Amendment to Insurance Coverage
- Amends Section One of Presidential Decree No. 352 concerning special group term insurance.
- Provides that the insurance coverage shall be increased to a maximum of P12,000.00 per member annually.
- The coverage is subject to terms and conditions agreed upon by the Government Service Insurance System (GSIS), other insurance firms, and the AFP Chief of Staff.
- Insurance premium payments are shared equally (50%-50%) between the insured AFP or INP member and the Government.
Scope of Coverage and Beneficiaries
- Applies to all active service members of the AFP and INP.
- Includes cadets of the Philippine Military Academy and Philippine Air Force Flying School.
- Also covers Probationary Officers, trainees, and draftees actively serving.
- Coverage is provided as a Special Group Term Insurance program renewable annually.
- This coverage is in addition to any compulsory insurance already provided under existing laws.
Implementation and Effectivity
- The decree takes immediate effect upon issuance.
- Ensures quick enhancement of insurance benefits to address the urgent needs of AFP and INP personnel.
Governmental Authority and Approval
- The Minister of National Defense must approve the agreed terms, conditions, and premium rates.
- The decree is issued under the constitutional powers of the President of the Philippines.