Danvil Plans, Other Pre-Need Firms: Updates

Just like you, I got so bothered when I read on Inquirer.net that 4 pre-need firms are about to collapse. Philip Piccio, president of PEP Coalition, named one of the four as Pryce and then challenged the SEC to name the 3 other firms. One top SEC executive denied there are 3 other failing firms, but the other one confirmed it.

And this after the collapse of 3 Legacy pre-need firms, and long before them, the collapse of CAP and Pacific Plans. Although Pacific seems to be okay now, since Noel Oñate’s Abundance Providers Investments Corp., the new owner of Pacific, promised to buy back Pacific plans at 15% yearly interest. Piccio and his group, however, plan to pursue their case against the original owner of Pacific.

These are some info that I gathered as of today, February 14:

1. On SEC website, Danvil Plans is one of the 24 pre-need corporations with 2009 dealer’s license. Compared to the list of September 2008, the pre-need firms removed were:
Ideal Pension
Legacy
Pacific Plans

There is one new firm on the list: AMA Plans.
On another page there are three other firms with 2009 dealer’s license:
IMG Insurance Brokers
Prudentialife Market Resources, both linked to Prudentialife and
Jardine Lloyd Thomson Insurance Brokers, linked to Philam Plans

2. Philip Piccio, president of the Parents-Enabling Parents Coalition (PEP) who is campaigning for
Pacific Plans open-ended educational planholders, was generous enough to reply to my text about Danvil. He texted back that Danvil Plans is not one of the 4 pre-need firms about to collapse.

3. Jack of Danvil Plans in Makati said that Danvil is very stable. Jack was the one who answered me on the phone when I called the Danvil office in Makati on February 13. I asked him if he knows about the 4 pre-need firms being mentioned about to collapse, and he said that he doesn’t know. He said that what he knows is that Danvil is stable and that it has been paying claims as of date. I asked him why Danvil is not updating its web site, and he said that he will relay my concern to management.

4. According to a list provided by Salve Duplito on her article on Inquirer.net Money Smarts, Danvil Plans is one of the 19 pre-need firms who have signed a document expressing their willingness to increase their capital in 2009 to cope with anticipated difficulties due to low investment rates in the financial markets.  The bigger pre-need firms are on the list.

5. My conclusion is that the 4 pre-need firms being reported about to collapse includes Ideal Pension because I read one planholder complaining that Ideal Plan has not given him the proceeds of his plan which has matured in 2008. The other one would be Pryce Plans, which most everybody knows by now has already collapsed way back in 2007. But in fairness to Pryce, it’s doing its  best to give something to its planholders. My friend who is a Pryce planholder is getting some benefits through Pryce’s other companies, such as hotel stays, etc. She has also received some amounts of money for tuition.

As for the other two pre-need firms, I’m still checking. I’ll update this article again today after I get home from church. Happy Valentine’s Day to all Danvil planholders.

Pre-Need Corporations With 2009 Dealer’s License as of January 28, 2009

1  AMA Plans Inc.   (pension)
2  Ayala Plans Inc.  (education, pension)
3  Caritas Financial Plans Inc.  (pension)
4  CityPlans Inc.  (pension)
5  Cocoplans Inc.  (education, life, pension)
6  Danvil Plans Inc.  (formerly Berkley International Plans, educational, pension)
7  Destiny Financial Plans Inc.  (pension)
8  Eternal Plans Inc.  (education, life, pension)
9  First Country Plans Inc.  (pension)
10  First Union Plans Inc. (pension)
11  Grayline Plans Inc. (pension)
12  Himlayang Pilipino Plans Inc. (education, life, pension)
13 Loyola Plans Consolidated (education, life, pension)
14  Manulife Financial Plans  (educ pension)
15  Mercantile Careplans  (educ life pension)
16  Paz Memorial Services (life)
17  Permanent Plans  (life, pension)
18  Philam Plans  (educational, life, pension)
19  Provident International Plans  (life, pension)
20  Prudentialife Plans  (educational, life, pension)
21  St. Peter Life Plan  (life)
22  Sun Life Financial Plans   (educational, pension)
23  Transnational Plans   (educational, pension)
24  Trusteeship Plans  (educational, life, pension)

Additional List of Pre-Need Firms With 2009 Dealer’s License as of January 28, 2009
IMG Insurance Brokers Corp.
Prudentialife Plans Inc.
Jardine Lloyd Thomson Insurance Brokers Inc.
Philam Plans Inc.
Prudentialife Market Resources Corp.
Prudentialife Plans Inc.

