Education Plans [Merged]

[Fairy_nd_meadow]

Well, para sa high school educ plan ng anak ko I have Pacific Plan, pero old plan yun, as in choose the school and they will pay for the tuition, hindi sya cash basis na ma re recive mo. Problem nga eh wala ako sa Pilipinas kaya di ko rin magagamit. I was thinking balik sa Pinas anak ko pag high school tapos balik ulit sya Canada and then mag high school ulit for a little more time (mas mahaba kasi dito) para dalawa graduation nya. Ang gulo. Ewan ko.

Sa College naman I have two - Philamlife - cash basis din every semester, and ACE Plan ng Himlayan, cash basis din every sem. So hopefully kaya nang mag aral sa Ateneo :D , pero kung ayaw nya sa Pinas mag aral, bahala na ang OSAP ng Canada, basta target nya Univ of Toronto. :D Pero plan ko pag aralin din sya sa Pinas tapos pagbalik nya ng Canada mag aral na lang sya ulit, para either countries may career sya. :cool:

[smokindubi]

What's the best provider for your childs education plan??

I'm currently in the dark on what to get -- CAP, Prudential, etc

any suggestions??

also is it worth getting a plan for High School too or shall i just get the college ones

[ellendear]

Don't bother to get neither CAP nor Prudential. CAP became controvertial lately. Prudential will be dissolved in a year's time. I got Pacific Plans for my elder child and Sunlife for my other kid.

[CraZyInLuV]

ellendear,

what's the diff between pacific plans and sunlife? which would you recommend? i want to get an educational plan for elementary and secondary only. approximately how heavy is it monthly?

sorry, i just don't want to ask an insurance agent kasi ang kulit nila once you ask. thanks! any info will be welcome

[strawberyl]

sunlife and manulife are ok

[smokindubi]

eh yng Provident Plans ok b??? :confused:

[mp100]

why not try philamlife?
im an employee n not an agent so if you are interested i can give you a quotation. pm me if yur interested.

dont worry d kita kukulitin =)

[pagma_lilip]

i got the feedback the philamlife gold plan is good...:)

[chix2003]

my daughter has Philamlife...iyong Scholar Gold nila. ask for a brochure and you'll be impressed. ;) :)

[tina11]

Originally posted by ellendear
Don't bother to get neither CAP nor Prudential. CAP became controvertial lately. Prudential will be dissolved in a year's time. I got Pacific Plans for my elder child and Sunlife for my other kid.
i've heard about CAP having questionable investments but is it true that prudential isn't stable? my brothers and sister have prudentialife education plans :(

[avacamille]

fairy nd meadow i have a suggestion to you why dont sell your educ. plans na lang dito sa pilipinas? since im an agent in selling educ. plans mabilis mabenta lalo na pag ready to use na. in that why hindi ka na mag iisip kung pauuwiin mo pa ang bata para lang magamit ang plan. email me na lang kung interested ka i sell plan mo ava_camille@yahoo.com

[avacamille]

CAP is still stable hindi true ang rumors na pa bagsak na sila. A year ago i graduated using my CAP plan.

CAP and TPG(PROFESSIONAL) offers the best educational plan. TPG has a 5yr course plan kung di magamit ng bata yung isan g taon pwede mo pa ito paki nabangan ng kapatid nya o di kaya ibenta mo pa.

anyone interested in buying educ. plans both highschool and college email me at ava_camille@yahoo.com

[season]

Originally posted by Fairy_nd_meadow
Well, para sa high school educ plan ng anak ko I have Pacific Plan, pero old plan yun, as in choose the school and they will pay for the tuition, hindi sya cash basis na ma re recive mo. Problem nga eh wala ako sa Pilipinas kaya di ko rin magagamit. I was thinking balik sa Pinas anak ko pag high school tapos balik ulit sya Canada and then mag high school ulit for a little more time (mas mahaba kasi dito) para dalawa graduation nya. Ang gulo. Ewan ko.

