Refund of Premiums to Cancelled Edu-Child Plans

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GSIS Resolution NO. 58: Refund of Premiums to Cancelled Edu-Child Plans

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Title Source: Supreme Court: Refund of Premiums to Cancelled Edu-Child Plans

Law: Gsis No. 58

Decision Date: Jun 13, 2013

GSIS Resolution No. 58 mandates the refund of premiums paid by Edu-Child planholders after their plans were canceled due to missed payments, contingent upon signing a quitclaim agreement.

Law Summary

Refund of Premiums Paid After Plan Cancellation

Edu-Child planholders who continued to pay premiums after their plans have been cancelled are entitled to a refund.
The refund pertains only to premiums paid after the official cancellation date.
The refund shall be made without interest.

Conditions Governing Refunds

Cancellation of the plan is effective on the exact due date of the first missed monthly premium.
All premium payments made before the cancellation date are retained by the Government Service Insurance System (GSIS).
Planholders receiving a refund must sign a quitclaim agreement, releasing GSIS from further claims related to the cancelled plan.

Equity and Fairness Underpinning the Refund Policy

The resolution acknowledges fairness in refunding premiums charged after plan cancellation.
It aims to protect the rights of planholders who inadvertently paid premiums despite cancellation.

Administrative Directives

The refund policy was approved and confirmed by GSIS Resolution No. 58 dated June 13, 2013.
The Senior Vice President of the Financial Management Group proposed the specific terms for handling refunds in a memorandum dated June 4, 2013.

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