Removed from the Licensed Dealer List of January 2009

Ideal Pension Plans
Legacy Consolidated Plans
Pacific Plans

Listed in the February 2007 list, but no longer licensed since 2008
Classic Plans
Eduplan Phils
Millennium Plans
Primanila Plans
PrimePlan
sources:

SEC List of Pre-Need Firms With 2009 Dealer’s License

Article by Salve Duplito on Inquirer Money Smarts

81 Comments

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  1. Doc tamayo i mean.also for the info of everybody with danvil plans,iba po yung plans natin sa danvil.tawag po dun family provider.nasa conservator npo danvil,meaning under insurance commission radar na sila.di na po cla nagbebenta ng plan.hinihintay lng nila magmature mga plans but thats the risk we have to take kc di natin alam kung andyan pa sila sa maturity ng plans natin.like me,2020 pa po maturity.pag kinuha ko pera ko before 2020 half lng po makukuha ko whereas kung wait ko,makuha ko ng buo plus dividends.yung sa pplic po ang tawag nung plan natin protector.ang pplic po hindi po under conservatorship.ongoing prn business nila.

  2. At charo:if u can please find out kung me fb page or common e mail si doc tamayo rather than us sending email to each other para open communication tyo.mahirap kc most of us nasa abroad.also,i guess madami kumuha sa 30%goodwill offering kaya yyng katulad natin na hindi pumatol eh konto na lang.FYI too,ang 30% is only based on what u have paid from 2010 to march 2013 ONLY.

  3. CGE PO MAM GRACE MAKI JOIN NLNG MUNA TAYO SA KANILA SA FB WAT BA GROUP NILA AT MAS MAGANDA ATA PAG MARAMI TAYO MAGREKLAMO DOON

  4. MAM CHATO DITO MO NALANG IBIGAY ANG CONTACT NUMBER MO KAYSA PUNTA PA AKO SA EMAIL KO NASA ABROAD KA BA SINO MGA DAPAT ANG MAG ASIKASO DOON UNG MR MO O YUNG MGA KAPATID MO O MGA KAMAG ANAK

  5. I agree with grace. Mas mabuti kung makaka join tyo dun sa fb group kung meron man. Halos mgkasabay lng ung maturiry ng plans natin sa danvil. Sana nmn di hayaan ng insurance commission na tuluyang ma bankrupt danvil at mkuha ntin khit buo nung binayad ntin. Hopefully din ung sa pplic. Sana lng may gawin ung concerned authority to give justice sa case natin

  6. Maricel dont get your hopes too high about capabilities of insurance commission.but at least we tried sabi nga.i am not as bitter to my plans in danvil kc alam ntin eversince if we get our money before maturity talagang 50% lng mkukuha ntin.etong sa agreement ng pplic at danvil ako nagagalit ng husto dahil hindi pinaalam sa ating mga planholders.and me kapal sila ng mukha to offer us 30% para kumalma tayo.

  7. Hi guys,

    Yung may Danvil Plans pa, don’t worry babayaran ng Conservator ang maturity benefits in a spread of about 5 years (pls. readu below my previous update last March 2013):
    I went to Danvil’s new Alabang office last March 2013 and you’re right,Danvil will not pay fully the policy value upon maturity (processing time is I think 1 month after submission of all claim documents). They will only pay 50% upon maturity & the remaining will be paid in equal spread once a year for 5 years. If you’ve lost the original copy of your insurance policy, u can just submit an affidavit of lost.

    Danvil is now under the radar of the insurance commission

    AS FOR THE PPLIC PROTECTOR NCB ISSUE, I THINK IT WOULD BE BEST TO JUST JOIN A GROUP WHICH WAS ALREADY FORMED (DOC TAMAYO’S GROOUP?) TO COLLECTIVELY FIGHT PPLIC IN COURT, LIKE A “CLASS SUIT” ACTION.
    JUST LIKE MANY OF THE PROTECTOR POLICY HOLDERS, I’M ALSO WORKING OVERSEAS AT THE MOMENT & DON’T HAVE MUCH TIME TO DEVOTE ON THIS ISSUE. WHEN I CAME BACK TO MANILA LAST AUG.2013, I WAS ABLE TO SUBMIT SOME FORMAL COMPLAINTS WITH THE INSURANCE COMMISSION.

  8. SIR ROLAND WE CAN JOIN NALANG TO DOC TAMAYO’S GROUP PARA MARAMI TAYO CAN YOU GIVE ME HIS CONTACT NUMBER IF YOU HAVE AND CAN I TAKE YOUR NUMBER ALSO….THANKS

  9. Sorry Eric..I don’t have any info yet on Doc Tamayo’s FB group…and I’m overseas at the moment.You can e-mail me at rolnico@yahoo.com should you need more info about Danvil & Protector Plan NCB.

  10. Lahat ng nagclaclaim ngayon nakasuspend ang payment… sabi ng insurance commission one month lang pero umabot ng ng more than 2 months hanggang ngayon nd pa rin binibigay ang claim ko …

  11. GANOON BA SIR LIBAY, NAHIRAPAN NA NGA TAYONG MAG CLAIM TAPOS GANOON PA ANG GINAGAWA SA ATIN DI NA MAKATAO ITONG GINAWA NILA KAILANGAN NG KAMAY NA BAKAL ANG GAWIN NATIN DITO DI NALANG NILA SABIHIN DERECHO NA WALA NA TAYONG MAKUHA PARA ALAM NA NATIN…

  12. Sir Libay, anong claim pi ung tinutukoy nyo? Un po bang goodwill offering nila? Hirap n hirap po ako magfile ng claim kc nsa abroad ako nkkhinayang ns wala man mpabalik dun sa naihulog kong 100k+. Nag email ako sa kanila pero d ngrereply.

