Let’s talk about Sun Life Financial or simply Sun Life.
In the Philippines, at least in Metro Manila, when one talks about life insurances, probably the most popular company that comes to mind is Sun Life. It used to be Philam, but ever since the fall of its parent company AIG last year, it seems to be that Sun Life will most likely be occupying the driver seat of the insurance industry in the Philippines for the years to come.
Well, Sun Life, they claim is the first and consequently the oldest insurance company in the Philippines. Being the oldest company means that it has endured the most hardships in the country from World War I to World War II to the credit crunch last year, the Asian crisis in 1997, etc. Being the oldest also makes the company the most experienced and probably most stable for having gone through all those financial storms in history.
Sun Life also has other products besides life insurance. Some time in the late 1990’s, it opened up a new market on mutual funds. Today, it caters to several types of mutual funds ranging from low-risk money market funds, to high-risk equity-based funds.
Besides funds, it also has a market on pre-need where it sells education and pension plans.
The Sun Life Financial company in the Philippines is structured into three subsidiaires. The first is Sun Life of Canada-Philippines (abbreviated as SLOCPI) which administers the life insurance business. The second is Sun Life Asset Management Company (abbreviated as SLAMCI) which manages the mutual fund operations. The third is Sun Life Financial Plans (abbreviated SLFPI) which handles the pre-need market.
Throughout this blog, I will be discussing some of Sun Life’s products, pointing out on key features, watchouts and comparisons among products.
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