In a bid to help entrepreneurs amid the ongoing pandemic, Sun Life of Canada (Philippines), Inc. is launching new financial solution bundles that will allow them to sustain their businesses and fulfill their personal goals.
Dubbed Business owner Insurance Packages (BIP), the new offering has seven variants that cater to various needs, whether one’s business is in the start-up, growth, or maturity stage.
“We closely studied the impact of the pandemic on business owners to know how we can be of assistance to them. We found out that not many realize how life insurance can actually address the financial needs specific to their circumstances. Moreover, many still have the misconception that insurance and investments are expensive, all the more discouraging them from acquiring such instruments,” Sun Life marketing business support unit head Cary Casipit said. “We aim to address all these with BIP.”
Start-up business owners may avail the BIP Start-up Plans, such as the Emergency Fund + Lifetime Protection Plan, which is a combination of the Sun Life Prosperity Money Market Fund and SUN Smarter Life Classic; the Health Protection Plan, which offers SUN Fit and Well Advantage; or, for those looking to secure their children’s education, the Sun Dream Achiever life insurance plan. Premium rates start at PHP 4,000 a month.
Meanwhile, business owners who are in the growth stage may consider any of the BIP Growth Plans. It also has three types: SUN Safer Life insurance for Key Employee Protection; Sun MaxiLink Prime for Partner/Shareholder Protection; and SUN Smarter Life Elite for Retirement Fund. Premium rates start at PHP 5,000 a month.
As for those whose businesses are in the maturity stage, the Estate Protection Plan is recommended, as it offers SUN Smarter Life Classic which could help them preserve their wealth and ensure its smooth transfer to their loved ones. Premium rates start at PHP 6,000 a month.
To ensure that business owners will be ably guided in their financial journey, Sun Life has also initiated a training program for its advisors on how to serve this segment’s specific needs. The company also continuously conducts webinars and learning sessions for its clients who wish to gain insights and learn best practices from experts in various industries.
BIP is Sun Life’s latest initiative under its Ito ang Araw Mo campaign, which aims to encourage Filipinos to claim a new beginning in their journey towards a brighter future.
“Business owners were among those heavily affected by the pandemic, and we would like to help them find their way back to their goals,” Casipit said. “They significantly contribute to our country’s economy and by helping them cope with the situation and reach their full potential, we also help our country rise above the challenges we are facing today.”
Those who wish to know more about BIP may get in touch with their Sun Life advisor or connect with one via bit.ly/advisormatch. Updates will also be posted on @SunLifePH on Facebook, Twitter, and Instagram.