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Premium Payments Facilities

Payments shall be accepted and credited as premium by Insular Life only if the policy is in active status and under a premium paying mode. Payments made under a lapsed policy will only be accepted upon the policy owner’s submission of the required documents for the reinstatement of the said policy, as listed in Section IX.

All payment facilities listed herein other than Insular Life offices, will accept payment of premiums which may include outstanding loan interest, if any.

Payments other than renewal premiums, such as initial deposit on new business, loan and loan interest payments, policy servicing fees, deposit on Premium Deposit Fund and other policy-related payments shall be accepted in any Insular Life offices.

  1. OVER-THE-COUNTER PAYMENT AT INSULAR LIFE.

    Payments in cash, in check or credit card are accepted in any of Insular Life’s offices. Check payments must be payable to “Insular Life Assurance Co., Ltd.” and should not be post-dated. Credit card payments may also be accepted under the Premium Deal-lite Zero Percent (0%) Deferred Payment as well as the offsite Wireless POS and Online payment facilities.

    Under the Premium Deal-lite Zero Percent (0%) Deferred Payment offer, policy owners may pay their premiums over-the-counter in three (3) monthly installments at zero percent (0%) interest. This payment scheme is available for initial premiums, and renewal premiums paid on or before the policy’s premium due date, with a minimum premium transaction amount of P3,000. Premium Deal-Lite, is available under the following credit cards:

    • 1.1 Bankard - VISA, MasterCard, JCB
    • 1.2 BancoDe Oro (BDO) - VISA, MasterCard, JCB and American Express
    • 1.3 Bank of the Philippine Islands(BPI) - BPI Express Credit Card, VISA, MasterCard
    • 1.4 Hong Kong and Shanghai Banking Corporation (HSBC) - VISA, MasterCard
    • 1.5 UnionBank of the Philippines (UBP) including the Insular Life Visa credit card
    • 1.6 Citibank - VISA, MasterCard

    (Please note that this offer on Premium Deal-lite Zero Percent (0%) Deferred Payment is subject to yearly renewal between Insular Life and its partner banks.)

    Insular Life accepts payment transactions using the following credit cards in various district offices listed below:

    over-thecounter

  2. OVER THE COUNTER BANK PAYMENTS.

    Payments in cash and in check are accepted at all branches of UBP, BPI, BDO and Metrobank. In paying your premiums, fill out the bank’s bills payment slip and present it to the teller along with your current premium notice.

    • 2.1. Peso and dollar payments are accepted in the following banks:
      • 2.1.1. UnionBank of the Philippines (UBP)
      • 2.1.2 Bank of the Philippine Islands (BPI)
        • a. Peso Account Number : 0011-1420-52
        • b. Dollar Account Number: 1764-0050-54
    • 2.2. Only peso payments are accepted in the following banks:
      • 2.2.1 Banco De Oro
      • 2.2.2 Metrobank
  3. INTERNET BANKING FACILITIES

    Payments of premiums online are accepted in UBP, BPI and Metrobank. Enrollment through your depository bank is required to access this facility.

    • 3.1. For UnionBank Account Holders: This facility is available to Electronic Online (EON) and Regular ATM account holders. If you are an EON account holder, Union Bank will send via e-mail your online banking password. For regular ATM account holders, go to any UnionBank ATM, and access the Internet PIN generator menu for your internet PIN. Then, to enroll, log on to www.unionbankph.com and follow the on-screen instructions.
    • 3.2. For BPI Account Holders: This facility is available to all BPI account holders. To enroll, log on to www.bpiexpressonline.com and follow the on-screen instructions. Fill out an on-line form and submit online.
    • 3.3. For Metrobank account holders: This facility is available to all Metrobank account holders. To enroll, go to any Metrobank branch or log on to https://www.metrobank.com.ph and enroll in Metrobankdirect. Fill out an on-line form and submit online.
  4. CREDIT CARD PAYMENT FACILITIES.

    Credit card payments are also accepted online, off-site and through automatic installment deductions aside from over-the-counter remittances in Insular Life’s offices as stated in Item 1.

