The complaints keep on coming because Manila Bankers Life Insurance keeps on scamming.

Its modus operandi goes like this:

  1. Call or text people using private numbers procured from some entity that has access to or collects personal data. Another way is to approach people at the mall (it’s best if the person looks young or timid);
  2. Catch victim’s attention with promises of freebies and discounts;
  3. Use praise, scare tactics or both to get the victim’s guard down before proceeding into your practiced, company-approved spiel, repeatedly emphasizing the investment or protection aspect of the product;
  4. Ask to see victim’s credit card or debit card, promise that it will only be used for verification purposes. Do everything possible to get victim to hand over the credit or debit card;
  5. Swipe the card and charge the highest amount possible without letting the victim know;
  6. Return card and pretend nothing was charged or debited;
  7. Get victim to sign insurance policy with authorization for credit or debit made. Do everything in your power to make sure that victim is unaware of what he/she is signing;
  8. If victim realizes that a charge was made, pretend that you had no control over what happened and there’s nothing that can be done about it;
  9. Escort victim out the door. Feel your soul get closer to the eternal fires of Hell, but what the heck, you made a sale, so yay to you!

However, you can get your money back after you’ve been duped by Manila Bankers. Take it from Bhagz who graciously allowed me to repost her experience for the information of others who were also deceived into parting with their hard-earned money.

Here’s the timeline of Bhagz’ experience:

November 18, 2017 – signed a policy with Manila Bankers. That same night, she realized how scammy/scummy Manila Bankers was and decided to terminate her policy.

November 20, 2017- emailed a cancellation letter to Manila Bankers with the Insurance Commission copied in to the email.

November 28, 2017- submitted a hard copy of the cancellation letter at the Manila Bankers head office in Ayala Ave. The Insurance Commission was also copied in to the cancellation letter.

December 11, 2017- received a letter from the Insurance Commission where Manila Bankers was directed to reverse the charges made. The letter contained 7 other names with the same directive to Manila Bankers to also reverse the charges made on their accounts.

December 18, 2017 – received an email from Manila Bankers informing her of the cancellation of her insurance policy and reimbursement of her money subject to the submission of the following requirements: release waiver, quitclaim, bank chargeback form (all three documents to be provided by Manila Bankers) and the insurance policy/contract.

January 5, 2018 – went to the Manila Bankers office/kiosk in Robinson’s Galleria to sign and submit the required documents.

February 18, 2018 – left a comment that she finally received her reimbursement and that it was deposited in her account.

The best scenario is that you totally ignore the Manila Bankers agents when they call you or when they approach you at the malls. But if you already fell prey to their wily tactics, be sure to do what Bhagz did by submitting a cancellation letter within the cooling-off period or within 15/30 days after you signed the policy. Any request for termination within the cooling-off period is automatically granted, no questions asked.

However, it gets trickier if your case no longer falls within the cooling-off period because you’ll have to file a formal complaint with the Insurance Commission if Manila Bankers refuses to reimburse your money. I doubt that it will be expensive to pursue a formal complaint, but for sure it will be time consuming.

If you don’t have the energy to go through all that, then just cancel any automatic charges made on your credit card or debit card for the yearly renewal of the policy and chalk up your run-in with Manila Bankers to experience. Be sure that you learn something from that experience though by never falling victim to similar schemes in the future and helping others who went through the same thing you did.

(Other posts on Manila Bankers Life Insurance can be found here and here.)

Update as of July 11, 2018:

Here are Manila Bankers’ contact details:

Email: support@mblife.com.ph

Hotlines: +63998-9641223
+63917-5424079
+632810-1051 Loc. 205

Main Office:
MB Life Insurance Corp.
3rd Floor, VGP Center, 6772 Ayala Ave,
Legazpi Village, Makati City,
Philippines 1223.

It’s best to send Manila Bankers an actual letter cancellation via registered mail or courier with the Insurance Commission copied in to the letter (meaning a copy of the letter is also sent to them). Send the copy for the Insurance Commission at:

IC Manila
1071 United Nations Ave.,
Ermita, Manila

Good luck everyone!

Update as of November 1, 2018: Tips from Bobet of Truly Rich Makers. Thanks for this, sir!

