Danvil Plans, Other Pre-Need Firms: Updates

If you are a Danvil Plans planholder and you have not yet read anything about what happened to Danvil, go to this post immediately: Danvil Plans Notices

 

Update August 30, 2019

Announcement for Planholders of LEGACY CONSOLIDATED PLANS INC. (LCPI)The Securities and Exchange Commission (SEC) Liquidator for Legacy Consolidated will be distributing the 3rd tranche to legitimate claimants of Legacy’s education, pension, and life plans.

You must call or text first to know your SCHEDULE OF PAYMENT. Do not go to their office if it is not your schedule.

Phone nos.:  (02) 719 0029 or (02) 576 3657
Cellphone Nos. : 09568666474 / 09206895463
Email Addresses : mcjbaservices@gmail.com
mcjbaccountingservices@yahoo.com.ph

Where to go on the date and time of your schedule:
Unit 701 Pioneer Highlands North Condominium, Tower 2
Pioneer St. corner Madison St. Mandaluyong City

Bring the following documents:
1. For first time claimants, you have to present the original copy of the Certificate of Full Payment or Original Certificate of Ownership and Policy Contract/Agreement
2. For repeat claimants, please submit the acknowledgement copy of documents which were issued when you received the 1st and 2nd payment of your claim
3. Bring two (2) valid IDs showing your name, photo, and signature

Thank you very much again to Jun for this update above. His source is the August 30, 2019 issue of PhilStar.

 

Below post was published on February 14, 2009

Just like you, I got so bothered when I read on Inquirer.net that 4 pre-need firms are about to collapse. Philip Piccio, president of PEP Coalition, named one of the four as Pryce and then challenged the SEC to name the 3 other firms. One top SEC executive denied there are 3 other failing firms, but the other one confirmed it.

And this after the collapse of 3 Legacy pre-need firms, and long before them, the collapse of CAP and Pacific Plans. Although Pacific seems to be okay now, since Noel Oñate’s Abundance Providers Investments Corp., the new owner of Pacific, promised to buy back Pacific plans at 15% yearly interest. Piccio and his group, however, plan to pursue their case against the original owner of Pacific.

These are some info that I gathered as of today, February 14:

1. On SEC website, Danvil Plans is one of the 24 pre-need corporations with 2009 dealer’s license. Compared to the list of September 2008, the pre-need firms removed were:
Ideal Pension
Legacy
Pacific Plans

There is one new firm on the list: AMA Plans.
On another page there are three other firms with 2009 dealer’s license:
IMG Insurance Brokers
Prudentialife Market Resources, both linked to Prudentialife and
Jardine Lloyd Thomson Insurance Brokers, linked to Philam Plans

2. Philip Piccio, president of the Parents-Enabling Parents Coalition (PEP) who is campaigning for
Pacific Plans open-ended educational planholders, was generous enough to reply to my text about Danvil. He texted back that Danvil Plans is not one of the 4 pre-need firms about to collapse.

3. Jack of Danvil Plans in Makati said that Danvil is very stable. Jack was the one who answered me on the phone when I called the Danvil office in Makati on February 13. I asked him if he knows about the 4 pre-need firms being mentioned about to collapse, and he said that he doesn’t know. He said that what he knows is that Danvil is stable and that it has been paying claims as of date. I asked him why Danvil is not updating its web site, and he said that he will relay my concern to management.

4. According to a list provided by Salve Duplito on her article on Inquirer.net Money Smarts, Danvil Plans is one of the 19 pre-need firms who have signed a document expressing their willingness to increase their capital in 2009 to cope with anticipated difficulties due to low investment rates in the financial markets.  The bigger pre-need firms are on the list.

5. My conclusion is that the 4 pre-need firms being reported about to collapse includes Ideal Pension because I read one planholder complaining that Ideal Plan has not given him the proceeds of his plan which has matured in 2008. The other one would be Pryce Plans, which most everybody knows by now has already collapsed way back in 2007. But in fairness to Pryce, it’s doing its  best to give something to its planholders. My friend who is a Pryce planholder is getting some benefits through Pryce’s other companies, such as hotel stays, etc. She has also received some amounts of money for tuition.

As for the other two pre-need firms, I’m still checking. I’ll update this article again today after I get home from church. Happy Valentine’s Day to all Danvil planholders.

Pre-Need Corporations With 2009 Dealer’s License as of January 28, 2009

1  AMA Plans Inc.   (pension)
2  Ayala Plans Inc.  (education, pension)
3  Caritas Financial Plans Inc.  (pension)
4  CityPlans Inc.  (pension)
5  Cocoplans Inc.  (education, life, pension)
6  Danvil Plans Inc.  (formerly Berkley International Plans, educational, pension)
7  Destiny Financial Plans Inc.  (pension)
8  Eternal Plans Inc.  (education, life, pension)
9  First Country Plans Inc.  (pension)
10  First Union Plans Inc. (pension)
11  Grayline Plans Inc. (pension)
12  Himlayang Pilipino Plans Inc. (education, life, pension)
13 Loyola Plans Consolidated (education, life, pension)
14  Manulife Financial Plans  (educ pension)
15  Mercantile Careplans  (educ life pension)
16  Paz Memorial Services (life)
17  Permanent Plans  (life, pension)
18  Philam Plans  (educational, life, pension)
19  Provident International Plans  (life, pension)
20  Prudentialife Plans  (educational, life, pension)
21  St. Peter Life Plan  (life)
22  Sun Life Financial Plans   (educational, pension)
23  Transnational Plans   (educational, pension)
24  Trusteeship Plans  (educational, life, pension)

Additional List of Pre-Need Firms With 2009 Dealer’s License as of January 28, 2009
IMG Insurance Brokers Corp.
Prudentialife Plans Inc.
Jardine Lloyd Thomson Insurance Brokers Inc.
Philam Plans Inc.
Prudentialife Market Resources Corp.
Prudentialife Plans Inc.

Removed from the Licensed Dealer List of January 2009

Ideal Pension Plans
Legacy Consolidated Plans
Pacific Plans

Listed in the February 2007 list, but no longer licensed since 2008
Classic Plans
Eduplan Phils
Millennium Plans
Primanila Plans
PrimePlan
sources:

SEC List of Pre-Need Firms With 2009 Dealer’s License

Article by Salve Duplito on Inquirer Money Smarts

76 Comments

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