Sun Life Financial Guide and Quotes

Sunlife

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SunLife of Canada Philippines

Sun Life, or officially called Sun Life of Canada (Philippines), is a financial services company that specializes in life insurance. 

Life insurance primarily insures the life of a person, so that when death comes, the surviving family will have benefits to help them go on through life. 

Sun Life offers add-ons on top of the basic life insurance. You can add daily hospital income reimbursement, critical illness protection, fund growth / investment, body dismemberment benefit, accidental death benefit and more. 

Sun Life can also be availed as a group such as Family Insurance or Company Insurance.

I am a Financial Advisor licensed by Sun Life to distribute their products and services.

Fundamentally, Sun Life offers life insurance. It means that once you sign up, your life is insured with a certain face amount which is guaranteed upon death.

History

History of Sunlife

It was in 1895 when Sun Life began its operations in the Philippines, three years before the Philippines became an official republic. 

In that year, Sun Life Financial introduced life insurance in the Philippines. With prudence, resilience, and commitment, the company has survived two world wars and dauntless economic crisis. This makes Sun Life Financial-Philippines (SLFP) not only the first but also the longest-standing life insurance company in the country.

Sun Life went through two world wars – World War 1, World War 2, as well as EDSA Revolution- but still maintained its commitment to Filipinos. Sun Life even went out and searched for the families of the victims of world war.

As of 2019, Sun Life has been existing in the Philippines for 124 years already and still remains on its mission to bring Filipinos the humanitarian benefits of life insurance.

History of Trust

During World War II, SLFP suspended its business operations following the invasion of Japanese forces. However, it continued to run underground operations. Immediately
after the war ended, the company paid out the equivalent of USD 1.2 million in death
claims. Sun Life was the only insurance company who, based solely on trust and confidence, paid death claims even without documents attesting their validity.

Performance

performance of sunlife

Sunlife is the top 1 Life Insurance company in the Philippines for 2019 (also 2018). See the Insurance Commisiso of the Ph government reports.

#1 Based on Premium Income (Year 2017)
Based from the official statistics of the Insurance Commission, the number 1 insurance company of 2017 based on premium income is Sun Life of Canada (Philippines). SunLife is also the #1 in premium income last 2016 and 2015 and 2014.

Premium income means the Revenue generated by a Life Insurance Company from the total premium it charges on its policies.

#1 Based on Net Income of year 2017 and many more.
Sun Life is also the #1 insurance company based on Net Income: Total revenues minus total expenses. Sun Life performs well on many other ranking factors.

 

In other words, Sun Life is a reliable company when it comes to trusting with your hard-earned money.

Legacy of Excellence

Today, Sun Life in the Philippines is a diversified financial services institution now offering: Life Insurance managed and distributed by Sun Life of Canada (Philippines),
Inc. (SLOCPI) and its joint venture with the Yuchengco group Sun Life Grepa Financial, Inc. (SLGFI); Mutual Funds managed and distributed by Sun Life Asset Management Company, Inc. (SLAMCI); and Education and Retirement Plans administered by Sun Life Financial Plans, Inc. (SLFPI). 

The company is backed by over 1,000 employees; over 15,000 financial advisors; 66 new business offices; 45 inter-branch sales offices, and 76 client centers/financial stores nationwide. The company has over 5 million clients to date. 

In 2017, SLOCPI ranked as the number one life insurance company in the country in
terms of total premiums, amounting to over P32 Billion. This is the seventh consecutive year that the company topped the industry in premium income.

Benefits

MAIN BENEFIT OF SUNLIFE

Life Insurance is the main purpose of Sun Life. We give protection to families by insuring the life of a person especially the breadwinner.

How can you benefit?

  • Dreams won’t die. When death comes to the breadwinner, Sun Life gives its promised amount (called as Face Amount) to the family so that their dreams won’t pass away away as well. It can be used to support the young children.

    This gives peace of mind to the family against the “what if’s” of life. Of course only the Lord appoints the time for our deaths, but God’s will for us is also to be good stewards.

  • Assistance to Spouse. When an untimely death comes to a spouse, the surviving spouse will have somehow at least financial relief that will come along side the burdens of raising a young family.

  • Assistance to Children of Financially Dependent Parents. If your parents are dependent or senior citizens, time may come that they need your support. When an unwanted death comes, aging parents will have a hard time without your life insurance.

  • Credit Protection. If you have creditors / burrowers, Sun Life could give you peace of mind in case untimely death comes to your burrowers.

  • Legacy. You can allocate funds to your chosen charity so that you can leave an impact for a worthwhile cause and give more meaning to life.

Sun Life Products

Senior Citizen Care

Sun Fit and Well

Critical Illness

Sun Life VUL Variants (Regular Premium)

Variants of Sun Life VUL

MORE BENEFITS OF SUNLIFE

Benefits of SunLife
10 reasons to buy life insurance

Although the main “bread and butter” offering of Sun LIfe is life insurance, the following benefits can also be added on top of the basic life insurance.

supplementary benefits

  • Total Disability Benefit (TDB) – when the insured becomes totally and permanently disabled (unable to work), all premiums will be waived.
  • Accidental Death Benefit (ADB) – additional benefit when the insured dies by accident.
  • Accidental Death, Disability and Dismemberment (ADDD) – in addition to accidental death or disability, the insured gets benefit whenever a part of his body is dismembered.

