After the successful runs of its limited-offer products, Sun Grepa Global Asset Builder (GAB) ProIncome and its peso counterpart, Sun Grepa Peso Asset Builder (PAB) ProIncome, Sun Life Grepa Financial, Inc. (Sun Life Grepa), one of the leading insurers in the country, is bringing both products back for a limited time to give its clients the opportunity to participate in global investments and receive regular income.

Both GAB and PAB are single-pay, life insurance products linked to structured investments that provide life insurance protection of at least 125% of the one-time premium payment for seven years, fixed annual payouts for seven years, return of the single payment at maturity, and are invested offshore allowing clients to further diversify their peso or US dollar assets.

“We are just happy to have these pockets of opportunity to reintroduce both Sun Grepa Global Asset Builder and Sun Grepa Peso Asset Builder together,” Sun Life Grepa President Richard S. Lim said. “This initiative marks our commitment to offering innovative financial solutions tailored to meet the diverse and evolving needs of our clients to help them protect their dreams and secure their futures.”

Interested clients in these products may also take advantage of convenient application and policy approval through the Guaranteed Insurability Offer, subject to the terms set by Sun Life Grepa.

For more information and to explore these limited time offerings, talk to a Sun Life Grepa Financial Advisor, visit your RCBC Branch of Account, or go to www.sunlifegrepa.com for details. 

The country’s life insurance industry is investing heavily on new technologies while nurturing partnerships to stay in the game.

That in a nutshell was the messages sent by Sun Life Grepa Financial Inc. (Sun Life Grepa) and key partners, such as Sun Life Philippines, at the celebration of the former’s 70th anniversary at the YSpace at Yuchengco Museum in Makati City last March 8.

Tackling trends and issues currently shaping the life insurance industry, the celebration called “A Journey to Brighter Futures” looked at how Sun Life Grepa serves Filipinos, and how its commitment to change and innovate can build a path to a lifetime of milestones. 

Sun Life Grepa board director Riza Mantaring said that insurance penetration in the Philippines remains below two percent due to the industry growing slower than the gross domestic product (GDP). Filipinos’ lack of appreciation around the value of life insurance also hampers the market penetration of life insurance policies.

“Filipinos don’t go out looking for insurance. They are more about being approached and convinced that life insurance is good for them,” she said.

Hence, changing client behaviors, legislation of law and enforcement of government institutions will shape and potentially accelerate industry growth.

In terms of innovations in the insurance industry, Sun Life Philippines CEO and Country Head Benedict Sison said “only the clients will determine which disruptions will be successful.”

Sun Life Grepa President Richard S. Lim highlighted how the joint venture company on its 70th year milestone looks forward to 2024 and beyond.

“We are continuing the dream of our founder Ambassador Alfonso Yuchengco to have life insurance for every Filipino family,” said Lim. “We want clients to have more access to Insurance; we want clients to make better choices for their protection needs; and we want them to be empowered to sustain their journey towards financial security and living healthier lives.  This is our goal as their partner beyond a lifetime.” 

He also shared more about Sun Life Grepa’s market-responsive products catering to very specific needs of different markets in areas that include health and wealth building. “We also seek to make it easier for people to access affordable life and health insurance coverage through strategic partnerships. In this way, we are providing value to employees and clients of our partners.”

Lim also talked about moving forward into the next 70 years with a strong focus on nurturing client relationships by leveraging new technologies including data analytics to provide clients with a great experience throughout their financial journey with the company.

“People need life insurance more than ever and we are ready to be part of that solution now and in the future, as part of building a healthier and more financially secure nation,” he added. 

Incidentally, Lim is the incumbent president of the Philippine Life Insurance Association (PLIA), the trade organization of the country’s life insurance industry recognized by the Insurance Commission.

Tailored to address the financial priorities of affluent individuals seeking to grow their wealth, Sun Life Grepa Financial, Inc. (Sun Life Grepa), a major insurer in the Philippines, has launched the Sun Grepa Peso Asset Builder (ProIncome) to give clients the opportunity to easily access global investments using their Peso assets.

The Sun Grepa Peso Asset Builder (ProIncome) is a Peso-denominated, single-pay investment-linked life insurance product that offers fixed annual income payout of 4.30% for seven years. It also provides capital protection, allowing one to get back their full single premium at policy maturity or at the end of the seven-year holding period.

“We want to provide a complete financial solution to our clients to address their changing financial needs. With Sun Grepa Peso Asset Builder (ProIncome), clients can enjoy regular earnings while preserving their capital,” Sun Life Grepa President Richard S. Lim said.

The product also offers life insurance coverage, with a guaranteed benefit of at least 125% of the one-time premium payment.

