Registration/Licensing of P1 Billion Worth of Life Plans
SEC-NTD (Notice and Order) • Securities and Exchange Commission Departments • Non-Traditional Securities and Instruments Department (NTD) • Apr 11, 2005
Full text
April 11, 2005 NON-TRADITIONAL SECURITIES AND INSTRUMENTS DEPARTMENT IN THE MATTER OF PRUDENTIALIFE PLANS, INC., registrant. REGISTRATION/LICENSING OF P1 BILLION WORTH OF LIFE PLANS NOTICE AND ORDER Notice is hereby given that on March 10 and 31, 2005, a sworn registration statement and the supporting documents were filed with the Securities and Exchange Commission for and on behalf of PRUDENTIALIFE PLANS, INC., for the additional registration/licensing of P1 billion worth of life plans to be sold at the following contract prices based on annual installments per unit of Basic Plan Value (BPV): Term of Flexi Plans Payment Flexi Basic Flexi Value Plans Flexi Premium (Year) Minimum 1 Maximum 2 Minimum 1 Maximum 2 Minimum 1 Maximum 2 Spotcash P1,129 P1,288 P1,239 P1,394 P1,900 P2,150 Two 1,164 1,328 1,278 1,438 1,946 2,132 Three 1,200 1,368 1,317 1,482 1,971 2,163 Four 1,236 1,412 1,360 1,528 2,036 2,232 Five 1,275 1,455 1,400 1,575 2,100 2,300 Term of Traditional Plans Payment Traditional Basic Traditional Value Plans Traditional Premium (Year) Minimum 3 Maximum 4 Minimum 3 Maximum 4 Minimum 3 Maximum 4 Spotcash P22,128 262,206 P29,480 P289,185 P37,408 P354,113 Two P22,812 270,316 30,392 298,130 38,564 365,064 Three P23,517 278,676 31,332 307,350 39,759 376,356 Four P24,244 287,296 32,300 316,856 40,988 387,996 Five P24,995 296,180 33,300 326,656 42,255 399,995 Term of Cremation Plans Payment Cremation Basic Cremation Value Plans Cremation Premium (Year) Minimum 5 Maximum 6 Minimum 5 Maximum 6 Minimum 5 Maximum 6 Spotcash P19,224 P27,572 P20,282 P29,090 P46,717 P60,253 Two 20,324 28,796 21,526 30,452 48,162 62,116 Three 22,449 30,873 24,072 33,021 49,650 64,038 Four 26,252 33,868 28,704 36,896 51,188 66,020 Five 31,115 41,240 32,700 45,330 52,770 68,060 Note : The other modes of payment are disclosed in the actuarial study on file with SEC. Based on the documents filed, the following persons appear to be its officers and directors: Name Position JOSE L. SANTOS Chairman JOSE ALBERTO T. ALBA Director/President ANTONIO A. PICAZO Director/Corporate Secretary ANTONIO P. GATMAITAN Director FRANCISCO T. ALBA, JR. Director FRANCISCO A. ALBA Director Said petition and other documents attached thereto are open for inspection by interested parties during business hours, and copies thereof, photostatic or otherwise, shall be furnished to anyone upon request and after payment of the required fees. Any person may file an opposition thereto within ten (10) days from publication of the Notice. SO ORDERED. EDSA, Mandaluyong City, Philippines. For the Director: (SGD.) MERLE JOY B. PASCUAL Assistant Director Registration and Licensing Division Published in The Manila Times on April 12 & 18, 2005 .
Ask what this means for your situation
The assistant quotes the passage it relies on and links the source, so you can check every figure it gives you.