I would just like to document Securities and Exchange Commission's (SEC) statement regarding the financial stability of the 22 remaining licensed preneed companies to continue delivering their obligations especially to their planholders according to a news report in Inquirer.net.
SEC is the government agency responsible in monitoring the activities and status of partnerships and corporations. You may remember the recent fiasco of Legacy preneed corporations where owner Celso Delos Angeles is charged with syndicated estafa for allegedly duping investors. This of course has to be proven. But if SEC has an eagle-eye then this incident should have not happened. Then after Legacy some other preneed firms are stopping their operations because of inability to pay obligations to planholders. Again, these things could have been prevented.
And now, according to the SEC, the preneed firms with valid dealers’ licenses for 2009 are as follows: AMA Plans Inc.; Ayala Plans Inc.; Caritas Financial Plans Inc.; CityPlans Inc.; Coco Plans Inc.; Danvil Plans Inc. (formerly Berkley Int’l. Plans Inc.); Destiny Financial Plans Inc.; Eternal Plans Inc.; First Country Plans Inc.; First Union Plans Inc.; Grayline Plans Inc.; Himlayang Pilipino Plans Inc.; Loyola Plans Consolidated Inc.; Manulife Financial Plans Inc.; Mercantile Careplans Inc.; Paz Memorial Service Inc.; Philam Plans Inc.; Provident Plans International Corp.; St. Peter Life Plan Inc.; Sun Life Financial Plans Inc.; Transnational Plans Inc. and Trusteeship Plans Inc.
Let's hope that none of the above companies stop their operation or collapse for the sake of the planholders and its other investors/creditors but more for the face of THE governing body for all partnerships and corporation where investors, creditors, consumers, agents, etc. use in researching the stability of the business [partnership and corporation] they'll invest or loan their money, apply as a marketer, etc.
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