Sun Life Grepa Financial

Despite COVID statistics and alert levels steadily going down, Filipinos remain focused on building their financial protection and securing their health.

A survey done by Sun Life Grepa Financial, Inc. (Sun Life Grepa), a joint venture between the Yuchengco Group of Companies and Sun Life Philippines, indicated that health protection continues to be one of the top priorities among the general public. From the findings, only two out of five rated COVID-19 as their major concern.

Conducted in the first quarter of 2022, the survey revealed that aside from health protection, they are highly concerned for the health and well-being of their loved ones and themselves. The desire to attain a secured source of income has also become a priority among Filipinos according to the survey. Four out of every five respondents said they want to earn extra money and grow it through investments.

“I am glad to know that staying healthy has been at the top of everyone’s to-do list,” Sun Life Grepa President Richard S. Lim said. “Everyone is seeking to bring their lives back to normal. Even after facing much uncertainty, people are not only building resilience against future pandemics but also improving their quality of life. So, we’re well-placed to support our clients’ life journey.”

While illnesses can strike anyone without a warning and can drain a family’s resources, there are ways to prepare for unexpected medical expenses and create a safety net during uncertain times. With this, here are some tips to plan ahead for rising health care costs.

Live an active lifestyle

Basic healthy habits are connected with living a longer life. It contributes significantly to prosperity and wealth. Living an active lifestyle is a simple way to minimize health care costs. Eating a balanced diet, getting enough sleep and exercising regularly lower risks for health problems.

Get a health protection plan

Based on the 2020 Philippine National Health Accounts, an annual publication by the Philippine Statistics Authority, out-of-pocket expenses remain to be Filipinos’ major source of financing for medical care that pushes Filipino households into poverty. The study revealed that household-out-of-pocket payment came second among sources of health financing in the country at 44.7%, following government health financing schemes. High medical expenditures have had a major impact on families, making various sacrifices in order to pay these bills including significant changes to their financial situation or lifestyle. That is why it is helpful to have more than just a basic understanding of the total cost of health expenses. Health protection plans that offer various terms and coverages such as life insurance protection and other living benefits like guaranteed cash and non-guaranteed dividends can be helpful in addressing health-related expenses.

Be financially secure

While health protection is top of mind, life insurance is of paramount importance. Life insurance also has long-term benefits that protects one family’s financial future. Life insurance and health solutions help clients achieve their financial goals and prepare for the unexpected.

A healthier life is a brighter life. Ease your worries and ensure you are financially prepared for health emergencies with Sun Life Grepa’s health solutions. For inquiries, contact your Sun Life Grepa Advisor, visit any Sun Life Grepa branch or email wecare@sunlifegrepa.com.

To help married couples understand property relations between them and preserve their legacy in handing it down to the next generations, Sun Life Grepa Financial, Inc. (Sun Life Grepa), a major life insurer in the country, recently organized a webinar entitled “Yours, Mine, Ours: What You Need to Know About Conjugal Properties and Inheritance”.

The webinar provided practical guide on addressing many concerns about conjugal properties including: possible and compulsory heirs including absence of prenuptial agreement, rules governing conjugal partnership of gains and debts and obligations contracted by both parties.

Estate planning expert and guest speaker Atty. Nicasio Cabaneiro, an authority in the practice of taxation and commercial law with 40 years of teaching experience, said “the moment a person got married not only marital relationship is established but also property relationship. When a person marries, part or all of their property becomes conjugal property.”

Atty. Nic also highlighted how properties are transmitted by succession. “Properties may be transferred to the heirs either by testamentary or testate succession (by executing a will) or intestate succession (no will or “do nothing attitude”). It is more prudent and advisable to go for testate succession where there is a free portion, giving property owner more flexibility to give more to favored heirs. This is not possible in intestate succession since succession is determined by law and there is no free portion.” He also discussed the reasons couples entered a prenuptial agreement. “Prenuptial agreements are entered when there is significant age disparity between parties, when there is wide difference in wealth or indebtedness, and when one party has been married before and there is a desire to protect children from former marriage.”

