SUNLIFE

[sweetarwen07]

^ sis mhy_pie, anong package yang 24k annual nyo?  planning to get one din kasi.  thanks! 

[aka_formality]

thanks sis mhy_pie03. actually kaya pa naman ng income ko kaya lang since meron na din kasi akong 1 na existing na VUL din kaya I decided after 1 month na hwag na tuloy. Saka alam ko nagkamali din ako dun kasi padalos-dalos din ako. Oh well, learned my lesson. Di ko na expected na marefund pa payment para sana kahit makancel lang contract ko kasi sa website holder pa rin ako.

[mxherr5]

@formality,

Sayang, it took you 1 month, if you had discerned your heart's
true desires earlier, lol it would have saved you some heartache.

There was a 15 day cooling off period i.e. a free look period.

At any rate, writing them a cancellation letter via your agent I assume?
without hearing back for over a year is plain absurd.

They have physical offices, you can write them via email and you can
call them. Basically you have a lot of options when it comes to communicating
with Sunlife and you chose to just wait and wait for one year?

And I don't think the letter of cancellation would be sufficient to cancel your
policy. They normally require order forms for policy requests like you can find
here

http://apps.sunlife.com.ph/services/VUL_CSV_form.pdf

That's the VUL surrender policy form.

Finally, what's the reason why you want to totally cancel the contract?
By now, it probably doesn't have any more fund values
Your policy would lapsed in due time.

You'd retain the right to reinstate it for a few years if I'm not mistaken.

I don't see any downsides to just letting it go, do you?

[aka_formality]

Thanks for the info sis mcgerr5. The reason I want to cancel the contract is I do not want any contractual obligation attached to my name. But if it is the wise thing to let it go then ganun na nga lang gagawin ko. Thanks again mga sis.

[mhy_pie03]

^Sis kung matagal mo na siyang hindi nababayaran, lapsed na po yan. Hindi na po pwedeng bawiin.

[ayra11]

hi..im really interested in sunlife insurance.. the problem is their hotline sucks.. ive been calling for weeks pero puro machine lang lagi and naka hold.. ive also emailed them several times regarding product inquiry.. well i guess they dont need clients already and im havung thoughts whether their service is good.

[babythug28]

^ haven't tried their hotlines but i can say that some of their agents are the same too good thing i found a very good sunlife agent which really is a financial advocate. yung first agent kasi ng parents ko is the "makabenta lang" type of agent. i wonder why she got promoted?

anyway, i'm happy with our sunlife agent now. he would really take time discussing all your options kahit ilang ulit ka pa magtanong (at kahit paulit ulit pa yung tanong).

[babythug28]

^ PM sent sis. Matyaga yun sis and he conducts free group seminars na pwede mong salihan (alam ko nag iinvite sya ngayon sa mga taga manila) kung hindi ka pa sure na kukuha ng policy or mutual fund. pwede kang makinig muna or magtanong tapos contact mo na lang sya ulit kapag decided ka na

[ayra11]

ok tnx

[sachism]

Same here. I am very happy with my agent sa Sunlife. Very helpful, knowledgeable at patient.

[raven03]

Yung agent namin, first two years lang nagparamdam. Ngayon, when I e-mail hindi na nagrereply. Mahirap pa naman kasi we live out of the country. I need sana our policy copies and we don't have family in the Philippines anymore gusto ko sana i-meet sya to get the copies since I manage to go to the Philippines once a month. Kaso wala reply, sana may sumagot sa hotline when I call.

[babythug28]

^ sorry sis ngayon ko lang nabasa eh..[textspeak!] i'll PM you his contact details too

[katkat]

may sunlife flexilink kami almost 1 yr na. pero in case ma-miss namin 'tong payment deadline, ma-terminate daw yung policy.

ang question ko po, so terminate na yung insurance, pati po ba yung part na napunta sa investment/mutual fund, wala na rin? or pede yun ituloy hulugan as MF na?

pero kuha ulit kami ng VUL next yr, incase di talaga kami umabot ng payment ngayon. tapos mag-open din kami ng MF, baka sa sunlife din.

thank you in advance.

