Prudentialife offers comprehensive products

Ensuring the Filipino’s quality of life, as well as security in death is the mission that has guided Prudentialife through the ups and downs that beset the industry. It is no longer inappropriate, thanks to the public’s newfound sense of practicality, to prepare for death. And as society’s maturity grows along with the expenses accorded with living, planning for it is becoming the acknowledged responsible thing to do.

Prudentialife has exercised its influence as a leader in the pre-need and financial services industry by educating the public on the necessity of investing in a holistic life plan covering memorial service, financial products and quality health care, through breakthrough products and services that are as relevant as they are affordable. Today however, it realigns its efforts to cater to the increasing demand in memorial products — its primary area of expertise.

A complete conglomerate

Prudentialife capitalizes on its edge in memorial services by creating products that are tailored to suit different needs. The Prudentialife Integra TFM is an example of an innovation that puts the leader right at the forefront of the industry’s growth.

Prudentialife president Jose Alberto Alba said "to be more responsive to the changing times, Prudentialife has made it a business direction to pursue an integrated plan of life by focusing on what it does best by launching Integra TFM and expanding to new products that ensure the financial and physical well-being of the Filipino family."

The Integra TFM is an amalgamation of Prudentianlife’s expertise and strengths, to better cater to the demands of the market. An organized linkage of its three businesses — the life plan, mortuaries and memorial parks, it is the only life plan in the industry that provides integrated memorial services with comprehensive benefits, hence the brand Integra. The initials TFM stand for Traditional Plans, Flexi Plans, and Memorial-related products, representing the diversity in Prudentialife’s product offerings in terms of type, mix, and affordability.

"Prudentialife is able to provide the public with products that are this comprehensive because we have expertise over these three key aspects. While others capitalize on service components, we have the resources to match quality services with unique benefits," Alba said.

Integra TFM is backed by the entire Prudentialife Memorial Services Group, composed of Prudentialife Plans, Inc., La Funeraria Paz, Inc., La Funeraria Paz-Sucat, Inc., La Funeraria Paz-Baguio, St. Therese Chapel-Iloilo, Tarlac Memorial Park, Inc., and Iloilo Memorial Park, Inc. It is likewise supported by the finest mortuaries, with a nationwide network of over 250 branch/area offices with Certified Servicing Mortuaries (CSM). All these support Integra TFM’s offering of Life Plans — the Traditional Life Plan, Flexi Plans and Cremation Plans.

The Traditional Plan guarantees the planholder of dignified memorial services when the need arises, regardless of future cost. Flexi Plans are fixed value plans that guarantee the availability of funds for the administration of professional memorial services at the time of need, allowing the planholder freedom to design a memorial service that he or she sees fit. The Cremation Plan is in keeping with the increasing acceptance and demand for cremation services.

"As a company, Prudentialife is a marketing organization distributing our own, as well as third party products. But we have the expertise for life plans, and this is why we are offering a unique brand like Integra TFM, to provide the public with win-win options that cover a wide range of needs," Alba said.

Ensuring good quality of life

Prudentialife, according to Alba, chose to focus on memorial products such as the Integra TFM because it is the acknowledged leader in the memorial industry. Its trust fund has recently reached the P15 billion mark, roughly a P1.5 billion increase from last year. Over the past 10 years, it has already disbursed P7 billion in plan benefits and was declared number one in terms of market share in the memorial industry by the Securities and Exchange Commission as of May 2006.

However, because it prides itself in continuously aiming to provide holistic solutions towards improving the Filipino’s quality of life, Prudentialife has expanded its pre-need portfolio since it was established in 1978. Today, it offers financial services and healthcare services as well. It has recently launched two new products that can help Filipinos enjoy a better quality of life and a secure future — Prudentialife Optima Funds and Prudentialife Healthcare, complementing Prudentialife’s offering for an integrated plan of life.