Policy Document

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KanLive
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 Quick reference

About this policy 1

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Your benefits at a glance 2

What you are covered for 3

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Death benefit 3
Surrender benefit 3

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Making a claim 4
What we do not cover 4

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Starting, changing or ending this policy 5
When this policy starts
Canceling this policy
When this policy ends
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5
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Making changes to this policy 6
Reinstating this policy 6
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The main people under this policy 7

Policy owner (you) 7
Insured person 7
Beneficiaries 8
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Disqualification of beneficiaries due to unlawful acts 8

Types of beneficiaries 8
Substitute beneficiaries 9
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Premiums 11
When you need to pay your premium 11
What happens if you do not pay your premiums 11
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Keeping it legal 12
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Important words and phrases 14

Table of cash values 16

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 1

About this policy

Thank you for choosing FWD. We’re pleased to be protecting you,

so you can focus on living life to the fullest.

Easy to read

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We’re here to change the way you feel about insurance – starting with this document.
We’ve made it easy to read, so you can understand your benefits and what you are covered for.

We highlight important information like this. Read these carefully.

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Words with special meaning
Some words in this policy have special meaning. We show those meanings on page 14
(Important words and phrases). Please refer to this section when you need to.

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Beneficiaries Endorsement C Policy owner
Benefit amount Expiry date Premium due date
Cash value Insured person We, us, our
Claimant Policy You
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Effective date Policy data page
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What makes up this policy

This insurance policy is made up of the documents listed below. We will provide them to you
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in electronic form. You may also request for a paper version to be provided to you.

–– This policy document.

–– The policy data page.
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–– The application form and any documents you provided with it.
–– Any policy endorsement.
–– The rewards terms and conditions.

A policy endorsement is the document we provide

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to tell you about any official change to this policy.

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Questions?
Please call our Customer Connect Hotline at +632 888 8388. We are here for you 24/7.

For and on behalf of FWD Life Insurance Philippines.

Peter Karl Grimes

President and Chief Executive Officer

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KanLive

This policy pays a lump sum if the insured person dies.

Your benefits at a glance

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You can claim the following benefits while this policy is active.

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Death Surrender
benefit benefit

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Details on page 3 Details on page 3
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We pay 100% of the We pay the cash value

benefit amount to the (if any) if you request that
beneficiaries if the we end this policy before
insured person dies. its expiry date.

The amount of cash value

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is shown on page 16
(Table of cash values)

This is a simplified diagram of the benefits.

For more important details, see page 3 (What you are covered for).
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This is a protection product

This KanLive policy is a protection product and does not
contain any savings or investment components. This policy provides
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death benefit or surrender benefit (if this policy has a cash value).
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What you are covered for

In this section, we explain what benefits you are

covered for, and any conditions that apply to those benefits.
General exclusions also apply. See page 4 (What we do not cover).

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You can claim the following benefits while this policy is active.

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We pay 100% of the benefit amount to the beneficiaries
Death
benefit if the insured person dies.

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We pay the cash value of this policy shown on page 16 (Table of cash values)
Surrender
benefit to the policy owner if the policy owner requests that we end this policy
before its expiry date.C
The policy owner cannot reinstate this policy after the surrender benefit is paid.
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Making a claim

When the unexpected happens, call our 24/7 Customer Connect Hotline at
+632 888 8388. We will assign the claimant to a Claims Ambassador

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to assist in the process.

To make a claim for this policy, we need to receive signed claim forms and

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any other information that we need. We will not be able to process the claim
until we receive this information and the signed claim documents.

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We are not responsible for any of the costs of filling in any form or
getting any documents or reports.

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What you or the beneficiary needs to do
You or the beneficiary must make every effort to submit a claim to us within 90 days after
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the insured person’s death as it is difficult to assess claims after the 90-day period. The claim
will not be declined or reduced if there were good reasons for not submitting on time.
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Claims may be delayed or even declined if we receive them after 90 days.
Don’t risk it!
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What we pay
We will assess the claim, and if it is valid, we will pay the benefits less any premiums
due from this policy.
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Benefit limit
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We will pay a maximum of ₱200,000 only across all your KanLive policies. All premiums
paid for any excess coverage will be refunded without interest earnings.
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What we do not cover

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Suicide or We will not pay the death benefit if the claim arises from attempted suicide
self-inflicted act or a deliberate self-inflicted act by the insured person while sane within two
years after this policy’s effective date, or last reinstatement date. In this case,
we will return all premiums you have paid to the beneficiaries.