In closing, Atty. Nic stressed the importance of smartly handling one’s hard-earned assets by planning for the future. “With a proper estate plan, estate tax may be reduced or avoided, you control and determine the future of your financial accounts and investments and ensure that your assets will go to the rightful heirs and beneficiaries.”

“In our current situation, it is essential to protect our assets and investments. More than anything, one lesson we can get from this pandemic is the wisdom of preparing a good future for our family in whatever stage of life we are in right now. We believe that the information presented in the webinar will help clients in making the best decisions possible to protect their families and ensure a bright future for them,” Sun Life Grepa President Richard S. Lim said.

Sun Life Grepa regularly holds free educational webinars on various financial literacy matters throughout the year. Visit www.sunlifegrepa.com, follow our official facebook page @sunlifegrepa or email sunlifegrepa@sunlifegrepa.com for inquiries.

ABOUT SUN LIFE GREPA

Sun Life Grepa Financial, Inc. or Sun Life Grepa is a joint venture between the Yuchengco Group of Companies (YGC) and Sun Life Philippines (Sun Life). Sun Life Grepa offers financial protection products through its agency, bancassurance, and group account channels. YGC is one of Southeast Asia’s largest conglomerates with over 90 companies, while Sun Life has been a top player in the Philippine market for over 120 years.

Sun Life Grepa Financial, Inc. (Sun Life Grepa), one of the major life insurers in the country, ties up with the Pampanga Chamber of Commerce and Industry, Inc. (PAMCHAM) as part of expanding its support for Micro, Small and Medium Enterprises (MSMEs) in the Pampanga and other Central Luzon areas for health protection and life insurance needs.

PAMCHAM is tagged as the “voice of business” in Pampanga that supports local businesses and MSMEs through networking, trade and investment development, IT services and other support programs. The chamber also supports wide-range of advocacies for business and community development, education and livelihood and rural development.

“Being part of the PAMCHAM makes it possible for Sun Life Grepa Healthcare to reach more people who can benefit from life insurance protection,” Sun Life Grepa Vice President Peter Miranda said.

“Through our collaboration with PAMCHAM and its MSME (Micro Small and Medium Enterprise) members, we were able to promote our advocacy of workplace health and protect over 2,000 employees. Most recently, we secured the medical insurance needs of PAMCHAM’s own employees under our HIPSTER product – a testament to how serious PAMCHAM is in taking care of not only its members but its employees as well,” Miranda added.

Meanwhile, Sun Life Grepa through its Group Healthcare unit offers MSMEs with three (3) Business Solutions – Accident ProSafe, Smart Care Plus and HIPSTER – that are tailor made to fit their employee benefit needs from wellness, protection and recovery. These are simple, affordable and comprehensive packaged products for MSMEs with 5-200 employees.

For inquiries about the MSME Business Solutions, contact your Sun Life Grepa advisor, visit any Sun Life Grepa branch or email groupsales@sunlifegrepa.com. You may also visit the official Sun Life Grepa Healthcare Facebook page at https://facebook.com/sunlifegrepahealthcare.

ABOUT SUN LIFE GREPA

Sun Life Grepa Financial, Inc. (Sun Life Grepa), a joint venture between Sun Life Philippines and Yuchengco Group of Companies, generated a total premium income (TPI) of Php9.54 billion, a 48% increase from its Php6.46 billion TPI in 2020.

The company also grew its insurance claims and benefits by 79% at Php1.22 billion compared to Php681 million from the previous year. The COVID-related claims were estimated at around 37% of total claims in 2021. This is primarily driven by the relevance of insurance for financial security and protection of loved ones amidst the pandemic.

“We attribute this growth to our resiliency and our singular commitment to clients in their time of need,” Sun Life Grepa President Richard S. Lim said. “Amid the profound upheaval of 2021, Sun Life Grepa was able to create innovations that helped the company navigate pandemic challenges and continue business uninterrupted. This solutions-based approach has served us and our clients well,” Lim added.

