The announcement from the Insurance Commission that Danvil Plans Inc, formerly known as Family First Inc., has been placed under liquidation effective December 2014 did not come as a complete surprise. It was actually anticlimactic, coming as it did after the company’s staunch fight against being branded a scam and heavy criticisms for its aggressive marketing strategy to entice people to become planholders. The company basically offered pension plans with insurance benefits that catered to the human need to feel secure in the future.

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Our Family Treasure

Our Family Treasure – those were the words printed on the folder that contained the policy of each planholder. I’m not exactly sure how the policies were presented when Family First Inc. became Danvil Plans Inc. The money invested in this pre-need product with the promised expected returns after ten or more years was expected to be such. I’m sure everyone who left the company’s many offices scattered in malls all over the country holding a similar folder like mine above, thought of it in the same manner.

For all intents and purposes it was intended to be a treasure, no matter what amount it was. It formed part of a dream to feel secure given the many eventualities that can happen. The last thing a planholder would want to hear is that the company guaranteeing this feeling of security has gone under, just like what happened to Danvil Plans Inc.

The Race to Make a Valid Claim

With the reality of the demise of Danvil Plans Inc and its liquidation under way , planholders have no other recourse but to make sure that they make a valid claim. This is in the hope that they can still get the maturity amount promised to them or at the very least get the money they paid with corresponding interest. The Insurance Commission has issued a statement that the trust fund of the company is intact with trustee banks and that funds will only be withdrawn for the purpose of paying benefits of planholders.

However, a deadline has been set for July 30, 2015 for all planholders to file their respective claims. It is of utmost importance therefore  for everyone who has a valid claim to act swiftly before time runs out. It is a good thing that I read this announcement while I was searching for information about Danvil Pans Inc online.

How to Make a Danvil Plans Claim

 

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1. Find all your original documents related to Family First Inc/ Danvil Plans Inc transaction.

2. Submit photocopies of the following:

a. policy face page or affidavit of loss

b. contract of provision or affidavit of loss

c. certificate of full payment

d. 2 primary IDs (passport, driver’s license, PRC ID, company ID, student ID) and cedula or 1 primary and 2 secondary (voter’s ID, senior citizen,              postal ID, TIN) valid IDs and cedula

e. special power of attorney to claim check (when applicable)

f. deed of assignment to change payee name and/or to claim check (consularized deed of assignment if planholder is out of the country)

3. Submit to:

   The Office of Atty Rony D. Togonon-Liquidator (rdtlaw21@gmail.com)

   2/F PPSTA Building 1

   419 Brgy. Lourdes, Banawe cor Quezon Avenue,

   Quezon City

   Contact Numbers:

   (02)232-0671 to 72

   09164552116

   09186689058

   Office Hours: 8 am to 5 pm, Monday to Friday

4. Check updates as provided in the website www.insurance.gov.ph

5. Be ready with the original documents since they will need to be surrendered when claiming the check.

My Say

After all the above have been done, there is nothing left to do but wait and pray that Danvil policy holders, including myself, do not end up waiting in vain. I still remember the day I got my Family First policy. It was the first time I went out after giving birth to my son in year 2000. I went to Festival Mall Alabang to buy something for my baby and was “ambushed”along the way by Family First representatives.

I had no intention whatsoever of getting a pension plan but as it turned out, they caught me at a very vulnerable time. My husband and I were making plans for our family because of our new baby and the promise of a ready fund in the future appeared very sensible at that time. I was supposed to get the maturity value of that investment this November of 2015 and then this happened. To say that this is heartbreaking given the very difficult economic situation at present is clearly an understatement.

I hope the Insurance Commission will make it right for the planholders whose only fault was to have the audacity to dream of a more secure life.

Read about the latest updates on Danvil claims as well as the 1st batch of payees here.

Danvil Claims Batch 2 Update here