Prudentialife Plans to continue paying claims

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Planholders of Prudentialife Plans Inc. whose plans are terminated and claims are being processed as of February 6 will continue to be paid, according to the Insurance Commission.

Prudentialife said in its proposal for rehabilitation it is still able to cover life insurance claims, but education and pension planholders may have to suffer reduced benefits.

The rehab plan attempts to minimize planholders’ losses by transferring the trust funds to another company, Manila Bankers Life Insurance Corp., which was founded by Gil Puyat in the 1960s.

Company president Jose Alberto T. Alba says rehab is better than liquidation, under which education and pension planholders might get P19,534.

Through the proposed rehab, on the other hand, education and pension planholders might get P25,168 and P46,394, respectively.

The IC directs planholders and all concerned to file with the regulator by Feb. 25 their written comments on or opposition to the rehab plan.

This must be done through the authorized conservator, lawyer Rosario S. Bernaldo, who may be reached through RS Bernaldo & Associates at Cityland Condominium 10 Tower 1 along Ayala Ave. in Makati.

A copy of Prudentialife’s proposal is available at the IC, Bernaldo’s office and at www.prudentialife.com.

Planholders and all concerned are also directed to attend hearings on the proposal scheduled at 9 a.m. of March 2 and 13, to be held at the IC offices along United Nations Avenue in Manila.

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  • Guest

    saan kaya idi-nivert ang pera? parang C.A.P. naloko sa egosyo ng MRT ayun nagka lugi lugi. ayusin nyo ang serbisyo nyo sa planholders, eto namang Presidente at Board of Directors ng kumpanya wag no abusuhin dahil hindi kayo ang may-ari ng pinagpaguran ng planholders nyo.

  • http://profile.yahoo.com/M3QWU2DIGKVXXTX6CQHXVYKOJY The

    The government must HOLD ALL ASSETS of Prudential Owners, Directors and an investigation MUST take place to check that they did not use our money at the same time salary of these people must STOP so that plan holders interest be the priority… I would like them to be accountable on what they did.

  • WeAry_Bat

    There are some more people suffering from other pre-need companies.  I know of someone whose plans in Platinum were completed around 2005 but it turns out, its just the same year it started to disappear.

    • delpillar

       Yung kapatid ko nadale ng Pryce Preneed Plan na yan.

      Ang sabi ko na lang ay kasalanan mo yan. Never-heard na company ay nag-pa-insured ka. Next time talaga, kahit may pangalan ay hwag na kayong mag-painsured sa preneed or educational. Pede na rin yung life insurance but I discourage him not to enroll even for life insurance

      • gLennpaL

        palibhasa ikaw ay walang pera

  • http://pulse.yahoo.com/_GXTYXWVCPDC2K3PMWLB6YOQ2HA Harzburgite

    I have three children, they have Platinum and  CAP educational plans, both of these declared bankcruptcies so we did not manage to collect any money from these two companies even my children are already entitled to be given their monthly schooling allowance. I thought this Prudentilalife Plans is more stable than these two companies, they are all the same, our goverment should act on this so we, the poor planholders, can refund what we had paid to these unscrupulous companies.

  • http://profile.yahoo.com/LC73KT4CFLBQ5YHVHCE2LIRRGY Five

    Maraming sacrifice na ginawa naming mga planholders mabayaran lang ang premiums. Pagod, dugo at pawis ang naging puhunan para masigurado and kolehiyo ng mga anak ko. Ito lang ang tanging paraan para maitustos ang kanilang pagaaral. Sana maawa po kayo sa mga bata. Huwag nyong sirain ang kanilang kinabukasan……..

  • http://profile.yahoo.com/EVCJVZJ7YXLJ3B2WPVRIZJA6LE Malou

    So in the meantime, our kids would have to stop schooling while we wait for your f…g decision?  Can you please explain that to our children?  We parents have tried to do our best to ensure their future with our hard-earned money and ganoon kadali na sabihin niyo na you cannot pay? Hiding behind your so-called law and lawyers? We are not talking about stocks here.  We are talking about INSURANCE!  who are you going to bribe this time????

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