Table of Contents

CONTENTS

FOREWORD

ABOUT YOUR COMPANY

History
Vision, MIssion and Core Values
Products and Services
Quality Policy
Subsidiaries
Awards and Recogniions
Board of Directors
Management Team

PART I - HRD POLICIES & PROCEDURES

I. RECRUITMENT AND EMPLOYMENT

A. Orientation on Day One
B. Types of Employment
C. Employment Records

II. SALARY ADMINISTRATION AND PAYROLL POLICIES

III. PERFORMANCE APPRAISAL SYSTEM

IV. PERSONNEL MOVEMENT

A. Promotion / Transfer
B. Resignation
C. Separation / Termination

V. WORK ATTENDANCE
A. Work Week / Work Hours
B. Tardiness
C. Undertime
D. Overtime
E. Unscheduled Leaves
F. Absence Without Official Leave And Unauthorized Absence

VI. CODE OF CONDUCT

VII. OUTSIDE ACTIVITIES/OFF-DUTY TIME

VIII. WORK DECORUM AND GENERAL OFFICE POLICIES

A. Breaks
B. Prescribed Office Uniforms / ID Card
C. General Office Behavior and Office Decorum
D. Company Vehicles

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 Table of Contents

PART II - EMPLOYEE BENEFITS

I. COMPANY-PAID LEAVES
A. Vacation Leave
B. Sick Leave
C. PTB Leave
D. Bereavement Leave

II. STATUTORY LEAVES

A. Maternity Leave
B. Paternity Leave
C. Military Leave
D. Parental Leave
E. Women Victims of Violence under R.A. 9262
F. Special Leave Benefit for Women

III. HEALTH BENEFITS

A. Hospitalization Plan
B. Dependent’s In-Patient Hospitalization Benefits
C. Out-Patient Expense Allowance
D. Annual Medical and Physical Check-up
E. Child Spacing Incentive Plan

IV. SPORTS AND RECREATION PROGRAM

V. FINANCIAL ASSISTANCE BENEFITS

A. Financial Assistance Plan
B. Computer Loan Program
C. Bereavement Assistance
D. Car Financing Plan
E. Housing Loan Program

VI. EXPENSE REIMBURSEMENT POLICIES

A. Reimbursable Relocation Expense
B. Out-of-Town Expense Reimbursement
C. Domestic and Foreign Travel Expense Reimbursement
D. Meal and Transportation Expenses
E. Reimbursement for Officers

VII. GROUP INSURANCE PLAN

A. Group Life Insurance
B. Group Accident Insurance

VIII. SEPARATION AND RETIREMENT BENEFIT PLAN

IX. FOOD BENEFITS

A. Rice Benefit
B. Meal Subsidy
C. Christmas Package
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 Table of Contents

PART III – CODE OF CONDUCT

PART IV – CODE OF ETHICS

PART V – 7S

PART VI – BASIC TELEPHONE ETIQUETTE

PART VII – IT SECURITY POLICIES (please refer to the intranet for details)

PART VIII – QUALITY MANAGEMENT SYSTEM /

EMERGENCY AND DISASTER CONTROL PROGRAM (please refer to the
intranet for details)

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 Foreword

FOREWORD

Welcome to the United Coconut Planters Life Assurance Corporation (COCOLIFE)! We are happy
to have you as a trainee of the COCOLIFE family and thus wish to share with you information on pertinent
policies.

Although this Handbook is compact, it is a convenient and highly informative guide towards
understanding and appreciating the Company’s HRASD Policies. Should you feel a need to clarify certain
policies, regulations or procedures, please don’t hesitate to check with the Human Resources and
Administrative Services Division.

We prepared this Handbook in a way that we hope will make your reading easy and pleasurable.
So please find time to read it carefully. I am sure that you will appreciate knowing more about your
Company and its policies.

Again, welcome to the family and happy reading!

ATTY. ALFREDO C. TUMACDER, JR.

President & CEO

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 About Our Company

HISTORY

Founded on March 20, 1978, Cocolife has since become the country’s number one Filipino-owned
stock life insurance company, with total assets at P17 billion and total revenues exceeding P4 billion. It has
also made its mark in the industry by carving an unimpeachable position as the number one Group
Insurance provider.

Cocolife offers a complete array of individual life plans, Group and Health insurance packages, as
well as related wealth management products and services through its subsidiaries in non-life insurance,
pre-need, mutual funds and security services. These products and services are marketed through 64 fully
computerized branches nationwide, manned by more than 2,000 highly trained sales associates and field
managers, augmented by professional brokers and in-house Account Executives of Group, Healthcare and
special distribution channels such as Bancassurance, Worksite Marketing and mall-based Promo-
Telemarketing units.

To create inroads in an increasingly tight market, the company developed competencies in

cornering niche markets and designing innovative products. It was one of the first accredited companies to
offer mandatory insurance to migrant workers. It likewise pioneered the marketing of insurance and loan
packages to corporate clients, SMEs and school teachers through payroll deduction, and was first in the
market to introduce a triple-guaranteed Variable Life plan. It is also poised to go into micro-insurance
operations with products customized to provide the best fit, given the capacity and needs of the mass
market.

Adhering to international best practices, Cocolife remains the first and only life insurance
company in the Philippines to have earned ISO 9001:2000 certification, the hallmark of quality recognized
worldwide. It has also received plaudits as Outstanding Insurance Company and Outstanding Health
Maintenance Organization from prestigious award-giving bodies such as the Parangal ng Bayan National
Consumers Excellence Awards, Asia Pacific Excellence Awards, Philippine Marketing Excellence Awards,
Philippine Business Achievers Awards, and National Consumers Quality Awards.

With 35 years of continued service to the insuring public, its sound administration, prudent
investment practices and efficient cost management, Cocolife has indeed achieved leadership prominence
and, with its clear strategy, strong marketing thrusts, and solid financial position, it remains committed to
give you, our clients, “Freedom to Live Your Life!”

