Sun Life’s guide to insurance for young adults
“Indi ka magsagad pa-garbo. Bilin ka man kwarta para sa bwas damlag mo,” some old folks would say in Hiligaynon, reminding not to let extravagance get in the way of saving for one’s future.
For young Ilonggo adults whohave several aspirations, planning for the future is not just about money; it’s about achieving one’s goals while having peace of mind.
Imagine having the freedom to pursue your passions, enjoy Iloilo’s vibrant social scene, visit its idyllic spots, and start a business, among others, without the constant worry of financial burdens. That’s the power of insurance.
As the old saying goes, “Insurance is like a parachute. You hope you never need it, but you’re awfully glad you have it when you do.”
Getting Started: Building a Financial Foundation
So, how does one get started? Building a strong financial foundation is key. Sun Life Philippines suggests that you can start by:
1. Understanding your spending habits and managing your expenses effectively.
2. Building an emergency fund to prepare for unexpected expenses, especially health emergencies.
3. Saving and investing for every life stage, including the future by using a variety of financial products.
Sun Life’s Top Picks for Insurance Newbies
Sun Life has five insurance options designed specifically for young adults like you. Here’s a rundown:
1. SUN Fit and Well
If you prioritize health because you see wellness as the key to living life to the fullest, this one’s for you. This plan keeps you healthy and financially secure. It offers:
• Critical illness coverage for 100+ critical conditions
• Life insurance protection up to age 100
• Special bonus and dividend earnings
2. Sun LifeAssure
This plan offers critical illness or life insurance coverage which provides financial security and peace of mind for yourself and your family. It offers:
• Critical illness coverage for 36 criticalconditions, providing a lump sum cash benefit upon diagnosis.
• Life insurance coverage or critical illness coverage
• Optional riders for additional protection against accidents and disability.
3. Sun First AidPlus
Unexpected hospital bills can be a real drag, and Sun First Aid Plusis your safety net. It offers:
• Hospitalization and life insurance benefits, with additional benefits for accidental death and total disability (waiverfor premiums)
• Money-back feature: Up to 75% of premiums returned when you outlive the protection period of 10 years
SUN Fit and Well, Sun LifeAssure, and Sun First Aid are ideal for: (1) achieving financial independence and taking control of your finances; (2) navigating life’s changes and putting family first; (3) planning for a comfortable retirement and maintaining good health; and (4) being ready in case medical emergencies happen.
4. Sun StartUp
Just getting started financially? This simple and affordable life insurance plan is a great stepping stone into the world of insurance. It offers:
• 10-year life insurance protection
• Money-back feature:Gives back a portion of your premiums if you outlive the 10-year coverage period
• Optional riders: Additional protection in case of untimely passing due to accident
Sun StartUp is ideal for those aiming for independence and handling their finances.
5. SUN Safer Life
This plan is ideal for those seeking maximum protection and affordability. It offers:
• Maximum coverage: Double the face amount at a low cost
• Longer protection: Automatic renewal every 5 years up to age 75
• Hassle-free: Conversion to any eligible life or investment-linked insurance product and various payment options
Sun Safer Life is ideal for those striving for self-sufficiency and protecting their loved one’s future.
Choosing the Perfect Fit
These are just a few ideas to get you started. Now, how do you decide which one is right for you? Here are some things to consider:
1. Your lifestyle, financial obligations, and family situation.
2. Your health, occupation, and living environment.
3. Premiums, coverage limits, deductibles, and exclusions.
Ready to Take the First Step?
No matter what option you choose, Sun Life is here to help you navigate the world of insurance and find the perfect fit. With a rich history in the Philippines (129 years!), Sun Life has established a strong foundation and trust as the Filipinos’ partner for life.
If you want to explore Sun Life’s other products, please visit www.sunlife.com.ph or talk to a Sun Life financial advisor.
To find a Sun Life financial advisor for guidance, visit www.sunlife.co/TalkToAnAdvisor.
You may also visit or call their branches in Iloilo City, as follows:
Iloilo Client Service Center
Paragon Square Building
Donato Pison Avenue, Brgy San Rafael
Mandurriao, Iloilo City, Iloilo
Tel No. (033) 328 7102, (033) 328 7103
Telephone No. (033) 328-7102 loc. 3524
Iloilo City Times Client Service Center
2/F City Times Square, Gaisano City Benigno S. Aquino Jr. Avenue, Mandurriao
Tel No. (033) 327-1055
Remember, insurance is not just a product; it’s an investment in your future.