Lim also noted that “the rising trend of insurance claims indicates a boost in consumer confidence in the life insurance industry. However, many Filipinos are still averse to applying for a life insurance plan. Based on the report by the Insurance Commission, only one out of five Filipinos who died due to COVID-19 have insurance coverage.”

“This year, we hope to encourage more people to avail of health protection and life insurance not only to protect themselves but also to secure their families.”

Among the life insurance companies, Sun Life Grepa ranked eighth in net worth at P4.6 billion, 11th in total assets at P51.1 billion and new business annual premium equivalent at P1.7 billion, and ninth in net income at P597.7 million based on quarterly reports submitted to the Insurance Commission.

“While uncertainties remain, I am optimistic that we will manage the future even better. Sun Life Grepa’s mission to help every Filipino achieve lifetime financial security and live healthier lives remains constant and unchanged. As the economy moves to full reopening in 2022, we will continue to have laser-sharp focus on achieving higher levels of productivity, efficiency and quality,” Lim added.

ABOUT SUN LIFE GREPA

Taking care of our health and well-being is always important, whether there is a pandemic or not. Unforeseen health emergencies, however, can burn a hole in our pocket and derail our finances.

To help Filipinos have a safety net during medical emergencies, Sun Life Grepa Financial, Inc. (Sun Life Grepa), a major life insurance company in the country, has launched Sun Grepa First Aid Plus, an affordable health protection plan that provides cash benefits so you can worry less about costly medical bills due to hospital confinement or surgery.

“While we can’t prepare for everything, it is important to always have a plan in place,” Sun Life Grepa President Richard S. Lim said. “Sun Grepa First Aid Plus provides financial help when you need it the most, such as unexpected medical emergencies.”

Sun Grepa First Aid Plus pays a fixed amount for each day of hospital confinement which doubles if the confinement is in an intensive care unit (ICU). Aside from these, the product also pays benefits should the insured undergo a covered surgery. It also offers life insurance coverage for 10 years and additional cash benefit in case untimely passing due to accident happens. In case of total and permanent disability, premiums are waived so you don’t need to worry about future premiums due.

Plus, with the plan’s money-back feature, clients can get up to 75% of thetotal premiums* paid when they outlive the protection period of 10 years, whether there were hospitalization claims paid or none.

Prepare for medical emergencies with Sun Grepa First Aid Plus and enjoy easy application process through the Simplified Issue Offer. For more information, go to https://www.sunlifegrepa.com/home/insurance/health-protection/sun-grepa-first-aid-plus/, contact your Sun Life Grepa Advisor, visit any Sun Life Grepa branch or email wecare@sunlifegrepa.com.

*Total premiums will be based on the original annual premiums at policy effective date, net of any extra premium and/or modal loading.

Sun Life Grepa Financial, Inc. (Sun Life Grepa), a major insurer in the country, and Home Credit Philippines (HCPH), a leading consumer finance technology provider, continue to strengthen their strategic partnership for the underserved Filipino market.

Sun Life Grepa and HCPH have enhanced the coverage six times in the last five years. The latest enhancement provides a P50,000.00 personal accident and P5,000.00 accident medical reimbursement insurance to all eligible family members of Home Credit borrowers. This further protects the Filipino borrowers from unexpected emergencies in their family.

“Through this partnership, we were able to create solutions and implement innovative initiatives, giving Filipinos better control of their finances,” Sun Life Grepa President Richard S. Lim said. “As our partnership with HCPH continues, we will make sure to intensify our efforts to reach more of the underserved sector and build more options for financial protection tailored to their needs.”

Furthermore, since inception, Sun Life Grepa and HCPH were able to secure more than eight million borrowers offering financial security while providing peace of mind not only for themselves but for their families as well.

