| Individual COMPASS (COMPREHENSIVE PERSONAL ACCIDENT SECURITY SOLUTION) |
The loss or permanent disability of a family-breadwinner can deal severe emotional and financial blows to his family. While the emotional impact cannot be avoided, the financial burden can be when the financial need of the bereaved family is taken care of.
COMPASS provides a 24-hour Insurance Protection, Worldwide and on or off the job coverage for one (1) full year. It is the combination of Accident, Medical, Education and Pension Plan lumped in one package, as follows:. |
Coverage |
PlanA |
PlanB |
PlanC |
1. ACCIDENTAL DEATH
Pays to the beneficiary the plan benefit value upon the accidental death of the insured person. |
100,000 |
200,000 |
300,000 |
2. DISABLEMENT BENEFIT
If the accident did not result in death but in disability, the Insured Person will receive the plan benefit value.
|
100,000 |
200,000 |
300,000 |
3. UNPROVOKED MURDER & ASSAULT
In the event that you die or is disabled as a result of Unprovoked Murder & Assault, we will pay you an additional benefit equivalent to 50% of the accidental death or disablement benefit.
|
50,000 |
100,000 |
150,000 |
4.MEDICAL REIMBURSEMENT
All medical expenses incurred as a result of accidental injuries will be reimbursed up to the maximum limit.
|
10,000 |
20,000 |
30,000 |
5. EDUCATION BENEFITS
If the insured person dies or is permanently disabled as a result of an accident, a lump sum education benefit covering tuition fees, schoolbooks, and uniforms of his children regardless of school level and number of children will be paid up to the maximum limit chosen.
|
100,000 |
200,000 |
300,000 |
6. FAMILY SUSTENANCE BENEFIT
If the insured person dies or is permanently disabled as a result of an accident, the company will pay a monthly family sustenance benefit for twelve (12) continuous months up to the maximum limit chosen.
|
10,000/mo |
20,000/mo |
30,000/mo |
7. LOAN DISCHARGE BENEFIT
If the insured person dies or is permanently disabled and has left behind outstanding loans on properties (car, house, etc.), the company will pay a lump sum benefit up to the maximum limit chosen.
|
100,000 |
200,000 |
300,000 |
|
HOW DOES COMPASS Insurance Plan operate?
Assumption: Mr. Santos slipped in the bathroom while taking a bath banging his head on the concrete floor and seriously injuring himself in the process. The doctor pronounced, he is able to survive the accident but is permanently and totally disabled. He is covered under Plan C above.
Ruling: Whether he died or survived the accident but suffered permanent and total disability, the following benefits will apply:
| Accidental Death or Permanent Disablement Benefit (Cash Lump Sum) |
300,000.00 |
| Education Benefit (Cash Lump Sum) without or without children studying |
300,000.00 |
| Family Sustenance – Monthly Pension P30,000 x 12 months |
360,000.00 |
| Loan Discharge Benefit (Cash Lump Sum) - with or without loan |
300,000.00 |
| Medical Expenses incurred due to treatment of injury |
___ 30,000.00 |
| TOTAL CASH BENEFITS TO THE INSURED/BENEFICIARY |
P 1,290,000.00 |
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