Application for Cash Surrender Value of Policy (CSV)
Cash Surrender Value (CSV) is the policy reserve earned by the policy at the end of each anniversary year. After the insurance have been in force for one (1) year, it begins to earn cash value which increases annually, but which never exceeds the face value of the policy. The CSV of the policy less any indebtedness and surrender charge is the amount which the GSIS will pay to any policyholder in the event that he surrenders the policy.
Classification: Complex
Type of Transaction: G2C – Government to Clients
Who may avail: Employee
REQUIREMENTS
| Requirement Name | Where to Secure |
| Application for Life Insurance Benefits (Form No. 03102014-ALIB) | Lino P. Aquino |
PROCESS
| Client Step | Agency Action | Fees | Processing Time | Person Responsible |
| 1. Submit accomplished documents | 1.1 Receive accomplished Application for Life Insurance Benefits (Form No. 03102014-ALIB) 1.2 Encodes and prints an electronic copy of the form 1.3 Provides additional instructions/advice | ₱0.00 | 1 working day | Lino P. Aquino Administrative Officer IV or Camille Rose DG. Alfonso Administrative Officer IV HRDO |
| 2. Receive document/advice | 2. Prepares documents for submission to GSIS upon regular helpdesk visit | 1 working day |