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 About Our Company

OUR VISION
COCOLIFE shall be a leading provider of insurance products and related financial services.

OUR MISSION
We are a recognized leader in the insurance industry, with the fundamental purpose of providing the
benefits of life insurance and other related financial products and services to our fellowmen.

We are committed to quality – quality in our products and services, and quality in our relationships
with our clients, employees, and sales associates.

Our strength is our people. We are dedicated in bringing out the best among our employees and sales
associates by providing job security, competitive compensation, and opportunities for professional growth
and personal development.

We have a social responsibility to improve quality of life and shall always espouse positive Filipino
values.

OUR CORE VALUES

In fulfilling our mission, we are guided by the following core values: Teamwork, Excellence, Reliability,
Integrity and Empathy.

Reliability We pledge to honor our commitments to our customers and to persevere in continually
improving our products and services to better provide for their needs. We have earned
the trust and confidence of the insuring public and we shall at all times conduct
ourselves worthy of such trust.

Excellence We are passionately committed to operational excellence, leading in the markets we

serve, and being known as a great company and a great place to work in. We are
determined to be the best, putting our hearts and mind at doing what matters most.

Teamwork We blend the strength of each individual’s skills and knowledge and hold ourselves
mutually accountable to ultimately achieve our common goal. We work together
effectively and selflessly, treating each other with dignity, mutual regard, kindness and
courtesy at all times.

Integrity We shall uphold uprightness and moral wholeness in all our transactions and
interactions. We are honest and truthful and we do things right. We take pride in our
work and always act with professionalism.

Empathy We are intensely focused on creating the most positive experience for our clients,
always seeking to understand their feelings and perspective with unbiased
consideration and regard for their needs. We shall serve them with heart and warmth,
caring and reassurance.

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 About Our Company

COCOLIFE has designed a variety of products and services to meet your varied needs…protection for the
future, education, savings, medical, investment and retirement needs.

INDIVIDUAL PRODUCTS

Whole Life Plans Dollar Plans

Endowment Plans Pension Plans
Term Plans Educational Plans
Variable Life Insurance Accident Insurance

GROUP INSURANCE

Group Yearly Renewable Term Mortgage Redemption

Group Accident Insurance Credit Life Insurance
Group Retirement Plan Student Plan

HEALTHCARE

HMO (Card Type)

Health Insurance (Reimbursement type)
Hospital Income
Third Party Program Administration

QUALITY POLICY

COCOLIFE provides life insurance and other financial services.

We delight our customers through our efficient operation and excellent services.

We want to be known as a stable, reliable and quality- driven company.

In order to achieve this, we shall strive for sustainable growth and profitability, fulfill our obligations to
policyholders, seek customer feedback, continually improve our operations and uphold the highest
standards of ethics and responsibility in honoring our corporate commitments.

SUBSIDIARIES

1. UCPB Gen – Non-life Insurance

2. Cocolife Asset Management/CAMCI– Mutual Funds
3. COCOPLANS – Memorial Parks
4. HealthAssist – Clinic Staffing & Management
5. Direct Link – Car Insurance
6. Archipelago Motors – Car Repair Shop & Maintenance
7. All Nation Security Services – Security Services

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 About Our Company

AWARDS & RECOGNITIONS

 Asia-Pacific Excellence Award

 The Consumers Union of the Philippines
 The Global Excellence Award
 Philippine Business Achievers Award
 National Consumers Quality Awards
 Philippine Marketing Excellence Awards
 People’s Choice Seal of Excellence Awards
 Parangal ng Bayan and National Consumers Excellence Awards

Board of Directors

Atty. Juan Andres D. Bautista

Chairman

Atty. Alfredo C. Tumacder, Jr. Carolina G. Diangco

Karlo Marco P. Estavillo Rogelio V. Paglomutan

Roberto B. Armada Atty. Emerson B. Aquende

Management Team

Atty. Alfredo C. Tumacder, Jr.

President & CEO

Isabelo P. Africa Artemio A. Tanchoco, Jr.

Chief Actuary SVP- Finance

Loumel C. Maagma Caesar T. Michelena

SVP- Healthcare SVP – Individual Marketing

Elmo A. Nobleza Teresita UB. Dela Vega

SVP- Life Sales & Marketing SVP- Human Resources &
Administrative Services

Ferdinand N. Santos
SVP- Alternative Distribution Channel

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 PART ONE
HRD Policies and Procedures
I. RECRUITMENT AND EMPLOYMENT

We are happy to welcome you to COCOLIFE. You are among the selected and privileged few
who successfully hurdled the battery of tests and interviews before gaining acceptance into the
Company.

In COCOLIFE, we ensure a recruitment process as well as employment selection procedures

that are professional and which adhere to our tradition and values of quality and objectivity.

A. Orientation on Day One

Employee Selection and Training Department (ESTD) will conduct an orientation session on
your first day with Cocolife. This will acquaint you with the Company’s history, its services and
products, the Management staff, the organizational structure, and HRD policies and employee
benefits, among other important information. You will also be accomplishing pertinent documents
and forms.

B. TYPES OF EMPLOYMENT

1. Probationary Employment

Rank and file employees will go through a probationary employment status of six months.
During this period, your Supervisor will closely monitor the progress you have made in your work.

On your fourth month, you will meet a panel of interviewers who will determine your
readiness to fully assume the duties of your position. The results of your panel interview and
Performance Appraisal will determine your permanent employment.

2. Permanent Employment

Having hurdled the panel interview and turning out a satisfactory performance during the
probationary period, you are now ready to assume a permanent employment status. All required
documents shall be submitted before your official appointment to permanent status is signed by the
President of the Company.