We will pay the benefit if the insured person committed suicide while
insane at any time.

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Starting, changing or
ending this policy

This section explains when this policy starts and ends,

how to make changes to this policy, and how to reinstate this policy.

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When this policy starts

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This policy and insurance coverage starts on the effective date shown on the policy data page.

If we need to count any period of time, such as a year or month,

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under this policy, we start from the effective date.

Receiving this policy

We will consider this policy as delivered to you, 10 days after the effective date.

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A copy of this policy is available in your FWD Customer Portal.
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Log in to Customer Connect at fwd.com.ph.
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Canceling this policy
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You can cancel this policy by sending us a written request within

15 days after this policy has been delivered to you.

Upon cancellation, we will return all paid premiums for this policy without interest earnings on
the refunded amount. If a claim is payable for this policy, we will not refund the premiums.
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When this policy ends

This policy ends on the earliest of the following:
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–– on the date of the insured person’s death;

–– on the date we approve your request to surrender or cancel this policy;
–– on the expiry date of this policy shown on the policy data page; or
–– on the premium due date, if you have not paid your premium for this
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policy after the 31-day grace period and the cash value is zero.
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The claimant can claim the benefit after this policy ends if the insured
person’s death or diagnosis of a covered disability happened before
this policy ended.

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 Starting, changing, or ending this policy 6

Making changes to this policy

You can ask us to make a change to this policy at any time. Minor changes such as
change of contact information can be made through our 24/7 Customer Connect
Hotline at +632 888 8388. Major changes to this policy such as “change in
beneficiaries” will require you to submit the policy change form.

We will provide a letter documenting the change when we approve the changes.

Have irrevocable beneficiaries or assignees?

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YYou will need written permission from all irrevocable beneficiaries or assignees if
you are making a change that will reduce any benefit they can receive under this policy. See page 8 (Types
of beneficiaries) to find out more about irrevocable beneficiaries.

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This policy is not changed unless we give you a policy endorsement.

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Reinstating this policy

If this policy has changed to reduced paid-up coverage

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If this policy has been changed to reduced paid-up coverage because your
premiums were not paid and it is still active, you can apply to reinstate (restart) this
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policy within three years from the date your premiums were not paid.

If we approve your reinstatement application, this policy will no longer be

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reduced paid-up coverage, and the original benefit amount will apply.

If this policy ended because premiums weren’t paid

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You can apply to reinstate (restart) this policy within three years from the date this
policy ended because the premiums were not paid. You cannot reinstate this policy if
you surrendered this policy and received a payment from the policy cash value.
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If we approve your reinstatement application, the policy benefits will

be effective from the date we reinstate this policy.

The policy benefits will restart from the date we reinstate this policy.
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What you need to do

To reinstate this policy, do the following.
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–– Call our 24/7 Customer Connect Hotline at +632 888 8388.

–– Pay us all the missed premiums and any extra cash value we paid you if we converted
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this policy to a reduced paid-up coverage, including any interest that applies.

What we will do
We will review your request, and if we are satisfied that you have met our
requirements, we will reinstate this policy, effective on the date we set.

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The main people under this policy

We refer to the policy owner, insured person, and beneficiaries

throughout this policy document. This section explains who they are,

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what rights they have, and how they are treated under this policy.

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Policy owner (you)
You (the policy owner) own this policy, and your details are shown on the policy data page

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or endorsement. Only you can make changes to, or enforce any rights under this policy.

You will receive all of the benefits under this policy, except for the
death benefit which is paid to the beneficiaries.

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If you have any irrevocable beneficiaries or assignees, you will need


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their permission to make certain changes to this policy.
See page 8 (Types of beneficiaries) for details.
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Using this policy as collateral
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You can choose to assign the benefits under this policy to someone else (assignee)
as collateral for a loan. We will only recognize a policy assignment if we have
made a record of it, and issued to you with a policy endorsement.

What you need to do to assign your policy

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You need to provide us a signed and notarized collateral assignment form along
with any additional information we need. Call our 24/7 Customer Connect
Hotline at +632 888 8388 and they will guide you through the process.
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What we will do
We will make a record of your assignment, and provide you with acknowledgment in writing.

