Public Safety Mutual Benefit Fund Inc.

PSMBFI releases insurance benefits to families of the Fallen44

The Public Safety Mutual Benefit Fund, Inc. (PSMBFI) released the initial payment of benefits to the families of the 44 Special Action Force (SAF) heroes who were killed in a bloody clash in Mamasapano town in Maguindanao last January 25, 2015.
The initial payment of insurance claims were immediately processed after reports were obtained from the Philippine National Police (PNP) headquarters.  The checks were personally handed by PSMBFI President Mario Avenido to the beneficiaries at Camp Bagong Diwa in Taguig last January 30, 2015.
Of the deceased commandos, 40 were members of PSMBFI, entitling their families to insurance proceeds with amounts varying from P380,000 to P825,000, depending on the rank of the deceased member and the plans they enrolled in.  The necessary assistance is being extended to the families for the completion of the required documents and the payment of the full amount of the insurance claim.
The families of four non-PSMBFI members received the initial payment of insurance proceeds from the mandatory Special Group Term Insurance, while the 14 injured members from the SAF received Wounded in Action Benefits from the fund.
PSMBFI was organized by the PNP leadership in 1998 to be the insurance provider of the personnel from the PNP and other public safety agencies.