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Prudentialife Plans – Termination of Plan
This is for those asking about Prudentialife Plans, the diversified pre-need firm with main address at Prudentialife Bldg., 118 Gamboa St., Legazpi Village, Makati City.
Check 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. Prudentialife and Prudential Life are not affiliated with each other.
If you have decided to terminate your Prudentialife plans, these are the documents you need to bring to Prudentialife to apply for termination:
- Plan or policy contract (Original)
- Certificate of Full Payment (Original)
- At least two valid IDs (Photocopies signed three times)
- Benefits Settlement Application Form (3 copies)
- Processing fee of 300 pesos (to be deducted from the proceeds of the plan)
You can view or download a copy of the Benefits Settlement Application Form here.
If you like to view or download copies of a special power of attorney or affidavits, go here.
Always remember though that if you terminate your plan, you won’t get back all the money you paid. You’ll only get a small portion. The percentages are written in your plan.
But as others say, mas mabuti nang merong konti kesa wala.
I don’t have a Prudentialife plan. What I have is a Danvil plan. There was one time I also considered termination because of the pre-need crisis, but I decided to wait.
Nevertheless, we have to decide for ourselves. We gather information and then decide. Whatever happens, we have ourselves to blame or congratulate.
Main Address:
Website: www.prudentialife.com
For addresses of Prudentialife branches, go here.
So Sad About Permaplans or Permanent Plans
I’m not a Permaplans planholder, but I’m so sad about what’s happening with Permaplans or Permanent Plans, especially with the pre-need firm’s interaction with the SEC.
Again, it’s the planholders who are suffering.
Back in April, Permaplans’ president Juan Miguel Vazquez said his firm isn’t considering going to court for rehabilitation because court rehab takes time and delays payments to planholders.
But now the firm has filed for rehab, which according to Justice Secretary Raul Gonzalez is not the best option for planholders. He mentioned this while commenting on the Legacy case.
