#pplic

[page-2-ids]

Suffixes!

-pplic: A suffix for Peoplegenders

-peoplic: A suffix for Peoplegenders

[philippineprudentiallife-blog]

6 Insurance Policies You Don't Need

Paying for insurance may be one thing that we love and hate to do. You love the idea of providing for you and your family’s future, but you hate the idea of paying premiums each year for health, dental, optical, auto, homeowner, life, disability, long-term care, and umbrella liability coverage. As we all know, there are so many insurance policies out there, wherein some are offered by Philippine Prudential Life. There are some which are important, such as those from Prudential Life or PPLIC, but there is also some that can be thrown at garbage. Here are some insurance policies that you don’t need:

  Private Mortgage Insurance- The private mortgage insurance (PMI) is well known to homeowners because it increases the amount of their monthly mortgage payments. PMI is an insurance policy that protects the lender against loss when lending to a higher-risk borrower. The borrower pays for this insurance but derives no benefit. If you fail to make your payments, the policy pays off -- but it pays the lender, not you or your family. Thanks to rising home values, you might now have 20% equity in your home. This type of policy is very narrow in its coverage and therefore is probably not the best use of insurance premiums.

Flight Insurance- This policy is a waste of money because the chances that you’ll die on plane crash is remote. Check with your credit card company, because some automatically bill you for the coverage when you buy a ticket. Even without this coverage, if you die in an accident, the airline is likely to compensate your family. But still, it is advisable to have a life insurance no matter what the cause of your death is.

Cancer Insurance- Cancer Insurance is now rampant in all places. The reason this is generally such a poor insurance choice is that first of all, your primary health insurance generally covers medical expenses related to cancer treatment. Most cancer insurance doesn’t cover skin cancer, which is one of the leading types of cancer. It is still the health insurance that you should buy instead on wasting money on cancer insurance.

Rental Car Insurance- Majority of car insurance covers car rentals, making this a useful feature if ever you are involved in a car accident. This may sound like a good idea, but in reality, most people rarely rent a car, and when they do, the cost is relatively low and hardly worth insuring against.

Flood Insurance- Unless you live in a flood prone area or places with water problems, you may buy this. If none of the homes in the area has ever been flooded, yours is unlikely to be the first. Only 20% of American homes at risk for floods are covered by flood insurance. Most private insurers do not insure against the peril of flood due to the prevalence of adverse selection, which is the purchase of insurance by persons most affected by the specific peril of flood.

[tanjahull-blog]

Life Insurance: A Financial Safety Net for the Family

Accidents and other misfortunes may occur when you least expect them. One thing you can do is to prepare yourself from these circumstances and get life insurance from PPLIC. Read on to learn more about this insurance policy and its benefits.

Accidents and health conditions may strike when you least expect them. These may cause a considerable amount of damage, both physically and emotionally. These may also cause financial drawbacks, especially if you do not have enough resources to cover the damages. Although it is impossible to predict what may happen in the future, you can always prepare for the worse possible scenarios. One thing you can do is to get life insurance from PPLIC.

What is life insurance?

Life insurance is a policy that allows insurance providers to cover a certain amount of money to your beneficiaries. This means the provider pays for financial losses in case something bad was to happen to you. Life insurance can be a great option if you have dependents or other financial obligations to settle. The main purpose of this policy is to provide peace of mind, supporting the loved ones left behind. Nevertheless, insurance providers may offer the policy based on your needs and goals. These may also come in different types, which include the following:

Whole Life: This policy provides lifetime coverage. Due to its long-term coverage period, you may need to pay higher premiums than other policies. The premium, however, does not change over the course of the policy. This means you pay a fixed rate for the entire duration of the coverage. This also features a cash value, which may help you accumulate tax-deferred over time.

Term Life: This policy offers financial protection for a certain period, usually for 10 or 20 years only. The premiums you need to pay during the entire coverage are not as high as in whole life insurance. These also remain the same until the coverage lasts - you can still get continued coverage at a higher premium rate. This insurance policy is ideal for people who suffered severe health conditions or accidents that led to potential income loss during their years of service. The main purpose is to offer a safety net for your beneficiaries and give your family financial support. You can use this to cover mortgage or support your children's education.

Universal Life: This policy is a branch of whole life insurance, offering permanent coverage for your family. Universal life insurance, however, are more flexible than whole life. You can adjust your premium throughout the coverage to suit your budget. PPLIC can also offer this with tax-deferred benefits-your money can gain interest each year. This also builds equity on the total amount of money when your insurance provider dispenses the policy. You can also borrow the money directly from the cash value and use it to meet financial goals.

