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Loyola Life Plans Inc. (Loyola Plans Consolidated Inc.) and Lumiqued vs. ATR Professional Life Assurance Corp. (Asian Life and General Assurance Corp.)

LOYOLA LIFE PLANS INCORPORATED (NOW LOYOLA PLANS CONSOLIDATED INC.) AND ANGELITA D. LUMIQUED, PETITIONERS, VS. ATR PROFESSIONAL LIFE ASSURANCE CORPORATION (NOW ASIAN LIFE AND GENERAL ASSURANCE CORPORATION), RESPONDENT.

G.R. No. 228402 | 2020-08-26

THIRD DIVISION
 
 
D E C I S I O N
 
CARANDANG, J.:
 
Before this Court are two consolidated Petitions for Review on Certiorari[1] under Rule 45 of the Rules of Court, assailing the Decision[2] dated February 4, 2016 and the Resolution[3] dated November 17, 2016 of the Court of Appeals (CA) in CA-G.R. CV No. 97528.
 
Antecedents


Loyola Life Plans, Inc. (Loyola) is a pre-need company engaged in the business of insuring the lives of its plan holders through its Timeplans (pension contracts) and Lifeplans (memorial service contracts), which are covered by insurance benefits provided by several insurance...