Guide on Regular Policy Loan GSIS – Who Are Qualified To Apply?
REGULAR POLICY LOAN GSIS – Here is a list of the qualifications in applying for the Government Service Insurance System policy loan offer.
There are several entities in the Philippines that you can turn to for loan offers. One of these is the Government Service Insurance System or more commonly called GSIS. It is a state-run social insurance institution with members that are working in the government or the public sector.
Every month, the GSIS members contribute a certain amount to the social insurance institution as savings. The contribution rate depends on the monthly income of the member.
When it comes to loans, one of the offers of the Government Service Insurance System is the GSIS Policy Loan. Who are qualified to apply for the regular policy loan GSIS offers?
The regular policy loan GSIS offers is open for member-applicants who are:
- insured for at least one (1) year either under the Life Endowment Policy (LEP) or the Enhanced Life Policy (ELP)
- in active service and has an active insurance policy
- having no pending administrative or criminal case
How to apply for this loan offer of GSIS? You may apply for it electronically at the GWAPS kiosk using your eCard or UMID card. All applications are subject to the approval of the social insurance institution and must be approved by the AAO.
With regards to the loan proceeds, according to GSIS, it will be credited directly to your eCard or UMID card account. With regards to the repayment of the loan, it can be done through a fixed monthly payment or have the loan balance deducted upon the loan renewal, maturity, or termination of the policy.
Do you want to check on the other loan offers of the social insurance institution? You may visit – GSIS LOANS – 3 Ways To Apply For GSIS Loan Offer.
