Friday, April 27, 2012

The Battle with Philippine Prudential Life Insurance Company, Inc. (PPLIC)

I wasn't the type who had issues with how the Philippine Prudential Life Insurance Company Inc. (PPLIC) tricked their customers. Although for one, their agent had been dishonest with saying that for me to be able to pay the initial 11k by installment, I had to go to Banco De Oro (BDO) to discuss this with them. And that I did! Unfortunately, BDO told me that it were up to PPLIC to debit or credit it in installment basis. 

RUN FOR YOUR LIVES!!! ENTER AND YOU ARE DOOMED!
Before the 15 days were up, I went back to Philippine Prudential Life Insurance Company, Inc. (PPLIC) to express my dismay with this news. They even had me talk to their branch manager. For someone who values their customer's money, I was pretty much surprised when he mentioned that I would not have to worry about the finance charge as it won't be too high. Eventually, I decided to push through with it given the assurance from the manager that Banco De Oro's (BDO) finance charge and my total credit were easily payable. It turned out to be 300php- add that to the 3.2% interest they add to your credit card bill.

We were having financial issues so I decided to terminate my plan. My last payment was last January 15 and I decided to pay my February 15 due by March since they had a grace period of 30 days. But then, I also realized that I would not need to pay my February 15 due for me to be able to terminate my plan since according to my policy, I was still within the grace period.

I further confirmed this with the agent and she told me that this would be true. So, supposedly the prorated cash value of my total payment for my plan would be 10,276 php (out of the 35,595 php I had paid them). And I were to receive this within 30-45 days. This contract was signed last March 8, I went back there today- April 25.

Surprisingly, I was not shocked that they have not yet received the payout for my plan. The representative who helped me when I made my request told me that it wasn't there yet. So I asked them to provide me an exact time. They apologized and promised me that they would make sure to call the management based in Manila daily to expedite the process.

But this wasn't the worst yet. When they showed me the cash value I was to receive, it only amounted to 9453++. Apparently Philippine Prudential Life Insurance Company, Inc. (PPLIC) wasn't done with stealing their customer's money. They provided me a prorated cash value that had a premium terminated in March! And then, they decided to make February a mispayment and deduct 1,610 more from that cash value!
It was pretty frustrating because the representative I talked to assured me that if ever my plan were to be terminated and given a cash value, it won't go lower than 10,000. And now, she took that back saying that it would be more or less 10,270++ and could possibly go lower than 10k since I did stop during January and that was the estimated computation.

Fortunately, my partner was there to inform her that he also heard the same thing from her. I told her that she assured me that my plan was already terminated last January. But now I see their computation showing that they've decided to extend my plan til March without my consent charging me an extra 1,610 from their March prorated cash value. Seriously, you don't get any lower and greedier than this!

She kept telling us that the computation was from the main office and she couldn't do anything about it. So I told her to send me someone who can. Their supervisor talked to us but the underlying problem was we were assured by the representative that the February due will no longer be charged to us. Speaking of changing the issue, this supervisor even mentioned that supposedly, payments were to be done on the 7th. Well, that's her problem because my contract have specifically mentioned that my dues are to be paid on the 15th. So the manager sent the representative back.

She tried to convince us that the grace period was only for lapse payments but I distinctly recall that there was such a clause in their policy that a plan can be terminated as long as you are still within the grace period. 

And fortunately I had read all their policies a number of times so I was able to insist on my points. Moreover,my partner had been strict, diplomatic and calm enough to finally convince her that there was no budging us.

She went back into the office and came out a little later with a defeated look. She now assured us that we are to expect 10,000 from Philippine Prudential Life Insurance Company, Inc. (PPLIC) next week before Friday.
Finally, the  Philippine Prudential Life Insurance Company, Inc. (PPLIC) battle, for us, has ended. I can't stop imagining the almost teary-eyed representative who probably got her salary deducted because of us.

Moral of the story: If you are a potential customer, stay away from those freebies. They are practically a pitfall with an extremely high price tag.

If you are working for PPLIC, RUN FOR YOUR LIVES! Don't simply rely on the company's higher management. It sucks and they will unreasonably charge every single plan holder as much as they could making their agents suffer the consequences. I bet they've even secretly paid for employee insurances so they can cash in with their employee deaths (just like Walmart).

posted from Bloggeroid

EDIT: Just an update of the check I received from PPLIC. So, I finally got my 10,000 php back but it was in the form of a check amounting to 9,453+  (or somewhere between the lines) and some coins and bills exacting to 10,000 pesos. I'm pretty sure the agent had to take some out of her pocket to pay me the 10,000 php she promised us.

10/23/13 UPDATE: I posted a new article on why consumers have to stay away from Philippine Prudential Life Inc. Co. PPLIC. Please visit it and take a look.

250 comments:

  1. hi you should post your experience in the other blogs about this company deceptive marketing style. sobrang dami na nila napapasubo. your experience with them can help the other guys go through their horrible experience with them. marami kang maasist and hopefully prevent na mapasubo. thanks

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    1. Thank you po. I was lucky to have found the time to write this post. I truly hope reading my experience has helped someone.

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    2. sayang ngayon ko lng ito nabasa.. sana mababawi ko pa ang initial deposit ko na 16+K..nakaka dpress tlaga. bkit my mga taong mapagsamantala mapabuti lamang ang kanilang mga sarili.. God Help Us.

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    3. I got an endowment plan with them and I was really trying to discontinue my account kaya lang po nanghihinayang talga ko sa 60-70% na masasayang since i became a member last Feb.2012

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  2. thanks for posting your experience in the other blogsites. i am sure your experience would prevent them from getting into trouble with pplic. please continue to do so for the sake of all the mall goers that are supposed to be there to relax and have fun but instead are being lured to their offices to experience what we just did. lets call the attention of SEC to check if what they are doing conform to practices of insurance companies. also if they are liquid enough to pay their promises. thanks

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    1. Thank you for saying this. I have always felt stupid for making such a mistake in my life but I told myself that maybe the interest will be worth the wait. Then I saw how the "upper management" will try to siphon each and every single penny of the cash value you're supposed to receive for the account's termination.

      I sometimes wish to blame the people working in PPLIC but I keep wondering if they are partially pressured to use these tactics by the company itself.

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  3. Thanks for this post. I just want to share one of my maddest experience to them. Lately, i was in sm southmall with my friends hanging out and waiting for our screen schedule of one cinema there. Then this agent named, "MJ" simply took our minute regarding their raffle and convincing promos! she said that this would only take a minute and just to write our name to the raffle coupon!. we're so amazed! because of the promos and prizes to be won without any money involved for just listening to their advertisement and company background. So, they requested a "standard time of 45mins." for us to listen. Actually, i told my friend not to join and it only offers you an "INSURANCE". Then, my friend told me that we still have 1 hour left for us and just to pay respect of those agents talked to us!. So i've accepted! i told them that in case, there is no "SAPILITAN" for the decisions we will make after this little talkings!. Then after 45 mins, and explaining the companies goal and plan "KUNO" finally, it gets to the point of this agents keeps on pushing me to release money a worth of 18k++ or a minimum of 6k just to avail their plan.! then i told them, "i was very thankful because of those convincing explanations and offers but i still decided not to avail ANY of your plans." i think they didn't want me to go! so they told me to wait to call my name outside for "PROPER EXIT" (Meh! GANON!). then there is a gay and women agents still fighting for their explanations and keep me pushing to release money to avail of those plans!. then i repeat it all over again!. P.I.! 1hr and 30mins na ayaw pa din ako palabasin dahil nga potential costumer daw nila ako!. then i texted my friend to ask people outside to request for my PROPER EXIT!.ansabi ko, "sir and ma'am! please late na kami sa movie na panonoodin namin and di ba sinabi ko na sa inyo na walang sapilitan kung ano man ang desisyon!. Please! nirerespeto ko po kayo. sana respetuhin nyo din ang desisyon ko!". then, i received a text to my friend saying, "WaLA NA DAW SILANG MAGAGAWA SA LABAS KUNG AYAW KA NILA PALABASIN". Then eto na! naginit na ulo ko at sumigaw na ako!, "GANITO BA KAYONG MGA TAO DITO! HINDI NYO PINAPALABAS ANG CLIENT NYO hanggat di nyo nakkuha ang gusto nyo! SINABI KO NANG AYAW KO! WAG NYO AKO PILITIN! SOBRA NA KAYO MANGHARASS!" then i walked out!... ISA lang po ang gusto ko mangyari sa post ko na to, PPLIC! pls train your agents in sm southmall on how to do exact selling! hindi yung kinukulong nyo sa loob nang room hanggat di nagaavail nang plans nyo! and please learn how to respect your clients' decision!!!

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    1. You go, The One!

      During the time we discussed the termination of my plan with one of the agents, someone approached us and asked if we terminated it. I said yes in a heartbeat. Once outside, we talked about how he felt tricked and manipulated as well. Luckily for him, it wasn't too late to cancel yet.

      That's weird. I'm sure you had another reply and I read it. I'm wondering why you deleted it. I think you have the right to complain to the management but the problem is no matter the number of people going in and out their office complaining about these schemes, they just turn a deaf ear and a blind eye to it.

      Someday, I'm sure they'll get a taste of their own medicine.

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  5. If i may suggest you should file your complaint to the office of the insurance commissioner. Google mo yung website nila. They should have a complaints division. These company should be given a stern warning for placing a potential customer in a situation as you described it. thanks for sharing your experience. I will share the info to all my relatives and friends.GOD BLESS

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    1. That's a good idea. Thank you for sharing this information. I had no idea there was such an office. It will certainly help readers who visit this blog and talk about PPLIC.

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  6. i am a newly victim of this scam, just yesterday..they hookED me while i was walking in front of their shit office at 5th floor SM Megamall.i was in hurry but someone caught me that i can avail the gift pillow and thumbler.wala daw pong bayad.free lng..so me, i was innocent enough to give them my time..i feel so stupid now.bakit kailangan may mga ganun.i gave them my credit card and they deucted from it worth 14,000…i also signed the said contracts etchetera..PLS IS THEIR ANYBODY WHO CAN HELP ME TO TAKE MY MONEY BACK? OR WHAT ARE THE BEST THING TO DO..PLS PO HELP NU NMN PO AKO…AKO LNG KASI INAASAHAN NG FAMILY KO AT MAY PINAPAARAL PA AKONG KAPATID…

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    1. The good news is, since kahapon ka lang nagsign, you can cancel the plan as there is a grace period of 15 days or was it 30) for you to be able to cancel it. Nakalagay yan sa contract (the shiny paper) na binigay nila sa 'yo.

      Now remember, they may try different tactics to persuade you to not cancel, but be firm. Kahit na ipakausap pa nila sayu yung manager, don't budge. Inform them na kahit presidente pa yung ipapakausap nila sayo, your decision is final.

      Next, make sure you have a written letter from their agent kung when makukuha yung reimbursement mo- or when their charges will be cancelled.

      And as per my sister's advice, you might want to call your credit card company and ask them what else you can do to expedite the process of the cancellation of transaction. Hopefully, it doesn't take more than a month before you get their charges wiped from your credit card statement.

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    2. THANK YOU SO MUCH PO..SA IDEAS PO..IT REALLY MATTERS AND WILLL SURELY HELPS.DI PA PO KC AKO NKAKABALIK DON.MAMAYANG HAPON PUNTAHAN KO NA PO..SALAMAT PO ULIT NG MARAMI

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    3. No problem. We have to help each other sa mga ganitong cases because I don't want anybody else to fall victim to their manipulative schemes.

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    4. my God! kakasign ko lang kanina..pag kinuha ko ba money ko bukas i gave 13k+..buo ko pa din un makukuha?

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    5. KUNG AKO SAU HUAG MO NG ITULOY....HABAMBUHAY MONG PAGSISIHAN N KUMUHA KA NG POLICY MO S PHILIPPINE PRUDENTILA LIFE INSURANCE....

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  7. I was all up for the free drinks, freebie bag, and the entertainment as I watch their sales tactics fail in response to my replies. It was a fun learning experience. :) Everybody should give their one hour (it's really not just 45 mins) if they have time to spare. You'll learn what a really bad marketing scam is all about, and what tactics they employ. Just remember -- NEVER EVER EVER EVER EVER SIGN ANYTHING YOU HAVEN'T THOROUGHLY READ THROUGH AND UNDERSTOOD. I told them I'll take the documents home and come back the next day.. but they told me that it's a promo and I can't avail of the opportunity the next day or once I walk out of their doors. Haha!! That was the fishy end to the tale.

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    1. I think some are lucky to not have been harassed. Some of their agents are respectful enough to understand when they have to quit bothering people. However, there are others such as "The One" who was detained for more than an hour or Tramadol whose decision of asking her parents about it was questioned. That's just plain rude.

      When I came in PPLIC, I was already intent of getting their plan. I knew what I was going into. Unfortunately, I wasn't able to continue it due to financial reasons.My problem only started when they kept on delaying the check I was supposed to receive.

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  8. It’s sad na hanggang ngayon, nangyayari pa rin ang ganitong panloloko. Kahapon lang, sa Robinsons Place Ermita, na-ambush din ako ng agent ng PPLIC. Di naman ako bumili ng insurance plan nila pero nabother ako sa harassment na pinagdaanan ko. May dumating pang “senior” officer na siguro in an attampt to get me signing up with them, asked me why at my age, I still had to ask my parents their opinion about getting an insurance plan. Pinagmukha pa akong taong hindi maka-pagdecision on her own at kelangang umasa sa magulang!

    Dahil sa frustration ko na wala akong magagawa until sumikat ang araw the following day, gumawa tuloy ako ng Facebook Page entitled FIGHT PPLIC! https://www.facebook.com/fightpplic. Please check it out. By the way, I used your photo above in this page, with proper credits and links to this blog. Please inform me right away if you want it taken down

    I just called up the Insurance Commission (02-523-8461) this morning to complain against the PPLIC. What they told me was to have an affidavit made, then file the case against the company at a police station. I could also go to the Insurance Commission’s office to file a complaint there. It’s going to be quite a hassle having to go through these steps but I think that I’m going to push through with filing a complaint at the Insurance Commission’s office. But that would just be an administrative case, now, wouldn’t it? I don’t want to go to the police to file a criminal case but I will research on how I can file a civil case against them so that I can get some damages.

