My Sun Life PH Terms and Conditions

Welcome to a Brighter Life with Sun Life!

Welcome to a Brighter Life with Sun Life!

Our My Sun Life PH offers Sun Life Clients a convenient and secure platform to access, view, and manage your accounts with Sun Life via your web browser or through a mobile app. These Terms and Conditions govern your use of My Sun Life PH.

You may choose not to create a My Sun Life PH account or cancel your My Sun Life PH account at any time without charge. Access to or downloading the My Sun Life PH is not equivalent to applying for an insurance or availing any Products and Services with Sun Life.

You agree that the initial use of your Access Credentials in accessing My Sun Life PH is the legal equivalent to your written assent to these Terms and Conditions and that your identity as an authorized user of My Sun Life PH shall thereafter be conclusively established by the presentment to us when required of said Access Credentials. 

My Sun Life PH may be accessed at any time except when we are undergoing system maintenance and if Sun Life notifies you of the unavailability of the same.

Sun Life may, at any time, restrict, block, cancel, or suspend access to My Sun Life PH, subject to relevant notification requirements as may be required under Applicable Laws.

A. Definitions

“Access Credentials” refers to your username, password, OTP, biometric authentication methods, policy and account number(s), and other account-related information.

“Applicable Laws” refers to both general and special laws that govern each Sun Life entity, including lawful orders and issuances of government and other regulatory bodies.

“Client Care” refers to Client Care Center (SunLink), Sun Life’s customer contact center available at https://www.sunlife.com.ph/en/about-us/contact-us/.   

“Competent Authority” refers to the court, AMLC, and other government bodies exercising judicial, quasi-judicial, regulatory, or administrative powers over Sun Life. 

“Products and Services” refers to life insurance, pre-need, variable universal life, mutual funds, and such other financial products and services that may be offered by Sun Life.

“Sun Life” refers to either or both of Sun Life of Canada (Philippines), Inc. and Sun Life Asset Management Company, Inc., and Sun Life Financial Plans, Inc., as applicable under the circumstances.

“Sun Life Client” refers to you, our client with an existing insurance policy, VUL account, mutual fund account, or other Products and Services with Sun Life.

“Transaction” refers to any instruction, including but not limited to account opening, account information update, payments, fund withdrawals, fund-switching, adding new funds, and other transactions involving the Products and Services conducted in whole or in part via My Sun Life PH.

Your Account on the Client Portal and Mobile App

Only Sun Life Clients are allowed to register an account with My Sun Life PH. To create an account, you may be asked to provide a secure activation link or alternatively, provide certain information to enable Sun Life to validate that you are an existing Sun Life Client. To access the mobile app, you will need to download the same via Google Play (for Android users) or App Store (for iPhone users) and install it on your device.

As a regulated financial institution, Sun Life has a duty to perform Know-Your-Customer (KYC) procedures, which includes, among others, requiring you to submit a copy of a valid ID and other supporting documents. You may also be asked to grant My Sun Life PH certain access permissions to your mobile device to allow Sun Life to perform liveness detection and other electronic KYC protocols as part of the account registration process. To complete the registration, you must comply with all the requirements that may be required by Sun Life and Applicable Laws. 

Your My Sun Life PH account shall be under your true and full name. As a Sun Life Client, you have a duty to provide true, correct, complete, valid, and subsisting information and supporting documents.

You will receive an in-app notice or prompt once your account registration is completed.

Sun Life reserves the right to approve or reject the creation of a My Sun Life PH account at its sole discretion based on legitimate business reasons. Please note that account registration may be blocked or suspended for legitimate reasons, for example, as a security measure to protect your My Sun Life PH account against fraudulent registration, or in compliance with a regulatory or court order. In the unfortunate event that you cannot proceed with account registration, you may reach out to Client Care for additional information.

