Sun Acceler8 is an endowment type of insurance that offers both protection and savings. The premium for this plan is payable for only 8 years.
The life insurance coverage is for 20 years and the amount starts at 100% of the face amount. It increases up to 228% of the Face Amount starting at the 9th policy year.
As for the savings component, Sun Acceler8 provides lump sum guaranteed cash benefit equal to 102% of the face amount of the policy. Aside from that there is guaranteed endowment benefit of 8% of the Face amount starting the end of 8th year and increases 2% of the face amount every two years, maximizing up to 20% of Face Amount.
Benefits of Sun Acceler8:
- Increasing life insurance coverage
For example, a policy with a Face amount of P500,000, will have life insurance coverage up to P1,140,000 (P500,000 x 228%) up to 20 years.
Aside from the death benefit, the policy can also have riders or supplemental benefits that give added protection in case of unforeseen events such as accidents, disability and critical illnesses.
- Increasing cash benefits
For example, when face amount ig P500,000, starting at the end of 8th year, the guaranteed endowment benefit to be received is P40,000 (P500,000 x 8%) and every two years onwards, it increases by 2% until the policy matures. At the end of 10th year, the guaranteed endowment benefit is P50,000 (P500,000 x 10%); at the end of 12th year, the guaranteed endowment benefit is P60,000 (P500,000 x 12%); and so on until end of 20th year, the guaranteed endowment benefit is P100,000 (P500,000 x 20%). The cash benefits can be received by cash or accumulated to earn interests.
- Guaranteed maturity benefit
At the end of the 20th year when the policy matures, the guaranteed benefit is 102% of the face amount. For a P500,000 face amount, this is equal to P510,000.
- Special paid-up bonus and dividend earnings
After 8 years, the policy may start to earn non-guaranteed dividends and special paid-up bonus. There is option to get these in cash or leave with Sun Life to accumulate and earn interests.
Why choose Sun Acceler8?
- You want to fund life goal with definite timeline
“It doesn’t need a lifetime to realize your dreams.” You can use the savings component of the policy to build funds for your retirement goals, education fund for your kids, or large purchases.
- You want guaranteed, regular and increasing cash flow
If you are the type who is not comfortable with volatility of investments such as in a VUL plan, then this plan will fit you. Ensure the financial security of your loved ones and enjoy the guaranteed cash benefits that accelerate over time.
- You want limited payment period
Fully pay your policy in just 8 years! You have the option to pay annually, semi-annually or quarterly. Monthly mode of payment is also available through Auto-debit or Auto-charge arrangement.
How much does Sun Acceler8 cost?
Below is a schedule of annual premium for P1,000,000 Face amount. Eligibility for this plan is 65 years old and below.
If you want to know how much it exactly costs for your age and profile, message us or request a free quote.