For six years, I faithfully paid into my Sun Life insurance, but it came with struggles to keep it up. I was pressured into signing up by Sun Life, and the more I paid, the more it began to feel like a trap. The guilt trips and promises of security left me with nothing but stress and confusion. I was locked into a system that seemed designed to keep me paying without offering any real peace of mind.
Over the years, I found it increasingly difficult to keep my premiums up. With just one income coming from my husband and my own side hustle, the payments were a constant source of worry. Each year, I had to pay RM3000, and I realized that in 11 years, I would have paid RM33,000 for something I didn’t even need. In the back of my mind, I kept thinking: What if that RM15k runs out? I got that RM15k from my previous insurance, which my mom made for me years ago before she canceled it. I then passed it down to my daughter's bank account.
It all started with a call from Sun Life, telling me about a package I needed to take for my daughter’s future. I told them no, but they insisted and even guilt-tripped me into taking it, saying that my daughter would get a lot of money if something happened to me, helping her financially in the future. But the aftermath only gave me headaches, constant worrying, and stress to keep up with the payments. I’m not like other people who live in debt; I like to be debt-free, but I felt like I was fooling myself. So, of course, I continued listening because I love my daughter, and money was tight at my end. But it was weird that when I had my RM15k and put it in my daughter's bank, they suddenly called me. It was obvious they were trying to take my money with their false promises. But out of love for my daughter, I gave in. That’s how I started being manipulated into joining this Sun Life cult.
Over the years with Sun Life, I slowly began to think more clearly. Yes, death is unpredictable, but so is life. I’m still young. If I were to pass away, the funeral could cost around RM15k, but in Malaysia, there are ways to reduce costs if you're good at researching and preparing for the "what-ifs" earlier in life, so your future generations don’t suffer. Sure, government hospitals may be slower, but they’re still affordable. I understand why people complain, but remember, we are all poor, so stop complaining if you can’t afford a private hospital. Also, I have family members working in government hospitals, and I know I could count on them if anything went wrong.
In the end, I had to ask myself: Was all this stress worth it? Was it worth the endless payments when I didn’t even need it to begin with? The insurance was supposed to provide peace of mind, but it only drained me emotionally and financially every day! I realized that my insurance wasn’t providing what I needed, so I decided to cancel it, and I don't regret it at all. Though I lost about half of my money due to cancellation fees, I know it’s better to deal with it now than to keep stressing over it. I can always start over from scratch because I’m still in my 30s. If I were in my 50s, then yes, I’d probably be screwed because it's hard getting a job with this age, but it’s still not impossible. I’m lucky I made this decision now, before I literally died from the stress and heart attack that this whole insurance situation was giving me.
I know that insurance can be beneficial for some, especially those with medical issues or people who want to buy a house or car. But that’s not me because there’s always another way without needing insurance. My husband and I decided we don’t need a car or a house right now. We’ll rent a place and use public transport. If we find a suitable rental home in KL, we might consider rental insurance, but that’s something for future me to handle.
I also started thinking about my daughter’s future constantly. If I could change my past, I would have taken my daughter’s insurance money and just put it in her bank so the interest could grow. I wish I’d learned about the importance of bank interest in my 30s. I wish someone had told me this when I was growing up. Instead, my parents never taught me how to manage money, and now I’m stuck playing catch-up.
But here’s where my frustration really kicks in: The insurance industry, especially Sun Life, is supposed to build on trust—trust that was shattered for me. I’ve heard countless stories, one of which was when someone's loved one died. They knew the person had insurance from Sun Life, only for the insurance company to refuse payouts. The beneficiaries were left to pay funeral costs out of their own savings, despite having been loyal to the insurance company for years. Sure, this doesn’t happen to everyone, but the fact that it happens at all makes me lose all faith in the system. Another story was about a person who wanted to cancel their policy with Sun Life after having it for just 2 years. They were told by their financial advisor that they shouldn't cancel their policy, even though they had the right to cancel. I found out that the financial advisor needed the person to keep the policy for at least 3 years to earn their commission. How greedy is that?
There’s a culture in the insurance industry that’s all about sales. I experienced this firsthand. I went to Bundusan CIMB Bank, which was closest to my house because I want to avoid going to KK which was always jam on a weekdays, just to update my card for the new "tap to pay" feature. It should have been a quick visit, but it turned into a nightmare. The bank employee saw that I had RM20k in my account, which my husband and I had worked hard to save, and asked me to meet with one of their financial advisors. She immediately tried to convince me to "upgrade" my Sun Life insurance. I told her I already had one, but she insisted it was necessary for "better benefits." She didn’t correct me or explain in detail that it was a different policy, so I ended up thinking it was my current policy because she used the word "upgrade" and not "getting another insurance."
I was kept there for over 2 hours, just to "upgrade" my policy. But did have my suspicion about why I was asked to pay another RM3000 to upgrade my current policy so in total I paid RM6000 on the spot using my daughter's savings. After everything was done and we said our farewells, I decided to check the Sun Life app for this "upgraded" policy and was shocked to find that I was being charged for 2 policies! TWO! I couldn’t believe it. This employee, whom I foolishly had trusted with something as simple as updating my card, was now draining my hard-earned money. Instead of paying RM3000 in a year now I have to pay RM6000 in a year for two policies! She had tricked me into getting a second insurance policy, purely for her commission. I realized I had been tricked again, and yes, I’m naive—say what you want about me. When I realized what had happened, I went to my usual bank at KK near Suria Sabah, and luckily my financial advisor there canceled the extra policy under the free-look option. I felt a huge relief, but I lost RM3000 because of the opening fee. My financial advisor even said it was unnecessary to have another insurance policy when my old one was still ongoing and wondered why that employee is stupid enough to tricked me into doing it.
This kind of behavior is the reason I lost all trust in insurance. Insurance companies and their advisors treat their clients like cash cows, always looking for ways to make a quick sale, even if it means sacrificing integrity. It’s all about putting money in their pockets, not the well-being of the people who put their trust in the system. For me, it was a scam, plain and simple. And I’m not the only one. I’ve heard too many stories of people being taken advantage of by Sun Life, people who were loyal to their policies only to have them fail when they needed them most.
I’m done with all of that. Because of this stupid insurance, I made the decision to cancel my policy, even though I lost half my money due to the cancellation/surrender fee. It’s best I just canceled it anyway because I don’t want to constantly stress and be loyal to a company that only steals. I don’t need insurance like this in my life, and I certainly don’t need an industry that uses guilt and manipulation to get people to keep paying.
Now, my focus is on my daughter’s future. I want to teach her the financial lessons I’ve learned, even if it’s a slow process. I won’t expect much from her at this age, but I’ll continue to remind her about the importance of managing money, saving, and planning for the future. Things are only going to get more expensive, and I want her to be prepared when she grows up. I’ll do whatever I can to make sure she’s set up for success. And if she needs help, I’ll be there for her.
Lastly, if you get a call saying they're from a certain insurance. Just hang up and blocked.