Data from the Securities and Exchange Commission (SEC) showed sales of education plans tell by almost 60 percent to P5.75 billion from P13.26 billion the previous years.

Sales of pension plans were likewise down from P19.43 billion in 2004 to just P11 billion in 2004 to just P11 billion the following year.

The downward trend in pre-need sales has also affected the sales of life plans as it registered a 10.25 percent drop from total sales worth P4.22 billion in 2004 to sales amounting to only P3.78 billion last year.

Total initial collection industry-wise was likewise down at P2.27 billion last year from P4.69 billion in 2004, representing a 51.52 percent decline.

Initial collection for education plans was down by 61.11 percent from P1.43 billion in 2004 to P556.25 million last year. For pension plans, it was at P1.38 billion last year from P2.62 billion in 2004. Lastly for life plans, initial collection was at 338.72 million in 2005 from P645.64 million the previous year.

In terms of number of plans said, the education plan category registered the biggest drop of 61.79 percent. This was because only 49,439 education plans were sold last year against a total of 129,383 plans sold in 2004.

Meanwhile, total number of pension plans sold last year was only at 138,451 versus 253,342 the previous year. This represents a 45.46 percent decline.

In addition, total of number of life plans sold last year reached only 114,706, a 7.96 percent decrease from a total of 124,621 life plans sold in 2004.

On a consolidated basis, there were only 302,596 pre-need plans sold last year, 40.42 percent down from a total of 507,846 plans sold in 2004. (AMM)