Philippine Prudential not related to Prudentialife

MANILA, Philippines - Philippine Life Insurance Co. Inc. (Philippine Prudential) has assured its policyholders and the general public that it has no filial or business relationship with Prudentialife Plans Inc. (PPI), a pre-need company which deals in pension, education and memorial plans. 

This is in response to customer and public concerns following news reports that Prudentialife Plans has been placed under “receivership” by the Insurance Commission (IC). 

“Philippine Prudential is financially sound as it remains to be a stable and strongly capitalized company, duly-licensed by our government regulator, the IC,” Philippine Prudential president and CEO Gregorio Mercado said.

“Our valued policyholders can be assured that their interests are protected with the company’s financial strength and business expertise. We remain focused on the daily execution of our business and continue to provide our clients with the highest levels of service, as we continue to expand and write new business, while remaining committed to meeting our policyholders’ needs,” he said.

Founded in 1963, Philippine Prudential remains an industry leader in innovation and growth in the life insurance industry in the country. 

“It is a reputable 100 percent Filipino-owned financial services company committed to providing the best financial advice and diversified and affordable products such as endowment plans, whole life plans, group and permanent plans, healthcare coverage, educational and pension policies and credit life insurance to its valued clients through its multiple and accessible distribution channels, through a nationwide sales office network manned by over 1,200 sales agents and employees,” he said.