In creating an account and accessing the My Sun Life PH, you represent and warrant that:

 

  1. You are an existing Sun Life Client, and you will use My Sun Life PH solely for its intended purpose.
  2. All information and documents that you provide, submit, or present to Sun Life in connection with your account registration or any Transaction are true, correct, complete, valid, and subsisting. Furthermore, the attestations that you provide when making a Transaction, including statements and declarations about your health, nationality, or current location are true and correct.
  3. You shall update your account information when required by Sun Life to enable it to comply with Applicable Laws.
  4. When you provide, submit, or present information to Sun Life belonging to third parties, you have secured consent from said third parties or otherwise have other lawful basis to collect and disclose the same to Sun Life, and allow Sun Life to process such information pursuant to the Transaction. 
  5. The funds you use to avail or otherwise invest in our Products and Services come from legitimate sources, and that you shall not use My Sun Life PH for unlawful, illegal, or fraudulent purposes. Use of My Sun Life PH for unlawful, illegal, or fraudulent purposes may result in criminal prosecution under Applicable Laws, including but not limited to Anti-Money Laundering Act, Data Privacy Act of 2012, and Cybercrime Prevention Act of 2012.
  6. You undertake to immediately notify Sun Life via Client Care if you believe that your My Sun Life PH account has been compromised. You shall also immediately notify Sun Life if the device where the My Sun Life PH is installed is lost or stolen.
  7. You shall not analyze, modify, decompile, disassemble, or reverse engineer the My Sun Life PH, in whole or in part.
  8. Nothing in these Terms and Conditions shall interfere with, or result in breach of, any of your existing obligations or agreements with third parties.

Sun Life aims to provide you a secure and convenient platform to manage your accounts and conduct Transactions via My Sun Life PH. Nevertheless, the security of your account is a shared responsibility between you and Sun Life. As a Sun Life Client, you agree and understand that you have the following obligations to keep your My Sun Life PH account safe and secure:

 

  1. Always keep your Access Credentials confidential. Your Access Credentials should only be known to you and you should not, under any circumstance share your Access Credentials with anyone else.
  2. You agree and undertake to change your password from time to time. When changing your password, choose a password that does not relate to any readily accessible data pertaining to you. Examples of readily accessible data include your address, phone number, and date of birth. Do not let any unauthorized person have access to your mobile phone or leave your mobile phone unattended while My Sun Life PH is open.
  3. Sun Life constantly scans the My Sun Life PH to look for issues and vulnerabilities and develop patches and updates to optimize the application. Keeping your My Sun Life PH up to date helps prevent threat actors from compromising your account. You agree to immediately install updates to the My Sun Life PH as soon as they are made available. In the same manner, you agree to keep your mobile device’s software and operating system up to date.
  4. One-Time Password (OTP) is an added security feature that requires you to enter a unique password for each Transaction. If your mobile device supports it, you may also enable biometric authentication to access My Sun Life PH.
  5. It is important for a Sun Life Client to keep his/her contact details, such as mobile number and email address, valid and up to date. Notifications and certain security measures, such as OTP, will be sent to you via SMS and/or email. You undertake to immediately notify Sun Life via Client Care if you believe that your mobile device or email account has been compromised.

You can delete your My Sun Life PH account at any time, provided, that deletion shall become effective after the period as notified to you via My Sun Life PH (“Holding Period”) to allow for the completion of pending Transactions, if any. If you change your mind, you can choose to cancel your request for account deletion within the Holding Period. Deletion of your My Sun Life PH account does not affect the status of your existing Products and Services.

You may also choose to delete your My Sun Life PH account with immediate effect, but you will no longer have visibility (via My Sun Life PH) on the status of your pending/outstanding Transactions at the time of the deletion.

In any case, you may reach out to Client Care to check on the status of your pending/outstanding Transactions.

Sun Life may send you notifications, electronic copies of your statements of account, and official receipts through your registered mobile device or email, or both. We may also choose to send certain types of notifications only through specific channels. You can manage these preferences in the Settings menu of your My Sun Life PH account. It is your responsibility to check from time to time what notifications or messages you may have in all of the available channels. You agree that a notice or communication is deemed received by you at the time of our transmission of the same.

As a Sun Life Client, you have the responsibility to check if your mobile network provider or internet service provider supports the text messaging, email service, mobile internet, and is capable of receiving push notification. You shall be solely responsible for the fees, if any, that may be charged by your mobile network or internet service provider. Receipt of any message or notification may be delayed or prevented by factor(s) affecting your mobile network provider or internet service providers and other factors outside the control of Sun Life.

