MANILA, Philippines – Sun Life Financial-Philippines (SLFP) has launched Sun MaxiLink Prime, a variable universal life (VUL) product, which provides life insurance protection of 200 percent of the face amount plus the fund value of the policy.
“An interesting feature of this product is it gives the policyholder a choice to invest a portion of his premiums in five potentially high-yielding funds to grow his wealth and fund future needs such as retirement,” Gregory S. Martin, SLFP chief strategic marketing officer.
The fund choices include the bond, equity, balanced, money market fund and MyFuture funds. Essentially, the policy’s fund value, which includes premiums and investment earnings, can be the retirement fund.
Through Sun MaxiLink Prime’s lower premium and periodic charges compared to other similar products, more money gets invested into the investment funds. A larger amount of invested premiums means faster acceleration of the policy’s fund value, thus a greater opportunity for funds to grow.
“Policyholders would now have the chance to prepare for retirement for a shorter period of time or at least 10 years,” Martin enthused.
Easy premium payment facilities have been put in place to enable one to save regularly for retirement through this new product. Sun MaxiLink Prime provides clients the ease and convenience of paying premiums through monthly auto-debit arrangement.
Furthermore, Sun MaxiLink Prime also gives policyholders more assurance that their policies will remain in force during the first year through the extended grace period feature.
“With all these features in place, retirement is possible without having to put the burden on anyone else. You can now have the chance to prepare and look forward to the promise of a good, happy retirement, and enjoy the fruits of your labor sooner,” Martin concluded.
SLFP is a member of the Sun Life Financial group of companies, a leading international financial services organization providing a diverse range of wealth accumulation and protection products and services to individuals and corporate customers.