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September 23, 2005
Cocoplans affirms financial stability
Cocoplans, Inc., awarded as the Most Outstanding Pre-Need Plans Provider by the Consumer Union of the Philippines in 2004 and the Most Outstanding Pre-Need Company by the Parangal ng Bayan Foundation, Inc. this year, assures planholders of its stability and financial muscle.
In a statement released recently, Cocoplans President Caesar T. Michelena said, “We would like to assure all our planholders that Cocoplnas, Inc. is not experiencing and will not have problems caused by selling traditional educational plans.”
He said that since its inception, Cocoplans has never sold traditional educational plans, which wreaked havoc on other companies due to tuition fee deregulation. The said type of educational plan promises to pay its scholars’ tuition regardless of the amount.
“We really value or commitment and obligation to our planholders. This is why we set up our operations to support this commitment and fulfill our obligations. We likewise made sure that our trust fund continues to earn despite the low interest environment,” he said, referring tot the three-month preparation that Cocoplans does to ensure 100% delivery of planholder maturity benefit on the day promised, and the sound investment strategies the company has steadily employed.
The statement also declared that its almostP1-billion trust fund and P150-million capital stock is free from lien, restriction, condition or holdout. Cocoplans’ planholders are guaranteed of the company’s stability and secured financial growth as it is backed by the UCPB Group of Companies, the statement further said.
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