Learn More About FSMBAI
Your money is safe with FSMBAI
- It is a non-stock and tax-exempt association owned by the members to whom all profits go.
- The legal reserves will be invested in marketable securities authorized by the Insurance Commission Office and in welfare activities for its members on the security of the membership certificates (Sec. 389, Insurance Code).
- It is licensed by Two Government Agencies.
- Securities and Exchange Commission (SEC).
- Insurance Commission (IC)
- Yearly inspections and audits by Insurance Commission.
- Yearly valuation by License Actuary.
- Association is managed by a professional team.
Your money is safe with FSMBAI
- It is a non-stock and tax-exempt association owned by the members to whom all profits go.
- The legal reserves will be invested in marketable securities authorized by the Insurance Commission Office and in welfare activities for its members on the security of the membership certificates (Sec. 389, Insurance Code).
- It is licensed by Two Government Agencies.
- Securities and Exchange Commission (SEC).
- Insurance Commission (IC)
- Yearly inspections and audits by Insurance Commission.
- Yearly valuation by License Actuary.
- Association is managed by a professional team.
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Frequently Ask Questions
Q1A1: Must be actively uniformed and non-uniformed personnel/employees of the BFP, DILG.
Q1 A2: Fill out a Membership Application form.
Q1 A3: Application must be approved by the Board of Trustees. And,
Q1 A4: A Membership Certificate/Policy and ID shall be issued to each member.
Q2A1: A member shall pay a contribution of three percent (3%) of his/her basic pay/salary per month.
Q3A1: YES, it is! The following factors ensuring the safety of members contribution to the association to wit;
- It is a non-stock and tax-exempt association owned by the members to whom all profits go.
- The legal reserves will be invested in marketable securities authorized by the Insurance Commission Office and in welfare activities for its members on the security of the membership certificates (Sec. 389, Insurance Code).
- It is licensed by Two Government Agencies.
- Securities and Exchange Commission (SEC).
- Insurance Commission (IC)
- Yearly inspections and audits by Insurance Commission.
- Yearly valuation by License Actuary.
- Association is managed by a professional team.
Q5A1: 8% per annum
- SALARY LOAN/ EQUITY LOAN requirements
- Completed Application Form here
- 2 Government–issued IDs / BFP ID/ FSMBAI ID
- Latest Payslip-Authenticated or Certified thru copy by your station
- 1 Co-maker with 2 Government–issued IDs
News & Events
To all FSMBAI Active and Existing Members: In the spirit...
To all members of Fire Services Mutual Benefit Assiciation, Inc....
Services We're Offering
LIFE INSURANCE
Members of FSMBAI are provided with Life Insurance Coverage at a minimal cost. With your life insurance, you can:
- Leave an inheritance for your heirs
- Pay for your final expenses
- Help take care of your family even when you are gone
EQUITY SAVINGS
SALARY LOAN
- All loan applicants shall accomplish the Application Loan Form.
- Bureau Order shall determine if the applicant is a new recruit with a temporary attested appointment and the Eligibility of the new recruit for the new loan.
- ₱50,000 maximum loanable amount can be paid in 2 years.
- Interest rate per annum 8% / 0.67% month.
- Renewable after six(6) full monthly payments or at least 50% of an existing loan.
- The present salary of the applicants should be supported by updated pay slips. The net pat should not be lower than Php 4,500.00
MEMBERSHIP CERTIFICATE LOAN
- Active member with at least three(3) years of membership may be granted a loan, up to Eighty percent (80%) of the Equity Value on the security of the Certificate of Membership.
- Interest rate per annum 8% / 0.67% month.
- Renewable after six(6) full monthly payments or at least 50% of an existing loan.
DEATH BENEFITS
On the death of a member, FSMBAI will pay to the beneficiaries the benefit which corresponds to the insurance contribution of the member plus the accumulated members’ Equity Value less any outstanding indebtedness.
If the member dies by accidental means, FSMBAI will pay the beneficiaries an additional death benefit equal to that which corresponds to the insurance contribution of the member.
Accidental death has defined as a loss of life resulting directly, independently, and exclusively from all other causes, of bodily injury effected solely by external, violent, and accidental means, except in the case of drowning or if the internal injury is revealed by an autopsy where it is not forbidden by law, there is evidence of a visible contusion or wound on the exterior of the body, occurring within One Hundred Eighty (180) days from the date of such injury.
LIFE INSURANCE
LIFE INSURANCE
Members of FSMBAI are provided with Life Insurance Coverage at a minimal cost. With your life insurance, you can:
• Leave an inheritance for your heirs
• Pay for your final expenses
• Help take care of your family even when you are gone
SALARY LOAN
EQUITY SAVINGS
The Equity Value Account is equal to fifty percent (50%) of the members’ contribution. Interest shall be credited to the Equity Value Account at a rate to be determined by the Board of Trustees.
DEATH BENEFITS
DEATH BENEFITS
On the death of a member, FSMBAI will pay to the beneficiaries the benefit which corresponds to the insurance contribution of the member plus the accumulated members’ Equity Value less any outstanding indebtedness.
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Pre-retirement Real Estate Mortgage Loan
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