Those interested in the Sun Grepa Peso Asset Builder (ProIncome) can experience a convenient application and policy approval through the Guaranteed Insurability Offer, subject to the terms set by Sun Life Grepa.

Go global with your Pesos with Sun Grepa Peso Asset Builder! For more information and to explore this limited time offering, talk to a Sun Life Grepa Financial Advisor, or visit your RCBC Branch of Account, or go to www.sunlifegrepa.com for details. 

The Philippine Life Insurance Association, Inc. (PLIA) member companies have elected Sun Life Grepa President Richard S. Lim to the PLIA Board as President. The induction of officers led by Insurance Commissioner (IC) Hon. Reynaldo A. Regalado was held on February 6, 2024 at Dusit Thani Manila.

This follows Lim’s dedicated service as Treasurer in 2022, showcasing his commitment to the advancement of the life insurance industry. 

In his acceptance speech, Lim expressed gratitude for the opportunity to serve in this capacity. “I thank the PLIA membership and my fellow 2024 Board members for their vote of confidence in choosing me to lead the industry as PLIA President.”

Furthermore, President Lim emphasized PLIA’s purpose to enhance financial literacy and raise awareness about life insurance, aligning with the government’s goal of fostering financial inclusion and making financial products affordable and available to all.

“The mission of PLIA encompasses three key pillars. Firstly, we are dedicated to supporting industry growth by increasing awareness and accessibility of life insurance, empowering our financial advisors to educate clients on financial preparedness. Secondly, we prioritize Filipinos’ welfare by fostering trust, transparency, and resilience in delivering insurance promises, while also safeguarding their privacy and consumer protection rights. Lastly, we aim to enhance stakeholder engagement, addressing relevant industry issues, and creating new capabilities to serve them better and help our members build scale.”

With these goals in mind, President Lim reiterated the collective effort needed to achieve success. “Working together, we aim to bring about positive changes that will uplift our regulatory environment, serve as enablers to the market players in bringing out their utmost potential toward the progressive development of our industry. Most importantly, we aim to place the IC and PLIA in a better position to safeguard and promote the interest of the insuring public,” President Lim added. “I believe our true success lies in the unity of our actions to grow the industry more than simply growing our individual businesses.”

PLIA, founded in 1950, serves as the non-stock, non-profit umbrella organization of all life insurance companies operating in the Philippines. With 31 member companies, PLIA plays a pivotal role in shaping and promoting the life insurance industry in the country.

Sun Life Grepa Financial, Inc. (Sun Life Grepa) has once again earned the Great Place To Work (GPTW) certification for 2023. Having been recognized by GPTW for two consecutive years since 2022, Sun Life Grepa emphasizes its commitment to fostering a positive and supportive workplace culture.

Great Place To Work® is the global authority on workplace culture, employee experience, and leadership behaviors.  It is the only recognition based entirely on what employees report about their workplace experience – specifically, how consistently they experience a high-trust workplace.

According to the results of the GPTW survey, 88% of Sun Life Grepa employees say that it is a great place to work, compared to 53% of employees at a typical global company. 92% said that the company makes them feel welcome while 93% express fair treatment regardless of sexual orientation. More importantly, 92% of Sun Life Grepa employees say that they are proud to tell others that they work here.

“At Sun Life Grepa, we believe that a positive work culture is the foundation for individual and collective success. This drives us to continuously invest in our people and their well-being,” Sun Life Grepa President Richard S. Lim said. “That is why we are proud to receive again the GPTW certification because his recognition shows how we truly value our employees and their contributions to the organization,” Lim added. 

In tandem with this recognition, Sun Life Grepa also recently rolled out several initiatives to ensure continuous dedication to employee development.

“Sun Life Grepa continues to invest in people through strategic and needs-based development programs that hone the expertise of our teams. We put employee and business needs at the center of every engagement and development strategy for Sun Life Grepa to meet its business goals while simultaneously enabling our people achieve their career aspirations and development goals,” Human Resources Head Pinky Moreno said.

Sun Life Grepa’s programs are anchored on self-driven development because the company believes that everyone can grow within the organization and to do this, talents should take ownership of their own career and development.

Another investment that Sun Life Grepa made for its employees is the implementation of the ePMS, an automated performance management system that aligns employees’ development goals with company objectives. The ePMS helps ensure that regular performance and career conversations happen in order to help employees stay on track in meeting their performance and career goals. Sun Life Grepa  also implemented Feedback 360 which enables employees to collect feedback from managers, peers and direct reports and use the insights to help them craft detailed individual development plans. These new tools enable employees to drive their own performance and development.