Sa College naman I have two - Philamlife - cash basis din every semester, and ACE Plan ng Himlayan, cash basis din every sem. So hopefully kaya nang mag aral sa Ateneo :D , pero kung ayaw nya sa Pinas mag aral, bahala na ang OSAP ng Canada, basta target nya Univ of Toronto. :D Pero plan ko pag aralin din sya sa Pinas tapos pagbalik nya ng Canada mag aral na lang sya ulit, para either countries may career sya. :cool:

You can try and sell the plan. Or still claim from Pacific yung average tuition fee ng school na dapat mo sana siyang ipasok. Try calling or emailing them. Sayang din the money.

[cloud7]

just keeping this thread alive. im also interested with new replies.

[junjani23]

mp100....*** ba may ari ng philamlife?

[mp100]

aig po. sa new york po ang head office

[junjani23]

mp100.....
kasi yung friend ko **...sabi niya sila ang may ari ng philamlife insurance dyan sa makati...
ANTONIO ang last name nila....

pano yun?

[mp100]

he might be confused.

we have an agency manager surnamed Antonio. i think he has offices in makati.

philamlife is owned by AIG. pls check the manila bulletin yesterday, nov 14. The business section B-3. a photo shows our CEO joey cuisia receiving our iso certification.

[tyanak_me]

correction, philam is a philippine insurance company allied with AIG, which is basically a credit company.

[bagyoboy]

Is there a body that regulates preneed companies where we can check their financial standing?

[mp100]

m not sure kung IC (insurance commission) located at UN ave or SEC that regulates pre need companies.

[junjani23]

pm..pwede din lang sila ang may ari ng branch sa pinas?
kasi confirmed na sila nga daw ang may ari ng philamlife...

pero wag mo na ask *** manager ha? kakahiya naman...

[merryjaned]

Is is true that Prudential Life will be dissolved next year?
Kasi I've attended some of their seminars and I think they have pretty stable investments.
We got Prudential Life for my nephew because I was impressed with their packages. They can offer you a plan according to your budget and they have this offer that you can get your money back ten years after the child graduates.

[ChiQui]

I'm a new parent and my folks never got an educational plan for me so I really have no clue as to what educational plans are and how they work. I've a couple of questions...

1. How does it work?
2. How much do I have to pay?
3. Are there any plans that will cover for my child's education if she decides to study abroad?

[merryjaned]

An educational plan basically takes care of your child's tuition fee for college. Its just like insurance where you have to pay the premium depending on your chosen program. There are different programs offered by different companies. So you just have to scout around for the best offer that would fit your needs.
With Prudential they can offer you a plan depending on your budget or depending on what you think your child will need for his college education. The premiums are computed per unit basis. Mode of payment: annual, quarterly, semi-annual.
On maturity, tuition fees are on cash basis and you can get it as early as January, siyempre it depends on the plan that you choose. I attended a seminar of Prudential kasi for my nephew, tried to compare it with Philam. If you want more info. you can email me at merryjaned@yahoo.com :)

[unlikelyme]

Originally posted by ChiQui
I'm a new parent and my folks never got an educational plan for me so I really have no clue as to what educational plans are and how they work. I've a couple of questions...

1. How does it work?
2. How much do I have to pay?
3. Are there any plans that will cover for my child's education if she decides to study abroad?

Ang brother ko ay philam life educational plan ang kinuha niya para sa anak niya, dollar, dahil mas stable ang dollar kaysa peso. At isa pa pinaka-stable ang Philam life sa halos lahat ng insurance company diyan sa Pinas, affiliated pa ng AIG. Tungkol sa tanong mo, masasagot yan dito sa http://www.philamlife.com/philamplans/Whatweoffer/education.html at kung sakaling may tanong ka pa o gusto mo ng quotation ay tawag ka sa Philamlife Binondo branch sa stateland bldg at hanapin mo si Sally na agent (siya din 'yata' ang unit manager ng Stateland Binondo Branch) ng bro ko. :) By the way, yung unang question mo swak na swak doon nasa net. Nasa right side, middle part ang educational plan.