  5. ONLINE.

    To pay your premiums online, you have to enroll under the Insular-Effective Access to Gateway Link Electronic system (i-EAGLE) Customer Portal. To enroll, please follow the following steps:

    Under the online facility, you may pay your premium through e-BAYAD or through the Automatic Charging Option (ACO).

    • 5.1. e-BAYAD. This is a customer-initiated online credit card payment facility for a single payment transaction on a premium which is currently due. Upon payment, an acknowledgement receipt shall be issued to your i-EAGLE Customer Portal. The payment shall be credited to the policy after two (2) to three (3) working days from the date of the approval of the payment transaction, upon which a payment transaction confirmation containing the official receipt number, shall be sent to the policy owner’s i-EAGLE mailbox for reference.

      You may pay your premiums under e-Bayad through the following steps:

      • a. Log in/ access to your enrolled i-Eagle Customer Portal account.
      • b. Select the policy owner’s services and policy information tabs.
      • c. Select the “click here” link, on the policy information page.
      • d. Select the “proceed with payment” on a new window.
      • e. Read the Terms and Conditions carefully and click on AGREE button to continue or DISAGREE button to go back to the Policy Information page.
      • f. Select the policy to be paid and fill-out the required credit card details.
      • g. Click on the PROCEED WITH PAYMENT button for the approval of the transaction by the partner bank’s payment gateway.
      • h. Wait for the payment transaction confirmation.
    • 5.2. Automatic Charging Option (ACO). This facility allows the use of a policy owner’s enrolled VISA or MasterCard for the automatic charging of current and future premiums every due date. Enrollment to this facility is required and may be done online, through the phone, or over-the-counter.

      To enroll online, following are the steps:

      • a. Go to the Insular Life website http://www.insularlife.com.ph.
      • b. Click on “Customer Portal”.
      • c. Select ”Customer Portal” and click on “sign in”.
      • d. Log in/access your personal account.
      • e. Click on the ACO tab, read the ACO Terms and Conditions and select agree button to continue.
      • f. Answer the security questions.
      • g. Enroll your VISA/MasterCard credit card.
      • h. Click “Submit” button.
      • i. Select the policies to be enrolled with the corresponding enrolled credit cards.
      • j. Click “Submit” button to confirm assignment of policies to a credit card.
      • k. Wait for the enrollment confirmation via SMS, your i-EAGLE Mailbox and your Personal Email.

      To enroll over-the-counter, following are the steps:

      • a. Go to the nearest and most convenient Insular Life office.
      • b. Fill out and sign the Authorization for Automatic Charging Option (ACO) Form
      • c. Complete the other ACO enrollment requirements:
        • i. i-EAGLE Customer Portal Registration Form
        • ii. Signed photocopy of the front face of the credit card
        • iii. Customer Information Update (CIU) Form, if credit cardholder is other than policy owner
      • d. Once the enrollment has been processed, a notification will be sent to the Policy Owner’s i-EAGLE Customer Portal.

      To enroll over-the-phone, following are the steps:

  6. OFF-SITE

    WIRELESS POINT OF SALE (POS). This is an off-site facility, where you can pay your premiums at your preferred pick-up address using your VISA or MasterCard credit cards.

    Following are the criteria to avail of the Wireless POS:

    • 6.1. The requested pick-up venue must be within Metro Manila and some parts of Cavite and Laguna areas. Request for pick up must be made three (3) days before the preferred date of pick-up and must be confirmed by the servicing unit.
    • 6.2. The minimum premium amount for free pick-up service is P30,000 per visit.
    • 6.3. A service fee of P200 applies for pick-up amounts less than P30,000.
  7. INSTALLMENT

    EASY PAYMENT OPTION (EPOn). This facility enables the policy owner to charge to his credit card (VISA or MasterCard) his monthly deposit into an EPOn fund. This EPOn fund earns an interest based on the prevailing rate determined by the Company and approved by the Insurance Commission. Whenever a modal premium is due, the amount is deducted from such EPOn fund.

