Sun Flexilink is the cheapest life insurance with an investment plan from Sun Life. A good plan if you are a low-income earner or elderly seeking income protection and wealth accumulation plan in a more affordable scheme. Providing you financial security while making your money grow at the same time.
UPDATE (Oct 2019): Sun Life has realeased a new, better, and cheaper version called Sun Maxilink 100.
Why You Must Get Life Insurance?
My father died a few years ago without life insurance since then it has been a financial roller coaster ride for me. I have to take up the role I wasn’t supposed to. Aside from the fact that I’m not ready yet. It’s the point in my life that I felt like I was lifting something so heavy that my body cannot handle.
To think that I already graduated from college and have a decent job but I still felt that way. What more if it happened when I was still studying?
You Want Nothing But the BEST For Your Family
Please don’t get me wrong. I do love my father even though he didn’t prepare for it. During that time financial literacy is not as big as today. Maybe no one dared to offer him life insurance. It was totally not his fault that he didn’t know about his option and have no one to ask.
But it would be different for you because you’re well aware of its importance.
Which makes you lucky because you can still do something about it for the BEST of your family.
Ask Yourself This
If you’ll be called by our creator today? Will your family still live the same lifestyle? Can your sibling/kids go to the same school? If not, you better get life insurance now!
Sun Flexilink is the oldest VUL plan of Sun Life that basically offers life insurance coverage until age 88. Investment is in the form of a pooled fund similar to a mutual fund.
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.
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 what 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. It shows how much I love them even when I’m no longer present to provide their needs.
Total Disability Benefit (TDB): Waiver of Premiums
This is an additional benefit I attached to my plan. It will waive my future payments if I get totally and permanently disabled due to an accident. It is as if I am still paying my plan. This is a must-have rider to any insurance plan.
Accidental Death, Dismemberment, and Disablement Benefit (ADDD): Php 1 Million
My family will get this amount together with the basic coverage making it 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 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 the amount I will receive if I get confined in a hospital. It will serve more like a daily income replacement. This 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 if I get critically ill. But if I get ill then somehow I will be confident that I can afford the treatment without touching my savings (or maybe just a portion). The premium of this rider increases every 5 years and paid continuously until age 70.
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. allowing me enjoy the benefits of the 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.
In your case, you can use the fund for whatever purpose you may seem beneficial to you like buying a car probably, building your own house, etc.
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 email@example.com or at my official e-mail via firstname.lastname@example.org
Frequently Asked Questions (FAQ):
This is insurance with an investment plan being offered by Sun Life. A good plan to start if you are on a budget but would like to get decent insurance coverage while growing your money for future needs.
They are both variable unit-linked plans or VUL. The main difference is that Sun Flexilink is designed to be paid continuously until age 88. While Sun Maxilink Prime is payable for a minimum of 10 years.
None. No plan is superior over the other as a good plan for you may be different from another person because both of you have different financial needs.
You can start for as low as Php 2,000 per month. But it will still depend on your age and other factors.
You just need one valid ID together with your initial payment of at least one quarter or equivalent to 3 months worth of premium.
Federico is an electronics engineer, financial blogger, insurance agent, and a certified investment solicitor. A multi-awarded Sun Life financial advisor with clients ranging from lawyers, doctors, engineers, accountants, business owners, company directors, and OFWs to minimum wage earners had sought advice from him in achieving lifetime financial freedom.