• Money claims arising from employer-employee relations shall be filed within three (3) years from the time of entitlement

• Money claims consequent to an illegal dismissal such as backwages shall be filed within four (4) years

• An employee who clearly abandoned his employment is not entitled to backwages

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• A trust fund must be established separately for each type of pre-need plan with the trust department of a trust company, bank or investment house doing business in the Philippines

• The trust agreement shall be submitted to the Insurance Commission for approval before execution

• The trustee shall have the exclusive management and control over the funds

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• Trust fund refers to a fund set up from the planholders’ payments to pay for the cost of benefits and services

• The pre-need company shall make monthly deposits to the trust fund

• The trust fund shall at all times be sufficient to cover the required pre-need reserve

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• No pre-need company shall refuse, without just cause to pay or settle claims arising under coverages provided by its plans

• In case of scheduled benefit plans, the

• proceeds of the plan shall be paid immediately upon maturity of the contract

• The planholder may institute necessary legal action in court to recover his or her investment in the pre-need company

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