Author Topic: Bakit ba nalugi ang Prudentialife Plans?  (Read 2429 times)

0 Members and 1 Guest are viewing this topic.

MotherTouch

  • Full Member
  • ***
  • Posts: 208
  • Karma: +0/-0
    • View Profile
Bakit ba nalugi ang Prudentialife Plans?
« on: May 20, 2013, 04:37:47 PM »
Ask ko lang sana... meron po ba sa inyo dito ang affected don sa nabankrupt na Prudential Life Plans Inc?

I purchased pension plan sa kanila noong 2005 pa. And i am so disappointed kasi nalaman ko nalang na nabankrupt sila

May chance pa po kaya maclaim namin yung pension namin?


PesoRepublic.com | Your smart guide to money matters and entrepreneurship.

Bakit ba nalugi ang Prudentialife Plans?
« on: May 20, 2013, 04:37:47 PM »

Mountain View

Ken312

  • Full Member
  • ***
  • Posts: 146
  • Karma: +0/-0
    • View Profile
Re: Bakit ba nalugi ang Prudentialife Plans?
« Reply #1 on: May 20, 2013, 04:46:46 PM »
According to various media nalugi sila dahil daw sa

1. Hindi na daw mabayaran nung company ang mga benefits nung mga plans based on sa actuarial assumptions na kinompute which drastically changed due to “subsequent events beyond the pre-need companies’ control.” Just like the case of of educational plans wherein tuition rates were expected to increase only by the government-mandated cap of 10% per year but rose more than expected after the government adopted a policy of deregulation with regard to tuition fees.

2. Due to Global Economic Crisis -  Prudentialife said they were not able to generate the projected returns on their investments due to the global financial meltdown in 2007 and 2008 led by the collapse of Lehman Brothers,  Merill Lynch, and other big financial institutions.

3. SEC rules on investment — the company also blamed the SEC for its rules disallowing pre-need firms to invest in unlisted companies and properties that were not income-generating. Prudentialife claims the SEC forced them to divest investments in those types of assets regardless of the loss they would have to absorb due to such divestment.

4. Revocation of Dealers’ License and Permit to Sell — the SEC and the Insurance Commission were tagged as culprits for their failure to act on Prudentialife’s request to reinstate the company’s dealers’ license which, according to them, would have enabled them to sell new plans and ultimately restore financial viability.

5. Unscheduled termination of plans — Prudentialife argues that more than 50,000 plans, amounting to P3.8 billion, were terminated by planholders as of September 2011 due to fear supposedly brought about by the revocation of their dealers’ license and the downfall of other pre-need firms such as College Assurance Plan (CAP) and the Legacy Group. The termination of plans resulted to non-payment of premiums which purportedly impaired the liquidity of Prudentialife’s trust funds.

CodeRepublic

  • Global Moderator
  • Sr. Member
  • *****
  • Posts: 313
  • Karma: +0/-0
    • View Profile
Re: Bakit ba nalugi ang Prudentialife Plans?
« Reply #2 on: May 20, 2013, 04:53:32 PM »
Hala paano na kaya yan.. parehas tayo @mothertouch I have fully paid my Pension Plan last Oct 2011 for 10 years maturization...what will happen next if the company is liquidated-do we get at least the full contract price?

RichPoorDad

  • Sr. Member
  • ****
  • Posts: 260
  • Karma: +0/-0
    • View Profile
Re: Bakit ba nalugi ang Prudentialife Plans?
« Reply #3 on: September 19, 2013, 03:22:16 PM »
parang wala ng matinong preneed company ngayon no? lahat nagsasara. di katulad dati ang ganda ng offer sa mga policy holders nila

Please click on the banner to go to link

CodeRepublic

  • Global Moderator
  • Sr. Member
  • *****
  • Posts: 313
  • Karma: +0/-0
    • View Profile
Re: Bakit ba nalugi ang Prudentialife Plans?
« Reply #4 on: July 24, 2014, 12:53:22 PM »
any updates dito sa prudential life? kelan ang release ng cheke?

GreenMoney

  • Living a green body in an ungreen world
  • Sr. Member
  • ****
  • Posts: 465
  • Karma: +0/-0
    • View Profile
Re: Bakit ba nalugi ang Prudentialife Plans?
« Reply #5 on: July 24, 2014, 12:55:28 PM »
actually nagrelease na sila noon pa.

Prudentialife Education Plan



<a href="http://philnews.ph/wp-content/uploads/2013/08/Prudentialife-Education-Batch-3.pdf" target="_blank">http://philnews.ph/wp-content/uploads/2013/08/Prudentialife-Education-Batch-3.pdf</a>

Prudentialife Pension Plan

<a href="http://philnews.ph/wp-content/uploads/2013/08/Prudentialife-Pension-Plan.pdf" target="_blank">http://philnews.ph/wp-content/uploads/2013/08/Prudentialife-Pension-Plan.pdf</a>

Prudentialife Memorial Plan

<a href="http://philnews.ph/wp-content/uploads/2013/08/Prudentialife-Memorial-Plan.pdf" target="_blank">http://philnews.ph/wp-content/uploads/2013/08/Prudentialife-Memorial-Plan.pdf</a>

Ken312

  • Full Member
  • ***
  • Posts: 146
  • Karma: +0/-0
    • View Profile
Re: Bakit ba nalugi ang Prudentialife Plans?
« Reply #6 on: July 29, 2014, 09:00:36 AM »
parang wala ng matinong preneed company ngayon no? lahat nagsasara. di katulad dati ang ganda ng offer sa mga policy holders nila



oo nga. pansin ko nga din. kaya nga nakakatakot na din kumuha ngayon e ng mga preneed plans. Pera mo na nga, kalaban mo pa... talagang lahat may risk involved. part of the risk kasi ginagawa natin na iinvest ang pera natin pero kelangan aralin ang market at get informed sa nangyayari sa economy.

MotherTouch

  • Full Member
  • ***
  • Posts: 208
  • Karma: +0/-0
    • View Profile
Re: Bakit ba nalugi ang Prudentialife Plans?
« Reply #7 on: October 17, 2014, 03:26:39 PM »
may updates ba dito? kelan ba yung 2nd tranche schedule ng Prudential?

PesoRepublic.com | Your smart guide to money matters and entrepreneurship.

Re: Bakit ba nalugi ang Prudentialife Plans?
« Reply #7 on: October 17, 2014, 03:26:39 PM »

 

Related Topics


Posting Disclaimer: Any individual may post a message in this forum and may do so anonymously. Therefore, the sole author is exclusively and entirely responsible for all opinions in that message. They do not represent the official opinions of PesoRepublic , its administrators or moderators or the PesoRepublic Management. PesoRepublic is merely acting as an impartial conduit for constitutionally protected free speech and is not responsible and will not be held liable for the content of such messages. Community & Groups - Top Blogs Philippines