If ever you see COCOLIFE agents in malls, avoid them like plague. I purchase a personal accident plan today thinking that it is a term plan to be paid for one year only but it turned out it’s payable in 10 years. I clearly asked the agent about this and I was told they will only deduct once from my credit card and it will be my decision if I want to renew it but when I got the time to check all the documents I signed, it turned out the plan is already designed to be auto-renewed yearly. The agent clearly lied to me so now I am filing for a policy cancellation. Good thing, I read articles from the internet about people getting reimbursement when they cancelled within 15 days after they got plans from COCOLIFE.
Here's the letter I created:
Notice of Cancellation
May 15, 2017
COCOLIFE-
Policy Service Department
COCOLIFE
Building
6807 Ayala
Avenue, Makati City
Subject: Cancellation
of GPA Policy
I would like to inform you of my intent to cancel my GPA Policy Number T-11-042 effective today May 15, 2017. Please send me a written confirmation within 30 days that the cancellation has been put into effect. I also request full refund of my initial payment to the policy plan amounting to Two Thousand Pesos (Php 2,000).
I wish to discontinue the policy as it does not meet my expectation. I am no longer interested with the benefits and coverage thereof.
Please consider this request as soon as possible.
Sincerely,
(Name)
Nabalik na ba pera mo? Hindi inaccept ung letter ko . Pinilit ko na merong 15 days na pwede ko refund hindi nila tinanggap pa rin. Pag dumerecho daw ako sa main office papabalikin din daw ako sa branch. This is so wrong! What will i do?
ReplyDeleteI think all cancellations are processed in the main branch. The 15 days cooling period is a rule from the insurance commission and they must comply with it. Yung mga tao sa branch talagang gagawin nila ang lahat para hindi ka magcancel kaya yung ginawa ko, dumiretso na ako sa main office nila sa Ayala. Na-address naman yung concern ko nung nagpunta ako dun. Pinagawa kong 1 year lang yung validity nung plan at once lang ako magbabayad ng P2,000, pinacancel ko yung auto debit payment arrangement. Ano pong nangyari sa inyo? Yung naswipe nila yung credit card niyo para daw icheck yung eligibility niyo?
DeleteTULFO MS.LIV LIM
DeleteIm no expert, but I believe you just made an excellent point. You certainly fully understand what youre speaking about, and I can truly get behind that. life assurance
ReplyDeletePa help po gusto ko po ipacancel ung policy ko same 2,000 pesos for personal accident insurance kaso wala pong nkalagay na policy number sa mga papers na binigay sa akin pano po yun??
ReplyDeleteHi Genny,
DeletePanong nangyari na walang policy#? Yung 2000 personal accident insurance din yung nakuha ko, nagpunta ako sa main office sa Makati para imake sure na hindi na sila magbabawas pa sa card ko. Hinayaan ko na lang yung 2K for 1 year coverage BUT I made sure one time lang yun. Dun kasi sa pinapamirmahan nila, automatic na continue yun after 1 year I think.
Hi can I ask po if you just email the letter or you bring it to the branch? And if ever I ask to refund the 2,000 peso mababalik ba agad nila?
ReplyDeleteI visited their main office in Makati. I think the refund depends on the mode of payment. My friend who used her credit card got the refund within a month. I'm not sure about cash payment tho. The thing is, pag nasa office ka na, they will do everything para hindi ka magcancel. Defensive agad yung kumausap sakin.
ReplyDeletePaano po kung im from the province? I was in the same situation noong saturday lang. they swiped 4k from my debit card. I was not also informed na they will auto-deduct from my card. What could I do since i cannot go to manila just to process this matter? Thank you.
ReplyDeleteIf you just want to cancel the auto-deduct, I suggest to call the main office first and inquire if they can process it via call request. If you wish to refund your money, I'm afraid kailangan mo talagang pumunta sa main office nila.
DeleteHi Ms. Hanna! The agents were too forceful to the point na napakuha nila ako ng GPA, yung worth 2K. I paid in cash. Kaso yun din yung worries ko, kung one time lang talaga yun or am i required to continue after that 1 year?
ReplyDeleteIf you paid in cash, that' okay since they can't force you to continue the plan and continue paying the premium. Maybe tatawagan ka lang ng customer service nila para pilitin kang icontinue pero you can always say no. In my case, I paid via credit card so I really needed to go to the main office to request them to cancel the auto-deduct.
DeleteI paid in cash yesterday coz I don't have credit card,so is it ok to cancel my policy and discontinue the plan?
DeleteHow was your experience po nagcancel po ba kayo?
DeleteHi Ms. Hanna. I have seen this "marketing strategy" before but stupidly I still fell for it. I think I'm not really after the refund but what I'm worried about is baka next year i-auto deduct nga nila yung 2K. Please advise. Thanks.
ReplyDeleteI went to their main office in Ayala to cancel the auto-deduct. Hindi na rin ako nagparefund since ayoko nang makipagtalo. Ang sabi naman sakin, tatawag yung customer service nila para iconfirm if I want to continue yung auto-deduct after one year. Kaso hindi ako masyadong naniwala na manghihingi sila ng confirmation, kaya I wrote a letter requesting them to discontinue the auto-deduct and cancel any future transaction with my credit card.
DeleteNagdirect na po kayo sa Ayala office nila, hindi doon sa branch of transaction?
DeleteHi po Ms Hannah..I want po to idiscontinue ung plan. Ang problem lang naka auto deduct ito sa debit card ko. Paano ba ung process ng pagstop na nung plan.salamat
ReplyDeleteNa deduct po ba? Na cancel po ung plan nyo?
ReplyDeleteHello po. I am planning to cancel my policy but its been three months already. Is it still possible to cancell po?
ReplyDeletePahelp naman po. tanong ko lang kung pwede ko pa ba kayang marefund yung pera ko kahit nung 2016 pa ako nagregister with cocolife FSP & GPA at gusto ko na po kasing e cancel ung policy.salamat po
ReplyDeleteSame case here! I was done doing my groceries and then bigla nalang nila ako kinausap tapos pag nagNO ka parang kokonsensyahin ka pa nila so sumama ako paakyat ng 5th floor sa SM Manila. I was forced to pay 2k cash last January 2018 pa yun. Up to now iniisip ko pa din sya and I want to cancel it para gumaan na yung loob ko since hindi forced lng yon at di pako ready foe those things �� macancel ko pa kaya? Kahit wala na refund okay lng basta macancel
ReplyDeletehello, na cancel niyo na pi ba yung inyo? iniisip ko din po kase mag pa cancel ng akin
DeleteHello pwede ko po bang matanong kung ano po yung GPA ? FSP lang po kasi ang nadiscuss sa amin ng asawa ko.
ReplyDeleteI am also victim of this insurance yesterday at Sm San lazaro and same shit they did to me among the others, how do I send a cancellation letter throw email or I need to go there and hand them the letter? Just a small amount of money but I sweat and work hard for that amount. Pls reply my comment. Thanks in advance
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