I Have to Correct My Mistake: Prudentialife Plans Inc. is Different from Philippine Prudential Life Insurance Co. Inc.

May 7, 2009 · Filed Under Pre-need 

I’m very sorry I may have misled some of you when I answered some of your questions/comments in relation to “Prudential.”

My mistake was I thought the Prudentialife Plans Inc. which was suspended recently by SEC is the same Prudential which has been partnering with Danvil Plans since 2007.

Thanks so much to Rolly who made the correction. Based on Rolly’s info and on my quick online research, these are some info that would clear things up:

Philippine Prudential Life Insurance Co. is the company which bought the life insurance portfolio of Berkley/Danvil in 2007. This is also the issuer of life insurance plans and endowment plans being sold by Danvil Plans.

Philippine Prudential is a life insurance company supervised by the Insurance Commission. It is not a pre-need company.
web site: http://www.philprudentiallife.com/pplic/

On the other hand, Prudentialife Plans Inc. is a pre-need company supervised by the SEC.  This is the company whose license to sell was suspended by the SEC last April 2009.
web site: http://www.prudentialife.com/

The good news then to many of you whose plans were issued by  Philippine Prudential Life Insurance Co. ( sold through Danvil Plans) is that your plans are not affected by the  trust fund problems prevalent in the pre-need industry… because your plans are insurance plans issued by an insurance company, which has been operating since 1963, according to its web site.

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Comments

29 Responses to “I Have to Correct My Mistake: Prudentialife Plans Inc. is Different from Philippine Prudential Life Insurance Co. Inc.”

  1. Suzette on May 7th, 2009 2:03 pm

    Thanks for the wonderful insight. :)

  2. PH on February 20th, 2010 11:19 pm

    What about the SCAM???? Are you aware????? For me I think its TRUE!!! And it SUCKS alot! Anyway just an opinion.

  3. joel on March 5th, 2010 11:57 am

    my sister need to cancel the transaction with your good office bec. she doesnt even aware of what you are offering.besides there is no legal application done of her part.her name is Remecor R Tersol of longos central san fabian pangasinan. there are no legal basis for all your deduction on her salary.pls mam/sir we need the stopage letter from your office for us to submit in the regional office of deped.

  4. Nors on March 5th, 2010 6:29 pm

    Joel, hello. First, I’d like to clarify that this is not the site of Danvil or Prudential. But of course, I can share what I know. Is this a Prudential Plan or a Danvil Plan? If your sis has already decided to terminate her plan, advise your sister to write a pre-termination letter (pag more than one month na siya nababawasan), or write a cancellation letter (pag one payment pa lang ang nakuha.) Address your letter to Danvil or Prudentialife. In your letter, i-mention mo yong name of plan, the date taken, what branch, paano ka napabili and why you are now terminating or canceling. Iregister yong letter, or kung may makapagdala sa office in person, mas okay. Mamya, if I’ve time and I see a sample of a letter, I’ll give you the link. Kindly visit again and share your experience. You can help others. This is additional info.

  5. Prudentialife Plans -- Termination of Plans | Working Pinoy on March 5th, 2010 8:37 pm

    [...] again because this is often confused with a different company, Philippine Prudential Life Insurance Company (PPLIC), an insurance company headquartered in Pasig City and affiliated with Danvil Plans. [...]

  6. Wayne on May 20th, 2010 9:42 am

    i was woundering whats the contact # in Zambuanga ?..

  7. Victorino on June 9th, 2010 11:07 pm

    Just want some clarification about Philippine Prudential life insurance in SM Pampanga is it still existing? I was wondering it almost a year now that I am paying my insurance plus my wife for nearly 1 year now. I tried to contact the numbers they give me but no one is answering so I was worried probably I was a victim of scamm as well. would you mind to give me a feedback about this inquiry of mine.

  8. rob on June 9th, 2010 11:20 pm

    as far as i know yes sm pampanga branch is still open.

  9. Nors on June 10th, 2010 5:20 am

    Hello, Rob, thanks a lot for replying. Hello, Victorino, yes, PhilPrudentialife is still existing. It’s a life insurance firm with a license issued by the Insurance Commission. You can visit the IC website and check out the list. PhilPrudentialife is #21. Its headquarters are in Ortigas Center.
    Tel. No. (632) 638-8163; 631-2028; 634-5294; 635-5126; 636-3645
    E-mail: philprulife@philprudentiallife.co
    website: http://www.philprudentiallife.com
    SM Pampanga #: (632) 741-1002

  10. yaphi on July 2nd, 2010 6:43 pm

    it’s been a year that phil. prudential life insurance co. SM North, Manila is deducting monthly premiums in my credit card…just now i read some of the scams about prudential..is this true?? i’m trying to call the contact numbers stated on ther website but nobody’s answering..i’m wondering if they are still open? i sent one letter to one of their customer service for the clarification of why they deducted twice this month of june but untill now still no reply…im worried maybe i’m a victim too of scam…

