics:

1. Promo is open to ALL Qualified PSSLAI Members

2. Qualified loan products for the promo are as follows:

                a. Salary Loan (SL)              

                b. Emergency Loan (EM)     

                c. Universal Loan (upgraded to SL or EM)                 

                d. Affordaloan (upgraded to SL or EM with additional amortization from nthp)                                    

                e. Back-to-Back Loans (BTB)

                f. Pension Loan (PL, AP, OP)

3. Qualified loan products for the promo with their parameters are as follows:

                a. New SL, EM, PL, AP or OP loan accounts with minimum loan amount of Php 275,000 AND loan terms of 3 to 5 years.

                b. Renewal SL, EM, PL, AP or OP loan accounts with minimum loan amount of Php 275,000, loan terms of 3 to 5 years AND must have paid at least the following minimum payments to qualify:

                     1. For 3 year loan term - 14 months worth of payment

                     2. For 4 year loan term - 19 months worth of payment

                     3. For 5 year loan term - 26 months worth of payment

                c. Universal Loan (AS) accounts that are upgraded to either an SL or EM with a minimum amount of Php 275,000 AND loan terms of 3 to 5 years.

                d. Affordaloan (with additional amortization from nthp) to reach the minimum amount of Php 275,000 AND loan terms of 3 to 5 years.

                e. New BTB loan accounts with minimum amount of Php 500,000 AND minimum loan term of six (6) months.

                f. Renewal BTB loan accounts with additional Php 500,000 from the original loan amount AND term of (6) months.

4. The promo is on a per loan account basis. Hence, a member can avail 1 SL and 1 EM account to get two (2) Libreng Cellphone, provided that the corresponding loan account qualifications are met ( loan type, loan amount, and loan term).

5. If the member cancels or terminates the loan account prior to its maturity, the full amount of the cellphone shall automatically be charged to the member or deducted from any of their accounts maintained in PSSLAI.

6. The Libreng Cellphone is non-convertible to cash and is not for sale by PSSLAI.

7. All Libreng Cellphones can be claimed at PSSLAI Head Office, Camp Crame Branch or at any PSSLAI Satellite Offices Nationwide.

8. A qualified member-borrower can authorize a representative to claim their Libreng Cellphone provided that the following documents are presented. viz:

                 a. Original and signed authorization letter from the qualified member-borrower

                 b. Photocopy of the member's PSSLAI ID or any government-issued ID with three (3) specimen signatures

                 c. Photocopy of the authorized representative's valid ID with three (3) specimen signatures