Lahat ng insurance may “free look period” na 30 days. Kapag hindi ka satisfied sa insurance na nakuha mo simply cancel:

1. kung may auto-debit o auto-charge ka na pinirmahan, ipa-cancel mo agad sa bangko o sa credit card para wala nang subsequent payments.

2. gumawa agad ng letter para irequest ang cancellation at request for refund. Siguraduhing mai-kwento ng buo, ang dahilan kaya nag-ca-cancel. Kung palagay ninyo na na-i-scam ng ahente, isulat kung sino ang ahente at lahat ng nakausap na ahente, o manager, o kung-sinuman.

3. tumawag agd sa support line ng Manila Bankers Life, para mag-tanong kung paano mag-cancel at ano ang documents na kailangan asikasuhin.

Hotlines:
+63998-9641223
+63917-5424079
+632810-1051 Loc. 205

4. Ipadala sa email ang letter of cancellation.

Email: support@mblife.com.ph

5. Ilagay na addressee sa letter:

— Underwriting Department
Manila Bankers Life
cc:
The Commissioner
Insurance Commission

6. Ipadala via registered mail o courier/messenger ang inyong letter. Ang courier/messenger service ay mura lang,via LBC o FASTTrack or Xend, etc.

Underwriting Department
MB Life Insurance Corp.
3rd Floor, VGP Center, 6772 Ayala Ave,
Legazpi Village, Makati City,
Philippines 1223.

At

The Commissioner
Insurance Commission Manila
1071 United Nations Ave.,
Ermita, Manila

7. I-follow up ang inyong case, magpunta sa MB Life sa Ayala Ave, o tumawag sa hotline, o mag-email sa support. Kung may ibigay na ticker number o reference number tandaan ito, at banggitin sa sunod na follow up.

Bilisan lang natin ang pagasikaso, kasi makalipas ng 30 days, baka hindi na i-entertain ang inyong complaint. Kapag within 30 days, wala pong maaring gawin ang MB Life kundi icancel ang policy at ibalik ang any payment.

Tandaan po natin na ang MB Life company at MB Life agent ay dalawang separate na entity. Maaring may masabi ang agent na hindi wasto o hindi accurate.

Ang maski anong insurance company ay ayaw na magkaroon ng cancellation, kaya ang mga hindi kanais-nais na practices ng ilang mga ahente ay hindi approved ng life insurance company.

Ang bawat cancellation ay napakaraming paper work na walang katumbas na kita sa insurance company.

Ang mabilis na pag-cancel lang ang magandang paraan para maparusahan ang mga ahenteng hindi maganda ang gawa. Mawawalan sila ng komisyon, mapapagalitan. At kung may sapat na dami ng valid complaints, matatanggal sa kumpanya.

Kung sila ay magpatuloy, ibig sabihin, hindi ipinaglaban ng mga biktima ang kanilang karapatan.

Kaya mag-reklamo po, kung palagay ninyo na-i-scam kayo.

34 Comments on How to Get Your Money Back From Manila Bankers Life Insurance

  1. Min
    March 19, 2018 at 5:06 pm (9 months ago)

    Hi,

    Thanks for this. I just fell into this trap at Robinson’s Galleria today. I don’t know, I am usually very careful with my finances but for some reason I willingly agreed to everything they offered me today. This is something I don’t need, since I already have other active insurances but I still signed up. Naawa lang ako sa agent kasi sabi niya kelangan na niya lang maka-kota for that day, and all I have to do is listen to them introduce their products. Ahh, I feel so stupid. It’s not a very big amount but I feel that I don’t want to trust my finances with a company that fools/tricks its clients. Insurance should be based on trust. If you have time, can you give more details about the cancellation procedure? To which email address do we have to send the cancellation? (Is this right? reportscam@insurance.gov.ph) To whom do we address the letter? Any tips/guidelines on what to write on the cancellation letter? Thank you very much and more power!

    Reply
    • Marinel pacis
      May 22, 2018 at 9:58 am (7 months ago)

      Nabawi nyo po ba pera nyo?

      Reply
    • Manila Bankers Life Insurance Corp.
      July 30, 2018 at 6:33 am (4 months ago)

      Hi

      We appreciate your valuable feedback as it helps us identify the areas we can improve.
      We are currently upgraded our customer service to address your concern.

