Premium Essay

College Assurance Plan

In:

Submitted By iceprincess11
Words 988
Pages 4
Overview
The infamous issue about the collapse of the pre-need industry sent the dreams of hundreds of thousands of people trying to graduate college crashing down. Several years ago, and seemingly out of nowhere, accusations came flying from all directions about pre-need companies. According to the accusations, they were either bankrupt or nothing but a scam, depending on which company you are looking at. And since a large portion of Filipino families relied on these pre-need companies in order to send their children to college, widespread panic ensued the moment these accusations hit the press.
The biggest company to suffer was the pioneer in the industry, a company called College Assurance Plan or CAP. The CAP Family of Companies began in 1980 with the birth of its mother company - College Assurance Plan. CAP has since expanded its business to the areas of Pre-need Pension, Distance Learning, Health Maintenance, Life Insurance, Information Technology, Financing, Communications and General Insurance. It is a group of companies that the Filipino family can trust for an assured and better future – to hold on to as a true and reliable partner through the next millennium. It is also a growing and dynamic corporate family capable of serving each and every Filipino family's pre-need and insurance requirements.
They had the largest number of plan holders subscribed to their pre-need education plan compared to any other pre-need company. This company was brought to its knees when certain government officials of the Philippines, came out of nowhere and publicly declared that CAP was bankrupt. They questioned the company's use of their trust funds and had the Securities and Exchange Commission or SEC freeze their accounts.
Naturally, the families that had subscribed to CAP at the time were infuriated and began demanding their money back, canceling their subscriptions.

Similar Documents

Free Essay

Cap Bankruptcy

...College Assurance Plan College Assurance Plan Overview The infamous issue about the collapse of the pre-need industry sent the dreams of hundreds of thousands of people trying to graduate college crashing down. Several years ago, and seemingly out of nowhere, accusations came flying from all directions about pre-need companies. According to the accusations, they were either bankrupt or nothing but a scam, depending on which company you are looking at. And since a large portion of Filipino families relied on these pre-need companies in order to send their children to college, widespread panic ensued the moment these accusations hit the press. The biggest company to suffer was the pioneer in the industry, a company called College Assurance Plan or CAP. The CAP Family of Companies began in 1980 with the birth of its mother company - College Assurance Plan. CAP has since expanded its business to the areas of Pre-need Pension, Distance Learning, Health Maintenance, Life Insurance, Information Technology, Financing, Communications and General Insurance. It is a group of companies that the Filipino family can trust for an assured and better future – to hold on to as a true and reliable partner through the next millennium. It is also a growing and dynamic corporate family capable of serving each and every Filipino family's pre-need and insurance requirements. They had the largest number of plan holders subscribed to their pre-need education plan compared to any other pre-need company...

Words: 328 - Pages: 2

Free Essay

Your Mom

...Program Guidebook Master of Science, Information Security and Assurance The Master of Science in Information Security and Assurance is a competency-based degree program that encompasses the main security domains of knowledge developed following strict guidelines for information security and assurance education prescribed by the National Security Agency. Understanding the Competency-Based Approach Practically speaking, what does it mean when we say that WGU’s programs are competency-based? Unlike traditional universities, WGU does not award degrees based on credit hours or on a certain set of required courses. Instead, you will earn your degree by demonstrating your skills, knowledge, and understanding of important concepts through a series of carefully designed courses. Progress through your degree program is governed not by classes but by satisfactory completion of the required courses that demonstrate your mastery of the competencies. Of course, you will need to engage in learning experiences as you brush up on competencies or develop knowledge and skills in areas in which you may be weak. For this learning and development, WGU has a rich array of learning resources in which you may engage under the direction of your student mentor. You will work closely with your mentor to schedule your program for completing the courses. You will also work closely with additional faculty members as you proceed through courses of study that are designed to lead you through...

Words: 4226 - Pages: 17

Free Essay

College Assurane Plan

...Causes of Collapse  1. The Education Act of 1992 The Education Act of 1992 is often referred to as the main reason of the collapse of the pre-need industry. The Act deregulated the education industry and the 15% capped tuition fee increase was removed. As a result, educational institutions increased their tuition fees tremendously.  Ten years after the Education Act of 1992 was enacted, the cost of a four year educational plan increased by 1200 percent. The yield on investments by the pre-need companies cannot cope up with the tuition fee increases. Consequently, pre-need companies incurred deficiency in their trust fund. 5. Independent Trustee Some of the pre-need companies' trustee were affiliates. Pacific Plans' trustee is RCBC, both are under the Yuchengco Group of Companies. CAP's trustee is Bank of Commerce, both have Sobrepeña affiliation. Ayala Plans trustee is BPI, both under Ayala Corporation, Philam Plans trsustee is Philam Savings. Cocolife trustee is UCPB; and First Union's trustee is Union Bank. There is a possibility that a collusion between these two related companies may occur.  Excerpts from Congressional Planning and Budget Department House of Representatives: Collusion between pre-need companies and their affiliates could result in possible diversion of the trust fund into business ventures other than the intended investment specified by the SEC.  In 2005, Senator Serge Osmena, during committee hearings, mentioned about CAP and PPI impropriety in handling...

