Beware of Cocolife plan scam being offered at SM Malls

More people victimized by Cocolife plan scam at SM Mall ~ Have you ever encountered those persistent Cocolife Plan agents at SM Supermalls? Beware! Because a lot of people are reporting that it was a scam and they got evidence about it. A Facebook post went viral today with the complete story and apparently it was already reported to BDO and Cocolife itself. Check out the story below.

More people victimized by Cocolife plan scam at SM Malls

Viral facebook post about Cocolife agents at SM malls


The Cocolife agents scam

It is not clear yet how these Cocolife agents do their modus because of the fact that they won’t allow anyone but the victim on the room where they initiate the scam.


More people victimized by Cocolife plan scam at SM Malls

Cocolife Plan scam: Isolate the victim from the companion


What is clear now is that once victims get out of that room they will be out of their minds not remembering anything. With them is a withdrawal slip amounting up to  50,000 that’s a big amount even for a Call center employee like me. What else if it was the life savings of a minimum wage earner?



The companies involved in the Cocolife scam

Now here’s the big deal that we need to remember here. Why the hell are SM Supermalls allowing this kind of people in their premises? And what other companies are being dragged in to this scam? Here’s what I found out.

Last June 23, 2017 Inquirer Business reports that BDO was interested for controlling stake in UPCB owner of Cocolife Insurance. So basically to make that plan more fruitful their allowing Cocolife to have more customer at the expense of marketing it on SM malls.

There’s also the AMA Education System, as being the primary offer in the said scam. According to some comments on the post that offer was said to be a educational plan that equates to 50% discount on any course or degree in AMA colleges and university.

More people victimized by Cocolife plan scam at SM Malls

Cocolife and AMA educational Plan alleged scam


But why are these big names allowing their name to be used in such a criminal act? Are they intentionally recruiting people who not only good in sales but a “budol-budol” as well? This modus need to be stopped so we are calling out this companies to explain their side!



How to prevent from being victimized?

It’s plain and simple do not ever entertain these scumbags. Clearly the budol-budol gang of tomorrow have now infiltrated the fair and legal Sales industry of today. They are now dressed up like professionals looking smart with their suits and tie but with a legit product as concealing their criminal acts they are even more dangerous. If you are really interested about these things ask for a brochure to know the complete details. Then search about reviews online to get a word from customers themselves. If you noticed anything like these scams do not hesitate to email us at so we can write a story about it.

Read: How to get Post-dated checks in BPI Updated Guide


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