Every Juan must have complete Holy Gardens memorial package
Rizal Philippines
August 6, 2016
The proposed ideas on the memorial plan:
1. 1 year transition period from old board to new board,and replacement of assets of DFPI, use of Holy Gardens Memorial Plan October 2016 to 2017
2. Things to do:
1. Acquire new office, 3ffb at Fuentes building Manila East Road
2. Draw plan for the office
3. Leasehold improvement
4. Recruit sales force
5. Train
6. Set up system. organize, set up budget
7 Set up satellite offices
3 Product line up
Target
2016 White rose and 2,000
Oct - Dec is (HGMP) 1,000
2017 White rose and other trad 4,000
is ( 1,000 ) 4,000
2018 Trad 5,000
Non trad 5,000
IS ( 2,000) 10,000
2019 Trad 7,000
Non trad 7 ,000
IS ( 3,000)
Cremation 1,000 15,000
2020 Trad 10,000
Non Trad 8,000
IS ( 5,000)
Cremation 5, 000
BVO 2,000 25,000
2021 Trad 12,000
Non trad 10,000
IS ( 5,000)
Cremation 9 ,000
BVO 5,000 36,000
Total 91,000
Acquisition of a Financial Plan company almost complete
Every Juan must have complete Holy Gardens memorial package
Rizal Philippines
August 6, 2016
We are almost done in having the acquisition of a financial plan company almost complete.
The product plan has been approved at IC We anticipate that by next week, the license for the revival of the said financial plan company will be complete by next week. We have paid for the registration of the securities for P50 million worth of memorial plans. It is a matter of paying the license fee for an equivalent amount next week.
It has taken us almost too years to complete the deal writing letters to IC negotiation, audit, complying with IC, writing the MoA, making the escrow for the deal etc. consultation with lawyers.
The next step will be organizing the MP company, recruiting the agents, setting up the system, training and then selling the memorial plans
So the estimated timeline is August approval, September recruitment setting up of systems, hiring, and October start of operations.
Rizal Philippines
August 6, 2016
We are almost done in having the acquisition of a financial plan company almost complete.
The product plan has been approved at IC We anticipate that by next week, the license for the revival of the said financial plan company will be complete by next week. We have paid for the registration of the securities for P50 million worth of memorial plans. It is a matter of paying the license fee for an equivalent amount next week.
It has taken us almost too years to complete the deal writing letters to IC negotiation, audit, complying with IC, writing the MoA, making the escrow for the deal etc. consultation with lawyers.
The next step will be organizing the MP company, recruiting the agents, setting up the system, training and then selling the memorial plans
So the estimated timeline is August approval, September recruitment setting up of systems, hiring, and October start of operations.
We are saddened by the problems of Loyola Memorial Plan
Every Juan must have complete Holy Gardens memorial package
Loyola short of P238 million in its reserves, down by 37%
Rizal Philippines
April 20, 2016
Of the 11 remaining memorial plan company, one of the biggest, Loyola Memorial Plan which was organized by the late Gil J. Puyat is encountering difficulties. It will be unable to serve 80t+ plan holders to the tune of P238 million. Its trust fund is deficient.
It sold life, pension, and educational plan. What did in the LMP would probably be the educ and pension plans. The low interest rate environment and the deregulated tuition fee environment made the educational plan no longer viable.
Or is it possible that the business model for the memorial plan is not viable ie having only 49% of the funds remitted as trust fund That business itself was legislated to fail under the Pre Need Code of the Philippines.
We are currently still working very hard on the Destiny Financial Plan acquisition. With this LMP problem it is very unlikely that OIC head Emmanuel Dooc will add more challenges.
Loyola short of P238 million in its reserves, down by 37%
Rizal Philippines
April 20, 2016
Of the 11 remaining memorial plan company, one of the biggest, Loyola Memorial Plan which was organized by the late Gil J. Puyat is encountering difficulties. It will be unable to serve 80t+ plan holders to the tune of P238 million. Its trust fund is deficient.
It sold life, pension, and educational plan. What did in the LMP would probably be the educ and pension plans. The low interest rate environment and the deregulated tuition fee environment made the educational plan no longer viable.
Or is it possible that the business model for the memorial plan is not viable ie having only 49% of the funds remitted as trust fund That business itself was legislated to fail under the Pre Need Code of the Philippines.
We are currently still working very hard on the Destiny Financial Plan acquisition. With this LMP problem it is very unlikely that OIC head Emmanuel Dooc will add more challenges.
Subscribe to:
Posts (Atom)