IC Circular Letter No. 22-2010
(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 P200.00 – New company 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 1/10 of 1% of the contract price, exclusive of (New and Additional) VAT 8. Approval of pre-need plan price increase P2,500.00 9. Approval of amendments to the P2,500.00 registration statement, pre-need contracts or other documents 10. Cancellation of registration of pre-need P2,500.00 plans11. Suspension and/or cancellation of permit P2,500.00 to sell pre-need plans 12. Conversion of unsold approved pre-need P2,500.00 plan from one type of plan to another existing previously approved plan 13. Approval of trust agreement P2,500.00 14. Endorsement of merger, consolidation or P2,500.00 dissolution of pre-need companies 15. Endorsement of articles of incorporation, P200.00 by-laws and amendments thereof 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 P20,000.00 pre-need company A fine of P500 for each day of delay 18.Written examination for sales counselor P500.00 applicant 19.Certification of documents P200.00 per document 20.Authentication of documents per P200.00 document 21.Photocopying of documents P5.00 per pageAll 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