Pre-need Companies in the Philippines Now under Insurance Commission

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  1. Hi Nora. I am a victim of APEC Plan’s rehabilitation exercise. My first question is how can the court allowed this? Favoring the rich and mighty and leaving the victims with their hard earned money lost just like a day-light robbery? I took an educational plan from Pacific Plans (now Apec Plans) almost 20 years ago. It matured in January 2014, before they went to the court in Aug or Sept 2014. The benefit is P100k per semester with 30% yearly increase up to the 4th year. Plus, starter allowance equivalent to the preneed value of P300k++. Approximately a total of P1.3M of benefit. Apec only offers a settlement of P98k!!! What an utter contempt! Can I have your advise how best to proceed? I am living outside the Phil, do u know if this court decision is appealed. Also, do u know if there are people pursuing legal action? Thanks for your advise.

  2. Hi Luz, yes, these pre-need failures are really frustrating and make us angry. And to think that Pacific Plans was founded by the owners of RCBC. Sorry I’m not so updated about Pacific Plans, but I’ll email you copies of info that I’ve read.

  3. Ano na po kaya status ng The Professional Group? May PhP 100,000 benefit po ako na hanggang ngayon di ko makuha dahil may kaso daw po sila.

  4. Hello po, we purchased preneed plan at Philam. I am inquiring if the company still exist and in good standing. Also, we filed claim for Danvil Plans, we do not have the 5 pages contrAct provision but we have the certificate of full payment. Will this be an issue?

    Thank you for your help.

  5. Hi Jovita, yes, Philam still exists, and it’s one of the biggest and most stable insurance companies. Pero i-check mo ang plan mo kung Philam Life or Philam Plans. Kasi kung Philam Plans, nag-iba na ang name niya. PhilPlans First na. Hotline No.: 802-7202. Andiyan pa yong Philam Life, pero ibenenta niya ang Philam Plans sa owners ng STI, hospitals and other businesses.
    About Danvil, it’s good that you have the cert of full payment. If you lost the plan documents, you need to submit an Affidavit of Loss

  6. dear Nora:
    any good news about APEC clients with regards to PEPSTAR (Pacific Educ’l. Plan). Because i am also a victim of this scheme. My pre-need price is PhP42,300 and maturity date was January 2012. And just like Luz, we live abroad and the “scholar” (my daughter) is finishing her third year college here in europe.
    could you kindly give me an update if APEC is offering their clients a decent amount of settlement to finish this dispute?
    thanks very much and looking forward for your favorable response on this.

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