First and foremost, I think
Philippine Prudential Life Insurance Co., Inc. (PPLIC) is not a scam, but a company who tricks people to get their service. They are near the word scam because of the tactics to get people agree to get their policy.
Here's how it goes:
1. They are in the malls, everywhere! They would ask walking shoppers if they have a credit card. If you say yes, then you are a lucky passerby who have a chance to win a car or on the raffle draw.
~~ If someone ask you if you have a credit card, debit or ATM card, or checkbook account, just say that you don't have one. They would leave you alone. And you would only be able to play the game after you go through all the process from their office.
~~
They would say that they won't sell you anything or make you sign-up.
2. They would say that this is quick and that you would get freebies. They would say that you would just need to fill-up a mini form.
~~ You would be able to get the freebie only after going through all the process from their office. Note that the mini form is not the raffle draw they are talking about. It's for the sheet they would print out for later use.
3. After filling-up the form, they would say that in exchange of the freebie you would receive, they are just asking for a little of your time. They would just like to introduce their product. It would be for 45 minutes, but they would say that if you don't ask questions, everything would be done after 30 minutes.
~~ This is the start of everything.
4. If you say yes, they would bring you to their office which is inside the mall. They would make you wait until the assigned person that would present their product to you be available. For the meantime, you would be called by the receptionist and ask how many credit cards, debit cards, checking account you have on-hand. The number of credit cards, debit cards and checking account would have an equivalent number of raffle tickets you would fill-up.
~~ On-hand meaning the credit card or debit card you have should be with you on that very moment. I'm not sure about the checking account. The assigned person to present their product to you would be whoever gets vacant and be available to "trick" you.
5. They would call you and go inside a room fill will tables with two chairs. It's a one on one discussion. The presenter would ask some personal information questions until they would ask you to fill-up your dreams for yourself, your family, and your children. Then they would go and get some drinks for you.
~~ The drinks are iced tea usually. On the branch I was tricked in to, they serve iced tea. The another glass is iced water but I'm not sure if it's for me or for the presenter.
6. The discussion would start. As a summary, you would need to pay them
6,650 Pesos which would be automatically deducted from your credit card or debit card. There would be a
monthly fee of whatever amount you can pay. That there would be
no decrease of balance for not being able to pay monthly. That this is a
government bond made available in small amounts to lucky individuals selected. You would pay for a few years then be able to withdraw everything after a few years.
The number of years are stunning as other insurance company would make you wait forever before getting the benefits.
~~ It's going to be a one day slot, meaning if you say no, then they would say that they can't do anything about it, and that you have more priorities than securing your family. They would make you feel bad about it. And if ever that you came back to their office, you won't get a slot anymore, and the agent can't help you about it. And of course, that's a big lie!!!
~~ They would say that it would depend on the VISA or MASTERCARD international company if the transfer of funds would be approved. They would try to psyche you that they are not after for your money, for the points, but to help you, that they can't do anything if the card companies didn't approve the transfer of funds.
~~ Most women can't get out from their office even after the allotted 45 minutes. They say that women are most tricked to sign up because the agents try to hold women more in their office. The agents and the manager won't make you go without you signing up.
~~ They would say that there's no obligation to get their service to enter their promo. But they would do anything to make you sign up. They would corner you.
~~ You can get stuck on their office from 1 to 4 hours!!! I'm not sure if there's someone who got stuck for more than 4 hours.
~~ The agents can blend on with your situation. They have studied computer science like you do. They knew many people who work in SM like you do.
The company might have a good policy plan. The problem is on how they try to get potential insurance holders. The agents trick people and won't say the in and out of the plan. They won't say that you have to pay for a fix amount every month until the conversation goes so long and they give little by little critical information that a person should know. But there are far more information that they won't reveal until you sign the policy.
