• Dollar Diversity Balanced Fund (USD Balanced)
    Purchase: 1.08626
    Redemption: 1.07540
    as of Jan. 26, 2023
  • Dollar Diversity Growth Fund (USD Equity)
    Purchase: 1.08576
    Redemption: 1.07490
    as of Jan. 26, 2023
  • Dollar Conservative Fund (Fixed Income)
    Purchase: 1.06081
    Redemption: 1.05020
    as of Jan. 26, 2023
  • Dollar Standby Fund (Money Market)
    Purchase: 1.02750
    Redemption: 1.02750
    as of Jan. 26, 2023
  • Peso Moderate Fund (Balanced)
    Purchase: 1.03455
    Redemption: 1.02420
    as of Jan. 26, 2023
  • Peso Dragon Equity Fund (Equity)
    Purchase: 1.14263
    Redemption: 1.13120
    as of Jan. 26, 2023
  • Peso Equity Index Fund (Equity)
    Purchase: 0.93949
    Redemption: 0.93010
    as of Jan. 26, 2023
  • Peso Aggressive Fund (Equity)
    Purchase: 0.85303
    Redemption: 0.84450
    as of Jan. 26, 2023
  • Peso Conservative Fund (Fixed Income)
    Purchase: 1.12566
    Redemption: 1.11440
    as of Jan. 26, 2023
  • Peso HealthTech Fund (Global Equity)
    Purchase: 0.98707
    Redemption: 0.97720
    as of Jan. 26, 2023
  • Peso Standby Fund (Money Market)
    Purchase: 1.10000
    Redemption: 1.10000
    as of Jan. 26, 2023
  • Global Brands Select Fund
    Purchase: N/A
    Redemption: 1,397.20000
    as of Jan. 24, 2023
  • Natixis Best of U.S. Sectors Fund
    Purchase: N/A
    Redemption: 1,111.28100
    as of Aug. 09, 2022



Mortgage Redemption Insurance

What is MRI?

MRI (Mortgage Redemption Insurance) is a form of insurance, the benefits of which, when payable, is used to pay the outstanding home loan of the insured.  Having a mortgage loan insurance is typically required by banks when granting home loans.  In case of death of the borrower, having an MRI avoids foreclosure of the mortgaged property at a time when financial support is needed most.  Any life insurance benefits in excess of the outstanding loan will be payable to the borrower’s beneficiaries.



Who can be my beneficiary/ies?

For MRI, a beneficiary is a person who is entitled to receive the excess insurance benefits, if any, after paying the outstanding loan of the borrower.
If there’s no declared beneficiary in the application form, the following shall be deemed designated, in the order named below, where two or more of the same class shall share equally:

  • Surviving legal spouse
  • Surviving legitimate, legitimated and legally adopted children
  • Surviving illegitimate children known and recognized at the time of the Insured Debtor’s death;
  • Surviving parents
  • Surviving brothers and sisters of full blood
  • Surviving brothers and sisters of half blood
  • Estate

Note: Any amount payable to minors shall be settled in a manner in accordance with the law.


Mortgage Redemption Insurance VS Fire Insurance

Is the requirement to have an MRI to cover my Home Loan different from the requirement to have a Fire Insurance?

Yes, Mortgage Redemption Insurance (MRI) is different from Fire Insurance. Fire Insurance are customarily handled by BDO Insure, separate from BDO Life.

If your Fire Insurance was provided by BDO Insure and you have questions about it, you may send an email to BDO Insure at bdo-insure@bdo.com.ph or call 8-838-2364, Toll free number: 1-800-10-8382364.


Coverage and Premium Payment Period

How long should I be covered with MRI?

Your initial insurance coverage is for one year and is renewable every year until your loan is fully paid. Upon renewal, the amount of your insurance coverage will change based on your updated loan balance at the time when the renewal premium notice was prepared. As proof of your insurance coverage, BDO Life provides a Statement of Insurance, which contains details of your insurance coverage.


