Looking for information about payments on your Sun Life policies like Sun Maxilink Prime, Sun Flexilink, Sun Maxilink Bright and other Sun Life products? Let me share you some of the frequently asked questions I have received over the years.

I’ve collected and compiled them here – some of the most asked questions when it comes to Sun Life VUL and traditional (term, etc.) payments. Here are some of them:

Updated: July 20, 2019

How to Pay Sun Life Insurance Policies Complete Guide

Regarding Sun Life Mode of Payment

My current mode of payment is quarterly, can I change to Annual? or vise versa?

Answer – Yes, you may change mode of payment anytime as long as it’s advanced. That way, you won’t be lagging in your payment schedule. However, say your initial mode is quarterly and you paid in Annual, you will still receive the quarterly billing since it’s computer generated. In case you don’t want to receive the quarterly billing, we need to change that in paper, there’s a form we need to submit. Or you may simply ignore the quarterly billing.

Can I pay on a Monthly basis? I started annual but I want to change to monthly. What to do?

Answer – You can pay monthly as long as it is advanced. Ideally, to do monthly payments, initial payment is either quarterly, semi annual or annual. So you pay the first 3 months, then you immediately pay the monthly the next month. That way, when the next billing comes, you already completed the 3 months in advanced. Same goes with Semi Annual and annual. It has to be advanced.

Can I pay in Advance? I want my Sun Maxilink Prime policy to be paid in just 5 years.

Answer – Yes, that’s possible. For example, your plan is P30k a year for 10 years. Instead of paying 30k a year, you may do P60k a year for 5 years. As long as you fulfill the total payment of 300k in 10 years or less, that’s ok.

Can I pay a little more than my billing? My quarterly billing is P7,156.75, I always get irritated with the ‘butal’.

Answer – Yes, you can pay any amount to be exact. In the example, instead of P7,156.75, you can actually pay P7,200 or P7,500. Any excess payments that you make will be added to the fund value, so it will not go to waste.

Can I pay my Sun Maxilink Prime using credit card? Sayang kasi ang points.

AnswerSad to say, credit card payments are not allowed for VUL type plans. Recent developments now allow payment of Credit Cards. For New applications, credit card payments are accepted up to Php100,000. For existing plans, Credit Card payments are possible only thru Auto Credit Charging. Traditional plans like Sun Life Assure / Sun Safer Life / Sun Smarter Life, credit card payments are allowed and has no limit even on initial payment.

I haven’t paid for like 12months to 1 year. Can I still make deposits to my policy? Can I still make up for skipped payments?

Answer – The good thing with VUL plans is that, it doesn’t automatically lapse or terminate. If you haven’t received any notification that your policy lapsed, most likely, it is not. If it’s not yet lapsed, yes, you may continue your deposits. You can also make up for skipped payments. If unsure on how much you should pay, let me know so that we can take a look at your policy.

Sun Life Payments thru Banks – Over the Counter

You may also pay your Sun Life policies thru Sun Life accredited banks.

What are the banks accredited with Sun Life and how do I pay my premium over the counter?

Here are the list of accredited banks with Sun Life Financials

  • Bank of the Philippine Islands (BPI)
  • Banco De Oro (BDO)
  • Rizal Commercial & Banking Corporation (RCBC)
  • Security Bank & Trust Company (SBTC)
  • UnionBank of the Philippines (Unionbank)

To pay over the counter, simply follow these steps

  1. Go to any of the accredited banks nearest your place.
  2. Using the Bills Payment Slip, write Sun Life of Canada (Phils) Inc. as the Merchant / Company Name
  3. On the Subscriber’s Account No., write your Policy Number.
  4. On the Subscriber’s Name, write the Name of the Policyholder / Owner.

