Sun Life of Canada (Philippines) Inc. launched Sun Legacy, a limited-pay whole-life insurance product with a savings component that offers guaranteed cash value and lifetime guaranteed cash benefits.
Sun Legacy offers one, two or five annual payment options. The guaranteed cash benefit is equal to 2.15 percent or 2.25 percent of the total premiums paid, depending on the plan amount chosen. It will be given annually, beginning a year after the end of the premium-paying period, and will continue until age 100.
Clients may choose to accumulate guaranteed cash benefits and earn non-guaranteed dividends from the policy as well.
“Sun Legacy allows clients to build on their savings sooner, as it provides the lifetime cash benefits earlier and more frequently,” said Sun Life of Canada (Philippines) president Alex Narciso. “It can help provide an alternative source of income or help preserve clients’ accumulated wealth.”
Clients can also secure the future of their loved ones through Sun Legacy’s life insurance protection feature, which is equivalent to 125 percent of the total premiums paid.
“The Sun Legacy is perfect for clients looking for a straightforward product that provides a more efficient estate plan for the next generation,” Narciso said. “It can play a big part in ensuring a brighter future for our loved ones.”