• Dollar Diversity Balanced Fund (USD Balanced)
    Purchase: 1.25394
    Redemption: 1.24140
    as of Jan. 26, 2021
  • Dollar Diversity Growth Fund (USD Equity)
    Purchase: 1.22818
    Redemption: 1.21590
    as of Jan. 26, 2021
  • Dollar Conservative Fund (Fixed Income)
    Purchase: 1.19556
    Redemption: 1.18360
    as of Jan. 26, 2021
  • Dollar Standby Fund (Money Market)
    Purchase: 1.05690
    Redemption: 1.05690
    as of Jan. 26, 2021
  • Peso Moderate Fund (Balanced)
    Purchase: 1.02283
    Redemption: 1.01260
    as of Jan. 26, 2021
  • Peso Dragon Equity Fund (Equity)
    Purchase: 1.09778
    Redemption: 1.08680
    as of Jan. 26, 2021
  • Peso Equity Index Fund (Equity)
    Purchase: 0.93879
    Redemption: 0.92940
    as of Jan. 26, 2021
  • Peso Aggressive Fund (Equity)
    Purchase: 0.80626
    Redemption: 0.79820
    as of Jan. 26, 2021
  • Peso Conservative Fund (Fixed Income)
    Purchase: 1.20394
    Redemption: 1.19190
    as of Jan. 26, 2021
  • Peso Standby Fund (Money Market)
    Purchase: 1.09170
    Redemption: 1.09170
    as of Jan. 26, 2021
  • Natixis Best of U.S. Sectors Fund
    Purchase: N/A
    Redemption: 1,075.30000
    as of Jan. 26, 2021
  • Global Brands Select Fund
    Purchase: N/A
    Redemption: 1,332.00000
    as of Jan. 26, 2021

FAQs

 

 

 

 

Life Insurance Options

What is the right plan for me?

BDO Life offers you a wide range of peso and dollar-denominated life insurance products to create a secure future for you and your family.

 

To help you decide in selecting the insurance plan that fits your needs and is most beneficial to you and your loved ones, our BDO Life Financial Advisors (FAs) are always ready to assist you. Feel free to approach them in any BDO branch or for your convenience, click here to fill out the form and an FA will immediately call you.

 

Beneficiaries

Who can be my beneficiary/ies?

A beneficiary is a person or entity named in the life insurance policy entitled to receive policy benefits upon approval of a death claim.

 

The most common beneficiary designated are immediate family members or, in some cases, business partners.

 

It is important to note that the following cannot be designated as beneficiary/ies:

  • ● Person/s guilty of adultery or concubinage;
  • ● Person/s found guilty of the same criminal offense, where the insurance is part of the consideration for committing such offense;
  • ● Public officers, his/her spouse, descendants or ascendants when the designation was made by reason of the public officer’s office.
     

 

Non-Forfeiture Options (Traditional Policies)

I have a traditional life insurance policy with BDO Life (not variable life) and been paying my premiums for several years but can no longer continue paying for it. What options do I have to keep my policy active?

Upon filling out the application for insurance, you have made a choice what happens in case you stop paying your premiums. Among the possible premium default options available to your policy are as follows:

 

  • ● Reduced Paid-Up Insurance – Use your policy's net cash value to purchase a paid-up insurance plan similar to your original policy albeit with a new coverage amount smaller than that of your original policy.
     
  • ● Extended Term Insurance – Use your policy's net cash value to pay for a term insurance plan with the same amount of coverage as your original policy but with a protection period which may be shorter than your policy’s original term.
     
  • ● Premium Loan – You may take out a loan against the policy's cash value to pay for your overdue premium. This will keep the original policy in force for the full amount of coverage, as long as the cash value is sufficient to pay for the due premiums. However, should the loan amount (inclusive of interest charges) exceed the policy's cash value, the policy will lapse. Please note that any balance of your premium loan will be deducted from the proceeds of your insurance.
     
  • ● Cash Surrender Value – You may surrender your policy for its accumulated cash surrender value, if any.
     
  • ● You may change the Premium Default Option of your policy by filling out the Policy Amendment Form.


 

 

Dividend Options

What are my dividend options?

A Policy Owner of a participating policy shares in the profit that may arise from his policy, as determined by the Company. Policy dividends may become available as of each policy anniversary date beginning not later than the end of the third policy year.  Upon filling out the application for insurance, you have made a choice as to how policy dividends will be used.  Among the possible dividend options available to your policy are as follows
 

  • ● Paid in Cash to the Policy Owner - Under this option, the Policy Owner may take the dividend as cash payment and will receive his dividends as declared by the Company annually in the form of check or can be automatically credited to his nominated BDO Current and Savings Account. You may download the enrolment form here.
     