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    1. You should have told the officer that your decision should be respected and it's none of their business. Before I terminated my plan, the business manager (of some sort) also approached me. He was the one who assured me that the finance charge would only be minimal. What I disliked about them is that they lied when I asked them regarding the monthly installment. They said it was possible and all I had to do was arrange it with the bank ( when the bank said that it depended on the company)

      I admire your determination (or even the anger) in creating this page. It was quite extensive and there were even some information I have not read before.

      Has anybody ever wondered why even though a lot of people have complained and that a lot of evidences are already out in the media such as video footage, we don't hear any cases built against them?

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    2. go lang tramadol. hay sana mabawi na ng lahat ng gusto mkabawi ang pera nila,, i just signed up yesterday,, i tried to call sa hotline nila, kaso walang makapagassure sakin na mababalik ko pera ko pag nagcancel ako,, sana lang mabawi ko pa pera ko,,, .. naawa lang naman kasi ako sa babaeng naghatak sakin kasi wala pa dw siyang nacoconvince sumama saknya that day at makakatulong dw un pangdagdag sa pambili ng gatas ng anak nya,, naisip ko na tulong ko narin kaya sumama ako,,, hindi ko naman akalain na hindi lang pala oras makoconsume ko, pati pera,,, hinahanap ko sa contract na pinirmahan ko ung policy na 15 days cancellation at return pero hndi ko makita,, hindi kasi endowment ung kinuha ko,,, pano to?? pano ko makukuha pera ko??

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    3. Tramadol... Manipulated po nila ng insurance commission .. f.y.i. Mr. Gregorio mercado is the president of pplic at the same time board of director of philippine life insurance association.. So iikot lng ung complaint mo laban sa pplic di ba?

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    4. Mga demonyo talaga yang mga yan... my cousin worked in their company for 6 months.. he decided to quit kasi nanloloko talaga daw sila ng tao at hindi nya na masikmura.. Magagalit mga boss magmumura pag may naka gamit nung plan, kelangan i swipe credit card ng sapilitan, kelangan wlang mag cancel ng plan.. hindi din sila nagbabayad ng tax, sss ng mga employee samantalang kaltas sa sweldo. Ultimo empleyado niloloko.. Lahat ng mga mercado sinusunog na sa impyerno

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  9. HI tramadol ayos yan tuluyan mo na sila para matigil ang ginagawa nila sa mga nag mamalling. nationwide na operations nila kawawa naman tao sa province. thanks

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  10. Hi, unfortunately, I've availed ther term insurance just this September 4,2012. I can still cancel it right???-- Could you suggest the best and easiest way to do it?--- The worst part was they've already have 3k from my ATM---=(
    I've already e-mail the e-mail add I've found amidst the docs. they've handed me, asking them if they could verify the accuracy of the Branch I've encountered at Mega Mall, Shaw Boulevard but there was no response..=( --- May I ask your opinion if it's best to gO back to that mall and talk to the same person who negotiated with me?? -- I'm just afraid I may not find him at that time-- thanks----

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    1. You probably will still find him talking to another potential customer. The problem with PPLIC is not their legitimacy because they are indeed legit. The problem is the extent their agents are going to just to convince people- they've used delaying tactics, manipulative schemes and persuasions that can make anybody feel harassed or insulted.

      As I've said in a previous reply. Yes, you can terminate it since you're still within the 15-day grace period. Before you go there, be armed with the knowledge of their policy because they will try to convince you(even lie to you) just so you continue with the plan. But don't budge. Be firm and tell them your decision is final and you expect them to respect it.

      Good luck. Remember, be firm. You are a customer and you have the right to cancel it without them questioning your decision since it is written in the policy that plan holders have a 15-day grace period in policy cancellation.

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    2. HI, this is the last person who blogged followed by your response.You see, I was and still am alarmed by all of the blogs,posts,articles & even media clips about this insurance company.I'm not really the type who would "go for it" because of some persuasive tactics or some sort.The problem was I've opted to fall into the bait because I'm also interested in saving my money in a long term basis (securely) without worrying I would be triggered to spend it every now and then for emergency purposes because my money is not in my hand nga naman. Moreover, It comes in a two-purposed act, one is investing and saving for your own future and two is doing the same and securing your family's needs.You see,I'm still new in the city. I arrived at manila last february and started working last march,2012.
      I remembered the XXX operation posted in telivision but I guess I wasn't really paying much attention that time not until now when I happened to browse on it again..
      You already said it is really legitimate.. yet it is much better to cancel it if I shall base in all of their bad feedbacks.--- I'm certain having a life insurance term policy but I guess I'ts not yet time for me to do that until I'm much knowledgeable 'bout getting one...
      Anyway, with regards with the 15-day grace period, am I supposed to have that on hand with all those other docs. they've given me poh??-- kc-- ala poh akong nakita ehh---
      What I read was "eight(8) calendar days of choosing to change your policy status before premium is billed..."(not the exact word though).

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    3. I had the same intention as you. In fact, my sister had her plan from Berkeley (they claimed as their affiliate company) mature already. So I also wanted to start early. It's not that they tricked me or anything. It's just that they gave me a hard time in claiming the cash value of my plan when I wanted to have it terminated.

      Yes. Unfortunately, legitimacy isn't an assurance of their credibility or their trustworthiness.

      The 15-day grace period should be in their policy. That's the one in white shiny pages. If that's what you've read, they've probably changed it so as to discourage plan holders to terminate it after a shorter period (which is down right dirty).

      Either way, if you plan to terminate it, please do so soon. Time is running out if this 8 calendar days is their new time frame for cancellation.

      I was hoping to check out their new policy but that's probably too much to ask.

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    4. aw,, im also trying to look for that white shiny page,,, i cannot see that one,, im planning to opt out and get a refund also from this shit,, what they only handed me over is the conversion privileges,, nothing stated about refund and cancellation,,, im already frustrated on how can i get my money back,, i already spent 3k for this,, it's not alot but that's what i only have. ,,, please help me, what should i do??

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    5. Yun po yung glossy na paper na parang 10-15 pages kung saan nakalagay yung grace period,insurance coverage etc. Dati yun yung binibigay nila na may glossy folder and large white envelope.

      Conversion pages? Yun ba yung cash value?

      Did you get the endowment plan? The best way na talaga is to go there nalang and inquire about it.

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  11. IF THIS COMPANY IS LEGIT, HOW COME THEY ALLOW THIS KIND OF SELLING TACTICS AS YOU HAVE SITED IN YOUR BLOG.PLEASE, LET US NOT FALTER IN OUR BLOGGING ABOUT THIS COMPANY FOR THE GOOD OF OUR KABABAYAN. AT LEAST, MAY MAKIKITA SILANG WARNING ABOUT THIS COMPANY. HUWAG NA NATING DAGDAGAN PA ANG MGA TAONG NALOKO NILA. TAMA NANG TAYO NA LANG.LIKE A SLOGAN IN A TV CHANNEL, AKO ANG SIMULA NG PAGBABAGO...PAGBABAGO PARA WALA NA SILANG MALOKO. LET US ALL MAKE A COMPLAIN TO THE OFFICE OF THE INSURANCE COMMISSION PARA MATIGILAN NA ANG LEGAL DAW NA PANGHOHOLDAP NA ITO.

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    1. I agree with you 100 percent. Their ways of obtaining clients are rude, manipulative and deceiving. It is unfortunate that they haven't been stopped by the Insurance Commission even though they've been exposed through multiple documentaries.

      I threatened them of pressing charges for such delay. Fortunately for me, they did expedite the termination of my plan so I had no reason to complain further.

      Pero this does not mean na yung mga binastos nila di na mag complain. I have noticed that the PPLIC experiences is a lot milder in the smaller cities such as Iloilo. The one in NCR sounds very aggressive.

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  12. may tama ka jan @ anonymous...

    I have a sister who is invited to take their exams and she passed, now after reading this blog here i must convince her not to be part of this company.

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    1. With all due respect naman sa situation nyo po, alam ko mahirap din maghanap ng trabaho. So if in case your sister will pursue working for them, just tell her to watch her back kasi di talaga sya ipoprotect ng management.

      We were forwarded to a person who had a higher position and she eventually gave up and had the original agent who talked to us come back. Kaya yung nadehado was that agent. I honestly pitied her because she had our best interests at heart. I asked her if I understood the policy correctly and she said yes. Pero the management was too selfish na kahit nakalagay na sa policy nila, gusto pa nilang pagdamutan yung cash value.

      So the agent was forced to take a couple of hundreds from her salary just to pay for what she had understood was also the correct translation of the policy.

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  13. Is there a chance to refund my initial payment made even if the grace period of 15 days was lapsed? pls. comment from someone whose able to refund related with the same situation.

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    1. Since nobody has commented about this, then I'll just explain what they told me when I asked them what'd happen if I terminated the plan more than 15 days later and in less than a year.

      As you could see in your plan, the cash value is only listed after one year of continuous payment. This means that you will only get the cash value after such (which is pure BS, if you ask me). You might want to go to where you've opened your plan and ask them about this.

      Bring a recorder, ask your questions and record their conversations. Then, if they don't budge, look for a lawyer and seek legal advice on this matter. There may be loopholes in their explanation to you that could help you in retrieving your money. However, expect that you won't be getting the entire amount. Act fast.

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  14. Oh no. I just payed 6k this afternoon for the initial payment. Has anyone been able to get a refund after cancelling his plan? Thanks.

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    1. It's not too late. Just go to their office and have your plan cancelled. Don't budge even when they have their managers and supervisors talk to you.

      Although, I'm not sure how long it will take for the money to be refunded, but as long as you get it cancelled before the grace period (which I've heard recently is now 8 days compared to 15 back when I got my plan), you'll be able to cancel it.

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  15. Hello po. Two weeks ago that was September Sunday. Ganito din yung nangyari sakin at ang ipinagkaiba lang nung day na yun na swipe yung card ko for 6K then the same day pina void ko yung transaction kasi all of a sudden I've changed my mind, wala akong pinirmahang policy sa kanila that day except yung auto debit na papel pero di ko naman nilagay yung card number ko so ayun hawak ko yung 2 transaction slip and one of those eh yung voided slip and until now hindi pa rin sya bumabalik sa limit ng card ko, kararating ko lang from a business trip kaya ngayon ko lang ito napansin. Ano ba pwde kong gawin para mabalik yung 6k ko sa card? Salamat ng marami

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    1. This is surprising. Nacancel na yung transaction slip at navoid pero di pa bumalik yung money? Anyway, as most transactions go with PPLIC, the wait is 30-45 days.

      You could always drop by their office and demand it to be expedited since you did not sign the policy but they were still able to charge you with 6k.

      You could also go to the bank and ask them regarding the voided transaction and why it hasn't gone back to your account. Also, ask them what are the necessary documents you need for you to submit to be able to make this faster.

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    2. By the way, my sister mentioned that you should call your credit card company since you have the void slip. Malamang yung nagpapatagal lang dyan daw is sa credit card and all it might need is a call to them para mafollow up yung na void na transation. Also, to confirm that the transaction was in fact voided and nacancell nga sya.

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  16. I just encountered this last night in SM North Annex, and unfortunately, they were able to convince me to avail of the plan.

    I was on my way to Annex when I was approached by one of the promo guys. My intentions were really good as I just wanted to help him. I fell into his acting skills. He did not give me any hint that their going to offer me this endowment plan. I only learned about it when I was already inside their office located at the ground floor of SM Annex, besides Mang Inasal. I was introduced to my personal presentor who did the very deceiving and annoying salestalk. I told him for the nth time that I'm not interested on availing of any insurance plans but he keep on insisting that I was not different with anyone in the room. He used different tactics to the point that I'm getting quite pissed as he kept on insisting even customizing the plan depending on the argument I'm raising. It was already quarter to 11 when I decided to avail of the endowment as I really wanted to go home. The worse part is I'm alone and I was the only customer left in the room. Then there, I swiped my ATM and 23,107 was automatically deducted in my account, and I went through the whole process unhappily.

    On my way home, I was really bothered so the minute I got home, I reviewed the contract carefully as I was not given that enough time while in their office. I also did some research and thankful that I site like this one.

    Early this morning I went to their office with my mom. I have the cancellation letter together with the documents which I also photocopied. I firmly showed that I wanted to cancel the plan and did not show any interest in all their whatsoever salestalk again. I talked to their sales manager named SAM CRUZ who seems nice at the start but showed his true color later on as I seem not interested on what he's saying. There were a couple of times that I got really pissed and I started raising my voice. Nakakaiyak sa inis kasi sobrang kulet nya! Good this my mom was with me. He even tried to use my mom to convince me but my mom is completely on my side. I was amazed how expert this SAM as he even told us he's not afraid of whatever we might do and he doesn't care even if we make a scene outside and even if we go to SM Admin.

    After almost an hour, they gave up but doesn't stop pissing me. As SAM asked me to make another cancellation letter as he's not convince with my reason of cancellation. It's indicated in the policy contract that I can cancel within the 15 days grace period for any dissatisfaction. I'm cancelling in less than 24 hours and he's even dictating me what dissatisfaction means, which pissed me more! Ang taray taray nya na that time, nakikipagtarayan talaga sya saken. Sabi ko "hindi ako uuwi to make another one, hassle un! Lend me your computer and i'll make one!". Ang ending, naghandwritten ako ng letter. Gusto nya ilagay ko na nabasa ko daw sa internet kaya ako nagkacancel which is not the exact reason why I'm doing so. Syempre di ko sya sinunud. Then never ko na ulet sya nakita. Yung receptionist na lang pinaharap saken at sya yung nagprocess ng cancellation letter and statement of account as proof na cancelled na nga.

