Sun Life Pays Out PHP 1.6 Billion in Claims and Maturities For H1Sun Life of Canada (Philippines), Inc., the number one and longest standing life insurance company in the country, demonstrates its commitment to clients as it paid out claims and maturities amounting to Php 1.6 Billion in the first half of the year.
Of the said amount, Php 739 Million were in claims, while Php 909 Million were in maturities.
“Claims payment is the ultimate fulfillment of our obligation to our clients, and it is a duty we are honored to fulfill. We are thankful for our clients’ continued trust and support,” Sun Life President and Chief Agency Distribution Officer Alex Narciso said.
In 2016, Sun Life paid out a total of Php 1,363,110,907.80 for group and individual life insurance policies. The company prides itself in having one of the fastest, if not the fastest, turnaround times in the life insurance industry when it comes to paying claims. Sun Life can pay incontestable claims below Php 5 million within three hours upon submission of the pertinent documents. Claims are processed using the Workflow Management System (WMS), which allows for paper-less processing and cuts down turnaround time, provided all requirements are submitted and found to be in order.
With over 2.2 million clients to date, Sun Life aims to find more ways to serve Filipinos better. “We will never tire of improving our products and services in order to pursue our mission of providing our clients with lifetime financial security,” Narciso stressed. “Our clients certainly deserve no less.”