Some advisors might get angry with me writing this article on How to Surrender Your Sun Life VUL Policy/ies. But believe me, I really don’ t want to write about this. However, there are circumstances that one really has no choice but to surrender his or her Sun Life VUL.

But before we go straight to the procedures on how to surrender your VUL policies, let me reiterate some of the important reasons why you shouldn’t?

Why You Shouldn’t Surrender Your VUL Policy?

Before you apply to surrender your policy, we encourage you to consider the following:

  1. Do not surrender your policy because of increasing financial responsibilities. The greater your responsibilities are, the more protection
    you will need. Thus, you and your loved ones need the protection your policy provides.
  2. This is a long term investment plan. A pre-mature surrender may jeopardize your investment potential. More likely, the fund value of your plan may not equate to what you have deposited especially if you’re plan is less than the supposedly paying period.
  3. You may access your money by withdrawing cash from your fund. In case you need funds, you can simply withdraw partially. That way, your policy is still in-forced.
  4. Should you surrender your policy now, the probability is that you will want to replace it some time in the future. Assessment of your application will be based on your attained age and then health condition and thus result in higher premium.

On top of that, here’s another letter addressed to you that you might want to read carefully

Letter Addressed Especially for you – Policyholder

You and I have similar purposes in this world.

It is your job to provide food, clothing, shelter, schooling, medicine, and
other things for your loved ones. You do this while I lie in your safe
deposit box.

I have faith and trust in you. Out of your earnings will come the cost
of my upkeep. At times, I may appear insignificant to you – but someday
(and who knows when) you and I will change places.

When you are laid to rest, I will come alive and do your job. I may
provide food, clothing, shelter, schooling, medicine, and other things your
family will continue to need – just as you are doing now. When your
work and labor are done, mine will begin. Through me, your
hands can carry on.

Whenever you feel the price you’re paying for my upkeep is burdensome,
remember that I can do more for you and your family than you will ever
do for me.

If you do your part, I will do mine.

Sincerely yours,

Your life insurance policy

Given all of these and you still insist that you want to surrender your VUL Policy, here are the requirements and procedures.

How to Surrender Your VUL Policy

  1. Policy Contract
  2. VUL Request for Policy Surrender Form
  3. Signature of Policy Owner
  4. Signature of Irrevocable Beneficiary/ ies (if any)
  5. Valid ID of Policy Owner
  6. Valid IDs of Irrevocable Beneficiary/ ies (if any)
  1. Request for a “VUL Request for Policy Surrender Form” from your Sun Life Advisor. If advisor is no longer available, you may contact customer service at (632) 849-9888 or email
  2. Fill out the necessary details (Page 1) like Policy Owner, Policy Number, Citizenship, Countries of Legal Residence, ID Presented, Permanent Address, Present Address, Home Phone, Work Phone and Email Address.
  3. Affix your signature on Page 2 as well as your Irrevocable Beneficiaries (if any)
  4. If you’ve changed your signature since the time you got the policy, you need to fill out page 3 as well (New Signature Specimen)
  5. If there is no Sun Life Advisor or Staff to witness your signature, you need to have it Notarized as well.

Below is the screenshot of the VUL Surrender Form

how to surrender vul policy

After you filled out the required information and affix your signatures, you may now submit this form along with other requirements to any Sun Life store or office nationwide.

Should you have any questions, please feel free to comment or send me a private message in messenger or email.


My Financial Advisor PH

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.


  • July 2020 at 1:53 pm

    Where can I download the form Sir? Can I submit it online?

    • December 2020 at 10:18 pm

      Hi Luisa, yes it can be submitted online. Have you connected with your Sun Life advisor about this?

  • July 2020 at 1:22 pm

    Hello.. i received a text from Sunlife, “Sun Life Electronic Bill Advisory: SunLink: Please check your SunLink personal page for Policy no. XXXXXX2308 FUND WITHDRAWAL”, after I surrender my policy.. what’s the next? How can I withdraw it?

    • December 2020 at 10:17 pm

      Hi Ingred, sorry for the late reply. By now, most likely you’ve already received your fund withdrawal. Is that correct?

  • July 2020 at 8:11 pm

    I pay 75k annually for my policy and the total now is150k. If I surrender my policy how much will I get?

    • December 2020 at 10:15 pm

      Hi Beverly, as much as possible, don’t surrender. If you need funds, baka pwede partial withdrawal lang muna.

  • June 2020 at 3:20 pm

    My brother in law wants to surrender his VUL where to apply or office near pasay he can go. Because his advisor cannot be reach.

    • December 2020 at 10:14 pm

      Hi Bryan, yes that’s possible. Pero sayang if isurrender nya. Baka may iba pang paraan.

  • June 2020 at 11:14 am

    Hello. What if i decide not to continue my vul insurance a i havent paid for a year now. Can i get the current fund value in full?


    • August 2020 at 11:49 am

      Hi Yari, yes you may get the current fund value. Altho pag isipan mo mabuti. Sayang naman kung isu surrender mo. These are the times that you wouldn’t wanna get caught without insurance. If your worry is because you havven’t paid for a year, that’s the beauty of VUL, it can survive without paying as long as it has enough fund value to shoulder the charges.

      If you’re in need of cash, instead of full surrender, you may withdraw partially.

    • December 2020 at 10:02 pm

      Hi Yari, the fund value is the amount you will get in case you plan to surrender your insurance. So even if you haven’t paid for a long time, as long as your policy has a fund value, you may withdraw partial or full amount of the fund value. Full withdrawal will also mean termination of your insurance policy.


Leave a Reply

You have to agree to the comment policy.

This site uses Akismet to reduce spam. Learn how your comment data is processed.