Pagkaka-alam ko Insurance Commission din ang nagre-regulate ng mga pre need. Located nga siya sa UN.

[foxman74]

Talaga bang mawawala na ang prudential? My wife and I were thinking of getting Pru Educ. plan for our daughter. Buti nalang nabasa ko itong thread na to. Alin ba talaga ang best plan and why?

[unlikelyme]

Payo lang na bukod sa paghahanap ng palagay ninyong pinakamagandang educational plan para sa mga anak ninyo ay siguraduhin din na ang agent na makukuha ninyo ay CAREER AGENT at hindi pang ONE DEAL lang.

[mac_bolan00]

i decided not to get a college plan for my daughter. they're all standardized now, with a 5.5% IRR --could go even lower. you could get much better returns with 5-year time deposit accounts.

the only advantage the plan has over a TD or t-bill is it has an insurance component (don't know how to valuate that). anyway, i'm already up to my neck in life insurance policies. right now, i'm more useful dead than alive. :lol:

[roxyd3428]

am considering

sunlife
manulife
provident
loyola

would very much appreciate feedback.

[goodsamaritan55]

Education Plans were a better deal 20 years ago when there were much more children born per family than today.

It's a pyramid thing like SSS.

Today, there are less children being born. There are more education plan companies offering the same services for the shrinking pie of possible customers.

This means that the education plans business is not viable if they were to charge the same low rates 20 years ago. They would have to charge an extremely high rate to be able to assure themselves of the money self perpetuating invested in some safe haven in the rates the investment banks can offer.

My brother is an actuarian and he analyzes quite convincingly that we ourselves as parents can do a better job of saving and investing that money for our children. It might be better for you to get yourself life insurance instead.

Evidence: 2 weeks ago, CAP was the big news regarding the insufficient on hand capital of only 8.x billion pesos which does not match a future maturing 17.x billion pesos in obligations to its members. CAP is looking for banks to re-assess its real estate assets and is looking for foreign investors to bail them out of their mess.

I personally would not get education plans. But if you feel you don't have the discipline to save, then choose one. The better choice would be the company with the most stable future. Stable, meaning they have other income streams just in case their education plan unit fails to live up to projections.

Your time horizon: Will the education plan company still exist in 15 years? Will it be able to pay its obligations in 15 years. I don't have a crystal ball.

[LaTtE`M]

Philam Life's program offers great promise, in my opinion, specially if started at the zero age.

The special quirks of the plan that was most attractive was that if the principal were incapacitated or otherwise disabled, or dies before the child reaches 16 (when you start receiving the money from the plan), Philam Life will give educational support to the child immediately; for an amount around half of what the child would be receiving for college taking into account the percentage interest per annum stipulated in the contract (the actuaries would be much better explaining this). So it's a sort of educational life insurance for the dependents of the principal.

I'll be availing it once my baby is born. :)

[mac_bolan00]

all the educ plans closely copy each other in terms of return. no matter what it features (redemption if the parent dies, if the child dies, residual after college, etc.)

all the plans are the same as putting your money in time deposit at 5.5% compounding every year.

[Fairy_nd_meadow]

Here's a related thread:

http://server3.pinoyexchange.com/forums/showthread.php?s=&threadid=131251&highlight=educational+plans

[mytitagirl]

yung mga kapatid ko CAP nung 15 years ago, kaso super mahal na ngayon.

anak ko kinuha ko manulife dahil friend ko agent.

pero i agree kay LaTtE`M, parang maganda ang PhilAm Gold ata, lalu na if zero age.

pero we also started an ITF kiddie savings account sa UOB at BDO na hinuhulugan at walang withdrawal until college age na siya.

[roxyd3428]

mytitagirl ,

an ITF kiddie savings account sa UOB at BDO na hinuhulugan at walang withdrawal until college age na siya.

how does this work? how do you open one?


thanks again :)

mejo leaning ako towards prudential because they also have a co-plan holder benefit. when something happens to your coplanholder your premiums will also be paid. mukhang ok.

but form the other thread i heard d daw ok prudential? are they an affiliate company of the bank?

