Question & AnswerQ&A (GSIS Resolution NO. 173)
The Enhanced Life Policy (ELP) is a newly designed compulsory life insurance program for GSIS regular members, which was approved to eventually replace the old Life Endowment Policy.
The Enhanced Life Policy took effect on August 1, 2003.
The memorandum complied with Board Resolution No. 163 and contained a comparative table of the existing policy and the proposed enhanced policy, as well as the benefits derived from the undertaking from both the System's and clients' points of view.
GSIS Resolution No. 173, dated July 23, 2003, approved the General Policy and Procedural Guidelines of the Enhanced Life Policy.
The ELP is a compulsory life insurance program that applies to GSIS regular members.
The Senior Vice President (Corporate Services Group), in coordination with the Vice President (Public Affairs), is directed to conduct a massive information campaign about the ELP.
The Enhanced Life Policy eventually replaces the old Life Endowment Policy.
The General Policy and Procedural Guidelines of the Enhanced Life Policy are attached and made an integral part of the Resolution by reference.
It is a compulsory life insurance program.
A comparative table between the existing policy and the proposed enhanced policy, and a presentation of the benefits of the new program from both the system's and clients' viewpoints.