Wednesday, December 05, 2007 Sun Life launches affordable, sachetized insurance packages
WITH accidental death as one of the top five causes of mortality in the Philippines, Sun Life Financial Philippines (SLFP) launches two affordable, ‘sachetized’ insurance products: Lakbay PROTXT and Family PROTXT.
Both are personal accident insurance packages that can be bought in the form of a pre-paid card and activated through short messaging service (SMS).
The ProTXT cards can be purchased alongside mobile phone electronic loads and other ‘sachetized’ amenities. Moreover, Lakbay ProTXT and Family ProTXT are reasonably priced, with premiums of P20 and P200 as its lowest denomination.
These premiums can ensure the future of one’s loved ones, without the burden of an expensive policy that is associated with insurance protection.
The two ProTXT merchandise are also tailor-fit for an individual’s needs and financial capability. With Lakbay ProTXT, the coverage is valid for 15 days with one beneficiary of up to first degree of consanguinity, like the owner’s immediate family. Available for P20, P50 and P100, clients will have the choice of increasing the value of their insurance benefits by availing themselves of top ups that cost P50 each, for an additional benefit of P70,000. The maximum coverage for one life could amount to as much as P300,000.
As the Lakbay ProTXT is more suited for travelers and regular commuters, Family ProTXT offers long-term protection for one year, and is composed of two packages. The first choice insures the whole family, while the second option covers the breadwinner and her or his dependent parents. The Family ProTXT is available in P200 and P500 denominations, with its top ups priced at P50.
“It is with pride that we have opened the doors of financial security and life protection to every Filipino household through the launching of our new affordable and convenient personal accident insurance products,” said SLFP president and chief executive officer Henry Joseph Herrera. “This is our way of reaching out to the C, D, and E markets which represent a swiftly growing middle and lower middle classes, all equally deserving of access to both savings and investment.”
