How to pay for your Sun Life Insurance Premium

There it is. It’s now time to pay your Life Insurance premium. If you got VUL (Variable Unit-Linked Life Insurance) or non-traditional life insurance, you do not have to worry if you are late in your payment. Your policy won’t lapse as long as there remains fund value in your account. Sun Life generally offers 31 days grace period. If you have traditional policies such as Sun Fit and Well, Sun Life Assure, etc., you have to make sure that you are prompt in your payment. Ask your financial advisor what your policy is if you are not sure what you got.

There are various ways on how to pay your premium. We got banks and different payment or service centers. For banks, you have the option to pay OTC (over-the-counter) or by online banking.

You can pay online or OTC through these banks or bank networks:

  1. BPI (Bank of the Philippine Islands)
  2. BDO (Banco de Oro)
  3. Security Bank
  4. PNB (Philippine National Bank)
  5. RCBC
  6. Megalink/Bancnet

Aside from these banks, you can also pay through these channels:

  1. Bayad Center
  2. SM Bills Payment
  3. G-Cash
  4. Smart Money

Personally, I prefer to pay via online. Not only it is hassle-free but also keeps everything monitored and on-track. You have visibility of your payments and it is open 24 hours! So if you have savings account, better go online banking. But if you are the type of person who opts to pay through OTC or different channels, you may also do so. 🙂

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