Cocolife – Scam?

I really wanted to share my experience with Cocolife agents. I think this would help plenty of people here in the Philippines. I was in Glorietta when this incident happened. Let me first give you a brief description as to what is Cocolife.

What is Cocolife? (Based from the agent)

This is a health care insurance built first to help Coco lumbers. This company is associated with UCPB (United Coconut Planters Bank) and also SMB (San Miguel Brewery Corp.). The agent also cited several well-known corporations which are currently offers insurance to their employees : Pepsi, Convergys.

So here’s what happened..

Just I was about to go to Greenbelt to meet my friends, I accidentally by Cocolife and there were 3 agents scattered outside the store. One of the agents approached me. Of course, automatically, what I’ll do is to walk faster away from them. BUT, one of the agents tried to block my way, and the other one, was asking me to listen first. Okay, so I allowed myself to listen to them.

Agent 1: Hi, Ma’am. We’re currently having a promo. This is just free and no need to pay for anything. You’ll just have to fill-up this coupon to have a chance to win in our free trip to Malaysia. But first, are you already working? and do you have a credit card? Are you the primary holder of the credit card? and can we see it?

*How stupid of me to say yes, and to show them my cards*

Me: Okay, give me your pen.


After filling up the coupon, I’m already ready to leave. But I didn’t expect that the two agents will stop me AGAIN.

Agent 2: Please listen first ma’am. He needs to have a quota so that he can already go home.

Agent 1: Yes ma’am, please. You’ll be the one to complete my quota. All you have to do is to go inside and we will give you a free bag.

Me: Huh? I thought I only need to fill up this form? I have another commitments to attend to.

Agent 1: You will only need to fill up another form inside. Just so they will have a proof that I have let you signed the coupon. Then after which, you’ll be able to get your free bag.

Me: Okay.  *Goes inside (Im stupid. Ugh)*

Then there’s so many agents inside. I was told that I would need to attend a presentation. Of course, I’m shocked as they didn’t say anything about the presentation when I entered. I was arguing with them because I really needed to leave. But since, I guess I’m a nice person (ugh, I shouldn’t be), I attended the presentation.

To summarize the presentation, the agent will only talk and try to convince you to sign up for their insurance. I asked him if I can get the paper which he used to discuss the cocolife. However, he said that my request is not possible. I forgot to add, during the conversation, I keep on  blocking he’s thought because I’m having a feeling that he’s trying to get me swipe my credit card.

Here are the things he said that alerted me.

  1. “Cocolife is not an insurance, it’s like a piggy bank”. You’ll have to pay them monthly, and there will be an interest. Then after 10 yrs, you can withdraw all your payments with an additional 10% of the total amount. And after 10 yrs, there will be a lifetime insurance from them.  ***** where in Earth can you find a company that will give money? As what the sales agent said, they are not dealing with stocks. Soooo, where can they get such huge money?***
  2.  “Policy.” ***The policy was provided without even checking my health status.***
  3. “No requirements needed.” All you have to do is to hand them your credit card. ***They don’t even required a valid ID, birth certificate, a proof of billing***
  4. Then the agent asked me Im going to sign up, it’s only a day promo. I said, I would need to think about it first and I will have to do some researches about your company. And the agent said “Basing from SMC, don’t you think that we aren’t credible?” ***Here’s what I answered: No. because SMC and Cocolife are not the same entity. I dont care whether the owner of SMC and Cocolife is the same. I need to think about it first and need to do some researches just to be sure that my money won’t put to waste.
  5. The agent showed me 3 ways to pay the insurance, Annually (18k+), Semi-Annual (9k+) and Quarterly (5k+). The agent asked me , if ever, what would I choose? ***Ofcourse, I’m thrifty, I answered 5k. The agent told me, why not choose the 18k? I I said, it’s too expensive, how can I budget my money if you will ask me to pay 18k? If ever, I would like to get the quarterly installment basis. You wouldn’t imagine what he said next: USE YOUR CREDIT CARD. And you wouldn’t imagine how I reacted next, I said the following full of conviction: NO NO NO NO NO with head and hand actions! HELLO!! If you would want to help people, why would you force people to swip their cards?”.

Then after the No no no no, he escorted me out of the office (He was disrespectful from the way he escorted me out, he’s like burning mad. He didn’t even open the doors for me), they didn’t hand me the FREE BAG after they wasted my time. Aaaaand you know what? The agent who said that he already got his quota that he can already go home because of me, was staying outside and looking for his next victim.

