Sun Flexilink is a regular pay Variable Universal Life (VUL) product from Sun Life that offers income protection and wealth accumulation in a more affordable scheme. If you read my previous post (link) you’ll know how important it is for me to be insured. My father died a few years ago without one and it has been a financial roller coaster for me since then, that’s when I’ve seen the importance of it for my family (future family). I don’t want my future kids to take my role (provider) if I die too soon because I know how hard it will be for them. Don’t get me wrong, I love my father even though he didn’t prepare for this because he didn’t know about this at all. If you’re reading this it means that you’re lucky because you can still do something today your future self will be thankful of.
All this protection plus it has investment component that grows my money over time which I can use for my retirement, an education fund for siblings or kids, buying life goals (i.e. car, house, etc.), and other things I need.
Think About This?
I’m sorry but I need ask, can you imagine what kind of life your family will have if you’ll be called by our creator today? Will they still live the same lifestyle? Can your sibling/kids go to the same school? If not, you better get a life insurance now.
Contents (Quick Links):
- What are the Benefits of Sun Flexilink?
- Sun Flexilink Brochure
- Sample Proposal
- What are the Requirements?
- Get a FREE Sample Proposal
What are the Benefits of Sun Flexilink?
Sun Flexilink is a predecessor of Sun Maxilink Prime which is VUL that basically offers life insurance coverage until age 88 and in which investment is in the form of a mutual fund. If you don’t know what is a mutual fund, it’s just a pooled fund managed by a fund manager who will invest the pooled money between bonds or stocks based fund of your choice. If a mutual fund is new to you, don’t worry because your Financial Advisor can help you pick the most suitable fund for you.
Sun Flexilink Brochure
Sun Flexilink Sample Proposal
Like any of the plans out there, this is best explained with an example. I will share a sample proposal I made for myself.
Federico Suan, Jr., 25, Male, Non-smoker, Index Fund with an ave. historical return of 10% p.a.
Yearly Premium: Php 31,670
Semi-Annually: Php 15,835
Quarterly: Php 7,918
Monthly: Php 2,640
Daily: Php 88 (just the price of your favorite fast food meal)
Life Insurance Coverage: Php 1 Million
This is the lump sum amount my family can get to continue the life they are living today when I die (Lord, please not too soon). My brothers can use this amount to finance the education of our younger sister and provide the needs of my Lola. This is to show how much I love them even if I am not physically present there to provide their needs.
Total Disability Benefit (TDB): Waiver of Premiums
A rider, additional benefit, I attached to my plan that will waive my future payment when I get totally and permanently disabled. When this benefit gets activated, Sun Life will pay the future premiums on my behalf. It is as if I am still paying my plan even though I can no longer work pay for the premiums. This is a must have a rider to any insurance plan.
Accidental Death, Dismemberment, and Disablement Benefit (ADDD): Php 1 Million
This is also a rider I attached to my plan for additional coverage. When I die due to an accident, my family will get this together with my basic life coverage which makes the lump sum to Php 2 Million. If I am lucky to survive the accident but lost any part of my body, I will receive a corresponding percentage of my ADDD coverage (e.g. if I lose my one eyesight then I will receive Php 500,000). If I become permanently disabled I will receive Php 100,000 every year for the next 10 years for a total of Php 1 Million in benefits.
Hospital Income Benefit (HIB): Php 1,000/day
This is something I can get when I get confined and serve more as a daily income replacement. I can avail this benefit for a total of 1000 days or a maximum of Php 1 Million. The benefits I can get will double or become Php 2,000 when I get confined in ICU or hospitalized due to any of the dreaded diseases listed below.
Dreaded diseases include stroke, chronic liver disease, dissecting aortic aneurysm, end-stage lung disease, end-stage renal disease, multiple sclerosis, major organ transplant, invasive cancer, poliomyelitis, progressive muscular atrophy and acute heart attack.
Critical Illness Benefit (CIB): Php 1 Million
Medical treatment can be costly and can wipe out all my savings when I get critically ill. I can get this benefit when I get diagnosed or treated for any of the 36 critical illness listed below. Critical illness includes stroke, heart attack, invasive cancer, dissecting aortic aneurysm, etc. The premium of this rider increases every 5 years and after the paying period, the accumulated funds will have to pay for the succeeding premiums.
There are 9 available funds you can choose just ask for the assistance of your Financial Advisor in picking the fund. In my case, I’ve chosen the index fund with an average historical return of 10% p.a. The index fund invests in top publicly listed companies like Ayala, SM, Jollibee, etc. which makes me enjoy the benefits of stock market indirectly.
When I retire at age 65, I will have a projected fund value of Php 1,074,463 which I can use to build a small business or other things I may need for my retirement. The fund can also be used as an educational fund for my future kids. We all know how much the cost of sending a child to school nowadays that’s why it pays to be prepared for it as early as now. You can use the fund for whatever purpose you may seem beneficial to you like buying a car probably, building your own house, etc.
What are the Requirements?
You need your initial payment, signed application forms, and one valid ID. Initial payment is at least 1 quarter or 3 months worth of premiums.
Get a Sun Flexilink Proposal NOW!
Protect the future of your family by getting a VUL policy today. Some terms are technical in nature that an ordinary person may not understand without the help of a Licensed Financial Advisor. I strongly recommend a personal meeting which is FREE of charge. Don’t worry because you won’t be required to get any plans from me. You may not like it and it is perfectly fine with me. You can reach me thru 0917-775-8352 or e-mail me at firstname.lastname@example.org or at my official e-mail via email@example.com
Federico is an electronics engineer, financial blogger, insurance agent, and a certified investment solicitor. A multi-awarded Sun Life financial advisor with clients ranges from professionals like lawyers, doctors, engineers, business owners, company directors, and OFWs to minimum wage earners had sought advice from him in achieving lifetime financial freedom.