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Bryan Villarosa Presentation of Group INSURANCE and Life Insurance Sun Life in the Philippines

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I placed a sketch in this PowerPoint which highlights the effects of a family with the absence of a breadwinner- especially noting the ill effects it can give to the children. To help address this issue, we at Life Insurance can step in and contribute to one of the solutions for our future citizens to have an emotionally-stable life.

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Bryan Villarosa Presentation of Group INSURANCE and Life Insurance Sun Life in the Philippines

  1. 1. SUN LIFE FINANCIAL Hervias National High School
  2. 2. 1. Psychological Research 2. Our Trainor’s Life Story
  3. 3. How Certain Will Death Come? “And just as it is appointed for man to die once, and after that comes judgment” -Hebrews 9:27
  4. 4. Clean up Fund- Re-adjustment Fund- Family Dependency Fund- Leaving a Legacy Educational Fund- CReFaLEER
  5. 5. 10 One of the biggest in Canada • Established 1865 (153 yrs old) • With approx CDN$571 billion assets under management as of March 2013 • Global 100 Most Sustainable Corporations in the World for the for the past 5 years - Davos World Economic Forum in Switzerland Impressive Financial Strength • A.M.Best A+ (Superior Rating) • Moody’s Aa3 (Excellent Financial Strength & Stability) • Standard & Poor AA- (Very Strong Claims Paying Ability Who is Sun Life Financial?
  6. 6. 11 FIRST and OLDEST life insurance company in the Philippines • In existence since 1895 • No. 1 life insurance company in the country • With operations in the area of mutual funds • Listed in the Philippine Stock Exchange • Php20.2 billion in gross premiums for 2012 • Over 700 employees; 4,500 advisors • Joint venture with Grepalife with a 49% ownership Who is Sun Life Financial?
  7. 7. 12 Insurance Commission https://www.insurance.gov.ph/statistics/life/ 2017 Top 1: Sun Life P32 Billion Income
  8. 8. 13 Insurance Commission https://www.insurance.gov.ph/statistics/life/ 2017 Top 1: Sun Life P6.9 Net Income
  9. 9. 14 Plan Definition 5Plus plan is a group life insurance program that insures employees of small to medium companies, standard nature of business that employ between 5 to 50 people.
  10. 10. 5Plus Group Insurance Program for the EMPLOYEES of Luis Hervias National High School ___________________________
  11. 11. 16 Benefits Group Yearly Renewable Term Insurance (GYRT) with supplementary riders: 1. Accidental Death, Dismemberment & Disability (ADD&D) 2. Total & Permanent Disability Income (TPDI)
  12. 12. 17 Amount of Insurance
  13. 13. 18 Amount of Insurance shall be paid to beneficiaries for loss of life of the insured employee. Group Yearly Renewable Term (GYRT)
  14. 14. 19 Features of the plan: • 24 hour coverage • On & off the job • No geographic limitation • No medical examination Group Yearly Renewable Term (GYRT)
  15. 15. 20 Suicide Clause Loss of life due to suicide covered after 12 months. (Waived for members with over 12 months coverage) Group Yearly Renewable Term (GYRT)
  16. 16. 21 Provides additional indemnity for loss of life, dismemberment and disability resulting from accidental means. Coverage is 24 hours a day on and off the job. Only members age 18 to 64 will be covered Accidental Death, Dismemberment & Disability (ADD&D)
  17. 17. 22 Schedule of Losses Life 100% Entire sight of both eyes 100% Entire sight of one eye 50% Both arms or both legs 100% Use of both arms or both legs 100% One arm or one leg 75% Use of one arm or one leg 75% Both hands or both feet 100% Use of both hands or both feet 100% One hand or one foot 50% Hearing in both ears 50% Thumb & index finger on the same hand 33 1/3% Accidental Death, Dismemberment & Disability (ADD&D)