  13. Hi Nors, Baka umuwi ako ng July, 2013 upang kunin ang certificate of contribution ko sa Danvil. Gusto ko lang malaman kung nageexist pa ang opisina nila sa Alabang? Worry na rin ako dahil katatapos ko lang mabayaran ang plan contributions ko last January 2012. Di ako nakauwi last year kaya di ko naayos. Thanks God bless.

  14. —–Original Message—–
    From: Customer Service – FFI [mailto:mypolicy@danvil.com.ph]
    Sent: Thursday, January 16, 2014 10:14 AM
    To: De Villa, Liberty
    Subject: RE: FPN207729

    Dear Ms. De Villa,

    Thank you for your e-mail.

    We have just made a follow up with them and as per them, it is still under study.

    Please feel free to e-mail us at mypolicy@danvil.com.ph should you have concerns.

    Best regards,

    Eleazer Francisco
    Customer Service Asst. Manager
    Customer Relation Group
    Danvil Plans, Inc.

    —–Original Message—–
    From: Customer Service – FFI [mailto:mypolicy@danvil.com.ph]
    Sent: Wednesday, November 27, 2013 6:22 PM
    To: De Villa, Liberty
    Subject: RE: FPN207729

    Dear Ms. De Villa,

    Thank you for your e-mail.

    We apologize Ma’am, but Insurance Commisssion is still conducting an audit.

    Please feel free to e-mail us at mypolicy@danvil.com.ph should you have concerns.

    Best regards,

    Eleazer Francisco
    Customer Service Asst. Manager
    Customer Relation Group
    Danvil Plans, Inc.

  15. Hindi po ito yung goodwill… ito po yung future provider plan …. na nasa IC pa rin kinocompute nila daw kung magkano daw pa yung pwedeng makuha pa ng mga members…. nanganganib na rin …. hindi ko alam kung may maclaclaim pa tayo. 4 months na akong nangungulit.

  16. Hi Libay, nag-mature na yong Future Provider Plan mo? Do you mean hindi na nila ino-offer yong 50% payout, and then the other 50% paid over 5 years?

  17. Opo nagnamtured na po last oct pa po… inioffer pa rin po yung 50% + 50% kaso 50% na nga lang hindi pa makuha…. sagot ng IC hindi lang daw kasi danvil ang hawak nila kaya hindi nila alam kung kelan sila matatapos magcompute…. katwiran ba yun?!! grabe!

  18. Hi Libay, nag-change na pala uli ang claiming process sa Danvil? Kasi previously, sa Danvil office mismo sa Alabang pina-process ang claim. Hindi na pala ngayon sa Alabang office, kundi sa IC na sa UN Manila?

  19. Wala silang advise samin ..na sa UN na ang claim eto lang sagot sakin ng danvil last march 5 —–Original Message—–

    From: Customer Service – FFI [mailto:mypolicy@danvil.com.ph]
    Sent: Wednesday, March 05, 2014 9:41 AM
    To: De Villa, Liberty
    Subject: RE: Danvil Policy

    Dear Ms. De Villa,

    Thank you for your e-mail.

    I’m sorry Ma’am, but checks are still not yet available. There’s no improvement with the audit of Insurance Commission.

    Please feel free to e-mail us at mypolicy@danvil.com.ph should you have concerns.

    Best regards,

    Eleazer Francisco
    Customer Service Department
    Customer Relation Group
    Danvil Plans, Inc.

  20. Hi Libay, thank you very much for sharing info. So this means that the IC is now controlling Danvil’s releases. Maybe after a month, email again IC about your check.

  21. Naku pano na lng ung plan ko na about 7 years pa mgmature? Kung i terminate kya mbilis mkukuha ung surrender value? Wala lhat nangyari sa plans ko pati yung sa PPLIC

  22. san po b maaaring matagpuan ang primanila plan inc,7 years n daw silang wala sa bldg ng AXA, at paano po namin maclaim ung 100+ na nhuhulog n po nmin, matured n po ngaung 2014, sana nman po matulungan nyo kmi.

  23. My policy is fully paid 5 years ago, and my maturity claims will be on november 2015. What is the best option will I do, pre-terminate my policy or just wait my maturity claims next year of november 2015. my worry is that, is this Danvil will still exists or they can pay my maturity in full?

  24. Hi Arman, just like you, I also don’t know what to advise because I can’t predict what will happen ultimately to Danvil funds. Read comments online, like comments on Danvil accounts on Facebook and decide.

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