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PMT Forum member abbeytuds shared a bit of good news about CAP Educational Plan. Apparently, all is not lost in this failed pre-need firm.

She said that she went to CAP’s Makati office this week to inquire about her sister’s claims. CAP is still alive, according to her, and although there were only very few staff there, they were accommodating.

The good news is, she was offered payment for the educational Plan ECU-A that her sister fully paid (gross price: P155,560). These were the payment options given to her.

Option 1: Tuition Fee Reimbursement

  • Maximum reimbursement per semester = P19,759
  • Total receivable amount for 4 college years = P158,072
  • Check release takes 1-2 months processing

Option 2: Plan Surrender

  • Check release every 3 months = P7,778
  • Total of 20 payments for 5 years
  • Total Receivable amount for 5 years = P155,560

If the beneficiary of the plan is just about to enter college and the tuition is more or less P19,579.00, Option 1 is definitely the better choice. For the duration of the student’s college years, the tuition will be fully covered.

If, however, the tuition is way lower than P19,579.00 per semester, it might be better to take Option 2. Assuming that the tuition every sem (i.e., every 6 months) is P10,000.00, with Option 2, during the same 6-month period, you can get a total of P15,556.00 (P7,778 * 2). Use P10,000 to pay the tuition then the remaining P5,556 can be used for other expenses.

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In Option 2, since it offers only tuition reimbursement, any extra fund beyond the reimbursed tuition cannot be encashed. That means, if tuition per sem is P10,000, you won’t be able to receive the extra P9,759.

If CAP requires that Option 1 can only be taken if the beneficiary will enter college and that this plan cannot be assigned to another person, then there is no other choice but to take Option 2.

In Option 2, although the total amount to be received after 5 years (P155,560) is similar to the total gross price of the plan (P155,560), the planholder still lost because of the time value of money. With rising inflation, the P155,560 total amount to be received is, in real terms, way lower than this amount. What this means is that it would be better to get all that money right now than later.

In any case, this is still good news for planholders who thought there is no more hope for them with regard to their CAP educational plans. Getting something is, of course, better than getting nothing.

Got some more CAP updates? Have a CAP story to share? Post them here or join the discussion in the CAP Insurance, any experience? forum thread.

Topic Summary Keywords:

cap educational plan, cap educational plan refund list, college assurance plan 2012, college assurance plan unclaimed checks 2012, cap educational plan 2012, college assurance plan reimbursement, college assurance plan philippines inc, cap education plan, cap pension unclaimed checks, cap educational plan refund 2011 makati



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  • http://facebook.com charie mae bolilan

    PARA POH SA LAHAT NG NGTATANONG..
    Eto poh yung LINK ng LIST NG CAP OF UNCLAIMED CHECKS ! =)

    http://www.cap.com.ph/education/Approved%20RRP%20-%20Inq%20News_files/Approved%20RRP%20-%20Schedule%20-%20HO.htm

    if ever na wla pa dw poh kayo sa list na yan, it means dpat mgfiled dw po muna tayo ng CLAIMED sa office nila.. ETO POH UNG REQUIREMENTS FOR FILLING CHECK,

    REQUIREMENTS:
    -ORIGINAL CAP Certificate of Full Payment
    -ORIGINAL Assessment Form with Breakdown of misc. and other fees / Registration Form with no. of units enrolled (From scholar’s current college/university.)
    -ORIGINAL Receipts for Reimbursement (From scholar’s current college/university)
    -Course Curriculum

    MAIN OFFICE ADDRESS
    CAP I Building
    126 Amorsolo cor. Herrera Streets
    Legazpi Vill., Makati City

    Rufino St. corner Amorsolo St.
    (across Mile Long), Legaspi Village, Makati City.

    According sa pagreresearch ko sa CAP kc gragraduate na lamang ako.. di pa rin nmen nkukuha ung CAP n yan! ayan poh ung DALAWANG ADDRESS na nkita ko.. kc yung isa dw jan ayy according sa mga pumunta na sa office nila.. ay wla prng sarado na ata yung isa jan.. kaya kunin nyo poh yung dalwang address na yan!

    And 55% to 60% nlng dw poh ang maibabalik nila ! kainis diba ? pahirapan pa.. eh pera nman tlaga nten yun! PERO ATLEAST MAY MAIBALIK KAHIT PAPANO KESA NMN sa wla diba ? AND MATAGAL PA IPAPROCESS NILA YUN! it takes 3-4months dw ?

    tsaka lahat dw poh ng mga tumatawag sa hotline nila ay hinahang lng nila ! MGA BULOK SISTEMA NLA!.. kya ms maganda na pumunta nlng kau sa address na yan.. TNX POH

  • http://facebook.com charie mae bolilan

    THIS IS THE LINK.. just click lng poh. then lalabas na yung mga names jan! tnx =)

    http://www.cap.com.ph/education/Approved%20RRP%20-%20Inq%20News_files/Approved%20RRP%20-%20Schedule%20-%20HO.htm

  • http://facebook.com charie mae bolilan

    THIS IS THE LINK.. just click lng poh. then lalabas na yung mga names jan! tnx =)
    http://www.cap.com.ph/education/Approved%20RRP%20-%20Inq%20News_files/Approved%20RRP%20-%20Schedule%20-%20HO.htm

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