Sun Life Grepa also launched programs to reinforce leaders’ capabilities. Coaching and Mentoring Workshops were rolled out to ensure that leaders can adequately support the performance and development goals of employees.  These leader development programs aim to foster a Coaching and Mentoring Culture that supports the strong performance culture within the organization. 

Sun Life Grepa also ensures the availability of programs that support the total wellbeing of employees via various employee activities, mental health talks, wellness activities including yoga, boxing and zumba.  The company even makes available an Employee Assistance Program that provides 24X7 support for the mental health needs of its employees and their dependents.

“By cultivating a supportive and nurturing work environment for our people, we instill a deeper sense of belongingness across our teams, inspiring them to give their best every day and helping them achieve their personal purpose as well as fulfilling the company’s purpose which is to help Filipinos achieve lifetime financial security and live healthier lives,” Moreno added.

Bayad, the pioneer brand in the outsourced payment collection system in the Philippines, officially seals its partnership with Sun Life Grepa Financial, Inc. (Sun Life Grepa), a major life insurance company in the Philippines.

As Bayad beefs up its partnership with Sun Life Grepa, its mobile application – Bayad App will now be able to directly make available a variety of insurance plans to its subscribers, apart from enabling the acceptance of monthly payments for insurance premiums.

Bayad President and CEO Lawrence Y. Ferrer shared, “Our sole purpose at Bayad has always been centered on elevating the quality of living of Filipinos, and a huge part of our role is to help our kababayans safeguard the most valuable things in life, their physical and financial wellbeing.  With this, we continue to maximize our digital payment offerings by partnering with forward-thinking financial institutions like Sun Life Grepa. Now more than ever, we recognize the increasing need for security in cases of death, unforeseen accidents, hospitalization costs from illnesses, and retirement financial plans. We are one with Sun Life Grepa in enabling worry-free insurance payment solutions.”

“At Sun Life Grepa, we have always been committed to making life brighter for Filipinos through offering life insurance products that empower individuals and families to secure their futures, “ said Sun Life Grepa President Richard Lim. “This partnership with Bayad Center aligns perfectly with that direction. Its extensive network and expertise in payment solutions make them a remarkable partner to help us reach more Filipinos. We have the highest confidence that we will be able to offer an outstanding client experience but also reinforce our commitment to financial inclusion and security.”

Visit www.sunlifegrepa.com to learn more about Sun Life Grepa products or email partnerships@bayad.com for more about Bayad support services for payment and collection. 

Overall financial preparedness among some Filipinos remains low despite having a clear sense of their financial priorities.

Despite having identified their financial priorities, majority of respondents who took part in the 2023 Financial Readiness Survey of leading insurer Sun Life Grepa Financial, Inc. (Sun Life Grepa) said they still lack financial readiness when it comes to securing protection instruments that address their various goals and needs. Perceived full preparedness is less than 10%. Respondents said they are fully or somewhat prepared when it comes to having funds for emergency use (34%) and for major goals (32%), personal health (32%), and investments (30%).

In terms of respondents’ top financial priorities, the latest priority rankings are consistent with the company’s 2022 survey results, although the percentages have slightly changed. Earning and saving income ranks number one at 69% (previously at 77%), followed by building wealth at 57% (from 60%), and protecting money at 39% (from 33%).

The changes in variance can be attributed to the sustained “new normal” or post-pandemic recovery. Full-time jobs and other income-generating opportunities have become more stable, allowing people room to adjust their financial priorities. Health protection ranks fourth at 29%, up from fifth spot last year at 24%. This is followed by child education at 26%, which held the fourth spot last year at 28%.

Owning adequate insurance policies does still give people peace of mind, with policy owners having a higher level of perceived preparedness compared to those without insurance ownership. As such, Sun Life Grepa plans to bolster its educational projects to inform people of the value of financial protection. These initiatives also help match people with financial products and instruments that address their specific needs.

For those wanting to insure their health, the company offers Sun Grepa Fit and Well, a comprehensive life and health protection that provides financial benefits upon early or late diagnosis of any of 114 covered critical conditions. There are also specialized health protection plans such as the Sun Grepa Senior Care for people in their golden years and Sun Grepa Cancer Care for those battling the Big C (cancer). In addition, there is the Sun Grepa ProHealth for clients looking for affordable health coverage and maximum health protection.

For owners of micro, small and medium enterprises (MSMEs) who need solutions to address their company’s and employees’ needs, Sun Life Grepa came up with Sun Life Grepa Accident ProSafe (packaged group insurance specifically designed for SMEs that offers comprehensive coverage against accidents), Sun Life Grepa Smart Care Plus (provides small business employees with protection benefits against death, accidents and illnesses), and Sun Life Grepa HIPSTER (Health Insurance Plan for Small Enterprises, an affordable insurance solution that provides life, accident, disability, and medical benefits for MSME employees).