As a permanent employee, you will be entitled to all of the Company’s privileges and benefits.

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 C. EMPLOYMENT RECORDS

HRD is responsible for the safekeeping and updating of your records, known as the 201 file.

Inside it are your application and appointment papers, results of examinations, clearances,
and other pertinent documents. Please inform HRD, in writing, on changes in any of the following:

1. Civil status

2. Number of dependents

3. Home address

4. Educational attainment

5. Government examinations passed

6. Courses/seminars taken

II. SALARY ADMINISTRATION AND PAYROLL POLICIES

Your Company always strives to provide and maintain a compensation package that is
competitive with that of other companies in the industry. We always endeavor to participate in a
survey on compensation and employee benefits of companies in the same or similar industry.

Salary adjustments are given to those who performed satisfactorily during the year of review.
You can be sure that your good performance and achievements will be recognized and rewarded.
th th
Salaries are released every 15 and 30 of each month. As you become permanent and thus
become entitled to the Company bonus, your compensation package will include a Mid-Year bonus
and a Christmas bonus, each equivalent to one month of your basic monthly salary (or pro-rated, if
tenure is less than 6 months for mid-year bonus, or less than 12 months for Christmas bonus).
th
Likewise, the 13 month pay as provided by the Labor Code is given in December of each year.

Should an employee resign before the end of the year, Mid-Year Bonus shall be deemed
th
compliance with the 13 month pay law. This shall be recomputed to comply with the said law and
any excess thereof shall form part of the resigning employees’ accountabilities.

III. PERFORMANCE APPRAISAL SYSTEM

Each year, your Supervisor appraises your work performance using the official Performance
Appraisal Form.

The ratings are reviewed and confirmed by your Department / Division Head. Your Supervisor
should discuss with you the results of the appraisal during a “one-on-one” session.

Merit increases, usually a reward for exemplary work performance, may follow.

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IV. PERSONNEL MOVEMENTS

Personnel movements refer to your promotion, transfer, resignation, termination or

separation.

A. PROMOTION / TRANSFER

Whenever a position needs to be filled up, COCOLIFE employees are given first priority.
Should the vacancy be a higher job grade level, you may either apply for it or your Supervisor may
recommend you. There are already established guidelines for promotion for everyone to follow.

Should the position belong to the same job grade level as your present position, you may still
apply for it following procedures governing transfer or change of job assignment. Moreover, it may
also happen that your transfer may be initiated by Management whenever the exigencies of work so
require. Normally, job transfers do not carry a salary adjustment.

B. RESIGNATION

In the event when you decide to resign from COCOLIFE for one reason or the other, you will
need to submit a letter of resignation addressed to the President through the Department / Division
Head at least 30 days prior to the date of effectivity. Failure to comply with this policy will mean the
holding of your clearance and the benefits due you. All resignation letters need the acceptance of
the President. ESTD will arrange for an exit interview before the release of your clearance
certification.

C. SEPARATION/TERMINATION

Upon reaching the age of 65, your retirement from COCOLIFE will enable you to enjoy the
benefits of your long and satisfying service, as provided for under the Separation and Retirement
Benefit.

On the other hand, you will be terminated for cause if found guilty of committing a prohibited
act that mandates dismissal from the Company. Unsatisfactory performance, poor attendance,
excessive tardiness, among other factors, are the causes for separation or dismissal. A dismissed
officer/employee will lose or forfeit his/her accrued benefits upon separation for cause.

Clearance from any money, records or property accountabilities shall be obtained before the
Employment Clearance is released by HRD.

V. WORK ATTENDANCE

Everyone is expected to devote full time to his/her work. Therefore, we urge you to minimize
your absences. The following pages will acquaint you with the policies concerning work attendance
such as a Work Week/Work Hours, Tardiness, and Overtime.

A. WORK WEEK/WORK HOURS

Our five-day work week spans 40 hours at 8 hours per day, Mondays to Fridays. Office hours
for head office personnel are generally from 8:00 a.m. to 5:00 p.m. with a one-hour lunch break,
unless otherwise changed by the Company to meet exigencies of the service. We generally observe
this schedule:

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 8:00 a.m. – 12:00 p.m.
Lunch Break
1:00 p.m. – 5:00 p.m.

For branch personnel, work schedule is as follows:

Metro Manila, Provincial Area & Branch Offices - 8:30 a.m. – 5:30 p.m

Your Department/Division Heads may be authorized to stagger the lunch schedule of their
staff.

B. TARDINESS

Every month, the allowable maximum number of tardiness is five (5). Going beyond this limit will
automatically be considered an offense. The number of offenses will be dealt with as follows:

1st Offense - oral reprimand with counseling form (immediate superior)

2nd Offense - written reprimand (Department Head)

3rd Offense - written reprimand (Division Head)

4th Offense - 1 day pay deduction from salary

5th Offense - 2 days pay deduction from salary

6th Offense - 3 days pay deduction from salary

7th Offense - 4 days pay deduction from salary

8th Offense - 5 days pay deduction from salary

9th Offense – dismissal

Tardiness is cumulative in a year. Zero (“0”) offenses and offenses incurred from the 1st to the 4th,
enjoy a clean record in January of each year but starting from the 5th offense, counting shall be
carried over the following year. If zero (“0”) offense is then committed during that year, the clean
slate policy will be re-applied.

The total cost of tardiness during the month shall be computed and deducted against your
succeeding month’s salary.

C. UNDERTIME

For urgent reasons, leaving your workplace before the close of office hours may be allowed
by your Department Head. For example, if you are stricken ill during office hours, you may file
undertime provided it will be certified by the Medical Director. Another reason would be an
emergency which concerns your family that requires your immediate presence or attention.

