Public Safety Mutual Benefit Fund Inc.

PSMBFI turns over P3.1M SGTI check for the PNP Scholarship Program

On March 9, 2015, the Public Safety Mutual Benefit Fund, Inc. (PSMBFI), represented by President Mario A Avenido and Vice President Bernardo C Florece, Jr., turned over the Special Group Term Insurance (SGTI) Experience Refund check amounting to P3.1 million to PDDG Marcelo Garbo, Jr., Chief of the Directorial Staff, and PCSUPT Wilfredo Franco of the Directorate for Personnel and Records Management of the Philippine National Police, in support of the PNP Scholarship Program.
As a mutual benefit insurance association, PSMBFI not only pays life insurance and accidental death and disability claims but it also provides Accident Hospitalization, Wounded-in-Action and Killed-in-Action Benefits to qualified members.
PSMBFI was created in 1997 to provide life insurance for employees of public safety institutions after Congress passed Republic Act 8291 which excluded policemen, among others, from the mandatory insurance coverage of the Government Service Insurance System.