Online Banking – Sun Life Payment via BPIexpressonline / BDO Online

How do I pay using

Enroll First

  • Login to your account
  • On the Menu, go to Payments and Reloading -> Bills Payment -> Enroll All Other Bills
    – Company Name is Sun Life of Canada (SUNLIF)
    – Reference Number is your Policy Number
    – Click Submit

Make Payments

  • Go to Payments and Reloading -> Bills Payment -> Pay Bills Today
  • Pay (choose from Drop Down – SLF…)
  • Amount
  • Then submit

Other Sun Life Payment Options

You may also pay your Sun Life policies thru the following facilities

  • Sun Life Stores
  • Thru your Sun Life Financial Advisors
  • ATM Facilities (Bancnet)
  • SM Bills Payment Center
  • Bayad Center
  • Smart Money


Garry De Castro

Garry De Castro is a personal finance advocate, Financial Advisor, Certified Investment Solicitor (Mutual Fund Representative), investor, stock market trader, blogger, and IT practitioner. He started sharing and writing financial articles 2008 just to share his financial learnings to friends, relatives and anyone who wishes to be financially independent.


  • February 2021 at 2:28 pm

    Hello Sir Garry! Glad that i found your website! Very informative!
    I would just like to ask po, since it’s pandemic, i wasn’t able to pay my VUL for 1 yr. My penalty fee po ba for late payments? And another question po, gusto ko po sna kc dati na annual po ang payment ko kaso quarterly po ang current payment ko, as per my financial advisor ko po kc, no problem if i will pay ng isang bagsakan kahit na quarterly ang payment ko. Ang worry ko po is prang late ung payment ko lagi kc for the last 2 yrs, end of the year po ako lagi nagbabayad. May effect po ba un sa vul ko po? Thank you in advance po.

    • February 2021 at 8:25 am

      Hi Grace, yes that’s possible. May penalty ba? The good thing with VUL, walang penalty. May effect ba sa VUL if late nagbabayad? You’re just missing the opportunity for the fund’s earning potential. The earlier invested, the better.

  • December 2020 at 4:18 pm

    Hi Garry. What’s why am I getting 1,400/mo in admin charges and 700/qtr in transfer charges? My monthly premium is 5000. That’s 32% of my premium going to charges. Currently on my 3rd year paying.

    • January 2021 at 7:38 am

      Hi Seph, with very limited info, I can’t make assumptions on the kind of policy you have and attached riders if any. Best to ask for a policy review from your Sun Life Advisor. He/She can best explain the details to you.

  • December 2020 at 7:34 am

    Hi po, just want to clarify po. Does sunlife still charge admin and transfer fee even if after we have completed paying the whole 10 years?

    • December 2020 at 10:44 pm

      Hi Sarah, no more transfer fee. Just the admin charge since it’s being used to pay for the insurance part.

  • August 2020 at 5:42 pm

    I do not have copy of the “contract” and my SUNLIFE Advisor is no longer with SUNLIFE. My questions are: how long should I pay (I pay 70k/year and 50k/year for my daughter), is this for 10 years or for a lifetime? How do I get a new Advisor? Been thinking of voluntary withdrawal, why should I stay?

    • December 2020 at 10:24 pm

      Hi Valeree, if your Sun Life Advisor is no longer connected with Sun Life, you may request someone you know to handle the servicing of your policy. Sun Maxilink Prime is 10 years to pay. After that, just let it stay there and it will start earning over time. Send me a message, I might be able to help re: getting a new Sun Life Advisor.

  • May 2020 at 10:16 am

    Hi Sir, after 10 yrs of paying do I need to still pay? I have sunlife maxilink prime, 30k yearly plan, what are the possible charges na continues padin babayaran until policy maturity? Thanks

    • May 2020 at 2:51 am

      Hi Ohwie, what you got (Sun Maxilink Prime) is a kind of limited pay VUL. Meaning, it was designed na 10 years ka lang magbabayad then stop ka na and your policy can self sustain on a normal market conditions up to age 88 (depending on riders).

      What are the possible charges until maturity? If you have CIB and HIB riders, expect to continue to receive billing notices for these. Also, your policy is continuously charged with the insurance charges etc but these are taken cared of by the fund value already.


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