Beware of Danvil Plans (Video on Probe)

This is a long due post of the vid but it doesn't hurt to remind you again. I'd like to clear up too that Danvil isn't a scam but their marketing strategy sucks, that's why most of the planholders go home restless feeling conned. That's how I felt when I fell for their dirty tactics. Good thing I got out of it. Whew.





If you're a Danvil planholder and you want to cancel your plan, you might want to check my post on how I did it last year with some more tips from others. Good luck!

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Update on my Danvil Cancellation

* 01/24/09 - Seems a lot of people are still cancelling their Danvil plans due to the traffic I get for that keyword. If you got here because of this post, I hope you get your money back. If you've already exceeded 24 hours since you got your plan, please check the bottom of this post for related links. Godspeed.

04/06/09 - Here are videos from the Probe's feature on Danvil. Thanks to Attila for sharing! :)*

Thank God, the cancellation process was successful and I got my refund! ^^

I regularly check my credit card transactions online and lo and behold, the refund was credited to my CC the following cut-off. I'm really grateful that I didn't encounter problems with this cancellation compared to others I've read online. The steps I took were:

1. I went back to the branch where I took the plan within 24 hours and surrendered my policy. I got the plan on October 11, a Saturday evening, and went back there on October 12, Sunday afternoon.

2. I gave a cancellation letter stating my purpose and reasons for cancellation. One has to be firm and decided so they won't keep on insisting you to keep the plan. Make sure that you make them sign your copy of the cancellation letter as proof that they received it.

3. I also invited some friends to accompany me even to the office in case they'll bully me. I read a planholder's experience being bullied when she was alone in pursuing her plan's cancellation.

4. I constantly followed up on them through phone afterwards. (I asked for their local number.) They employed some delaying tactics that a friend, whom I recently knew was previously employed to Berkley (former name of Danvil aside from Family Trust), affirmed this dirty strategy of the company. Be persistent.

5. Once I got my Danvil Plans Statement of Account (SOA) stating that my plan was cancelled upon inception, I regularly checked on my credit card account online. Having an online statement of your CC is very helpful in monitoring your refund.

I made them fax my SOA immediately when they received it from the main office last October 15. I followed up on them through phone again for my credit memo but they said that it was already a bank-to-bank procedure and I have to wait for 30-45 days for the chargeback. Thinking this over, I stopped calling them because I think they really won't know the exact date I will be refunded. The refund was posted on my CC last October 30, exactly 15 days (2 weeks) after my plan was cancelled in the main office.

As I've said, I'm really thankful that the process wasn't very difficult for me though I was really worried and anticipated the worst based on what I've read of other's experiences online. Next time I'll follow my instincts or to make it simpler, I just won't trust anybody who'll pressure me to make a decision, especially a financial one, on the spot.

Good luck to those who are in the process of cancelling their Danvil Plans. Actually, Danvil is a legitimate company, it's really not a scam. However, as many say, their sales strategy needs a lot of refining. I have a lot to say regarding loopholes but I'm just happy that I got my refund so that's that for now. ;)

For those who haven’t been able to cancel the policy within 24 hours, you need to file a letter of complaint to the SEC, making sure that you indicate in your letter how Family First/Philippine Prudential Life’s marketing tactics have violated the Consumer Act of the Philippines. You can also read through the comments on Bob’s blog entry or Noemi’s blog entry about the same topic for more information.

Source: Danvil/Philippine Prudential Life Updates and Helpful Tips

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To those who have successfully cancelled their Danvil plans, it would be greatly appreciated if you share your stories to help others in the process. :)

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My Patience is Running Out

*** Update: I received my refund! Yay! ***

I'm a patient person, really. I truly am. But, Danvil, you're getting on my nerves. Here's some virtual smoke.

(Note to kids: I've never tried smoking in my whole life.)

Easy Come
Thanks to Recipe Hotline for sharing this good info on processing of insurance policies, as commented in my previous post:

Well as far as I know since you signed up saturday evening your application would be process monday which is the regular business day. I just don't know if they process application on a sunday. Granting they process applications for new policy holders even on sundays, your application would be underwritten by the company's underwriter. It would go for an evaluation before they could give you a policy number. This is how I know because I've been working in an insurance company for 7 years. So, if you went there sunday afternoon, they should have canceled it per your request because your application is still on process that is why there's no amount yet being debited on your CC because they're not yet done with the underwriting.

By the way, Danvil Plans, Inc is formerly Berkley International Plans.

So given that knowledge and going back to when I got my policy that Saturday night, how come they were able to finish off the policy and give me my contract number in just a few minutes? (The presentation itself took more or less an hour but the approval of papers were in a jiffy.)