Any online acknowledgments or other messages that may appear on your screen for transactions entered do not mean that the transactions have been received, accepted or rejected by Sun Life. These acknowledgements are only an indication that the transaction information entered by you has either been transmitted or cannot be transmitted to Sun Life. No transaction shall be deemed accepted until you receive a written confirmation from Sun Life. You are responsible for reviewing all confirmations received by you in order to verify their accuracy. If you do not receive a written confirmation within five (5) business days of a Transaction, you agree to immediately notify Sun Life. 

You agree that you shall not rely on email if you need to communicate with Sun Life right away. For urgent concerns, please call SUNLINK Client Care at 8849-9888, or toll-free at 1-800-10-SUNLIFE (7865433) from any PLDT line if you are calling from outside Metro Manila. For calls outside the Philippines, please contact (+632) 8849-9888. International rates may apply. You agree that Sun Life may respond to you by electronic mail with regards to any matter related to the service.   

Let us both contribute to saving the environment by going paperless. My Sun Life PH allows you to view or download an electronic copy of your contracts covering your insurance, investments, and other financial products with Sun Life. Account servicing documents such as statements of account are also available digitally via My Sun Life PH or sent to your registered email address.

If, for any reason, you wish to request for a copy of your contract and other documents in paper form, you may reach out to Client Care. Please make sure that your registered mailing address is updated in our records. Appropriate charges for this request may apply.

As a financial services provider, Sun Life conducts client suitability assessments as required under Applicable Laws. The purpose of the assessment is to determine (or update, as applicable) the Sun Life Client’s financial situation, needs, capabilities, and overall risk profile. You will be asked to provide certain information (described below) for purposes of conducting the assessment.

 

TO ENABLE SUN LIFE TO OFFER PRODUCTS AND SERVICES THAT ARE IN LINE WITH YOUR NEEDS AND RISK PROFILE, IT IS NECESSARY THAT YOU PROVIDE ACCURATE AND SUFFICIENT INFORMATION ABOUT YOUR KNOWLEDGE, EXPERIENCE, FINANCIAL SITUATION, FINANCIAL CAPABILITY (INCLUDING ABILITY TO BEAR LOSSES), AND INVESTMENT OBJECTIVES (INCLUDING RISK TOLERANCE). OTHERWISE, WE ARE NOT IN A POSITION TO ACCURATELY DETERMINE WHETHER A PARTICULAR PRODUCT OR SERVICE IS APPROPRIATE TO YOU, GIVEN THE LIMITED INFORMATION AVAILABLE.

 

When investing in our products and services, please be mindful of your current risk profile, which can be viewed at your User Profile. By investing in our products and services, you confirm that you are aware of your current risk profile and fully understand the risk rating of the products and services that you are investing into.

As your circumstances and attitude to risk can change over time, we will require you to update your risk profile at least once every three (3) years. However, should there be any change in your financial status before the end of this period, kindly notify us so that the appropriate client records can be updated immediately. If you think your current risk profile is no longer up to date, you may choose to take another assessment to reflect your current needs and risk profile.

 

YOU AGREE TO HOLD SUN LIFE FREE AND HARMLESS AND TO BEAR THE RISK OF YOUR INVESTMENT OR FINANCIAL DECISION UNDER THE FOLLOWING CIRCUMSTANCES:

  1. YOUR NEEDS AND RISK PROFILE WERE BASED ON INACCURATE OR INSUFFICIENT INFORMATION THAT YOU HAVE PROVIDED; AND
  2. YOU DECIDED TO INVEST IN PRODUCTS AND SERVICES THAT ARE OF A HIGHER RISK RATING THAN YOUR OWN RISK PROFILE. 

Sun Life may suspend or freeze your My Sun Life PH account and/or access to any of or all your Products and Services in compliance with a freeze order issued by a Competent Authority, usually in connection with anti-money laundering investigations or proceedings. Sun Life shall notify you (via My Sun Life PH or otherwise) that a freeze order has been issued, and the fact that it is complying with the freeze order. Sun Life shall also furnish you a copy of the freeze order.

