Sun Life pays P6.5-B death, living benefits

Published May 13, 2022, 3:11 PM

by Chino S. Leyco

Sun Life Philippines (Sun Life) paid about P6.5 billion in death and living benefits last year amid the prolonged pandemic.

In a statement, Benedict Sison, Sun Life Philippines chief executive officer and country head said on Friday, May 13, that the payout of claims and maturities fulfilled the promise to their clients, especially during the most challenging of times.

“They can trust that Sun Life will always be here as their partner for life,” Sison said.

Meanwhile, Sun Life also maintained its leadership in the insurance industry for the 11th consecutive year, finishing 2021 with a total of P45.46 billion in Total Premium Income.

Apart from leading the life insurance industry in premium income, Sun Life also performed well in New Business Annual Premium Earnings, Assets, Net Income, and Net Worth.

“I am proud to say that Sun Life was the only company that ranked in the top three for all these core metrics. It’s important for us to deliver a strong performance to ensure that we continue to fulfill our lifetime commitment to our clients just as we have for the last 127 years,” he added.

At the forefront of this commitment are Sun Life’s advisors, who engage clients through digitally-enabled selling and servicing capabilities.

They continuously upskill to ensure that they can adapt to the changing times, as well as their clients’ evolving needs, Sison said.

To help advisors in fulfilling this mission, the company has innovated its service to provide safer and more convenient ways to transact with Sun Life.

Several payment options and channels were made available for clients’ convenience, such as the credit card payment feature on the My Sun Life Client Portal, bills payment and auto-debit via bank and e-wallet partners, as well as the Sun Life Online Payment Page via the Sun Life website.

The Remote Online Medical Exam likewise remains available for those applying for new policies or reinstatement, while claims may be filed remotely through their Sun Life Advisor, the Client Care hotline, or Claims Services via email or SMS.

For further convenience, the company also promotes the use of the Credit to Account, a facility where clients can receive their disbursements through their validated bank accounts.

“At Sun Life, we want to be the Number 1 in the hearts of our clients. This is why we continuously strive to meet our obligations and provide the best service possible,” Sun Life of Canada (Philippines), Inc. President Alex Narciso said. “Our clients deserve nothing less, and it is our privilege to deliver.”