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.
Any update on College Assurance Plan (CAP)?
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).