Nowadays, safety is at the forefront of every Filipino’s mind. With thousands of people diagnosed with the coronavirus disease 2019 (COVID-19) in the country, and more being tested every day, one can never be too careful.
With the lifting of the enhanced community quarantine in some parts of the country, life is slowly returning to the Philippines. The struggle of resuming business as normal with the threat of the COVID-19 pandemic still out there is one that almost everyone faces. How can workers continue to be productive members of society while worrying about possible infection?
Recognizing these challenges, Sun Life Philippines launched its new Group Life Insurance Critical Illness Benefit Rider for companies who want to further protect their workers’ health and safety while securing their peace of mind.
Protection against health uncertainties
The Group Life Insurance Critical Illness Benefit Rider aims to provide a comprehensive protection against critical illness, acting as a supplementary benefit to the Sun Life Group Yearly Renewable Term Life base plan. It provides a guaranteed lump sum cash benefit upon first diagnosis of any of the 36 covered critical conditions, provided that such diagnosis happened 90 days after member’s coverage is in effect and is alive within 15 days from diagnosis.
This means that employees who suddenly get diagnosed with critical illnesses such as invasive cancer, stroke, or even disabilities such as total blindness and paralysis can expect their insurance provider to pay a fixed and lump sum cash benefit that they can use for their treatment, on top of any existing medical coverage.
For companies with existing medical coverage, the Group Critical Illness Benefit Rider can act as a second layer of protection, providing high amount of benefits yet budget-friendly.
Prioritizing employees’ health and safety
Not only can such protections create an atmosphere of safety and security in a workplace, it also enforces a strengthened idea of community between workers and management. The resulting improved company culture and strong company-worker relationship can then serve to retain talented workers as well as attract new ones.
“Health and safety are some of the main considerations that employees would be looking at today. Prioritizing health can help improve the partnership between the management and employees,” Sun Life Head for Sales Group Life & Employee Marketing Ging De Venecia said.
“Having this type of benefit can help create that peace of mind. There is a safety net. In the worst-case scenario, that protection benefit will be something that the families of the employee can use.”
For 125 years, Sun Life Philippines has been helping Filipinos achieve lifetime financial security and live healthier lives. For more details on Sun Life’s Group Life Insurance, you may check out the Group Life Insurance page or you may send inquires through email at GroupLife_Sales@sunlife.com.
This article was originally published in the BusinessWorld website on July 23, 2020.