Here’s what I thought:

  1. I guess, the reason why their place has a loud sound, (Yes, you will have to shout to hear the one who discusses cocolife with you), so that other people in other tables won’t hear your objections.
  2. The reason why they were checking if you have your credit card with you, is for them to ask you to swipe your card at the end of the stupid presentation.
  3. They are opportunist. Big time opportunist!!
  4. They will do all their best to get you inside their office.
  5. Yes, they were not asking for any payments for their promo, however, they are targeting your credit card.
  6. I have an existing insurance, but my current insurance allows me to pay my insurance in CASH.
  7. SCAMMERS!!!!!  – Review the credit card incident, and the moment when they didn’t allow me to do some research first.


When I got home, I immediately searched for Cocolife. I’ve read several bad reviews. I’ve also consulted my friends, and they also got a bad reviews about the company. *GOOD THING!*

People, please be aware. Always use your mind before you swipe your card.  And before signing up to any corporation promos / insurances, always, always research first.



  1. I also experienced that today here in SM Baguio. I was about to go home. And I was approached by Freshy(agent) and said ma’am you have a chance to win a trip for 4 in Singapore, just tell me your name , contact number & address. so I dictated it to her. I thought that would be the end but then she invited me to their office inside the mall. She asked me if I’m willing to stay for the orientation for 45 mins.. I said ok then I entered the room with several chairs and tables. I thought this would be a by batch orientation but then it is a one on one presentation so one agent per one person. Freshy is now out of the picture. Kirk(another agent) is there to talk to me. Ok I’ve listened to the presentation and asked questions along the way. In the end, he presented me tabular computation of the Future Savings Plan Platinum. For the 1st year, I will pay 21,000.00 and it will depend on me if how will I pay the next years.. He wanted me to swipe my credit card for the 21k.. I asked him if it’s required to sign the policy. He said no. I said for now I don’t like to add additional cash outflow.. I said this is a long term commitment – 10 years and I only have to decide for 1 day? I said I’m not willing to swipe my credit card for this. Good thing I did not bring my ATM. They will exhaust any other means for you to pay. So beware. So I rejected the Insurance Policy(savings kuno) but then they offered me another one, the Think About It Program(TAP) wherein in you will pay Php5/day totalling Php 4,000.00 with 1,000,000.00 insurance coverage. But then I also rejected it and I said I have a meeting to attend to.. I already stand up but then they still want me to sit down because here comes the manager convincing me to sign.. But then I’m on a hurry gesture already so they have no choice but to let me go.
    1. It’s okay to listen but we are not required to sign/accept the insurance policy right away. If you say no, they will do more sales talking but stick to your decision.
    2. Do not share your Credit Card number.
    3. I have been presented by several agents from different insurance companies and they gave me time to think for a week or a month. Decisions like this should not be on the spot.

    I have shared it to my coworker and she said cocolife has so many bad reviews.

    Liked by 1 person

    • Wow. Good thing! Agreed with all your statements. I still don’t know how they’re able to have a space in a mall when all they have is a bad review.

      Well, I guess all we have to do is to be cautious, and don’t let everything get into us easily. And before we agree to anything, specially if there’s a money involve, we have to think about it really carefully.


  2. Stupid of me, I was a also a victim of this cocolife scam last year ar SM Baguio…luckily I was able to cancel my subscription and charged back the amount debited from my card. A lesson learned but still its a waste of time, effort and money in processing the cancellation. Please do not entertain those who are at the malls asking anything from you. They look nice but they arw scammers.


  3. They wanted me to swipe my cc as well! They weren’t able to get the account number thankfully. I didn’t like how they kept pressuring you to let them swipe it and just cancel later. I was asking the process for that but the agent could not answer me.


  4. This was also done to me earlier. I found it sketchy that they did not want to give you time to think about the offer. Why is it only a 1 day promo? My problem is that they have my details. Is there a way to get this back? I should have asked to ripped it.


    • Just to add since I’m really scared and upset, did they actually use any of the personal
      Info you have against you? Budol budol operations?


      • Same as yours. I was able to fill up the form, and wasn’t able to retrieve it. Where you able to provide your cc details? From what happened to me, they were targeting my cc details.


  5. Same situation happened to me, at Robinson’s Galeria, Cocolife agents were so overly friendly, pleaded and convincingly persuasive, luckily they couldn’t get money out of my credit card by simply swiping it needs pin input too, thank goodness for some card efficiency.

    Liked by 1 person

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