Membership with PSMBFI is through the Members Equity Plan (MEP), which is its main insurance plan. A member contributes 3% of his/her base pay and is provided with life insurance protection. It also allows a member to save money and build his/her Equity Value. The contribution and insurance coverage are as follows:

Schedule of Benefits for PNP Uniformed Personnel

RANK3% of Base Pay Basic Life Insurance Coverage Accidental Death Benefit
Police General 4,493.55 2,215,130.28 4,430,260.56
Police Lieutenant General 3,767.22 1,857,080.28 3,714,160.56
Police Major General 3,086.88 1,521,701.40 3,043,402.80
Police Brigadier General 2,731.74 1,346,632.39 2,693,264.78
Police Colonel2,417.49 1,191,720.422,383,440.84
Police Lieutenant Colonel2,139.391,054,628.872,109,257.74
Police Major1,876.65925,109.151.850.218.30
Police Captain1,697.46836,776.051,673,552.10
Police Lieutenant1,485.84732,456.331,464,912.66
Police Exec Master Sergeant/CADET1,150.98567,384.501,134,769.00
Police Sr. Master Sergeant1,022.37503,985.211,007,970.42
Police Master Sergeant1,002.33494,106.33988,212.66
Police Staff Sergeant963.42474,925.35949,850.70
Police Corporal926.01456,483.80912,967.60

*For deaths caused by accident, the beneficiaries receive an additional amount equivalent to 100% of a member’s life insurance.

Schedule of Benefits for PNP Non-Uniformed Personnel and Civilian Employees

Monthly Contribution (PHP) Death Benefit (PHP) Accidental Death Benefit (PHP)
100.00 53,846.15 107,692.30
200.00 3,767.22 215,384.62
300.00107,692.31 323,076.92
400.00 215,384.62 430,769.24

*For deaths caused by accident, the beneficiaries receive an additional amount equivalent to 100% of a member’s life insurance. 

Other Insurance plans

The Basic Group Term Plan

The Basic Group Term Plan allows a member to boost his/her insurance coverage at a minimal cost. In case of accidental death, the beneficiaries receive an amount equivalent to 100% of the member’s BGTP coverage.

PLTCOL - PGEN 60.00 80,000.00 160,000.00
PLT - PMAJ 50.00 70,000.00 140,000.00
PMSG - PEMS 30.00 40,000.00 80,000.00
PAT - PSSG 25.0035,000.00 70,000.00

The Burial Assistance Benefit

The proceeds of the Burial Assistance Benefit (BAB or PSMBFI MEM) forms part of the Cash Advance which is given to the beneficiaries upon the member’s death.

32.00 42,000.00
16.00 21,000.00

The Endowment at 56

The Endowment at 56 (E-56) is an insurance and savings plan which allows members to save up for retirement and at the same time be protected with a life insurance coverage. This product helps the member with his expenses after retirement at age 56, prior to his receipt of his monthly pension.

  • The E-56 is an investment and insurance plan in one. A member pays for this plan up to age 56. Upon reaching this age, the policy holder may choose to receive the sum assured either in lump sum or on a monthly basis. 
  • The E-56 is intended to bridge the three-year gap from the time police personnel retires from the active service up to the time he receives his monthly pension from the PNP. However, if the policy holder dies within the paying period, the sum assured will be given to his designated beneficiary/ies. 
  • All PSMBFI members aged 21 to 50 can enroll in the E-56 and the insurance coverage will take effect upon payment of the first monthly premium. 

Amount of sum assured 

The amount of the sum assured depends on the insurance age and the monthly premium. The minimum amount of premium is P350.00, while the sum assured can go as high as P3 million. 

Available riders 

The Accidental Death Benefit (ADB) rider provides additional cash benefit to the beneficiaries if the policy holder’s death is due to an accident. The Waiver of Premium Due to Disability Benefit (WPD) rider waives future premiums if the policy holder suffers total and permanent disability due to sickness or accident.

The Special Group Term Insurance (SGTI)

This is the mandatory insurance plan for active uniformed PNP personnel as mandated by Presidential Decree No. 1965. 

The PNP personnel pay P6.00, while the PNP gives a counterpart of another P6.00. For a total of P12.00 monthly premium, he is covered for P17,000.00. In case of accidental death or Killed-in-Action, an additional P25,000.00 is added, for a total of P42,000.00 insurance benefit. 

Monthly Premium Insurance Coverage Insurance benefit in case of Accidental Death or Killed-in-Action ance Coverage
6.00 17,000.00 42,000.00