Is Cocolife Future Saving Platinum Fraud? - Here's How to Refund Your Money (Personal Experience)



Perhaps you stumbled on this blog post trying to find out if COCOLIFE Future Saving Platinum is fraud because you got into a situation wherein you just went malling and someone approached you telling you that you have a chance to get freebies like tumbler or bag without doing anything and you just need to listen for 45 minute orientation. Maybe you got interested in the offer of winning an international travel that will be sponsored by COCOLIFE and all you need to do is to advertise their company and you don't need to spend money. And they will ask you if you have Php. 15,000 plus on your ATM card for to qualified. So you decided to go with them thinking that it will just be fast and you won't be spending anything.



Here comes the catch, after you entered their branch office inside the mall. You will be interviewed by their manager asking if you were forced to go and if you are aware of the 45 minutes orientation. They will also ask a recent receipt of your ATM card if it has real money or sometimes they will swipe it just to check.

Then a financial advisor will talk to you inside their conference room. Somewhat you are hesitant to do it but they are very good in persuading people so you'll just go beside it will be just 45 minutes and you'll get the freebies and have a ticket to win an international travel.

At this moment, the financial advisor will ask you about your dreams and goals in life. In this is were the sale's talk begins for them to let you purchase a life insurance. They will show you how it works and will let you think that you really need it. They are not forcing you to join however because of the pressure and the deceptive sales talk you signed the contract and let swipe your card. They will also take a video of you showing that they didn't force you to do it.

And you finally realize you got involved in something that you are not really sure. The sad part is that they were able to get your money. You went home frustrated blaming your foolishness why you signed the contract and gave your card. Well, we make mistakes and I'm one of this foolish who got caught by their bait but does you worry, I'll teach you how to correct and refund your money.


Can I still have my full refund?

The answer is YES. You can still get your money back and I will teach you the easiest way on how to refund your money. No need for you to call/text the financial advisor who forced/deceived you to get the life insurance or even go to the branch where you got the plan.

1. First is you need to write a letter about your decision. Address it to their main office at MAKATI CITY. Tell them that you cannot pay the monthly recurring payments and you have changed your mind. Be firm with your decision. You need to submit the letter personally and don't talk too much just tell them you want a refund and you've changed your mind. Here's a sample letter:


2. And they will tell you it will take 35 days to be processed for they need to investigate what happened. They will also give you their hotline number to call. You need to call the number once a week for updates. This is very important since they will prolong your wait if you won't inquire and inquire about the process.

3. Finally, if your refund is approved which usually all the time. You need to call first to confirm if the cheque is already available at the branch where you got the plan. If yes, you will need to deposit it to your atm card before you can convert it again to cash since the cheque can't be withdrawn.

Here's the sample:



It took me 2 months to get back my money but it was worth it since it was my hard earned money and I can't just invest in something that I don't really understand. The FSP was good if you are looking for life insurance but they should not be so deceiving and coercive in selling their life insurance. They should explain it well without time pressure. They need to let client think well, give ample time for clients to decide.

Hope I've helped you with your worries and concern. 


18 comments:

  1. Hi, all the time i used to check webpage posts here in the early hours in the
    dawn, for the reason that i love to find out more and more.

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    1. hi! i was also deceived by their agents just this may 29, 2018. Exactly the same experience you had when i went to the mall and experienced the same deception tactics like the raffle thing and freebies.
      Now I want my money back. You mentioned on your sample letter about 15 days look up period. I'm not sure if I also have that because that was not mentioned to me that I will have a 15 days look up period. How will I know if I was even given a look up period? Or is this automatic that every new recruit will be given a look up period?

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    2. Every insurance po meron na 15 days grace period na kunga saan pwede mo po irefund yung pera or icancel and subscription nyo po.

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  2. pano po kung gusto ko ipacancel n ang FSP kc po stressed n ko,feeling ko nloko talaga nila ako,Dios n bahala s kanila.kahit di n po marefund.ano po gagawin ko?need ko p po b pumunta ng office nila o basta hwag n lng ako maghulog.kc po ung unang bayad ko ay iniswype s atm.fear ko lng po bk mbawasan nila atm ko.please help po.thanks

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    Replies
    1. Yes po, go to main branch and request for a full refund. Basahin nyo po blog nandyan po process.

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    2. Hi my contract is 10 months na, can I still terminate the contract and get a refund? Thank you

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    3. Yes po. But since its 10 months already at may cash value na, nakadepende po sa contract if marerefund mo ng buo or prorated na. I would advice po na kausapin nyo po ang financial advisor na nag sign up sainyo to get clear information on how to cancel and refund the money and matanung nyo din po ang prons and cons ng action since malaking halaga na ang naihulog nyo.

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  3. Hi po. Pwede pa din po kaya ipa-cancel kahit almost 1month since na avail ko ung FSP? Kala ko po kasi hindi pwede mgpa cancel ngyon ko lang nakita na pwede pala.

    ReplyDelete
    Replies
    1. Yes po, wala naman silang magagawa if ayaw mo na. All insurance company have this 15 days grace period kung saan pwede mo macancel ang policy at mag refund. But if its 1 month na, mag iinvestigate po sila nyan and nakadepende sa reason mo why you don't want to continue. Just be firm na di mo na kaya bayaran at ayaw mo na wala silang magagawa dyan, and I think baka po prorated na ang pera mo kasi may cash value na yan at nainvest nadin sa market.Much better if you ask your financial advisor before doing this.

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  4. Its been a month na po since na avail ko ung FSP, pag pina cancel ko po sya may makukuha pa po kaya ako? Thanks po.

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    1. Yes po, pwede mo po ipacancel at irefund yan. Prorated na nga lang since may cash value na at nainvest na sa market but much better na icancel if di mo naman po mapapanagutan ang monthly payment.

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  5. 10 months na po yung contract ko, can I still terminate the contract and get a refund?

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    Replies
    1. Base po sa mga nababasa ko. YES. But it will not be the exact money na binayad nyo since may cash value na.

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  6. Yung sakin po ba makukuha pa? Mag 3yrs na kc ako d umuuwi pilipinas dito ako abroad. Nxt year uuwi ako. Patulong naman po pano ma refund.

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    Replies
    1. Patuloy ka pa po ba naghuhulog dun? Future saving plan po ba kinuha nyo? Kasi depende po sa insurance policy. If future saving plan at may cash value pa po ang naihulog nyo, marerefund nyo po but prorated na.

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  7. In the beginning of the test, certain simple questions are asked to establish the norms for that person's signals, based on which the signals for the tough questions that follow can be read liedetectors.co.uk

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  8. Pwede po ba via email lang po magpacancel sa cocolife kasi nasa probinsya po ako. Kahapon kulang nakuha at nakauwi na po ako? Or kailangan talaga pumunta sa main office nila?

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    Replies
    1. Mahirap po pag email lang usually hindi ka nyan iprioritize. Advice po kasi is you need to go sa branch na kinuhanan mo or sa main branch mismo ng cocolife. Or try to call their customer service po, dun ka marequest ng refund. nandun po ang trunk number nila sa FSP na paper na binigay sayo.

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