  • ● Applied to any Premium Due - This option automatically applies the earned dividends to pay part of all of the premiums due.  As a result, the amount of premium appearing on the premium notice will be lower. Any excess will be paid to the Policy Owner.
     
  • ● Left to Accumulate with Interest - The Policy Owner leaves the dividends to accumulate with interest at the rate specified by the Company.  With this option, Dividend Accumulation will be combined with the cash values whenever the latter are to be applied.
     
  • ● Purchase Additional Paid-Up Insurance - The dividends under this option will be used to purchase a non-participating paid up insurance in addition to the original sum insured of the policy.  The amount of coverage, therefore, increases without increasing the premiums.
     
  • ● You may change the Dividend Option of your policy by filling out the Policy Amendment Form.
     

 

Grace Period

I was not able to pay my policy's premium on its due date. Does it mean my policy has already lapsed?

For Individual Life Insurance - your policy has a 31-day grace period. You may still pay your premium within 31 days from its due date.

 

Policy Status

What’s my policy status?

You may reach out to your servicing Financial Advisor or you may call our Customer Service Hotline at (632) 8885-4110 or 1-800-1888-6603 (Toll Free) from Monday to Friday (excluding holidays) between 8:00 AM to 6:00 PM.

 

Premium Payment

For Individual Life Policies (ie Traditional, Variable Life):

How to fill out over-the-counter BDO Bills Payment Slips?

If paying through BDO's Bills Payment Facility, please use the following information:

For Peso (Php) payments:
                    Company Name:  BDO Life Assurance Company, Inc.
                    Institution Code:  0048
                    Product Code:  N/A
                    Subscriber’s Name:  Policy Owner’s Name
                    Subscriber's Account No.:  Policy No. (i.e S-xxxxxxxx-2-1)

 

For Dollar (USD) payments:
                    Company Name:  BDO Life Assurance Company, Inc.
                    Institution Code:  0080
                    Product Code:  N/A
                    Subscriber’s Name:  Policy Owner’s Name
                    Subscriber's Account No.:  Policy No. (i.e S-xxxxxxxx-2-1)

 

Click here for payment channel options and instructions on how to pay your Individual Life Due Premiums
 

How to enroll in Auto-Debit Arrangement?

What is Auto-Debit Arrangement?

By enrolling in our Auto Debit Arrangement payment facility, payment for your premiums will be automatically deducted from your nominated BDO account. This is a convenient way to pay your insurance premiums.

 

Step 1: Prepare the following Requirements

  • Policy Amendment Request Form (PARF) completely filled out and originally signed by the Policy Owner, Irrevocable beneficiary, if any.
  • ● Clear Photocopy of any valid government issued ID with visible signature; three (3) specimen signatures of the Policy Owner and Irrevocable Beneficiary/ies (if there is one/ are any) – must be seen and verified by the Financial Advisor.
  • ● BDO Auto-Debit Arrangement (ADA) Enrollment Form – Two (2) Copies, completely filled out and originally signed by the Policy Owner.
    (Note: Client must also sign at the bottom part of second page as acknowledgment for ADA Terms & Conditions. Branch officers must also sign on the BDO ADA enrollment form)
  • ● If account name is under a Company name, both Company name & signatory must be indicated on the account name field.
  • ● If the account is an ‘AND’ account, the ADA form should be signed by both account holders.
  • ● If the account name is ‘BY’ or ‘IN TRUST FOR’, both the name and trustee must be indicated on the account name field.


Note: Only peso policy / peso accounts are accepted.  Bank account under minor (below 18 of age) are not qualified for enrollment.


Step 2: Submit the requirements

  • ● You may submit the requirements to your servicing Financial Advisor or to any FA stationed in the branch near you.


*Processing time for this request takes 10 banking days.

How to enroll in Recurring Payment Scheme/ Auto-Charge?

What is Recurring Payment Scheme/Auto-Charge?

By enrolling in our Recurring Payment Scheme/Auto-Charge payment facility, payment for your premiums will be automatically deducted from your nominated credit card. This is another way to pay your insurance premiums.

