MBLIFE (Manila Bankers) Scam – What’s the Truth?

MBLIFE (Manila Bankers) Scam – What’s the Truth? | You might have heard the story, then again, you might not. But this is one of the reasons why many Filipinos are hesitant to invest in life insurance even now, in 2019.

MBLIFE – also known as the Manila Bankers Life Insurance Association – has been in the insurance industry for over 50 years. Over its extensive history, it too has faced its fair share of complaints and controversies.

Let us fill you in on the details about the story, in case you have not yet heard it..

The story

A few years back, in the year 2013, MBLIFE personnel who were in charge of getting the payments of potential investors and clients allegedly did something that would cause a cloud of doubt to be cast over the MB LIFE Insurance Association.

The complaints that have been aired online tell the story of how the personnel of MBLIFE was able to somehow convince new clients that they needed to have their credit card or ATM card information as part of the initial verification process to be able to get an insurance policy.

The first-hand stories told by members said that their accounts were charged without their knowledge. They said they were victims of a money scam.

That is the story. What should you believe?

If you are thinking of investing your money in life insurance, this kind of story is one that might discourage you. But then since the news of the incident has become public, MBLIFE has been working hard to redeem themselves, even in light of the controversy.

Social media has yet again given people to give their opinions about this issue. There have been mixed reactions that have been seen online. Some angry clients were victims of the incident, and on the other hand, MBLIFE also has many satisfied clients. The choice is really up to you to choose where you stand. However, the released information about the “Manila Bankers Life scam” does not seem to discourage the already satisfied long-time clients of the company.

This information stop you from getting a life insurance policy

Whether or not you choose to believe the story, it should not stop you from investing in a life insurance policy. There are many reasons why we should still trust Manila Bankers Life and its products. We will share with you why we think so.

MBLIFE is registered under the Philippine Insurance Commission

You can’t get more legit than this. Manila Bankers Life products would have to comply with the rules and standards set by the Philippine Insurance Commission. This means that the Commission has checked and re-checked the policies offered by MBLIFE and is compliant with all the regulations. If the Philippine Insurance Commission trusts them, we should too.

MBLIFE has an office and a customer care center

Handling customer complaints is never easy, especially for a company that is trying to defend itself from allegations that select employees did in the past. Having a customer care office means that the company values its clients, and it wants to make sure that everyone is satisfied with their services. 

The actions of some employees do not reflect the company

The company does not have a policy that requires people to give their personal ATM’s before they are allowed to invest in insurance, and clearly, this incident was planned and put into action by individuals working for their gain, and not on the company’s orders.

It is natural for doubters to be born after hearing this story, however, MBLIFE is not hiding any information from the public. Instead, it is trying its best to still provide quality insurance policies to make clients new and old happy with their products and services.