Only 12 Licensed Pre-need Companies as of 2021

Insurance Companies 2 Comments

Updated February 10, 2022

There are now only 12 licensed pre-need companies in the Philippines as of September 2021:

family beach and preneed plans

12 Licensed Pre-Need Companies as of September 2021

8 Companies in the Licensed Companies and Financial Performance List as of Sep 2021:

  1. Ayala Plans Inc. — Education/Pension Plans
  2. Caritas Financial Plans Inc. — Pension Plans
  3. CityPlans Inc. — Pension Plans
  4. Cosmopolitan Climbs Life Plan Inc. — Life Plans
  5. GoldenFuture Life Plan Inc. — Life Plans
  6. St. Peter Life Plan Inc. — Life Plans
  7. Trusteeship Plans Inc. — Education/Life/Pension Plans
  8. Mercantile Care Plans Inc. — only servicing clients, no longer selling plans

4 Companies in the Financial Performance List only, as of Sep 2021

  1. Manulife Financial Plans Inc. — wholly owned subsidiary of The Manufacturers Life Insurance Co. (Phils.), Inc.
  2. Sunlife Financial Plans — wholly-owned subsidiary of Sun Life of Canada (Philippines), Inc.
  3. New Life Memorial Plan
  4. Himlayang Pilipino Plans Inc. — was placed under conservatorship in December 2021 due to inability to pay its debts and obligations

15 Pre-Need Companies Licensed as of January 2020

1. Ayala Plans Inc. — Education/Pension Plans
2. Caritas Financial Plans Inc. — Pension Plans
3. CityPlans Inc. — Pension Plans
4. Cosmopolitan Climbs Life Plan Inc. — Life Plans
5. Diamond Memorial Care Plans Inc. — Life Plans
6. GoldenFuture Life Plan Inc. — Life Plans
7. Manulife Financial Plans Inc. — Pension Plans
8. PhilPlans First Inc. — Education/Pension Plans
9. Prime Care Kaagapay Life Plan Inc. — Life Plans
10. St. Peter Life Plan Inc. Life Plans
11. Sunlife Financial Plans Inc. — Education/Pension Plans
12. Trusteeship Plans Inc. Education/Life/Pension Plans

Firms that Are Servicing Only, No Longer Selling Plans:

1. First Union Plans Inc.
2. Himlayang Pilipino Plans Inc.
3. Mercantile Care Plans Inc.

Source: Insurance Commission

Licensed Pre-Need Companies for the Year 2016, as of Sep 2016

As of September 2016, there are 15 pre-need companies licensed by the Insurance Commission to sell pre-need plans, service clients and grow their business in 2016:

Alphabetically arranged:
 
1.    AMA Plans, Inc.
        (pension plans)
2.    Ayala Plans, Inc.
        (educational and pension plans)
3.    Caritas Financial Plans, Inc.
        (pension plans)
4.    CityPlans Inc.
        (pension plans)
5.   Destiny Financial Plans, Inc.
        (life plans)
6.    Eternal Plans, Inc.
        (educational, life and pension plans)
7.    First Union Plans, Inc.
        (pension plans)
8.    Himlayang Pilipino Plans, Inc.
        (educational and life plans)
9.    Manulife Financial Plans, Inc.
        (pension plans)
10.   Paz Memorial Services, Inc.
          (life plans)
11.  PhilPlans First, Inc.
        (educational, life and pension plans)
12.  St. Peter Life Plan, Inc.
        (life plans)
13.  Sunlife Financial Plans, Inc.
        (educational and pension plans)
14.  Transnational Plans, Inc.
        (educational and pension plans)
15.  Trusteeship Plans, Inc.
        (educational, life and pension plans)
 
These 2 companies are licensed only to service existing planholders:
1.  CocoPlans Inc.
       (Servicing Company)
2.  Mercantile Care Plans, Inc.
        (servicing company only)
 
