On Mar. 31, PHI INS issued circular re pre-need companies' statement.
PHI INS issued circular providing guide re electronic submission of annual statements (AS), audited financial statements (AFS), and attachments for pre-need companies.
Document dated Mar. 31, 2025, received from PHI INS Apr. 1, summarized on Apr. 4.
Outline of Circular
All submissions must be made exclusively through the online uploading portal; documents must be arranged numerically in sub-folders according to item numbers.
Namely, as per Annex B; submissions with non-conforming formats, lacking details, or incomplete attachments will not be accepted, PHP 500 penalty per omitted material.
Only AFS with unqualified or qualified opinion will be accepted; qualified opinions require management letter explaining issues, justification, and proposed actions.
Effectiveness
Submission deadline is Apr. 30 until 11:59 PM, with penalties for late submissions.
The circular takes effect immediately as of Mar. 31, 2025.
