Sun Life shines light on what really matters for millennials amid pandemic

As millennials strive to gain foothold in these trying times, they need a force to rally behind them, helping pave the way to new beginnings and continue to guide them along the way—and that's Sun Life.
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MANILA, Philippines — Early last year when COVID-19 hit the world at full tilt, every manner of the unexpected followed. Everything came to a screeching halt: businesses closed, livelihoods disrupted, public and social lives made virtually stagnant.

Being used to fast-paced, goal-oriented lifestyles, millennials surely had a lot to think about in this pandemic, especially in terms of priorities and the value of stable finances. Needless to say, these unusual times have inspired in them the need to rethink and restart.

As they strive to gain more foothold, they need a force to rally behind them, helping pave the way to new beginnings and continue to guide them along the way. There’s no better way to seize this day than with Sun Life Philippines.

Evolving with the times

Despite innumerable speedbumps brought about by the global health crisis, leading life insurer Sun Life quickly adapted to the changing landscape, including newfound goals among its millennial clientele.

The company’s financial advisors, in particular, have enjoyed an influx of newcomers who are also millennials. Hand in hand with insurance pioneers, they have thus far proven themselves versatile in serving customer needs.

For them, migrating to online platforms was not a handicap, and conducting business remotely was instead viewed as a boon.

Sun Life Financial Advisor and Phoenix Palm New Business Manager Jayvee Badile.
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“Digital innovations now take the forefront of the industry. With no-office setup and flexible time operations, the insurance industry is a very viable career option, especially for young people who were nurtured in an environment where the line between the physical and the digital is thin,” said Sun Life Financial Advisor and Phoenix Palm New Business Manager Jayvee Badile in an exclusive interview with Philstar.com.

Realigning financial priorities

As a millennial himself, Badile understands his fellow millennials in their novel pursuits, most notably in financial responsibility.

While their attitude of “living in the moment” is still prevalent, he observed that financial responsibility had been a growing interest in the last few years, more so amid pandemic.

“Even outside the scope of traditional insurance, I believe millennial clients see financial stability as a priority. In the financial needs assessment portfolio, they prefer to prepare early for life milestones. This means buying a car, starting a business, building a house, or even starting a family,” he shared.

“In a nutshell, I would say our millennial clients prefer portfolios that give them optimum financial benefit at the end of their paying years. Although the consciousness for health insurance also peaks, investments still remain the go-to topic of discussion of the younger generation as far as I can tell,” he added.

Not a ‘phase’

These unusual times have inspired in millennials the need to rethink and restart.
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These emerging trends are no accident, as these are fueled by necessity and intent. As a generation that champions personal freedoms, it’s not surprising that financial independence is part of their endgame.

What’s more, millennials have found themselves in an opportune time and place for informed financial choices, given the bevy of resources at their fingertips, coupled with the ease of access afforded to them by new technologies. 

“Ultimately, this growing engagement is a sign that young people aim to build better lifestyles than how we saw it in the previous generations. By evaluating the challenges faced by families and friends before, I believe we are more conscious and calculated in the decisions we make now,” Badile said.

Financial inclusivity

Sun Life, in its 126-year run in the industry, has an array of well-thought-out services that accommodate the various financial journeys of each customer, especially in these challenging times.

“We help our clients take stock of their finances through a thorough financial needs assessment so we can make suitable recommendations that take into account their capacity, priorities and goals for the future,” Badile shared.

He added that they have options for insurance and investment that comprehensively cover all their clients' needs at very affordable and flexible rates.

Millennials are adopting novel pursuits, most notably in financial responsibility.
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For those at the beginning of their journey, for example, Badile recommends the Sun MaxiLink Prime, an investment-linked life insurance plan that offers a combined benefit of insurance protection and investment. It provides financial security and peace of mind as you grow your money over time.

He also cites SUN Fit and Well as Sun Life’s most comprehensive health and wellness insurance product with a savings component.

There are many other products that can address the specific needs of millennials but the bottom line is insurance is essential because it helps protect the insured from uncertainties and prepare for milestones in life.

“This is arguably the most challenging phase of our lives, but now is not the time to quit. This is the time when real champions emerge from the pack, when opportunities present themselves as challenges. Take heart, push forward, and turn your face towards the sun. As long as you are doing your best for yourself and your loved ones, then you are on your way to that sweet success story that you are building,” Badile concluded.

 

For more information on how you can begin securing your own financial goals, visit the Sun Life website at https://www.sunlife.com.ph.

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