    Steps for enrollment:

    • a. Go to the nearest and most convenient Insular Life office.
    • b. Fill out and sign the Application for Easy Payment Option (EPOn) Form, Authorization for Automatic Charging Option (ACO),Form and Application for Easy Pay Plus (PDF) Form.
    • c. Complete the other EPOn enrollment requirements:
      • i. i-EAGLE Customer Portal Registration Form
      • ii. Signed photocopy of the front face of the credit card
      • iii. Customer Information Update (CIU) Form, if deposit account owner is other than policy owner
      • iv. Declaration Page, with attached EPOn Scheduler

      Once enrollment has been processed, a notification will be sent to the Policy Owner’s i- EAGLE mailbox.

  8. ATM.

    Payment of premiums are accepted under BPI Express Teller and Megalink. Enroll in this facility at the branch where you maintain your account. Bring your premium notice or official receipt of your last payment when you apply.

  9. PHONE BANKING.

    Payment of premiums through phone banking is accepted under BPI Phone Payment. Enroll in this facility at the BPI branch where you maintain your account. Bring your premium notice or official receipt of your last payment when you apply.

  10. POST-DATED CHECKS (PDC) WAREHOUSING.

    Post dated checks together with an accomplished PDC form may be submitted in all Insular Life offices. The number of checks to be issued will be based on the modal premium. Upon take-up of the payment (represented by the post dated check) to a premium due, an official receipt shall be issued and sent to the policy owner.

  11. WIRE REMITTANCE TRANSFER.

    Premiums may be paid even when you are abroad. You may proceed to a Commercial Bank or Remittance Center with wire transfer facility and request your payment to be credited to Insular Life’s account with BPI. All bank charges for the wire transfer shall be for the account of the policy owner. The total amount to be transferred should therefore consider bank charges. The following are the details of Insular Life’s account with BPI, which should be indicated in the remittance slip:

    • 11.1. For PESO Policy

      Bank Name/Branch : Bank of the Philippine Islands (BPI)/Insular-Alabang
      Bank Address: G/F Insular Life Corporate Centre, Insular Drive, Alabang, Muntinlupa
      Account Name : The Insular Life Assurance Co., Ltd.
      Account Number : 8841-0000-22
      Policy Number : ILXXXXXXXXXX
      SWIFT Code : BOPIPHMM

    • 11.2. For DOLLAR Policy

      Bank Name/Branch : Bank of the Philippine Islands (BPI)/Alabang-Madrigal
      Bank Address: Madrigal BusinessPark, Bldg. Acacia corner Commerce Avenue, Ayala, Alabang, MuntinlupaCity
      Account Name : The Insular Life Assurance Co., Ltd.
      Account Number : 1764-0050-54
      Policy Number : ILXXXXXXXXXX
      SWIFT Code : BOPIPHMM

    Please ensure that the Remittance Center indicates the policy number and name of the policy owner in the “Remittance Instruction” to be sent to BPI. The payment amount should also be credited to Insular Life’s BPI account as “bills payment”, to ensure that the remittance will be taken up immediately.

    Please note that, after you have remitted your premium payment, please notify Insular Life of your remittance by sending us a scanned copy of the validated wire transfer or telegraphic transfer form via letter addressed to Insular Life c/o Cash Management Department or email addressed to This email address is being protected from spambots. You need JavaScript enabled to view it. .

  12. OVERSEAS COLLECTION PARTNERS

    You may also pay your premiums abroad, through a BPI Remittance Center or through I-Remit, Inc. Simply present your premium notice and fill out the remittance slip to pay your current premium due.

  13. AUTO DEBIT ARRANGEMENT (ADA).

    This facility provides the convenience of having your premiums automatically paid through an enrolled UBP/BPI/BDO bank deposit account. Your modal premium due from your policy shall be automatically deducted from your enrolled bank deposit account on your preferred debiting date.

    Steps for enrollment:

    • a. Fill out and sign Insular Life’s Authorization for Automatic Debit Arrangement (ADA) Form and Automatic Debit Arrangement Form from UBP/BPI/BDO.
    • b. Complete the following ADA enrollment requirements:
      • i. i-EAGLE Customer Portal Registration Form
      • ii. Customer Information Update (CIU) Form, if deposit account owner is other than policy owner
    • c. Submit duly signed and accomplished requirements to any Insular Life office. Once the enrollment has been processed and activated, a notification will be sent to the Policy Owner’s i-EAGLE mailbox.