UPDATED: 12 June 2020
Congratulations! You are now a step closer to being financially free. As a Sun Life policy owner, you have to settle your insurance premiums to keep it in force and stay on track with your goals. You can do it by paying in any Sun Life Client Service Centers (CSCs) or let your financial advisor collect it from you.
Sometimes, these can be inconvenient for you. So fret not because you have several ways on how you can pay your Sun Maxilink Prime, Sun Maxilink 100, Sun Fit and Well, and other Sun Life insurance plans.
So here’s how to pay your Sun Life insurance plan.
- Over-the-Counter in Banks
- Online and Mobile Banking
- GCash, Paymaya, and other Electronic Cash Wallets
- Bills Payment Centers
Pay Premium in Sun Life via Over-the-Counter (OTC)
Sun Life Accredited Banks for OTC payments:
- Banco De Oro (BDO)
- Bank of the Philippine Islands (BPI)
- Rizal Commercial & Banking Corporation (RCBC)
- Security Bank & Trust Company (SBTC)
- UnionBank of the Philippines (Unionbank)
- Metropolitan Bank and Trust Company (Metrobank)
So here are the steps in paying Sun Life Insurance Plan via over-the-counter
1. Go to the nearest bank.
2. Get a deposit slip if applicable and choose Bills Payment Facility, and make sure it’s not a deposit.
3. Write/pick Sun Life of Canada (Philippines) Inc.
4. Indicate your policy number as a reference or subscriber’s account number.
5. Proceed to counter and pay.
You can also pay using a check transaction slip if you want to pay using your check just follow the previous procedures.
Note: You may see two Sun Life account upon paying your due, i.e., Sun Life of Canada (Philippines) Inc. or SLOCPI and Sun Life Asset Management Co. Inc. or SLAMC. Please indicate SLOCPI when paying your insurance policy.
Over-the-Counter via BPI Express Assist (BEA)
- Go to BPI Express Assist Online
- Choose “Bills Payment” as your transaction
- Click Sun Life of Canada (Philippines) Inc. under the Insurance Category
- Input your “Subscriber’s Name” and “Policy Number”
- Go to your selected BPI Branch and pay
Online Banking and Mobile Banking
Don’t you like convenience? It is why online and mobile banking the preferred choice of my clients in paying their premiums. But first, you have to enroll your Sun Life plan as a bill. Don’t worry, you can do it online, and once registered, you can now pay it both online and mobile app of your bank.
Via BPI Express Online
So here are the steps in paying your Sun Life insurance plan via BPI online banking:
1. Log-in to Your BPI Express Online Account
Login to your account in BPI Express Online. Click here to access your BPI accounts online.
2. Click Other Services and then Enroll Billers
After logging in, you can now click the other services tab and then click the Enroll Billers. Once done, you may click next.
3. Choose “SUNLIF”
Choose “SUNLIF” as your biller and then input your policy number as your reference number. Once done, you can now click next.
4. Review the Information and Click Done
You may review the details and make sure you are enrolling the correct biller.
5. Confirm the OTP
You will be required to confirm the enrollment via OTP, which will be sent to your mobile number.
6. Click Done Once Enrollment is Successful
You will be directed to a page similar to this, which confirms a successful enrollment.
7. Click Payment/Load
Now that you have already enrolled Sun Life as a biller, you can now pay your premium. Click payment/load and insert all the information needed, like the amount you need to pay and the policy number of your insurance plan. Click next.
8. Pay Your Premium
Review all the details and then click confirm. You will have to verify your payment through OTP, and you’re done.
Via BDO Online Banking
So here are the steps in paying your Sun Life insurance plan via BDO online banking:
1. Log-in to Your BDO Online Account
Login to your account in BDO Online. Click here to access your BDO accounts online.
2. Click Pay Bills and Reload
Upon signing in, click pay bills and reload > click enrolment > company biller > enroll. Put your policy number as the subscriber number and select other channels you may want to enroll.
3. Wait for the Confirmation Page
Once the enrolment is successful, you can now pay your due.
4. Pay the Premium
Choose Sun Life of Canada Philippines Inc. and fill out the remaining items then click submit.
That’s it. You just need to enroll your Sun Life insurance first and then pay it just like how you settle your utility bills online.
Via Metrobank Online Banking
So here’s how you can enroll your Sun Life plan via Metrobank online.
- Go to Metrobank Online and log-in to your account
- Click “eBanking Solutions.”
- Under Pay Bills choose the Register a New Biller
- Select Insurance and Preneed from the Category dropdown field.
- Click the dropdown button on the Biller Name field.
- Choose Sun Life of Canada – Peso or Sun Life of Canada – Dollar
- Input your policy number in the Subscriber/Account No. field.
- You may leave the Reference No and Phone No. fields blank.
- Click Continue and then Register New Biller.
So here’s how to pay your Sun Life plan via Metrobank online.
- Go to the Metrobankdirect online account and log-in
- Proceed to the Pay Bills page, select Sun Life of Canada in the list of registered billers.
- Fill out the details, such as the amount of your premium and payment type–select “Immediate.”
- Choose the savings account you want to use.
- Then click “Continue” to proceed with the payment.
- And then click the “Confirm” button.
- Lastly, review your payment transaction.
Pay Sun Life Premiums via GCash
So here are the steps on how to pay Sun Life via GCash:
1. Launch the GCash App
Open the GCash application on your phone and then click the pay bills facility.
2. Choose Insurance
Then choose the most appropriate biller category, which is insurance.
3. Click Sun Life of Canada Phils
4. Fill-out the Form
5. Payment Confirmation
Click the confirm button to proceed in paying your premiums thru GCash. Payment will be posted 2-3 business days after the payment confirmation.
Pay Sun Life Premiums via PayMaya
You can also pay your Sun Life premiums through Paymaya. First, you need to login to your PayMaya account and go to Pay Bill. Just make sure that you have sufficient balance in your account. Now, choose Sun Life of Canada as the biller and insert your policy number as the reference number.
Pay Sun Life via Credit Card
Sun Life is now accepting credit card payments for the VUL plan. However, this option is only available for new life insurance applications and auto-charge agreement for existing clients. Just ask your financial advisor about it, and he will give you the forms needed for the auto-charge arrangement.
Auto-Debit Arrangement (ADA) Facility
You can also automate your payments to Sun Life through the auto-debit arrangement. For now, this is only available for BPI and BDO account holders. Just ask your financial advisor for the form and sign it. You don’t need to go to your respective bank. You just have to give the signed form to your FA, and he will do the work for you.
Other Payment Facilities
Aside from the banks, you can also pay your premiums to SM Customer Center, thru G-Cash, Smart Money, Bayad Center, etc. But remember to put Sun Life of Canada (Philippines) Inc. as the payee and your policy number as your reference. And don’t forget to bring a copy of your billing statement.
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.