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.


  • January 2021 at 9:11 am

    Hi Garry,

    Want to ask about policy ng Sunlife for people na mag change ng citizenship. Me and my wife both have a sun maxilink prime policy and will reach its maturity in the next 2 years, we already applied for Australian citizenship and probably be approved in 2 years time as well, meron bang pros and cons regarding that? Thanks

    • January 2021 at 8:29 am

      Hi Marlon, wala naman since Insurance are always underwritten during the inception. As long as the app form questions were answered truthfully and no concealments/misrepresentation were done.

  • January 2021 at 2:55 pm


    I want to terminate my SUNLIFE MAXILINK PRIME or the very least, downgrade it to a cheaper policy or downgrade the premium payments. Told this to my advisor, he told me that downgrading is impossible. So, next option is termination. COVID just hid hard enough for this sustenance.

    I just want to ask if it is really impossible to downgrade my policy or at least downgrade my payments. I have a relatively big regularly-billed excess premium pa naman. Appreciate your response!

    • January 2021 at 7:42 am

      Hi John, usual scenario, ‘downgrading is impossible’ if your current plan is the minimum so there’s nothing to downgrade to. You might want to go directly to Sun Life customer service if you like to get a more detailed answer – – we have a chatbot there where you can Talk to Client Care.

  • January 2021 at 4:09 pm

    sir what if po isurreder ko yung policy ko, buo po ba sya makeclaim lahat ng nahulog ko since first month ??

    • January 2021 at 7:39 am

      Hi Archie, one thing is for sure – you won’t get the whole amount you deposited. Depending on the type of policy you have, usually, fund starts earning only after you finish paying the plan. Best to check with your Sun Life Advisor for details.

  • December 2020 at 10:06 pm

    hi sir. nsa abroad po ako at balak ko na i close vul ko ano po b dapat kong gawin? last year september 2019 ko po sya inopen. my ma rrefund pa po dn ba

    • January 2021 at 4:10 pm

      Hi Hagler, right now possible to surrender a policy via Remote Servicing. Best to contact your Advisor on the details. Re: may marefund ka ba? You may check your policy, if you still have fund value, that’s the only amount you can get.

  • December 2020 at 7:12 pm

    How to partially withdraw funds from VUL? The only option on the site when I login is file a claim.


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