Benefits of National Artist Awardee 1. The rank and title of National Artist, as proclaimed by the President of the Philippine. 2. The National Artist gold-plated medallion minted by the Bangko Sentral ng Pilipinas (BSP) and citation. 3. Lifetime emolument and material and physical benefits comparable in value to those received by the highest officers of the land such as: 3.1 A minimum cash award of Two Hundred Thousand Pesos (P200,000.00), net of taxes for living awardees and a minimum cash award of One Hundred Fifty Thousand Pesos (P150,000.00), net of taxes for posthumous awardees, payable to legal heir/s; 3.2 A minimum lifetime personal monthly stipend of Thirty Thousand Pesos (P30,000.00) 3.3 Life insurance coverage for Awardees who are still insurable. 3.4 A State Funeral benefit not exceeding P500, 000.00. 4. A place of honor, in line with protocolar precedence, in state functions, national commemoration ceremonies, and all other cultural presentations. Benefits of National Living Treasure 1. A Manlilikha ng Bayan awardee receives a specially designed gold medallion, an initial grant of P100, 000 and P10, 000 monthly stipends for life. 2. In consonance with the provision of Republic Act No. 7355, which states that "the monetary grant may be increased whenever circumstances so warrant," the NCCA board approved an additional monthly personal allowance of P14, 000 for the awardees as well as a maximum cumulative amount of P750, 000 medical and hospitalization benefits annually similar to that received by the National Artists and funeral assistance/tribute fit for a National