PETPlans is reliable?

LIE NO. 1:
PETPlans is a reliable, customer-oriented and responsible company. We are financially strong and have a track record of honesty and integrity.

LIE # 2:

Consistently doing the right thing
PETPLANS was the first to stop selling traditional, open-ended educational plans in 1992 – at great financial sacrifice – because it was the right thing to do. This decision proved to be correct, with tuition fees increasing by 12 times over the last five-year period from 2000 to 2005. The SEC banned the sale of such open-ended plans only in 2002. PETPLANS has also offered a Buy-Back program to its open-ended planholders that paid off their original investments plus returns that are higher-than-bank interest rates. To date, less than 2,000 of some 4,000 open-ended plans have not been bought back. The program resulted in some P82 million savings for the company. PETPLANS recently decided to voluntarily impose a moratorium on the sale of new plans as it has become clear that current regulations will not provide peace of mind for planholders.

LIE # 3:
The Mechanics of Conversion
Upon the conversion’s approval by the court, planholders will exchange their pre-need plans, contracts and insurance certificates for a Fund Certificate indicating a certain number of shares with a corresponding value pro-portionate to their share in the Fund. For planholders who are not yet fully paid, all the subsequent payments will be deposited directly to the Mutual Fund, for which additional certificates will be issued to the planholders. Once the conversion is completed, holders of fully paid Fund certificates may decide to hold on to or withdraw their investment.

LIE # 5
Advantages of Mutual Fund Cited
A mutual fund is a fund operated by an investment company or placed under investment management of a bank or financial entity which raises money from shareholders and invests it in stocks, bonds, options, commodities, or money market securities. While the law does not allow mutual funds to guarantee a return, they may provide reasonable returns on planholders’ investments. These funds offer investors the advantages of diversification and professional management. The management of the fund by a very large, experienced and reputable institution, which can easily be accessed by planholders will help reassure them that their investments are intact and being taken care of. "Once outside the pre-need industry’s restricted investment guidelines,” Ocampo said, “the trust fund can take advantage of broader investment parameters that allow for better risk management, more realistic asset-liability matches, and higher returns."

LIE # 6
A Track Record of Excellence
PETPLANS has proven its Financial Strength, Commitment to Customer Interests, and Management Excellence.
Total Trust Fund Assets of P2.7 billion, of which P1.2 billion or 44% is in cash or cash-equivalent investments. With this alone, the Company has enough liquidity to cover plan availments over the next 5 years.
Over P150 million in cash or cash equivalent investments and over P60 million in real property assets in its corporate coffers.
At its peak, was growing at a clip of 25% per annum, with more than 130 branches nationwide, 500 employees and 12,000 sales agents serving some 140,000 planholders.
Rose to become the 4th largest company in just one year after its organization; thereafter maintaining its position as one among the 10 leading industry players.
Most comprehensively ISO-certified pre-need company, proving its world-class customer-first services and processes.
Cited as the “Most Outstanding Pre-Need Company” by 4 independent groups last year.
Total Assets of over P3 billion.