Living Benefits

Below are the benefits that the insured can enjoy while living, and not just as death benefit.

  • Investment – Grow your money while getting insured. We can design allocation for retirement, child’s education, house or travel.Rather than putting your extra money on savings account at the bank (note: we do not discourage saving for Emergency Funds), but the money that you won’t need anyway would have higher probability to grow better if you consider investing it.
    • Maxilink -Payable within 10 or 5 years)
    • Flexilink – Flexible payments
Historical Sun Life Investment Growth
Putting your money on Investment, generally gives you better return rates compared to banks.

Related: Get a FREE insurance with investment proposal (VUL) by answering this form.

  • Critical Illness Benefit – get the face amount or a percentage of it whenever you get diagnosed with one of the listed critical illness.

    Use the money for recovery and you have more time to focus on healing rather than on where to get the money.
     
    • CIB Rider (36 illnesses) – a rider or add-on to VUL (Investment with insurance)
    • Sun Fit and Well (114 illnesses) – a new generation health insurance under the traditional insurance category
    • Female Critical Illnesses – a special rider that covers female clients
  • Hospital Income Benefit – Daily Hospital Reimbursement when the insured is admitted for any reason.
  • get a free quotation

    Ready to take a step to financial progress? Contact me to get a free quotation.

    Meet me

    See our SunLife Bacolod Office here.

    If you are in Bacolod City, we can meet at our new office in corner Lacson and 20th streets, near Starbucks and Bar 21.

    Or we could meet at any cafe of your choice.

    Global Reach

    Sun Life Financial is a leading international financial services organization providing
    insurance, wealth and asset management solutions to individual and corporate Clients.
    Sun Life Financial has operations in a number of markets worldwide, including Canada, the United States, the United Kingdom, Ireland, Hong Kong, the Philippines, Japan, Indonesia, India, China, Australia, Singapore, Vietnam, Malaysia and Bermuda. As of December 31, 2018, Sun Life Financial had total assets under management of $951 billion. 

    For more information please visit www.sunlife.com. Sun Life Financial Inc. trades on the Toronto (TSX), New York (NYSE) and Philippine (PSE) stock exchanges under the ticker symbol SLF.

    Sun Life provides financial solutions to various needs such as income continuation, education, retirement, health, and wealth accumulation.

    What is Sun First Aid Plus?

    Sun First Aid Plus is a daily hospital reimbursement product maturing at the end of 10 years with the following benefits:

    • Hospital Benefits*:
      • Daily Hospital Income starting from the date the life insured is hospitalized, subject to the policy’s waiting period and maximum limits. 
      • Long-term Hospital Income
      • ICU Income
      • Surgical Expense Benefit
    • Protection Benefits are as follows:
      • Life Insurance Coverage which is equal to the total of original annual premiums* paid decreased by advances with interest. 
      • Accidental Death Benefit. 
    • Return of Premiums equal to 50% (or 70%) of the original annual premiums.

    *Subjuct to conditions, maximum terms and caveats.

    Benefits

    Once the life insured is confined as an in-patient in a Hospital as a result of Injury or Sickness, on the recommendation of a Physician, Sun First Aid Plus provides the following hospitalization benefits*:

    • Daily Hospital Income
    • Long-Term Hospital Income
    • Intensive Care Unit Benefit
    • Surgical Expense Benefits

    *Subject to conditions, waiting period and maximum limits as per proposal reference.

    Sun First Aid Lets Your Enjoy:

    • Hospitalization Benefits – worry less about costly hospital bills due to confinement, surgery, long-term hospitalization, or ICU.
    • Guaranteed Cash Value – depending on the plan chosen, you will receive a reimbursement depending on the number of day you were hospitalized.
    • Protection Benefits- get income replacement for your family equal to the total annual premiums paid. It becomes double if death by accident.
    • Money-Back Feature – With the plan’s “money-back feature”, you get 50% of the total premiums paid on your policy’s 10th anniversary if the Insured outlives the protection period.
    • Hassle-Free Application – Speeds up the application process through its Simplified Issue Offer, subject to the limits of Sun Life.

    For more details, simply contact me to request for proposal.

    You can also see the Sun First Aid details at Sun Life’s official website.

    Ways to Pay SunLife Insurance Policy

    In this blog, I log ways to pay SunLife policy. I am a Sunlife policy holder and advisor and I always encounter questions on where or how to pay their Sunlife policy. 

    If you’re abroad, no problem. Paying SunLife online is easy. 

    Arrangements During Community Quarantine

    For your reference, you may avail of our payment facilities as follows:

    1. My Sun Life Client Portal and Mobile App

    If client have a My Sun Life Client Account, you may settle premium dues using Visa or Mastercard credit card.