[mytitagirl]

personal promise lang ang walang withdrawal. wala naman sa contract.

yung ITF, lahat kasi ng minor required na mag-open kasama parent or adult tapos meron "In Trust For" form na meaning sa anak ko account kasi ako nag-open at signatory.

account holder na ako sa both banks kaya wala na documents hiningi, pero sa first-time clients ata kailangan photo at proof of id...

meron freebies sa UOB: discount card sa stores at birthday gift

di ko alam tungkol sa prudential.

[neobe]

Philam Life kinuha namin for my son kasi we found it better than Sunlife and Ayala. Di ko lang sure yung iba.

Yung CAP nag-offer ng traditional plan, i.e., you pay a certain amount and then kung magkano man yung tuition paglaki niya, yun yung babayaran ng CAP. Kaso sobra mahal yung plan na yan.

Yung sa Philam, money ang makukuha mo. So kung pagdating ng araw eh mas mura tuition ng anak mo, kuha mo pa rin yung extra money.

We're paying around 63,000 a year for 5 years. By the time mag-16 yun anak ko, he'll be getting 200K per year. Yung principal sum (around 300K), makukuha uli paggraduate niya. May monetary gifts din pag graduate with honors.

Tama rin sabi ni LaTtE`M, in case may mangyari sa plan holder, magsusubsidise ang Philam to make sure makapagcollege ang beneficiary.

[wannabe_bride]

its really good if u get an educational plan pag zero yung age ng bata.. mas cheaper yung premium mo.. anyways, i got a loyola educational plan.. almost the same *** ng philam gold.. if ever the plan holder dies (wag naman sana kase ako yun) may makukuha kang benefits even though di mo pa tpos bayaran yung plan.. its sumwat like a life insurance na rin.. good luck in choosing!

[goodsamaritan55]

Pre-need industry seen to consolidate
by Ted P. Torres
Philippine Star - July 23, 2004

The Philippine Federation of Pre-need Plan Companies Inc. (PFPPCI) is planning to introduce a so-called mid-step consolidation method to strengthen the local pre-need industry.

PFPPCI president Juan Miguel Vazquez said a mid-step consolidation method is more like a form of outsourcing wherein members could help each other by reducing operational costs through the formation of a backroom operations or collection system.

Through these schemes, pre-need companies can share costs or swap equity or sell equity for services, Vazquez added.

Vazquez said that industry players remain hesitant to admit their difficulties in maintaining a competitive pace in the pre-need industry, which has been in the doldrums since last year.

Vazquez explained that everything remains in the discussion level as the industry sought solutions to higher capital requirements and low investment returns.

Other players said that it was a more "subtle and painless form of consolidation and merger."

The federation chief stressed that the industry is healthy despite weakness of some players.

The pre-need industry must be assisted and guided by a strong regulator, and that strong regulator must be mandated by law.

A proposed pre-need code had bee introduced recently for congressional approval. But it never got past the committee level and federation prays it would be refiled soon.

Legislators who had supported the proposed legislation were Rep. Jesli Lapuz, Jose Salceda and Sergio Osmena III.
---------

Analysis: Pre-need at your own risk.

[AshleyMitch]

I got Philam Plans for my son. I found it better compared to CAP and other companies kasi sa Philam, any school will do. Unlike pag sa CAP ngayon pa lang choose ka na what school. Depending on the school you have chosen if it falls on Category A, may bracket dun if how much ang babayaran mo. Sa Philam kahit saang school at pde ka pumili depende sa budget mo at pagdating ng time na mag College n sya ikaw mismo ang kukuha sa Philam nung pambayad. And after graduation, you'll get all the amount you have paid for the Edu Plan.

[lizisrael]

My husband and I availed of a Philam educational plan for our son at zero age. I was convinced about the benefits that it covers. In the event that something happens, to me, my son will be getting something from the plan and the educational plan will be considered as paid in full so I got it. Maraming benefits na nakalagay dun sa plan. We're gonna get him another one for grade school and high school. Although medyo mahal na since he's already considered at 1 year of age, worth it na rin to give our child a secured future.

