GENERAL
MECHANICS
1. Terms
and Conditions
1.1 Duly-licensed UCPB GEN business partners are entitled
to the national incentives redemption program.
1.2 Business partners will be entitled to accumulate
‘stars’ based on the following criteria (Strictly no round-offs):
1.2.1
Guidelines
ELEVATION
|
REQUIREMENT
|
EQUIVALENT STARS
|
1 – Compliance
|
GPW of at least
PH P180,000
|
one (1) star (★)
for every GPW equal to PH P10,000.00
|
additional
Stars earned
|
||
2 – Growth*
|
at least 20%
growth
|
premium growth
x
E1 stars (★)
|
3 – Profit
|
favorable loss
ratio not more than 40%
|
gets the same number of stars (★) as E1
|
*premium
growth of over 100% is considered 100%
1.2.1
Only policies issued for direct business are considered
in the promo.
1.2.2 Policies must be paid within credit term but not later
than January 31, 2015 (January 31, 2016 and January 31, 2017 for the second and
third year, respectively). Strictly no credit extensions will be accommodated.
1.2.3 Stars can be accumulated up to three (3) years and may
be redeemed starting March of the succeeding year. Unredeemed stars will
continue to accumulate for redemption until the end of the third year.
1.2.4 Business partners who opt to redeem until the third
year must have an aggregate paid premium production of at least PH P600,000 and
must be uniquely compliant each year.
1.2.5
Agents with paid premium production of more than PH P20
million at the end of the first year will be automatically be considered to
another promo.
1.2.6 In case of policy cancellation, all stars earned from a
particular policy will automatically be reversed. Only partial payments within
credit term will be included in the accumulation of stars.
1.2.7 Entitlement to accumulated stars is good only for
redeemable items declared in the rewards booklet and are non-transferable and
non-convertible to cash.
1.3 Only licensed agents and brokers in good credit
standing with the company will be allowed to redeem a reward.
2
The UCPB GEN rewards booklet will be the basis for
reward redemption.
2.2
Rewards contained in the booklet may be redeemed from
UCPB GEN starting March of the succeeding year provided they are able to meet
the specified stars requirement given their premium production.
2.3 The time of availability for the chosen reward item is
subject to the lead time of order and delivery from the respective supplier/s.
2.4 UCPB GEN will provide an item of similar value and
functionality, in case the chosen reward is no longer available in the market.
2.5
For local and international trips:
2.5.1 Qualified business partners must notify UCPB GEN of
their intent to avail of a travel incentive strictly six (6) months prior to
the travel period. UCPB GEN needs time to process and prepare all travel
arrangements to ensure a well-planned and safe trip.
2.5.2 Prior to the business partners’ notification to UCPB
GEN of their intent to avail to the travel incentive, s/he should already have
enough production stars earned corresponding to the reward.
2.5.3 In case business partners fall short of production
stars required for the trip and have already expressed their intent to avail
the travel incentive, s/he shall be liable of any fees and additional charges resulting
from rebooking and cancellation, among others.
2.5.4 In the event that a business partner has chosen to
redeem travel incentive which have already been scheduled, reserved and confirmed
and then cancelled by the business partner for whatever reason/s, then the
equivalent number of stars of the corresponding reservation charges and/or down
payment and related expenses that could no longer be refunded will be deducted
from the accumulated stars earned by the business partner and will be considered
as having been redeemed.
2.6
For the Dream Elevation:
2.6.1 Business partners must notify UCPB GEN should they
choose to avail their ‘Dream Elevation’.
2.6.2 To qualify for the Dream Elevation, business partners
should have accumulated at least 7,500 stars by the end of the third year.
2.6.3 Subject to the special terms and conditions of this
reward, UCPB GEN will help its business partners achieve this ‘Dream Elevation’.
2.7
For defective and/or damaged items (for details not attributed
to recipients’ fault):
2.7.1 Business partners may request for a replacement of the
same item within two (2) working days from the date of receipt.
2.7.2 The said items must be surrendered and placed inside
their respective packaging complete with the instruction manual/s and warranty
certificate/s not later than two (2) working days from the time UCPB GEN was
informed of the intention to have the item replaced. Replacement units are
subject to the lead time of respective suppliers.
2.7.3 Defects and/or damages after the prescribed period are,
nevertheless, still covered by the warranty in accordance with the conditions
indicated in the warranty certificate.
2.8 Rewards shown in the promo booklet are indicative of
the item/s that may be exchanged for stars.
2.9 Photos of rewards shown in the booklet only serve as an
indication of the prize equivalents for the stars indicated. UCPB GEN shall endeavor
to secure and provide the prize item based on specifications indicated, subject
to supply availability. Should supplier certify unavailability, a similarly-priced
model with approximately the same features shall serve as replacement.
2.10
Redemption forms shall be available in all UCPB GEN
branch offices nationwide.
2.11 Redeemed stars will be deducted from the accumulated
stars. After the specified redemption period, all unredeemed stars shall be
carried over to the next redemption period.
2.12 UCPB GEN Marketing Support Services will inform
business partners via email, SMS and/or telephone, concerning the redemption arrangements
for the selected prize.
2.13
Valid redemption forms received via mail, e-mail and
fax is considered final.
2.14 Unclaimed rewards after the redemption period specified
by UCPB GEN shall be forfeited.
3
Announcement of Qualifiers and/or Production Status
Updates
3.2 UCPB GEN reserves the right to determine the qualified
business partners to the incentives redemption program. Qualification per
reward will be finalized upon receipt of premium collection.
3.3 Quarterly status updates will be available. Agents can
monitor their production from UCPB GEN Marketing Support Services.
4
Limitations
4.2 All reward items (where applicable) are covered by the
warranty certificates issued by their respective manufacturers.
4.3 Batteries are not included in battery-operated items
and installation and/or servicing of items are not included, unless otherwise
stated.
4.4 This promo shall not be applied in conjunction with any
other existing promotions.
4.5 The company reserves the right to discontinue the incentives
redemption program, at any time, with proper notice to those who may be
affected by such termination. Ample time will be given to all concerned to
claim their reward prizes, accordingly.
4.6
UCPB GEN also has the right to revise the rewards booklet
or any part of it.
4.7 Any dispute regarding reward points or incentives will
be decided by the Management Committee thru Marketing Support Services
Department and/or Marketing Communications Department.
