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By Likha C. Cuevas-Miel, Reporter
PRENEED sales again contracted in November, with
educational plans suffering from the biggest fall, according to the
Securities and Exchange Commission (SEC).
SEC data showed that preneed plans sold during
the month decreased by 9.64 percent to18,469 units compared with a
year ago. The figures however were 10.1 percent better than October
sales. Among the three products, education plans registered the
biggest year on year contraction at 29.7 percent to 2,095, followed
by pension plans at 8.82 percent to 7,817, and life products with a
decrease of 3.7 percent to 8,557.
Sales however improved from October levels
except for life plans which declined by 6.72 percent. Education and
pension plans sales grew by 17.56 and 34.31 percent month on month.
In peso terms, November sales went down with
pension plans leading at 19.74 percent to P794 million year on year,
followed by education plans which declined by 6.56 percent to P347
million. Life plans was almost flat at 0.64 percent to P320 million.
Month on month, sales of education and pension grew by 10.58 percent
and 32.19 percent, respectively, while life plans contracted by
21.16 percent.
During the same month last year, life plans’
initial collections improved by 9.81 percent to P25.2 million while
education plans decreased by 33 percent to P26.44 million and
pension plans by 18.11 percent to 98.4 million from 2006 levels.
In the first 11 months last year, life and
pension plans had almost the same contribution at 45.18 percent and
43.68 percent to total sales at 209,132, whereas in 2006 life plans
cornered more than half of the total contributions. Education
plans’ contribution to the total dwindled from 24.75 percent in
the first 11 months of 2006 to 11.14 percent last year.
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