 

Sun Life may also suspend your My Sun Life PH account without need of prior notification to you and with no obligation to disclose the reasons, upon Sun Life’s determination or finding after investigation that:

  1. You have unreasonably failed or refused, despite due notice, to provide the necessary documents or information required from you by Sun Life to comply with Applicable Laws, issuances or orders from Competent Authority, or Sun Life internal policies;
  2. You are involved in or suspected to be involved in fraudulent, criminal or unlawful activity activities, and/or your account is being used, attempted or suspected of being used as a tool for any fraudulent, criminal or unlawful activities; or
  3. You have or appear to have committed a breach of these Terms and Conditions, or have or appear to have committed misrepresentation or provided false information or declaration to Sun Life in relation to the Transactions that you executed.

 

Upon prior notice to you, Sun Life may close your My Sun Life PH account for legitimate business reasons or if the continued existence of your account will, in Sun Life’s sole and reasonable determination, prejudice the interest of Sun Life in any way.

Sun Life may receive a court order garnishing any of or all your accounts. A garnishment order is an order from a court directing the recipient to seize assets, usually to settle an outstanding obligation. Unless the order states otherwise, Sun Life is under no obligation to notify you of such garnishment, and the fact that it is complying with the garnishment. You hold Sun Life, its officers and employees, free and harmless from any and all loss, claims or damages resulting therefrom.

Sun Life may suspend or freeze your My Sun Life PH account and/or access to any of or all your Products and Services in compliance with a freeze order issued by a Competent Authority, usually in connection with anti-money laundering investigations or proceedings. Sun Life shall notify you (via My Sun Life PH or otherwise) that a freeze order has been issued, and the fact that it is complying with the freeze order. Sun Life shall also furnish you a copy of the freeze order.

 

Sun Life may also suspend your My Sun Life PH account without need of prior notification to you and with no obligation to disclose the reasons, upon Sun Life’s determination or finding after investigation that:

  1. You have unreasonably failed or refused, despite due notice, to provide the necessary documents or information required from you by Sun Life to comply with Applicable Laws, issuances or orders from Competent Authority, or Sun Life internal policies;
  2. You are involved in or suspected to be involved in fraudulent, criminal or unlawful activity activities, and/or your account is being used, attempted or suspected of being used as a tool for any fraudulent, criminal or unlawful activities; or
  3. You have or appear to have committed a breach of these Terms and Conditions, or have or appear to have committed misrepresentation or provided false information or declaration to Sun Life in relation to the Transactions that you executed.

 

Upon prior notice to you, Sun Life may close your My Sun Life PH account for legitimate business reasons or if the continued existence of your account will, in Sun Life’s sole and reasonable determination, prejudice the interest of Sun Life in any way.

Your Data Rights and Contact Centers

Creation of a My Sun Life PH account and access thereto requires a Sun Life Client to provide personal data to Sun Life. The specific data categories and documents required are displayed during the registration process. In the same manner, additional personal data and documents may be required when you update your account information, enroll a beneficiary, or submit a Transaction via My Sun Life PH.

 

You consent to the processing of your personal data for purposes of:

  1. My Sun Life PH account registration and maintenance
  2. Processing a Transaction
  3. Performance of Sun Life’s obligations under these Terms and Conditions, as well as the relevant insurance policy, investment, or similar contracts
  4. Verifying and validating within Sun Life or from third party sources, your personal data, information, and documents submitted to Sun Life
  5. Preventing unlawful, illegal, or fraudulent Transactions or activities

 

You also authorize the transfer, disclosure and communication of any information related to your My Sun Life PH account, or any information thereon, to any of our offices, branches, subsidiaries, affiliates, agents and representatives, and third parties such as outsourcing providers, auditors, industry organizations and government agencies, in relation to any matter involving anti-money laundering monitoring, review and reporting, statistical and risk analysis purposes, valid court orders, legal requirements, valid subpoena issued by pertinent authority, or such other cause which necessitates a transfer or disclosure of said information. You agree to hold us free and harmless from any liability that may arise from any transfer, disclosure or storage of said information.