“As a company built on the concept of responsible lending, we have made it our mission to improve financial literacy among mass market. We are grateful for this partnership with Sun Life Grepa and we look forward to more opportunities to grow our presence and promote this endeavor with them,” HCPH CEO David Minol said.

As a global tech-driven consumer finance company built on the concept of responsible lending, Home Credit has made it its mission to improve financial literacy among the mass market. Sun Life Grepa gives its wholehearted support to HCPH’s mission as it is aligned with Sun Life Grepa’s direction to provide more financial protection options to Filipinos, whether it be for personal accident or health protection.

The continued collaboration is especially relevant now as life and health protection have become increasingly important in people’s priorities in the pandemic environment. For more information, contact Sun Life Grepa at 8849-9633 or HCPH at 7753-5711.

Sun Life Grepa Financial, Inc. (Sun Life Grepa), a major life insurance company in the country, together with the A.Y. Foundation, the corporate social responsibility arm of the Yuchengco Group of Companies, recently donated tablets to the Department of Education – Division of General Trias. These tablets will be distributed to four different schools, namely Tropical Village Elementary School, Governor Ferrer Main National High School, Pasong Kawayan II Elementary School and Luis Y. Ferrer Jr. National High School as part of Sun Life Grepa’s Share the Passion corporate social responsibility program.

“This kind of donation is important to schools especially now when virtual learning is needed and gadgets like these can support the learning of students,” said Doris Estalilla, Department of Education General Trias Schools Division Superintendent.

“Education is an important cornerstone of Sun Life Grepa and the AY Foundation’s advocacy,” said Bessie Arciga, Head of Corporate Brand for Sun Life Grepa. “Through donations like this, we continue our commitment to being part of the evolving learning landscape as schools strive strengthen their learning infrastructure in the new normal.”

Shown in the photo (left to right) are Education Program Specialist II Jofit Dayoc; Dr. Ines Inocencio, Education Program Supervisor; and Dr. Estalilla, Schools Division Superintendent, who received the tablet donation from A.Y. Foundation Scholarship Coordinator Lyka Luzuriaga (2nd from right) and Sun Life Grepa Head of Corporate Branding and Communications Bessie Arciga (far right).

With parents and families trying to adjust to a today’s way of life with remote job tasks, online learning for kids, social distancing and home isolation, Judy Ann Santos-Agoncillo, shares how she keeps her family in tune with the new normal and discusses the importance of preparing ahead.

“We have learned a lot from the past years of having a pandemic. When the pandemic started, everybody thought that it will just pass quickly. Pero tumagal nang husto and now everyone is concerned about loved ones, especially kids,” Judy Ann said. “To help your kids feel better, importante talaga to keep an open line of communication with them and reassure them whenever they are feeling worried. Let them know that you will get through this challenge together as a family. At the same time, as parents, we need to be a role model to our children by building empathy and helping other people.”

Mindful of protecting children’s health in a pandemic, Judy Ann also shares how she takes care of her family. “I always make sure that my kids are always eating healthy and proper food. Gusto ko din na active sila even if they are confined to the home space, so I regularly engage them in physical activities. Because I’m working from home, it’s easier for me to encourage my kids.” she said. “Importante yung may routine that includes taking care of yourself, malaking bagay na yun sa ating mga mommies,” she added.

Judy Ann goes on to cite the great opportunities in the changing environments around home and work, saying that this is the best time to build a bond with loved ones and we must make the most of it. “I’m just happy that I’m able to observe and see my kids mature because they grow up so fast and I wouldn’t want to miss any part of it.”

To add, Judy Ann also shares how many people around her have learned during the pandemic the importance of planning ahead for uncertainties. “We can never really predict what the future holds for us, what’s important is everybody is safe and healthy, especially now. To do that, magplano tayo ahead,” Judy Ann said.

“Now that we know better, put together ways to keep everyone in your circle safe and healthy. Have a plan that ensures your loved ones follow preventive measures such as taking vitamins, home isolation, and health testing. Maganda din that we have a financial protection plan for ourselves and our loved ones in case of emergencies. When you have these in place, panatag ka.”