    Now they asked me to wait for 30-45 working days before I can get my money back. I kept on insisting that why so long if others got theirs in 2 weeks? Pero wala na ko nagawa, pumayag na din ako sa 30-45 working days. They even indicated that fact when it was signed by the receiver.

    Now here's the agony of waiting. Sana lang talaga ibalik nila yung pera ko kundi babalikan ko talaga sila at hindi lang scene ang gagawin ko! Irereklamo ko talaga sila kahit san pa kami umabot.

    I'm just turning 23 next week and first time ko mapasok sa ganito. Though admittedly, may fault din naman ako kasi pumayag ako in the first place. Pero hindi na talaga ako magiging mabait sa mga salesperson at promo agents na yan sa mall!

    ReplyDelete
    Replies
    1. First of all, advance happy birthday.Welcome to the world of responsible adulthood. I am glad you stood up firmly for your decision. I got my PPLIC when I was your age. I had high hopes for it and I was even willing to see it through 'til the end. Kaso nga lang, I had some financial issues and it was too much to keep up with the payment.

      Anyway, sorry you had to go through that. I feel furious na parang minaliit nya yung kakayahan mo and your intelligence. And either way, no matter what he says about not being convinced about your explanation, it's none of his business. Wala namang nakalagay na clause regarding the validity of one's reason to cancel. You should've taken a recorder or a video from your phone and ask him to repeat what he said. I'm sure he'll have second thoughts about saying it again.

      I know you're pissed pero wag kang mag istress ng sarili mo para sa kanila. It's not worth it. And in fairness naman, hindi naman sila lahat ganyan (that's the reason why pag di na nila kaya, manager na kagad pinapakausap kasi mas aggressive).

      Please come back to tell us kung makuha mo na yung refund or rebate. We would appreciate to know what your experience is, how long it took them to return the money and such.

      God bless po.

      Delete
    2. Thank you! yeah sure i'll post an update here as soon as I got my money back. Sana talaga makuha ko na soon kasi may paggagamitan talaga akong personal. Yun yung main reason kaya ako nagcancel.

      Nakakatrauma lang talaga ung experience. Pag naalala ko yung mga nangyari di pa rin ako makapaniwana how i got into that situation. Kahit yung sister ko nashock kasi i'm the last person she thinks na magpapadala sa ganun. Oh well charged to experience na lang as they say.

      Actually okay naman talaga sana yung endowment plan nila. Pero yung ganun kasi pinaghahandaan at pinag iisipan ng mabuti. Hindi sana sila namimilit kasi maslalong di nakikita ng customers ung "value" na pinagpipilitan nila. Instead, nakakaharass ang feeling. Yung promo agent nga na bading hindi makatingin sa akin when I went to the office. Naabutan ko sila nagbribriefing yata. Tinaguan nya talaga ako. Then nun pauwi na kami ng mom ko nakasalubung ko sya may kasama na namang customer. Samantalang sabi nya nya last day na daw ng promo nila nung Sunday. Haaay. Sana talaga di sila nagsisinungaling at nanloloko para lang magkacustomer.

      Anyways thanks ulet! Nagulat nga si Sam na baket ko daw alam ung process how to cancel and all. Sorry na lang sya may concerned people like you. Kaya thank you talaga! God bless din to you!

      Delete
  17. Thanks sa blog na to, I learned a lot of things.

    Nabiktima rin ako ng taktika nilang to kahapon, sa Robinsons Ortigas. Napadaan lang kami sa area nila e, then this person "Precious" ang nickname nya dun, tinawag lang ako, at first nag NO agad ako kasi feel ko baka kulitin lang ako mag credit card or something. Kaso pinangunahan ako nitong taong to na hindi naman daw ganun.

    Sali lang daw ako sa raffle nila blah blah blah, medyo kinakabahan pa ako kasi tinatanong kung may credit card, atm etc.
    Since nice naman tong taong to, kinausap ko naman.

    Napaka nice lahat ng tao dun at magaling talaga sila makipag salestalk.
    After filling out forms, sinamahan kami nitong si Precious sa office nila dun. Then after minutes of waiting, kinausap na kami nitong si "JC" daw. Ang dami dami niyang pnresent samin ng kasama ko, at mukha naman siyang nice, pero ang nakakaloka kapag tinatanong ko kung pwede pa ba mabawi yung pera kung sakaling magbago isip, pilit niyang sinasabi na ayaw nila i-set yung mind ng mga client nila yung pagccancel, ilang beses namin to na-brought up sa usapan until one time, nag whisper siya samin na "pwede ma-cancel" Siguro nakonsensya na din siya kahit paano.

    To cut the story short, ayun, hindi ko na rin alam ngayon kung bakit napapayag nila ako mag avail ng insurance na yun though super ayoko talaga ng mga ganun, at sobrang tumatanggi ako pag may nagaalok.
    At bakit ako pumayag kahit na sa buong paguusap eh medyo duda ako at gutom na gutom na.

    Nakakalungkot lang, bakit ganito yung paraan nila para maka-benta. Sino ba naman ang ayaw ng magandang buhay para sa pamilya? bakit kelangan yung kahinaan ng tao yung inaabuso nila kung meron naman maayos na pagbebenta.

    Anyway, pupunta ako ulit bukas sa office nila sa Robinsons Ortigas para ipa-cancel yung insurance na yun. Kahit na 6k ito at di hamak na mas malalaki ang nawala sa iba, sama pa rin sa pakiramdam na yung pinaghirapan mong pagtrabahuan, mawawala nlng kasi naniwala ka at naging nice ka lang sa mga taong to.
    Thanks sa blog na to at sa gumawa, nagkaron ako ng idea how to get back my money.
    Salamat at Godbless!

    ReplyDelete
    Replies
    1. Hi, same din nangyari sa akin yesterday sa SM Mega. Wla nmn tlga ako plano kumuha ng plan. Sobrang haba ng usapan, ang 45 mins na cnabi nila umabot ng mahigit 2 hrs. Sa tagal ng usapan nmin, may tumulong pa sa knya na isang agent para maconvince ako. Sabi nila ang banko ko nmn magdedecide if payagan nila ako kumuha ng plan. khit gano pa daw kalaki pera ko sa ATM kpag hindi pumayag ang banko wla din mangyayari.pro hindi ko alam kng bkt ako naconvince at ang ending naswipe ung ATM ko ang nabawasan ng 3k.

      Anyway thank u sa blog na ito, malaking tuloy sa ibang tao pra hindi na cla mabiktima. Sana lng itigil na nila ung modus nila, parepareho nmn tayong lahat nagtatrabaho pra sa future pro wag nmn sana manloko ng ibang tao.

      Sana mabalik ung pera ko, malaking bagay din un pra sa akin.

      Delete
    2. ako rin kahapon lang haiii... pupunta ako ng sm north ngayon.. ttignan ko kung mababalik pa pera ko.

      Delete
    3. You are welcome po. I had not expected that my post which was written out of frustration will end up helping others who have experienced something worse than what I have with them.

      Actually I am surprised na they are saying that when it gets cancelled, walang kasiguraduhan na mabalik yung pera. That's absurd because cancel nga yung tawag. Hindi naman termination. Eh yung SM nga nag iissue ng refund kahit sa 50 php na gamit as long as may resibo, sila pa kaya na 3k and above yung kine-credit or dine-debit.

      For those who opt out for cancellation, I truly hope that you get your money back. If it helps, you might want to drop by Mr. Arpee Lazaro's blog for more information.

      Delete
  18. please help po. im 20 yrs old. nagttrabaho at nagbayad ng 3k dito sa pplic. sana po matulungan nyo ako.

    wala po ako masyadong alam sa mga legal terms and conditions.


    hndi ko po tlga intensyon na magsignup sa insurance pero naisip ko lang kasi na kakailanganin ko rin balang araw dahil may sakit ako. at malaki ang gastos sa ospital.


    ayoko makabigat pa sa gastusin sa pamilya ko.
    nabasa ko ung mga unang comment. hinahanap ko ung puting papel about sa 15 days. and nasa akin lang ung within 8 days pwede macancel ito pero walang sinabi sa refundable siya. hindi ko tuloy alam kung makukuha ko pa ung pera ko. 3k lang un pero malaking bagay na un sakin.


    tumawag ako sa hotline pero hindi ako mabigyan ng kasiguraduhan ng representative na makukuha ko pa pera ko.


    sana po matulungan nyo ako. hindi endowment ung kinuha ko.

    ReplyDelete
    Replies
    1. Wla din akong alam sa mga legal terms eh pro magreresearch pa ako. and gagawa na din ako ng letter pra e cancel ang plan. nabiktima din ako khapon, 3k din nakuha sa akin.

      sana mabalik pera natin.

      Delete
    2. hai grabe, kinakabahan ako kasi wala akong nakita sa pinirmahan ko na pwede ang money back,, baka pumunta ko mya sm north or bukas para makapagcancel at refund,, dun kasi ako nahatak,, goodluck sating lahat,, balitaan ko kayo..

      Delete
    3. When in doubt, you can always inquire doon sa kanila. Advice ko lang pag nandun kayo try to have your conversation recorded para na sa ganun, if they insist and parang hindi kayo convinced sa sinasabi nila, you can seek legal advice. Kaysa naman bigyan kayo answer na parang alanganin kasi they know na walang authority or legal expert na nakikinig sa kanila.

      Delete
  19. Need help!! I got my insurance sa phil.pru last jan.2011... And now my total premium has reached already 55k.. Paano ko makukuha to.. The downpayment and my 1st year thru credit car here sa kuwait.. The rest was thru western union ma pnadala ko monthly from kuwait kc nacancel ma credit card ko.. Mkukuha ko pa ba lahat to???????? Pls help po...advice or anything..

    ReplyDelete
    Replies
    1. Hello po. Tanong ko lang, are you unable to pay it na?

      Unfortunately, you can't get back your entire premium. As you've read in my post, my cash value was only 1/3 of the premium I paid so expect that if you will be terminating now, your premium will have that same cash value (approximately 1/3). If you still have your policy, you will be able to read it there kung magkano ang cash value for the 1st-2nd year (prorated kasi ang computation nila). It also took them more than 45 days to take care of my termination so you may katagalan talaga.

      Delete
  20. I Had a sleepless nights because of it. with good intention that i may save for the future, but then i realized that it wasn't worth it. hu.hu. they took my 16+k from my CC at SM CITY, ILOILO.that was Oct.5. the ff. day i returned to them to asked for my money.the manager told me that it was not that easy because it just like buying that you cannot returned it,you can only make some changes. gosh..i was so helpless at that time and i don't know what to do, because i was alone and i had no sleep the other night. until now i do cry, every time i remember that day that i was being fooled and because of what i have done. that was the only savings i have.hu.hu. until now i don't know what to do.. thank you that I've read this blog of yours. i already made up my mind that i should stop my payment in their company. it is of great help to me. thanks God that i've found this one. hope that many people could read this so they may not experienced what i've been through. God speed to all of us. God Knows What's Best for All of Us. WHAT AN EXPERIENCE!!!HINDI NA MAUULIT.HUWAG NA SANA DUMAMI PA ANG MGA VICTIMS.

    ReplyDelete
    Replies
    1. I had my sister read this story. I was surprised how you had to go through that and as if pinalabas nya pa na di mababalik yung pera mo. Is the manager the guy na moreno at chubby? Or did you talk to a female?

      The worst they could do is charge you a certain amount but not take all of your money. I hope binasa mo yung policy nila kasi nakalagay doon kung how long the grace period is (unless pinalitan na nila).

      Too bad tapos na yung grace period. Anyway, make sure to have your plan terminated officially (with documents). Call your credit card company and inform them that you have already terminated your plan so they could stop any future charges by the PPLIC to your account.

      It is indeed an unforgettable experience. Sa akin nga, lesson learned.

      Delete
  21. hi po.. Kahapon nabiktima nila ako>.naglalakad lg ako sa Rob Manila at may bibilhin lg sana tapos hinarangan me ng babae bibigyan dw me ng freebie tapos inakyat me nila sa taas ang purpose lg dw nito is to advertise their company.. Tapos sabi 45 minutes lg dw.Grabe 3 pm na kami natapos.. Kc di ko tlaga intention na kumuha nun sabi ko kc p[ag iisipan ko muna sabi nila TODAY lg dw yun.. Iyaw ko tlga iswipe ang card ko , antok na ko nun at gutom pa..Tapos napaka pursuasive tlaga nila.. Pinipilit tlga nila na ipaswipe ang card ko.. Yung kinuha ko na plan is yung sa 1 yr lg na 6k.. Mababwi ko pa ba yung 6 K ko ? Panu ko makukuha ulit? PLS HELP!

    ReplyDelete
    Replies
    1. Good day. I think it would be best to read this link kasi masdetailed yung pagkakaexplain ni Jonha how to have your plan cancelled.

      http://jonhappiness.blogspot.com/2010/07/philippine-prudential-life-insurance.html

      Delete
  22. Hi! I'm the one who posted last October 8. As promised, I'll be back to share an update.

    Good news for me! Yesterday I got my full refund, after just 12 working days. I really did not expect to receive it that early because the last time I called, which is last Friday, the customer service got quite pissed kasi i'm really makulit. I was calling them every week since I cancelled my policy, to follow up on the status of my refund. He insisted the 30-45 days policy but I also insisted that I need the money. He even told me to just call again at the end of the month to follow up. But I think I don't need to. :)

    SO for those cancelling their policy or those who wanted to cancel, it would be best to do it asap. Maximize the 15day grace period! I was able to cancel mine in less than 24 hours. Also, don't forget to follow up regularly. Because they are tracking the record of your follow ups. And I think it really helps speed up the process.

    Now I'm thinking of closing my current savings account just to be sure as PPLIC knows my account number and I signed an ADA. But when I went to BDO to get an advice, they told me that I have nothing to worry since the policy is cancelled already. They also told me that their not in anyway connected to PPLIC just like what their sales agents claim.

