This educator entrepreneur ramped up, levelled up into new business of memorialization, ie memorial plan. They are into a deal with a life plan company and there is a one year transition period to transfer the assets.
The memorial plan company consolidates the very fragmented but very big memorial business: about P25 billion. The memorial park occupies but mere 20% of the total market. In 2014, the memorial park only sold P500 million worth o plots
Yesterday, we and the chairman of the seller receive the certificate to operate from OIC:
Life is a DESTINY, PLAN
Rizal Philippines
September 27, 2016
Today the Office of Insurance Commission under Commissioner Emmanuel Dooc issued the License to Operate to Destiny Financial Plans and handed the same to Chairman Arsenio Bartolome III. It took two years for Mr. Bartolome and Mr. Saguinsin to have the license to operate renewed once more.
Destiny Financial Plan Inc. is one of the 14 remaining pre need companies in the country today (down from 22). There will be only two competitors in the field: only Destiny Financial Plan and SPLP. The latter dominates the market.
