Sun Life is pleased to announce that credit card payments are now accepted for VUL plans. Previously, only traditional life insurance policyholders can use this facility. But not anymore because of this latest update of Sun Life to give its clients more options in paying their life insurance application and premium renewals.
READ: Sun Life Insurance Plan Payment Options
3 Ways to Pay Sun Life VUL Plan thru Credit Card
It is now available for a regular peso-denominated VUL plan up to Php 100,000 per modal transaction. Meanwhile, are the 3 ways on how you can pay your plan using a credit card.
Sun Life’s Client Service Center
You can pay it in over 70 client service centers (CSC) nationwide. You just need to present your credit card to a Sun Life representative in proper crediting of your payment. However, this only applies to new applications.
READ: Sun Maxilink Prime | The Best-Selling VUL Plan from Sun Life
Another way to pay your initial premium for your new application is through a phone call. You may call our client care (632) 849-9888 or Policy and Plan Accounting at (632) 555-8888 loc 5690 to get an approval code. Then, get credit card sales at any CSC, fill out and sign before submitting it again to CSC.
Existing VUL policyholder is also allowed to pay their premiums via credit card thru an auto-charge agreement(ACA). Just ask your financial advisor for ACA enrollment so your agent can submit it in any CSC.
Frequently Asked Questions:
What kind of plans can be paid using a credit card?
Only regular pay Peso VUL plans can be paid using a credit card. To sum up, these are Sun Flexilink, Sun Maxilink Bright, and Sun Maxillink Prime.
What is the limit per credit card transaction?
The limit is Php 100,000 per modal payment (monthly, quarterly, semi-annually, or annually).
What type of card is acceptable?
Sun Life credit card payments via Visa and Mastercard-powered credit cards.
Why can I not pay my renewal premium using the first two options?
Opening the credit card facility for VUL plans holders is made possible to make it easier for you to do business with Sun Life. Renewal premium can only be paid through ACA is to ensure that you will not appear to be investing from credit. The only trigger for charging the premium is on your policy due date rather than any time you may want.
Federico is an electronics engineer, financial blogger, insurance agent, and a certified investment solicitor. A multi-awarded financial advisor with clients ranging from lawyers, doctors, engineers, accountants, business owners, company directors, and OFWs to minimum wage earners had sought advice from him in achieving lifetime financial freedom.
Can I still use my cc for payment 15days before due date?
There’s a note that says I can only use that facility 25 days before or 30 days after due date?
Yes, Gel. You may still use it. Call the hotline if you can no longer press the pay now button. You’re welcome!
Hi Sir Federico,
Tanong ko laang po sana kung paano bayaran ang insurance through credit card?
Hi Arnel. As of this moment, you can now pay using your cc via Sun Life mobile app or Sun Life client’s portal. If you need further assistance or other options, just feel free to connect with your advisor. Thanks 🙂
Hi Sir Federico. How many days should I pay my credit card if I use it in paying my policy?
Hi Kath. Ideally, you need to settle your dues before the due date. Sometimes it could a challenge as we become busy with our jobs and may miss our due date. When it happens, you have 30 days grace period to pay your balance. Thanks 🙂
Hi Federico. Can I pay my VUL premium thru credit card if it is above 100k?
Hi Lou. You may pay your plan up to Php 100k per transaction. It means that if you have a Php 200k plan with us, you may still settle it through credit card if it’s paid semi-annually (2 transactions) or quarterly. Anyways, if you have an existing plan, you need to enroll in an auto credit facility if you wish to settle it via a credit card.
Hi Federico. Can I pay my Sun Life account using my Citibank credit card?
Hi Nathaniel. Are you referring to your premium renewal? Yes, you can possibly do but it must be enrolled as auto-credit. Just contact your advisor for the enrollment form. Thanks 🙂
Hi Federico. I want to pay the insurance premiums of my children through my credit card. Which type of card is acceptable by Sun Life
Hi Luz. We only accept Visa and Mastercard for now. Thanks 🙂