    In a way, I'm thankful for the experience because it thought me to be wiser, more patient and persistent. Next time na may lumapit saken na agent makakatikim sila! haha. Thank you again for this blog and god bless everyone!

    ReplyDelete
  23. Salamat naman at you were able to get a full refund. Your determination has paid off and I'm proud of you kahit di kita kilala.

    I truly appreciate the fact na bumalik ka at nainform mo kami that you were able to receive it in 12 working days. At least now, yung mga readers dito will be able to read a testimony of what they went through, what they did, and whether they were able to get back their refund.

    HUGS!!!

    ReplyDelete
  24. Bakit ngayon ko lang nabasa ito? :( I just got scammed today! So, maibabalik pa po ba nila yung 3,000 ko? Sayang din yon ah, dugo at pawis ipinuhunan ko doon ah. This must be a very big lesson to learn..

    ReplyDelete
  25. Hi, is it possible po kaya na i-withdraw ko na lang yung balance ko sa atm card ko and mag iiwan ng amount na below 3,000 taz after maturity date nung policy ko since 1yr lang naman eh, puede ko na ulit hulugan ng above 3,000 yung account ko. Is it possible po kaya? Your reply would be much appreciated. :)

    ReplyDelete
  26. Hi Joy. As much as I would love to answer your questions, I am unfamiliar with the 3000 plan. What most of the people have experienced here is the 11k endowment plan.

    Anyway, aside sa 3000 may monthly payment ka pa ba for the next couple of months or is it just 1 single charge tapos hihintayin mo na maturity nya?

    Next, I think your next option is to go back to PPLIC and inquire whether the plan can be cancelled since it hasn't been 24 hours pa naman. Yung sa 11k kasi na endowment plan, cancellation is an option. You could check the comment above yours kasi she had hers (or his) cancelled and her money reimbursed (pero hindi yun 3k na plan).

    After that, try to go to your bank and ask what you should do para mavoid yung transaction. They may not be able to void it as of now, but at least you'll have an idea of how to expedite the process.

    I hope this helps.

    ReplyDelete
  27. hi!now ko lang nabasa 'to. OMG!sobrang bilis nung pangyayari kahapon.di naman ako basta-basta naniniwala sa ganyan,ewan ko ba!kahapon talaga aun!na-victim din ako ng PPLIC sa Robinsons Galleria,napadaan lang kami ng friend ko afetr namin manood ng sine at di ako tinantanan nung agent.sabi skin 45 mins lang aun from 4pm til 6pm na ko nakalabas.nakuha skin 8,200 sa savings ko.dati pag sinabi ko na ayoko!ayoko!firm ako sa ganyan.1st time kahapon na-convince talaga ko.Pupunta ulit ako ng Robinsons Galleria today para mag file ng cancellation.Ask ko lang panu ma-rerefund ung pera?pinag-ipunan ko pa naman un. :( after nito anu pa pwede kong gawin?Please help me.thanks in advance!

    ReplyDelete
    Replies
    1. Hi, please read this comment for the normal cancellation procedure.

      As for the results naman, here's another comment

      Delete
  28. It was horrible to find out na hanggang ngayon marami pa rin palang biktima itong PPLIC. My friend was almost a victim of this maybe 5-6 years ago when their name was still Berkeley and I even have to make a scene in their office in Megamall just so that my friend could go out. And just today, my gf's cousin received a text from this company saying they won an insurance an a free scholarship from datamex, which even resulted to the agent calling on their landline even though she hasn't given the agent their landline. The agent talked about this company and told her that the only valid ID's that they are accepting to claim the prizes are either ATM or Credit Card only. In the end, they had an argument because my gf insisted on questioning the validity of their freebies and the rude agent even threatened my gf that he/she will sue them. I was surprised that they are still out there and have even improved their way of tricking people.

    I am an insurance professional for almost 10 years now and with my love for this industry, I have elevated my status from being an employee to being an Insurance Agent. Knowing that a lot of people has been tricked by this Insurance company and has lost their faith in the Insurance Industry deeply saddens me. My advise is to think before you act and research for the company profile before entering in an contract/policy. There are a lot of Legitimate and well established Insurance companies out there who are not resorting to tactics like PPLIC does and has a better plan and yield that they have. To those who have not yet encountered them, I hope you have been warned enough about this company.

    ReplyDelete
    Replies
    1. Wow, did the agent really threaten to sue your girlfriend? I doubt that's even possible! Sue her for what- for insisting her point and not accepting their untrustworthy statements? I am appalled by the fact that some of them use dirty tactics and insults to intimidate others.

      "My advise is to think before you act and research for the company profile before entering in an contract/policy. There are a lot of Legitimate and well established Insurance companies out there who are not resorting to tactics like PPLIC does and has a better plan and yield that they have. To those who have not yet encountered them, I hope you have been warned enough about this company."- 100% Agree.

      Delete
  29. I have a very big problem. I have already cancelled my plan and i have my cancellation letter dated July 18, 2012. I have waited and waited and yet the amount that i've been waiting for still hasn't been credited back to my account (ATM). I followed up with the contact number that was indicated on my cancellation letter, twice during the month of September and October and what they repeatedly told was that they have already followed up the 6k refund with my bank. I have called my bank to ask and check if there was 6k that was deposited to my account and the answer was none. So it has already been three months and still there is no 6k that was refunded to my account. I am really frustrated and really desperate to get my money back. DO you guys have any suggestion as to what actions i could make to get my refund.

    ReplyDelete
    Replies
    1. Kill them bitches from PPLIC. That's my suggestion

      Delete
    2. Not yet? Did they sign your cancellation letter na they have received it? Did you get a new Statement of Account saying your premium was terminated? What did they inform you regarding sa cancellation? Will it be refunded daw?

      If sa lahat ng Yes or No questions Yes ang sagot, then pumunta ka sa office nila to do a follow up. Then kulitin mo sila ng kulitin kahit na kailangan pang araw arawin sila. Refer to this comment above.

      P.S. to second Anon. Wag naman. Tao pa rin naman sila kahit na yung iba talo pa ang hayop sa ugali.

      Delete
  30. This really is an eye-opener for everyone..I am an OFW po here in Saudi Arabia. I just came back here from vacation there in the Philippines and unfortunately was victimized by these agents of PPLIC. Ang kinuha ko pong plan is yung 7 years to pay na endowment plan. I paid the initial premium of 23k..waaaah I really can't believe na pumayag ako sa ganun..this was last October 18. Now, I am planning to cancel my plan. Ipapadala ko yung mga documents ko including yung cancelation letter ko to my boyfriend. and he will be the one na maglalakad nun. Pupwede pa po kayang marefund ko yung pera ko? and one more thing, yung ATM po kasi na ginamit ko nung niswipe is not named to me. It's in my mother's name. so ang mode of payment na nilagay nila is STATEMENT. at binigyan nila ako ng payment detatils:Subcriber's Account Number para yun daw po gamitin ko pag magbabayad ako thru BDO for my monthly premium. kapag ganun po ba ang case, posibleng magkaltas pa rin sila doon sa ginamit ko na ATM? i am so confused kasi yun ang ginagamit ko na account to remit to my family there in the Philippines. baka kapag nagdeposit ako doon eh masayang lang yung pera kasi nagkakaltas pala ang PPLIC na hindi ko nalalaman. please help po..thank you in advance para sa mga advices.

    ReplyDelete
    Replies
    1. Sorry for replying so late. I was swamped with offline work so di ako kagad nakapagreply. Anyway, back sa question mo, unfortunately, hindi mo na makukuha yung buong binayad mo. Remember when they were talking about cash value, malapit lang dun yung value na makukuha mong reimbursement.

      Once naman na naterminate mo yung plan, your mom could submit the Statement of Account na may nakalagay na cancelled na yung endowment plan mo. Actually, di naman sila pwedeng magcharge kapag wala na yung plan kasi illegal na yan (and so far wala pa naman akong narinig na gumawa sila ng ganyan).

      Hindi naman totally sayang yung pera mo. Business-wise, my returns naman yung PPLIC kaso nga lang masyadong mababa yung kita sa mga plans nila which is why parang hindi sya worth it. Ang maturity period pa naman is 15 years, right?

      Read mo nalang kay Anon na remark.

      Delete
  31. wOW BAKIT GANUN MGA TAONG ITO. SANA MAAYOS MO REFUND ASAP. ITS ALL OVER SA MGA BLOGSITES ANG DAMI NA YATA NAPASUBO SA SELLING STYLE NILA. IF I MAY SUGGEST NEXT TIME WE INTEND TO INVEST IN A LIFE INSURANCE PLAN MAG GOOGLE MUNA TAYO AND CHECK THEIR FINANCIAL STATUS AND EARNINGS WITH THE INSURANCE COMMISSIONERS OFFICE. MABUTI NA SURE BAKA LEGITE NGA ANG COMPANY PERO MAHINA NAMAN INVESTMENT RETURN. DUN NA TAYO SA MAS MAAYOS. i THINK THE NUMBERS THEY SUBMIT SA INSURANCE COMMISSSION EH TOTOO NAMAN. GOOD LUCK

    ReplyDelete
    Replies
    1. Highlight ko lang ang remark na to

      "BAKA LEGITE NGA ANG COMPANY PERO MAHINA NAMAN INVESTMENT RETURN. DUN NA TAYO SA MAS MAAYOS."

      Delete
  32. I am also a victim/plan-holder ng PPLIC, and I have the endowment plan which I got early last year. Same story, just me and my gf taking a very nice stroll along SM Megamall - the rest is what you know happened. Bakasyon lang ako nun since OFW ako and my research came in late for the cancellation (more than 15 days), and me not wanting them to take my money, I decided to continue. I learned that they are indeed legitimate and there are no problems on the claim itself other than the usual delays (point is makukuha mo talaga pera mo based on historical data) but compared to other offers (I have Sunlife and Prudential Life endowment plans also), mas mababa ung returns nila. Another thing to note is, pag plan holder ka na (mine is sort of an investment plan), maya't maya ka nila kukulitin about other plans they have (medical insurance, life insurance, etc.) which kahit ayaw mo na eh maya't maya pa rin ang tawag which is nakakairita most of the time. Anyway, I let this one pass since in a painstaking way, it guided me in dealing with these kind of investments. Moral of the story for me, NEVER decide on an investment within minutes of being introduced to it. Give it a lot of thought and research. Di mawawala ung ganyang offers ng investment so take your time to familiarize before you jump into it.

    ReplyDelete
    Replies
    1. Highlight ko lang ulit...

      "I learned that they are indeed legitimate and there are no problems on the claim itself other than the usual delays (point is makukuha mo talaga pera mo based on historical data) but compared to other offers (I have Sunlife and Prudential Life endowment plans also), mas mababa ung returns nila."

      One more thing...

      "maya't maya ka nila kukulitin about other plans they have (medical insurance, life insurance, etc.) which kahit ayaw mo na eh maya't maya pa rin ang tawag which is nakakairita most of the time."

      which I can attest to because I have experienced it myself. And they'll always say...

      Sige po, Maam/ Sir. Sa inyo naman po ang decision (power) na yan.

      Delete
  33. Ako rin po nabiktima last March 2012.Nakakuha po nila 27K plus at ang first payment ko po sana this November 1 2012. Kaso tumawag sa akin ang agent ng PPLIC na hindi daw pumasok ang payment kasi deninied daw BDO ang request nila.

    Ngayon nagdadalawang isip ako na ituloy kasi dahil na rin ra status ng work ko nagtatanggalan na ang company namin.

    Pwde pa kaya macancel ung plan ko? at makuha ko kaya ang initial deposit ko? please advise....

    ReplyDelete
    Replies
    1. Unfortunately, termination lang ang pwede. Which means na hindi nyo na po makukuha yung initial deposit nyo. Ieexplain kasi nila na insurance din yung plan mo which is why na may cash value sya.

      I haven't had experience about hearing people terminating their plans in less than a year so di ko sure kung may cash value na yung endowment plan mo.

      Masmabuti na sigurong pumunta ka nalang sa branch kung saan ka nagkuha ang ask them if magkano na yung cash value ng initial mo since you are planning to terminate your plan due to personal financial problems.

      Delete
    2. Salamt po sa advise... tiningnan ko po ang plan ko tama ka nga pwde siyang macancel pero walang cash value akong matatanggap.Binasa ko mga blogs at comments tungkol sa PPLIC mayroon negative mayroon din positive. Pero basi sa interview nila ta TV ok naman at nagkaroon nga daw siya ng award. Kaya sabi ko pwde naman siguro ituloy ko habang may pambayad pa ako. kung hanggang saan lang aabot na pwde pa akung maka pagbayad ng due ko...sana aabot ng 7 yrs pra makuha ko ang pera ko.
      Thank you po ulit:) and God bless us all!!!

      Delete
  34. magtatanong lang po kc tomorrow i will be going to their ofis to cancel the policy na nakuha ko just 2 days ago, do i have to wait para kunin ko ung statement of accounts w/c states "cancelled upon inception?" baka kc mabobola na nman ako, ano pa po ba ang dapat kung kunin o hihintayin tomorrow... at saka po pag hindi vah sila satisfied sa reason mo y i will cancel the policy, kelangan nilang mag demand ulit ng letter and states a valid reason for them to accept the cancellation of policy?
    maraming salamat po sa inyong tulong... Godbless you haopee!

    ReplyDelete
    Replies
    1. In my experience, yung SOA with the "cancelled upon inception" mark will be given upon their acceptance of your cancellation letter so don't forget to have that ready with you.

      Depende yan sa branch manager yung pag aaccept ng cancellation letter. If you click on the link above, you'll be able to read one of Anon's experience.

      Sa akin kasi, termination. And I read the policy beforehand so I was able to insist my point.

      Delete
    2. Salamat pala, Anon. God bless you too.

