MANILA, Philippines - Only 14 percent of the country’s population has insurance protection, and a large segment of those without protection are unaware of how to manage their finances.
There are three general reasons behind these dismal statistics, these are: fear or lack of information about financial planning, difficulty understanding the concept of wealth management, and the general notion that insurance is only for the rich.
Now, Sun Life Financial Philippines (SLFP) is aiming to change the odds for every Filipino in pursuit of security and stability.
Sun Life Financial launched recently Sun StartUp, an affordable value-for-money product that can provide cost-effective financial protection.
For less than P500 every month, one can already enjoy insurance coverage that is effective for 10 years. Moreover, the coverage can be enhanced with the inclusion of an accidental death benefit.
Another benefit is the “money back feature” where the policyholder will receive a portion of payments made after 10 years, given that he outlives the plan. This is a unique feature that makes this product different from other similar offerings in the market.
The life insurance company also tapped Piolo Pascual to explain financial protection, Pia Magalona on the importance of life insurance, Bam Aquino for investing wisely, James Yap and his son Baby James for education and retirement planning.
They all help spread these messages to ensure a brighter future for every Filipino. The advocacy adapts a multimedia approach, with the financial lessons depicted in television, print, billboard, radio and Internet to reach a wider audience.