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March 26, 2018

Sun Maxilink Prime – For a Worry-free Retirement

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Sun Maxilink Prime is Sun Life’s top selling VUL plan due to its design which has a MAXIMIZED insurance coverage and investment options.

Since it is a VUL or an investment-linked financial plan, you get the best of both worlds in one plan. It is a combination of income protection benefits or life insurance AND wealth accumulation thru investment in Mutual funds.  This is a 10 year plan ideal for your long-term financial goals such as to have a comfortable retirement.

VULs can usually address the following two concerns of people: “what if we die too soon? and “what if we live too long?”

#1 What if you die too soon?

If you are a breadwinner of your family or you have persons who depend on your income, have you ever thought about what will happen to your spouse, children and family members if you die suddenly? Nobody wants to think about death. But really, death is inevitable. No matter how long we live, we will still die in the end. Death is certain to happen, but when it will happen is the uncertain.

Let’s take a look at the benefits of Mr. A, a 30 years old non-smoker who availed for himself a Sun Maxilink Prime VUL. The budget he allots for his plan is P5,000 per month or P60,000 annually, so the total investment is P600,000 for 10 years.

Face Amount- P1,000,000

In case Mr. A dies anytime today, his family or beneficiaries can claim GUARANTEED P2M plus his current investment fund. That is because a Maxilink Prime’s design is to double the face amount of the plan (P1M x 2 = P2M).  He is also covered up to age 88. He has a peace of mind knowing no matter what happens with him today, his family can cope up.

Total Disability Benefit (Waiver of Premium)

In case Mr. A got disabled due to an accident or illness while he is still paying for his premiums, his premiums will be waived and his VUL plan will be considered fully-paid.

Accidental Death, Dismemberment and Disablement Benefit – P1,000,000

In case the cause of death of Mr. A is due to an accident, his family will receive additional P1M which is also GUARANTEED. If the accident caused him to be dismembered or disabled, he, himself can claim the P1M benefit.

#2 What if you live too long?

A VUL plan is NOT ONLY for the persons you will leave behind, it is also for you! The investment portion of a VUL plan leaves you with the fund value and LIVING BENEFITS.

To illustrate further, let’s take a look at the investment of Mr. A from his Maxilink Prime VUL, which he plans to use for his retirement.

He opted to invest in 100% Equity funds – investment in high quality stocks that are diversified across sectors and is a high risk – high return fund for long-term capital appreciation. The compounded annual growth rate of Sun Life’s Equity VUL fund is 12.60%. Here is Mr. A’s projected fund value.

At age 50 (after 20 years) – P1.7M

If Mr. A chooses to have early retirement at age 50, and assuming his money from his plan earns 10% compounded annually, the total fund value he can withdraw is P1,744,443.

At age 60 (after 30 years) – P4.3M

If Mr. A retires at 60, and assuming his money from his plan earns 10% compounded annually, he can withdraw his funds of P4,398,607.

At age 65 (after 35 years) – P6.9M

If Mr. A retires at 65, and assuming his money from his plan earns 10% compounded annually, he can withdraw his funds of P6,991,656.

Everyone deserves a golden retirement.

We can take control of how we want to live our golden years. Whether it is to pursue our passion, open up our business, or even just to live well as financially-independent.

With a Maxilink Prime VUL, you can head start on your savings and retirement plan. If you are interested to know how much a Sun Maxilink Prime  costs for your age, you can request a proposal from us for FREE or you may contact us if you want to get schedule an appointment or get started.

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