By: Vener Quintin C. Taguba, Jr. and Xenia R. Andres
Administrator Peter N. Tiangco, CESO I, welcomed key officials of the Public Safety Mutual Benefit Fund Inc. (PSMBFI) when the latter made a courtesy call last 31 January.
PSMBFI is a mutual benefit association whose vision, mission, plans, and activities are geared towards uplifting the morale and welfare of its members who are primarily public safety practitioners.
The courtesy call aimed to strengthen and maintain the good relationship between NAMRIA members and the PSMBFI; and to promote the existence of a resilient financial stronghold.
Almost three years after NAMRIA started being partners with PSMBFI to protect the life and future of the agency’s personnel through the NAMRIA Morale and Welfare Program, the membership continues to grow and NAMRIA employees reap benefits from being members. To date, there are 303 NAMRIA employees who are PSMBFI members.
Being members of PSMBFI assures them of life insurance coverage (Member’s Equity Plan), equity value (savings), accidental death benefit, accidental disablement benefit, accident hospitalization benefit, and member’s experience refund. It also allows member-employees access to PSMBFI loan facilities and other products such as Burial Assistance Benefit Plan and financial assistance. Monthly contributions range from P50.00 to P1,000.00 with sum assurances between P26,923.07 to P538,461.53.
The beneficiaries of two NAMRIA employees have already claimed PSMBFI benefits and privileges with one in 2017 amounting to a total of P313,151.80 for a P532.00 monthly coverage starting from 2015; and the other one early this year for P257,384.62 for P416.00 monthly coverage starting from 2016.
PSMBFI was established in 1997 to provide life insurance for the Philippine National Police personnel who were excluded from the mandatory insurance coverage of the Government Service Insurance System. It has since expanded its services, insuring both uniformed and non-uniformed employees of other institutions. (http://www.psmbfi.com.ph/home.do)
Administrator Tiangco (4th from right) with NAMRIA and PSMBFI officials
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