Step 1: Prepare the following Requirements

  • Policy Amendment Request Form (PARF) completely filled out and originally signed by the Policy Owner, Irrevocable beneficiary, if any.
  • ● Clear Photocopy of any valid government issued ID with visible signature; three (3) specimen signatures of the Policy Owner and Irrevocable Beneficiary/ies (if there is one/ are any) – must be seen and verified by the Financial Advisor.
  • BDO Recurring Payment Scheme /Auto-Charge Form –  completely filled out and originally signed by the Policy Owner.
  • ● Copy of credit card (front only)

*Processing time for this request takes 5 banking days.
 

For Group Life Policies (ie Mortgage Redemption Insurance, Voluntary Group):

How do I pay for my group life insurance premiums (MRI, voluntary group)?

Click here for instructions on how to pay your BDO Home Loan MRI Premiums

 

1.    How to fill out over-the-counter BDO Bills Payment Slips if I want to pay my group life insurance premiums (MRI, voluntary group)?

If paying through BDO's Bills Payment Facility, please use the following information:
                    Company Name:  BDO Life Assurance Company, Inc.
                    Institution Code:  0633
                    Product Code:  N/A
                    Subscriber’s Name:  Name of Insured
                    Subscriber's Account No.: (e.g. 2800000000 or 1700000000)

 

IMPORTANT NOTE: Please be informed that posting of your Group Life insurance premium payments will happen after 3 banking days.

 

 

Policy Surrender

How to surrender a policy?

Step 1: It would greatly help if you know the current cash value / fund value of your policy

You may reach out to your servicing Financial Advisor or call our Customer Service Hotline at (632) 8885-4110 or 1-800-1888-6603 (Toll Free) from Monday to Friday (excluding holidays) between 8:00 AM to 6:00 PM. You will be provided of your policy’s cash value / fund value amount, which you need to indicate in the Policy Surrender Form.

 

Step 2: Prepare the following Requirements

  • ● Surrender of Policy form signed by the Policy Owner, Irrevocable beneficiary, if any (originally signed)

For Variable Life Policies: VL Insurance Policy Withdrawal Surrender Request Form
For Traditional Policies: Life Insurance Policy Surrender Request Form

  • ● Original Policy Contract - if lost, Notarized Affidavit of Loss
  • ● Photocopy of any valid government issued ID of:
          o Policy Owner, and Irrevocable Beneficiary/ies - if there is one/ are any, and Life Insured (if legal age) – must be seen and verified by the Financial Advisor.
  • ● If proceeds will be credited other than Policy Owner (immediate family members only) Letter of Authorization to credit signed by Policy Owner & bank account owner.
  • ● If policy is assigned, consent of the Assignee is required (release of assignment form)
  • ● If Policy Owner is residing abroad, the Policy Surrender form should be duly notarized by the Philippine Consul is required (Red Ribbon Certificate)


Step 3: Submit the requirements

You may submit the requirements to your servicing Financial Advisor or to any FA stationed in a BDO branch near you.

 

 

*Processing time for this request takes 7 banking days.
 

 

Death Claim

How to file a Death Claim?

For Individual Life Policy

Step 1: Fill out the “Claim Notification” request form by clicking this link.

 

Step 2: Prepare the following Requirements and follow the instructions after getting the Auto-Reply email from BDO Life

● Death Certificate – (Original issued by PSA or Certified True Copy by Local Civil Registry Office) In case the death of the life insured occurred outside of the Philippines, the Death certificate must be authenticated by the Philippine Consular Office in the country/state where death took place.

● Claimant’s Statement – To be filled out by each of the designated beneficiaries, and/or the Trustee/Guardian of the minor beneficiary/beneficiaries (one form for each beneficiary or trustee). Download forms here:

     Claimant's Statement-Death Claim P1

     Claimant's Statement-Death Claim P2

● Marriage Contract (Original, issued by PSA) – This is required if a designated beneficiary is the spouse of the Insured

● Valid Government Identification Document (IDs) of the Beneficiary/Beneficiaries and Trustees if any

 

In case the death of the Insured occurred within two (2) years from policy issue date or date of last reinstatement, the following are additional required documents:

 ● Attending Physician’s Statement/s –This must be accomplished by the Physician/s who attended to the Insured. The form should be duly notarized and accompanied by records of any laboratory & diagnostic procedures performed.

 ●Copy of Insured’s Medical Records

 

Note: Additional documents may still be required when necessary to process the claim. Please note that any document(s) that originate(s) outside the Philippines must be authenticated by the Philippine Consular Office in the country/state of issuance.