  18. 18. 23 Payment shall not be made for a loss which is due to or results from a.homicide; b.suicide while sane or insane, or intentionally self-inflicted injuries; c.bodily or mental infirmity or disease of any kind or infection other than infection occurring simultaneously with and in consequence of an accidental cut or wound; d.committing or attempting to commit an assault, felony or other illegal act; e.war (declared or undeclared); f.active participation in a riot, rebellion, or insurrection; g.injury sustained from any aviation or marine activities, other than riding as a fare-paying passenger in an air or marine device operated by a commercial airline shipping line on a scheduled passenger trip over its established passenger route; or h.poison or carbon monoxide (voluntary or involuntary taken) or drug overdose. Accidental Death, Dismemberment & Disability (ADD&D)
  19. 19. 24 Total Disability – incapacity due to bodily injury or illness that prevents performance of material and substantial duties of any occupation Permanent Disability - disability that has continued uninterruptedly for at least 6 months and is expected to continue for life. Coverage is 24 hours a day on and off the job until age 59. Total & Permanent Disability Income (TPDI)
  20. 20. 25 The insured will receive Monthly Income for Sixty Months at the rate of Ps 20.65 per thousand of insurance coverage. Illustration: Insurance Amount: Ps 100,000.00 Monthly Disability Income: Ps 20.65 x Ps 100,000 1,000 Ps 2,065.00 monthly Total & Permanent Disability Income (TPDI)
  21. 21. 26 Exclusions: D Self - inflicted injuries; D Injury that results from insurrection,civil commotion, hostile action of the armed forces whether or not the life assured was actually a participant. Total & Permanent Disability Income (TPDI)
  22. 22. 27 1.the date this Policy terminates; 2.the date he ceases to be eligible for insurance; 3.the date he enters military, naval or air service; 4.the date he attains age 66 ; or 5.the end of the period for which premiums are paid to Sun Life Philippines for the Member's insurance. Termination of Employee’s Insurance
  23. 23. 28 Sun Life shall issue Proof of Insurance Coverage (PIC) for the insured employees. PIC describes in general the insurance coverage under the group plan. In case of conflict, the provisions of the Policy will prevail. Proof of Insurance Coverage
  24. 24. 29 Employees must fill out EMPLOYEE APPLICATION FORM. This contains basic information about the insured Employee as well as Beneficiary Designation. Employee Application Form
  25. 25. 30 Insured Employees have the right to designate their beneficiaries. Designation of beneficiaries must be made in writing using the Employee Application Form. Beneficiary Designation
  26. 26. 31 Employee Application Form
  27. 27. 32 If no beneficiary is designated, If no beneficiary is alive, If the designated beneficiary is disqualified as ordered by law, the insurance proceeds shall be payable to the first surviving class of the following order: The deceased Employee's 1. widow or widower; 2. surviving legitimate, legitimated, legally adopted and recognized natural children; 3. surviving illegitimate children without distinction; 4. surviving parents; 5. surviving brothers and sisters of the full blood; 6. surviving brothers and sisters of the half blood; or 7. executors, administrators or assigns. Beneficiary Designation
  28. 28. 33 1. Notice of Claim Form 2. Claimant's Statement 3. Attending Physician's Statement 4. Death Certificate 5. Time Cards or Attendance Record NOTE: The above are standard requirements. Additional documents may be required as he claim is appraised. Standard Claim Requirements
  29. 29. 34 1. 5Plus application form 2. List of employees for initial enrolment 3. Full initial premium payment 4. AMLA Requirements Group Life Plan New Business Requirements
  30. 30. 35 Life Insurance + Investments VUL
  31. 31. 36
  32. 32. 37
  33. 33. 38 Benefits: 1. Income Protection 2. Saving for the Future 3. Building for Education Fund 4. Additional Retirement Fund 5. Total Disability Benefit 6. Accidental Death, Dismemberment and Disablement 7. Hospital Income Benefit (Daily) 1. 3 days minimum for sickness 2. 1 day minimum for injury
  34. 34. 39
  35. 35. 40
  36. 36. 41
  37. 37. 42
  38. 38. 43

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