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:
- All the information and documents that you provide are true, correct, complete, valid, and subsisting.
- 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.
- 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.
- 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.
- 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.
- 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.
a. Account Information Update
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.
b. Enrolling a Bank Account
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:
- The details you provide are correct and that you declare under the penalty of fraud that you are the owner of the bank account.
- You will shoulder any bank fees and charges related to the deposit to your bank account.
- The deposit of the amount to your designated bank account fully discharges Sun Life from any claims or liabilities related to such deposit.
- 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
c. Claims
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:
- To the best of your knowledge and belief, the information that you provide are complete and true.
- 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.
- The claims application shall not be considered complete until the submission of all the required documents.
d. Variable Life Insurance Transactions
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:
- The request applied for is based on your own judgment and you have not relied on any advice provided by your advisor.
- To the best of your knowledge, all information you have provided in connection with the Transaction are complete and true.
- 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.
- A copy of the request, and any other relevant document(s), will form part of the policy.
- 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.
- Sun Life may correct errors or omissions made in the completion of relevant Transaction form.
e. Forward Pricing
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.
f. Payments
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.
