Sunlife Grepa launches dollar fund

MANILA, Philippines - Sun Life Grepa Financial Inc. (SLGFI) has launched the Sun Grepa Power Builder Dollar 1, a US dollar-denominated equivalent of its single-pay investment-linked life insurance product.

It is designed to maximize the earning potential of dollar funds by investing them in high-yielding global funds that best matches both investment and financial protection objectives.

SLGFI president Richard Lim said that Sun Grepa Power Builder Dollar 1 is suited for dollar fund investors seeking wealth accumulation instruments with a  medium to long-term investment outlook, and financial protection through life insurance.

“It aims to grow the dollar assets of SLGFI customers at a rate that is potentially much higher than instruments currently available in the market. Unlike other products, it does not have upfront charges so the earning potential of the client’s funds is optimized from the very start,” Lim said.

The chief executive said that Sun Life believes that the dollar will strengthen or remain strong as a result of the continued recovery of the US economy.

This, in turn, presents a tremendous investment opportunity for dollar fund investors looking for an investment alternative.

“The product’s life insurance protection feature provides a life protection coverage that is equivalent to at least 125 percent of the premium less any withdrawals made up to age 88. As the value of their dollar investments grow, policy owners are also able to secure the financial protection needs of their loved ones.” Lim added.

Unlike some of the other investment-linked life insurance products in the market, the application for Sun Grepa Power Builder Dollar 1 is very easy because it includes a built-in guaranteed insurability offer and thus no medical examinations are required except for certain limitations set by the company.

“We want to make sure that the product would be beneficial to a wider age group. As it is, older people often feel intimidated or discouraged from applying because of the additional requirements, even though the need becomes greater as one matures. We want people to know that even as they grow older, applying for our Sun Grepa Power Builder Dollar 1 is still possible.” adds Lim.

SLGFI is a joint venture bancassurance company between Grepalife Financial of the Yuchengco Group of Companies and Sun Life of Canada Philippines (SLOCPI) of the Sun Life Financial Group of Companies. 

This partnership, shared between the owners of Grepalife Financial and the management of SLOCPI, creates a synergy of life insurance operations experience in the Philippines.

Sun Life is the leading life insurance company with total premiums of over P30.7 billion as of end 2014.

SLGFI infuses over a century’s expertise in its individual and group life protection and wealth management products.

It offers to secure the financial protection needs of Filipino families through over 200 SLGFI and SLOCPI branches and more than 250 RCBC bank branches nationwide.