Words: 3495 - Pages: 14

Premium Essay

Resume

...Patrick Lacerra   89 St. John’s Avenue, Yonkers, N.Y. 10704-2912 914.964.6831 ( H ) 646.731.8174 ( C ) Email: PLacerra@gmail.com     Senior Quality Assurance professional expert in the design and delivery of cost-effective, high-performance technology in support of growth with budget responsibilities up to all phases of Quality Assurance, the project life cycle, from initial feasibility analysis and conceptual design through implementation and enhancement.  Effective at building culturally diverse, team-centered operating units, with excellent business process and strategy development skills.  Expert at planning, managing and executing all life cycle activities such as test strategy, defect tracking, testing estimation and test planning.  |   |   |   | SUMMARY OF QUALIFICATIONS   Knowledge & Expertise - 25 plus years of expertise in Software Testing/Quality Assurance Management, Risk Management, Data Warehousing, Defect Management and Resource Management. Process improvement and optimization focus - Improve software quality, meet customer expectations and reduce defects by supporting proven software quality practices as well as implementing practical and effective process improvement methods.   Flexible - Demonstrated ability to excel in process oriented organizations requiring strict adherence to regulations as well as those requiring out of box thinking for new and effective process implementation and adherence.   Self motivated fast learner - Constant...

Words: 1785 - Pages: 8

Premium Essay

Quality Assurance in Vocational Education

...QUALITY CONCEPT IN EDUCATION In recent years, the discussion and debate on the quality of higher education and the mechanism for quality assurance in higher education have growth intensely. With the upgraded formerly known as vocational school to vocational college, quality of the end product should not be compromised. Concern on quality did start from the 13th and 14th century where it more focused on the term of education, the delivery system and the intended audience at that time. The setting for education at that time was for select few or the elite classes as the early European universities were set up to the educated status of the nobility. The criteria for quality assurance at the time were limited to determining the expertise of the teacher and students performance through demonstration of mastery of knowledge. Nowadays the democratization of education has change the delivery of formal education. Highly educated society is seen as essential for growth and development of a country. The impact of new technology also has change the way population gain access to education. In 21st century, quality assurance process is a must especially in higher education institutions to ensure the quality and credibility of the student produced. Woodhouse (1992) defines Quality assurance as a program in an institution where, quality assurance involves attitudes, objects, actions, and procedures, which, through their existence and use, and together with the quality control activities...

Words: 3607 - Pages: 15

Premium Essay

Not Now

...the following two documents (both located on your student website): • Academic Policies University policies are subject to change. Be sure to read the policies at the beginning of each class. Policies may be slightly different depending on the modality in which you attend class. If you have recently changed modalities, read the policies governing your current class modality. Academic Resources • Course Software Instructions Click the link for additional course software requirements. Note: We do not recommend trial software versions because they expire. SupportingMaterial Course Software • College of IS&T Resources Instructions Click the link to review the College of IS&T Resources. SupportingMaterial College of IS&T Resources • College of IS&T Website Instructions Click the link to access the College of IS&T Website. SupportingMaterial College of IS&T Website Get Ready for Class • Familiarize yourself with the textbook used in this course. Instructions Stephens, R. (2015). Beginning software engineering. Indianapolis, IN: John Wiley & Sons, Inc. Course Materials All electronic materials are available on your student website....

Words: 2511 - Pages: 11

Premium Essay

Mis Job Posting

...Job title: Software quality assurance analyst Skills and knowledge requirements: • Education: Completion of high school, completion of college/CEGEP/vocational or technical training • Experience: 3 years to less than 5 years • Languages: Speak English, read English, write English • Specific skills: Confer with clients to identify and document requirements, conduct business and technical studies, design, develop and implement information systems business solutions, provide advice on information systems strategy, policy, management and service delivery, develop and implement policies and procedures throughout the software development life cycle, conduct reviews to assess quality assurance practices • Computer and technology knowledge: Windows, Intranet, Internet, Multimedia software, Word processing software, Spreadsheet software, Presentation software, Office suites, Electronic mailing software • Work conditions and physical capabilities: Fast-paced environment, work under pressure, tight deadlines, repetitive tasks, attention to detail, combination of sitting, standing, walking • Essential skills: Reading text, document use, numeracy, writing, oral communication, working with others, problem solving, decision making, critical thinking, job task planning and organizing, computer use, continuous learning • Job title: Business systems analyst Skills and knowledge requirements: • Education: Completion of high school, completion of college/CEGEP/vocational or technical...

