The thought of retirement typically spurs a fear of the future, especially with the anticipation of having no income during one’s golden years. But while many Filipinos consider retirement a high financial priority, only 14% are currently preparing for it, according to the Sun Life Asia Financial Resilience Index 2024.
“Planning for the future can be overwhelming, especially as Filipinos strive to meet the needs of the present. The good news is, more and more people are starting to recognize its importance. To leverage this, Sun Life was inspired to create a financial solution that will make financial planning for the future a more delightful experience,” Sun Life Philippines Chief Client Experience & Marketing Officer Carla Gonzalez-Chong said. “That is how our latest protection and savings plan, Sun Life Secure Income, was born.”
Sun Life Secure Income is a limited-pay whole life insurance product that provides life insurance coverage equal to 200% of the face amount from Day 1 of coverage until age 100. The plan also provides a Centenarian Bonus, where the insured will receive a portion of the life insurance benefit equal to 25% of the Face Amount on policy anniversaries following ages 80, 85, 90, and 95.
Moreover, Sun Life Secure Income gives clients guaranteed annual cash benefits equal to 6% of the face amount starting at the end of the 6th policy year up to the age of 100. This can serve as a regular stream of income throughout one’s lifetime.
“The regular guaranteed cash benefits would allow them to grow or preserve their wealth and enjoy it up to their retirement years to fund financial goals and milestones,” Gonzalez-Chong said. “Meanwhile, the life insurance coverage will give them peace of mind that their dreams for their loved ones will be realized no matter happens.”
For more information, visit sunlife.co/SunLifeSecureIncome. Those interested in availing of the Sun Life Secure Income may get in touch with a Sun Life advisor via www.sunlife.co/TalkTo-SunLifeAdvisor.
