Government Service Insurance System (GSIS)
BENEFITS, SERVICES, LOAN FACILITIES, & OTHER PROGRAMS
Compulsory Life Insurance
- Maturity - the total face value written on the Certificate of Membership, including supplementaries, and paid at the maturity date indicated in the contract.
- Cash Surrender Value - the reserve earned by the policy at the end of the anniversary year, which is payable to the insured upon surrender of the policy.
- Death - the total amount of insurance as indicated in the policy contract, including supplementaries, payable upon the death of the insured to designated beneficiaries or to the legal heirs if no beneficiary is designated.
- Accidental Death - double the face value, including supplementaries payable upon accidental death of the insured to designated beneficiaries/legal heirs.
- Unemployment - payment of one-half the average monthly compensation for a maximum of 6 months for employees involuntarily separated from service.
- Separation - immediate payment of 18 times the basic monthly pension plus monthly pension for life beginning at age 60 for a member who retires after at least 15 years of service.
- Permanent Total Disability - waiver of monthly premiums on the policy from the time the insured memberwas found to be totally and permanently disabled andwhile the disability lasts, and the payment of the total face value of the policy to the disabled member onmaturity date or earlier contingency. Also entitled to a basic monthly pension provided the member had paid at least 36 monthly contributions.
- Funeral - P20,000 payable upon the death of amember, pensioner, gratuitant (with 20 years of service) to the legitimate spouse, or the legitimate child who spent for the funeral, or any person showing incontrovertible proofs of his having borne the funeral expense.
- Sickness Income - daily income benefits in case of sickness or injury.
Retirement
- Under R.A. 660 - 5-year lump sum and monthly pension after five years for those who have attained the required age and length of service.
- Under R.A. 1616 - Gratuity (to be paid by last employer) and refund of premiums regardless of age, provided retiree has rendered at least 20 years of service.
- Under P.D. 1146 - 5-year lump sum (at age 60) and monthly pension after five years, provided retiree has rendered at least 15 years of service.
- Under R.A. 8291 - 5-year lump sum plus basic monthly pension for life after five years, or 18 times the basic monthly pension and monthly pension for life payable immediately (on month of retirement).
- Survivorship - Monthly pension or cash payment for surviving spouse and dependent children.
Optional Life Insurance
Unlimited Optional Life Insurance
- Maturity/Cash Surrender Value
- Death/Accidental Death
- Waiver of Premiums in case of Permanent Total
Disability
- Medical Reimbursement Insurance Plan
- College Education Assurance Plan
- Sales Redemption Insurance/Mortgage
- Redemption Insurance
Group Term Insurance
Special Insurance Benefits
Death Benefits
- Barangay Captains and Sanggunian Bayan officials - P20,000
- Barangay Council members/treasurers/ secretaries - P10,000
- Double Indemnity for Barangay Chairman killed in the performance of duty
Funeral Benefit - P2,000
Total and Permanent Disability Benefits
Employees' Compensation
- Cash Income for Disability or Death
- Medical and/or Related Services for Injury and Sickness
- Rehabilitation Services for Permanent Disability
- Funeral Benefits
Additional Benefits & Privileges
- Annual Dividend for Compulsory and Optional Policies
- FREE Accidental Death Insurance in the amount of P10,000
- Christmas Cash Gift to
o Retiree-Pensioners
o Disability Pensioners
o Survivors of Deceased Pensioners
- Carer's Allowance in the amount of P1,500 to Disabled Pensioners under RA 660/PD 1146/RA 8291
- Anniversary benefit for regular old-age/retirement/disability pensioners who are aged 100 years and over, equivalent to one month pension
- College Scholarship in GSIS-accredited schools to qualified high school graduates who are dependents of GSIS members. A GSIS scholar is entitled to free tuition & miscellaneous fees with a monthly stipend of P2,000.
- Quarterly Vacation Raffle open to all GSIS Members with an all-expenses paid vacation in a local destination/resort chosen by the winner
- Quarterly Raffle for Pensioners enrolled in the Pension Payment through Banks Program
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