Grace Period

I was not able to pay my policy's premium on its due date. Can I still pay?

Mortgage Redemption Insurance has a 31-day grace period. You may still pay your premium within 31 days from premium due date.


Non – payment of Premiums

What will happen if I fail to settle my premium and my grace period already ended?

Please note that your loan agreement with BDO requires you to secure a credit life insurance or mortgage redemption insurance to cover your loan balance. In case you missed your premium payment, BDO may pay your insurance premium and:

  1. Debit the amount from your account, or
  2. Require immediate payment, or
  3. Add the amount to your loan and make it a part of the loan, bearing the same interest rate as stipulated in your loan agreement. This may delay the release of collateral.


Policy Status

What’s my policy status?

If you want to know the current status of your policy, 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.


Renewal of Coverage

Will I get notifications regarding the renewal of my MRI coverage?

Yes. BDO Life will send you a renewal notice by post and electronic mail, 60 days prior to your renewal month. This notice contains your premium amount due, coverage amount and other details relating to your insurance. We may also send premium due reminders through SMS and/or call.

Upon payment of your renewal premiums, BDO Life will send you a new Statement of Insurance, which contains details of your renewed insurance coverage.


Premium Computation

How much is my premium?

Premium computation is based on the age and the outstanding loan balance of the loan borrower. Your premium is indicated in your premium notice.

Why is my premium higher as I turned 50 years old?

BDO Life’s MRI program for BDO home loan clients uses two rate class, namely, (1) For ages 49 and below and (2) For ages 50 and above, with the latter being higher due to a higher mortality for the older age class. Hence, your MRI premium may become higher once reach 50 years old, even if your loan balance has decreased.


Premium Payment

How to settle my MRI Premium?

The initial premiums for your first year of insurance coverage is normally settled when your loan is granted. However, for renewal of insurance coverage, you may settle your renewal premiums through any of the payment facilities.

How to pay in Cash?

A. If paying through over-the-counter – 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:  <Assured's Name>

Subscriber's Account No.: <Input the 10-digit payment reference number indicated in your renewal advice, i.e 288xxxxxxx>


B. If paying via BDO Online Banking, enroll and pay bills using the information below

Pay from: Subscriber Savings/Checking Account No.

Pay this Company/Biller: BDO LIFE - MRI (10-digit payment reference number i.e 288xxxxxxx) 

Amount: <Amount to be paid>

Remarks: <Coverage Period, i.e NOVEMBER 2018-2019>

Subscriber’s Account No: <Input the 10-digit payment reference number indicated in your renewal advice, i.e 288xxxxxxx>

Subscriber Name: <Assured's Name>


Note: Your Subscriber’s Account No. or Payment Reference Number changes yearly.


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

What is BII? Can I pay my premium via BII?

BII (Built-In Insurance) is a payment method wherein your annual premium due is amortized into twelve (12) equal monthly installments at 0% and added to your monthly loan amortization. This option is applicable only to borrowers who applied for this payment option at the inception of the home loan.


Payment Posting

How long does it take for my payment to post?

Posting of payment is within 2 – 3 banking days.


Auto-Debit Arrangement

I received my renewal advice and funded my BDO savings account. When will you debit my account?

Your premium will be debited within 30 - 45 days from your premium due date.


Death Claim

How to file a Death Claim?

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 or 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 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


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 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 Cancellation / Termination

Can I cancel my MRI policy?

Your Mortgage Redemption Insurance will be terminated once the home loan is no longer outstanding. Loan Borrower must submit proof or certificate of full payment issued by BDO. Until then, an insurance to cover your home loan is required under your agreement with BDO. If you have a personal Individual Life Insurance Policy with BDO Life or any other Insurance Provider, which you wish to assign to cover your home loan instead of an MRI, you may reach out to BDO Home Loans Administration Department by sending an email to LoanServices@bdo.com.ph or visit BDO website at www.bdo.com.ph and go to Loans Services.