SUNLIFE 2

[cancercrab]

Hello. I have a question regarding claims of Sunlife. Any FA out there who can help answer this please??

Insured died in January. Policy lapsed due to non-payment.
When claiming, Sunlife said they won't release the claim because it's lapsed.
Shouldn't it be backtracked? Returning the charges billed (from the date of death to present bill) to the already dead insured and then release the claim?

Thanks in advance!

[fragmentedmind]

CIB and HIB are two very different things.

HIB means that if you are hospitalized, you get a 1,000 PHP every day that you are confined for a minimum of three days (double if in ICU or one of the dread diseases listed in your policy).  it's not tied limited to the paying period but rather there is a maximum number of days. 1,000 days ang max so meaning, if you get confined at naka-claim ka na ng HIB benefit for a total more that 1,000 days during the duration of the policy, wala ka ng makukuhang daily income benefit.

CIB is a lump sum (meaning one time payment) equivalent to 60% of your face amount na ia-advance sayo ng sunlife if you are diagnosed with one of 36 critical illnesses na nasa list ng sunlife so you can use that for your treatment. the catch here is, once the 60% is released to you, 40% na lang ng face amount ang makukuha ng beneficiaries mo when you die.

your agent should have discussed all these with you, btw.

Post modified. Please refrain from quoting long posts, use the @ or ^ sign instead.

[PetiksPinayInvestor]

Remember that the policy is a contract: the policy-owner's obligation is to deposit the premiums to keep the contract in-force while Sun Life's obligation is to pay the benefits as stated in the contract.

Kung lapsed ang policy ibig sabihin, lapsed rin ang kontrata at ang mga kasunduang nakalakip dito

However that being said, baka meron pa rin mailalaban jan

Look for the agent who serviced the family. Kung wala na, look for the branch where that agent belonged. May manager po dun. Yun ang tenured advisor. At marami na pong karanasan sa mga ganyang kaso. Baka po matulungan sila sa pag claim.

Post modified. Please refrain from quoting long posts, use the @ or ^ sign instead.

[fragmentedmind]

Remember an insurance is a contract. Contracts are agreements which in an insurance usually means if you pay your premiums and your policy remain active, then you get the benefits as stated in the policy.

If your policy is lapsed due to non-payment, that is in essence you broke the contract and the insurance company will no longer be obligated to give you anything.

Depending on the type of insurance, you may be able to get something back.

If it's term life, then usually wala, dahil walang cash value ang term life.

Kung VUL ang type ng insurance (meaning insurance+investment), you can claim the fund value. Fund value is whatever the investment part of your policy is currently worth (this not equal to your premiums paid by the way). Minus of course any fees.

Post modified. Please refrain from quoting long posts, use the @ or ^ sign instead.

[PetiksPinayInvestor]

^^ If VUL, kaya siya nag lapse kasi naubos na yung fund dun sa investment component ng policy.

Naubos na siya dahil every month may charges. Nababayaran ang charges through cancellation of units dun sa fund.

As long as positive ang fund value, may pang-pay ng charges kaya hindi mag la-lapse ang policy agad agad for a VUL

Hence to answer the question kung may makukuha pa sa lapsed insurance tapos VUL siya, ang sagot po ay wala

[martiella]

Wala ba talaga rider pag ofw? Anong mas maganda if ofw ang kukuha ng insurance?

[fionaapple]

^baka may makakasagot po especially agents of Sunlife:

pwede pa bang ma-amend ang plan ko from smoker to non-smoker?kasi nung kinuha ko yung Maxilink Prime ko at the age of 27, smoker pa ako nun. pero ngayon, 1 year na akong naka-stop. possible pa bang ma-amend yun to reflect na non-smoker na ako? if yes, what proof should I present? also, marereduce ba ang aking premium kung maconvert to non-smoker ang aking plan?

pasensya na sa pagtatanong dito sa thread. wala kasing kwenta yung naging agent ko. hindi na ako nirereplyan...

[mxherr5]

Hence to answer the question kung may makukuha pa sa lapsed insurance tapos VUL siya, ang sagot po ay wala

  automatic premium holiday pag hindi nag bayad ng premiums
at walang mangyayari basta hindi pa naubusan ang fund value.

Nahilo ata si fragmentedmind 

[pinkcoyote]

Fionaapple, yes pwede yun if 1year ka nang clear of nicotine. And to prove this, you need to undergo cotinine testing (urine) at any Sunlife-accredited lab. And yes, marereduce ang premium mo if non-smoker rate na sya. Your agent should assist you with this, tell him/her. Kung hindi mo na sya mahagilap, I can refer you to someone who can assist you.

[fionaapple]

^thanks a lot. Malaking tulong. nabanggit kasi yun sa akin before ng agent ko na pwede daw. Meron bang sunlife accredited lab sa marikina-pasig-rizal area?

[perasense]

^yes. you have to talk to your agent so they can request an authorization to have you tested an an accredited lab.

[rasee16]

CIB is a lump sum (meaning one time payment) equivalent to 60% of your face amount na ia-advance sayo ng sunlife if you are diagnosed with one of 36 critical illnesses na nasa list ng sunlife so you can use that for your treatment. the catch here is, once the 60% is released to you, 40% na lang ng face amount ang makukuha ng beneficiaries mo when you die.

your agent should have discussed all these with you, btw.

Post modified. Please refrain from quoting long posts, use the @ or ^ sign instead.

Wala pong CIB rider sa Maxilink prime. HIB lang ang meron. Sa Flexilink lang pwede ito if VUL product. And hindi ganyan ang terms na 60% naadvance from the face amount at 40% nalang ang death benefit. Stand alone rider sya, separate from the face amount. Let's say 1M face amount for Flexilink then 500k CIB rider, pag nadiagnose si client, marerelease sa kanya ang 500k na CIB but intact parin ang 1M face amount plus fund value.

Baka po sa trad products yung sinasabi nyong naadvance na 60% CIB just like in sun acceler8. Living Benefit Rider yun. Sa VUL kasi hindi ganun.

[iamtsina]

Not sure if this matters, pero quarterly yung payment ko for Sunlife Maxilink but I'm paying monthly. Or mas maximize ko siya kung quarterly na lang ako magbayad? Thanks

[rasee16]

^hindi big deal yun sis as long as nakakabayad ka, yun lang ang importante.

[perasense]

@rasee16

As of Nov. 9, meron ng CIB ang Maxilink Prime. Sun Life now allows the adding of critical illness benefit (CIB) and hospital income benefit (HIB) riders in all its whole life insurance and limited pay VULs, which includes Maxilink Prime. 

[rasee16]

^oh yes thanks for clarifying. Pero bagong ruling lang kasi yun eh, not yet applicable when purple_tips got her maxilink last september

[m_lim]

anong maganda at di maganda sa limited pay VUL?

[perasense]

@m_lim

maganda: it's limited pay. you know exactly when you stop paying, so you can plan on how to use the money na naka-allocate for your premiums after the paying period.

hindi maganda: limited pay VUL's doesn't mean the premiums go away after the paying period. binabawas lang sa fund mo yung dapat na premiums after the paying period. ergo, nababawasan ang fund mo.

[mxherr5]

And sa Sunlife, ang limited pay VUL ay may mas konting premium charges
sa regular pay. 

[Maxim04]

hi mga sis! may marerefer ba kayo na agent, Cavite based? interested kami ng husband ko sa maxilink prime. Thanks!