If you are planning to buy pre-need insurance products like educational plan, life or memorial plan, and pension plan, you are caution to buy only from companies authorized by the Philippine Insurance Commission.
For 2016, there are only 11 pre-need insurance companies authorized by the Philippine Insurance Commission. These companies have the Certificate of Authority for License Year 2016.
- Ayala Plans Inc.
- Caritas Financial Plans, Inc.
- CityPlans Inc
- First Union Plans
- Himalayang Pilipino Plans, Inc
- Manulife Financial Plans, Inc
- Mercantile Care Plans, Inc
- PhilPlans First Inc
- St Peter Life Plans, Inc
- Sunlife Financial Plans, Inc
- Trusteeship Plans, Inc
If you are being offered pre-need insurance by an agent of a company not listed above, don’t buy! Protect your money. Invest only with government authorized pre-need insurance companies.
If you have already buy an insurance but the company is not listed above, contact your pre-need insurance provider to ask for status of the company.
***If you are interested in the latest update on Loyola Plans payment of claims, visit this post.