MANILA — Sun Life of Canada (Philippines), Inc. has launched Sun Life FlexiRetire, a retirement solution designed to help business owners build income streams independent of their companies.
The launch addresses a key finding from a Sun Life-commissioned study showing that six out of 10 business owners plan to retire as part of their medium-term goals, yet most rely on traditional savings methods like bank accounts and government contributions.
“We want to help business owners achieve their retirement goals by providing an alternative solution that can address this specific financial need,” said Cary Casipit, Sun Life Philippines Client Segment Marketing Head.
Sun Life FlexiRetire is an option under Sun Life Secure Income, a participating, limited-pay whole life insurance product providing guaranteed annual cash benefits equal to 6% of the face amount from the 6th policy year until age 100.
The FlexiRetire option allows annual guaranteed cash payouts and potential dividends to accumulate until the client’s predetermined retirement age. Once reached, cash benefits are paid annually within the client’s chosen payout period.
“This can serve as an additional income stream for business owners during their retirement years, independent from the funds tied to their company. It can help ensure a smoother succession process, as it helps future-proof their business for generations to come,” Casipit said.
For more information:
- Connect with a Sun Life advisor: www.sunlife.co/Talk-To-An-Advisor
- Product details: www.sunlife.co/Sun-FlexiRetire
