The news about the real status of the pre-need industry really made me sick. As a parent, I opted to acquire a single plan for my 2 kids. It was a Money-for-Money plan wherein a specific and graduating amount of money will be issued to the scholar on an annual basis plus transportation allowance. The contract price is P200,000.00++ but more than P700,000.00 maturity value and benefits upon maturity in 2016. It is only 2009 now and I need 8 more years to wait. The said pre-need company is a sister company of my husband’s company and I already talked to one of its officer to ask the status of the company. I am satisfied with what I heard but I guess I will be more at peace if the government will resolve the big issue.
I sympathized with those parents who where not able to benefit from those paid plans upon maturity and feel worried too for parents like me who are just waiting for the maturity of their plans. I was able to hear the Senate and House of Representatives’ probes over pre-need issue and I am really disappointed. I am wondering why the SEC allowed the deficit of the industry over its trust fund reached as high as P57B knowing that the said fund will be used to secure the payment among planholders? Was there a connivance or poor performance?
Pleaseeeee!!! The Filipino people had enough of corruptions and poor governance but please spare our kids from this dirty politics and don’t destroy their future.
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