    2. Payment Online

    If client is an account holder of Banco De Oro (BDO), Bank of the Philippine Islands (BPI), RCBC, Security Bank, Union Bank, or Metrobank, you may settle premium via these banks’ online Bills Payment facilities. To enroll to these, please use the following merchant name in the following banks:

    • BDO Sun Life of Canada (Phils.) Inc.
    • BPI Sun Life of Canada (Phils.) Inc. (SUNLIF)
    • RCBC Sun Life of Canada (Phils.) Inc.
    • Security Bank Sun Life of Canada (Phils.) Inc.
    • Union Bank Sun Life of Canada (Phils.) Inc.
    • Metrobank Sun Life of Canada – Peso

     

    Reference Number: Policy number

    Once successfully enrolled, you may already start paying premiums through the Internet.

    3. PayMaya – Log in to Paymaya account and tap Pay Bill. Choose Sun Life of Canada as the biller name and fill in the policy number as account number.

    4. Smart Money – Use Smart Money account via SMS and use the biller code of Sun Life of Canada (Philippines) Inc.’s for traditional and VUL policies: 02020.

    5. GCASH – Log in to GCash account and tap Pay Bills. Select biller name Sun Life of Canada Phils and the policy number as account number.

    Please be advised that for payments remitted through our partner banks and payment channels, posting is within 2-3 banking days from your payment date.

    Should you have further inquiries and concerns, please continue to email us at [email protected]

    By BPI Online or App

    BPI is a big bank in the Philippines with many branches and robust online system. I like its app and website when it upgraded – it’s fast, secure (performs an SMS confirmation) and intuitive. You can pay using BPI online website or BPI app.

    BPI Express Online Website

    To pay online, go to https://online.bpi.com.ph/ and login. Then go to “Payments/Load” at the left side. Select “Pay from”, “Amount to Pay”,  “Pay to” and determine the “Frequency”. 

    Select “Now” in the frequency if you opt to pay once. Select Monthly, Quarterly if you want recurring payments.

    Pay Sunlife thru BPI

    Registration. If you haven’t registered your SunLife policy yet, see the left side. Go to Other Services > Recipients / Manage Recipients > Add New Recipient > Under recipient, select “Billers” > Under Biller, look for “Sunlife of Canada” > Under Reference Number, enter your policy number. See your Sunlife Policy or Ask for Financial Advisor if you don’t know yet.

    Using BPI App

    You can pay SunLife at the convenience of your handy phone. Just download the latest BPI App for Android or iOS.

    Login to your BPI App > Select the Account you wish to pay from > Select Pay Bill > Enter Amount to Pay > Select SunLife with your corresponding Policy Number. Click Next until you receive an SMS code for confirmation.

    By Calling BPI Express Phone

    Enroll your policies under “BPI Express Phone”. To pay, dial 89-100 (Telephone) or 02-89-100-0 for mobile phone users. Simply follow the step by step instructions.

    By GCash

    Gcash is a leading mobile payments solution in the Philippines. Even if you’re abroad, you can easily use it to enjoy payments of your Sunlife policy and investments.

    Download GCash App > Login > Pay Bills > HealthCare > Sun Life of Canada Phils > Enter Amount, Policy Number and Email (to receive the confirmation). Make sure you have cashed-in to your GCash for sufficient balance.

    You can also register to GCash by sending an SMS to 2882 in the following format:

    • REG(4-digit MPIN)/(Mother’s Maiden Name)/(First Name)/(Last Name)/(Address)/(Phone No.)

    You can also pay by sending an SMS to 2882 in the following format:

    • BILLPAY<space>(Amount)<space>(MPIN)<space>SUNLIFE-LIFE<space>(Policy Number)

     

    by Walk-in Deposit in Collecting Banks

    • BDO
    • BPI
    • PNB
    • RCBC
    • Security Bank

    Fill-out the Bills Collection Slip and accomplish the required information.

    • Company Name: Sun Life of Canada (Philippines), Inc.
    • Policy Owner’s Name
    • Policy Number

    Auto-Debit or Auto-Credit Arrangement

    If you have a BPI or BDO Account, you can enroll your SunLife policy for Auto-Debit Arrangement.

    At your due date, the bank will charge the selected amount from your savings account. Make sure you have sufficient funds by the time of charging.

    Download: BPI Auto-Debit Form | BDO Auto-Debit Form

    Auto-Credit Arrangement is available for Mastercard and VISA credit card holders. The payments can be made for both VUL and Traditional Policies.

    Download: Visa/Mastercard Auto-Credit Enrolment Form

    By Sending A Check

    If you’d like to pay through check, use your premium notice which can be found in your online portal. Pay to your Sunlife Policy by sending a check to the address below. 

    Premium Notice Sunlife

    Through A SunLife Philippines Advisor

    Pay through one of SunLife Philippines Advisors. Make sure to ask for a PR (Provisional Receipt). 

    Related: VUL Insurance

    VUL Variable Universal Unit Linked Life Insurance

    Variable Unit-Linked Life Insurance

    • What is VUL?
    • Benefits of VUL
    • SunLife VUL
    • VUL Pros and Cons
    • VUL vs Term Insurance
    • Variable Universal Life Insurance Calculator

    LIFE INSURANCE IN THE PHILIPPINES​

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