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This article from rappler.com will give you a general view of what is Memorial Plan (Life Plan) and why should every Filipinos needs it. 


Heritage Park Taguig 
Memorial plans: Preparing for the future today

Often overlooked, memorial plans give tremendous benefits to those who get them early

Preparing for the future in personal finance usually involves the basic instruments: investment and insurance. But there is one instrument that is often overlooked but gives tremendous benefits to those who get it: life plan, more popularly known as memorial plan.

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