D. OVERTIME

Overtime work will follow a 3 – day schedule (Mondays, Wednesdays, and Fridays only) from
5:15 to 8:00 pm only. The minimum number of hours required for overtime shall be two (2) hours.
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 Overtime on cut-off periods other than the above schedule shall be cleared and approved by
the Division Heads prior to any overtime work.

Before you render overtime work, be sure that you register it through the Online Overtime
and Leave Application System (OOLAS) and submit it to your immediate superior for
recommendation/approval not later than 2:00p.m. of the same day.

As much as possible, all official provincial trips (audit, field investigation, etc.) shall be on
regular work hours. The approving officer however may approve any overtime if he finds it more
practical and cost-efficient to allow his / her staff to travel before or beyond the regular work hours.
The duration of the trip vis-a-vis the schedule / completion of the assigned activities shall likewise be
considered before approving any overtime.

E. UNSCHEDULED LEAVES

On your first year with COCOLIFE, you may not be allowed to go on unscheduled leave with
pay. However, as you complete one year of continuous service, you may go on unscheduled leave
with pay for a maximum of five days in one year to cover unforeseen events affecting your
immediate family.

F. ABSENCE WITHOUT OFFICIAL LEAVE (AWOL) AND UNAUTHORIZED ABSENCE (UA)

If you fail to send notice to your Supervisor or Department Head after your third day of
absence, you will automatically be placed under AWOL and will be subject to disciplinary action in
accordance with the provisions of the Code of Conduct.

Moreover, upon reporting back to work after your absence, you should file your leave in the
Online Overtime and Leave Application System (OOLAS) whether or not you have notified your
Supervisor. If your reason is rejected, your absence will be considered an Unauthorized Absence
(UA), a violation under the Code of Conduct.

Therefore, you must always file a leave of absence prior to going on leave or notify your
Supervisor if you are unable to report for work. Immediately upon reporting back to work, file the
leave and seek the approval of your Department Head.

VI. CODE OF CONDUCT

Much like any effective business firm, our Company maintains a set of prohibited acts that are
preventive rather than punitive in nature. The acts embodied in your Code of Conduct are required
to ensure the efficient operations of the Company’s business. They exist mainly for your protection
and should guide you in your day-to-day activities and relationships.

Whether the violation is serious or light, due process will be observed; investigation of very
serious offenses will be done by a Committee on Employee Discipline (CED).

Please read and understand these rules or prohibited acts. Should you have any doubt,
please do not hesitate to consult with your Supervisor. The details of the Code of Conduct are
provided in a separate manual.

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VII. OUTSIDE ACTIVITIES AND OFF-DUTY TIME

Your time off-duty is your personal concern, but please seek clearance from higher
Management if you plan to work part-time, enroll in a review class, a short course, or graduate
studies after office hours; provided it must be proven that it will not adversely affect or be a
hindrance to a person’s or to the unit’s performance.

REQUESTOR APPROVING AUTHORITY

Officers - President (thru Division Heads)

Non-Officers - Division Heads (thru Line Managers)

New employees, during their first year of employment with the Company, are refrained from
enrolling in any of the above-mentioned courses/studies and to engage in part-time work.

VIII. WORK DECORUM AND GENERAL OFFICE POLICIES

A. BREAKS

Breakfast and coffee break are provided following a schedule approved by the Company:

Morning 8:00 a.m. – 8:15 a.m.

Afternoon 3:00 p.m. – 3:15 p.m.

Everyone is expected to observe the above schedule and be back at the work area
immediately after.

B. PRESCRIBED OFFICE UNIFORMS/ID CARD

Once Company uniforms are issued, you are required to wear a set prescribed for the day.
Likewise, your ID card may be worn with your uniform while you are inside the Company’s premises.
Your ID card must contain your picture, signature of authorized officer, employment date, person to
be notified in case of emergency, TIN/SSS, and blood type, among other information. Failure to
comply with the policy will result in disciplinary action in accordance with the provisions of the Code
of Conduct.

C. GENERAL OFFICE BEHAVIOR/OFFICE DECORUM

During regular office hours and overtime period, everyone is expected to observe generally
accepted office practices and office decorum. Please remember these guidelines at all times:

1. Personal calls using the Company’s telephone either during office hours or off hours should
be limited to very urgent/emergency reasons.

2. Employees are expected to remain in their respective workplaces and avoid unnecessary or
loud conversation/laughter.

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3. Conducting personal business during office hours is prohibited. This includes selling or
distributing consumer items, as well as personal communications by telephone/mail and any
other activity not related to official work.

4. Answer the telephone promptly and always be courteous and helpful to the caller.

D. COMPANY VEHICLES

In case your Department/Division Head requests you to undertake an official assignment

within Metro Manila or in the provinces, you may be allowed to use any vehicle in the pool of
Company vehicles, provided you are duly authorized by the designated officers of the Company.
Always bear in mind that Company vehicles must be used and operated in accordance with the
purpose of the trip, and improper use/operation will be subject to disciplinary action. Request for
use of Company Vehicle Form with the proper approvals must be submitted to the Facilities
Management Department prior to the release of an available vehicle.

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 PART TWO
Employee Benefits

COCOLIFE’S package of employee benefits easily ranks among the best in the insurance industry.

COCOLIFE adheres to its mission statement, “Our Strength is Our People.” It is our belief that behind
our continued success are the employees’ valuable contributions and support in the pursuit of our
corporate vision. As such, the Company is committed to provide our human resources with a competitive
compensation and benefits package, as well as opportunities for professional growth and development.

I. COMPANY - PAID LEAVES

A. VACATION LEAVE

The paid vacation leave is one major employee benefit that affords you momentary pause
and rest from office concerns and allows you to recharge your energies.

Upon completion of one year of continuous service with the Company, you may avail of
vacation leave with pay. However, you should complete one year of permanent service to earn the
full 15 days leave credits. You are allowed to accumulate leave credits up to a maximum of 30
working days during your tenure or you may convert these to cash upon resignation or separation.
Please see Policy on Leave Benefits for details.

