Showing posts with label Retirement Planning. Show all posts
Showing posts with label Retirement Planning. Show all posts

Sun MaxiLink Prime: Insurance with Investment

From the time I decided to learn how I can be able to grow my savings as I shared in my very first post, I immediately got a Savings and Investment plan with Sun Life. My family and loved ones got this too. And recently, I received my Anniversary Statement of Account from Sun Life that I have been a client for a year now and counting. Thank you, Lord!

It feels great knowing you have set aside for your future's needs specially if this is your starter plan, right? And you don't need to have big savings to start, I will share more of it with you later.

Meet Sun MaxiLink Prime, it is one of the best products of Sun Life Financial. Why? Because part of your deposit is invested in a Mutual Fund type of investment. Not only you and your family are protected from unforeseen event but also, you can be a potential millionaire with your savings as you can expect a higher return compared sa nakasanayan natin sa bank savings account. You can use the fund value as retirement or health fund or for any other long-term goals.

What is Sun MaxiLink Prime?

Sun Maxilink Prime's newest brochure

From Sun Life's website:

Sun MaxiLink Prime
The Sun MaxiLink Prime is a peso denominated variable life insurance plan that provides financial protection PLUS a potential source of savings that can fund future needs like retirement income through its investment earnings. There are 5 funds to choose from where your premium payments will be invested in. These funds are managed actively and prudently by our top-notch investment professionals. Sun MaxiLink Prime is payable for at least 10 years*

* The premium paying period is not guaranteed. You may be required to pay additional premiums after 10 years if the fund value is insufficient to pay charges.

Therefore, Sun MaxiLink Prime is a Variable Universal Life or Variable Unit-Linked Insurance or commonly called VUL plan. When a policy owner deposits premium, part of it pays for the insurance charges and a portion is invested in Mutual Funds managed by professional fund managers. You have the option which fund you want to invest in: Equity Fund, Balanced Fund, Bond Fund, My Future Fund, Growth Plus Fund and Index Fund. But be sure you know your goals, time horizon and risk tolerance first. 

To explain further, watch this video about Variable Unit Linked (VULs) like the Sun Life MaxiLink Prime as explained by Aya Laraya of Pesos and Sense:

How much do you need to save?

As I have mentioned earlier, you don't need to have a large amount of money to get this plan. If you can save at least Php 1,500 monthly or Php 750 every salary cutoff, then you can enjoy its benefits.

For Php 52/day? Yes, owning this plan is affordable right? But what if, you can save a higher amount? Then, you can have higher benefits as well.

What benefits can you get from Sun MaxiLink Prime?

Lets say you're 30, Male, non-smoker and you want to save Php30,000 yearly or Php2,500 monthly or Php82 a day

These are the benefits you can get: Guaranteed Protection of Php1 Million with Total Disability Benefit and in case of Accidental death, additional Php500,000.

Sounds good? But wait there's more!

Additional benefits you can attach to your plan are:

  • Accidental Death, Dismemberment and Disablement (benefit if there's an accidental bodily injury which result in loss/losses of body parts or if you're permanently and totally disabled for 12 months)
  • Critical Illness Benefit (if diagnosed with any of the 36 critical illnesses)
  • Hospital Income Benefit (daily hospital income of Php1k up to a maximum of 1,000 days)
  • Waiver of Premium upon death of initial owner (if the insured is a child)
  • Waiver of Premium upon death or disability of initial owner  (if the insured is a child)

And yes, this insurance with investment plan will answer two possible hazards:

If you are head of the family (or you have dependents) and you have dreams for your loved ones, in case of death (if God forbids) your dreams won't die with you when you do. How? Because your Sun MaxiLink Prime plan will take care of your family's needs because of the guaranteed protection worth Php1 million plus whatever amount of the fund value.

For example:
If something happens to you on the 4th year of the policy (wag naman sana), your beneficiaries may claim Php 1 million plus fund value amounting to Php 80,220 (at 8% projected annual return) or Php 83,812 (at 10% projected annual return). In case of death due to accident, additional Php 500k will be given to your loved ones.

This will answer the problem of retirement or money for your old age. For your total savings of Php300k (Php30k yearly for 10 years saving period), these are the projected future fund value that you may use as retirement fund or health fund or fund for any long-term goals:

Lets say, you want to retire and enjoy what you have accumulated after 25 years (at age 55), you may get Php 1,001,451 (at 8% projected annual return) or Php 1,474,334 (at 10% projected annual return)

How about if you want to retire after 30 years (at age 60)? You may enjoy Php 1,446,715 (at 8% projected annual return) or Php 2,349,451 (at 10% projected annual return)

How about if you want to retire after 35 years (at age 65)? You may reap the rewards of saving worth Php 2,079,482 (at 8% projected annual return) or Php 3,738,990 (at 10% projected annual return)

That you may use to buy your food, medicines, pay hospital check-ups etc. Isn't it great?

Not only that, since emergencies do happen whether you like it or not, you can withdraw partial amount in your investment fund but be sure not to get the total amount so you will still be insured until the age of 88.

*Investment fund values are calculated assuming the fund is earning 4%, 8% and 10%. But based on the completed years (as of Dec. 2015), Equity Fund averaged at 13.27%, Balanced Fund at 10.71% and Bond Fund at 6.29%.

If you are a breadwinner, OFW or young professionals, you may consider getting this as your starter plan. It is better to have it earlier than to be sorry.

Get Sun MaxiLink Prime while you are healthy and young. The premium is affordable and you have all the time in the world for your investment to grow more.

If you just started working or you're in your early 20s, now is the best time. You will be thanking me (or kahit hindi na) because you won't have regrets at all. Believe me! 

Are you still in your 20s, 30s or 40s? It's not too early nor too late!
Are you still in your 50s? Hey, you still have 10 years to save for your retirement. Get this plan now!

Request for a FREE Sun MaxiLink Prime proposal.

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Do you need Financial Planning consultation? This is absolutely free of charge and no obligation. You may contact Jacqui, who will journey with you towards a secured financial future, through the following:

Mobile numbers/viber: 0933-2014898 (sun) / 0916-4385451 (globe)
Email address: /
Twitter: @jacquinoynay

You may also request for an appointment in our office in Sun Life Royal Poinciana NBO 15F Frabelle Business Center, 111 Rada St. Legaspi Village, Makati City. Let me know what schedule works for you so we can meet there.

If you think this will add value to your loved ones, share it to them!