Damayan Aid Fund Agreement

I am a regular member of LTVTP-MPC, hereby agree to participate in the Damayan Aid Fund program under the following terms and conditions:

1. ELIGIBILITY AND PAYMENT
   • I confirm that I am a regular member of LTVTP-MPC.
   • I agree to pay Five Hundred Pesos (₱500.00) upon joining this program.
   • I understand that ₱20 will be deducted from my Damayan fund for each claim, regardless of my residency and share capital.
   • I agree that the Damayan fund will be automatically deducted from my ICPR during distribution.
     
2. COVERAGE AND CLAIMS
   • I understand that the Damayan Fund Benefit is a financial assistance given to beneficiaries of Regular Members in case of death of the member.
   • I acknowledge that I will be eligible to claim the Damayan Fund Benefit after one (1) month from the date of my membership.
   • I understand that claims must be filed within two (2) months from the time of my death, or the benefit may be forfeited.
   • I agree that the gross Damayan fund benefit shall be charged with a 10% service fee.
     
3. BENEFICIARIES
   • I understand that only family members and relatives within the specified degrees of consanguinity and affinity (as outlined in the policy) are eligible to claim the benefit.
   • I agree to declare my beneficiaries and keep this information updated with LTVTP-MPC.
     
4. CLAIM REQUIREMENTS
   • I acknowledge that the following documents are required for claiming:
   • Certified True Copy of Death Certificate of the deceased member
   • Birth Certificate of Beneficiary (if claim is for deceased parent)
   • Marriage Contract (if claim is for deceased spouse)
   • Other Proof of Consanguinity/Affinity if no children or spouse
   • Valid Government Identification Card of beneficiary
   • Completed Damayan Claim Form
     
5. AUTHORIZATION TO DEDUCT
   • I authorize LTVTP-MPC to deduct from my savings account the amount of ________________ (₱_) every time my DAMAYAN fund is depleted.
     
6. MODIFICATION OF TERMS
   • I acknowledge that LTVTP-MPC reserves the right to amend or terminate this policy at any time.