Sun Life Malaysia | Sun Life Malaysia

What are the benefits and advantages of e-payment or direct credit?

E-payment provides 4 main advantages and benefits:

1. Convenience
You will be able to make/receive payments at unconventional locations 24 hours a day, 7 days a week, 365 days a year. This eliminates the need to travel and deposit the cheque at the bank as payments are credited directly into your bank account.
2. Cost saving
You will be able to save more with E-payment transactions as they cost less in comparison to cheque where there are costs incurred such as postage, cheque writing fees and trips to Sun Life Malaysia’s office, bank or post office.
3. Speed
E-payment will reduce the amount of time that you spend on cheque writing and mailing. Funds are available within 2-3 working days from payment approval date (subject to the recipient bank’s processing time).
4. Security
E-payment is secured by means of encryption. It is a safe payment channel as you will avoid having to carry cash.

Will there be any registration fee imposed if I want to use e-payment?

No, you can enjoy the e-payment service free of charge.

What do I have to do to receive funds via e-payment?

To receive your funds via e-payment, inform us that you wish to receive your funds via e-payment when you first apply for a policy/contract. You may opt to update your e-Payment details via the SunAccess app. You may also indicate this in the Alteration form which can be found on our downloads page (https://www.sunlifemalaysia.com/client-care/downloads/) or obtained through your financial advisor. No cost will be charged for this purpose.

You are required to provide your bank account information in writing, or fill it up when you make your claim.

You must remember to update or inform us if there are any changes to your bank account details. Our contact information can be found here (https://www.sunlifemalaysia.com/contact-us/contact-info/).

Please ensure the account belongs to you, the policy owner of the policy.

What are the required supporting documents if I choose to receive e-payment?

You will require the following supporting documents:

National Registration Identity Card (NRIC) for Malaysian or permanent resident, passport for foreigner, or business registration forms (whichever is applicable); and
Submit either one of the following documents for validation purposes:
- Photocopy of the latest bank statement or first page of bank account passbook
- Certified letter from your bank confirming your bank details
- Details of your account printed from your bank’s website

Is there any restriction on the type of bank account that can be assigned for e-payment?

You can assign any of your existing active savings or current account held under your name or a joint account where you are the primary account holder. The savings or current account must be maintained with one of the financial institutions offering MEPS Inter-Bank GIRO (IBG) service.

Please refer to the following website for a current list of IBG members: http://www.myclear.org.my/interbank-GIRO/banks-tpa.html

When will my bank account be credited?

Funds will be made available in your bank account depending on the processing timeline adopted by your recipient bank. Payment will be made electronically into your bank account as soon as your claim has been approved.

Will I be notified once Sun Life Malaysia has made the payment?

Yes, an electronic notification via email or SMS will be sent to you once the payment has been successfully credited to your bank account. Therefore, kindly ensure your email address and mobile phone number submitted to Sun Life Malaysia is correct and up-to-date.

Can I change my bank account information?

Yes, you are allowed to change your bank account details via the SunAccess app or you may opt to submit the Alteration form together with the required supporting documents substantiating your request to us. The forms can be found here (https://www.sunlifemalaysia.com/client-care/downloads/) or obtained through your financial advisor. No cost will be charged for this purpose.

What happens if I provide the wrong bank account number to Sun Life Malaysia?

If your e-payment transaction to your bank account is not successful, Sun Life Malaysia reserves the right to make payment via another e-payment attempt or transfer the money to the Registrar of Unclaimed Money after one year. Please check your banking information submitted to Sun Life Malaysia to ensure it is correct and up-to-date.

What happens if my e-payment transaction is not successful?

If your e-payment transaction is not successful, Sun Life Malaysia reserves the right to make payment via another e-payment attempt or via cheque. Reasons for unsuccessful credit to your bank account can be due to invalid bank account number, closed or inactive bank account, different identification number, or if you are not the primary bank account holder. Therefore, kindly ensure that your banking information submitted to Sun Life Malaysia is correct and up-to-date.

What if I die before Sun Life Malaysia pays out my claims proceeds and the bank has frozen my account? Where does the money go then?

All monies due to a policy/contract holder in the event of his death will go to the administrators of his estate or his named beneficiaries.

I have previously claimed from Sun Life Malaysia and already provided my bank details. Do I need to re-submit all the bank supporting details every time I submit a claim?

You will not be required to inform us every time you make a claim. Once you have informed Sun Life Malaysia that you want all your claims to be settled via e-payment and you have submitted the relevant supporting documents, the information will be stored in our system. However, you must always remember to update your bank account details if there are any changes.

Is it compulsory for a claimant/applicant to fill up the bank account section of the claim form? What if I do not wish to reveal my banking details – how do I get paid?

E-payment is the most efficient and safest form of payment. In line with Bank Negara Malaysia’s directive, all insurance companies are required to intensify efforts to cease cheque usage. Hence, please provide your bank account information in order for Sun Life Malaysia to process payment of claims and refunds to you.

I have been blacklisted by banks/adjudicated a bankrupt and unable to open a bank account. How do I get paid?

If you have been blacklisted by banks and are not able to open a bank account, Sun Life Malaysia is unable to effect any payment to you until you open a bank account.

If you have been adjudicated a bankrupt and are unable to open a bank account, please seek clearance from Ketua Pengarah Insolvensi to whom the payment can be made and advise us accordingly.

Who should I refer to if I needed assistance?

For enquiries, please contact Sun Life Malaysia’s Client Careline at 1300-88-5055 or email to wecare@sunlifemalaysia.com.

How does e-payment apply to my insurance plan?

The Life Insurance Association of Malaysia (LIAM) has a series of videos that highlight the process and advantages of using e-payment for your insurance plans.

Video 1 - https://www.youtube.com/watch?v=CQab_ocjDdE
Video 2 - https://www.youtube.com/watch?v=W5QUUlYURVQ
Video 3 - https://www.youtube.com/watch?v=W7U5bLAfmb4&t=18s
Video 4 - https://www.youtube.com/watch?v=DDYNfPmneCI

Frequently asked questions (FAQs)

Client Care