Requested from IC by L. Sanico at 04:53 PM on
Nov 26, 2021.
Purpose: For DepEd APDS Accreditation
Date of Coverage: 06/01/2021 - 11/26/2021
Tracking no: #IC-875777712948
Sanico 04:53 PM, Nov 26, 2021
Dear IC:
Good day!
I would like yo inquire about the service fee mentioned in Chapter I, Title 8 Sec 78 of the Insurance Code:
1) Is the Service Fee applicable for collections via salary deduction of Traditional Life Insurance premiums and Variable Life Insurance premiums?
2) Can the Life Insurance Agent shoulder the Service Fee?
Ignacio 11:42 AM, Nov 29, 2021
November 29, 2021
Dear Lawreanne,
Thank you for your request dated Nov 26, 2021 under Executive Order No. 2 (s. 2016) on Freedom of Information in the Executive Branch, for Allowable Service Fee for Salary Deduction of Insurance Premium.
We received your request on Nov 26, 2021 and will respond on or before Dec 17, 2021 04:53:49 PM, in accordance with the Executive Order's implementing rules and regulations.
Should you have any questions regarding your request, kindly contact me using the reply function on the eFOI portal at https://www.foi.gov.ph/requests/aglzfmVmb2ktcGhyHAsSB0NvbnRlbnQiD0lDLTg3NTc3NzcxMjk0OAw, for request with ticket number #IC-875777712948.
Thank you.
Respectfully,
Edmar Ignacio
FOI Officer
Sanico 05:13 PM, Jan 06, 2022
Hi Sir Edmar,
Good day! I would like to follow up on this FOI request; I haven't received any reply last December 17.
Thank you!
Espejon 11:33 AM, Jan 10, 2022
January 10, 2022
Dear Lawreanne Sanico,
Greetings!
Thank you for your request dated Nov 26, 2021 04:53:49 PM under Executive Order No. 2 (s. 2016) on Freedom of Information in the Executive Branch.
Your Request
You asked for Allowable Service Fee for Salary Deduction of Insurance Premium.
Response to Request
In relation to your request, please be advised that based on the opinion of the Licensing Division, the “service fee” mentioned is covered by Section 78 of the Insurance Code, as amended by Republic Act No. 10607 if the same constitutes as premium payment and provided that the requirement under Section 78 is complied with.
If the “service fee” is for payment of premium, note that the payment should come from the policyholder which should be remitted by the insurance agent to the insurance company.
Please note that this is not the official opinion of the Insurance Commission (IC).
Should you wish to request for a legal opinion, you may access IC Circular Letters through the following link below for your information and guidance.
https://www.insurance.gov.ph/wp-content/uploads/2017/07/CL2017_13.pdf
https://www.insurance.gov.ph/wp-content/uploads/2017/07/CL2017_35.pdf
https://www.insurance.gov.ph/wp-content/uploads/2019/10/CL2019_59.pdf
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 rr.mojica@insurance.gov.ph. 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,
Tranquilino Espejon
FOI Decision Maker
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