      We wish to address and reply to your concerns please email us at:
      support@mblife.com.ph

      You may also follow up through our hotlines:
      +63998-9641223
      +63917-5424079
      +632810-1051 Loc. 205

      Or visit our main office here is our address:
      MB Life Insurance Corp.
      3rd Floor, VGP Center, 6772 Ayala Ave,
      Legazpi Village, Makati City,
      Philippines 1223.

      Thank you and have a great day!
      MB Life Insurance Corp.

      Reply
  2. Miggy
    April 16, 2018 at 1:18 pm (8 months ago)

    HI SIR! Patulong naman po regarding sa MB Life insurance na yan. Last August 25, 2017 pa ko nagsign ng insurance sakanila then sabi nung agent saken pag naginsurance after ng mga ilang years magagamit ko sa mga ganto ganyan etc. una palang kase talagang ayaw ko kumuha sakanila kase my isa na ko insurance sa isang coop association then that time na salestalk na ako hanggang sa hnd nla ako pnayagan lumabas ng room hanggat hnd ako nakakapag sign sakanila pinakita ko laman ng cash card ko buti na lang hnd ko dala atm debit card ko then nung sabi ko pagiisipan ko dun nila sinabi saken na kahit magkano na lang daw or kung sadyang ipon ko ung nasa card ko at talagang akin un makakapag decide ako sa sarili ko at talagang iniinsists nila na magpa insurance ako sakanila then mga dec. 2017 gusto ko na ipacancel kase that time nawalan ako ng work sabi saken hnd ko daw po pwede marefund pa kase wala pa cash value. So pano pong gagawin ko ngaun 2018 na po makukuha ko pa po ba ung refund ko? Thank you!
    Sana po makareply kayo.

    Reply
    • Jillsabs
      April 19, 2018 at 3:51 am (8 months ago)

      Hi Miggy,

      I’m sorry pero hindi mo na mababawi ang nabayad mo sa insurance policy kasi lagpas na sa cooling off period na 15/30 days after signing the insurance contract, kaya hindi na pwedeng ipacancel ang contract.

      Pero hindi mo naman kelangan ipagpatuloy ang pagbayad sa policy at pwede mo na lng siyang ipalapse para automatic na materminate. Kung naka auto debit yung bayad sa ATM card mo, ipa cancel mo lng Yung charge sa bangko mo. Good luck!

      Reply
      • Marinel pacis
        May 22, 2018 at 9:49 am (7 months ago)

        Kinina lng po nabiktima dn ako sa robinson..pahelp naman po pano ko mabawi pera ko

        Reply
        • Jillsabs
          May 25, 2018 at 10:08 pm (7 months ago)

          Hi Marinel,

          Nasa post na kung paano ang proseso para mabawi ang pera galing sa Manila Bankers. Sundin mo na lang yung nakasulat doon.

          Good luck!

          Reply
          • Marinel pacis
            June 7, 2018 at 12:11 am (6 months ago)

            Nakapagpasa na po ako..my sinend na din pong email sakin ang i.c pero wala pa pong contact sakin ang mblife..ndi ako makauwi uwi ng probinsya dhil jan..sabi nla after 10 days pero anong petya na wala pa silang msg sakin..may 23, pa naipasa ung complaint

    • Manila Bankers Life Insurance
      July 30, 2018 at 6:33 am (4 months ago)

      Hi

      We appreciate your valuable feedback as it helps us identify the areas we can improve.
      We are currently upgraded our customer service to address your concern.

      We wish to address and reply to your concerns please email us at:
      support@mblife.com.ph

      You may also follow up through our hotlines:
      +63998-9641223
      +63917-5424079
      +632810-1051 Loc. 205

      Or visit our main office here is our address:
      MB Life Insurance Corp.
      3rd Floor, VGP Center, 6772 Ayala Ave,
      Legazpi Village, Makati City,
      Philippines 1223.

      Thank you and have a great day!
      MB Life Insurance Corp.

      Reply
  3. Camille Bilo
    May 28, 2018 at 6:41 am (7 months ago)

    ptulong naman po ako kung paano please.

    Reply
    • Rocky
      May 30, 2018 at 8:09 am (6 months ago)

      Go to the ofc of the insurance comission at u.n. ave manila

      Reply
    • Manila Bankers Life Insurance Corp.
      July 30, 2018 at 6:34 am (4 months ago)

      Hi

      We appreciate your valuable feedback as it helps us identify the areas we can improve.
      We are currently upgraded our customer service to address your concern.

