Thursday, April 23, 2009

SEC: Prudentialife License to Sell Pre-Need Plans Revoked

Another case of pre-need plan in need?

The latest news is that SEC announced the cancellation of Prudentialife's license to sell pre-need plans due to the companies deficiencies in trust fund.

The stop to selling new plans does not really mean Prudentialife is bankrupt, they need to submit new assets to plug the deficiencies in their trust fund.

Is this the same as CAP and Pacific Plans hit by traditional pre-need and educational plans?

I can see lots of comments from people wishing how to apply for a refund for their pre-need plans bought from Prudentialife as well as how to apply for reimbursements.
Try to call prudentialife hotline (if anyone will answer), email their customer care (as if they really care) or visit their main office on EDSA, Mandaluyong City (if you get past the long lines of people inquiring how to get their money back)

I did try to complain about their agents unethical selling practice but fell on deaf ears of Prudentialife Plans.

People still receive text messages enticing them to claim their "prize" at their office on Rada St in Makati. :(

Related Posts:
Prudential Life Unethical Selling "Promo"
Prudential Life Scam is at it Again

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