Extended Grace period for Premium Payment

1. What is this extended grace period about?
In light of the energy crisis, we are offering support to our customers through the extension of their premium due grace period. Policyholders are now given up to 60 days from due date to pay their premiums vs. the normal 31-day grace period.

2. Who are covered by this program?
All policies with premium due dates that fall from March 24, 2026 to June 30, 2026 are covered by this program.

3. How does the grace period extension apply?
By policy contract, the policyholder has 31 days from the policy premium due date to pay the premium before the policy lapses or switches to deduct the premium due from the policy’s account value. The extended grace period means that the policyholder now has up to 60 days from the premium due date to make a payment before the above action/s happen. See example below:

Please note that all premium due dates from March 24, 2026 to June 30, 2026 are covered. The table above is just an example to illustrate how the grace period extension works.

4. Does this mean that I will be billed after 60 days from my due date?
No, there will be no changes in your due date, only the grace period will be extended. This means that normal billing cycle will still be followed and that you will be billed based on your existing billing cycle. 

5. I am enrolled to automated payments; are you going to deduct the payment 60 days from due date?
Affected policies enrolled to automatic payment schedule via bank account or credit card will still follow the normal billing cycle. Therefore, any premium due will still be automatically debited from the policyholder’s enrolled account on the policy’s due date. However, unsuccessful auto debits have zero charges to the customer.

6. What will happen if I’m unable to pay my premium after the normal 31-day grace period?
While the billing, due dates, and premium reminders remain the same, policies that are covered by the program will be given considerations as follows:
a. If your policy has lapsed or become inactive, or is on a non-forfeiture option, and it’s still within the extended grace period, we will   automatically reactivate it and waive any interest charges.
b. If an automatic premium loan is used, the payment will go toward the loan, and we will waive the interest.
c. If the account value is used to pay the premium, we will reverse any charges first before applying the payment as the premium.

7. What will happen if I’m still unable to pay my premium after the extended grace period?
Standard policy terms and conditions will apply on lapsation, activation of non-forfeiture options, if any and automatic application of account value to premium cases with no considerations. Existing reinstatement guidelines and routine requirements shall apply.

8. Why am I still receiving payment reminders?
Premium reminders are system-generated and will still be received by customers covered by the program given that no changes will be made on billing and due dates. Customers are still encouraged to pay on time if possible. However, please disregard any lapsation notices within the extended grace period.

9. What fund price will be applied when I make a payment?
Fund price that will be applied will be based on the date of payment, not on the billing date. If payment was made in April 2026 for a March 2026 due date, fund prices for April 2026 will be applied.

10. Can I file for a claim on my Global Health Access and/or Health Care Access policy during the extended grace period?
Should a claim occur during the extended grace period for Global Health Access or Health Care Access policies, policyholders will be asked to settle the premium due first before the settlement of the claim.

11. What will happen to premiums due starting July 1, 2026?
Premiums due starting July 1, 2026 will revert to the normal 31-day grace period.