PET Plans lines up more products

Following the successful launch of its dollar-denominated pension plan, leading Filipino-owned pre-need firm PET Plans Inc. has lined up three new products aimed at further boosting its profitability and meeting the changing needs of its planholders.

PET Plans president Lorenzo Ocampo said the company will launch this year its PET Education Plan, PET Life Plan and PET Pension Plan packages.

Ocampo said the introduction of these new products is in line with the company’s bullish outlook on the pre-need industry.

He said this is the first time in four years that management is optimistic that sales would grow at much higher levels.

Ocampo said the company is targeting to double its gross sales to P2 billion this year through aggressive marketing strategy and product innovation.

Of the P2 billion projected gross sales, P200 million will come from new business while the rest from succeeding payment collections and sales of plans.

Due to the warm response of planholders to the PET Dollar Pension Plan, company officials expect this new product to account for 10 percent of the firm’s total sales this year.

PET Plans’ target market for its dollar pension plan includes overseas Filipino workers, Chinese businessmen, top executives and other high networth individuals.