Recent global index ranking showed the Philippines as having the second worst retirement income system among 44 economies. To address this, Sun Life Grepa Financial, Inc. (Sun Life Grepa), a major life insurance company in the country, offers options and solutions to address Filipinos’ retirement woes.
The Mercer-CFA Institute’s Global Pension Index, which benchmarks global retirement income systems, recently listed the Philippines 43rd out of 44 economies with the country receiving an overall grade of “D.” This grade indicates that the pension system has desirable features but also possesses major weaknesses that need to be addressed.
Coming from this index, Sun Life Grepa is providing options for sustainable retirement benefits. With the volatility of inflation and increasing cost of living especially when it comes to elderly care, it is important to prepare for a future that covers these concerns. After all, government pension may not be enough during retirement as one’s income decreases while expenses increase on bills, travel, home improvement and inevitably, medical or long-term care.
“We are aware of the struggles and challenges facing the Philippine landscape when it comes to retirement, insurance, and protection. That’s why Sun Life Grepa, along with YGC (Yuchengco Group of Companies), is offering solutions to future-proof the lives of many Filipinos. There are various ways to prepare for the golden age of retirement so Filipinos can live their sunset years more comfortably without worrying about the burden of expenses. Sun Life Grepa would like to be a part of a more financially literate and healthy Philippines and equip our kababayans with knowledge, products and services that could help plan and prepare for the years ahead,” Sun Life Grepa President Richard S. Lim says.
Sun Life Grepa encourages Filipinos to secure the future by getting them covered and by seeking professional advice from a financial advisor. With Sun Life Grepa’s life insurance plans, you can prepare for your retirement needs. Here are some of the Sun Life Grepa products that are relevant to address your retirement needs:
Sun Grepa Power Builder 5 or Sun Grepa Power Builder 10 is a life insurance plan that provides protection up to age 88 and coverage that is at least double the policy’s Face Amount. As an investment-linked insurance, it also comes with suitable investment options to potentially grow the fund over the long-term. It allows partial withdrawals to help pay for expenses during retirement. It also has manageable premium payments with the option to pay for 5 and 10 years for Sun Grepa Power Builder 5 and Sun Grepa Power Builder 10, respectively.
Another one is Sun Grepa ProSecure Plus, where you can get life insurance coverage that is double the Face Amount from Day 1 up until the age of 100. It provides regular guaranteed cash benefits amounting to 8% of the policy’s Face Amount starting from the 6th policy anniversary, and every other year afterwards, as long as the insured is still alive, thereby providing that much-needed cashflow during one’s retirement. It may also earn non-guaranteed dividends that can be withdrawn, used to pay future premiums or additional coverage, or left with Sun Life Grepa to accumulate.
Make your golden years one of the most exciting and fulfilling times of your life. There is more to retirement than just sitting around and watching life go by. It is a time to live life to the fullest, pursuing interests and passions as well as maximizing things that matter in one’s life. You can prepare for a comfortable and experience-filled future with Sun Life Grepa.
For more information on insurance and investment products to start planning for the sunset years and for your legacy, call 88499633, visit any Sun Life Grepa branch, log on to www.sunlifegrepa.com or email wecare@sunlifegrepa.com