Choosing Your Life Insurance

Decide what type of policy is right for your situation and needs. Make sure you have enough financial resources to pay off the premiums before signing up for a policy. Know the different types of policies so you can choose one for your financial situation. Prepare all necessary documents so you can process your insurance more easily. Make sure to read the terms of the policy before getting it from your insurance provider.

To learn more about this, visit Philippineprudential.com.

[finickysquid]

Philippine Prudential Life Insurance Company Agents' Scam-like Marketing

Ok, I admit that it was pretty stupid of me to be lured into listening to this kind of thing by a raffle. But let me ask you, would you not be interested in winning a car or a trip to Macau? And getting a free wall clock? I thought that all I had to do was fill out a raffle ticket with my name, address, contact number and signature and drop it at a drop box. I should have suspected that there would be a catch. After all, raffle tickets do not come for free.

I do not think I would have been led into the Philippine Prudential Life Insurance Company's (PPLIC) office had I been walking hurriedly past their stall near the elevators of Robinson's Ermita. However, since I had just finished running my errands for the day, I was walking at a leisurely pace and so their agent caught me. After dropping my raffle entry at the drop box, the agent asked if it was ok that they presented their company to me. Sure, why not? I joined your raffle anyway without having to pay for the ticket. What followed was 1 and 1/2 hours of very fishy sales talk. What I went through has been blogged about before by other people so please just click this link to read this entry from the year 2010.

Fortunately for me, I was immediately miffed by the way the presenter of the insurance plans assumed that I was a person who had trouble saving money. What the heck dude, are you talking to very kuripot me? So I just sat back and politely nodded and shook my head to the things he said. The second alarm sounded when he started flipping a clear book of accounts from his previous clients to demonstrate the offers that he had. OMG, so does this mean that when I sign up with you, my account would also be visible to the rest of your prospective clients? No way!

The offers ranged from paying a monthly fee of P175,000 for 5 years then getting P1M worth of insurance after 10 years later, down to paying P3,000 for 7 years then getting P100,000 worth of insurance at the end of 15 years. After the guy presented his offers, he showed me a piece of paper that I could sign so that they could swipe my ATM Card on their machine and if the bank verifies (does not cancel) the transaction, PPLIC would start deducting P5,000 from my account monthly. Gosh, I wish I was able to record how the presenter said that. I made him repeat what he said two more times. It was worded so carefully that one would be made to think that swiping the card would merely ask the bank if the transaction was OK or not and not be the start of some leech sucking P5,000 from your bank account every month.

The guy seemed to guess that I was heading down the road to refusing him and his offers so he called for back up. A "senior" presenter came to our table and pulled out the big guns--guilt tripping. He asked what was it I didn't like about their plans. I just hate myself right now for still being polite with them when after the harassment they were doing I would be excused for shouting at them. Anyway, I said that insurance was something that I would have to discuss with my parents first before enrolling into. He then asked me why at 25 years old I still needed to consult my parents for this thing, couldn't I make decisions for myself. Oh no, you just antagonized your potential client by making it seem like her parents were controlling her life. What if I just happened to have a very good relationship with them which was why it was only natural for me to get their opinion on matters like this? But maybe the senior presenter was delivering an insult to this stubborn customer they had just wasted 1 and 1/2 hours on; as if hindi rin naman nasayang ang oras ko sa kanila.

I had not mentioned earlier that the presenters kept on repeating that the offers they had shown me were only good for today and I would never have the chance to avail of them tomorrow or on the days thereafter. As I walked out the doors of Robinson's Ermita, I couldn't help but think how silly it was of them to use those tactics. How on Earth were they able to thrive for 59 years if their offers were only good for one day? How could they expect a person to decide upon whether to invest in their plans or not only after 1 1/2 hours of trashy sales talk without even letting the said person call up a friend for a 2nd opinion or whip up her Wi-Fi enabled phone to Google the company? Sadly, the answer may be because there are people who let themselves get fooled into stuff like this. This is like the question of concubinage. Oo, walang babaeng magiging kabit kung hindi nangbababae ang mga lalaki, pero hindi rin naman mangbababae ng mga lalaki kung walang babaeng papayag na maging kabit sila.

So here I am now, blogging about this mishap that I barely got out of unscathed. A quick Google search of the words "Philippine Prudential Life Insurance Company" show:

1) The PPLIC official website

2) A Wikipedia entry on what the PPLIC is, and

3) Numerous blogs that complain of the PPLIC agents' tactics.

