MANILA, Philippines - Sun Life of Canada (Philippines) Inc. is offering several product options for those who would like to grow their money including clients who have Special Deposit Accounts (SDAs) which are currently affected by the latest Bangko Sentral ng Pilipinas (BSP) Memorandum M-2013-0021.
BSP’s new guideline states that individuals are no longer allowed to make direct placements in SDAs by Nov. 30 this year. SDA’s can now only be accessed through participation in pooled funds of Trust Departments of banks.
“We hope that those looking for a viable alternative to SDAs would consider investing with Sun Life as our products can provide the same – if not better – earning potential,†said Sun Life chief marketing officer Mylene Lopa.
“Sun Life is a company that has vast investment experience, reliable research capabilities, and has proven its long-standing commitment to clients having been in the Philippines for over a century,†she said.
The product options available include the Variable Unit-Linked (VUL) life insurance products and Sun Life Prosperity Funds.
The VUL products that clients can explore include the Sun FlexiLink, Sun MaxiLink One, Sun MaxiLink Prime, and Sun MaxiLink Bright – under which clients can invest in Bond / Income Fund, Balanced/Opportunity Fund, and the Equity/Growth Fund. These funds offer higher earning potential and provide clients the freedom to diversify investments depending on their investment goals and inclinations.
Clients can apply for VUL products such as the Sun MaxiLink One for as low as P250,000. This product has shown higher historical returns than SDAs. For example, the 2013 year-to-date returns show that Sun MaxiLink One’s Peso Income Fund marked a return of 17 percent.
Meanwhile, there are seven mutual fund options to choose from under the Sun Life Prosperity Funds which are managed by Sun Life Asset Management CompanyInc. (SLAMCI): Philippine Equity Fund, Balanced Fund, Bond Fund, Dollar Abundance, Dollar Advantage, GS, and Money Market. The Prosperity Funds’ gross sales reached P26.2 billion as at end of July 2013.