 

Step 3: Submit the scanned copies of the requirements via email to claims@bdolife.com.ph.You will receive feedback from our Claims team within five (5) banking days.
 

For Mortgage Redemption Insurance

Step 1: Fill out the “Claim Notification” request form by clicking this link.

 

Step 2: Prepare the following Requirements and follow the instructions after getting the Auto-Reply email from BDO Life

 ● Death Certificate – (Original issued by PSA or Certified True Copy by Local Civil Registry Office) In case the death of the life insured occurred outside of the Philippines, the death certificate must be authenticated by the Philippine Consular Office in the country/state where death took place.

 ● Certificate of Employment if the Insured was employed; or Copy of Business Permit / Registration if the Insured was a business owner.

 ● Claimant’s Statement – To be filled out by each of the designated beneficiaries, and/or the Trustee/Guardian of the minor beneficiary/beneficiaries (one form for each beneficiary or trustee). Download forms here:

     Claimant's Statement-Death Claim P1

     Claimant's Statement-Death Claim P2

 ● Marriage Contract (Original, issued by PSA) – This is required if a designated beneficiary is the spouse of the Insured

 ● Valid Government Identification Document (IDs) of the Beneficiary/Beneficiaries and Trustees if any

 ● Affidavit of Declaration - If there is no designated beneficiary in the application form, the surviving heir/s are required to execute and submit a notarized Affidavit of Declaration and proof of relationship (e.g. Marriage Certificate for spouses, Birth Certificate if the heirs are children of the insured, etc). Please note that the payment of death benefits shall be in accordance with the “Order of Preference” provision as stated in the Policy Contract.

 

In case the death of the Insured occurred within two (2) years from policy issue date, the following are the additional required documents:

 ● Attending Physician’s Statement/s –This must be accomplished by the Physician/s who attended to the Insured. The form should be duly notarized and accompanied by records of any laboratory & diagnostic procedures performed.

 ● Copy of Insured’s Medical Records

 

Step 3: Submit the scanned copies of the requirements via email to claims@bdolife.com.ph.  You will receive feedback from our Claims team within five (5) banking days.

 

For any other Claims related inquiries, feel free to email us at claims@bdolife.com.ph or give us a call at these numbers: +632 – 8 885 4019, +632 – 8 885 4180, +632 – 8 8854126
 

 

Policy Loan

How to file a loan?

Can I take a loan against my policy?

If your policy has an available net cash surrender value, you may apply for a policy loan. 

 

Step 1: Know if your policy is eligible for policy loan.

You may call our Customer Service Hotline at (632) 8885-4110 or 1-800-1888-6603 (Toll Free) from Monday to Friday (excluding holidays) between 8:00 AM to 6:00 PM. You will be provided of the maximum amount you can borrow from your policy. The amount to be indicated in the Policy Loan Application Form should not exceed the maximum amount.

 

Step 2: Prepare the following Requirements

Policy Loan Application Form signed by the Policy Owner and Irrevocable Beneficiary/ies, if there is one/ are any (originally signed)
● Photocopy of any valid government issued ID of Policy Owner, and Irrevocable Beneficiary/ies if there one/ are any – must be seen and verified by the Financial Advisor.
● Photocopy of valid ID of Life Insured, if legal age already – must be seen and verified by Financial Advisor.
● If proceeds will be credited other than Policy Owner (immediate family members only) Letter of Authorization to credit signed by Policy Owner & bank account owner.
● If policy is assigned, consent of the Assignee is required. Pls refer to the bottom part of the Policy Assignment Form – Release of Assignment
● If Policy Owner is residing abroad, the Policy Loan form should be duly notarized by the Philippine Consul is required (Red Ribbon Certificate)

 

Step 3: Submit the requirements

You may submit the requirements to your servicing Financial Advisor or to any FA stationed in a BDO branch near you.

 

*Processing time for this request takes 7 banking days.
 

 

Policy Reinstatement

How do I reinstate my policy?

I was informed that my policy had lapsed, what should I do?

 

You may still reinstate your policy within 3-years from date of lapsation. Please note however that your reinstatement request will still be subject to underwriting and approval.

 

Step 1: Know the amount you need to settle to reinstate the policy

You may reach out to your servicing Financial Advisor or call our Customer Service Hotline at (632) 8885-4110 or 1-800-1888-6603 (Toll Free) from Monday to Friday (excluding holidays) between 8:00 AM to 6:00 PM. You will be provided of the reinstatement amount which you need to pay via over the counter or BDO online banking.

