Philippine Prudential Life unveils new product

MANILA, Philippines - The Philippine Prudential Life Insurance Co., Inc. has unveiled its latest product – the Smart College Protector Plan.
This educational plan is designed as a savings tool to provide a certain amount of cash when a child reaches the age of 17. Children up to age 10 are qualified to avail of the plan.
Depending on the plan they will choose, kids can get as much as P100,000 each year for five years, and this can even reach up to P1 million in case of a fatal injury.
Premiums are payable for a period of only five or seven short years.
Aside from biological parents and kin, non-biological guardians can also be payors as long as they are between ages 18 and 65. In the event a payor dies during the paying period, premium payments will be waived; and the child will receive an annual stipend of P50,000 for pre-college education until he or she reaches the age of 16.
Philippine Prudential Life president and chief executive officer Gregorio Daniel Mercado expressed confidence that their new product would attract many potential customers, especially with the recent passage of Republic Act 10001.
This new law lowers taxes on life insurance premiums to two percent from the previous five percent, and allows a one-time graduated documentary stamp tax (DST) imposed on life insurance policies.
It covers policies sold after the new law took effect, and even those sold prior to the effectivity of the law, but with premiums yet to be paid. President Arroyo signed RA 10001 last February.
“As a result of this new law, definitely there will be a rise in sales because some who couldn’t afford life insurance plans will now be able to afford them,” Mercado said.
For this year alone, Philippine Prudential is embarking on a massive campaign to reach more sectors of society.
Aside from new products, the company is also expanding its retail operations and would soon open more distribution channels across the country.

source of this article:
http://www.philstar.com/Article.aspx?articleid=563802

Philippine Prudential Life Insurance Company / PPLIC Holds Give-a-Gift Drive

Philippine Prudential Life Insurance Company, Inc. (PPLIC), the industry leader in innovation and growth, remains committed to its Corporate Social Responsibility (CSR) thrusts through its continued partnership with 2009 CNN Hero Of The Year “Kuya” Efren Peñaflorida and his Cavite-based Dynamic Teen Company (DTC) youth organization. As part of the Company’s annual Christmas donation efforts, PPLIC, through its “Give-a-Gift” Drive, Drive, reaffirmed its active support to this worthy social outreach group by donating bags of goods and 12 sacks of rice; enough to provide for the 600 children being supported by DTC. PPLIC formally turned over the goods recently at the DTC’s Kalingain Batang Mahirap Learning Center in Cavite City.

“More than just the goods, it is the spirit of sharing and volunteerism that we would really want to impart with this initiative,” Philippine Prudential Life / PPLIC Senior Vice President Daniel Mercado III said. “What was really very heartwarming was that many of our employees wholehearted shared their time and showed their enthusiasm in packing all the 600 bags of goods for DTC,” he added.

“PPLIC’s continuous support to DTC and to the kids assures us that together we will realize the goal of trying to give these kids a decent life,” said Ms. Rezcel Fajardo, Administrator of the Dynamic Teen Company. underprivileged and share with us the vision of unleashing our heroes within,” she added. “We are grateful to companies like PPLIC which have the initiative to help the
underprivileged and share with us the vision of unleashing our heroes within,” she added.

Photo above shows Dynamic Teen Company President Alexandra Marie Oliva (second from left) and DTC Administrator Rezcel Fajardo (fourth from left) receiving the goods from Philippine Prudential Life / PPLIC executives and staff (from left): Marie Lynn Tibon, Assistant to the Executive Secretary; Daniel Mercado III, Senior Vice President; and, Rose Evangelista, Vice President for Direct Marketing.

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