Any update on College Assurance Plan (CAP)?
September 29, 2008
What’s the latest on CAP or College Assurance Plan, the failed pre-need firm that left millions of Filipino pension and educational plan holders with nothing when it went down several years ago?
That’s what a few PMT members want to know in the discussion thread CAP Insurance, any experience?
Member foolcha said that CAP Pension is still liquid with enough assets in cash while the CAP Educational Plan has assets but are mostly illiquid, which means they cannot be easily converted to cash. Both CAP Pension and CAP Educational Plan are being managed by a trustee under the supervision of the Securities and Exchange Commission (SEC).
Another member, Langerhans, shared that a friend supposedly was able to get small amounts of refund on a staggered basis from CAP. Unfortunately, no additional details were provided.
Were you a CAP policy holder? How did you cope with the collapse of this pre-need firm? Have you received any refund or repayment for your policy? Or do you have any official updates on CAP?
Join the discussion here: CAP Insurance, any experience.
March 12th, 2010 at %I:%M %p
I just received a letter from senator mar roxas office saying na nagpaprocess nga ng mga claims ang CAP ngayon. Pumunta lang daw sa pinakamalapit na tanggapan ng CAP sa aming lugar at magsumite ng mga kaukulang dokumento. Hinanap ko ang hotline ng CAP para mapag-alaman ang mga kaukulang dokumento na binanggit sa sulat ngunit hindi ko makontak ang CAP….hmnnnn… nakakalungkot na marami pa pala ang hindi nakakatanggap ng mga claims, wala bang magagawa ang gobyerno tungkol dito kundi ang magpadala na lang ng sulat??
March 14th, 2010 at %I:%M %p
Bel, may confirmation na po ba na puwede ng magfile ng refund. Paki sagot lang po para makapaghanda na kami ng esposa ko bago magpunta sa CAP Makati office. Maraming salamat sa iyo, Bel!