 

Your consent also includes the following processing and disclosures:

  1. Uploading your medical information to Philippine Life Insurance Association’s Medical Information Database, which will be accessible to other life insurance companies subject to access limitations and guidelines issued by the Insurance Commission;
  2. Disclosure to any Competent Authority or stock exchange (if applicable);
  3. Disclosure to any potential assignee or transferee of the Sun Life’s rights and/or obligations under the relevant contracts or agreements, whether or not in the context of a merger and acquisition; and
  4. Disclosure to such other persons or entities that Sun Life may deem necessary or appropriate to facilitate the above-stated purposes, or as and when required by the circumstances.

You further consent to the disclosure of your personal data to Sun Life’s affiliates and third-party providers in furtherance of or consistent with the purposes stated above.

 

Your personal data shall be retained throughout the existence of your account(s) and/or until expiration of the retention limit set by laws and regulations from account closure and the period set for destruction or disposal of records. You certify that you have read, understood, and agreed with the declarations and authorizations above, including Sun Life’s privacy policy found in https://www.sunlife.com.ph/en/about-us/corporate-governance/online-privacy-statement/.

As a Sun Life Client, you have certain rights under the Data Privacy Act of 2012. These rights include the right to be informed, to access your personal data, to dispute the accuracy or error in your personal data, to data portability, to be indemnified for damages sustained due to inaccurate, false, unlawfully obtained, or unauthorized use of your personal data, and to file a complaint with our Data Protection Officer and/or the National Privacy Commission.

To know more about how Sun Life processes and handles your personal data, please visit https://www.sunlife.com.ph/en/about-us/corporate-governance/online-privacy-statement/.

You may also reach out to our Data Protection Officer at (632) 8849-9558 or send us an email to privacyconcern@sunlife.com

 All trademarks, service marks, and trade names used in My Sun Life PH or in connection with the Products and Services mentioned therein are registered trademarks of the applicable Sun Life company and are protected by applicable domestic and foreign trademark laws. All rights reserved. 

The contents of My Sun Life PH are protected by copyright. Users of My Sun Life PH shall be entitled to copy information for their own non-commercial personal use but may not republish or reproduce any part without the prior written permission of the applicable Sun Life company. Republishing and reproducing includes any uploading, downloading or accessing the information on this site onto the internet or any other local or international computer system. An acknowledgement of the source must be included whenever our materials are copied or published. If you require further information on the uses that you may make of the information on this site, or if you wish to obtain a license to reproduce or republish any material on this site, please send such requests by e-mail, or contact: Creative and Digital Marketing 9F Sun Life Centre, 5th Avenue corner Rizal Drive, Bonifacio Global City, 1634 Taguig City, Philippines. 

You agree that any intellectual property pertaining to My Sun Life PH, such as but not limited to, applications, programs, web pages, solutions, marketing materials, audio and/or visual presentations and all other matters that may be assigned, registered, transferred, owned or encumbered, including any intellectual property resulting from or related to your use of our My Sun Life PH, shall be our sole and exclusive property (collectively, the “Sun Life Intellectual Property”). You undertake not to copy, modify, adapt, alter, translate, merge, reverse engineer, decompile, disassemble or otherwise attempt to derive the source code for the Sun Life Intellectual Property. 

Any infringement of our rights will result in appropriate legal action. The Sun Life group of companies disclaim any and all liability which may result from any unauthorized reproduction or use of the information on My Sun Life PH.   

You agree that your access to My Sun Life PH, whether through the website or mobile application, requires internet connection, which poses security risks to your own device and network. We assume no liability for any damages to your device, equipment, or any other property resulting from your access to, use of, or browsing our website or use of our mobile application.