[roxyd3428]

thanks for all your replies ...=)
am down to choosing among philam, loyola and prudential.

here's some info that might be useful when considering a educ plan

Top 15 Pre-Need Companies
(in Gross Contract Price)

Rank Company GCP
1 Philam Plans Phils Inc. 7,104,167,463
2 Prudentialife Educ Plans Inc. 5,055,782,876
3 CAP 4,246,883,540
4 Pacific Plans, Inc. 2,488,296,275
5 Loyola Educ Systems, Inc. 2,240,952,616
6 Manulife Financial Plans, Inc. 1,566,361,113
7 Berkley International Plans, Inc. 1,549,953,195
8 SUN LIFE FINANCIAL PLANS, INC. 966,986,289
9 Platinum Plans Phils., Inc. 960,681,894
10 Eternal Plans, Inc. 894,589,369
11 Ayala Plans, Inc. 838,290,543
12 TPG Corporation 773,915,308
13 Pet Plans, Inc. 657,906,828
14 Provident Plans International Corp. 510,117,961
15 St. Peter Life Plans, Inc. 434,254,000



Top 15 Pre-Need Companies
(in Initial Cash Brought In)

Rank Company ICB I
1 Philam Plans Phils Inc. 869,647,110
2 Prudentialife Educ Plans Inc. 641,742,092
3 Pacific Plans, Inc. 438.387.405
4 CAP 432,580,255
5 Manulife Financial Plans, Inc. 156,234,414
6 Ayala Plans, Inc. 140,751,005
7 Berkley International Plans, Inc. 137,898,960
8 Eternal Plans, Inc. 107,462,686
9 SUN LIFE FINANCIAL PLANS, INC. 97,718,910
10 Platinum Plans Phils., Inc. 91,562,299
11 Pet Plans, Inc. 76,134,449
12 TPG Corporation 75,908,869
13 Loyola Educ Systems, Inc. 74,097,750
14 First Union Plans, Inc. 35,755,083
15 Permanent Plans, Inc. 33,330,771

[anna_faye]

im looking for a college educ plan for my 1 yr old baby. any agents here pref philam plans ...

[goodsamaritan55]

Just out in the news today.

At least 2 universities' boards have decided NOT to accept certain education plans because of delayed payments.

Check with your target universities first if the education plan you wish to enroll your child in has been diligent with payments.

[orano]

We got a Philam educational plan for our first born - age 0. We're paying around 54k annually and then when she gets to college, she'll receive 70k/sem. It may not be enough during that time pero kung sweswetihin na sa UP sya (at mura pa rin sa UP!) eh pwede na, hehehe! 1 year down, 4 years to go!

We know na mas malaki siguro kung i-invest namin yung money sa ibang high-yielding investments, pero ang tiningnan namin eh yung insurance part nya. Whatever happens to the payor, assured na makakapag-college ang baby namin. :)

[cheezwiz]

Originally posted by anna_faye
im looking for a college educ plan for my 1 yr old baby. any agents here pref philam plans ...

hi there! i'm currently affiliated with philam plans.
i can send you a sample proposal if you wish.
you can get in touch with me at this email addy: red_equinox@hotmail.com


:)

[bluemoon88]

Prudential Plans the best!!!

My parents bought me an exclusive educational plan for just 100k. I was just 11y/o then.

Im studying at dlsu-csb. our tuition averages from 30-35k per trimester (x 3= 90k+ per year) that was 4 years ago. Now, the tuition averages at 45k+.