      Delete
  35. Hello po sa inyo, ako po ay tgaGensan. May bago po kasing SM mall dito sa Gensan City. Umaabot na po dito yung ginagawa ng PPLIC. Ako po ay isa sa napagkuhaanan nla ng pera kahapon lng November 16, 2012. Dahil sa galing nla mambola at sa kotseng kunwari promo nla, ay nkabigay po ako ng 12k na cash pra sa initial deposit pra sa savings. Instead na 33k plus yung hinihingi nlng initial deposit ay 12k lng po yung nkayanan kng ibigay. Ang tanung ko lng po nung ngbigay po ba kau ng initial deposit o anumang halaga sa PPLIC, Confirmation of Coverage at Official Receipt din ba ang nabigay sa inyu? Anu po ang maaari kng gawin para mabawi yung 12k na nabigay ko sa kanila? Sana po ay matulungan nyo po ako tungkol dito Haopee. Salamat and God bless..

    ReplyDelete
    Replies
    1. Hala. Sorry. Medyo naging busy ako during the time na nagcomment kayo. Birthday kasi yan ng pamangkin ko.

      Anyway, pasensya na po talaga. I'm hoping na kahit di kita nareplyan nabasa mo yung mga comments dyan sa taas kasi marami na akong details na nalagay dyan, pati yung link kung papano ko tinerminate yung plan ko.

      May ibang comments din sa taas tungkol sa pag cancel ng plan. I truly hope you were able to read it.

      Delete
    2. Ok lang po yun, nkapasa narin po akong ng Letter of Cancellation sa kanila after 2 days nung kumuha po ako ng Policy Plan sa kanila. Nakuha ko na rin po yong SOA (Cancelled from inception) na nkalagay. Babalikan ko na lang po daw yung refund ko after 30 to 45 days. Dalawang beses na rin akong pabalik-balik sa opis nla pero sabi ng officer incharge talagang mghihintay pa ako ng 30 to 45 days kasi sa Manila pa pinaprocess yung refund. Kya wla po akong magawa sa ngayun kundi mghintay nlng sa sinasabi nlng panahon. Mapopost nlng po ako ulit dito kapag nkuha ko na po yung refund ko.. Salamat po uli sa blog nyo. God bless. :)

      Delete
    3. God bless din po. I hope you get your refund before the 45th day.

      Delete
  36. Kahapon - November 24, 2012 - same happened on me at STar Mall, Shaw Blvd., Mandaluyong City - they approached me in a nice way but unluckily they insisting me to sign in the Auto-Debit Form to my Credit Card. Yes, they are really great marketers, but I refused to sign on the auto-debit form because decision making with money involved should not be done in just 45 minutes.

    ReplyDelete
    Replies
    1. I second the motion po.

      Sa akin naman kasi, I was dead set in getting their endowment plan kaya pumasok ako. Kaso nga lang nahirapan akong magkeep sa payment nung time na yun kaya tinerminate ko na.

      Delete
  37. Every decision that u will make plays a vital role in the upcoming future..mind u guys I hav nothing against u..but in today's fast paced and ever-changing world no one can tel wats goin to happen.no one can also help u wen time comes dt u r in nid.its better to be prepared than nothing at all..I'm not a fan of this company ang bolts q lng n Mali ung strategy nila..God bless us all..

    ReplyDelete
  38. Oh my! I took the savings plan in 2011 and has paid more than 100K already. I am out of the country and just got curious only now. At the back of my mind, something is telling me I had to check out any news of them on the net. My question now is, have they declared bankruptcy or not? Anyway, all these negative comments are making me decide to cancel my policy. I have to find out now how i can do this. I really hope hindi masayang ang pinagpawisan ko...

    ReplyDelete
    Replies
    1. Further research is needed po with regard to PPLIC. Pero hindi sila yung nagdeclare ng bankruptcy, kapalayaw lang nila. So far naman, parang okay naman finances nila... In fact, some plan holders have already received their matured cash outs. Yung nga lang, kahit nga yung kapatid ko na may plan sa Berkeley (their affiliate company or old sister company... hay confusing), mababa yung returns compared sa ibang endowment plans. You're better off investing in mutual funds sa bangko.

      Delete
    2. HINDI na po ok ung finances nila.. Ayon sa sources ko.. Higpit sinturon cla ngayon.. bawasan ng tao.. Ung ibang employee multitaskers na but same ang sweldo.. Nililiitan na ang office...affected din siguro sila ng prudential life bankruptcy issue

      Delete
  39. My mom got scammed by PPLIC as well. Binigay nya creditcard number nya and was unaware that she was signing an auto-debit form because of all the sweettalk on promos and benefits. She cancelled her card but not after charges from PPLIC have appeared in her statement. Sad to say, just hearing the steps you need to take to cancel would make you swear the whole time. hinde iri-reverse ng bank yung transaction because PPLIC will give them a copy of the signed form even if they know you're cancelling, so you will need to file stuff, talk to a lot of people, go to places. What's been done in 30-45 minutes takes 2-4 months to undo.

    ReplyDelete
    Replies
    1. Yes. Unfortunately, kung hindi mo sila kukulitin, they'll prolong your request so it's better to act immediately.

      If your mom still wants to cancel... refer to this comment

      I hope it helps.

      Delete
  40. Help po.. i just signed with them last Nov. 28, 2012. Taga-province po ako and I have no time to go back to manila coz I was just there for a convention. They got 6k out of my account and now I'm very confused and bothered. Mag-dededuct na po ba sila nung 1,610 sa account ko? Yung naka-pay po ng 6k sa inyo, medical insurance lang din po ba covered sa inyo? paki-explain po. Is it possible na sister ko yung papuntahin ko sa office nila para mag-terminate ng account?

    ReplyDelete
    Replies
    1. I am unsure kung pwede na ibang tao yung magcancel. Check mo sa province mo if there's a PPLIC there kasi masmalaki yung chances na makakatanggap ka ng sagot sa kanila.

      Ano ba coverage ng plan mo? Medical insurance lang talaga or endowment plan sya? Yes, I believe they will be deducting 1,610 sa credit card/debit card account number na binigay mo.

      If you prefer, try mo nalang muna tawag sa kanilang hotline.

      Delete
    2. Your plan is SSP which is Student Savings Plan. Yung 6k na binawas sau is the INITIAL DP which means yung araw lang n un xa kukunin at di na pwedeng sundan pa. Bale wala ka ng monthly kasi nakafixed na sya ng 1 year. ble pumapatak ng 7 pesos per day lang ang hinuhulog mo sknila. Sana lang kasi mejo pinakinggan mo yung sinasabi ng agent. INVESTMENTS = TAKING RISK

      Delete
  41. Hello!
    Last April 27, 2012 nakakuha din po ako ng Endowment Plan ng PPLIC sa Ketkai Cagayan de Oro. Yun nga same story, naengganyo ako sa kanilang mga freebies, promo/raffles...na-convince din ako sa sales talk nila atsaka wala rin kasing binibigay na insurance benefits ang kumpanyang tinatrabahuan ko nuon. Kaya ayun almost 20K ang na-charge sa credit card ko (13K initial deposit + 6K insurance). And since then ngbabayad ako ng P1,610 monthly premiums charged sa credit card ko. Gusto ko sanang ipa-cancel ang Endowment Plan ko kasi mas maganda ang insurance benefits na binibigay ng company kung saan ako connected ngayon...kumbaga doble2x na ang insurance ko at beneficiary rin ako sa insurance ng mga kapatid ko. Ang tanong: May makukuha pa ba akong refund? Atsaka magkano nalang kaya? Need ko lang din ng money for my schooling.

    ReplyDelete
    Replies
    1. If April 27, 2012 ka kumuha ng endowment plan, malamang hindi pa nag iisang year yung plan mo. Di ko lang sure kung meron ng cash value yun.

      Refer to this comment nalang tungkol sa experience ko when I terminated my plan. It's exact pero at least may tentative idea ka na sa estimates nung CV.

      Delete
  42. Isa din ako sa mga nakulet nyang PPLIC na yan ngaung araw lang dito sa SM SOUTHMALL pero sana don't think negative agad kung di pa naman natin alam kung ano tlga ung mngyayari. I have some links here that you can read and also will explain to you what you really do in your money..

    http://www.abs-cbnnews.com/global-filipino/06/23/12/investing-101-ofws


    I know some of you is not OFW but i think it is a good help to understand what is really meant for INVESTING...

    ReplyDelete
    Replies
    1. Agreed po. Kaya nga I've been highlighting and repeating some of the comments in this post kasi pakiramdam ko nobody is reading the entirety of it.

      Salamat sa link. It's important to hear both sides of the story.

      Delete
    2. Ang hirap lang po kasi satin eh masyadong natatakot mag invest ng pera.. Kahit ako nung pauwi galing ng mall kanina eh bigla akong ng search sa net at eto nga ang dinatnan ko. Mejo kinabahan ako then nag search din ako tungkol sa mga investments at un nga ang nakita ko . Siguro malilinawan na lahat ng mga nagIINvest satin tungkol sa mga insurance n yan . Maganda naman ung offer nila since ang masakit nga lang kasi eh ung INTIAL DP nila. AKo dapat kukuha ng 46k na DP pero kasi yung pera ko eh nka budget na for the next year so ang kinuha ko lang eh yung 6k na SSP pra iUUPgrade ko nalang.

      Delete
    3. Actually, merong phrase na inuulit yung PPLIC na agent na people should take seriously. I believe it goes this way, "Kung may extra po kayong pera" (which means spare na pwede nyong mainvest without compromising your budget- kasama na dapat dyan yung medical emergencies).

      I guess investing isn't yet something the masses are confident of doing. And I'd perfectly understand that kasi minsan may kagipitan talagang darating. And most investments are rendered untouchable until their maturity dates, so mahalaga talaga na maunderstand yung ganito.

      Yung di ko lang gusto is that some of these agents pressure people or subtlety challenge/ insult their money making decisions (as some of the comments on this post stated) para kumuha ng plan and I believe that a good company does not need to resort to these tactics in order to gain investors/plan holders. Most of the people complaining about them aren't fully aware of what they got themselves into.

      Good luck po sa investment ninyo. I started with an 8k plan to see how I'd do kaso I came across personal financial issues kaya yun, I had to terminate kahit na sayang na yung nasimulan ko.

      My issue with them began when I had to wait so long for my payout (a little over 45 days). And it worsened when they deducted another 1,610 from my final payout when I was assured that I won't be charged further because I terminated my plan before the grace period lapsed on the monthly payment. Dun na ako nadisappoint and nagalit. That's also the reason why this post is up.

      Delete
  43. I paid 500 cash sa agent. Para lang makauwi since ang kuleeeet nila. Protection plan chorva daw for a year. No swiping whatsoever of card but i signed aform. Is that legit? Will they be able to access my bank details and auto debit? Kinabahan naman ako.

    ReplyDelete
    Replies
    1. If you signed a form containing your debit/credit card number, it might be the one for auto-debit. Pero kung di naman naswipe yung card mo, then that may be a good sign.

      Anyway, you could always call your bank para makatulong sila sa pag assure na di ma auto debit yung account mo.

      Better yet, puntahan mo nalang yung PPLIC and ask what exactly the 500 php is for.

      Delete
  44. Hi po, . Naloko dn aq last august pa po. . 3K lng ung nakuha sa card q. . Is it possible po ba na marefund pa un?

    ReplyDelete
    Replies
    1. Not that I think of. Try mo tanungin si Jeffrey Abando as he seems to be familiar with the PPLIC plans. Baka he knows about termination before the first year.

      Try to call their hotline and ask para mas comprehensive yung information na makukuha mo. Good luck.

      Delete
  45. hi po.. just this afternoon na-biktima nila ako... ung card ko is e-prepaid which means kelangan muna hulugan ng pera bago ma-swipe.. nagkataon na 1K nalang laman ng card... they still swipe it pero lumabas na denied ung card kasi nga below na sa limit ng amount na 3K na gusto nilang kunin, after nun pinapirma ako ng paper something like auto debit... does this mean bah na once hulugan ko ung card ko either 3K or more than 3K, automatic na ma-deduct ung amount na nakalagay sa form na un? to avoid hassles of terminating whatever nung pinirmahan ko, is it possible kaya puntahan ko nalang ung bank mismo and have them closed the account and get a new one nalang?... parang ayoko na kasi bumalik sa office nila, kakapagod makinig baka i'll be spending another 45 minutes na naman just to settle this BS thing... please advise.. thanks sa inyo..

    ReplyDelete
    Replies
    1. Baka po. Kasi you signed the auto-debit which gives them authority to take money from it.

      Kayo po. You might want to try visiting their office to formally cancel the plan nalang. Please check this comment para may idea po kayo sa kailangan nyong documents for cancellation.

      Di ko kasi sure kung ano yung magiging issue sa huli kung icacancel mo lang yung debit card na naiswipe nila. Masmabuti talagang i-officially cancel yung plan nalang.

      Delete
  46. hello... sa akin ay yung SSP naman and it was a week ago. I failed to ask more questions since gutom na gutom na ako at gusto ko nang umuwi. Kagaya din po ba sa endowment, pwede pa macancel yun and possibly get a refund?

    ReplyDelete
    Replies
    1. Actually, di talaga ako familiar sa SSP.

      Sorry if kakareply ko lang. Medyo hectic kasi schedule ko this Christmas.

      The best way na talaga is puntahan mo yung office nila na malapit sa inyo to ask again about it. And expect na rin na they will be discouraging you to cancel your SSP. Pero if you've decided, drop by Jonhappiness' blog to learn how to process the cancellation/termination officially.

      Delete
  47. omg! I been a member and paying this company since 2007 and just read this now what to do?? I am currently living overseas...

    ReplyDelete
    Replies
    1. Please don't be too worried. As I've mentioned in some of the comments, they are legit. Yung scam na sinasabi ng mga posters is the way they "coerce" others to get their plans. Kahit na di na nga gusto ng tao, ipinagpipilitan pa nila. Sa akin naman, yung hindi ko gusto is yung katagalan nung pagreimburse nila ng termination value nya and the way they handled it-not the company's legitimacy.

