What to Do After You Get Scammed By Manila Bankers Life Insurance

Without a doubt, my post on the shady practices of Manila Bankers Life Insurance is the most popular post on my blog.

I'm still amazed that the comments keep coming in and how Manila Bankers continues to prey on innocent people who hand over their credit cards in good faith merely for verification purposes, but would later find themselves saddled with an exorbitant insurance premium.

Questions of available remedies for the duped and unwilling life insurance holders appear with scary regularity and the most popular suggestion was to submit cancellation letter with Manila Bankers within the 15/30 day cooling off period. It was also suggested that the Insurance Commission be given a copy of the cancellation letter and/or to submit a separate letter complaint to the Insurance Commission.

As it turns out, the Insurance Commission does listen and act on complaints! I don't know why I'm surprised to hear this though, maybe I've become so used to hearing about government apathy and incompetence that I've forgotten that government is also filled with silent workers that toil without glory or accolade in ensuring that the system runs smoothly while protecting the interests of its citizens. It just so happens that bad news is broadcasted on loudspeaker and is so much sexier to report on, thus, the resulting negative image.

Anyhoo, this article about the show cause order issued to Caritas Health Shield may sound eerily familiar:

The complainants claimed they had no intention of purchasing HMO products from Caritas Health Shield, and requested cancellation of their contracts and the return of their premiums that were charged on their credit and debit cards.“In the show cause order issued by the IC, Caritas Health Shield was ordered to cease and desist from engaging in the activity complained of pending the conduct of an investigation,” the IC stated.

The magic number seems to be 117 because generally the Insurance Commission would endorse the complaints received to the Association of Health Maintenance Organizations of the Philippines, Inc. (AHMOPI), as a form of self-policing or cleaning their own ranks. However, the Insurance Commission was impelled to take action after it received 117 similar complaints on the fraudulent swiping and charging of credit and debit cards. Hence the directive for Caritas Health Shield to answer the allegations of fraud and misrepresentation against it,

For those who have been similarly duped by Manila Bankers, the trick seems to be to work together and submit complaints en masse to make a statement that the Insurance Commission cannot ignore. I don't think that number of complaints has to reach 117 too, but something equally numerous should do the trick.

Nonetheless, it's probably not enough to submit a letter complaint, because the Insurance Commission has a specific format and process for the filing of a formal complaint. So if you really want to put an end to these deceptive practices, better haul your ass over to United Nations and lodge a formal complaint against Manila Bankers.

As always, the best thing to do is to ignore their sales pitch and not to hand over your credit or debit card. But if the damage has already been done, you can still file a cancellation letter within 15/30 days after signing the insurance contract and be sure to CC the Insurance Commission to the letter. However, for maximum results, although it will take some effort on your part, lodge a formal complaint with the Insurance Commission as well.

Good luck everyone!

Update as of July 11, 2018:

Here are Manila Bankers' contact details:

Email: support@mblife.com.ph

Hotlines: +63998-9641223
+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.

+632810-1051 Loc. 205

4. Ipadala sa email ang letter of cancellation.

5. Ilagay na addressee sa letter:

— Underwriting Department
Manila Bankers Life
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.


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.


Anonymous said…
Hello po, Ako din po, napilit nila yesterday to fill out survey form sa SM San Pablo. Natatakot lang ako kasi nabigay ko basic info ko, pero di naman yung mismong ID at ATM ko. Tanong ko lang po kung safe ako? Natatakot talaga ako, lalo na nung nabasa ko mga comments. Wala naman ako contract ng policy din na pinapirmahan sakin. Kinatatakot ko lang yung basic info ko, baka gamitin nila. Please help to answer my question, para maging panatag na ako. Buti na lang nagpumilit na ako umalis na di pa tapos presentation.

I hope na masagot po yung concern ko.
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