are preneed plans still safe?

I have a preneed plan that I finished paying a year ago. I will have to wait for the next four years to be able to enjoy the benefits from the said plan. I am planning to acquire another preneed plan but I am now hesistant due to the latest SEC circular allowing preneed companies to defer payment of planholders benefits. Here's a portion of that news from Business Mirror (Online Space).

"The Securities and Exchange Commission (SEC) released a circular last December allowing preneed companies to defer the payment of plan-holder benefits for as long as three years, after the industry was sent reeling by the global financial crisis.

In August of 2008, the Philippine Federation of Preneed Plan Companies Inc. (PFPPCI) sent a position paper to the SEC regarding the effects of the credit crunch on their investments. They admitted their member-companies were having a harder time meeting their financial obligations.

“When the financial meltdown started in the second quarter of 2008, and growing worse with each passing month, the 12-percent [interest rate] assumption was no longer achievable. In fact, 6 percent was even a tough goal for some of the companies,” Sen. Edgardo Angara cited from a SEC report.

Cocoplans president Caesar Michelena said the economy is not working the way it should, and a crisis of this magnitude has never happened before.

“At least, the Great Depression was based in the US, but the current financial crisis is global, making investments difficult everywhere,” he said.

Since that position paper, the federation has asked to be allowed to delay the payment of plan holders’ benefits by five years. The SEC approved the request but shortened the time span to three years.

Actuarial Society of the Philippines (ASP) member Orlando Manalang conceded, “I don’t think they had a choice anyway. Some preneed companies would not be able to pay even if SEC did not allow them those three years.”>>>>more

A 3D Wall on my webpage!

I am a "geek" too when it comes to using a computer! (Slight lang!) I grew up practically with my elder brother bombarding me with all these geeky computer terms and showing me how to run the latest applications...etc. My younger brother is also a big follower of him and it came to a point that I too became a "geek"!

Well, here's one software that I "discovered" ahead of my brothers. They too found it cool to use too! Its Cooliris 3D Wall. Check what I have here and see if you too will find it cool.

"Cooliris 3D Embed Wall provides the visual experience of the full Cooliris plug-in within the frame of your browser window!"

I have a website too!

Nowadays, creating one's own personal website just requires a basic skill of understanding and following simple instructions. Of course, it is a different thing if you prefer to have your website look more professional. I made one for myself via Freewebs. Please check it out too. Just click on the site's homepage image below and you will be taken to a short tour to my personal website I also titled: Circle Of Life.

A website is different from a blogsite in the sense that the website has sort of more room for me to present myself - my likes, my favorites..even my slideshows! Those who will catch me there will be treated to a lot, lot more! I even posted some blogs there too! So, see you there!