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Pre-need Companies in the Philippines Now under Insurance Commission
Pre-need companies in the Philippines are now under the supervision of the Insurance Commission.
The pre-need law was passed in December 2009 and the implementing rules and regulations (IRR) were signed in March 2010.
Visit the website of the Insurance Commission at insurance.gov.ph, and you will see the pre-need code and the IRR already published on the site.
You will also see the list of the 23 pre-need firms under Directory of the IC home page. However, the list on the IC was still the list previously prepared by the SEC.
The list includes the 23 pre-need firms that were licensed to sell pre-need plans as of December 2009:
- Abundance Providers and Entrepreneurs Corporation (APEC) (formerly Pacific Plans)
- AMA Plans
- Ayala Plans
- Caritas Financial Plans
- CityPlans
- Cocoplans
- Danvil Plans (formerly Berkley International Plans)
- Destiny Financial Plans
- Eternal Plans
- First Country Plans
- First Union Plans
- Grayline Plans
- Himlayang Pilipino Plans
- Loyola Plans Consolidated
- Manulife Financial Plans
- Mercantile Careplans
- Paz Memorial Services
- Philplans First (formerly Philam Plans)
- Provident International Plans
- St. Peter Life Plan
- Sun Life Financial Plans
- Transnational Plans
- Trusteeship Plans
The only two changes from the May 2009 list are:
- the addition of APEC to the list
- change of name of Philam Plans to Philplans
For those who have complaints, inquiries or claims, you can address them to:
Public Assistance & Information Division
523-8461 to 70 local 102, 103, 105
pubassist@insurance.gov.ph
Two Planholders of Danvil Plans Who Have Already Collected Their Maturity Benefits
These are comments from two planholders of Danvil Plans who have already filed their claims, got their checks and have encashed them.
From planholder Hill:
February 16
Planholder din ako ng Danvil Plans and in fact magma-mature na ang plan ko this March 2009. One last payment na lang sa March 1 ang kulang.
February 21
Originally, 5 years to pay and 10 years after ang maturity yung plan ko pero I had it changed to 10 years to pay. Kaya, March 1, 2009 ang last payment at sa March 25, 2009 naman yung maturity date nung plan ko. Kaya nga inaayos ko na ang mga requirements.