We are not responsible for the effect, sufficiency or validity of any assignment.
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If you owe us money under this policy, our rights will take priority
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over any other person or assignee.

Insured person
This is the person you chose for us to protect under this policy.
We will pay the death benefit upon the death of this person.

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 The main people under this policy 8

Beneficiaries
The beneficiaries are the people you chose to receive any amounts paid under your
policy when the insured person dies. You can appoint one or more beneficiaries, and
you can decide how much of the death benefit each beneficiary will receive.

Beneficiaries receive the death benefit under this policy. Beneficiaries cannot receive
any other benefit under this policy, and they cannot make changes to this policy.

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Disqualification of beneficiaries due to unlawful acts
If the insured person dies from any of the policy beneficiaries committing any illegal or unlawful act or
failure to act, we will not consider those policy beneficiaries to be ‘qualified’ claimants for any benefit under
this policy under Section 12 of the Amended Insurance Code of the Philippines (Republic Act 10607).

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Choosing your beneficiaries

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The law sets certain requirements for who can be named as your beneficiary. If you are the
policy owner and the insured person, you can choose any person as your beneficiary.

You can choose any legal entity (including a corporation,

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partnership, charity, or trust) to be a beneficiary.

Type of beneficiaries
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When you choose your beneficiaries, you classify them as ‘revocable’ or
‘irrevocable’, and ‘primary’ or ‘contingent’. These choices affect how easily you
can change your policy, and who is first in line to receive the benefits.
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Revocable or irrevocable
Your beneficiaries will be revocable or irrevocable.
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Revocable
If you make all of your beneficiaries revocable, you can make any change to
your policy without the permission of your revocable beneficiaries.
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Irrevocable
If you make any of your beneficiaries irrevocable, you need written permission
from all of your irrevocable beneficiaries if you are making a change that will
reduce any death benefit they can receive under this policy.
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Beneficiaries are considered to be irrevocable if you made no changes

to your beneficiaries while the insured person was alive.
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Revocable [OR] Irrevocable

Policy can be Must agree

changed any time to change the policy

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 The main people under this policy 9

Primary or contingent
Your beneficiaries will be primary or contingent. Primary beneficiaries are first in line
to receive the death benefit. If there are no living primary beneficiaries, we will pay
the death benefit to the contingent beneficiaries, if any.

Contingent beneficiaries are the back-ups for your primary beneficiaries.

They only receive a benefit if there are no primary beneficiaries.

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Primary
We will pay the entire death benefit to the surviving primary beneficiaries
in the specific shares you have chosen. If you have not chosen any
shares, we will pay them in specific equal shares.

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Contingent

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If there are no living primary beneficiaries, we will pay the entire death benefit to
the surviving contingent beneficiaries, if any, in the specific shares you have chosen.
If you have not chosen any specific shares, we will pay them in equal shares.

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Primary [OR] Contingent
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First in line Second in line
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Substitute beneficiaries
We think it’s important to be ready for anything, so your policy has rules if there are no
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primary or contingent beneficiaries when the insured person dies. This may happen if the
beneficiaries have been disqualified by law, or if they die before the insured person.

Should this happen, we will pay the policy owner the death benefit in the event of death. Otherwise,
we will pay the death benefit to any of the surviving relations of the insured person’s:
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–– legal spouse;
–– legitimate children;
–– illegitimate children;
–– parents;
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–– brothers and sisters; or

–– half-brothers and half-sisters.
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If we cannot pay any of the people above, we will pay the death benefit to the insured person’s estate.

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 The main people under this policy 10

Beneficiary payment order

If no If no
primary beneficiaries, primary owner,
we pay we pay

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Primary Contingent Substitute
Policy Owner
beneficiary beneficiary beneficiaries

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First in line Second in line

This applies at the time of the If no

insured person’s dealth contingent beneficiaries,

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we pay

Changing a beneficiary

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You can change or add a beneficiary at any time before your policy ends.
If you have any irrevocable beneficiaries and you want to:
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–– reduce the death benefit share of the irrevocable beneficiaries; or
–– remove any of the irrevocable beneficiaries;
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you need to get the consent of the current irrevocable beneficiaries whose
death benefit may be reduced, before we can make the change.
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What you need to do

To change the beneficiary, you need to tell us in writing and give us any other information
we need (including the consent of any of the irrevocable beneficiaries).
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What we will do
We will provide a letter documenting the change.
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Premiums

You need to keep paying your premiums for this policy during the
duration (years payable) shown on the policy data page.