Words: 1801 - Pages: 8

Premium Essay

Cover Letter

...COVER LETTER Street City, State Zip cell: 555-555-5555 Date Name Job Title Company Street City, State Zip Dear Ms. LastName, I am interested in applying for the scientific research summer internship position that was listed through the Name University Career Services Office. I have had a great deal of laboratory experience in chemistry, biology, and geology, both indoors and in the field. In the lab, I have performed chemical reactions and I am currently using microscopes to observe many specimens. In environmental field studies, I have conducted outdoor labs to assess water chemistry. Last summer, I worked as conservation assistant at Clumber National Park. I am seeking to complement this outdoor experience with a research internship in order to acquire the background necessary for a future career in scientific research. I believe that I would be an asset to your program. This internship would provide me with the ideal opportunity to assist at your organization and to expand my research skills. I will call next week to see if you agree that my qualifications seem to be a match for the position. If so, I hope to schedule an interview at a mutually convenient time. I look forward to speaking with you. Thank you for your consideration. Sincerely, Signature FirstName LastName [Date] Ms. Rhonda West Customer Service Manager Acme Inc. 123 Corporate Blvd. Sometown, CO 50802 Re: Customer Service Representative Opening (Ref. ID: CS300-Denver) Dear...

Words: 2153 - Pages: 9

Premium Essay

Risk Management Program

...Erika Nunez-Walker St. Petersburg College Risk Management Program for Nunez-Walker Hospital The reason for this risk management program up change is due to each department working independently to resolve its own issues. The lack of centralized reporting has led to duplicate efforts and unnecessary spending. Also relevant trends and patterns are overlooked because it never occurred to one department to share certain information with another. We would like the Board of Directors to centralize the risk management program under one division. By having a centralized risk management program it will improve communication and insight between departments. It will reduce, cut cost and improve process efficiency. It will also improve quality care, and patient safety. The risk management program will be able to achieve and maintain regulatory compliance under one division. The risk management program will play an important part in maintain compliance with State laws. They will be able to demonstrate through compliance with the with the Joint Commission standards, that the hospital is providing safe, and high quality care. Risk management and Quality Assurance will fall in the same level. One will not be higher than the other on the pyramid. According to Scollins (2008), “Quality assurance and risk management have common elements. They represent processes by which care and services are scrutinized, audited, and generate action plans intended to benefit patients.” By...

Words: 717 - Pages: 3

Premium Essay

Challenges Affecting Implementation of Vision 2030 Project

...childhood education into primary education ii) Reforming secondary school curricula iii) Modernizing teacher training iv) Strengthening partnerships with the private sector v) Developing key programmes for learners with special needs vi) Rejuvenating ongoing adult training programmes vii) Revising the curriculum for university and technical institutes to include more science and technology; and viii) In partnership with the private sector, the Government will also increase funding to enable all these institutions to support activities envisaged under the economic pillar 1.2 Medium Term Plans Vision 2030 is being implemented through Medium Term Plans which outlines short term goals and targets within a five year period. The first medium plan covered the years 2007 to 2012. The flagship projects for the first Medium Term Plan were to: 1. Build and fully equip 560 new secondary schools to accommodate the increasing number of students graduating from primary schools 2. Establish a teachers...

Words: 2369 - Pages: 10

Free Essay

Business

...CURRICULUM VITAE NAME: RICHARD G. WIAH, JR. CONTACT INFORMATION: Plan Liberia Sophie Road, Congo Town Monrovia, Liberia Cell no.: 0886-528-289 E-mail: richard.wiah@plan-international.org CAREER OBJECTIVE: To find a challenging position to meet my competencies, capabilities, education, skills and experience. PERSONAL INFORMATION: NATIONALITY: Liberian RESIDENT OF: Caldwell Road, Bushrod Island, Monrovia BIRTH DATE: May 4, 1980 GENDER: Male MARITAL STATUS: Single PROFESSIONAL EXPERIENCE: Feb. 2012 – Present QUALITY ASSURANCE OFFICER PLAN LIBERIA SOPHIE ROAD, CONGO TOWN ...

