SUN Smarter Life is a whole-life insurance plan that provides double coverage and guaranteed cash benefits which you can use in case of emergencies or can be a source of income during your golden years. A whole life plan ensures your coverage up to 100 years old.
There are two variants of SUN Smarter Life which is SUN Smarter Life Classic and SUN Smarter Life Elite.
SUN Smarter Life Classic
SUN Smarter Life Classic provides the following benefits:
Life insurance coverage
Ensure your family’s future no matter what happens. This product provides life insurance coverage equal 200% the face amount from Day 1 until you reach 100. You can also enhance your plan with the addition of riders which provide added income protection for uncertainties such as accidents, disability, critical illness and hospitalization.
This product provides guaranteed cash value which you can use in case of emergencies or immediate need for cash. Instead of borrowing from various financial institutions or giving up your priced possessions in exchange of money, you may use your guaranteed cash value and avail a policy loan.
Your policy may also earn non-guaranteed dividends which can be availed as a cash benefit that can be used to pay future premiums or purchase additional coverage. Dividends can also be left to accumulate.
Also, in case of a terminal illness, you may also advance a portion of your coverage.
Flexible premium payments
Depending on your goals, you have option to pay regularly or opt shorter guaranteed payment period of 5 or 10 years only. Mode of payment available is annually, semi-annually or quarterly. You can opt for monthly payment through Auto-Debit or Auto-Charge but this may only be arranged after payment of the initial quarterly premium.
SUN Smarter Life Elite
SUN Smarter Life Elite is similar to SUN Smarter Life Classic. It offers the same benefits above, only there is an additional benefit:
Lifetime guaranteed cash benefits
You will receive guaranteed cash benefits for life starting at the end of the sixth year and every two years onwards until age 100. This is 8% of the policy’s face amount and on-top of the face amount as well. You may also choose to leave your cash benefits to accumulate and be available for future needs such as education of kids or pension for retirement.
Why should you choose SUN Smarter Life?
You are looking for easy to understand protection plus savings plan. SUN Smarter Life plans provides you insurance protection which can give you peace of mind that your family will get financial help in case something happens to you. This may also be treated as instant “pamana” in itself for your heirs. On the other hand, the savings factor is that you get to accumulate guaranteed cash value throughout the years.
You want a plan that offers guaranteed amounts. Maybe you are not comfortable with investment volatility that VUL like Sun Maxilink Prime and Sun Maxilink 100 offers, then this is the perfect plan for you. The eligibility age to get this plan is from 0 (10 days old) to 80 years old. SUN Smarter Life products are great solutions to build a fund for education of your kids or for your retirement.
You want to enjoy receiving the living benefits as soon as possible. If you opt for SUN Smarter Life Elite, you are entitled to receive the regular endowment benefit starting 6th year. Both the Classic and Elite also offers non-guaranteed dividends that can be left to accumulate or be received in cash.
You want to preserve your wealth. SUN Smarter Life can be used for estate planning. A financial advisor help you estimate your net estate value so you can get the equivalent insurance coverage. In this way, your heirs can use the benefit to pay off the estate taxes when the time comes. Take a look at what Ms. Charo Santos-Concho say about this product.
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