It's unfortunate, though, that the PPLIC is indeed a legitimate company so you can't sue them for fraud or embezzlement. I think that one could sue them for harassment and making misleading statements but the company could always reissue this statement made in 2009, about a complaint made way back last 2007 (a guess of mine due to the "two years ago")

"Two years ago, when you wrote your post about Philippine Prudential Life Insurance Company, Inc. (PPLIC), you probably did not realize that PPLIC agents are not employees of our Company; they are independent contractors. This does not excuse unfair sales practices, however, and so as a result of your blog post, we began to regulate the agents more closely. We now have customer service staff (full time employees of our Company) stationed at all of our retail sales offices. Their job is to interview every customer before they purchase insurance to ensure that the sales presentation was fair to them and that they are not asked to do anything against their will." -Philippine Prudential Life Scammers Explained

Whether this complaint they are referring to was made back in 2007 or 2009, today's event just showed that the PPLIC probably HAS NOT BEEN REGULATING ITS AGENTS MORE CLOSELY as stated above. After all these years, how can the PPLIC continue to turn a blind eye to what their independent contractors are doing?

Haaay naku... Right now, I just wish that some news agency would send an undercover journalist to Robinson's Manila and investigate what the agents are doing. Since the PPLIC is legit, they could angle the story to focus more on the independent contractors. More people need to be made aware of this thing. Blogging about it just won't do.

Other blogs about the PPLIC:

http://arpeelazaro.com/2010/08/06/pplic-goes-to-a-new-low/

http://digitalbrew.blogspot.com/2012/04/battle-with-philippine-prudential-life.html

http://jonhappiness.blogspot.com/2011/11/review-of-pplic-is-it-really-scam.html

http://www.himantayon-cagayan.info/2010/10/14/beware-of-the-vulture-agents-of-pplic-philippine-prudential-life-insurance-co-inc/

http://filipinoscams.blogspot.com/2010/06/philippine-prudential-life-insurance.html

__________

I just called up the Insurance Commission (02-523-8461) this morning to complain against the PPLIC. It seems like they've been receiving a lot of complaints recently. 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 administractive 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.

[amoensia-blog]

Unfortunate encounter with Philippine Prudential Life Insurance

Last saturday, Maki and I went to SM Megamall for the bridal fair. It was around 4 o'clock when we arrived and I was feeling a bit sick already because of my throat.

Anyway, while we were there, browsing the stalls, we were approached by this two guys who asked us to join a raffle. We were in a good mood that day so we just sat there and sign the raffle ticket. Then, right after we did, they were raving on and on about the 45 minutes presentation that we have to just say yes, but not necessarily attend. I should've turned around at this point but well, I thought why not.

Then we were accompanied to their office, signing this and that, agreeing to the 45 minutes presentation as an introduction to the company and in no way asking us to purchase anything. It's just for the sake of the promo. Only there they made it clear that we do have to sit for 45 minutes for the freakin' presentation. They emphasized more and more that we are not required to avail anything, and that they are just trying to introduce the company to us.

Fast forward to the presentation, I knew that they would try to sell their insurance to me, but I have no interest in it in the first place and was just trying to be patient in the whole ordeal. However... I was feeling really bad after 45 minutes. I can already feel my fever and I just really want to go. I told the presenter to please wrap it up fast since I'm running a fever already, and I was told that this whole thing is just for 45 minutes.

What did she reply? She said it's too early to end the presentation and the 45 minutes is the standard time, it usually takes 2 hours. WTF? I already told her I wasn't interested in availing. She keeps on pushing me that they're only concern because of their policy that I won't be invited again since it's just a one time thing. Then I told her again that I don't like to and I won't avail any insurance anytime soon. That went for another 15 minutes, and I was already signaling Maki that we need to go because I'm running a fever.

His presenter is much worse. He told me that he refused as well and told his presenter time and time again that he doesn't want to get the freakin' insurance. Then when his presenter asked what his priorities are, Maki even told her that his priority was to take me home ASAP because he is worried that I'm sick. But no, the presenter continued with the whole talk as if she didn't hear anything.

The whole thing was just an awful experience. I might've endured it if I wasn't feeling so bad. But still, it doesn't hide the fact that they won't let go of you until you avail their services. Just bullshit.

So if someone approached you, and this is the premise, just happily walk away. 

Here is a link to another story, a complete rundown of what also happened to us that day...

That day is just horrible!