  11. Nors on July 2nd, 2010 10:38 pm

    Hi, Yaphi, I’m not a PhilPrudentialife planholder, but this firm is a licensed insurance firm, accdg. to the Insurance Commission. In the IC report published this June, as of Dec. Philprudentialife, this firm ranks 28th in net worth among the 35 life insurance firms in the country. I think may mga scam na stories kasi doon sa marketing style nila na hindi maganda – sapilitan – preying on the vulnerabilities of people. On the other hand, may mga malalaking insurance firms na rin ngayon na gumagawa na ng aggressive marketing na di ginagawa dati, such as calling people on the phone and telling them to collect free insurance certificates from their offices. Baka yong two deductions mo this June ay May and June na, kasi may mga nagrereport dito na hindi sila na-charge last May.
    Anyway, investigate ka pa rin ha. Humble opinions ko lang ang mga ito.

  12. mhike on July 6th, 2010 12:56 pm

    ask ko lang po bakit napakalaki ng kinaltas nyo sa mga first timer makapag avail ng insurance nyo almost 14,010.00 and then andami nyo binigay na Offcial receipt hindi naman naka specefied yong mga halaga binayaran ko dito please paki klaro naman po ang lahat.

  13. mhike on July 7th, 2010 7:26 am

    pakisagot naman po pwede…?

  14. Nors on July 7th, 2010 9:28 am

    Hi, mhike, eto ang mga phone numbers ng PhilPrudentialife – 638-8163; 631-2028; 634-5294; 635-5126; 636-3645. Ang email nila ay philprulife@philprudentiallife.co . As you said, dapat andon sa receipts yong mga amounts na binayaran mo. At kung credit card payments ang mga eto, dapat exact amounts ang mag-apir sa card statements. Paki-share na lang dito kung anong nangyari para matulongan din natin yong iba na in the same situation as you are. Thanks.

  15. mhike on July 11th, 2010 8:21 am

    halos tatlong plan pala kinuha nila so pag kakaalam ko isang plan yong endowment plan….Pwede ko ba kunin olit pera ko 14,010.00 ipahinto ko na.. total sa NOV 1,2010 pa naman start ng kaltasan naman nila ako. so habang malayo pa naman ang NOV. stop ko na lang at kunin ko na lang PERA ko 14,010.00

  16. mhike on July 12th, 2010 9:42 am

    bakit po ganon Phil.Prudential Life na to 26 june 2010 lang ako naging member nila and then gusto ko na po ipacancelled sana agad kasi kailangan ko yong pera kinuha nila sakin almost 14,010.00 tsaka po natatakot din ako sa mga nabasa ko scam tulad dito sa nakita ko sa sight nyo…totoo po ba hind na nila mairefund yong pera ko kahit isang sentimo daw po kasi wala maibabalik sakin… actually ang sunod nila pagkuha sa BDO ng pera ko sa NOV 1, 2010 sana kaya habang malayo pa ang buwan ng NOV naisipan ko na ipacancelled sana?

  17. mhike on July 12th, 2010 9:51 am

    ano pwede ko gawin para maibalik yong pera kinuha nila sakin…. DAYS pa lang po kasi ako naging member nila kailangan na kailangan ko po talaga… ANG SABI NILA DON HINDI NA MAIREFUND YONG PERA KO KAHIT ISANG SENTIMO wala na daw po ako MAKUKUHA PA…BAKIT ganon halos dugo`t pawis ang pinuhunan ko sa pera kinuha nila sakin… hindi po biro ang 14,010.00 pera mawawala SAKIN PAKITULUNGAN NYO NAMAN PO AKO..!

  18. Nors on July 13th, 2010 9:52 pm

    Mhike, magsulat ka ng cancellation letter, kahit Tagalog. Isulat mo doon kung bakit nagka-cancel ka, at kung paano ka napapirma o nakuhanan ng pera. Maganda kung may kasama ka sa pagpunta roon para may suporta ka. Kung inaalala mo na hindi licensed ang PhilPrudential, licensed naman siya, ito lang marketing scheme nila ang may diperensiya. Sa ibang blogs, maraming nagkukuwento kung paano sila nag-cancel. I-google mo lang cancel Danvil plans or cancel PhilPrudential plans.

