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(NAR) VOL. 21 NO.3 JULY - SEPTEMBER 2010
[ IC CIRCULAR LETTER NO. 22-2010, June 15, 2010 ]
SCHEDULE OF FEES AND CHARGES
Pursuant to the powers vested in the Insurance Commission under Section 6 (b) of the Pre-need Code of the Philippines, hereunder are the prescribed fees and charges:
| Types of Applications | Filing Fees/Charges (Non-Refundable) |
| 1. License for pre-need company | P50,000.00 – New P10,000.00 – Renewal |
| 2. License for sales counselor of pre-need company | P200.00 – New P200.00 – Renewal |
| 3. License for general agent | P5,000.00 plus P200 per salesman - New P2,500.00 plus P200 per salesman - Renewal |
| 4.Accreditation of pre-need actuary | P5,000.00 – New P3,000.00 – Renewal |
| 5.Accreditation of pre-need external auditor | P5,000.00 – Auditing Firm - New/Renewal P2,000.00 – Signing Partner - New/Renewal |
| 6. Approval of branch office | P1,000.00 |
| 7. Registration of pre-need plans (New and Additional) | 1/10 of 1% of the contract price, exclusive of VAT |
| 8. Approval of pre-need plan price increase | P2,500.00 |
| 9. Approval of amendments to the registration statement, pre-need contracts or other documents | P2,500.00 |
| 10. Cancellation of registration of pre-need plans | P2,500.00 |
| 11. Suspension and/or cancellation of permit to sell pre-need plans | P2,500.00 |
| 12. Conversion of unsold approved pre-need plan from one type of plan to another existing previously approved plan | P2,500.00 |
| 13. Approval of trust agreement | P2,500.00 |
| 14. Endorsement of merger, consolidation or dissolution of pre-need companies | P2,500.00 |
| 15. Endorsement of articles of incorporation, by-laws and amendments thereof | P200.00 |
| Other Services | Fees/Charges (Non-Refundable) |
| 16. Supervision | P45,000.00 – for pre-need company with total assets of less than P500 Million |
| P70,000.00 – for pre-need company with total assets of P500 Million to P1 Billion | |
| P95,000.00 – for pre-need company with total assets of more than P1 Billion | |
However, the said applicable amount can be deducted from any filing fees which the pre-need company will pay on the registration of its new and additional pre-need plans | |
| For examination conducted outside of Metro Manila, additional actual and necessary traveling and subsistence expenses of the examiners shall be charged | |
| 17. Filing of annual financial statements of pre-need company | P20,000.00 A fine of P500 for each day of delay |
| 18.Written examination for sales counselor applicant | P500.00 |
| 19.Certification of documents | P200.00 per document |
| 20.Authentication of documents per document | P200.00 |
| 21.Photocopying of documents | P5.00 per page |
All other circulars, orders and issuances, or part thereof inconsistent with this Circular Letter are hereby repealed or modified accordingly.
This Circular Letter shall take effect fifteen (15) days after its publication in a newspaper of general circulation.
Please be guided accordingly.
(SGD.) SANTIAGO JAVIER RANADA
Insurance Commissioner