[sis.cattleya]

naku sis, sana mabayaran niyo. sayang naman nakapagstart na kayo. actually, okay naman ang market so may gain na ang investment niyo although konti pa lang yun. mas maaappreciate mo kasi yung gain after 5 years.yes, terminated na yung policy and di niyo rin makukuha yung kinita from investment kasi ibabayad na yun sa balance ng premium na di niyo mababayaran if in case nga na materminate or maglapse ang policy. baka naman aabot ng 13th month yung anniv ng policy. may grace period pa naman na 30 days, sana makaipon kayo enough during sa grace period na yun para makumpleto niyo yung bayad ninyo sa premium for this year. then, puwede naman baguhin yung mode of payment na comfortable kayo, if gusto niyo semi-annually, quarterly, or monthly. regarding dun sa question mo na kung puwede ilagay sa MF, hindi rin kasi mag-one year na yung policy, within 15 days lang from the time na na-approve yung policy saka puwedeng ilipat to MF. sis, advice ko talaga if kakayanin niyo, complete niyo na lang yung premium niyo this year. sayang kasi yung hinulog niyo but of course gaya ng lagi kong sinasabi sa mga taong nakakausap ko, you'll be the sole judge of this.

[sis.cattleya]

sis @raven03 nagtry ka na mag-email sa customer service? paki-pm sa kin ang NBO baka kasama ko nagtatago lang. if not, ill try to find someone from that branch. kung wala na kasi yung agent niyo dun, dapat malaman yun ng branch manager or unit manager para siya yung mag-asikaso sa inyo. para di mo na rin isipin pag-uwi dito. at least, magiging open na communication and marereview uli ang policy and most important thing, may mag-aasikaso sa inyo.

[m_lim]

ako naman talagang naguluhan bakit kaya separate policy pa ginawa saken eh iisa lang naman ang beneficiary ko. sun flexilink yung akin. payable 20 years.

pag flexilink ba anong makukuha mo after mo magbayad ng 20years?

[sis.cattleya]

hi sis m_lim. tinanong mo ba yung agent mo kung bakit dalawa yung pinakuha sa iyo? okay lang kasi kung talagang budgeted ng policy owner or kung talagang gusto owner na mag-invest ng mataas at risk taker siya talaga when it comes to investing.pero if wala sa budget mo, ano yung sabi niya ba't daw dalawa yung kailangan mong kunin? yung question mo about if may makukuha ka after 20 years? definitely, pag natapos mo magbayad and maganda perfomance ng mga funds, may gain na yung investment mo. like yung pinakita sa proposal mo. yung under fund value. yun ang illustrative value mo after 20 years. separate yun sa death benefit and yung rider (eg.accidental or hospitalization income) na covered na ng policy. withdrawable naman yung fund value na kikitain pero i suggest wag mo kunin lahat para may matira sa investment mo.

[mxherr5]

@kat, who told you that the policy would be
terminated, your agent or a notice from sunlife?

Is the payment deadline you're referring to,
the same date as your policy's anniversary?

Are you on a quarterly payment schedule that
the premium is too big for your budget?

I echo cattleya's advise. If you plan to get
another VUL next year, I'd rather do everything
I could to save your current policy.

If I'm not mistaken the 1st year's charge is
85%, That's the biggest chunk of the VUL's charge
right there. Damn! Sayang. You'd be better off
with level term insurance if your budget isn't stable
yet.

At least term isn't front loaded(meaning all
of the charges are on the 1st few years) so even
if you suffer financial difficulties, you could
drop it without major financial repurcussion.

But about your question, no you won't be able to
keep just the investment part.

What happens if you do not pay your premium. Sunlife
would deduct your investment fund until its depleted.

If its not enough to absorb the charge, I'm not sure
what happens to your funds.
I'll have to read the contract to be sure but I would
guess that it would stay there until you surrender
the policy? or the period for reinstatement lapses.. I think :p

[katkat]

@sis.cattleya & mxherr5, thank u so much. my bad: lagpas 1 yr na pala, bale naka-3 payments na in total. I got notice/letter from sunlife ma-terminate daw policy after 15days grace period.

yes po the deadline is same as policy anniversary, oct 2010 kasi kami kumuha. semi-annual payment, supposedly manageable naman its just na-strapped kami ngayon. we missed payment last May, tapos etong october may notice na.

I was thinking nga ng term insurance tapos magopen ng MF, para the least pressure.

pag flexilink or maxilink, mga up to ilang yrs po ba 'to babayaran? I mean, until yung MF funds na magbayad ng premium.

if kuha po kami ulit ng same policy, mas malaki na yung premium due to age? aside from that OFW pa naman si hubby (siya yung insured) kaya mas mataas daw.

thank you po ulit.

[lee2ziyan]

may sun life pala dito.  sobrang natutuwa ako sa nakuha kong plan sa sun life.  thankful ako sa advisor ko kasi since very efficient saver din siya, natuturuan niya ako to budget yung ipambabayad ko sa premium.  sana nga marami pa ang mga filipino na maging aware financially.