Who are the members of PSMBFI?
New police recruits are encouraged to enroll to ensure that they are protected at the onset of their service and even while in training. As a matter of policy, their insurance coverage immediately takes effect upon submission by the enrollee of a duly signed Membership Application Form (MAF) and an Authority to Deduct (ATD) duly signed by the Disbursing Officer of the police unit where he is assigned.
PSMBFI insures uniformed and civilian personnel from the following agencies:
- Philippine National Police
- National Police Commission
- Bureau of Fire Protection
- DOTr- Office of Transportation Security
- Philippine National Police Academy
- Philippine Coast Guard
- National Mapping and Resource Information Authority
- Metropolitan Manila Development Authority
- Philippine Public Safety College
- Department of Environment and Natural Resources
- Bureau of Immigration
- Land Transportation Office
- Bureau of Corrections
- Philippine Drug Enforcement Agency
UPDATE YOUR MEMBERSHIP PERSONAL INFORMATION!
Download the Data Update Form and submit to the PSMBFI office nearest you.
Benefits of Members
ACCIDENTAL DEATH BENEFIT
For deaths caused by accident, the beneficiaries receive an additional amount equivalent to 100% of a member’s life insurance.
ACCIDENTAL DISABLEMENT BENEFIT
- Loss of life
- Loss of two limbs
- Loss of both hands, or all fingers and both thumbs
- Loss of both feet
- Total loss of sight of both eyes
| DESCRIPTION | PERCENTAGE OF BASIC LIFE |
|---|---|
| Injuries resulting in being permanently bedridden | 100% |
| Any other injury causing permanent total disablement | 100% |
| Loss of arm at or above elbow | 70% |
| Loss of arm between elbow and wrist | 60% |
| Loss of one hand | 60% |
| Loss of four fingers and thumb of one hand | 50% |
| Loss of four fingers | 35% |
| Loss of thumb | 15% |
| Loss of index finger | 10% |
| Loss of middle finger | 6% |
| Loss of ring finger | 5% |
| Loss of little finger | 4% |
| Loss of Metacarpals – 1st and 2nd (add’l) | 3% |
| 3rd, 4th and 5th (add’l) | 2% |
| Loss of leg at or above knee | 60% |
| Loss of leg below knee | 60% |
| Loss of one foot | 50% |
| Loss of toes-all one foot | 25% |
| Loss of big toe | 5% |
| Loss of any other toe other than big toe, each | 1% |
| Loss of sight of one eye | 50% |
| Loss of hearing-both ears | 50% |
| Loss of hearing-one ear | 25% |
Accident Hospitalization Benefit
At no additional cost or contribution, a qualified member hospitalized for at least 24 hours due to accident shall be paid P1,000.00 per day of confinement up to a maximum of ten (10) compensable days.
Equity Value (Savings)
A portion of a member’s contribution is set aside as his/her Savings (Equity Value). This will be received upon leaving the service or retirement.
Member’s Experience Refund
This is similar to dividends. Part of the company’s earnings is distributed among qualified members for at least five (5) years. Being owners of the Association, the members receive money sourced from the portion of company funds that is in excess of the amount necessary for the payment of current claims, expenses and reserves required to cover all future guarantees.
Killed-In-Action Benefit
This is similar to dividends. Part of the company’s earnings is distributed among qualified members for at least five (5) years. Being owners of the Association, the members receive money sourced from the portion of company funds that is in excess of the amount necessary for the payment of current claims, expenses and reserves required to cover all future guarantees.
Wounded in Action
If a member is killed during legitimate PNP operations, his/her beneficiaries will receive an additional Killed-in-Action Benefit equivalent to 100% of the member’s basic life insurance coverage.
Access to Loan Facilities
Qualified members can avail of PSMBFI loan products at reasonable interest rates.
- 12.5% interest per year
- Payable up to 5 years
- Loanable amount is up to P500,000
- 12% interest per year
- Payable up to 48 months
- Loanable amount is up to P100,000
- 8% interest per year
- Payable in 24 months
- Loanable amount is 90% of Equity Value
- 9% interest per year
- Payable in 24 months
- Loanable amount is up to P50,000
* Upon declaration of NDRRMC
CLAIMS
Please refer to the dropdown for the requirements.
REQUIREMENTS FOR CASH ADVANCE OR INITIAL PAYMENT OF DEATH CLAIM
(1 COPY EACH)
- Spot Report or Report of Death
- Death Certificate
REQUIREMENTS FOR DEATH CLAIMS
(1 COPY EACH)
- Investigation Report or Spot Report
- Death Certificate (Certified True Copy from the Civil Registrar)
- Certificate of Last Payment and Updated Service Record
- Birth Certificate of Children (designated)
- Claimant’s valid ID with 3 specimen signatures
- Additional documents (on a case to case basis):
- Marriage Contract with Advisory on Marriage (original copy with official receipt)
- Birth Certificate of Insured (if single)
- Certificate of Legal Dependent(s)
- Affidavit of Guardianship
- Other documents to address a pending issue
REQUIREMENTS FOR ACCIDENTAL DISABILITY CLAIMS
(1 COPY EACH)
- Investigation Report
- Certificate of Permanent Disability from attending physician (within 6 months after the incident)
- Photo of affected body part
- Service Record
- Payslip
- Company ID (PNP/PCG/BFP, etc)
REQUIREMENTS FOR WOUNDED IN ACTION
- Spot Report or After Operation Report
- Certification from the unit that member was wounded during legitimate operation
- Medical Report from Regional Health Officer
- Company ID (PNP/PCG/BFP, etc.)
