Plan and save for retirement through the Endowment at 56
The Endowment at 56 plan is regularly discussed among the new Police Officers 1. This plan provides insurance protection and investment as it gives a police personnel the opportunity to plan and invest for the future and at the same time being insured while on duty. The E-56 primarily aims to bridge the three-year gap from the time a policeman retires from the active service up to the time he receives his monthly pension from the PNP. With this feature, a retiree is still assured of a regular income while waiting for his monthly pension.
An E-56 policy holder is entitled to a Maturity Benefit or Sum Assured which can go as high as P3M upon reaching the age of 56. The Sum Assured also represents the policy holder’s insurance benefit in case of death which will be given to his/her beneficiaries.
E-56 also provides other privileges such as: additional insurance benefit to the beneficiaries of the policy holder if the cause of death is accident, waiver of premium payment in case the policy holder suffers total and permanent disability due to sickness or accident and policy loan up to 90% of the policy holder’s Cash Surrender Value.