1. Scheduled Vacation Leave

For scheduled leaves of 5 to 15 continuous days, approval shall be within the first quarter of
the year. Changes if any shall be refiled and approved before actual availment following existing
guidelines.

Scheduled leaves may also be availed for the following reasons on a staggered basis but shall
be pre-approved within the first quarter of the year: birthdays, death anniversary of immediate
family members, enrollment, school-related activities of dependents and appearance in court
hearings.

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 2. Unscheduled Vacation Leave

A maximum of 5 days absences due to personal, emergency and other unforeseen reasons is
allowed within a year. However, approval shall not be automatic even if there are available leave
credits. When determined by your superior to be superfluous, it shall be disapproved and shall be
considered leave without pay. Any unscheduled vacation leave in excess of 5 days per year shall
likewise be with pay provided approved by your immediate superior and department head.

Furthermore, unscheduled leave before and after Sunday and all holidays as well as leave
beyond the approved scheduled annual leave shall be without pay regardless of employees' accrued
leave credits. This shall be considered AWOL, subject to the provisions of our Code of Conduct.

B. SICK LEAVE

While no one wishes to be stricken ill to avail of the sick leave benefit, the Company provides
you with sick leave credits should the need for them arise.

Like the vacation leave, you may avail of your sick leave with pay after one year of continuous
service with the Company. The full 15 days credit shall be earned after one year of permanent
employment. Sick leave credits may be cumulative up to 30 working days and credits in excess of 30
days, may be converted to cash within the first quarter of the ensuing year. A maximum of 30 days
credit may be converted to cash upon separation/resignation.

Your absence due to actual illness shall be reported immediately to your superior and as you
report back to work you must file the application for leave, and secure the approval of your
Department Head. A medical certificate shall be required for absences of three (3) days or more.
Please see Policy on Leave Benefits for details.

C. PTB LEAVE

PTB Leave is granted to employees who may be found with acute tuberculosis by our Medical
Consultant. In addition to leave benefits, a maximum of 30 calendar days with pay may be granted
upon the recommendation of the Medical Director and approval by the President.

D. BEREAVEMENT LEAVE

Bereavement leave of two (2) days with pay is granted to employees for the death of an
immediate family member which includes spouse, children, parents, siblings, or parents-in-law.

II. STATUTORY LEAVES

A. MATERNITY LEAVE ( for female employees)

This leave benefit conforms with the existing provisions of the Labor Code. If you are female
and have put in the required minimum number of monthly contributions before the actual childbirth
or miscarriage, you are qualified to take a leave of 60 calendar days. However, if you deliver your
child by caesarian section, your leave is extended up to 78 calendar days.

Please file the Social Security System (SSS) Notification Form with HRD not later than two (2)
weeks before your expected date of delivery.

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B. PATERNITY LEAVE ( for married male employees)

This leave benefit, just like the maternity leave benefit for female employees conforms with
the existing provisions of the Labor Code. A total of seven (7) working days with full pay may be
availed of by married male employees for the first four (4) deliveries, miscarriage or abortion. This
benefit shall be availed of not later than sixty (60) days after the date of said delivery.

Please file paternity leave through the Online Overtime and Leave Application System
(OOLAS) not later than the second day of availment of paternity leave. The leave must be approved
by the Department Head and a Certification from the attending physician showing actual date of
childbirth, miscarriage, abortion or a photocopy of birth certificate is submitted.

In the event that the paternity leave benefit is not availed of, said leave shall not be
convertible to cash.

C. MILITARY LEAVE

Absence in fulfillment of a military obligation shall be granted to male employees when called
by the Armed Forces of the Philippines (PD 183.)

The employee must file the application for leave together with the pertinent documents and
must report back within three (3) working days upon completion of duty. However, he is required to
present the corresponding certification of honorable discharge to HRD.

D. PARENTAL LEAVE

1. Leave Benefits granted to a solo parent to enable him/her to perform parental duties
and responsibilities where physical presence is required.
2. Has rendered at least one (1) year of service.
3. Has notified the employer of the availment thereof within reasonable time period.
4. Has presented a Solo Parent Identification Card issued by DSWD.
5. Not more than 7 working days per year, on top of other leave benefits, but can be
availed only if earned vacation leave credits are already exhausted or consumed.
6. Non-cumulative and non-convertible to cash.

E. WOMEN VICTIMS OF VIOLENCE UNDER R.A. 9262

1. Has certification issued from Punong Baranggay/Kagawad or Prosecutor or the Clerk

of Court, as the case maybe at no cost, to the woman that such and action is
pending.
2. Not more than 10 working days per year, on top of vacation leave benefits.
3. Non-cumulative and non-convertible to cash.

F. SPECIAL LEAVE BENEFIT FOR WOMEN

1. With at least six months’ aggregate employment service rendered in the 12 months
prior to the surgery.
2. Has applied within a reasonable period of time from the expected date of surgery,
with appropriate certification and medical records from competent physician.

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 3. Has suffered Gynecological Disorders and undergone surgical procedures such as but
not limited to dilation and curettage and those involving reproductive organs such as
vagina, cervix, uterus, fallopian tubes, ovaries, breast, adnexea and pelvic floor, as
certified by competent physician.
4. Not more than two (2) calendar months per year, on top of other company vacation
and sick leave benefits.
5. Non-cumulative and non-convertible to cash.

III. HEALTH BENEFITS

The time-tested adage of a “sound mind in a sound body” aptly describes COCOLIFE’S
commitment to your health and physical well being. The Company’s health program includes a
comprehensive non-contributory HMO plan; an out-patient expense allowance for medical, dental,
and optical expenses; clinic services administered by a full-time medical staff; annual physical and
medical check-up; and child spacing incentive. Forms for enrollment and availment can be obtained
at HRD.