So imagine on my 1st year pa lang bawi na kame. what more on my 2nd,3rd & 4th year?


after 10years, babalik yung 100k that we paid for. :)

[bek115]

hi, is there anybody who is interested in buying a fully paid plans?
i have high school plan, for non-exclusive school. under this category are ust, st.james college quezon city/paranaque, pasig catholic college, cainta catholic college, la immaculada school,etc. this is a traditional plan.

i also have college plan non-exclusive also good for ust, mapua.this is a 4-year college, traditional.

contact me at my email address rma1624@yahoo.com or text or call me at 0919-4542493

[yanibanani]

just think about this...ateneo doubles its tuition at a rate of 7 years. In 1997(my time), it was 25K per sem...ngayon 2004, 50K na....anak ko is 3 years old...by the time he is 17, ateneo tuition will be 200K per sem...more or less, i need to prepare 1.6M - 1.8M....that is if they increase their tuition that way! Meaning, i have to have a plan that has a maturity of a max of 2M if i plan to send him there and if matanggap sha..hehe

[abe05]

hindi po regulated ng Insurance Commission ang mga pre-need companies, sa pagkakaalam ko, correct me if i'm wrong. sa SEC lang po yata.

ako rin, gusto kong kumuha ng educ. plan for my baby, malapit na siyang magone year old eh.

[mybabyching]

my mom works in philam life she's a financial consultant and ang masasabi ko *** ok sa phil am life kahit anong klaseng insurance meron and hindi ka pa mahihirapan mag explain kasi stable na 2ng company na 2h and for 57 consecutive years no. 1 pa rin ***...dba ok? if ur interested email me mybabyching@yahoo.com
thankx hope to hear from u soon:)

[beautiful_casey]

pede pakilinaw po *** sa prudentialife?! i've been paying more than a year na kc...

[moonshine]

meron pa bang educational plan na hindi cash basis? yung tipong choose your school and the company will pay for it. eto ang mga kinalakihan kong educational plans (all 4 of us finished college using plans like this) so di ko alam itong cash basis na new plans tapos lahat parang may ceiling. parang di na masyadong worth it tuloy bumili.

[Nightstalker]

^ wala ng nag ooffer ng ganun. you see, pre-need companies make money by investing the money that you give them in trustee banks. they then take their share of the money and pay for your childs future by the time it matures. banks interest rates nowadays is much lower compared to say 15-20 years ago. Also, tuition fees nowadays increase at around 13% per annum (if not greater).

Those who have plans with prudentialife have nothing to worry about.

For CAP planholders, brace yourselves...

[sphynkie]

To those who is really planning to get an educational plan, i could get you as much as 48% off, just let me show how, and you'll be amaze........pm me.

[Jared523]

Dahil sa nangyari sa CAP, marami na ang nawalan ng tiwala sa educ plans. Pero may iba pa naman companies na ok. Kung ang anak niyo ay magcocollege na at gagamitin na ang plan agad, mas maganda na lang bumili ng matured o ready to use na plan. May mga nabibili naman na ganyan. O di kaya ay bumili na lang muna ng partially used na plan. *** may 2 years na lang na natira para sa ganon di masyadong malaki *** cashout and then magagamit na agad. Sa pangalawang sem bawi na un nilabas na pinambili ng plan. Msg niyo ako kung interested kayo. tnx.

[DJQuimby]

CAP rules !!!

[queen slice]

Wala!!!!!!!!

Piece Of Advice Keep Your Money In The Bank Much Better.

[tagaAplaya]

529 College Savings Plans
http://flagship2.vanguard.com/VGApp/hnw/content/AccountServ/College/ATS529CollegeOVContent.jsp

http://personal.fidelity.com/planning/college/college_frame.html.cvsr?refhp=pr

[tolstoy]

the best plan? it really is a combination of factors

first... get only a fixed value plan, anyone saying that the company will pay for the actual tuition fee in the future is definitely going out of biz... just read the papers

second... get only from the big ones. there are only a handful. do not talk to the small ones... they will give you fantastic projections on returns, etc.

third... get from a professional sales consultant, someone who will show you
options and tell you what you are missing out on if you get this over that.

lastly... get an education - actually a savings plan... only after you have acquired a life insurance policy... at best the savings plan should include some form of term insurance.

ask yourself this... "if i just flipped over tonight", or "wake up disabled"
- who will pay for the upkeep of "juinor" and "baby"
- only then will education come in...

the best plan... "is to act now and get your show on the road"

[sunshinier]

i bought an open-ended plan from TPG (the professional group) for my brother..he was able to use it last year (1st year in UST) then this new school year, after the pacific plan fiasco, the educ benefits from TPG have been delayed by more than 4 weeks...it only took them 2 weeks at the most to process the check previously...the most worrying thing about this is after waiting for more than 4 weeks and after threatening them to go to media about this, they finally gave out the check which was only 25% of my brothers tuition...kakapikon talaga..esp since i was the one who paid for the plan..

