An extended program to members who have reached the termination age of 66 and have been continuously enrolled in BLIP for at least 5 years. It offers a whole life insurance coverage with a fixed death benefit and a return of Equity Value.
A. Benefits
Cooperative Alliance for Responsive Endeavor Mutual Benefit Association, Inc. (CARE MBA) shall pay the benefits of the Certificate of Membership to its member or his/her beneficiary in accordance with the following schedule (amounts in Philippine Peso):

B. Eligibility for Membership
1. Applicants must be at least eighteen (18) years old but not more than sixty-five (65) years old as of the enrollment date. Only those applicants who can meet all of the requirements stated on the prescribed application form shall be eligible for membership.
2. Members rolling over from the prior insurance plan shall have their length of membership therein count towards meeting the requirement for full benefits as shown in the Table of Benefits. However, in the case of the Equity Value, all members, including those rolling over from the prior insurance plan, shall start with no Equity Value whatsoever.
3. Any willful misstatement of age in the application that would render a person eligible for coverage when he/she would otherwise be ineligible shall be sufficient cause for the cancellation of one’s membership in the CARE MBA at any time such misstatement is known. CARE MBA will only refund all contributions paid by the said member without interest.
4. In case of multiple overlapping applications for membership, only the initial application shall be considered valid. Upon discovery of multiple memberships of one person, the additional certificates of membership shall be automatically cancelled and the contributions for these overlapping memberships shall be refunded. In case of multiple claims for a single event by one member, benefits will be paid only once as defined and due under the initial membership.
C. FEES AND CONTRIBUTIONS
1. Members shall be charged TWENTY PESOS (PhP20.00) contribution per week or may opt to pay monthly at EIGHTY PESOS (PhP80.00) or its equivalent for other modes of payment for benefits described the CARE MBA Table of Benefits.
2. Members shall be charged a one-time ONE HUNDRED FIFTY PESOS (PhP150.00) application/membership fee in order to cover the expenses incurred in processing the application. The membership fee is not refundable.
3. The fees and contributions may be adjusted by the Board of Trustees as may be necessary to maintain the funds of CARE MBA at a level adequate to meet its benefit obligations or commitments under the Implementing Rules and Regulations. Any change in the contribution or fee is subject to approval by the Insurance Commission.
4. Contributions may be paid by direct remittance to the CARE MBA Office or designated authorized collection centers either by fund transfer, check payment or in cash. If paid by fund transfer or check, contributions are considered paid on the date of deposit and if paid in cash, the date of receipt in the CARE MBA office or authorized collection center.
5. Payments and/or instruments for payment of the weekly contributions made and executed not in accordance with the Implementing Rules and Regulations of the CARE MBA shall not be accepted and if inadvertently accepted shall be considered null and void and will be refunded without interest.
- Upon termination of membership in BLIP on account of attainment of age sixty-six (66), the members at their option may be insured under the Basic Golden Life Insurance Plan (Basic GLIP) without evidence of insurability provided the member satisfies the following conditions:
- the coverage under BLIP has been uninterrupted for a minimum of five (5) years prior to attainment of age sixty-six (66);
- the member has accomplished and submitted the prescribed application form, and has paid the required contribution for the Basic GLIP coverage within forty-five (45) days after the member’s attainment of age sixty-six (66).
- The members from BLIP continuing under the Basic GLIP shall no longer be covered by waiting period.
- Basic GLIP is a single-pay whole life insurance coverage, with the benefit amount equal to ONE THOUSAND PESOS (PHP 1,000) and a return of Equity Value equal to FIFTY PER CENTUM (50%) of the required contribution. Members are required to pay a one-time contribution of NINE HUNDRED FIFTY PESOS (PHP 950) to ensure coverage under the Basic GLIP.
- A member shall be given a Certificate of Membership that contains the salient features of the Basic GLIP coverage. Moreover, the Certificate of Membership shall remain in-force until age ONE HUNDRED (100) YEARS OLD at which time the accumulated Cash Value including Equity Value becomes payable and the insurance coverage is terminated, as seen on Annex 1.
- At any time after Certificate of Membership has acquired a Cash Value, the member may surrender the Certificate of Membership for its Cash Value and Equity Value as indicated in Annex 1
- In case of death of the member, the designated beneficiary/ies shall be indemnified with the benefit amount equal to ONE THOUSAND PESOS (PHP 1,000) and a return of Equity Value equal to FIFTY PER CENTUM (50%) of the required contribution. However, the total amount of the Cash Value and Equity Value as indicated in Annex 1 under the Basic GLIP shall no longer be disbursed to the designated beneficiary/ies.
- The benefits of the member under the Certificate of Membership shall automatically terminate under the following conditions, whichever comes first:
- Upon death of the member;
- Upon resignation from CARE MBA;
- Upon surrender of the Certificate of Membership for its Cash Value and Equity Value
- Upon reaching the exit/termination age of one hundred (100) years old.
- Upon termination with cause from CARE MBA
IMPORTANT NOTICE
The Insurance Commission, with offices in Manila, Cebu and Davao, is the government office in charge of the enforcement of all laws related to insurance and has supervision over mutual benefit associations and intermediaries. It is ready at all times to assist the general public in matters pertaining to insurance. For any inquiries or complaints, please contact the Public Assistance and Mediation Division (PAMD) of the Insurance Commission at 1071 United Nations Avenue, Manila with the telephone numbers +632-5238461 to 70 and with email address publicassistance@insurance.gov.ph. The Official website of the Insurance Commission is https://www.insurance.gov.ph