  19. jhig on July 13th, 2010 11:33 pm

    Planholder din ako I believe ok pa naman ang Danvil/prudential. Taktika nila na makumbinsi tao dun sila nabubuhay as company . Pero once na pumirma ka under ka na sa contract. Binasa mo sana yung contract plan bago ka pumirma. Pero andyan na yan i push mo na lang na kailangang kailangan mo pera mo alam mo sayang din yan . business is business dyan sila kumikita. Goodluck

  20. gin on July 16th, 2010 10:03 am

    hello po!planholder dn po ak ng danvil plans, tulad ng iba na force lng dn ak,50thou. ung unang bayad,monthly 8thoufrom my cridit crd.3 yrs.na akng naka2bayad,2022 pa ang maturity nya.my assurance po bana hnd masa2yang ang pnaghirapan ko.marami kac akng naba2sa sa blog about danvil.pls.i need your reply,asap.thank you

  21. gin on July 16th, 2010 10:31 am

    someone help me pls.nagu2luhan ak parang gus2 k ng ipahinto ung credit card ko,kaso nanghi2nayang nman ak.2 taon pa ang bu2nuin ko tpos 10 yrs. pa akng maghi2ntay.maupdate lng sana ak sa mga ngya2ri sa danvil.

  22. jhig on July 16th, 2010 12:38 pm

    binabasa ko rin mga comments nila dito nakukuha naman nila mga plan na nagmature na hopefully ok naman lagi kasi sa 2012 na maturity ko medyo malapit na at matagal na ako fully paid. Existing pa naman mga branches nila sana magtagal pa I think pag gumanda economy kay P-noy di na ako masyadong kakabahan dahil may effect din yon. Nasa iyo naman kung itutuloy mo pa kaso may bawas na pag kinuha mo. mahirap mag decide kasi malaking pera mawawala pag may nangyari kaso sayang din naman yung iba pang naihulog pag early termination. lakasan lang siguro ng loob. kasama na prayer.

  23. gin on July 16th, 2010 4:50 pm

    to jhigs,
    thank you ha,maghi2ntay na lng nga cguro ak,wala kac ak sa pnas kya nag-aala2 ak.bi2sitahin ko n lng lagi sa website ang current situation ng danvil para maupdate ak.worried lng tlga ak s mga nba2sa k sa scam.thanks

  24. Nors on July 19th, 2010 10:51 pm

    Hi, Gin, more than 330K na ang nabayaran mo. Ang laki na, at naka-3 years ka na. Nasa Insurance Commission na ang mga pre-need firms like Danvil. Hopefully, mas ma-supervise sila ngayon. As of now, wala pa naman tayong nababalitaan na hindi naibigay ang mga claims sa Danvil. Around 2008 yong mga naunang nabigyan ng claims. Last year and in the first months this year, a number of Working Pinoy visitors naman shared that they have received their maturity checks in full and on time.

  25. Rolly on July 22nd, 2010 6:30 pm

    Tama yun Gin.

    Gaya ko at nang marami pang nagbabasa nang site na ito, let’s keep our fingers crossed that we’ll be able to get our money’s worth in due time…..

    Prayers pa…..But so far so good pa naman ang mga feedbacks nang mga di nakalimot bumalik dito at nagsulat nang experience nila….

  26. gin on July 27th, 2010 8:50 am

    sorry ngaun lng ako nakareply,thank you and i’m really happy that i have found this site ngaun maka2hinga na ako. hnd ko alam na malaki pala ung plan ko kasi yong mga pinakita nlang account ng mga planholders tlagang nalula ako.half million plus ang gross contract price ko.after 2 yrs.waiting na lng nman ak, kya lng tlagang worried ak na bka mapunta sa wla.sana nman wag nlang sirain ang twala ng mga taong nagti2wala s kanila.to danvil,i’m always praying for them,getting strong and more blessings. ask ko lng,about my contract kasi sa berkley contract ak,ngaun danvil na,hnd nman na ak binigyan ng new contract,hnd kya magkaroon ng problema pagkakinuha ko ung maturity benefit ko.kng may spare time,paksagot nman ak pls.thank you and GOD bless you.

  27. Nors on July 27th, 2010 3:17 pm

    Hi Gin again. Oks lang na walang bagong contract kasi legal naman na binili ng Danvil yong Berkley — meaning ia-assume ng Danvil lahat ng bayarin ng Berkley. At saka, sa SEC list of licensed pre-need firms nakalagay na Danvil ay formerly Berkley International Plans. Hopefully, the financial industry recovers worldwide this year, kasi lahat naaapektuhan. Thanks too.

  28. mhike on September 1st, 2010 11:12 am

    hindi na po ba tlag maibabalik yong pera kinuha sakin almost 14k din kasi po yon eh. walang puso ang mga taong gumawa lalo na ang mga employee ng PHILIPPINE PRUDENTIAL LIFE iniisip nila pansarili nila makapambiktima lang ng mga tao?

  29. Nors on September 1st, 2010 12:05 pm

    Hi Mhike, ganon na nga kung hindi mo nakuha agad. Kasi kung matagal na, parang malabo na. Marami dito sa Internet ang mga nagkuwento kung paano nila nakuha uli yong pera nila. Search mo lang, para makakuha ka ng tip. Ako, opposed din ako sa ganong marketing style, pero sila ipinipilit nila na yon ang kanilang marketing strategy.

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