GSIS increases emergency loan amount to P40K


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MANILAGovernment employees can now benefit from Government Service Insurance System (GSIS) emergency loans up to PHP 40,000.

During the #Laging Handa PH briefing broadcast on state broadcaster PTV, GSIS chairman Rolando Macasaet said the agency’s board decided to increase the loanable amount after noting that some of those who requested emergency loans had existing loans.

Under GSIS rules, a member’s outstanding loan amount will be deducted from the emergency loan proceeds once the application is approved.

Emergency loans can be used within three months of the declaration of a state of calamity in an area.

GSIS members can apply for emergency loans after Malacanang declared a state of nationwide calamity since March 16 and the declaration will last for six months “unless lifted or extended earlier according to the circumstances “due to the coronavirus disease pandemic (Covid-19).

Macasaet said they are accepting loan applications online due to the declared Enhanced Community Quarantine (ECQ) in Luzon, among other areas.

He said the system has worked well, with a total of loan applications reaching nearly 40,000 with a payment reaching almost PHP 4 billion.

He said GSIS members who are primary care physicians will get additional life insurance if they die from the virus.

He said GSIS members automatically get life insurance coverage up to 150% of their salary multiplied by 12.

He said, however, that due to the pandemic, GSIS officials decided to give GSIS member primary care physicians additional insurance in the amount of PHP 500,000.

He said he received information that eight GSIS members who are primary care physicians have died from Covid-19. (ANP)

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