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Living up to the Mission - 43rd Anniversary

     For 43 years, AFPMBAI has truly lived up to its mission of providing responsive welfare benefits and services to its members. It has consistently developed new products, improved benefits while all the time reinforcing the meaning of service excellence. 

This is proven by the approval of the Board of Trustees of the additional P50,000 Killed-In-Action (KIA) Benefit. In line with the management’s proposal to upgrade the basic insurance, members from the AFP, BFP, and BJMP are covered by the additional KIA Benefit without any additional premium effective February 27, 2008.

A benefit for additional insurance policyholders, the Board of Trustees also approved the declaration of approximately P42M in cash dividends to 131,541 policyholders starting  April 14, 2008.  Cash dividends were released thru the banks for members who have ATM accounts and thru all on-line AFPMBAI offices nationwide.

In consonance with its desire to provide more educational opportunities to a greater number of qualified dependents of soldiers, the Board recently approved the Association’s recommendation to support the Armed Forces of the Philippines Educational Benefit System Office’s (AFPEBSO) advocacy of “Leaving No Soldier’s Orphan Behind,” through a strategic partnership that would establish the AFPMBAI-AFPEBS Educational Benefit Program. Under this program, AFPMBAI will give P1M as financial assistance in terms of annual stipend to an initial 86 college scholars who are dependents of military personnel killed-in-action. Coordination will also be made with other uniformed services regarding their scholarship programs so that the Association could also extend some financial assistance to them.

The AFPMBAI Board has also approved the grant of a P10M calamity loan for victims of Typhoon Frank, subject to the approval of the Insurance Commission.  The loan will be available to uniformed personnel in the active service residing in Iloilo, Antique, Guimaras, Aklan, Capiz and Negros Oriental/Occidental. The maximum loanable amount of P10,000, payable in 3-5 years bears an interest rate of 6% per annum. Loans were processed and released at AFPMBAI Regional Office VI located in Camp Martin Delgado, Fort San Pedro, Iloilo City.

Meanwhile, land development of Bacolod Homes Royale was completed in May.  Inauguration was held last 8 August 2008 with Bacolod City Vice Mayor Jude Thaddeus Sayson as Guest of Honor.  The Association’s Real Estate Group is now actively engaged in selling lots in “The City of Smiles”.  Since most of the members and the civilians prefer to buy a completed housing unit, construction of model houses is also underway.

Relatedly, the real estate mortgage loan ceiling has been increased from P2M to P3.5M per member, subject to existing policies of the Association. 
 Donations continued to be a part of the Association’s response to social responsibility.  For the period Jan-June 2008, a total of P366,017.00 in terms of financial assistance and support have been granted. The donation of a Suzuki multi-cab passenger type vehicle for the Headquarters Naval Sea Systems Command was also approved.  With six sub-units and a personnel strength of 1,100, the multi-cab will surely benefit the PN units in Fort San Felipe and Naval Base Cavite in Sangley, Cavite City.

Would-be retirees were also treated to a free four-day MagNegosyo Tayo! Livelihood Seminar to help them put up businesses once they join the civilian community.  Attendees from the different branches of service enjoyed lectures and demonstrations from the experts on various livelihood projects such as setting-up a water refilling station, swine raising, poultry and duck raising, organic vegetable farming, meat processing and business planning. The value of continuing one’s additional insurance upon retirement and options for capital sourcing through AFPMBAI’s loan facilities were also discussed.

Truly, AFPMBAI has once again proven to be the strong, solid and dependable partner of the members, an institution that would always be ready to face the challenges to provide for a better life for the members and their families.

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