The Senate has ratified the final version of the Pre-Need Code which seeks to protect plan holders and ensure the viability of an industry that has been weakened by a recent spate of bankruptcies and failures. Read the rest of this entry »
Pre-need code OKd; Roxas raises objection
October 1, 2009
Pre-needs sound alarm over new rules
August 10, 2009
PRE-NEED companies have been placed in a sticky situation by the new guidelines that raised the minimum trust fund deposits to 50 percent to 60 percent of collected funds, and would like the Securities and Exchange Commission to ease the rules. Read the rest of this entry »
Life products lift preneed sales in first four months, says SEC
June 27, 2009
SALES of preneed plans were up in the first four months as clients bought more life products during the period, the Securities and Exchange Commission (SEC) said. Read the rest of this entry »
Another pre-need bites the dust
April 22, 2009
PERMANENT Plans has decided to stop selling pre-need plans because it “no longer believes in the viability” of the pre-need industry given the tough times, its president and chief executive said yesterday. Read the rest of this entry »
Preneed firms should account for windfall from forfeited plans
March 31, 2009
The Trade Union Congress of the Philippines (TUCP) urged regulators to compel pre-need companies to account for the estimated billions of pesos they hoarded from lapsed and forfeited plan contracts as well as in-force plans voluntarily surrendered by investors. Read the rest of this entry »
SEC unveils bailout for pre-need industry
February 20, 2009
THE Securities and Exchange Commission has given ailing pre-need firms four to five years to build up their impaired capital and trust funds as a result of the economic slowdown, its top official said yesterday. Read the rest of this entry »
Pre-need sales plunge 19% to P15.3 billion last year
February 6, 2009
Total sales of the country’s pre-need companies fell 18.56 percent last year to P15.3 billion, according to latest data released by the Securities and Exchange Commission’s Non-Traditional Securities Department. Read the rest of this entry »
Preneed sales up in 2008 despite financial crisis
February 5, 2009
SALES of preneed plans were up last year as more clients bought more life products during the period, the Securities and Exchange Commission (SEC) said. Read the rest of this entry »
Pre-need firms confident of surviving financial crisis
January 29, 2009
The Federation of Pre-need Plan Companies Inc. (FPPCI), which earlier warned of an impending collapse of the industry resulting from strict regulations and the global economic crunch, said the pre-need firms are liquid and will still be able to meet future obligations to planholders. Read the rest of this entry »
Pre-need industry in distress
January 26, 2009
When the concept of pre-need plans was introduced to the market, it seemed like every man’s dream come true. Especially so when those who bought a plan, say an educational plan, saw that it worked beautifully. The concept was not difficult to sell because of the old Filipino practice of paluwagan which was pretty much akin to putting away savings in a piggy bank. It was an easy way of forcing one’s self to save to secure future needs. Read the rest of this entry »