The insurer also recently launched a new fund option called SLG Peso-Global Sustainability Growth Fund that caters to environmentally conscious investors looking to grow their finances sustainably. This peso-dominated, variable unit-linked (VUL) fund provides easy access to a mix of Environmental, Social, and Governance (ESG)-driven global equity funds, offering investors a meaningful way to benefit from market opportunities.

Sun Life Grepa is continuously innovating financial solutions to accommodate varying concerns and preferences, giving the uninsured more ways to protect themselves and their futures.

Sun Life Grepa Financial, Inc., one of the major life insurers in the country, participated in the 66th Charter Anniversary Symposium and Special General Membership Meeting of the Rural Bankers Association of the Philippines (RBAP) at the Rizal Park Hotel Manila in November 22-23, 2023.   

A Sun Life Grepa booth was set up to entertain inquiries and give advice to rural bankers on the merits of life insurance for their different business needs. Additionally, free medical check-ups, doctor consultations from Grepa Medical Diagnostic Clinic, as well as fun games were offered to attendees during the event. 

In the photo (L-R) are Julie Estares – President, ACM Business Solutions, Inc.; Sun Life Grepa Business Development Manager Andrei Vegas; Head of Sun Life Grepa Group Sales and Strategies Justine Daguman; current RBAP President Rafael Francisco Amparo, incoming RBAP President and Executive Director Anacleta Dayola-Aboyme; and Sun Life Grepa Affinity Marketing Sales Head-Partnership Distribution Marge Estrera.

In response to the dynamic shifts in clients’ financial priorities and the growing appeal of foreign investments, Sun Life Grepa Financial, Inc. (Sun Life Grepa) is reintroducing Sun Grepa Global Asset Builder (ProIncome) with new underlying assets.  

Following the successful launch of its peso counterpart, Sun Grepa Peso Asset Builder (Hybrid Income), Sun Grepa Global Asset Builder (GAB) is back with new assets for a limited period. It is a US dollar-denominated, single-pay investment-linked insurance product that offers indicative fixed annual income payout of 4.3%, capital protection, and life insurance protection for seven years. It aims to maximize the value of dollar assets by providing better-earning potential.

Moreover, it also has a maturity benefit of 100% of the single premium and life insurance coverage equal to at least 125% of the single premium.

“We are delighted to announce the launch of Sun Grepa Global Asset Builder,” Sun Life Grepa President Richard S. Lim said. “This underscores our unwavering commitment to delivering innovative solutions that address our clients’ evolving financial goals. Going beyond the ordinary is consistently our top priority,” he added.

Sun Grepa Global Asset Builder (ProIncome) is a comprehensive financial solution that would give clients access to an attractive and unique investment-linked product allowing them to diversify to global investments.

Boost your dollar’s earning power with Sun Grepa Global Asset Builder. For more information and to explore this exceptional offering, talk to a Sun Life Grepa Financial Advisor, or visit your RCBC Branch of Account, or go to www.sunlifegrepa.com for details. 

Sun Life Grepa Financial, Inc. (Sun Life Grepa), one of the major insurers in the country, was recently awarded with a Golden Arrow in the 2022 ASEAN Corporate Governance Scorecard (ACGS) Awards organized by the Institute of Corporate Directors (ICD). This is the 5th consecutive year that the ICD has recognized the good corporate governance of Sun Life Grepa. Sun Life Grepa President Richard S. Lim attended the awarding ceremony that was held on September 28, 2023 at Okada Manila.  

The ACGS is an assessment tool that evaluates the corporate governance practices of publicly listed and insurance companies in ASEAN member countries. The Arrow Golden Recognition is a distinguished honor that reflects exceptional adherence to best practices in corporate governance, making Sun Life Grepa a standout in the industry. 

“We are immensely proud to receive this award from ICD. This back-to-back recognition underscores our relentless pursuit of excellence in all aspects of our business operations, ultimately benefiting our customers and the wider community we serve,” Sun Life Grepa President Richard S. Lim said. “This also reflects the dedication of our team and our unwavering commitment of building trust and confidence, exceeding the expectations of our stakeholders every step of the way.”  

The ACGS, established by the ASEAN Capital Markets Forum, serves as a valuable tool for evaluating and ranking publicly listed and insurance companies’ effectiveness in protecting the rights of shareholders, equitable treatment with stakeholders, transparency and fairness through disclosure of material information, and the effectiveness of the board. This initiative was inaugurated in 2011 as a significant step toward advancing ASEAN’s economic integration. 

Sun Life Grepa had previously received an ACGS award in 2018 and 2021.