Guide on Calamity Loans for the Pag-IBIG Fund, SSS and GSIS Members
CALAMITY LOANS – Here are the important details that you must know about the calamity loan offers of the Pag-IBIG Fund, Social Security System (SSS), and Government Service Insurance System (GSIS).
There are several kinds of loans and, undeniably, one of those that has the least attention of many people is the Calamity Loan — in most cases, not until a natural disaster has hit a place.
Calamity Loans are crafted to help individuals hit by natural disaster which may result not only in damages of structures and properties but, worst, loss of lives. These calamities include:
- earthquakes
- typhoons
- volcanic eruptions
- El Niño and La Niña phenomenon
- flash flood
- tsunami
Through a Calamity Loan, the provider aims to help the victims of a natural disaster recover from the impacts of the calamity. The money can help in the repair or the construction of a new house, finding a new source of living, the food expenses, etc.
In the Philippines, some government institutions are among the providers of the Calamity Loans. Among these state entities are the following:
- Pag-IBIG Fund
- Social Security System (SSS)
- Government Service Insurance System (GSIS)
The Pag-IBIG Fund was crafted to provide affordable options for Filipinos in acquiring residential properties. The SSS and the GSIS are the two (2) social insurance giants in the country — each has millions of members from across the nation.
The Social Security System is the social insurance institution for individuals who are working in the private sector. Its membership is also open for self-employed individuals, overseas Filipino workers (OFWs), and voluntary members.
The Government Service Insurance System is the social insurance insitution for Filipinos who are working in the government. Public employees are mandated for a GSIS membership thus its member populace is composed of former and present employees of the government.
Let us tackle each of the Calamity Loans of the Pag-IBIG Fund, the SSS, and the GSIS one-by-one. Let us begin with the Pag-IBIG Fund’s Calamity Loan offer.