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When you need to pay your premiums
When you apply for this policy, you will be told how much you need to pay
and when the premiums are due (the premium due dates). You need to keep

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paying your premiums until the date shown on the policy data page.

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What happens when you do not pay your premiums

31-day grace period to pay

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You have 31-day grace period after the premium due date to pay the premium.
This policy will continue after the grace period if you pay the premium within the
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grace period. Otherwise, the policy will only continue until the end of the grace period.

Non-forfeiture options if you don’t pay within the 31-day grace period
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If we do not receive payment within the grace period, you can tell
us to do one of the following non-forfeiture options.
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–– Continue this policy, but change it to reduced paid-up coverage (see details below); or
–– Surrender (end) your policy, and receive the cash value, if any.
If you have not told us your choice, we will use the reduced paid-up coverage non-forfeiture option.
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Reduced paid-up coverage

Under this option, we keep this policy active, but reduce the policy benefits.
This means, the expiry date will remain the same, but the benefit amount will be lower.
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We determine the new benefit amount based on the available cash value
and the insured person’s age on the date of the change.

While this policy is still active, you can apply to change this policy back
from reduced paid-up coverage within three years from the date you missed
your premium. See page 6 (Reinstating this policy) for details.
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Keeping it legal

In this section, we explain the important legal rights

and obligations under this policy.

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Contract and governing law
This policy is a legal contract of insurance between you and us,
and is governed by Philippine law.

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Under this policy, we agree to provide the policy benefits, and you
agree to keep to the terms and conditions of this policy.

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Incontestability
We can contest (dispute) the validity of any claim within two years from the effective date or

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the date we last reinstated this policy (whichever is later) if we discover that you or the insured
person did not give us complete, correct, or true information when you applied for this policy.
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We cannot contest (dispute) the validity of any claim after the two-year period
unless we are allowed by law or jurisprudence.
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If we contest (dispute) a claim, we will review the claim and decide if we have any reason
to treat this policy as having never existed. If we do, we will not pay any benefit, and
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we will refund all premiums you have paid (to you or to your beneficiaries).

Incorrect age or gender

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If we discover that we were given the incorrect age or gender for the insured person,
we will adjust the benefit amount to reflect the correct age and gender.

If the insured person was not eligible for insurance coverage at their correct age and gender, we
will treat this policy as having never existed, and we will refund all premiums you have paid.
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Time limit on legal action

No one can take legal action in connection with this policy after five years from
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the time the reason for the legal action arose. Legal actions done on this policy
can be made anywhere within the legal jurisdiction of the Philippines.
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Payments under the policy

All amounts paid to us, or by us, in connection with this policy will be
paid in the currency shown on the policy data page.

We will only make payments in the Philippines.

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 Keeping it legal 13

Payments are not adjusted for inflation or deflation

Article 1250 of the Civil Code of the Philippines does not apply to any payments under this policy.

Article 1250 says:

“In case an extraordinary inflation or deflation of the currency stipulated should supervene, the value
of the currency at the time of establishment of the obligation shall be the basis of payment…”

No adjustments are made if there is any extraordinary rise or

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fall in the value of the currency you chose for this policy.

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Important words and phrases

The list below explains the meanings of

certain words and phrases used in this document.

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Beneficiaries The person or people you chose to receive the death
benefit under this policy if the insured person dies.

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Benefit amount Refers to the benefit amount or sum assured of this policy as shown
on the policy data page.

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Cash value The amount shown on page 16 (Table of cash values) that is used to determine:

–– the surrender benefit; and

–– the amount used to calculate your coverage if this policy is changed
to the reduced paid-up status because the premiums aren’t paid.

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Claimant The beneficiaries if the claim is a death benefit.

Effective date
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The owner if the claim is a surrender benefit.

The day this policy and insurance coverage start.

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Endorsement The document we provide to record any official change to this
policy when we issue it or throughout the life of the policy. An
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endorsement can only be issued by an authorized FWD employee.

Expiry date The date shown on the policy data page, or the end of the
reduced paid-up coverage if the non-forfeiture option is
applied, when this policy and insurance coverage ends.
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Insured person The person insured under this policy and shown
under ‘insured’ on the policy data page.
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Policy All of the documents listed below.