A. HOSPITALIZATION PLAN

Upon appointment to permanent status, you will start to enjoy the HMO benefit of the
Company. A maximum amount of P120,000 per year (for non-officers) or P160,000.00 per year (for
officers) will be available to cover your hospitalization expenses on a per ailment and confinement
basis.

B. DEPENDENT’S IN-PATIENT HOSPITALIZATION BENEFITS

Employees may avail of their dependents hospitalization benefit based on guidelines under
the reimbursement scheme.

C. OUT-PATIENT EXPENSE ALLOWANCE

Upon permanency, you will be entitled to an allowance for medical, optical, and dental
expenses. At present, the maximum amount you and your dependents may avail of is P13,000 per
year, provided you have completed 12 months of tenure from your permanency date. Please refer
to Policy of benefits in the intranet for details.

D. ANNUAL MEDICAL AND PHYSICAL CHECK-UP

To ensure and maintain the health and physical well-being of COCOLIFE officers and
employees, all permanent officers and employees are required to take the yearly medical and
physical examinations. These are at the expense of the Company. Officers undergo an executive
check-up at a hospital of their choice or at any of the Company’s accredited hospitals, up to a
maximum of P12,000 per year.

On the first quarter of each year, HRD prepares the schedule of the annual check-up for all
qualified officers and employees, and each one is urged to go through the check-up as scheduled.

E. CHILD SPACING INCENTIVE PLAN

As your Company’s contribution to the family planning campaign, COCOLIFE grants an

incentive to married employees or their respective spouses not employed by the Company. Under
the incentive program, a married female employee or spouse of a male employee will be eligible to
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 an incentive of P5,000 for normal delivery or P10,000 for caesarian section, provided your first child
is born after you have rendered at least five years of continuous service with the Company.
Subsequent births should be spaced at four-year intervals for the qualified employee to enjoy the
incentive again.

IV. SPORTS AND RECREATION PROGRAM

On an annual basis, your Company prepares and implements organized sports and recreation
activities. These activities develop the physical well-being of officers and employees and foster
team spirit among the staff. HRD, with the assistance of the Employee Relations Committee, (ERC)
handles the preparation and implementation of the much-awaited Company sports and recreation
programs.

V. FINANCIAL ASSISTANCE BENEFITS

While the health benefits package was evolved to make sure that you stay healthy and
physically fit all the time, the Financial Assistance Benefits were designed to let you and your
immediate family sail through times of emergency and great need, and to give you and your family
opportunities to improve your quality of life.

A. FINANCIAL ASSISTANCE PLAN ( FAP )

As a permanent employee, you will be eligible for financial assistance from the Company to
tide you and your family over during times of great need. Or you may choose to acquire some much-
needed home equipment or appliance. The maximum loanable amount at employee subsidized
interest rates of 8% based on the following schedule:

MAXIMUM LOANABLE AMOUNT

Based upon the employees’ tenure as follows:

TENURE LIMIT

8 years or more four times (4X) the actual

monthly gross (AMG)
7 years & 11 mos. three times (3X) AMG
6 years & 11 mos. two times (2X) AMG
below 6 years one month (1X) AMG

MAXIMUM PAYMENT TERM

One (1) year to three (3) years at the option of the employee and following the
employees’ tenure as follows:

TENURE MAXIMUM PAYMENT PERIOD

Less than three (3) years one (1) year in 24 semi-monthly amortization
3 years to less than 5 years two (2) years in 48 semi-monthly amortization
5 years and above three (3) years in 72 semi-monthly amortization

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 Credit Ratio : Monthly amortizations for all loans inclusive of this loan and statutory
deductions must not exceed 45% of actual monthly gross pay.

Re-availment is allowed when you have fully paid the existing FAP.

B. COMPUTER LOAN PROGRAM

The Computer Loan Program with Company-subsidized interest rate of 6% per annum is open
to permanent employees and officers and may be availed of based on the following schedule:

Tenure Limit Maximum Term

5 years or more 4 months effective 3 years in 72 semi-

monthly gross (EMG) monthly amortizations

4 years to 4 years 3 months EMG 2 years in 48 semi-monthly

& 11 mos. amortizations

3 years to 3 years 2 months EMG 2 years in 48 semi-monthly

& 11 mos. amortizations

6 mos. to 2 years & 1 month EMG 1 year in 24 semi-monthly

11 mos. amortizations

Credit ratio is similar to Financial Assistance Program and re-availment is once every 3 years
provided previous loan is fully paid.

C. BEREAVEMENT ASSISTANCE

The Company continues to be behind you especially during times of loss and great sadness.
Your Company has a bereavement assistance program that offers immediate help in case of the
death of an employee or any qualified member of his/her family. The program will release P10,000
upon the death of qualified family members or P50,000 for any permanent employee. Employees
on probationary status receive P5,000.

D. CAR FINANCING PLAN

As a permanent employee, you are eligible for a car loan up to the maximum amounts
approved by Management for a new car or a used car that should not be more than four (4) years.
Capacity to pay and the purpose behind the application for car financing are two of the paramount
criteria in the approval of the loan.

Subject to the review and approval of Management, the schedule below shall be
implemented:

MAXIMUM LOANABLE AMOUNT

No Limit provided within credit ratio.

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 MAXIMUM PAYMENT TERM

New Car : 7 years

Used Car : 4 years

INTEREST RATE : 9%

EQUITY

For new car : 10% of cost or appraised value

For old car : 20% of appraised value or cost, whichever is lower.

RELEASE SCHEDULE : one-time

COLLATERAL : Chattel Mortgage on car

CREDIT RATIO : 45%

E. HOUSING LOAN PROGRAM

Our Company is one of the few companies in the insurance industry that provides a housing
loan program at all employee levels.

