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5 Financial Must-Haves of OFWs and their Families

Financial freedom for Filipinos working abroad means securing their own future while taking care of their loved ones. But where do you begin?

Creating a financial plan is key. With a trusted partner like Sun Life, this plan should embrace the dreams, needs, and lifestyle of Overseas Filipinos (OFs) and their families. It can also help you be Home For Good™, wherever you may be in the world.

A bright financial plan consists of solutions that create a strong financial foundation both for the OFs and their families. Based on the list below, how many have you secured?

Emergency Funds: Easily accessible, better returns

OFs worry about sudden and short-term expenses, especially during periods of unemployment. Build your Emergency Funds by setting aside at least 10% to 20% of their salary is critical.

Recommendation: Keep your Emergency Fund in an accessible instrument that also provides better returns than traditional savings accounts. Check out OFW Health Protect and Sun Life Prosperity Funds, such as:

Conservative funds

Life Insurance: For income continuation and protection

As breadwinners, OFs provide the lifeblood of their families. In case of sickness or untimely death, life insurance can provide funds to help you and your loved ones keep afloat.

Recommendation: Whenever you off-board or visit home, secure the future with a life insurance plan. Check out:

Income continuation

Health insurance: A new form of wealth

Medical and hospitalization costs are on the rise. Critical illness can have a huge impact on your finances. Look for solutions like health insurance for the whole family that can give funds in case your or a family member gets sick.

Recommendation: While health benefits from employers abroad may seem sufficient, ensure that you and your family have ample health coverage back home with:

Health insurance

Life milestones: living benefits from insurance and investment

Whether to buy your dream house or fund your kid’s education, adding insurance and investment to your portfolio brings you closer to your goals.

Recommendation: Know more about savings and life insurance plans such as:

Preparing for life milestones

Retirement: Your Home For Good™ goal

Start building your dream retirement with Sun Life through:

Retirement

Become an Advisor

You can also explore a rewarding career with Sun Life should you wish to continue to help your fellow OFs and their families be financially prepared.

 

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