Permaplans planholders in Revolt!

May 6, 2009 § Leave a comment

A distressed pre-need company is giving health products, slimming teas and coffee to thousands of its planholders. Permanent Plans Incorporated, owned by Juan Miguel Mardrigal Marquez is giving food stuffs and health products to its planholders after it encountered serious financial problems. Planholders are now up in arms. They want their money back and they are thirsty for justice.

Last April 27, Marquez’s  Baguio-based thrift bank was ordered closed by the Central Bank after failing to resolve deep and long-standing financial obligations coupled with ownership dispute problems. Depositors of Accord Savings Bank were left in the lurch. Yet, the PDIC assured depositors that they will do everything possible to ameliorate the plight of bank depositors. Right now, planholders of Permanent Plans Incorporated have taken the company to task for diluting their trust fund.

Permaplans owner Marquez admitted that the trust fund does not have sufficient funds and they are hard-pressed to comply with financial commitments with its planholders.

Permaplans offer non-life and life insurance to thousands of Filipinos based in Central and Northern Luzon. Most of its planholders are market sellers, small entrepreneurs, soldiers, policemen, priests and vendors.

Planholders who sent numerous emails to NPR said they want their monies back. One planholder who is entitled to a 5million peso insurance money said Permaplans is just giving her a burial lot in Payatas and some health supplements. She wants her investment back.

Permaplans planholders are up in arms against the company owner. They will reportedly stage a revolt in Luzon because of how the company reportedly gypped them into investing into the company only to find out that the trust fund had been diluted.


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