The PHILIPPINE LIFE INSURANCE LAW is primarily based on Presidential Decree No. 612, otherwise known as the Insurance Code of the Philippines, which was extensively amended by Republic Act No. 10607, approved on August 15, 2013 that took effect on September 20, 2013. It includes universally accepted life insurance principles, applicable persuasive court life insurance decided cases of the Philippines, United States and England; and good customs of the insurance industry. Carefully selected reference materials were presented, now deemed necessary and extremely useful to the reader.