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July 9,2005
Cocoplans: Giving due benefits on the day promised
"Cocoplans is and will always stay committed to give the best protection to our planholders. That is the ultimate responsibility of our company and of any pre-need company for that matter. We acknowledge the trust and confidence that our planholders have given to us and in return, we give them the best products and service as well as a rock-solid dependability of their due benefits on the day promised," said Caesar T. Michelena, Cocoplans President.
Cocoplans planholders are 100 percent assured that the company will give them their due benefits on the day promised as Cocoplans prepares three months in advance for the maturing plans. This commitment is further strengthened by the recent Securities and Exchange Commission's issuance of the company's permit to sell additional 250 million worth of education and pension plans.
Planholders are also guaranteed of Cocoplans' triple protection with Cocolife as its insurance underwriter, the United Coconut Planters Bank as its trustee bank, and of course, Cocoplans itself. Cocoplans has 150 million unimpaired capital stock, double the amount that the SEC requires.
One thing that separates Cocoplans from the rest of the pre-need companies is that it never sold traditional plans or open ended plans. Since it started selling pre-need products in 1994, the company only sold fixed value education plans, thus Cocoplans is not experiencing and will never experience the problems that may be facing other companies at the moment.
"We give high importance to our trust fund because we know that this is our planholders' hard-earned peso. Every month, we never fail to deposit a certain amount to our trust fund," adds Mr. Michelena.
More than 90% of Cocoplans' investments are in government securities. A small percentage is invested in real estate in the form of memorial lots, the values of which continue to increase in time.
Cocoplans was recognized by the Consumers Union of the Philippines and the Parangal ng Bayan Foundation as the Most Outstanding Pre-Need Company for 2004 and 2005, respectively, a fitting recognition to the company's unfaltering commitment and exemplary service to its planholders, placing them amongst the best protected in the industry.
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