Press releases
Sun Life urges Filipinos to Start Up a stable future
The numbers are startling. Insurance penetration remains very low at 14%, leading to 90% of Filipinos who have little or no savings for their own families. Many remain uninformed and passive on how to manage their finances. Now, Sun Life Financial Philippines (SLFP) is changing the odds for every Filipino in pursuit of security and stability.Advocacy of It’s Time
There are three reasons behind the dismal figure of insurance and investment in the country: fear or lack of information about financial planning, difficulty understanding the concept of wealth management, and the general notion that insurance is only for the rich.
In its effort to change the prevailing mindset, Sun Life launches the first financial literacy advocacy in the country called “It’s Time!” Started in 2009, it encourages Filipinos to take an active role in fulfilling their dreams and securing their future. Lessons about financial protection are carried by
The roster of It’s Time advocates – Piolo Pascual, Pia Magalona, Bam Aquino, James Yap and his son Baby James – helps spread the message of financial protection and insurance. The advocacy adapts a multimedia approach, which includes financial lessons rendered in TV, Print, Billboard, Radio and Internet.
Start Up with the Sun
Another initiative to make insurance more accessible to Filipinos is the Sun StartUp, an affordable value-for-money product that can provide cost-effective financial protection.
For less than P500 every month, one can already enjoy insurance coverage that is effective for 10 years. Another benefit is the “money back feature” where the policyholder will receive a portion of premium paid after 10 years, given that he outlives the plan. Moreover, the policy can be enhanced with the accidental death benefit, where compensation can be increased in case of death by accident.
Strength of the Sun
SLFP has been fulfilling its commitment to Filipinos for 115 years, surviving two World Wars and the dark years of Martial Law. Today, the strength and stability of the company are proven by its resiliency during the recent global financial crisis. No bailout and no buyout were necessary because of the prudent handling of the money from policyholders.
“It’s Time! and Sun StartUp are testaments of our desire to make insurance and investment work for Filipinos. We are educating Filipinos on how to secure their family's future, while at the same time introducing products and services that cater to the broad C market segment.,” says SLF Philippines president and chief executive officer Riza Mantaring.