 

Step 2: Prepare the following Requirements

 

Step 3: Submit the requirements

You may submit the requirements to your servicing Financial Advisor or to any FA stationed in a BDO branch near you.

 

 

*Processing time for this request takes 10 banking days.
 

 

Auto-Credit Arrangement

How do I enroll in Auto-Credit Arrangement?

When you enroll in our Auto Credit Arrangement (ACA), your policy benefits get directly credited to your nominated BDO account.  This is a fast and efficient way to get your policy benefits instead of receiving a check by post.

 

Step 1: Prepare the following Requirements

  • ● Fill out completely the Direct Credit Facility Form
  • ● Clear photocopy of any valid government issued ID of (both) the Policy Owner and Irrevocable Beneficiary/ies (if there is one/ are any)

 

Step 2: Submit the requirements

Kindly email scanned copies of your requirements to BDOLife-ILO-CS-CSS@bdolife.com.ph

 

 

*Processing time for this request takes 5-7 banking days.

 

Updating of Name and Contact Information

How do I update my name and contact information?

I got married last year and moved to a new home. How do I update my name and contact details in your records?

 

Option 1: Prepare and submit the following requirements

  • Policy Amendment Request Form (PARF) completely filled out and originally signed by the Policy Owner
  • ● If newly married, clear photocopy of NSO issued Marriage Certificate
  • ● Clear Photocopy of any valid government issued ID with visible signature of Policy Owner and Irrevocable Beneficiary/ies (if there is one/ are any) – must be seen and verified by the Financial Advisor.

 

You may submit the requirements to your servicing Financial Advisor or to any FA stationed in the branch near you.

 

OR

 

Option 2: Amendment via phone or email

You may call our Customer Service Hotline at (632) 8885-4110 or 1-800-1888-6603 (Toll Free) from Monday to Friday (excluding holidays) between 8:00 AM to 6:00 PM or send us an email to we-care@bdolife.com.ph

 

 

*Processing time for this request takes 5 banking days.

 

 

Policy as Loan Requirement

How to assign my policy as loan requirement?

I recently took out a loan from a bank and a life insurance to cover my loan is among the loan requirements. Can I assign my BDO Life insurance policy for this purpose?

 

If allowed and accepted by the bank, your individual life insurance policy may be assigned in favor of the bank to cover your loan.

 

Step 1: Prepare the following Requirements

  • Policy Amendment Request Form (PARF) completely filled out and originally signed by the Policy Owner, Irrevocable beneficiary or Assignee (if there is one/ are any)
  • ● Clear Photocopy of any valid government issued ID with visible signature of Policy Owner and Irrevocable Beneficiary/ies (if there is one/ are any) – must be seen and verified by the Financial Advisor.  
  • ● Notarized Assignment of Policy Form originally signed by the Policy Owner, Assignee, Witness and Irrevocable Beneficiary/ies (if there is one/ are any)
  • ● Original Policy Contract
  • ● Clear Copy of Loan Agreement from the bank
  • ● If Loan is with BDO (assignee), annual mode and ADA/RPS payment method is required. Other mode of payments requires prior approval from the Consumer Lending Group (the lending arm of BDO)

 

Step 2: Submit the requirements

You may submit the requirements to your servicing Financial Advisor or to any FA stationed in the branch near you.
 

 

Release of Policy Assignment

How to release assignment of my policy?

Step 1: Prepare the following Requirements

  • Policy Amendment Request Form (PARF) completely filled out and originally signed by the Policy Owner, Irrevocable beneficiary or Assignee (if there is one/ are any)
  • ● Clear Photocopy of any valid government issued ID with visible signature of Policy Owner and Irrevocable Beneficiary/ies (if there is one/ are any) – must be seen and verified by the Financial Advisor.  
  • ● Notarized Release of Policy Assignment Form signed by the Policy Owner, Assignee, Witness and irrevocable Beneficiary/ies (if there is one/ are any). Pls refer to the bottom part of the Policy Assignment Form – Release of Assignment)
  • ● SEC certificate with authorized signatories is required for BDO and Non-BDO bank clients. A clear photocopy of any valid government ID of the authorized signatories is/ are required.
  • ● Certificate of Fully Paid Loan from the bank along with a copy of the lender’s board resolution or secretary’s certificate stating the authorized signatories

 

Step 2: Submit the requirements

You may submit the requirements to your servicing Financial Advisor or to any FA stationed in the branch near you.