The actress also gives advice to all moms who are navigating the balance between motherhood and work. “To all the working moms out there, make sure you learn something from this pandemic as we move forward. At the same time, if you want to try something new, go for it because life’s too short to think twice. Believe in yourself and this is the perfect time to grow, grow with your loved ones as their lifetime partner.”

Judy Ann headlines Sun Life Grepa Financial Inc.’s (Sun Life Grepa) Your Partner Beyond a Lifetime campaign. For inquiries, visit Sun Life Grepa’s Facebook page (@sunlifegrepa) or log on to www.sunlifegrepa.com.

Sun Life Grepa Financial, Inc. (Sun Life Grepa) is launching three new Peso funds that invest in various financial instruments worldwide, thus allowing clients to maximize the growth potential of their Philippine Pesos. These are the SLG Peso Global Income Fund, SLG Peso Global Growth Fund, and the SLG Peso Global Opportunity Fund.

These new SLG Peso Global Funds are available as fund options to any Sun Life Grepa PHP-denominated investment-linked life Insurance plans that provide coverage until age 88 or 100, depending on the plan chosen. This will allow them to enjoy the combined benefit of insurance protection and investments in one financial solution.

Each SLG Peso Global Fund operates as a fund-of-funds; Peso premiums will be converted into US dollars and will be invested in high-quality fixed income-centric, equity-centric, and multi-asset global funds.

“These new funds are for clients who want to expand the investment reach of their Peso assets by getting access to global markets,” Sun Life Grepa President Richard S. Lim said. “It is suitable not only for those who want to address life insurance protection needs but also for those who aim to diversify their assets to address wealth accumulation and long-term needs such as preparing for retirement.”

The Funds will be managed by Sun Life Grepa’s professional fund managers who will actively manage the portfolio to swiftly reallocate assets and capitalize on investment opportunities.

Take your Peso’s earning power to the next level with SLG Peso Global Funds! For more information, contact your Sun Life Grepa advisor, visit any Sun Life Grepa branch or email wecare@sunlifegrepa.com.

Good health is our most valued asset. It helps us achieve our goals and make our lives better. However, we also face risks every day, especially when it comes to our health. If we are unprepared, one health emergency can impact our savings significantly.

To help Filipinos manage these vulnerable health situations, Sun Life Grepa Financial, Inc. (Sun Life Grepa), a major life insurance company in the country, has launched Sun Grepa ICU Protect, a health insurance plan that ensures your financial health is well-taken care of during life’s critical moments. It provides significant benefits for life-threatening conditions requiring intensive care and life support. It includes benefits for daily and even long-term intensive care unit confinement and coverage for specific major critical illness conditions such as stroke, heart attack, cancer, or major surgery for coronary artery bypass graft.

“Even with excellent health insurance, just one severe illness can be a tremendous financial burden for you and your family,” said Sun Life Grepa President Richard S. Lim. “With Sun Grepa ICU Protect, clients can have peace of mind knowing they are prepared for any health emergencies and the future of their loved ones are financially secure beyond a lifetime.”

Sun Grepa ICU Protect also offers preventive care benefits such as a choice of either a medical exam, vaccination, or COVID-19 screening test, to help clients proactively maintain their good health and lower their risk of acquiring life-threatening diseases. Furthermore, clients will be given access as a Gold member to Go Well community so they can enjoy special privileges to various wellness programs and activities.

Meanwhile, its protection benefits include life insurance coverage up to 100 years old, with a guaranteed life insurance benefit of 100% of the policy’s face amount even after the ICU benefits and major critical illness benefits have been claimed.

Plan ahead and let Sun Grepa ICU Protect care for you during life’s critical moments. For more information, contact your Sun Life Grepa advisor, visit any Sun Life Grepa branch or email wecare@sunlifegrepa.com.