      My sister is currently holding a plan with them and unfortunately, hindi pa nag mature yung plan nya so I can't say much about claiming it. But I can tell you one thing, yung company nila also has a group plan sa PPLIC.

      Delete
  48. hello po..tanong lng po anung paper ung nakasulat ung 15days? kc bnasa ko paguwi ko s bhay ung mga papers n bngay s aqn ala nmn dun...daym tlgah..wla aq s katnuan nung ngpirmahan kmi kanina bsta nlng kc cla ng latag ng mga papel n ffill up an khit sbhin n ayoko pipilit p dn..panu poh un...ang kinuha ko pla is ung labbs plan...which ung 3k initial dp.tnx..

    ReplyDelete
    Replies
    1. Kasama yan sa endowment plan especially kung yung binayaran mo was above 8k... sa akin kasi dati was 11k so meron silang pinadalang envelope na brown kung saan may kasamang parang glossy folder containing my premium plan payment and policy. Meron ka bang policy (it used to be made of a shiny paper with blue text written all over it). Dun yung 15 days nakalagay.

      Delete
  49. @charissa I'd experience the same knina lang din sa SM frview nun mismong time na yun plng gustong-gusto ko na bawiin ung pera ko mapilit lang tlga yun isang agent kasi na process na daw.. mamaya pag-bukas plng ng SM papa-cancel ko na ung lintek sa sapilitang insurance plan na yan..

    ReplyDelete
  50. I also got tricked by PPLIC last monday,I was about to go to my dentist at Medical Plaza then I remembered that I forgot to bring any I.D. with me so I won't be able to enter the bldg. So I've decided to go to SM Megamall for a walk and to watch a movie, it was around 3pm and and next schedule was at 5pm so I went for a walk and got to the 5th flr. As I was on my way to take the escalator, I was approached by a marketing rep telling me about their promo wherein I just need to sign up and play a game to get a chance of winning a new Honda Civic or a Bakasyon Grande, on the spot. Then he gave me that raffle ticket to sign and told me that before they could let me play the game for a chance of winning the car, I would need to show a valid I.D. or ATM Card/Credit card that has a balance of over 10k to make ensure them that I won't go selling the car if ever I win it and to hear a 45 minute talk about PPLIC. He asked me if I have a recent transaction receipt that shows the balance is indeed over 10k, I told him I have none. He volunteered to accompany me in doing a balance inquiry and so we did. While on they way to the ATM, he just kept on apologizing that he just needs to be persistent in having me join the promo because he'll get a commission and some 'points' if ever I win and that commission will be sent straight to his family in Cebu because he's the bread winner of the family. I also wanted to help him so I decided to give it a go. He assured me that it will only take 45 mins and there is nothing to in the office for me to pay. As soon as he said that there is no need to pay for anything, I knew that something is up.

    He introduced me to Donna, a consultant of PPLIC. She introduced the plans available and prices of each. She focused on the Endowment Plan. Interestingly, the plan is pretty attractive and looks to be a very good investment. She said for an initial payment of Php 36937 and a monthly contribution of Php 1610/mo good for 5 yrs, my money would grow to Php 175000 after 10 more years plus I'll be given benefits of Medical, Accidental, and even Death insurance, each with a Php 300k value. I was really up for it but felt sorry since what I have with my is only my payroll ATM card and they can’t charge me for the amount because It will go over the limit. Then the manager said she can arrange the initial payment to be Php 16937 but monthly contributions will be for 7 years instead of 5 years. I told them I don;t like it because it is not going to earn much interest so I might as well keep my money and invest it in a mutual fund. The manager kept on reiterating the benefits I would receive if I avail the plan with them which never can a bank provide. I was then persuaded. What’s the frustrating is they asked me to make cash withdrawal since their machine can only do 2 charge attempts. To me, it's not even the worst part. What's worst is after I gave them money in cold cash and filling out the forms, the customer relations officer went through a review of the plan to make sure I've understand everything about it. It turned out that the values of benefits that Donna was bragging about are all but plain deception. Benefits are all with just a value of Php 150k.

    I'm ok that the value of the benefits I will receive with the plan is just half of what I was informed of, really, but what I hate is the fact she had to make me feel like we were building rapport and she was gaining my trust during our discussion, then bam! I was left there losing my hard earned money, deceived, and fooled of what I thought to be a start of a good client-consultant relationship.

    I'm very thankful that I came across this site and learned that what PPLIC and its employees are doing is all but a scheme and deception. Now I'm determined to cancel the endowment plan I've signed for and get the refund while I'm still within the grace period. =)

    ReplyDelete
    Replies
    1. I detest these new ways... I can't believe he accompanied you to do a balance inquiry. It's border stalking and invasion of privacy.

      Good luck po. I haven't fully read the entire story because I'm packed with chores that I should have accomplished earlier pero I will certainly read it again and respond properly.

      Delete
  51. help pls. makukuha ko pa ba money ko if i have my term policy last end of november pa.pls i need your advice asap :)

    ReplyDelete
    Replies
    1. As I've said before, wala pa po akong experience with regard to endowment plans na di pa nakapagreach ng one year. Wala pa kasing nakapagmention kung ano yung result nung pagteterminate nila before the endowment plan reached a year old.

      Masmabuti po cgurong magpunta kayo sa PPLIC branch near you to have an idea. When I terminated my plan, the cash value was less than 1/3 of what I paid.

      Just in case you decide to terminate it, please refer to this comment.

      Delete
  52. hi good evening po sa lahat... i was really surprised reading all the comments in this blog, im also a victim of PPLIC, i signed up last jan 15. the moment i read the comments im now enlighten and i will make sure that the contract i signed up will be cancel ASAP. i havent read anything on the doc they gave me. thank you so much for sharing all your experiences.

    ReplyDelete
    Replies
    1. what's the update on this? nacancel mo ba? reply asap..salamat.

      Delete
  53. Hi good evening po sa lahat.... nagulat ako sa mga comment in this blog. upon reading the trend bigla ako kinabahan kasi same thing happend to me this evening (Jan 26,2013) sa may SM southmall po. At ako po ay naliwanagan dahil sa mga comment nyo. Thank you so much. could you please give me advise to cancel/terminate my account because I'm planning to terminate my endowment policy plan on monday. can I go and terminate my account to any branch of Philippine Prudential Life Insurance Company? Thank you so much

    ReplyDelete
    Replies
    1. Nacancel mo ba ung endowment policy? naibalik ba sau lahat ung pera? Salamat

      Delete
  54. Hello po. Please refer to this comment for termination procedures.

    Tapos, before you decide, please drop by Jonha's blog to read about PPLIC's legitimacy.

    Good luck in your decision.

    ReplyDelete
  55. Hello haopee. Thank You so much for your prompt reply.

    Is there anyone has a sample copy of Cancellation of Endowment Policy? can you please send it to my email ( deathXstriker13@yahoo.com ) thank you so much!

    ReplyDelete
    Replies
    1. Sorry.I had mine written sa office nila mismo. The agent I keep on mentioning in this post was the person who helped me accomplish it.

      Delete
  56. thanks po sa mga comment nyo po sana naloko nanaman ako.dis jan.29 2013 may lalake na lumapit sa amin bakla pa nga ata e na mananalo daw ng car at trip to macau good for 3 days.syempre excited kming magasawa at dinala kami sa office buti nlang ang asawa ko nakahalata na bkit laging tinatanong ang card at magkano ang laman nito bkit kailangn itanung pa un confidential na un at maraming tanung pa kaya nagtaka na kming magasawa pinauna ko asawa ko lumabas tapos nagpaalam ako na bukas nalng ako balik maasim pa ang mukha ng babae.kaya tinignan ko agad ang pplic na yan sa internet nakita ko ang mga blog ay buti nalang di ako nagoyo sana naulit nanaman ang katangahan ko.hehehheheheh thanks god thanks sa inyo ha.

    ReplyDelete
  57. Hello po. I am glad you were able to leave unscathed. Some of the readers here were unlucky.

    It is good that you got yourself informed before making a major financial decision. You're welcome po. God bless.

    ReplyDelete
  58. hello haopee, ask me ano ibig sbhin cash value? reply,tanx

    ReplyDelete
    Replies
    1. Yun po yung pera na makuluha nila incase they decide to terminate their plan on the designated time corresponding to the cv. Prorated po sya.

      Delete
  59. Nkakaalarma naman itong mga post nyo....kinabahan talaga ako nang mabasa ko itong blogs and posts tungkol dito...Parang napilitan lang talaga ako nung Feb.2 sa Gateway CUBAO kasi babae ang agent and it is not a good idea na pagsalitaan ko ng masama para hindi ako pilitin kumuha ng insurance. Ang sabi ng mga agent sa field ay 45 minutes daw ang formality to introduce their company pero ang totoo daw ay 10 minutes lang..Nagdown ako ng 10K kasi inabot kami ng 3 hours sa discussion....sinusubukan nyang tirahina ng weakness ko at pinipilit nya akong lumapit sa kanya while speaking. Hunihingi ako ng copy ng company policy at gusto ko muna malaman ang company background bago ako magdown.....ayon..di ko alam kung ano ngyari..basta basta lang akong napa-oo after 3 hours 8:30 PM natapos...uwing -uwi na rin ako nun.........Pwede makahingi ng advise paano ko materminate ang plan?

    ReplyDelete
    Replies
    1. Hello po. Bago ang lahat,please refer to this comment. Pakihintay nalang na madirect kayo sa comment kung nagloload pa sya.

      Delete
  60. Wow nice blog..mine was a different story..im an ofw working in dubai for almost eight yirs..i was also convinced and bought their policy 5 yirs ago and sa awa ng Diyos tpos n ako mgbayad..i came to think of it n npkabilis lng tlga ng panahon..kung hindi q un ntuloy mlamang same old habbits and wla mn lng cguro akong naitatabi..it was truly life changing..s mga bloggers hir i hav nothing against anybody hir..bt come to think twice of ur decisions..Godspeed to all..

    ReplyDelete
    Replies
    1. Thank you for reading before commenting.

      Mabuti nman at natapos nyo plan nyo. I would've wanted that for myself too pero minalas lang talaga. Tapos dinagdagan pa nung nangyari sa offce nila. I just wrote about it thinking wala namang taong bumibisita sa blog na to. Nagulat nalang ako to read about others' bad experiences with them.

      Good luck po.

      Delete
    2. hello haopee..i want to ask if panu ung gnwa mong cancellation letter.kc nag avail ako ng endowment plan nla nunf feb 6 i gave 13937 as initial premium.after reading all this blogs i decoded to cancel my plan asap habang d ko p narereach ung 15 days grace period..thank u and godbless

      Delete
    3. Hello. As I mentioned above, I made my termination letter doon sa kanila. The person na nag assist sa akin yung nagturo kung ano dapat ko ilagay which included the reason for my termination. I'm sure it goes the same way for the cancellation. Perhaps even easier. Pero the best way na talaga is puntahan nyo nalang po yung office nila.

      Pasensya na ha, matagal na akong nag paterminate kaya di ko na matatandaan yung exact content but it stated that I wanted to terminate my plan (nilagay ko na rin yung exact reason na it was because I can't afford it anymore) and receive the cash value of my premium.

      God bless din po.

      Delete
  61. Join me in facebook para magtulungan po tayo...

    Just type . PHILIPPINE PRUDENTIAL LIFE SCAMMER

    ReplyDelete
  62. Just got my refund last Tuesday, after a month and 3 days. Thank you so much for this blog, to haopee and Jonha. It had helped me a lot. God bless you both.. Happy Heart's Day! ^_^

    ReplyDelete
    Replies
    1. Good for you po. I am glad you were able to get your refund.

      Delete
  63. hi i wonder if you could help us, we wanted to withdraw our money back from PPLIC but the agents there told us that maybe we cannot get our money back because it is a life insurance and we only able to pay for 4 months and an initial deposit of 13thou something.. they told us that if we pay for atleast 2 years we can get all our premiums, but we are not interested in them anymore, is it posible for them to hold our money just because its a LIFE INSURANCE PLAN?
    is there any other way we could get our money back? thank you so much i hope i can get a reply on these from u..

    ReplyDelete
    Replies
    1. As for what the agent promised, I doubt that's true. If you check your policy, the two year cash value is far from what you paid for in your premium.

      Nevertheless, I could be wrong so you might want to consider having what that agent said officially written so as he/she can be accountable to what he/she said.

      Also, you might want to consider terminating early on (where there's a fat change you might not get anything) or paying for the rest of the year and getting approximately 1/3 of what you paid since that's what I got after paying for my premium for a year (and terminating it).

      Good luck.

      Delete
  64. thanks sa lahat ng mga comments nabasa ko,lalu na sa mga testimonials kung pano nila narefund ung pera nila fr pplic sa maikling panahon lng....sana ako rin sooner marefund na pera ko..feb 11 ako nakakuha ng policy,after 4 days saka lng ako nagkaron ng time para isearch pplic....ok sana kya lng nadissappoint ako sa mga nabasa ko,same experience talaga..feb15 ako nag file ng cancellation letter sa branch office nila sa sm fairview.....pinareciv ko letter of cancellation,ask ako ng soa cancelled upon inception...wait daw me 30-45 working days...follow na lng siguro mas madalas para marefund agad,khit na maliit lng na halaga..pang groceries din....

    ReplyDelete
  65. salamat sa blog na to..kahapon lang din ako naloko ng philippine prudential na yan at first time kong pinansin ang mga ganun sa mall tapos eto pa napala ko..more than 2hours kami dun ng bf ko kagabi(from 7:20 to 9:30, sarado na ang mall paglabas namin), gutom na gutom na kami..hayst..at pupunta ako ulit dun ngayon para ipacancel ang policy ko..buti nlang at creditcard gamit ko, pwedi ko edispute sa bank para di ma-bill sakin ayun sa nabasa ko sa blog ni jonha..di ako halos makatulog kagabi..salamat tlaga..super nakatulong ang blog na to sakin..

