Help: CAP Educational Plan

**1D4LV** · January 31st, 2008 12:46 PM

Originally Posted by XTO

I’m also a non-believer of those educational plans/pre-need. Many of my relative- way older than me experienced that and I learned from that – kawawa sila, para silang nagtapon ng pera, nagkasakit, tumanda sa problema which they think in those days as a complete peace of mind for their kids.

Back to the topic: for my kid’s future, we never consider educ. plans kasi still andun yung worries na baka ma-leche… bakit? even bangko bumibigay eh yan pa. (at least there’s PDIC) ang mahirap kasi dyan yung paiikutin ka na during times of trouble, syempre karamihan magwa-walang kibo na lamang so tagumpay “sila”

ganun din naman eh kung talagang gusto mong pag aralin ang anak mo eh natural lang na paghahandaan mo at ipa-prioritized mo ang savings para sa kanila.

same here. my parents enabled sending us to college without such pre-need educational plans so i will also do that to my kid.

**uls** · January 31st, 2008 04:42 PM

OT

Oh, here's an easier and more lucrative way to make a lot of money "legally" than collecting premiums from thousands and thousands of people...

Buy up loans from risky mortgage lenders, package the loans to make them look like fancy securities complete with AAA rating, and sell them to investors around the world.

Then after selling those securities, u take short positions on those securities in the derivatives market.

U make money selling them, and u also make money betting that those securities will go bad.

**Galactus** · January 31st, 2008 05:03 PM

^^^ I don't think that's feasible in the local setting.

Derivatives and fancy packaging of loans as asset-backed securities approach the complexity of mathematical equations, and are not as easily understood as other securities. No offense meant to local bankers and financial experts here, but even Western financial analysts themselves cannot fully comprehend the underlying principles, and their financial markets are much more advanced than ours.

And besides, there is no trading floor for derivatives locally, right? Only for stocks, warrants and options.

**uls** · January 31st, 2008 05:37 PM

Originally Posted by Galactus

^^^ I don't think that's feasible in the local setting.

Derivatives and fancy packaging of loans as asset-backed securities approach the complexity of mathematical equations, and are not as easily understood as other securities. No offense meant to local bankers and financial experts here, but even Western financial analysts themselves cannot fully comprehend the underlying principles, and their financial markets are much more advanced than ours.

And besides, there is no trading floor for derivatives locally, right? Only for stocks, warrants and options.

Ya i know...

All im saying is... or my point is... when coming up with ideas to make money, there is a fine line between scamming people outright (like Ponzi schemes) and scamming people "legally".

Those Wall Street geniuses who invented bad paper and sold them to investors wont even get a slap on the wrist. Pero kulong ang mga Ponzi scammers.

Pareho lang naman sila nang-biktima diba? Baket hindi ma-punish ung mga "legal"?

Those who bought bad paper see their money vaporize into thin air.

I have no sympathy for the banks who got stuck with bad paper. Buti nga sa kanila.

Naawa ako sa mga inosente.

Tulad ng mga pension funds na binentahan ng basura. Retirement money ng mga tao yan e.

Buti nalang hindi nabentahan ang GSIS and SSS natin.

well, sana hinde.

----

Just coz a company has an SEC registration, a fancy name and a fancy office with well dressed, well groomed, articulate staff, that doesnt mean meron sila malasakit sa pera mo.

kahit naniniwala tayo na nanjan ang gobyerno para protektahan tayo kung sakali tayo maging biktima, pag malaking pera na ang pinag uusapan, ang po-protektahan ng gobyerno ay ung nang-biktima.

Ano nga pala nangyari sa Orient Bank nila Gotesco?

The owners ran away with the money of depositors...

were they punished?

nah

**_Qwerty_** · January 31st, 2008 06:03 PM

mas maganda pa mag invest na lang sa government bonds.. medyo hindi ganon kalaki risk.. tax free pa.. i think pag-ibig sells housing bonds at 8% p.a.

**shadow** · January 31st, 2008 07:50 PM

woooohhh!!!! :popcorn:

**mark_t** · February 28th, 2008 01:33 AM

The only thing good about government is they never go bankrupt.

