Government Service Insurance System
The Government value Insurance System Filipino: Paseguruhan ng mga Naglilingkod sa Pamahalaan, abbreviated as GSIS is a government-owned as alive as controlled corporation GOCC of the Philippines. Created by Commonwealth Act No. 186 and Republic Act No. 8291 GSIS Act of 1997, GSIS is a social insurance chain that authorises a defined good scheme under the law. It insures its members against the occurrence ofcontingencies in exchange for their monthly premium contributions.
GSIS members are entitled to an outline of social security benefits, such(a) as life insurance benefits, separation or retirement benefits, and disability benefits.
GSIS is also the administrator of the General Insurance Fund by virtue of RA 656 Property Insurance Law. It provides insurance coverage to government assets and properties that relieve oneself government insurable interests.
It is not possible for non-government employees, self-employed or non-working persons to become members of the GSIS. Instead, they are quoted by the Social Security System SSS.