DANVIL PLANS

This page is for planholders of DANVIL PLANS.  You can see here articles about Danvil and comments by various Danvil planholders.

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For inquiries, you can call or email:

Eleazer L. Francisco
Customer Service Supervisor
Customer Relations Group
Danvil Plans, Inc.
02-755-1521 or 02-755-1591

mypolicy@danvil.com.ph
efrancisco@danvil.ph
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ARTICLES:

    Just like any planholder of a pre-need plan in the Philippines,  I’m anxious about my plan as a number of pre-need companies has failed over the past years.  I hope that Danvil survives and grows and maximizes its partnership with Philprudentialife so that people whose plans are still to mature in the next several years will get back all their investments and their promised earnings.

    My plan will mature this October 2010.  I got my plan in 2000 at the Family First branch at Festival Mall in Alabang.  Just like many of you,  I also felt deceived when I was pressured to buy a plan.  I was just giving in to my then seven-year-old daughter who was enticed with the stuffed toy game Family First marketers were showing to mall goers.

    During that time,  plan buyers could not cancel their plans within a few days of buying, unlike today when buyers could.  Despite misgivings and anger at myself for having been so easily enticed,  I continued paying.  In my third year of paying, my plan was even reinstated and re-dated — moved to a later date by 6 months — because I defaulted by 6 months.

    I finally completed my payments in 2005.

    In May 2008, just like you,  I received a notice instructing planholders about the planned purchase of Danvil Plans by Legacy Group.  I quickly researched about Legacy and saw unsavory write-ups about its head Celso de los Angeles.  I emailed Danvil about what I found out about Legacy and demanded that my money be returned instead of being moved to Legacy.

    I was invited to the Danvil office and was able to talk with Ms. Aurora Dino, the then AVP of Danvil and branch head of the Makati office.  We explained our sides,  and the day after,  I emailed back I was willing to defer my demand for my money.

    It was really fortunate for all of us that Danvil Plans listened to the advice of other parties, and did not push through with the takeover by Legacy, because just months later, in December 2008,  the  Legacy scam — perhaps the biggest in the Philippines — because it involved thousands of soldiers,  teachers,  OFWs, retirees, farmers,  other employees,  foreigners married to Filipinos,  even big-time investors and lawmakers — blew up, wiping out around 30 billion pesos of hard-earned money.

    Many things have happened since then,  including the closure of other pre-need firms, the failure to pay back investors and the continuing problems of CAP and Pacific Plans.

    As for Danvil Plans, it stopped selling pre-need educational plans in December 2007 and pre-need pension plans in December 2008.  What the firm is doing now, according to Danvil reps, is only servicing plans.

    But if you go to the malls, Danvil reps are still selling something —  insurance products issued by Philippine Prudential Life Insurance Corporation (PPLIC),  an insurance company different from the pre-need firm Prudential Life Plans whose license-to-sell was canceled in April 2009.

    It was PPLIC which bought the Danvil life insurance portfolio in 2007.

    The latest SEC list of pre-need firms with licenses to sell as of today was the May 2009 list.  It included Danvil Plans and 21 other pre-need companies.

    If you want to comment on this particular write-up, just please write your comments below any of the articles you click above.

    Just like any planholder of a pre-need plan in the Philippines,  I’m anxious about my plan as a number of pre-need companies has failed over the past years.  I hope that Danvil survives and grows and maximizes its partnership with Philprudentialife so that people whose plans are still to mature in the next several years will get back all their investments and their promised earnings.
    My plan will mature this October 2010.  I got my plan in 2000 at the Family First branch at Festival Mall in Alabang.  Just like many of you,  I also felt deceived when I was pressured to buy a plan.  I was just giving in to my then seven-year-old daughter who was enticed with the stuffed toy game Family First marketers were showing to mall goers.
    During that time,  plan buyers could not cancel their plans within a few days of buying, unlike today when buyers could.  Despite misgivings and anger at myself for having been so easily enticed,  I continued paying.  In my third year of paying, my plan was even reinstated and re-dated — moved to a later date by 6 months — because I defaulted by 6 months.
    I finally completed my payments in 2005.
    In May 2008, just like you,  I received a notice instructing planholders about the planned purchase of Danvil Plans by Legacy Group.  I quickly researched about Legacy and saw unsavory write-ups about its head Celso de los Angeles.  I emailed Danvil about what I found out about Legacy and demanded that my money be returned instead of being moved to Legacy.
    I was invited to the Danvil office and was able to talk with Ms. Aurora Dino, the then AVP of Danvil and branch head of the Makati office.  We explained our sides,  and the day after,  I emailed back I was willing to defer my demand for my money.
    It was really fortunate for all of us that Danvil Plans listened to the advice of other parties, and did not push through with the takeover by Legacy, because just months later, in December 2008,  the  Legacy scam — perhaps the biggest in the Philippines — because it involved thousands of soldiers,  teachers,  OFWs, retirees, farmers,  other employees,  foreigners married to Filipinos,  even big-time investors and lawmakers — blew up, wiping out around 30 billion pesos of hard-earned money.
    Many things have happened since then,  including the closure of other pre-need firms, the failure to pay back investors and the continuing problems of CAP and Pacific Plans.
    As for Danvil Plans, it stopped selling pre-need educational plans in December 2007 and pre-need pension plans in December 2008.  What the firm is doing now, according to Danvil reps, is only servicing plans.
    But if you go to the malls, Danvil reps are still selling something —  insurance products issued by Philippine Prudential Life Insurance Corporation (PPLIC),  an insurance company different from the pre-need firm Prudential Life Plans whose license-to-sell was canceled in April 2009.
    It was PPLIC which bought the Danvil life insurance portfolio in 2007.
    The latest SEC list of pre-need firms with licenses to sell as of today was the May 2009 list.  It included Danvil Plans and 21 other pre-need companies.