[alliyah]

hello!!!! what can u say about the metrobank easy tuition? anybody na meron nito please share some thoughts and how about sa other banks na merong same program for our kids future. . . please share naman coz im planning to get an educ. plan for my 5 yrs old daughter ... mas safe siguro if sa bank kesa sa ibang pre need company

[morrissey_05]

keep your money in the bank na lang. the pre-need industry is in such a big mess these days. even in the US, ppl are predicting an imminent collapse.

[liza_zam]

if you're a bit hesitant about the pre-need company's status right now, invest mo na lang pera mo sa bond funds or mutual bonds ng mga banks. Or if you want, t-bills na lang or time deposit. malaki yung returns ng pera mo kung di mo gagalawin for a couple of years.

[DaNa8]

^^^
Yup, mas maliit interest sa bank even time deposits. You can try Mutual Funds offered by Philam or Sunlife. Banco de Oro's UITFs also have high yields which reached 11.42% for 9 months. It started only April of last year. You can go to the Working Filipino forum for more info.

[alliyah]

thank u :D

[baileylab]

personally, i really dont believe in educational plans. You plunk in your hard earned money ON TIME (if not - goodbye plan) and have to raise hell to get the money back. Just put up a trust fund for your kids. For example, if they are 3 years old now, make the trust fund available when they are say, 12 yrs old - for a high school fund etc. Do you need someone to breathe down your necks to religiously make a payment? make a commitment to put money in the trust fund. Just to be sure talk to an insurance agent & have her make the computations & talk to a bank and let them make computations as well. Discipline is the key word.

[more]

All of this plan are good I think.But I did the other way I start saving the moment my child was born. I started with small amount and as years went by I change the amount we save. We never touch or borrowed from this college fund that we established for our kids. It's been a while and I'm still continue our savings. Now that we need the fund for college it's there and we don't need to worry much where to get the money it's there. if we did not save for the kids education, we have to mortgage our house so our kids can go to college. It's very expensive to send your kids to college especially here in the states. in Private university it will cost you $32,000.00-$39,000.00 a year depending which college or university. in Public University like UCLA or any UC university it will cost you around $23,000.00 plus a year. That's why there are so many Pilipino Parents send their kids in Philippines to get their higher education which make a lot of sense. *okay*

[kennster]

this is also my dilemma right now, im really intent on getting my daughter a plan but i don't know if we can still trust pre-need companies after what happened to cap and the others who failed to pay their plan holders.

is there an altenative other than time deposit and mutual funds?

[Showtime]

Pre-need plans have low Internal Rates of Returns. Imagine asking me to fork over huge sums which will only earn me a measly 5.5% on average? I can get better returns by establishing a personal savings plan. Thru diversification, one can invest in 5-year tax-exempt time deposits, retail treasury bonds, and mutual funds which can give higher yields with lower risk. Everyone talks about how the cost of education has gone up by 12-15% per annum since tuition was deregulated, but at that rate no one will be able to afford to study after another 15 years. My bet is that the average increase should be around 8%. I would rather be wrong than have my money down the drain because my pre-need company was wrong.

The only advantage a pre-need plan would have over a personal savings plan is insurance which means if something happens to me my child's education is secure. However, you can buy term insurance yearly (something like 3k annually for a million bucks of coverage). If something happens to you then your wife and kids get the money and they can invest in worry free government securities to keep it growing until it's time to go to school.

Hope this helps...

[moonster]

may mga kumukuha pa ba ng mga educational plans ngayon..? just wondering.. tahimik na tong thread na to eh.

when's the best time to get one for your child? and what's the best plan to get?

