Supreme Court E-Library
Information At Your Fingertips

  View printer friendly version


[ IC CIRCULAR LETTER NO. 22-2010, June 15, 2010 ]


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 ApplicationsFiling Fees/Charges

1. License for pre-need companyP50,000.00 – New
P10,000.00 – Renewal

2. License for sales counselor of pre-need companyP200.00 – New
P200.00 – Renewal

3. License for general agentP5,000.00 plus P200
per salesman - New
P2,500.00 plus P200
per salesman - Renewal

4.Accreditation of pre-need actuaryP5,000.00 – New
P3,000.00 – Renewal

5.Accreditation of pre-need external auditorP5,000.00 – 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 plansP2,500.00

11. Suspension and/or cancellation of permit to sell pre-need plansP2,500.00

12. Conversion of unsold approved pre-need plan from one type of plan to another existing previously approved planP2,500.00

13. Approval of trust agreement P2,500.00

14. Endorsement of merger, consolidation or dissolution of pre-need companiesP2,500.00

15. Endorsement of articles of incorporation, by-laws and amendments thereofP200.00

Other ServicesFees/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 applicantP500.00

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.

  Insurance Commissioner

© Supreme Court E-Library 2019
This website was designed and developed, and is maintained, by the E-Library Technical Staff in collaboration with the Management Information Systems Office.