Sun Life Grepa launches convertible insurance

MANILA, Philippines - Sun Life Grepa Financial Inc., has successfully launched Sun Grepa ProTerm, an affordable insurance that provides a high level of coverage and a wide array of features for Filipino consumers.

“This is the perfect choice for young professionals and new families who are looking to buy  their very first insurance product,” said Naresh Krishnan, president  and CEO of Sun Life Grepa. “This is an insurance product that’s simple and easy to understand, yet the benefits are aplenty.”

Available at an affordable rate and offered in flexible payment options, Sun Grepa ProTerm provides maximum protection with insurance coverage equivalent to 200 percent of its face amount. The product can also be used to cover an existing loan; or pay mortgage or estate taxes.

Clients can also opt for additional protection by supplementing their plans with the Accidental Death Benefit and Total Disability Benefit riders, both of which are available at a minimal cost.

Sun Grepa  ProTerm  automatically  renews  every five years until the insured reaches the age of 74. This is applied even without a confirmation of insurability so  the  benefits  can still be enjoyed even if the insured’s health condition changes.

As it was intended to address the needs of first time buyers of insurance,

Sun Grepa ProTerm was designed to be conveniently flexible. It affords the client  the  freedom  to  convert  their  policies  into  any eligible life insurance products prior to reaching age 65, once they feel confident about acquiring one.

“We’re definitely excited to bring this to the market and hope that clients will take advantage of all its features,” Krishnan said. “Sun Grepa ProTerm can surely  give them peace of mind and allow them to enjoy their lives to the fullest.”

Sun Life Grepa Financial, Inc. (SLGFI) is a joint venture between GPL Holdings, Inc. (a member of the Yuchengco Group of Companies or YGC) and Sun Life Financial Philippine Holding Company, Inc. (an indirect subsidiary of Sun Life Financial, Inc. or Sun Life).

SLGFI has an exclusive bancassurance  agreement  with  the  Rizal  Commercial  Banking Corporation(RCBC).  SLGFI  offers life protection  products distributed through its agency force and bancassurance channels.