Sunlife: Insurers stable; pre-need faces new challenge

For those moms,dads and future savvy individuals owning or considering to own a life insurance plan, no need to fret over the recent trouble with Prudential Life and the large majority of pre-need companies in the Philippines

Sunlife Financial Phils. President Riza Mantaring told Business Nightly's Coco Alcuaz falling interest rates are a challenge for insurers and pre-need companies but insurers are healthy due to stricter practices and regulations.

Watch the very informative interview:
http://www.abs-cbnnews.com/video/business/02/14/12/sunlife-insurers-stable-pre-need-faces-new-challenge#ooid=puc2NpMzpyavOKVsj-ViBZ2bKsq5I98o

Source:
http://www.abs-cbnnews.com/video/business/02/14/12/sunlife-insurers-stable-pre-need-faces-new-challenge

For a free sample policy or to know more about sunlife and what services it can offer the money-wise investor that you are, send an email with your name,gender,age and protection/investment interests to bryan.d.garcia@sunlife.com.ph. You may also request for a free non-obligatory presentation for your convenience.

Money Talk | Prudential Life Plans and 30 other Pre-need companies in trouble

 The Insurance Commission on February 3, 2012 issued a “Stay Order” on the request of troubled pre-need firm Prudentialife Plans Inc. for corporate rehabilitation.

With the “Stay Order” decision, all payment of claims by planholders effective February 6, 2012 are suspended. That means starting February 6, all Prudentialife planholders cannot file for any claims against the company until its corporate rehabilitation plan is approved.  All claims being processed, however, as of February 6 will still be honored and funds will be released to planholders.

Notice to Prudentialife planholders and other stakeholders
The Insurance Commission directs all Prudentialife planholders, stockholders, creditors, and other interested parties to view and comment on the verified proposal for corporate rehabilitation submitted by the company. Details of the proposal are available at Prudentialife’s website. Deadline of  comments on the said rehabilitation plan is on February 25, 2012.

Planholders and other interested parties are also encouraged to attend the consultation hearings scheduled on March 2 and 13, 2012, 9 am, at the IC Board Room, 2nd Floor of the Insurance Commission building at United Nations Avenue in Manila. The sessions will discuss the process of corporate rehabilitation for Prudentialife.