      We wish to address and reply to your concerns please email us at:
      support@mblife.com.ph

      You may also follow up through our hotlines:
      +63998-9641223
      +63917-5424079
      +632810-1051 Loc. 205

      Or visit our main office here is our address:
      MB Life Insurance Corp.
      3rd Floor, VGP Center, 6772 Ayala Ave,
      Legazpi Village, Makati City,
      Philippines 1223.

      Thank you and have a great day!
      MB Life Insurance Corp.

      Reply
  4. Jazz
    July 10, 2018 at 10:53 am (5 months ago)

    I just signed up today and badly saw all the bad comments about MB. Can you help us where we can send our email for cancellation and what insurance commission email address? I want to cancel my contract with them.

    Thanks in advance!

    Reply
    • Jillsabs
      July 11, 2018 at 9:55 am (5 months ago)

      Hi Jazz,

      THis is quoted from Manila Bankers’ many comments in my blog:

      We wish to address and reply to your concerns please email us at:
      support@mblife.com.ph

      You may also follow up through our hotlines:
      +63998-9641223
      +63917-5424079
      +632810-1051 Loc. 205

      Or visit our main office here is our address:
      MB Life Insurance Corp.
      3rd Floor, VGP Center, 6772 Ayala Ave,
      Legazpi Village, Makati City,
      Philippines 1223.

      The insurance commission email addresses are:

      publicassistance@insurance.gov.ph
      reportscam@insurance.gov.ph

      But for best results, I suggest that you send an actual letter cancellation via registered mail or by courier with a copy of the letter sent to the Insurance Commission at this address:

      IC Manila
      1071 United Nations Ave.,
      Ermita, Manila

      Good luck!

      Reply
      • adrian antolines
        August 13, 2018 at 12:56 pm (4 months ago)

        pano po ulit gagawin para mapa cancel ung insurance ko sa mb life kanina lang po ako naalok huhuhu pwede kaya pumunata ako sa office nila?

        Reply
    • Manila Bankers Life Insurance Corp.
      July 30, 2018 at 6:35 am (4 months ago)

      Hi

      We appreciate your valuable feedback as it helps us identify the areas we can improve.
      We are currently upgraded our customer service to address your concern.

      We wish to address and reply to your concerns please email us at:
      support@mblife.com.ph

      You may also follow up through our hotlines:
      +63998-9641223
      +63917-5424079
      +632810-1051 Loc. 205

      Or visit our main office here is our address:
      MB Life Insurance Corp.
      3rd Floor, VGP Center, 6772 Ayala Ave,
      Legazpi Village, Makati City,
      Philippines 1223.

      Thank you and have a great day!
      MB Life Insurance Corp.

      Reply
    • banana
      September 6, 2018 at 3:39 am (3 months ago)

      Hi,would like to know if you were able to cancel your insurance policy?

      Reply
  5. Albert
    July 27, 2018 at 12:59 pm (5 months ago)

    Need help naman po. KUng paano ko makukuha yung pera ko at ipacancel yung mb life insurance ko. Salamat po.

    Reply
  6. gladalyn
    August 13, 2018 at 11:34 am (4 months ago)

    mam makukuha ko pa b yong kinuha nilang 57k sa atm ko nag sign po ako last march 2018 the next day po papa cancel ko po sana yong policy pero sabi d daw pwedi dahil 2yrs daw naka lagay s contract d ko po mabbayaran yon monthly dahil d n po ako nakaalis.

    Reply
  7. Vangie
    August 19, 2018 at 8:43 pm (4 months ago)

    Hi.last aug.17,2018 nbiktima din po kmi ng asawa ko nitong mblife insurance nto.ask ko lng po if pno po ako gagawa ng cancellation letter and knino ko po i aadress.more than 30k din po ung nkuha s min.and ko lng po nbasa about s mga feedback nto.pls help me po.thanks

    Reply
    • Banana
      September 4, 2018 at 8:33 pm (3 months ago)

      Hi Ms.Vangie,ask ko lng po if nakuha nyo po ung reimbursement nyo sa manila bankers?

