Sun Maxilink Prime: Retirement and Long Term Goals

1

Your gateway to a happy retirement and brighter long term goals

Sun Maxilink Prime is one of Sun Life Financial’s products to address an individual’s retirement concerns or other long term financial needs. It is an insurance linked investment product, or more commonly known as Variable Universal Life or Variable Unit-Linked Insurance (VUL).

Ideal for: Breadwinners, young professionals, OFWs. Age: 18 to 65

Photo from Sun Life

ADVERTISEMENT - CONTINUE READING BELOW

How Does Sun Maxilink Prime Work?

Sun Maxilink Prime is an insurance linked investment product. In essence, it is similar to getting a term plan (insurance) + mutual funds (investment). When a policy owner deposits premiums to his plan, part of his premium is allocated to insurance and a portion is allocated to investments.

You can choose where you want your funds to be invested in: Equity, Balanced, Bond or any variation of MyFuture Funds (2020, 2025, 2030, 2035, 2040). CLICK HERE to learn more about these funds.

Benefits of Sun Maxilink Prime: Live too Long or Die too Young?

Since Sun Maxilink Prime is an insurance linked investment product, it addresses 2 major concerns of a Filipino: “What if I live too long, how will I get the funds to sustain my expenses given my limited source of income?” and “What if I die too early? What happens to my dependents? Where will they get their source of income?”

To further expound on these situations, let us illustrate a sample proposal for Juan.
Juan is 30 years old, non-smoker, getting an insurance coverage of Php 2 Million. He has a budget of setting aside Php 5,000 per month or Php 60,000 annually. Total investment is approximately Php 600,000 for 10 years (Maxilink Prime is approximately 10 years to pay)

ADVERTISEMENT - CONTINUE READING BELOW

What if I live too long?

Some Filipinos retire early, others retire later in their life. Either way, when you retire, you need income to sustain your everyday expenses.

  • Assuming Juan retires at 50 years old (20 years after). The total value he can withdraw from his fund value is Php 1,392,245 (8% per annum) and Php P1,858,939 (10% per annum) for his retirement.
  • Assuming Juan retires at 60 years old (20 years after). The total value he can withdraw from his fund value is Php 2,893,430 (8% per annum) and Php 4,698,902 (10% per annum) for his retirement.
  • Assuming Juan retires at 65 years old (20 years after). The total value he can withdraw from his fund value is Php 4,158,964 (8% per annum) and Php 7,477,981 (10% per annum) for his retirement.

What if I die too young?

  • In case Juan dies anytime today until he reaches age 88, his beneficiaries would get a guaranteed amount of Php 2 Million PLUS his current investment fund.
  • In case Juan dies due to accident, his beneficiaries would get an additional Php 1 Million.
  • In case Juan becomes disabled while he is still paying for his premiums, his premiums are waived for the specific period.
Share.

About Author

Money Monkeys

Money Monkeys seeks to educate on topics related to finance, entrepreneurship, and the rising fintech innovations. We provide easy to digest articles with the aim of raising financial literacy, cultivating a growth mindset, and harnessing the spirits of fellow entrepreneurs.

1 Comment

  1. Avatar
    Reyvelson D. Abaya on

    Is there a possibility that my face amount on my policy sun maxilink prime will increase from 500,000 to 1M or 2M. I pay 15k quarterly for my premium. I am male 29 y/o and non-smoker.

error: For viewing only