 

To the fullest extent allowed by law, Sun Life excludes all responsibility and liability arising from or in connection with your use of My Sun Life PH, including, without limitation:

  1. unavailability of My Sun Life PH due to downtime, scheduled or unscheduled system maintenance, or any other reasons other than those arising from Sun Life’s fraud or gross negligence;
  2. any and all actual or anticipated loss of profits, savings, revenue, goodwill, data, or business opportunity, and any and all special, indirect, consequential, punitive or exemplary losses; and
  3. any other losses, whether or not Sun Life or its authorized representative has been advised of the possibility of such losses.

To the fullest extent allowed by law, Sun Life exclude from these Terms and Conditions all representations, warranties, guarantees, or liabilities on its part that may be implied by statute, general law or custom, except any guarantee or right explicitly conferred under any legislation, the exclusion of which would violate legislation.

For any questions, disputes, complaints, or concerns, you may reach out to Client Care at https://www.sunlife.com.ph/en/about-us/contact-us/ and (632) 8849-9888.

These Terms and Conditions shall be governed by the laws of the Republic of the Philippines.

You agree that in case of litigation, the venue of action shall be the proper courts of Makati City to the exclusion of other courts.

Subject to Applicable Laws, we may update, revise, change, or modify these Terms and Conditions from time to time. By continuing to use My Sun Life PH, you agree to such updates, revisions, changes, or modifications.

Your Transactions

Transactions are deemed initiated and submitted by you. You shall keep your account information confidential, including your Access Credentials. A Transaction initiated using your Access Credentials are your instructions to Sun Life to process the Transaction. You acknowledge that any instructions, notices or requests delivered using your Access Credentials can be relied upon by us to be your instructions, notices or requests. We shall not be liable for acting upon such instructions, notices or requests nor shall we be obliged to investigate the authenticity or authority of persons effecting or delivering your instructions, notices or requests or verify the accuracy and completeness of such instructions, notices or requests. Such instructions shall be deemed correct, complete, irrevocable and binding upon our receipt. You further accept full responsibility for all pertinent e-services transactions using My Sun Life PH and in ensuring the accuracy and completeness of your instructions, notices or requests.

You agree that electronic or digital signatures or sign-in-wraps utilized in My Sun Life PH shall have the same force and effect as a manual signature and that you authorize us to act upon any such instructions, notices or requests, pertinent to the services to which you have either enrolled or utilized, sent using your Access Credentials.

As a licensed company in the Philippines, each Sun Life entity must ensure that its business is conducted within Philippine territory. As a general rule, you attest that you are currently in the Philippines when performing a Transaction. Please note that making a false declaration may result in criminal prosecution under Applicable Laws.

You shall be solely responsible for any transaction between you and your external providers such as but not limited to, your internet service provider, your bank, your credit card company, and all other third party institutions, financial or otherwise, which you use in relation to My Sun Life PH. You agree not to implead and hold us free and harmless from any dispute or issue between you and said external provider.

 

For all Transactions, you declare and agree to the following:

  1. All the information and documents that you provide are true, correct, complete, valid, and subsisting.
  2. You declare that you are currently in the Philippines. If you are not in the Philippines, you undertake to reach out to Sun Life for guidance on whether the specific Transaction may be performed while outside the Philippines.
  3. You undertake to inform us within thirty (30) calendar days of any change in your circumstances, including but not limited to citizenship(s)/nationality(-ies), and submit the applicable documents accordingly. Those clients with U.S. address, contact information or certain indicia of U.S. Person will be required to submit a government-issued identification document and complete a Form W-9, W-8BEN or W-8BEN-E, which will be sent to you via mail/email.
  4. You acknowledge Sun Life’s statutory responsibility to provide your information, including but not limited to local or foreign tax status, to the appropriate authority. We may disclose such information to competent authority or its delegate involved in processing, collecting, transferring or disclosing the relevant information. Where a separate waiver is required to provide the required information to competent authority or its delegate, you undertake to provide a waiver in a format acceptable to us.
  5. You acknowledge that Sun Life, its employees, duly authorized representatives, related companies, third party service providers, and vendors shall process and share your and the insured’s information, with any person or organization to (i) service your account, (ii) process Transactions and enforce the relevant contracts, and (iii) pursue Sun Life’s legitimate and lawful rights and interests and other purposes allowed under laws and regulations, including, but not limited to, those relating to data privacy and anti-money laundering.
  6. You agree to indemnify and hold free and harmless Sun Life, its affiliates, directors, employees, legal representatives, and assignees against loss and damage from any claims and/or actions made by any third person including the parties to the relevant policy or investment account or their representatives in relation to the processing of your Transaction.

