July 01, 2008

Cocoplans launches ACE program

In order to answer immediate big ticket needs of some planholders, the Customer Service Department (CSD) has launched Accelerated Cash Entitlement (ACE) Program last June 01, 2008.

ACE is a program where Cocoplans planholders may accelerate the release of their cash entitlement so that they could purchase an immediate and cash-heavy need. It is directed towards planholders whose plans were fully paid with corresponding pre-maturity benefit sold from 1994 to 2005.

When Cocoplans planholders avail the ACE Program, they’ll also receive additional 10 percent cash (based on the pre-maturity benefit) as an add-on incentive. Likewise, the availing planholder will receive an extended insurance coverage for three more years starting from the release date of the pre-maturity benefit, or up to the age of 70, whichever comes first.

In a statement made by Cocoplans President Caesar T. Michelena, ACE Program will give planholders the solution to their concerns of coming out with funds that will solve their urgent needs.

“As a way of responding to the desire of our planholders’ to come out with funds that will answer their immediate needs, Cocoplans is making available a facility that would provide immediate source of funds to our planholders with additional premiums, should they avail of this program (ACE) from June 01 to August 30, 2008”, President Michelena explained.

All planholders, with fully paid plans, are given the opportunity to apply for the ACE Program during the promo period only by presenting the letter sent to them by the company, the complete set of Original Policy, original Certificate of Full Payment, Photocopy of two valid IDs with picture, Accomplished Specimen Signature Form, and One-Time Processing Fee.

The guidelines covering the ACE Program made it clear that while the program is ongoing, Policy Loan requests for plan under ACE will be suspended and no transfer of plan will be allowed.

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