IC Circular Letter No. 2015-41

: The circular directs all pre-need companies to include the word "Plan" or "Plans" in their corporate names to properly identify them as Pre-Need Companies.
: All pre-need companies authorized to transact business and those intending to engage in pre-need business in the country must comply.
: Prospective pre-need companies must include the word "Plan" or "Plans" in their corporate name upon registration with the Securities and Exchange Commission (SEC) as a requirement for issuance of a Certificate of Authority.
: Existing pre-need companies must amend their corporate names and comply with this circular within six (6) months from the date the circular was issued.
: Non-compliance shall subject the violator to a fine of Ten Thousand Pesos (₱10,000.00).
: Yes, compliance with this circular is one of the criteria for renewal of the Certificate of Authority.
: The circular took effect immediately upon issuance on August 3, 2015.
: The purpose is to avoid public confusion and promote the interest of the Pre-Need industry by clearly identifying these entities as pre-need companies.
: The Insurance Commission is responsible for enforcing the provisions of this circular.