GSIS declares P1.2-B dividends

The board of trustees of the Government Service Insurance System approved the distribution of P1.2 billion cash gifts/dividends to 1.5 million GSIS members and policyholders. These include all active members, the Judiciary, AFP members, as well as optional policyholders whose policies are in force for at least one year as of Dec. 31, 2002.

Winston F. Garcia, GSIS president and general manager, said that out of the P1.2 billion set aside for distribution, P960.4 million will go to the regular insurance policy holders, while dividends allocated for optional life policies is P238 million. Garcia pointed out that GSIS members would start receiving their dividend checks starting Dec. 1.

Among the terminated compulsory/optional life insurance coverage in 2001, only maturity cases shall be entitled to cash benefits/dividends proportionate to the length of time the insurance was in force for the said year.