 

These Terms and Conditions incorporate by reference the terms and conditions contained in the relevant Transaction form prescribed by Sun Life.

As a Sun Life Client, you have the duty to ensure that your account information is always up to date. For security reasons, we rely on your latest account information as it appears on our records. You may update your account information via My Sun Life PH. 

 

i. Change of Name

Certain life events may require you (and/or your insured) to update your legal name. If your (and/or your insured’s) name on our records no longer matches your (and/or your insured’s) current legal name, you undertake to promptly notify us of the change in name, accomplish and submit such forms that may be required by Sun Life, and provide the documentation relevant to the change of name.

 

ii. Change Mailing Address, Email Address, and Contact Details

It is imperative that you keep your address and contact details up to date. We use your email address and registered mobile number to send important notices and communications regarding your accounts with us. If you requested for printed copies of your contracts, statements, and other documents, the same will be mailed to your registered mailing address. It is important that you keep your mailing address updated to ensure receipt of your documents.

You can update your address and contact details by filing an address and contact information change request. You undertake to accomplish and submit such forms that may be required by Sun Life and provide the documentation relevant to the change request.

 

iii. Insurance Beneficiaries

For insurance policies, My Sun Life PH allows you to manage and designate your beneficiaries. You can also designate the relative share of each beneficiary in the proceeds of the policy.

You can add, remove, or replace anyone as your insurance beneficiary, unless such person is otherwise disqualified to be designated as a beneficiary under Applicable Laws. For certain relationships, you undertake to furnish documents and information required by Sun Life for the enrollment of the beneficiary.

You have to right to change your beneficiaries at any time, unless the person to be removed had been previously designated as an irrevocable beneficiary.

Certain Transactions affecting the interest of the irrevocable beneficiary in the policy will also require the consent of the latter to those Transactions. You will be notified by Sun Life via My Sun Life PH or otherwise if a Transaction requires the consent of an irrevocable beneficiary.

A minor designated as a beneficiary will be subject to certain laws protecting the minor’s interest. This may include representation by a guardian and filing of a bond, as applicable.

If your creditor is designated as a beneficiary, the death benefit will be paid to such creditor or its successors-in-interest. Benefits in excess of what is due to the creditor will be paid to your other designated beneficiaries.

You may update the percentage share of each beneficiary. In case one of the beneficiaries dies while the insured is still alive, the share of such beneficiary will be distributed equally among the surviving beneficiaries.

For your convenience, you may enroll your bank account with Sun Life so that the proceeds of certain Transactions will be credited directly to your designated bank account.

Please ensure that you provide the correct bank account details. Sun Life will not be liable if remittance is made to an erroneous bank account provided by you.

You agree to provide proof of bank account, which may include a bank statement, certificate of bank deposit, first page of a bank passbook, copy of your check, ATM card, etc.

 

By enrolling a bank account, you declare and agree that:

  1. The details you provide are correct and that you declare under the penalty of fraud that you are the owner of the bank account.
  2. You will shoulder any bank fees and charges related to the deposit to your bank account.
  3. The deposit of the amount to your designated bank account fully discharges Sun Life from any claims or liabilities related to such deposit.
  4. You agree to indemnify and hold Sun Life free and harmless from and against any and all claims, losses, including opportunity costs, damages, or expenses as a result of the enrollment of the bank account, including any misrepresentation as to the owner of a bank account, and/or failure of your bank or its intermediary to honor the transaction

My Sun Life provides a convenient way for you (and your beneficiaries) to file your insurance claims with Sun Life. By submitting a claim, you declare and agree that:

  1. To the best of your knowledge and belief, the information that you provide are complete and true.
  2. You authorize any physician, hospital, clinic, insurance company or other organization, institution or person, that has any record of you and/or the life insured, or your and/or the life insured’s health, to give to Sun Life any and all information about you and/or the life insured with reference to your and/or the life insured’s health and medical history and any hospitalization, advice, diagnosis, treatment, disease or ailment.
  3. The claims application shall not be considered complete until the submission of all the required documents.

