Loyola

I usually don't write about useful information but I hope this would be somehow helpful.

My mother and I went to Loyola Plans Building in Makati yesterday to check on the status of her Educational Plan.

Loyola Building, 849 Arnaiz Ave., Makati, Metro Manila 

In her case, she was already receiving checks for 7 years. However, she was wondering why she didn't receive her last check due last year. They actually sent her a message saying her check was already available for deposit. She trusted that her money will be in her account before the end of the year. January 2016 came and still, there was nothing. She followed up on the matter and they said they had to replace her check for some reason. After waiting for several weeks, there were still no updates. No one answered even though she kept on calling them after that.

It was only until recently when the news came out that we finally understood why they always delayed the issuance of the check. That's why yesterday, we went there to find out what will happen to the remaining amount.

Sorry for the glare. It's quite hard to read but I think it says: Filing of (something)-Timeplan; Educational Plan; Cash Surrender; Unrendered; Buy back, Termlife: Proceed inside customer service. (Ask for guard on duty.)

You'll see a lot of people outside. If you ask them, they're not actually waiting in line. Most of them are there because they are confused with the instructions from the guard at the reception.

If you are to ask the guard on the procedure, he'll only actually say 2 things:

1. If you are claiming your check, go to the second floor (but they aren't releasing any).

2. Go to the office on the ground floor for filing cash surrender, buy back, etc.

He always said please wait outside as both the ground and second floor are full. However, we didn't see any lines or any other people giving instructions to customers. Therefore, we went to the second floor.

It was chaos on the second floor. Everyone was gathering around some of the company's employees and asking some questions. Then there was a small table where other employees were (around 3 of them) telling people to sign up on their paper to follow-up on their checks. I don't know what was happening there but I heard that plan holders will be able to get their checks after 6 months or so. In the case of my mother, she told one of the employees that the check was supposedly available. Then, we were told to find some person handling these matters in the office on the ground floor.

Now, on the ground floor, they weren't allowing people to go inside the office. The guard was saying that but no one was controlling the people so we went in. 

 

Everyone's busy so it's hard to know where to wait, where the line is, whom to talk to, etc. Eventually, a line of people waiting was formed for those people filing for cash surrender, unrendered, buy back, etc.

There were 3 employees on this desk here whom we could talk to about the details. They were really kind and tried to explain the process to each plan holder. I feel kind of sorry for them though. When the employees on the second floor cannot answer the customers questions, they tell them to inquire here. If the case is not really their concern, they tell people to go upstairs. Of course, people would get mad. If they had a procedure and were more organized in the first place, there wouldn't be any problems.

 

The sad thing is that there were no employees telling people what to do upon entering the office (except for one guy who was assisting those who were there for filing). Around lunchtime, some people became agitated because an employee suddenly prevented them from going inside. Some people were shouting and cursing which was already expected because they weren't giving them answers or even instructions on what to do.

Anyway, in the end, we weren't able to get anything. Even the check that was supposed to be deposited a long time ago was not there. The status was: for replacement. When? I don't know. They said not to worry about it because despite the delay, the company will continue to operate and issue the checks after selling its assets. I just hope it's true. 

Here are some things to prepare when going there to file a cash surrender, buy back, etc.
1. Original copy of your contract, certificate of full payment or whatever other important papers that are related to your plan. If it's not yours, meaning your name is not the one on the contract, you have to prepare an SPA (Special Power of Attorney). Prepare a photocopy of each. They have a copier there but you'd save time if you just bring yours.
2. A photocopy of 2 valid IDs. (Make it 2 copies just to be sure.)
3. Water and snacks. You'll probably wait for a long time.

You'll be filling out this form:
 

I don't know if they will change their procedure or system. I don't actually know anything specific about the plans and other details. Just go there and ask. Don't get confused by the line of people outside. Ask the person at the reception area as soon as you get there.

Good luck!