    ReplyDelete
    Replies
    1. Liev

      hi..update ko lang kayo dun sa cancellation ko ng policy kagabi..nagpunta kami ng bf ko sa sm north bitbit ang letter of cancellation ko..tapos kinausap ako ng parang head yata ng customer service nila..tinatanong sakin anu ba daw reason ko, sabi ko kasi di naman pwedi e-installment yung na charge nila sa creditcard ko, tanong pa nya, yun lang ba daw..wla na ba daw ibang reason..sabi ko di na nga ako interesado, nagpunta lang ako dun para ipacancel..magbibigay daw sila ng options sakin, sabi ko kahit anong options pa ibigay nila sakin, ipapacancel ko pa din..mga 20 minutes kaming paikot-ikot lang ang usapan kasi ayaw nyang tanggapin na gusto ko na nga ipacancel yung policy..maya-maya, pinakausap ako sa manager daw nila na si SAM (yung baklang maputi na matangkad)..tinanong nya ako sa reason daw, sabi ko yun nga sa installment, pinipilit nya na pwedi daw yun at gusto pang tawagan ang banko pero sabi ko kahit naman payagan ng bank yun, ipapacancel ko pa din..dahil ba daw sa mga negative feedbacks na nabasa ko, sabi ko hindi naman,feeling ko lang naloko ako kasi di lahat ng sinabi nila ay totoo..sagot naman nya, naintindihan daw nya ako pero pwedi daw talaga yung installment..at kung nabibigatan daw ako dun sa amount, kaya daw nya pababaan yun at yung remaining, ibabalik daw nila sa creditcard ko..at first, sabi nya kaya naman daw nyang idowngrade yun para mababa lang ang initial payment at monthly, if gusto ko daw, 9k initial (pwedi daw 12 months installment) at P460/monthly starting April 2014. pero sakin, decided na talaga ako na ipacancel xa so i still said no. tapos sabi nya, pwedi din daw 4k plus initial at P230/monthly payable next year (april 2012)..napaisip ako, ang cheap naman..tatawad talaga para lang di ko ituloy yung pagpapacancel..he got so desperate siguro na sabi nya, yung insurance nalang daw na 6k ang wag ko icancel, yung "ipon" wag nalang para lang daw sa effort nila..sabi ko me insurance na kami sa work ko so i don't need another one..pinipilit pa nya na additional daw yun..nainis na ako kasi ang tagal na nmin nagusap at naghintay ulit sa labas ang bf ko just like what happened the other night..so sabi ko, super decided na ako to cancel na kahit anong sabihin nila, i will still say no (sabi nga ni haopee, be firm with your decision to cancel the policy)..sabi pa ni sam, yung mga blogs at mga nagkocomments daw like this na sumisira sa company nila are not even thier customer, madami daw ganito pero di daw ako dapat maniwala..i just smiled..pinakonsensya pa nya ako, kawawa naman yung nag explain daw sakin about the company (his name is Jeremy), baka daw matanggal pa sa work nya dahil sakin..baka sabihin daw ng head office nila, me pagkukulang sila sa work nila kaya ako nagpacancel (wow! super desperate..lahat nalang ng pweding etrigger na emotions, gagamitin..the best ang acting ni bakla)..sabi ko, I will write a letter stating you have done your job and offered me several options but it's my decision to still push through with the cancellation..dun na nag give-up si sam..yung nag assist sakin na isa pa nilang customer service, naintindihan nya ang sitwasyon ko,.sabi nya, wag ko nalang daw pansinin yung mga pinagsasabi ng bakla at pasensya na daw sa abala..sya na din yung nag receive ng letter ko kasi nag walk-out na si sam..normal processing time daw na ma-reverse yung amount sa credit card ko is 30-45 working days pero dalasan ko lang ang follow-up para mas mabilis daw..i'm sharing my experience here just for everyone to be informed that they will do/say anything para di nyo ipacancel yung policy nyo with them..true that their offers are very enticing but free yourself from worries and go on with the cancellation before its too late..i learned my lesson and i hope others will learn too, or at least aware sila sa mga ganitong schemes..update ko nalang kayo ulit :D

      Delete
    2. Wow. Nakakabastos na yun ha. Yung pagsasabing baka mawalan si Jeremy ng trabaho was a low blow. Lahat naman tayo nagsusumikap magkapera. Di ko na alam ang nangyari sa receptionist na nag asikaso nung payment sa akin but some of the money I was paid with definitely came from her pocket dahil the check was for 9000+, yung nareceive ko was 10k in paper bills and coins.

      Salamat pala sa pagshare mo nung experience mo. Lesson learned naman sa atin lahat yun eh. Those who got their premiums are blessed and lucky. However, the decisions they made may not apply to all. For those na parang naiipit sa gitna, difficult choices like these are part of life.

      Nakakaasar pala yung nagsabiNG "yun lang". Kahit sampung piso lang yan, pera pa rin yan. Pinagpaguran pa rin natin yan. Whether we invest it or not is our choice. Nakalagay naman sa policy na pwede magcancel basta within 15 days. Walang clause doong nagsasabi na "there should be PPLIC-approved reason for cancellation."

      Delete
    3. welcome haopee. :)

      Delete
    4. hi guys..im happy to share to you na na-reverse na yung charges ng PPLIC sa credit card ko last March 12..just 2 weeks after I requested for cancellation of my policy..thanks to my ever patient boyfriend na halos everyday tumatawag to follow-up on the status of my request. Sana yung ibang naabala ng PPLIC will have their peace of mind na din..Thanks to this blog, again, it really helped a lot.

      Delete
    5. Good for you. Maswerte ka rin sa bf mo. I agree with what you said. I hope everybody will have their peace of mind.

      Glad na nakatulong. ^_^

      Delete
  66. Hi guys, me and my wife was a victim also of PPLIC last September 2012, they forced us to make a payment of 3k by using our credit and now I already settled my credit card and closed it, now my question is: If i can still get my 3k that I paid so for my wife? But for my wife she haven't settled her credit card so the charges still in there. I need advice from you guys. Please Please we really need money and everyone does.

    ReplyDelete
  67. Attention to: haopee & Jonha

    ReplyDelete
    Replies
    1. Tanong ko lang po, nabasa nyo ba yung ibang comments sa post na to? I am pretty sure na I mentioned that prorated ang cash value na nakukuha mo. And if nanotice nyo rin po sa policy nila, walang cash value yung less than a year. This is the reason why as I've mentioned before and again, na di ako sure kung may makuha pa kayo.

      Since September 2012 na yun at napakatagal na, I'm pretty sure the chances are very slim. Kung nabasa nyo po ang post, I mentioned na nung magcclaim na ako nung terminated premium ko, naghirit pa sila ng 1,610 for the month of March as a mispayment kahit na February yung confirmed termination ko.

      Delete
    2. tama si haopee, since less than a year ang policy mo at more than 15 days na ang contract (outside of the cooling period) wala kang marerefund sa mga previous premiums mo dahil, technically, between september 2012 and the day that you cancelled your card/policy, insured ka nun (this is with the assumption na may insurance component yung policy na kinuha mo) now since less than a year nga, magkakafund value lang yang policy mo between the 2nd year (maliit nga lang, far less than what you're paying) up until the maturity date. sorry pero wala ka talagang marerefund or kung meron man, sobrang baba compared to your premiums paid

      Delete
    3. Hello po, sir Gian. Thanks for further clarifying that up. Iba talaga pag may alam.

      Salamat din sa pag tulong sa pag advise. Minsan kasi di ko na masagot yung ibang katanungan especially since there are some cases here that I am not familiar with.

      Delete
  68. PAALALA lang po sa mga future commentators and questions, please read all the comments and the entire post.

    There are instances that I do not reply because some of the issues na tinatanong ng iba, natackle na. So please read the rest of the post and comments bago magtanong. Thanks in advance.

    ReplyDelete
  69. kanina my humarang din sa akin sa mall at dinala ako sa office nila kung gusto ko raw manalo ng car tapos sinales talk nila ako, ngbayad ako ng 3k. pwede ko pa po kaya ung mabawi sa debit card ko un nabawas. sad.

    ReplyDelete
    Replies
    1. I'm sorry I'm not much help when it comes to the 3k charge/ reimbursement.

      Actually, wala pa akong nabasang comment sa blog na may nakakuha na ng refund na 3k. Pero yung iba naman, nakakarefund naman (sa credit card, reversed yung charges) like Zhoey .

      Delete
    2. Hi, financial consultant din ako (with prulife uk nga lang) and ang tip ko sa'yo is to call them first (the PPLIC office) to have the policy cancelled, across the board ata yung cooling period of 15 days, i've read somewhere na may 8 calendar days pero best bet ko will be the 15th, its the 2nd of april so hopefully naasikaso mo na dahil mas mabilis ang proseso, ngayon kung hindi nila gagawin for any reason, itawag mo sa bank mo, tell them your concerns, sila ang makikipagusap sa merchant to have the transaction cancelled, insist mo na unauthorized yung transaction, mas matagal nga lang ang proseso pero they can have your money returned if PPLIC won't honor your cancellation. on the other hand, basahin mo rin yung policy contract mo if you already have it with you. let us know how it turned out.

      Delete
    3. Actually I'm also not knowledgeable with the 8 calendar days period. In my policy dati, it was the 15 days talaga. And nung time na nagkaplan ako, I payed well above 3k.

      The best way to get information is to call them talaga.

      Sir Gian, thank you for telling us about the bank/merchant unauthorized transaction detail.

      Delete
  70. very nice blog..i am a policy holder of this company for almost 10 yrs im waiting for my money alredi my maturity..cant imagine dt drs alot of people that is against this company or the so called marketing strategy nila..so far the company for ne is ok and i can justify that..for people like mine hu works abroad for me it is better to have sumthing than nothing in the near future..kpg my savings k kc ur redi no matter what hapens..wla aqng papanigan dto akin lng we hav all the freewill to knw wat is ryt or wrong..Godbless to us all and for my hardworking kababayans in abroad..

    ReplyDelete
    Replies
    1. Thanks po.

      Don't get me wrong. My sister is also a policy holder since that's what their company picked. And so far, okay naman daw. It's refreshing to hear another opinion.

      I truly hope you receive your premium. At least, pag uwi mo dito, you're all set na.

      Good luck and God Bless.

      Delete
  71. Hi, good early morning.. Kakabigay ko lang ng 3k sa kanila last feb..alam nyo na kasi masyadong mapilit kaya naman binigay ko na para matapos ang supposedly 45min listening..but anyways, what I understand is that it will be an insurance plan good for a year. Its just like paying 8pesos a day.. At sabi din na ang 3k ay automatic na rin daw na downpayment if ever magpapatuloy ka to the endowment and will pay monthly dues after the year.. But what I fear is that baka automatic sila magbawas sa atm ko after that year na walang pasabi na kung nais ko pa bang mapatuloy.. Meron din po ba kaya akong mababawi if ever I cancel ko kasi parang may value kasi siya as insurance eh kahit d ko i-endowment??

    ReplyDelete
    Replies
    1. May na signan ka bang form na you are giving them authority to make an autodebit transaction sa ATM mo?

      If not, you don't need to worry. Nonetheless,you can ways give your bank the heads up.

      Thank you pala sa pagexplain nung tungkol sa 3k.

      Delete
  72. Di klaro scope ng insurance.. What if beneficiary mo is not really fit and has illness? Will they still give life plan if ever somthing happen to them?? Ang nasa waiver lang kasi sa pag sign mo ay ikaw as the one who applied is fit at hindi kasama ang beneficiaries

    ReplyDelete
  73. after 38 calendar days un 3k na nadebit sa ucpb acct ko na charged back din!nagsawa rin mga call center agents nila sa araw araw na pag follow ko ,ksi khit 3k lng pera ko pa rin yun ,akala ko matatapos un 45 days na d na marefund un 3k.siguro kung d nagkaproblema sa card no ng atm ko baka mas maaga na charged back sa acct ko un refund,at buo rin na nairefund...so sa nagtatanong kun un amt na 3k ay pwede marefund ito na ang proof,basta mas maaga lng un pagcancel ng policy...

    ReplyDelete
    Replies
    1. Ilang days before you had the insurance policy cancelled po?

      Delete
  74. after 4 days...nag personal ako nagsubmit sa branch nila sa sm fairview ng cancellation letter at pinarecieved ko sa knila,at ang advice nga nila 30-45calendar days ang grace period ng refund.thanks a lot pala ksi kundi ko nabasa mga comments dito wala akong idea kung paano mag cancelled ng insurance policy .

    ReplyDelete
    Replies
    1. You'r welcome po. Thanks for dropping by and answering my question.

      Delete
  75. I got scammed din po sa rob galeria last night and i paid 2,200 for their LABB policy. they said it's just a one's year worth of insurance so kung mababayaran ko na ung 16K+ na remaining balance cash sa office nila, that's the time mag start na ako na mgpay ng 1,600+ monthly. I don't have any plans of continuing the policy but I'm starting to worry baka mag deduct sila sa atm ko ng hindi ko nalalaman.Yung concern ko lang po is,will they start deducting the amount 1,600+ sa atm ko even if I won't pay 16K? plan ko is pabayaan na lang ung nabayad kong pera na 2,200 because I don't have the time na to get the refund and at the same time, ayoko na rin ma experience ung pang haharass nila.i consider ko na lng na para na lang sa insurance ko for the whole year.but my concern is the deductions. baka pag umabot ng 16K ung pera ko sa bank, automatic kukunin nila, although sinabi nila i have to pay it on hand in their office.can I inquire sa BDO about this? How can i be sure they won't deduct anything sa atm ko?

    ReplyDelete
    Replies
    1. As mentioned in a previous comment, did you sign a form allowing them to auto-debit/auto-credit your account for the 1600?

