Frequently Asked Questions

Got a question about your policy? Dare to check out our answers to your Frequently Asked Questions.

A Contestable Claim is the period where your claim can still be denied.

For Individual policies - If you pass away during the first two policy years or within two (2) years from the date of reinstatement, the claim is considered contestable.

For Group policies - If you pass away during the first policy year or within first year from the date of reinstatement, the claim is considered contestable.

Your beneficiaries can be designated in the Insured Member’s enrollment form. The Insured member has the right to choose his/her beneficiaries, not disqualified by law, to whom the proceeds under his/her policy shall be payable.

You can change beneficiary designation by submitting a written notice OR updated enrollment form to your Financial Adviser OR Allianz PNB Life Head Office.

If the beneficiaries are designated in the enrollment form are irrevocable, a written consent of all living irrevocable beneficiaries must be submitted in addition to the written notice or updated enrollment form.

If the beneficiary is revocable, a written consent is not needed.

The following classes of beneficiaries, in this order, shall be deemed named by you as your contingent beneficiary/ies:

  1. Your widow or widower;
  2. Your surviving children born to or legally adopted;
  3. Surviving parents;
  4. Surviving brothers and sisters;
  5. Executors or administrators.

Note: If there are two or more beneficiaries in the same class entitled to the proceeds of the insurance, they shall share equally.

Minors cannot transact or enter into contracts in their own behalf.

The Trustee or Guardian would be the immediate reference of Allianz PNB Life, with whom they could transact regarding the proceeds of the minor child. Hence, the trustee shall be the one to provide the following documents:

  1. Affidavit of Guardianship & Undertaking if the minor's share does not exceed Php500,000
  2. Guardian's Bond if the minor's share exceeds Php500,000
Section 182 of the Revised Insurance Code provides the hierarchy of individuals designated as guardian of a minor insured, owner or beneficiary under a life, health, or accident insurance policy (in the following order):
  1. Judicial guardian
  2. Father
  3. Mother
  4. Grandparent
  5. Eldest brother or sister at least eighteen (18) years of age
  6. Any relative who has actual custody of the minor insured or beneficiary

Without the necessity of a court authority or the giving of a bond, the Guardian may exercise certain rights under the policy where the interest of the minor in the particular act involved does not exceed Five Hundred Thousand Pesos (P 500,000) or in such reasonable amount as may be determined by the Insurance Commissioner.

Please note that payment to the Guardian relieves Allianz PNB Life from any liability under the policy.

It is a court document which the insurance company requires a person who assumes the legal custody to a minor beneficiary wherein the insurance proceeds of the latter exceeds Php500,000.00. That is intended to protect the proceeds of the minor child against any unfavorable actions.

Under the Insurance Code of the Philippines (PD 612 as amended by RA 10607), Guardian’s Bond for the death claim of employee is required for the processing of claims for minor beneficiaries exceeding Php500,000.

This Guardian’s Bond is determined by the Court and shall not be less that of Ten Percent (10%) of the market value of the minor’s property.


  1. File a Petition in Court for the approval of the Guardian’s Bond;
  2. The Petition is filed:
    • in the place where the minor resides, or
    • if the minor resides in a foreign country, the place where the property of the minor is situated;
  3. The Court shall determine the amount of the Guardian’s Bond through a Court Order;
  4. Petitioner secures a Guardian’s Bond from a Non-Life Insurance Company;
  5. Petitioner submits to the Court the Guardian’s Bond;
  6. Court issues an Order or Decision approving the Guardian’s Bond.
These guidelines do not and are not meant to serve as legal advice to claimants. Claimants are advised and encouraged to seek legal advice from their own legal counsel.

The No Evidence Limit (NEL) is the maximum amount of money that Allianz PNB Life can insure you without the need for medical evidence or underwriting regardless of your current health condition, provided you are still actively at work or can actively perform the daily normal chores of life at the time of enrollment.


You are considered “actively at work” at the time your coverage takes effect if you report for work your designated shift at your usual place of employment outside your home and are able to perform your duties on a regular, full-time basis.

If your usual place of employment is your own home, you will be considered “actively at work” if you are neither confined in a hospital nor has a disability which prevents you from reporting to your usual place of employment and performing your duties on a full-time basis.


You are able to actively perform your daily chores of life if you are able to perform daily routine tasks, such as bathing, eating, cooking, walking, etc. without the need for assistance.

The Automatic Acceptance Limit (AAL) refers to the maximum age and face amount (total amount of cash quantified in an insurance policy) for which no health declaration is required, but is subject to a pre-existing limitation of one (1) year. This means that if you pass away due to a medical condition existing on your effective date of insurance for which you have received medical advice, consultation or treatment or whose signs and symptoms you are aware of prior to the effective date of insurance, the claim proceeds will be limited to the refund of the premium paid without interest.

When you surrender your policy and then buy a new policy or other investment product, you will incur new charges. These may include:

  • Administration Charge (For Unit-Linked policies)
    There could be a sales charge/withdrawal fee for each new policy / investment product. Please refer to your Policy Contract for applicable charges.
  • Policy Fee
    A policy fee is usually incurred for each policy.
When the fund you have bought is not meeting your investment objectives, you may switch to other fund(s) offered by Allianz PNB Life without incurring any charges, subject to certain conditions.

When your traditional policy has earned cash value, you can either withdraw it fully or you may choose to do the following so that you can still enjoy your policy benefits:

  • Apply for a cash loan to meet short term financial needs; OR
  • Convert to a reduced or paid-up extended term insurance policy.
Replacing your policy may result in loss of specific policy features due to changes in age, health conditions or engaging in hazardous activities.
Still got questions in mind? Send us a message here or on our Facebook Page for any additional concerns.