According to the Insurance Commission of the Philippines, they target to release the checks of the liquidation proceeds to planholders of Prudentialife Plans before the start of classes in June.
A total of 14% to 19% of the contribution will be given back to the educational planholders once the liquidation is finally approved. In this case, when you have remitted an amount of P100,000, you will be entitled to get back just P14,000 to a maximum of P19,000.
For all pension planholders, 43% of the contributions will be returned to the planholders while for the life and memorial planholders, they will receive around 80% of their contribution.
With this kind of liquidation scheme, there will be around 40,000 planholders will get nothing from the trust fund. The Insurance Commission (IC) on the other hand advised planholders to prepare the following to claim their refund:
- Original Copy of Plan Certificate
- Certificate of Full Payment
- Valid ID
- Special Power of Attorney (for those who will send representatives)
- Valid ID of the authorized claimant
The commission have also advised the planholders to please check first the website (http://www.insurance.gov.ph/ ) before going to their office.