Philam Plans assures protection of plan holders
Two officials of Philam Plans Inc. were in Iloilo City Thursday to correct misconceptions regarding pre-need services which was hounded by controversies recently.
Joe Bacalso, Territory Head for Visayas Operations, and Roland Gaerlan, Head of Sales and Marketing Group, met the local media to clarify certain issues affecting the pre-need industry.
The two executives admitted that Philam Plans Inc. was affected by the recent controversies involving other pre-need companies that failed to pay back their plan holders.
Bacalso said because of the incident other individuals are now having doubts in getting pre-need services.
However, Gaerlan pointed out that Philam Plans could not be compared with the failing pre-need companies. In a short presentation Gaerlan stressed that Philam Plans prides itself with a record of excellent performance and outstanding achievements for the past 16 years.
He said Philam Plans has the largest, most liquid and fastest growing trust fund level. As of August 2005 its trust funds stand at more than P19 billion and over 90% in cash and highly liquid government securities.
Gaerlan boasted that Philam Plans is the biggest capitalized pre-need company standing at P700 million in paid-up capital by the end of October 2005.
He added, Philam Plans is the first pre-need company which was awarded the certification for ISO 9001:2000 version, proof of its world-class capabilities and compliance to international standards.
Official report as September 2005 has shown that Philam Plans has maintained overall pre-need sales leadership at 23.55% total market share. It is bound to retain its 5-year record sales leadership with winning sales and marketing campaigns launched in the 4th quarter of the year.
At this present level of liquidity Philam Plans can readily pay all maturing and availing pre-need plans this year and all the way to 2013.