Words: 745 - Pages: 3

Premium Essay

Receiving A Scholarship: A Positive Impact On My Life

...Receiving this scholarship would have a positive impact on my education and my life. This scholarship would help me continue my journey in life and furthering my education. I need this scholarship because it will help me financially in every possible way. Having a college degree is extremely essential to me, and really helpful in the work field. I came to college to get a higher education and expand my thinking, skills, and environment. In today’s society having a college degree is almost a must. My future career plans include me becoming a screenwriter and movie director. I have worked very hard and smart my first two years of college, and I have learned a lot. For my remaining time in school I will work even harder and explore more things....

Words: 383 - Pages: 2

Premium Essay

Resume

...QUALIFICATIONS: - Talented and accomplished professional with background in manufacturing, production, quality assurance and operations. Applies principles of Lean manufacturing, 5S process, and value stream mapping: - Participated in Accelerated Improvement Workshop (AIW) for forward join upper and lower sills. Worked with tooling and engineering to develop several tools for defect free, safe and time saving drill and installation process. Improved process by saving 16+ hours, taking less than 50% of the time taken prior to AIW. Practicing LEAN and 5S process. - Developed plan for staging work areas for quick and time saving line moves; designated roles and responsibilities for factory employees. - Accelerated improvement workshop (AIW) for Fujitsu tablet placement in 40-26 and 40-24 building; assure all tablets are accessible and free/clear during line moves. - Worked with forward join team to perform tasks and duties to reach record move ready rate for the forward join on the 787 program with zero defects. - 787 Value stream mapping in Position 0/1 workshop. - Practice lean management methods such as being a good role model, use the Boeing values, and avoiding risks to improve manufacturing processes. Familiar with product development, production ramping, and Quality Management System: - Analyzed product quality, operations and processes and created plans to assure problem resolution and implemented corrective/preventative action. - Assist in the reviewing and...

Words: 929 - Pages: 4

Free Essay

Love Canal Essay

...Republic of the Philippines POLYTECHNIC UNIVERSITY OF THE PHILIPPINES COLLEGE OF ENGINEERING Department of Industrial Engineering Republic of the Philippines POLYTECHNIC UNIVERSITY OF THE PHILIPPINES COLLEGE OF ENGINEERING Department of Industrial Engineering ENGINEERING VALUES AND ETHICS CASE STUDY: Love Canal Prepared by: MARASIGAN EDZEL C. Submitted to: Dr. Jerilyn Landicho-Pilar SEPTEMBER 7, 2015 BSIE V-2 A. Y. 2015 - 2016 ENGINEERING VALUES AND ETHICS CASE STUDY: Love Canal Prepared by: MARASIGAN EDZEL C. Submitted to: Dr. Jerilyn Landicho-Pilar SEPTEMBER 7, 2015 BSIE V-2 A. Y. 2015 - 2016 CE VISION The College of Engineering envisions itself to be center of excellence in engineering education. CE MISSION The College of Engineering is committed to produce competitive engineers who will serve as catalyst for sustainable growth and development in national and international levels. CE GOALS 1. Provide Quality education through instruction, advance research and extension services: 2 Produce world-class professionals as potential industry leaders and job providers 3. Develop and improve facilities through the use of adapted technology and indigenous materials and: 4. Maintain, upgrade and improve facilities through the adaptation of engineering techniques. OBJECTIVES 1. Strengthen the BSIE program consistent with global trends;...

Words: 1829 - Pages: 8

Premium Essay

Wider Professional Practice

...professional PrqcticeTETA 1060 – Wider Professional Practice (WPP) Task 1 (a): With reference to wider reading, analyse and evaluate the concept of professionalism and core professional values in the lifelong learning sector. A ‘professional’ is defined by businessdictionary (2013) as: “Person formally certified by a professional body of belonging to a specific profession by virtue of having completed a required course of studies and/or practice. And whose competence can usually be measured against an established set of standards.” Using this definition do teachers in the lifelong learning sector qualify as professionals? Prior to 2007 teachers did not have a professional body. In 2007 the Institute for Learning (IfL) was established and this is now the independent professional body for everybody working in the sector of further education (FE) and skills, with membership then becoming a requirement. The IfL drew up a Code of Professional Practice in 2008, outlining the expected behaviour of members and qualifications which were approved by parliament (IfL 2013). In addition membership confirmed a commitment to continuous professional development (CPD), a commonly recognised element of professional status. In 2009 Qualified Teacher Learning and Skills (QTLS) status became a recognised professional status, followed by awards in 2012 and recognised members now being qualified to work in schools. Looking at the given definition of a ‘professional’, it can easily...

Words: 3021 - Pages: 13