      Ano ba sinabi nila tungkol sa 16000, do you have to come to their office pa para mabayaran yun? Kasi baka dun mo na rin isignan yung sa 1600 na auto-debit (which means na you won't need to go sa office nila anymore).

      Anyway, you can start by requesting sa bank mo not to authorize any transaction coming from PPLIC.

      Delete
    2. they told me i can pay the 16000 sa any office nila then that's the time, na magbabayad ako ng 1,600 thru sa atm na. so far wala naman akong naalala na may pinirmahan akong auto-debit form.puro insurance lng ung nakuha ko na only valid for one year and not the endowment policy.
      I'll just have to confirm this and call BDO just like you suggested para sure. thanks po! God bles..

      Delete
    3. You're welcome po. I'm glad you're taking action. Good luck nalang po sa kanil.a.

      Delete
  76. Good am po.ako rin po na victim nila.2 kc na avail ko sa kanila.ung 6k na life insurance pero hindi ko na daw macacancel kc wala daw un waranty na pwd ma cancel.tapos ang isa endowment plan na 13k napa cancel kona.mayron na ako soa na may nakalagay na cancelled upon inception.pero wala pa akong confirmation letter na natanggap.pwd ba ako pumunta sa credit card company ko para ipa void ung 13k na na canceled na kahit wala pa akong confirmation letter of cancellation?

    ReplyDelete
    Replies
    1. Pag may statement of account na po kayo na may nakalagay na cancelled upon inception, pwede na yun. Medyo may katagalan nga lang yung pag refund ng pera pero di ko sure kung ano yung patakaran sa credit card company. Try nyo na po puntahan as soon as possible yung cc company nyo, baka maexpedite nila yung process. Make sure to bring your SOA. The earlier, the better. Good luck po.

      Delete
  77. SA LAHAT PO NAIIMVITE NG MGA AGENT NG PHILIPPINE PRUDENTIAL LIFE ISNURANCE INC. HUAG PO KAUNG PAUUTO S KNILA...HUAG DIN PO KAUNG KUKUHA NG IBENIBENTA NLANG INSURANCE...MAGAYA NYO AKO....ILAN TAON AKONG NAGHULOG S KNILA....PGKATAPOS SASABIHN NLA S SAU TERMINATED NA ANG POLICY N KINUHA MO...SAYANG ANG ILAN TAON N NAIHUULOG KO....

    ReplyDelete
    Replies
    1. same situation here. i have been paying my dues diligently for 6 years already and i was surprised when the "manager" talked to me about the termination of my policy. and i was not even informed beforehand through a formal communication regarding their termination of our policy. is this even legal?

      there is also a "no-claim bonus" but only after 10 years of continuous payment. but since the policy has been terminated without even the consent of their policyholders, will there be some sort of a refund here?

      Delete
    2. Wow, did they really say that? So ano lang po yung makukuha nila?

      Delete
  78. saan natin makita ang listahan ng claim?

    ReplyDelete
  79. Hi. I had the same experience with them earlier. Damn those guys, I went to the mall only to buy something, pagpasok ko ng mall hinarang na nila ako. I already said that I really need to go somewhere, pero wala silang pakialam sa oras ng ibang tao, for as long as they get what they want. Paglabas ko sa office sarado na yung shop. Pft.

    The good thing is, they didn't get anything from me, but I signed a paper. It's up to the point where you put in your dreams or something of the sort. By any chance, may section na ba about auto-debit yun? Or safe pa naman account ko? Nakaka-worry lang e, though binasa ko naman before signing. Pero am still going to the bank tomorrow just to let them know that I am not authorizing any transactions with the company. TIA sa sasagot.

    ReplyDelete
    Replies
    1. Did you give them your account number? Did the paper your signed have your account number written in it? I didn't respond to this so soon kasi pumunta na po kayo sa bank which was the best thing to do at this time.

      Delete
  80. Alam nyo po ba kung binibigay namn nla ung money saving sa maturity date?

    ReplyDelete
    Replies
    1. Di ko po sure. Wala pa naman may nakakapagsabi dito.

      Delete
  81. I just signed last weds.Makukuha ko pa kaya ng buo yong pera ko kung mag cancel ako?

    ReplyDelete
    Replies
    1. Yes po. As long as you do it as soon as possible. Better do it within 7 days or before 15 days.

      Delete
  82. Is This the same as Philippine prudential in gateway? Ayaw kasi nila I accept cancellation letter ng sis ko, di na daw pwde. Nagalit ako s knya kasi di nya napilit at cnbi irereport sila

    ReplyDelete
    Replies
    1. I saw that one in Gateway. Parang magkatulad naman. Bakit daw di nila tinatanggap yung cancellation ng kapatid mo? Is that the insurance worth 3k or yung tulad ng sa akin na tig 11k... kasi yung pagkakaintindi ko, yung 3k, one time payment lang. Yung 11k at 8k ata yung pwede macancel.

      Delete
    2. 4.8k yung sa sis ko. One time payment nga yun for a year. Sabi di daw valid yung reason ng sis ko Nung ininterview sya. Reason Nya ayaw ng parents namin and nging impulsive lang sya ng panbbola ng agent nila. Ayaw ko tlga yung way nila. Tatanungin ka muna Kung may credit card ka agad. Kaya ngmumukang mali eh. Anyway hahayan nalang ng sis ko kasi province pa kame at my work dn siiya

      Delete
    3. Wala bang nakalagay sa contract nila about sa cancellation? Kasi supposed to be yung 15 days na yan pwede mo mareview yung contract. The reason why it was given 15 days is for you to be able to read and fully understand what was written in it. If you disagree with such uch terms, pwede dapat macancel within that short period.

      Try nyo pong kausapin yung manager. Tapos either get a recorded spoken or written statement why hindi pwede para mareport nyo kasi pwede mareport yan sa insurance commission- yan ay kung nakalagay ang cancellation terms sa policy mo. So be sure to read it

      Delete
  83. same happened to me. i was convinced due to pressure and the desire to go home to get an insurance from them. I thought i was getting an endowment savings policy, but after they swiped my card ( asked me first if they can check my atm card and will see if my bank will approve) only did they inform me that i got their LABBS term insurance. Then after 4 days i went back to their office and submitted to them my cancellation letter stating therein that there was a misinformation that had happende wen the agent was discussing to me about the subject of endowment policy and i agreed to such policy and that i was never aware that i was getting a term insurance instead because i only paid them like 4.5K. So i turned in my cancellation letter and the customer assistant there told me that it was non refundable. I told her in return that i was never informed of the non-refundable policy. because it was not stated in the term insurance form that they gave to me. I got angry with them, kinda raised my voice and then finally they accepted my cancellation letter and i asked them to return my money back. The customer assistant told me that she will turn in my letter to their main office but it is still up to the management to decide if they will return my money or not.


    i am currently writing a letter to Ben Tulfo and see if he can help me.

    ReplyDelete
    Replies
    1. Wow, that sounds awful. It's like kabisado na nila kung papano iconvince yung tao na wag ng kunin yung cancellable na plan.

      Yung mahirap lang dun is that palagi nalang nilang sasabihin na it will always depend sa management (wherever that is). Eh yung poblema dun, we don't have access to that higher management, so we can't express our concerns kasi pinapalabas nilang wala naman pala silang capacity (or power) to address those issue.

      I hope Mr. Tulfo does.

      Delete
  84. panu po pag edowment plan yung nakuha pewede po ipa cancel kahit po lag pas ng 15 days

    ReplyDelete
  85. kasi nabiktima rin nila ako last april 26 pero ang start ng hulog ay nov pa pede pa po ba macancel yung policy ko?

    ReplyDelete
  86. Wow! Same story as most of the people here, kanina I was at SM Cebu, this gay approached me, and told me to sign up to their raffle promo, I said: thank you, but im in a hurry, but he still handed me the paper and pen, I dont wanna accept it so i kinda pushed his hands away, his pen fell coz of that, nahiya naman ako so pinulot ko un pen to hand it back, but he wont accept it, he made follow him to their booth, there he said its free nmn daw, all i have to do is fill up the form and answer some questions, tas my freebies pa daw ako makukuha, so i said to myself sige na nga para matapos na, after filling up the form and answering a few questions, congratulations he told me that klangan ko daw umatend ng presentation bago ko ma claim un freebie at para makilala ko daw un company para kun manalo ako pwede ko daw ma endorse un company nila, I really wanted to back out coz antagal nung 45mins, but he begged me so I said ok, out of pity i guess, pag dating nmin sa office ng Prudential, after a few mins, this girl came towards me and xa daw ung mag bbgay ng presentation skin,akla ko tlga presentation lng at introduction lng ng company nila ang mangyayare, but what happend is 5mins lng un introduction about sa company, tas the whole time she was convicing me to apply for their plan and was indirectly telling me that im such an idiot for not having one, eh 23 na daw ako wala pa ako plano para sa kinabukasan ko, it was irritating, porket walang insurance wala ng plano sa buhay?? Super kulit din xa, i said my pnaglalaanan na ako ma importante don sa pera na un and i that i have lots of expenses this month, pero sobrang mapilit parin xa, i even said na pagiicpan ko muna, and that ill be back na lng some other time, but she said one time offer lng daw un, and that its very rare fir them to accept walk in applicants ng plan, wow! I was in a tight spot, sobrang aggresive kasi nya, tas dumating pa ung manager, na corner na tlga ako, they talk to you in a way na anhirap sabhin ng salitang aalis na ako,its like hindi ka tlga nila papakawalan until you say yes, after 3 hours ng stay ko don, napa suko nila ako, i just really wanna go home, wat i availed is the LABB PLUS, kc pnilipt ko tlga sa kanila na hnd ko kya mag endowment which is 18k minimum initial she said. So they took 4.5k from my atm, one time payment lng daw xa, i dont have to pay them monthly, the manager said insured daw ako for 1 year,

    Death benefit : 150,000
    AD&D : 150,000
    Burial : 50,000
    Accidental med. Reimbursment : 15,000
    Dental services ko daw is unlimited, thats what they said, it it true, lage na lng ako pupunta sa dentist para mabawi ko ung 4.5k ko... non refundable kc ung labb plus, thay also gave me a box of natur sentials its a tea, concerne daw kc sila sa health ng clients nila, hahaha..
    Thats it, thats my story, i just hope na ma sulit ko ung 4.5k na binayad ko ng labag sa kalooban, tru dental services of course.. :)

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    Replies
    1. I hope so din po.

      Kasi pag unlimited yung dental service, that'd be good!

      Thank you for sharing your story.

      Delete
  87. My husband was tricked by one of the agents from SM SOUTHMALL. The agents went to their office last July 17, 2013. I have read almost all the blogs, comments, facebook sites for this Philippine Prudential Life Insurance. As soon as he informed me that he signed up for this said insurance policy I checked google and see if they're legitimate or not. Well maybe it is a legitimate business but they use "misleading tactics". They even video taped my husband into signing up and saying there and then that he agrees to whatever terms they call it. When we checked our BDO Credit card we are billed P 39, 338.00 from there we immediately cancelled our card and hopefully to have our plan cancelled.

    We went to their office in SM SOUTHMALL personally today July 22, 2013 for the cancellation. They were able to cancel the 30, 338 charged to our account but they mentioned that for them to cancel the 9000.00 for what they call now LABB PLUS which they mentioned it is different from their endowment plan, we would need to write a separate letter to PPLIC and we would need to wait within the week for their confirmation if the 9,000 will be cancelled or not. We are really hoping for an action for this, we want a full amount refund. Same with Eric F. (the comment above me and the anonymous one also). They said that for the LABB PLUS since July 16, 2013 there is no free look up period (Non-refundable, and it cannot be cancelled), it should have been written black and white to what they give to their suspected clients.

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    Replies
    1. Wow, they did that. Dapat pala, vinideo tape nyo rin sa side ninyo. I am sure the videotaping somewhat intimidated your husband.

      I am sorry to hear about this new insurance. Whether they call it aggressive sales strategy or not, I think they should clarify everything and state it in a simple manner para hindi maconfuse ang mga consumers.

      I truly hope it gets cancelled.

      Delete
  88. Hi blogger,
    I feel so bad while reading all the comments, and at the same time I am so upset as I was convinced by their misleading tactics. Probably because that time we got too excited since we just landed from abroad. I dont need to reiterate everything since what happened to others happened to us too. Anyways, i can't remember what kind of plan we took but i am pretty sure po that I paid PhP26,000 in cold cash and the monthly premium is 1,300 or 1,600 thru auto debit. I became a member last Dec. 2012 , ask q po my chance po ba na maibalik yong full initial payment ko? I decided to discontinue my payment starting this month po, sabihin nating after a year ko pa po irequest yong termination ng contract q pero i will not continue paying them, kc they said only after a year pa pwedeng maapply yong termination ng policy, pls advise and correct me if i am wrong with my understanding. By the way we are living abroad pala. Thanks

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    1. Unfortunately po, di na makukuha yung full na payment, especially since lagpas na po nung cancellation period.

      I am not sure kung meron ng cash value yung less than a year. I suggest na ipaterminate mo na kagad because kahit na di mo binabayaran, they will automatically deduct your delayed payments once you claim for the cash value. That's what happened to us. They decided to deduct a payment we supposedly missed when in fact, pasok pa kami sa grace period of the previous month.

      Delete
  89. I followed the procedures Ms. Jonha Ducayag Revesencio posted on her blog: "jonhappiness.blogspot.com/2010/12/how-to-cancel-your-pplic-philippine" on how to cancel my insurance with the Philippine Prudential Insurance. Unfortunately, the "Term Insurance" I bought which is valid for a year is "nonrefundable" daw. That's what the manager said and I even ask one of their agents if this was true. According to the agent I spoke to, I can only cancel my Term Insurance worth 9 thousand pesos within 14 days upon payment and sadly I am 8 days late. They even told me to make a letter of why I cancel my Letter of Cancellation. What do you think? By the way, PPLIC SM City Ilo-ilo Branch is where I bought my term insurance

    ReplyDelete

Thank you for sharing your thoughts.