[icee_star]

mommies, do you think its still advisable that we get Educational Plans for our kid/s inspite of all the issues encountered by some plans provider like for example CAP?

if so, where could you recommend to get an Educational Plan which you think will last?

Is Philam

i need comments..thanks! :bashful:

[icee_star]

Is Philam



its supposed to be
Is Philam ok?
:D

[DaNa8]

There's already a thread (http://www.pinoyexchange.com/forums/showthread.php?t=131251&page=2) about this topic.

Personally, I'd rather invest my money in Mutual Funds/UITFs. Mas malaki pa kita ng pera mo and with shorter holding periods.

[peeyaa_ganda]

sa baby ko.. naka philamlife sya under dollar account
peso kasi nagdedepreciate, dollars nag a-appreciate
magkano na dollars after 15yrs diba?
tied up ang phliam sa AIG, kaya ok sya
makukuha ko parin sya kahit sa states mag aral anak ko
may 12k dollars din na grad gift

[peeyaa_ganda]

ashley mitch... ang alam ko sa atm ang bayad ng philam per sem, kaya kahit nasa ibang bansa ka, ganun mo din makukuha... tapos may grad gift

mommy moon... pinakamura kumuha kung age 0... 0-6months

kakukuha ko lang sa baby ko e... hinabol ko yung 6months

like what mommy lizisrael said, kung may mangyari sa payor (any form of disability) kahit di pa tapos bayaran, it will be considered paid in full, tapos may makukuha ang anak nyo ng amount per sem kahit gradeschool pa sya

[dalee]

hi peeya_ganda, me dollar accct ***?! hanggang 6 mos *** ba yun mura, kala ko til 1 yr...ask ko lang magkano bayad mo para mapagisipan... 5 mos na si baby ko e. thanks.

[peeyaa_ganda]

iba iba rate nila e, depende sa budget... yung akin yung tama lang....
5months palang baby mo... abot yan 0 age... magka age pala babies natin! hihi
yup til 6months lang... 6months and 1day is consider 1yr old
anyway...
yung annual nung akin... $1,497
semi annual... $809
quarterly... $435
one time payment... $7,270

5yrs yan

pwede ka pa humingi ng mas mababa or mas mataas jan

pwede ko ibigay yung contact ng agent ko if you want... pm me lang

[rational]

Hello. As a victim of both CAP and Pacific Plans, I am surprised that anyone would even think of owning any preneed plans. Do so at great risk.

I have a question sana. That was a group of parents who were actively fighting Pacific Plans. They called themselves the PEP Coalition. They used to have a website but it seems to have vanished. Anyone know how we can contact them?

[slamm]

There's already a thread (http://www.pinoyexchange.com/forums/showthread.php?t=131251&page=2) about this topic.

Personally, I'd rather invest my money in Mutual Funds/UITFs. Mas malaki pa kita ng pera mo and with shorter holding periods.

Ditto... i was faced with the same dilemma and i decided to put it in a mutual fund (Philam). Better returns and more flexibility on whether you want to be conservative or aggressive on the investment instruments.

[it_must_be_me]

Hello. As a victim of both CAP and Pacific Plans, I am surprised that anyone would even think of owning any preneed plans. Do so at great risk.

I have a question sana. That was a group of parents who were actively fighting Pacific Plans. They called themselves the PEP Coalition. They used to have a website but it seems to have vanished. Anyone know how we can contact them?

If I can remember it correctly they moved to www.pepcoalition.com from the blogspot site.

Yes, my parents were victims of boht CAP and Pacific plans. I'm not getting any financial support and my education is becoming a burden for my parents because I chose a school with surprisingly high tuition fees.

[rational]

If I can remember it correctly they moved to www.pepcoalition.com from the blogspot site.

Yes, my parents were victims of boht CAP and Pacific plans. I'm not getting any financial support and my education is becoming a burden for my parents because I chose a school with surprisingly high tuition fees.

Looked at that site but it's just some kind of domain name vendor. The last I heard, they were giving out money from Mark Jimenez.