For variable life insurance accounts, Sun Life allows full or partial fund switching and/or withdrawal subject to existing administrative rules set by Sun Life. The amount to be switched must not be less than the minimum amount determined by Sun Life.

 

By submitting the request, you declare and agree that:

  1. The request applied for is based on your own judgment and you have not relied on any advice provided by your advisor.
  2. To the best of your knowledge, all information you have provided in connection with the Transaction are complete and true.
  3. The change/s applied for shall only take effect when (i) any required payment is paid in full and (ii) the request for change(s) applied for is approved, during the lifetime of the life insured.
  4. A copy of the request, and any other relevant document(s), will form part of the policy.
  5. Any Suicide Provision and any Incontestability Provision in the General Provisions of the policy will apply to the additional benefits and/or Excess Premiums added to the policy as a result of this request, effective from the date of the request.
  6. Sun Life may correct errors or omissions made in the completion of relevant Transaction form.

Certain Transactions may involve forward pricing. Forward pricing is the way in which investments like mutual funds are valued for investors who bought or redeemed (sold) their shares/units. The applicable Net Asset Value Per Share (NAVPS)/Net Asset Value Per Unit (NAVPU) used to price these shares/units is only determined at the end of every business day when all orders are taken, and the markets have closed.

This means that you do not know the purchase or redemption price until the next business day. This is because the price of a mutual fund will remain static throughout market hours. But when markets close, the closing market prices of each of its underlying assets will determine the mutual fund’s end-of-day price.

My Sun Life PH provides a safe and convenient way for you to pay for the Products and Services. By using our payment facilities, you agree and acknowledge that:

1. Payment Reversal

a. Any request for payment reversal must be submitted to us before submitting to your own appropriate third-party provider.

b. We may coordinate with your agent/advisor, if any, the terms of the requested reversal, if we deem it necessary.

c. We shall endeavor to notify your third-party provider of your request for reversal only upon our determination that such request is valid. We shall have sole discretion in the determination and approval of your request.

d. You shall be solely responsible for following up the actions taken by your third-party provider.

e. A pending request for reversal shall not suspend the payment of any obligation or extend any period to settle an obligation, which you may have on your policy or account.

2. Source of Funds

a. The credit card you will use in your insurance application is issued under your name.

b. If a third party provides funds for your insurance application, by credit card or other means, you confirm that you have previously disclosed this information in the Third Party/Beneficial Owner Determination portion in your insurance application or relevant document for other Products and Services.

3. Suspicious Activities

a. If we believe that you may be involved in any potentially fraudulent or suspicious activity, including but not limited to bribery and corruption, money-laundering, and terrorist-financing activities, we may take any action to protect Sun Life and its agents, including but not limited to, cancelling your application or rescinding any insurance policy or investment contract issued as a result thereof.

4. Disclosure of Payment Information

a. Your payment information will be provided to, and will be processed by, a third-party payment service provider engaged by Sun Life. Sun Life reasonably ensures that such third party is contractually bound to protect your personal data.

Sun Life Asset Management Company, Inc. (SLAMCI) is the largest, non-bank affiliated asset management company in the Philippines in terms of Assets Under Management (AUM) and a member of the Sun Life group of companies, a leading international financial services organization providing a diverse range of protection and wealth products and services to individuals and corporate clients.

SLAMCI is the asset management arm of Sun Life in the Philippines, and is regulated and supervised by the Securities and Exchange Commission.

The following terms and conditions are hereby incorporated by reference, and shall additionally apply to you and your Transactions involving Sun Life mutual funds and other SLAMCI products and services:

1. SLAMCI Terms and Conditions https://www.sunlife.com.ph/en/about-us/corporate-governance/slamci-online-terms/

2. The terms and conditions contained in each relevant Transaction form, which can be downloaded at https://www.sunlife.com.ph/en/investments/tools-and-services/downloadable-forms/