Insurance Commission(IC)

Hi!

I have a credit life insurance that I paid last June 16, 2020, however the insurer have not given
me a statement/policy if the application was approve or not. How long can the insurer withhold my premium if it is decline? Does it mean that my application was approve? 

Is there a prescriptive time for them reimburse my premium paid if decline? What if the insured died, is she/he is covered?  What does held as deposit only? Can I look for another insurer, I waited for almost 11 months already?

Thanks

May 24, 2021

Dear Liberty,

Greetings!

Thank you for your request dated May 23, 2021 under Executive Order No. 2 (s. 2016) on Freedom of Information in the Executive Branch.

Your request

You asked for Declined  CREDIT LIFE Insurance and prompt reimbursement of premium paid.

Response to your request

While our aim is to provide information whenever possible, in this instance we would need for you to resubmit your request as we are still missing from you some vital information. Please ensure that, in addition to all the mandatory fields, you also attached a valid identification.

For further assistance you may review the FAQ section of the eFOI site: https://www.foi.gov.ph/help.

Your right to request a review

If you are unhappy with this response to your FOI request, you may ask us to carry out an internal review of the response by email at [email protected]. Your review request should explain why you are dissatisfied with this response, and should be made within 15 calendar days from the date when you received this letter. We will complete the review and tell you the result within 30 calendar days from the date when we receive your review request.

If you are not satisfied with the result of the review, you then have the right to appeal to the Office of the President under Administrative Order No. 22 (s. 2011).

Thank you.

Respectfully,
Edmar Ignacio
FOI Officer