      Reply
  8. Nhess villanueva
    September 16, 2018 at 1:18 pm (3 months ago)

    Hi po kanina lng po nag sign ako sa mb life sm dasma..ewan ko ba pumayag ako pumayag ako na iswipe ung atm ko 26k ung kinuha nila para dw un sa 1year insurance ko….ang dami ko kc nabasa na negative feedback ofw asawa ko…en parang duda sya dyan sa sinalihan ko…tapos pano ko kaya ipapa cancel ung monthly na bayad kc ibabawas dw nila sa atm ko automatic dw un…pwede ko kya ipa cancel un sa bank ko.para di sila makakuha ng pera sa atm mo?

    Reply
    • Joanna
      October 30, 2018 at 6:42 am (1 month ago)

      Hi Maam. Sa sm dasma ka din po nabiktima? Ako din eh pero maliit lang ang saken at sa credit card. Ano na po nangyari sa pagpapacancel nyo?

      Reply
  9. Sansan
    October 25, 2018 at 4:07 pm (2 months ago)

    Hi po, i was also a victim of that insurance knina lng. Can u pls help me panu ma icancel un. Sa credit card nila charge.

    Reply
    • Jillsabs
      October 26, 2018 at 7:02 am (2 months ago)

      Please read the post/s on Manila Bankers. Nandon ang tips on how to cancel the insurance policy.

      Reply
      • christine
        October 31, 2018 at 2:52 am (1 month ago)

        Mam Jillsabs, ng send na po ng mail for our letter of cancellation nung Oct 23,2018. but until now no reply po

        Reply
        • Jillsabs
          October 31, 2018 at 5:50 am (1 month ago)

          Hi Christine,

          One week pa lang ang nakakaraan, mejo maaga pa to expect a response from MB Life.

          Reply
      • Sansan
        October 31, 2018 at 10:11 am (1 month ago)

        Hi po ms. Jillsabs, ask lng po kelangan po ba idetalye ang reason for cancellation sa letter. And may case po b na d maapprove un kahit pasok pa nman sa cooling off period. Tumawag po k sa headofc nila e pag ngsubmit daw ng cancellation depende anu ang rison tpos kakausapin p daw yung agent. Bale for evaluation muna. May mga cases po ba na di naapprove khit nasa 15 days cooling off period pa. Naisahan tlga ako ng agent ng dinala ako dun. Ung 45mins nging 2hrs na. And closing nga po un. So since pagod n ko that time nung cnama ko sa ofc PArang nawala ako sa sarili . Ang problm ko nga po madaming pinasign pero d k n maalala lhat. Feeling ko nililigaw ka lng nila panay tanung ng kung anuanu para malibang ka without realizing n npapirma n pla ako.

        Reply
        • Jillsabs
          November 1, 2018 at 1:14 am (1 month ago)

          Hi Sansan,

          Kapag yung cancellation ay pinagawa sa loob ng 15 days cooling period, wala nang explanation na kailangan o evaluation na magaganap. Automatic cancellation yan. Wag kang maniwala sa MB Life na subject for approval pa nila yung cancellation request within the 15 day cooling period.

          Reply
          • Sansan
            November 1, 2018 at 7:25 am (1 month ago)

            Thank u po ms. Jillsabs sa tulong.

          • Mike
            December 1, 2018 at 12:59 pm (1 week ago)

            Hi po Ms. Jillsabs. Ano po ba ang email address ng IC para po maipadala ko rin sa kanila ang cancellation letter ko po. Thank you po!!

          • Jillsabs
            December 7, 2018 at 11:56 pm (3 days ago)

            Hi Mike,

            Heto ang contact page ng Insurance Commission: https://www.insurance.gov.ph/contact-us/

            Nandiyan ang email addresses and phone numbers nito.

  10. jean lyneth vitangcol
    November 9, 2018 at 1:43 am (1 month ago)

    hi ako 4 years na ko naghuhulog sa mb life. for many people its a scam. but technically it wasnt. kung di mo tlga gets kung ano use ng insurance, i feel sorry for all of you. kung babasahin nyo lng ung contract and policy maggamit nyo un in the future. pero s mga nd tlga gusto mag insurance, again i feel sorry. maybe you cant get your money back. ako never ako nagpauto debit and wala dn akong cc. i pay may insurance in cash.

    Reply

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