But Not Easy Go
Okay, so given that I have to wait for 30-45 days for the chargeback of that transaction, Danvil should still polish its system. I called yesterday to follow up on this and they told me that the courier sent my cancellation papers to the head office. I asked them if they could fax my Statement of Account in the office so I won't go through the hassle of going there. (SM Pampanga and Clark are not neighbors, I tell you.) They said they'll try and I gave the fax number.

Come this lunchtime and I followed up on them again. (That's how much I don't trust their word.) Choco (this time I got the name alright) told me that I'd get the credit memo after 2 weeks. And the Statement of Account was different from the credit memo. Fine, they also have problems with explanations. They told me on Sunday that I'd get the credit memo today and now they tell me that it's only a Statement of Account. Before you speak, you should know what you're talking about. I've actually talked to 4 people on the phone on different occasions besides the three people I talked to personally last Sunday and their explanations don't match.

I'm Still Waiting
Okay (again), so given that I'd only get a Statement of Account which states that my policy has been cancelled since inception, where do you write your notes there? My SOA hasn't been faxed yet as of this writing because "their fax machine is currently being repaired." Jeff, the last Danvil employee I talked to on the phone as of late, told me that they might be able to fax it by 5pm. Is that an excuse for delay? I hope not.

***Update: I got my SOA as of 4:30pm today. Whew!***

Customer Service Should be a Priority
Yesterday, I also emailed gstamaria@danvil.ph, mypolicy@danvil.com.ph, and mypolicy@familyfirst.com to follow up on my cancelled policy. A minute ago, I've also inquired in Prudential Life if the policy was really theirs. Let's see if Prudential Life's customer service will beat Danvil's "speed."

Tech Tags: SM Pampanga, Family First, Danvil, Prudential Life, insurance, schemes, trust fund

I Hate Inefficiency

I hate people who don't do their jobs correctly when they're supposed to.

Duped and Stupid
I got a policy in "Prudential Life Plans Insurance" last Saturday night (Oct 11) at SM Pampanga under Danvil Plans, Inc., whose agent told me they're the marketing arm of Prudential Life. After mulling over the on-the-spot decision I made, I came back to my house anxious and wanted to bring back time. I felt duped and stupid.

No Such Thing as Non-Refund
So I came back to Danvil's office on Sunday afternoon (Oct 12). (I didn't notice the first time I went there that Family First was the signage on top of the office. Damn.) I gave my cancellation letter and policy so they can process my cancellation and refund ASAP. Refund here means cancellation of the amount charged in my credit card (CC). As of that day, the amount I paid them was still "floating" in my account, meaning it still wasn't posted by their company and was under the settlement period between them and the CC company. After sometime of explanations and persuasions, I firmly told them that I am decided to cancel my policy. They said I have to get back on Wednesday (Oct 15) to get the cancellation slip for my CC once my policy was approved for cancellation.

Just Asking for Professionalism
Despite them saying that their day-off was yesterday (Monday, Oct 14), I called them at their office to follow up on my cancellation. As expected, I was told that the people I talked to were not around and will only be back by today. I asked if my policy's cancellation was already on-going and she (the one who answered the phone, I forgot her name) didn't know the status or where my policy is. She told me that the only report logged in their system is that I went there for inquiry on cancellation. What inquiry?!, I said to myself. I cleared it up with her that I was there to totally cancel my policy and I even left my papers already. I even have a copy of my cancellation signed as received by the sales manager I talked to. She just assured me that she'll remind them when she reports to office the next day.

Delaying Tactics?
It became my habit to check my CC account online regularly. Because I know that the amount won't be charged in my CC once they cancel the transaction and it's still floating. However when I checked my account this morning, the amount was already posted! I'm really infuriated with their service. If only they acted upon it ASAP then it won't happen to this. I'm even thinking they intended this to happen so I would have to wait for 30-45 days for the chargeback since the amount was already posted. Given that they know that their day-off was yesterday, they should have forwarded my cancellation to someone else so it will be processed immediately. Especially if they know that my transaction will be posted by yesterday.

Or Just Plain Dirty?
What I'm hoping now is that I'll really get my CC cancellation slip tomorrow as promised. Danvil should listen to complaints of all people, policy holders or not, and check on their service. And if what the "consultant" told me that my plan was really under Prudential Plans, why is it that the merchant registered on my CC is Danvil Plans, Inc. and not Prudential Plans? And also, if you're giving out contact details, don't use a photocopy of a site's printout. Please.

*** Update: The cancellation was successful and I received my refund! Yay! ***

Tech Tags: SM Pampanga, Family First, Danvil, Prudential Life, insurance, schemes, trust fund