Permanent employees with at least three years of continuous service in the Company and
who do not yet own a home are eligible for the housing loan. However, if you already own a house,
you can still apply for a loan with the purpose of major renovation or expansion of your existing
residence. The maximum loanable amount for a housing loan and for renovation or improvement of
an existing residence is approved by Management. Current guidelines are as follows:

PURPOSE Purchase of Lot Only, House and Lot or Condominium Unit

Re-financing of Housing Loan
Construction of residential house on lot owned by the borrower
Major renovation, expansion
Upgrading

ELIGIBILITY 3 years of service

LOAN LIMIT Officers : P10.0 M

Rank & File : P 5.0 M

* provided within credit ratio

INTEREST RATE

Rank & File/Officers

st
1 100K = 5%
in excess of 100K = 6%

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 AVAILMENT FREQUENCY
rd
Major Renovation - After the 3 year, maximum of 2 renovations
th
Upgrading - After the 5 year, provided that the previous loan has been
fully paid and the property previously acquired is sold, and the new property to
be acquired shall be the primary residence of the borrower. Re-availment for lot
purchase shall not be allowed for the same purpose. Borrower may re avail for
upgrading purposes only once in his/her employment span with COCOLIFE.

REPAYMENT TERM

New Loans – Maximum of 20 years; not to exceed the mandatory

retirement age of borrower

Renovation – Co terminus with existing Employee Housing Loan

Upgrading – Remaining term of the original EHL shall be used for the
re-availed loan, not to exceed the retirement age of the
borrower

EQUITY 10% of the appraised value

CREDIT RATIO 50%

VI. EXPENSE REIMBURSEMENT POLICIES

Officers and employees may claim reimbursement of their expenses in the course of
discharging their duties and responsibilities, subject to prescribed limits and
presentation/submission of official receipts.

A. REIMBURSABLE RELOCATION EXPENSE

When you are assigned temporarily outside of your regular assignment and the location goes
beyond Metro Manila or if area of operation is in the province, it must be beyond 50-kilometer
radius from your regular base, you are entitled to a fixed reimbursement. The duration of the
assignment must be more than seven calendar days and need an advance notice so that Human
Resources can help look for a place to stay. This is a company-initiated change of assignment.

For maximum duration of 6 months

A. Monthly Rental (from place of assignment within 5 to 7 km radius) and food subsidy

6. Metro Manila

Rank Rental* Food Subsidy**

Non-Officer Actual, max of 4K P1,500

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 AM to SM P10,000 P1,500

AVP to SVP P15,000 P2,000

7. Provincial

Rank Rental* Food Subsidy**

Non-Officer Actual, max of 3K P1,000

AM to SM P5,000 P1,000

AVP to SVP P10,000 P1,500

* Subject to liquidation and presentation of receipts (inclusive of utilities and laundry)

** Outright expense and not subject to liquidation

B. Travel Expense – if an assignment is initiated by the management, the company

shoulders the actual travel expenses incurred by the employee during transfer from
home base to new assignment and vice versa.

C. Transportation Subsidy or Home Leave

1. The transportation subsidy for family visit is twice a month = actual expenses
and subject to liquidation and presentation of receipts.
2. Company/Personal car – refer to letter E: Transportation/Gasoline Allowance
3. It is the responsibility of the Unit Head that works are finished on time.

D. Actual daily transportation reimbursement – any public transport EXCEPT taxi from office
to rented place or vice versa.

B. DOMESTIC / OUT-OF-TOWN DAILY TRAVEL EXPENSE REIMBURSEMENT

When your Department/Division Head requests you to go on official trip outside Metro
Manila or if area of operation is in the province, it must be beyond 50-kilometer radius from your
regular base, with the trip taking seven days or less, you can claim a reimbursement for board and
lodging, plus transportation expenses. The amount for board and lodging varies and this includes
meetings and trainings. The schedule for daily travel expense reimbursement is found below:

Position / Rank Amount TAO Approval

President Actual n/a

Officer Actual Lodging*+P700 per diem President
(see breakdown below)
Breakfast – P200
Lunch – P250
Dinner – P250

Officer (within Same as above Division Head

scope of assigned tasks)

Non-officer Actual Lodging*+P400 per diem Division Head

(see breakdown below)
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 Breakfast – P100
Lunch – P150
Dinner – P150
Note:
a. Per Diem shall be actual with submitted official receipts with maximum limits based on
breakdown.
b. Claim period: if departure/flight is before 8:00 AM, breakfast can be claimed, if before
12:00 PM, lunch and dinner can be claimed and if after 2:00 PM, only dinner can be
claimed.
c. Stay in reasonable 3 to 4 star hotel (coordinate with BOS/Area Head for
recommendation);
d. *Must liquidate and submit Statement of Account (SOA) and Official Receipt (OR), within
the prescribed period.
e. Book from any airline company with promo rate (if possible);

Position / Rank Airlines

President Business Class

Officers / Non-officer Economy Class

f. Must liquidate and submit boarding pass and ticket;

g. Re-booking/cancellation charges shall be shouldered by the employee unless the
cancellation is management initiated.

C. FOREIGN TRAVEL EXPENSE REIMBURSEMENT

If you are requested by your Department/Division Head to undertake an assignment or attend

a seminar or represent the Company in a conference in a foreign country, you are eligible to an
allowance or reimbursement of expenses to cover the cost of meal and hotel expenses, subject to
prescribed limits and presentation/submission of official receipts. Schedule is as follows:

a. Hotel Accommodation – Standard room for all ranks (3 to 4 stars), must liquidate and
submit statement of account (SOA) and official receipt (OR), within the prescribed
period.
b. Incentive/Drive travel – No per diem regardless of rank.
c. Training aboard or Seminar or Convention:

Position / Rank Amount TAO Approval

President Actual for food and transpo n/a

Officers *US $150 per diem for food & transpo President
Non-officer *US $150 per diem for food & transpo President
* For per diem – non submission of receipts and no breakdown.

d. Book from any airline company with promo rate (if possible);

Position / Rank Airlines

President Business Class

Officers / Non-officer Economy Class

e. Must liquidate and submit boarding pass and ticket;

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 f. Re-booking/cancellation charges shall be shouldered by the employee unless the
cancellation is management initiated.