These 2 companies below were later added to the list of licensed pre-need companies for the year 2016:
1. Destiny Financial Plans Inc. — life plans
2. Paz Memorial Services Inc. — life plans

Destiny Financial Plans Inc. received its Insurance Commission’s Certificate of Authority on September 2, 2016. It’s authorized to sell life plans in the Philippines. The certificate is valid from September 2, 2016 to December 31, 2016. Head Office:
Unit 2F Amber Place
67 Bayani Road, Fort Bonifacio
Taguig City
Phone no.: 856-1111
Chairman:  Arsenio Bartolome III
Branches:
1. Holy Gardens Calamba  Bo Barandal, Calamba City
2. Holy Gardens Pangasinan –  Bo Agdao  San Carlos City, Pangasinan
Website: destinyfinancialplans.blogspot.comPaz Memorial Services, Inc., also known as Paz Life Plan, started in 1969.
Main Office:
4th Floor, Eurovilla 4
No. 853 Arnaiz Avenue
Legaspi Village, Makati City
Emails: sales@pazlife.com
info@pazlife.com
customercare@pazlife.com
Website: pazlifeplans.com
Facebook page: facebook.com/pazlife
Phone nos.: 815-0156
Customer Care Hotline:
(02)749-3817
(02)749-3818

Note:
It was mentioned in the Interaksyon article
http://www.interaksyon.com/business/87716/only-19-preneed-firms-still-operational-five-with-pending-licenses–insurance-commission that Paz Memorial Services was one of 5 pre-need firms whose licenses were pending as of May 8, 2014.

Licensed Pre-need Companies, as of July 2016:

One company, AMA Plans, was added to the May 2016 list.

Alphabetically arranged:

1.    AMA Plans, Inc.
2.    Ayala Plans, Inc.
3.    Caritas Financial Plans, Inc.
4.    CityPlans Inc.
5.    CocoPlans, Inc.*
6.    Eternal Plans, Inc.
7.    First Union Plans, Inc.
8.    Himlayang Pilipino Plans, Inc.
9.    Manulife Financial Plans, Inc.
10.  Mercantile Care Plans, Inc.*
11.  PhilPlans First, Inc.
12.  St. Peter Life Plan, Inc.
13.  Sunlife Financial Plans, Inc.
14.  Transnational Plans, Inc.
15.  Trusteeship Plans, Inc.

* These 2 companies, CocoPlans and Mercantile Care Plans, are just servicing companies, licensed to service only their existing clients.

Licensed Pre-Need Companies, as of May 18, 2016:

Here are 14 pre-need companies licensed by the Insurance Commission to operate in 2016:

Alphabetically arranged:

1.    Ayala Plans, Inc.
2.    Caritas Financial Plans, Inc.
3.    CityPlans Inc.
4.    CocoPlans, Inc.*
5.    Eternal Plans, Inc.
6.    First Union Plans, Inc.
7.    Himlayang Pilipino Plans, Inc.
8.    Manulife Financial Plans, Inc.
9.    Mercantile Care Plans, Inc.*
10.  PhilPlans First, Inc.
11.  St. Peter Life Plan, Inc.
12.  Sunlife Financial Plans, Inc.
13.  Transnational Plans, Inc.
14.  Trusteeship Plans, Inc.

*These 2 companies below are authorized only to service their existing planholders, and are no longer authorized to sell plans:
CocoPlans, Inc.*
Mercantile Care Plans, Inc.*

Compared to the list of pre-need firms licensed to operate in 2015, these 2 companies below are no longer in the list for the year 2016:

AMA Plans Inc.
Paz Memorial Services Inc.

Related Posts

2 Comments

  1. Juan B. Botor. Jr. 02/09/2022

    I no longer see in your listings, the pre need company i enrolled with, for me & my wife pension plan?

    Reply
    • Nora 02/10/2022

      Hi Juan, what’s the name of your pre-need company?

      Reply

Leave a Reply