STI Holdings unit PhilPlans to expand operations this year

Pre-need company PhilPlans is expanding its sales force by 50 percent this year to widen its client base and sell new products, reflecting its bullish outlook on business.

 

The company will open new outlets in Davao del Sur, Nueva Vizcaya, Bulacan, Surigao del Norte, and Bataan, PhilPlans parent STI Education Systems Holdings Inc. of businessman Eusebio Tanco noted in a disclosure to the Philippine Stock Exchange on Wednesday.

 

The five new outlets are in addition the company's more than 50 branch locations nationwide.

 

Among the products to be launched this year is Sure Health Plan, a medical savings scheme that provides planholders with hospitalization benefits and long-term care as well as life and accident protection. 

 

Other benefits of Sure Health are hospital daily income, guaranteed medical fund, family cash assistance, memorial cash assistance, and comprehensive insurance protection.

 

PhilPlans reported a net income of P1.6 billion last year. 

 

Its has a paid up capital of P700 million and P41 billion in its trust fund. — VS, GMA News