Updated January 16, 2018:
The Philippine Prudential Life Insurance Company (PPLIC) was placed by the Insurance Commission under CONSERVATORSHIP on November 4, 2016.
PPLIC is no longer allowed to sell new insurance products pending compliance with regulatory requirements effective November 4, 2016.
Atty. Moises A. Balon has been appointed as Philippine Prudential’s conservator.
PPLIC policy holders can file their claims with the conservator together with all supporting documents detailing the nature of their claims, basis and amount of each and every claim, either personally or by mail.
Address of Atty. Balon:
Suites 305-309 3rd Floor
AIC Burgundy Tower
ADB Avenue corner Sapphire and Garnet Roads
Ortigas Center, Pasig City
Here’s a list of troubled insurance companies as of Nov 2016.
These notes below were written in 2010
Since Philippine Prudential Life Insurance Company is associated with Danvil Plans, we’re going to write some information about this company. A lot of info here were taken from the website of the Insurance Commission.
Philippine Prudential is an insurance company; it is not a pre-need firm.
It is different from pre-need firm Prudential Life Plans Inc. whose license was revoked by the SEC in 2009. These two firms are not affiliated with each other.
Philippine Prudential is one of 35 life insurance firms whose licenses have been renewed by the Insurance Commission every year for the past years. Their newest licenses are for the license year 2009 to 2010.
Of the 35 life insurance firms, Philippine Prudential is:
- 17th in ranking based on premium income as of December 31, 2009
- 17th in ranking based on first-year premium as of December 31, 2009
- 22nd in ranking based on paid-up capital as of December 31, 2009
As can be seen on both the websites of Philippine Prudential and Danvil Plans and in SM malls, the two firms use the same sales offices in SM Pampanga, SM Fairview, SM North Edsa, SM Megamall and SM Southmall.