–– This policy document.

–– The policy data page.
–– The application form and any documents you provided with it.
–– Any policy endorsement.
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–– The rewards terms and conditions.

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Policy data page The document that shows:

–– your name and details;

–– the effective date and expiry date of this policy;
–– the benefit amount;
–– the premium you have paid; and
–– the policy premium due dates.

Policy owner You, the person who owns this policy. Your details are
shown under ‘owner’ on the policy data page. We also use
the term ‘you’, or ‘your’ in this policy document.

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 Important words and phrases 15

Premium due date The date your premium is due to be paid, shown on your policy data page.

We, us, and our FWD Life Insurance Corporation, the issuer of your policy.

You, and your You, the person who owns this policy. Your details are
shown under ‘owner’ on the policy data page.

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Important notice: The Insurance Commission, with offices in Manila, Cebu and Davao, is the government office
in charge of enforcing all laws related to insurance and supervising insurance companies and intermediaries.
They help the general public in matters relating to insurance. For any questions or complaints, please contact
the Public Assistance and Mediation Division (PAMD) of the Insurance Commission at 1071 United Nations

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Avenue, Manila. Phone +632-5238461 to 70 or email [email protected]. The official website of
the Insurance Commission is www.insurance.gov.ph

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Table of cash values

Policy Year Age Guaranteed Cash Value Reduced Paid-up Insurance

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2

N
4

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6

E
8

10
C
N
11
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12

13

14
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15

16
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17

18

19

20
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The values shown in this Table of cash values are for every PHP 1,000.00 of Sum Assured.These are guaranteed
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for the number of years indicated, as long as premiums are paid in full. You may request for the values applicable
to the durations not shown in this table.

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ShopFWD Rewards Program

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Terms and Conditions

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 1

Qualification
Subject to the Terms and Conditions, you are eligible to have access to the Rewards Program if you are:

–– 18 to 50 years old at the time of application;

–– a Filipino citizen or legal Philippine resident; and
–– named as the Insured Person of at least one of the Eligible Plans.

The Rewards Program is provided to individuals only. Corporations, associations,

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organizations, or other groups may not participate in the Rewards Program.

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Membership Access
The Rewards Program is granted based on FWD’s sole discretion. FWD may refuse access to any applicant.

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–– Each Insured Person is entitled to only one Rewards Program.
–– In general, your access starts on the day the Eligible Plan was issued.

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–– Your access to the Rewards Program grants you a welcome reward upon purchase
of an Eligible Plan and may grant you regular reward items throughout the lifetime
of your Eligible Plan, as announced by FWD. You may choose which reward item
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to avail through the online Rewards Catalog accessible via FWD Tapp.
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Eligible Plans
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The Eligible Plans under the Rewards Program shall mean any of the following plans:

–– KanLive;
–– KanMend; or
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–– KanGuard.

Eligible Plans are subject to change. Please refer to shop.fwd.com.ph for the list of Eligible Plans.
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Termination of Membership
Your Rewards Program terminates when you are no longer covered under any of
the Eligible Plans in accordance with the Eligible Plan’s policy contract.
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FWD, at its sole and absolute discretion and at any time for whatever reason, reserves the right to
modify or terminate the Rewards Program, its terms and conditions, and its composition (including,
but not limited to its Partners, goods, services, arrangements or other privileges) without prior notice
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to you. You shall be bound by such variations and amendments. Rest assured that any changes
will be subject to the prior notice or approval of the proper regulating body, if necessary.

Your continued access to the Rewards Program shall also mean your continuing acceptance to be bound
by the Terms and Conditions and other relevant agreements and endorsements of the Rewards Program.

ShopFWD Rewards Program

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Other Conditions

Life of the Rewards Program

FWD does not guarantee that the Rewards Program will continue
indefinitely or that it will be managed and owned by FWD.

Taxes

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You shall be responsible for the payment of all taxes which may result
from your participation in this Rewards Program.

Damages or losses

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In no event shall FWD or any of its principal, subsidiaries, partners, and affiliates (“FWD
Group”) be liable for any indirect, incidental, consequential, special, exemplary, punitive
damages or loss of profits, even if any or all of the foregoing or any of their authorized

O
representatives have been advised of the possibility of such damages. You are waiving any
and all of your rights to claim for damages or loss of profits from the FWD Group.

