Loyola Plans Can’t Sell New Pre-Need Deals After It’s Placed Under Conservatorship
One of the most well known pre-need companies in the Philippines has been placed under conservatorship, a form of control by the government to protect the company’s clients, following its failure to meet the minimum capital and other requirements mandated by law.
In a decision, the Insurance Commission said Loyola Plans can no longer sell new education, life and pension plans but must continue servicing its existing clients.