Republic Acts1 min read
Section 24Sec./Art. 24
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Termination of Pre-need Plans. - A planholder may terminate his pre-need plan at any time by giving written notice to the issuer.
A pre-need plan shall contain a schedule of termination values to which the planholder is entitled to upon termination. Such schedule of termination value shall be required for all in - force pre-need plans and shall be fair, equitable and in compliance with the Commission issuances. The termination value of the pre-need plan shall be predetermined by the actuary of the pre-need company upon application for registration of the pre-need plans with the Commission and shall be disclosed in the contract.
CHAPTER VII
CLAIMS SETTLEMENT
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