D. TIPS

Tip is allowed for a maximum of P200.00 only for meals, porter tips, etc.
a. For Travel: Tips shall be given for meal expense of more than P500 and only if
there is no service fee.
b. For Events: Case to case basis; should be accompanied by an acknowledgement
receipt.

E. TRANSPORTATION / GASOLINE ALLOWANCE

1. A. Company assigned vehicles:

Actual KM reading / 8KM / Liter x price of gasoline/liter.

B. Marketing Subsidy / Personal or Owned

Actual KM reading / 6KM / Liter x price of gasoline/liter.

2. Taxi and other means of transportation, like Public Utility Vehicle, are acceptable.

3. Transportation provision is actual, based on reasonable amount.

Conditions:

- Vice President Officers with gasoline allowances are not allowed to reimburse
gasoline expenses within Metro Manila or if area of operation is in the province,
within 50 KM radius.
- Car pooling should be encouraged in going to official branch visits/events.

Note: The price of gasoline shall be based on “premium/unleaded or diesel gasoline”

whichever is applicable.

F. MEAL SUBSIDY

A. Metro Manila outside area of operations for officers and staff, or as defined by respective
Division Head:

1. Work rendered involves assignment to a different branch/unit as reliever (employee is

informed of reliever function only after he has reported for work).
2. The allowance does not apply if the employee is informed of the reliever function, at
least a day in advance.
3. Work rendered by employees, between 10:00 AM – 2:00 PM is entitled of lunch
subsidy amounting to P150.00.
4. Non-submission of receipts.

B. Metro Manila outside area of operations for messenger / contractual driver:

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 1. Meal subsidy is P100.00/day and if assigned outside Metro Manila, the meal subsidy is
P100/meal.
2. No receipt is required.

G. OFFSETTING OF WORKING WEEKEND TO WEEKDAY WORK

Okay to swap work from weekend to weekday absence, if there is actual conduct of official
business, EXCEPT for personal development.

H. SOCIAL EVENTS

For company sponsored and other official marketing-related activities which include, but not
limited to: sportfest; cocolympics; Christmas party; awards night; special events; etc.

- Transportation and meals may be reimbursed subject to existing guidelines.

- Overtime is allowed in excess of 8 hours regular work for non-officers (committee
members only).

I. TOLL FEE: Skyway toll fee can be reimbursed.

VII. GROUP INSURANCE PLAN

A non-contributory Group Life Insurance and Group Accident Insurance for officers and
employees are provided by your Company. To make sure that you and your beneficiaries will be
adequately protected, your Group Life Insurance has Accidental Death and Dismemberment (ADD)
and Total Permanent and Partial Disability (TPPD) benefits. The Group Accident Insurance has
Corporate Travel Insurance (CTI) which covers official business trips of both officers and employees,
and Medical Reimbursement (MER).

The amount of insurance for each insured employee shall be determined from this schedule:

A. Group Life Insurance

Classification Amount of Insurance

GYRT ADD TPPD

Chairman / P1M P1M P2M

Directors

Regular Officers and 2 x GAS* 2 x GAS* 4 x GAS*

Employees

Probationary P 10 K P 10 K -

• gross annual salary

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 B. Group Accident Insurance

Classification Amount of Insurance

ADD CTI MER

Board of Directors P2M P2M P 200 K

AVP to President 2 x GAS* 2 x GAS* 200 K

Asst. Mgr. to Sr. 2 x GAS* 2 x GAS* 100 K

Mgr.

Regular Employees 2 x GAS* 2 x GAS* 25 K

Probationary P 50 K P 50 K 15 K

* gross annual salary

VIII. SEPARATION AND RETIREMENT BENEFIT PLAN

A non-contributory separation and retirement benefit plan is provided by your Company.

This covers all permanent employees and officers of the Company.

Normal retirement age is set at 65 years old but any member may retire provided he/she has
completed at least five years of credited service with the Company and his/her early retirement is
approved by the Company. Vesting schedule of the retirement benefit is as follows:

Numbers of Years of Service Retirement Benefit Due

Below 5 0%

5 but less than 6 50%

6 but less than 7 60%

7 but less than 8 70%

8 but less than 9 80%

9 but less than 10 90%

10 but less than 11 100%

11 but less than 12 110%

12 but less than 13 120%

13 but less than 14 130%

14 but less than 15 140%

15 but less than 16 150%

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 16 but less than 17 160%

17 but less than 18 170%

18 but less than 19 180%

19 but less than 20 190%

20 and above 200%

Numbers of Years of Service Separation Benefit % of Accrued

Retirement Benefit Payable

Below 5 0%

5 but less than 6 50%

6 but less than 7 60%

7 but less than 8 70%

8 but less than 9 80%

9 but less than 10 90%

10 and above 100%

IX. FOOD BENEFITS

A. Rice Benefits

Your Company is one of the very few companies in the insurance industry that still provides
rice benefits to its rank and file employees.

B. Cafeteria Services

Your Company in effect subsidizes your meals taken at the Company cafeteria. The spaces
occupied by your cafeteria, as well as its facilities, are provided at no cost to the cafeteria
concessionaire to keep the prices at very reasonable levels.
th
The cafeteria is located at the 6 floor of the COCOLIFE Building. It serves breakfast and
afternoon snacks and hot meals during lunch break.

C. Christmas Package

Revised, January 19, 2016

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