For someone to think that government bonds are a good investment must
have never invested substantially in one. Let us wait for somebody to invest his life savings
in bonds for say 20 years and let us read about his views.
Maganda concept ng preneed and sales are all time high nowadays. Problema lang talaga yon
culture ng owners ng CAP. They are the ones who decided not to pay whoever they are.
I have very limited exposure in these forms of savings but i bought them all, life insurance, preneed and mutual funds. Now, I have become a Life and Nonlife agent, this is what i do.

All I can say is mali talaga ginawa ng CAP na hindi nila ituloy ang contract nila with their
open ended policy.

Ngayon tahimik sila kasi nag mature na ang MRT bonds nila sa balita ko. Me pera na uli sila.

Wais talaga!

**mark_t** · February 29th, 2008 02:57 AM

And because CAP got away with it. GSIS FOLLOWED SUIT. Unknown to many
GSIS has stopped paying pension to their old policy holders. Tinamaan nito Nanay ko.

Uls actually has point, If you read your life insurance policy, you will not read anywhere that your claims will be guaranteed to be paid when due proof of the LIFE INSURED died while the policy is in full force and effect. Or to the Owner upon the survival of the Life Insured at Maturity.

What is GUARANTEED IS THE NON FORFEITURE VALUES in the Policy Schedule.

Under "The Contract" you will read:

Only the Chairman of the Board of Directors, the President, or officers
duly authorised in writing by the Board of Directors have the authority
to modify this contract. Any such modification must be in writing and duly signed by the authorised officer.

Its not rocket science, its not who has credibility or experience. its not all
the write ups.

My point is read your contract.

When I finally read my contract I realized that I was not as protected as the the insurance co. But my life insurance policy remains in force. I even
became an agent after my third policy. (Stupid Ba?)

Do I NEED IT? NO, BUT MY WIFE MAY MIGHT FIND SOME USE OF IT.

Will the CAP POLICY HOLDERS GET PAID? Yes, nobody knows when.

Will I buy another policy? Yes sana mga dalawa pa.

Matakaw pa rin ba ako sa Lechon? Syiempre, lalo na pag d ko kasama asawa ko.

Mababayaran kaya mga policy ko? Sana

**1D4LV** · February 29th, 2008 10:07 AM

Originally Posted by mark_t

And because CAP got away with it. GSIS FOLLOWED SUIT. Unknown to many
GSIS has stopped paying pension to their old policy holders. Tinamaan nito Nanay ko.

Uls actually has point, If you read your life insurance policy, you will not read anywhere that your claims will be guaranteed to be paid when due proof of the LIFE INSURED died while the policy is in full force and effect. Or to the Owner upon the survival of the Life Insured at Maturity.

What is GUARANTEED IS THE NON FORFEITURE VALUES in the Policy Schedule.

Under "The Contract" you will read:

Only the Chairman of the Board of Directors, the President, or officers
duly authorised in writing by the Board of Directors have the authority
to modify this contract. Any such modification must be in writing and duly signed by the authorised officer.

Its not rocket science, its not who has credibility or experience. its not all
the write ups.

My point is read your contract.

When I finally read my contract I realized that I was not as protected as the the insurance co. But my life insurance policy remains in force. I even
became an agent after my third policy. (Stupid Ba?)

Do I NEED IT? NO, BUT MY WIFE MAY MIGHT FIND SOME USE OF IT.

Will the CAP POLICY HOLDERS GET PAID? Yes, nobody knows when.

Will I buy another policy? Yes sana mga dalawa pa.

Matakaw pa rin ba ako sa Lechon? Syiempre, lalo na pag d ko kasama asawa ko.

Mababayaran kaya mga policy ko? Sana

huh? anong klaseng policy yang non-guaranteed ang claims?
afaik, ang non-guaranteed is yung non-forfeiture values and yung dividends. pero yung base coverage amount is guaranteed.

**niky** · February 29th, 2008 04:19 PM

Originally Posted by mark_t

And because CAP got away with it. GSIS FOLLOWED SUIT. Unknown to many
GSIS has stopped paying pension to their old policy holders. Tinamaan nito Nanay ko.

Sssst... somebody raided the coffers to fund millions in "social programs" (i.e.: straight cash dole-outs for scholarships, financial assistance, etcetera) after the stink regarding "Hey Garci". Rumor is... the GSIS is bankrupt.