Disputes on eligibility

E
All questions or disputes regarding eligibility for the Rewards Program will be resolved
C
by FWD at its sole discretion, which shall be final and binding on you.

The provisions of the Eligible Plans’ policy contracts shall likewise apply.
N
Information that you will provide
You hereby agree that any information you provided for the use of your Rewards Program is on a
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voluntary basis and is intended for your Rewards Program access, participation and attainment of
goods, services, arrangements or other privileges. You also agree that the information you’ve provided
for your Rewards Program access, participation, attainment of goods, services, arrangements
or other privileges will be used solely for the Rewards Program and the performance or delivery
of goods, services, arrangement or other privileges in relation to the Rewards Program.
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Your contact details

You give FWD consent to contact you through your registered contact details in respect of your access
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or participation in the Rewards Program, and are responsible for advising FWD of any changes in your
registered contact details, including email address, physical mail address, and mobile number to make
sure that communications from FWD are not filtered or placed in a location where you do not see them.
Since updating your contact details are your primary responsibility, in no case shall FWD be liable for
your failure to receive any notices or special offers sent by FWD to your registered contact details.
For the complete copy of FWD’s Privacy Policy, please visit www.fwd.com.ph/en/privacy-policy.
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Communications and updates

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Any notice or other material shall be deemed to be communicated if it is uploaded to the

FWD website, FWD Facebook Page, or FWD Tapp mobile app, or if it is sent to the email
address, mobile number and/ or physical mail address you last notified FWD with.

ShopFWD Rewards Program

 3

Warranties
To the fullest extent permitted by law, FWD disclaims all express or implied warranties including, but not
limited to, warranties of satisfactory quality, merchantability and fitness for a particular purpose of the
goods, services, arrangements or other privileges acquired through the Rewards Program. FWD shall not
be liable for any damages or loss of any kind directly or indirectly arising from or in connection with the
Rewards Program, use of any information, software, products, services or content through the Rewards
Program, or your dealings with third party service providers available through the Rewards Program.

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Links that will be available to you
Any third party links provided by FWD on any of our websites, communication channels
and social media are provided for your convenience. Their inclusion does not imply
any approval or endorsement by us. We have no control over the content of those

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sites and accept no responsibility or liability in respect of your use of them.

Media and other materials

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The materials (including, but not limited to information contained in mobile apps and video clips), provided
on any of FWD’s websites, communication channels and social media, including all text, photographs,
images, illustrations, graphics, audio, video and audio-video clips, are provided by way of information only

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and are in no way intended to be an advice. While FWD Group endeavors to ensure that the contents of the
material are accurate, errors or omissions may occur and we do not accept any liability in respect of them.

Disputes on the Rewards Program

C
As a condition of participating in the Rewards Program, you agree that, except where prohibited,
N
any and all disputes, claims and causes of action arising out of, or connected with, the Rewards
Program or any item obtained from it shall first be resolved between you and FWD. Should
any legal action occur due to failure of the parties to agree on a resolution, you agree to
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exclusively submit to the proper courts of Taguig City, to the exclusion of all other courts.

All issues and questions concerning the construction, validity, interpretation and enforceability
of these Terms and Conditions, your rights and obligations, or the rights and obligations of FWD
Group in connection with the Rewards Program, shall be governed by, and construed in accordance
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with, the laws of the Philippines, without giving effect to any choice of law or conflict of law rules
which would cause the application of the laws of any jurisdiction other than the Philippines.
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Separability
If, for any reason, any provision or part of this Terms and Conditions is found to be void or
unenforceable, such provision or part of the Terms and Conditions shall be deemed to be
severed from the Terms and Conditions and the remainder provisions not otherwise declared
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void or unenforceable, as the case may be, shall remain in full force and effect.
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Important words and phrases

The list below explains the meanings of certain words and phrases used in this document.

Eligible Plan The designated policy or supplementary benefit applications received

by and issued by FWD and enumerated in the “Eligible Plans” section

Rewards Program the access to the rewards provided by FWD or Partners

Insured Person the person who is protected under the Eligible Plan

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Partner/s the entity/ies that provide/s, goods, services, arrangements or other

privileges which may be redeemed under the Rewards Program

FWD, We, Our FWD Life Insurance Philippines

You, Your the FWD client whose name the Rewards Program is
maintained FOR, as used in this document

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