Philam Plans ties up with Pares-Pares

Philam Plans Inc., a member of the Philam Group of Companies, has gained prominence among overseas Filipino workers (OFWs) in Hong Kong ever since it entered into a service agreement with Pares-Pares International Network Limited and joined with them in their cooperative pre-need program.

In only six months, the Pares-Pares program has enlisted the participation of 10,000 subscribers who stand to gain from the features and benefits of Philam Plans’ pre-need plans. They can also secure additional benefits from the program’s bonus scheme, which has been designed mainly to make it easier to complete their acquisition of Philam Plan’s products, the company said in a statement.

"Philam Plans provides these OFWs security for the future through our pre-need plans which are essentially pre-need programs enhanced with additional features and benefits. The Pares-Pares program then helps to amortize the acquisition of our plan through their bonus scheme. They can then apply the maturity benefits from their plans and any excess from the Pares-Pares program to build the capital that they can use for business ventures when they come home for good," said Eliseo Dizon Jr., president and CEO of Philam Plans Inc.

"Pares-Pares also provides livelihood training to enable OFWs to learn to develop skills to take advantage of opportunities," Dizon added.

While there is no obligation for members to refer anyone, Dizon said subscribers are encouraged to do so since it is through such referrals that they can benefit from the bonus system which will make it easier for them to fully pay for their plans.

"Aside from helping them acquire pre-need plans, the program also gives them career alternatives. By referring others, many have reaped tremendous returns in the form of finally building their homes, buying cars and appliances, setting up their own business. And there is really no limit to the opportunities that the program offers," beamed Dizon.

Dizon lamented however that the success of the program seems to have made them a target of disinformation. "I have not received any complaint from the plan holders. Pares-Pares International Network Limited only conducts information seminars about our pre-need programs and livelihood training and support through a cooperative for OFWs who are planning to come home for good," said Dizon.

"The system is such that OFWs fill up our forms and send it to Manila through Pares-Pares. They remit their payments to us through remittance companies and commercial banks that we have accredited to perform their service for us. We issue the plan contracts in Manila and the benefits are received in the Philippines. We are aware of what we can and cannot do abroad. We are sensitive to restrictions since we are part of an international organization, AIG," said Dizon.