The Insurance Commission has affirmed its cease-and-desist orders against Mortuaries’ Cooperation Internment Assistance Group, Inc. and Future Life Care Memorial Services Co. (Future Life) due to operating without the appropriate license. READ:
THE Insurance Commission has affirmed its cease-and-desist orders against Mortuaries’ Cooperation Internment Assistance Group, Inc. and Future Life Care Memorial Services Co. due to operating without the appropriate license.
The two companies were ordered to return money collected or received from its clients in its unlicensed conduct of business. The insurance regulator said MCIA Group violated Republic Act No. 9829 or the Pre-Need Code of the Philippines. Meanwhile, Future Life was found selling insurance products without the necessary license from the IC, the regulator said.ive-year period that includes natural death beneits, and a memorial service package, acting as an insurance agency contrary to the provisions of the Insurance Code of the Philippines as amended by Republic Act No. 10607.
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