Insurance companies frequently reject long-term disability claims. Working with insurance companies is not always straightforward, particularly when it comes to receiving LTD benefits. However, your LTD benefits won't be paid until Sun Life has accepted your claim. If your LTD policy was issued by Sun Life Insurance Company and you qualify for benefits, Sun Life is supposed to pay a portion of your income. We are always on the lookout for opportunities,” he said.If you've suffered an illness or injury and can’t work, your long-term disability (LTD) insurance is supposed to assist you. “We are definitely aggressive in terms of M&A. The life insurer posted P52.614 billion in premium income last year.įurthermore, Sison disclosed that the life insurance company has a lineup of potential mergers and acquisitions (M&A) but did not provide further details. Sun Life Philippines has been the country’s top life insurer as it held the top spot in terms of total premium income for 12th straight years. Sison added that the three things that they consider in making financial decisions are: goal, risk appetite and time horizon. Sison explained that Filipino Millennials and Gen Zs do not consider the current market and economic landscape when making financial decisions, like investing and purchasing life insurance products. “The triggers are the children and we really have to take advantage of it,” he said. Sison said the Filipino youth are also the ones convincing their parents to purchase life insurance products. They have more access to the internet they know much more about financial literacy compared to older generations,” he added. “The big thing about Millennials and Gen Z is that they are more digitally savvy.
So if is Gen Z, then their market is also Gen Z,” he said. “And as a financial advisor, your market is your generation. Sison disclosed that Sun Life Philippines’ financial advisors are also getting younger, with Millennials and Gen Zs slowly outnumbering the number of “boomer” financial advisors.
That is why we need to tailor fit our products and solutions to the younger generations – even the way we communicate has to be much better,” he added. “Because as more Gen Zs enter the workforce, that gives us more opportunities. It is a growing market right now,” he told reporters in a recent interview. Sison, however, did not provide exact figures. Sison said the amount of insurance products being availed by Filipino Millennials and Gen Zs have “increased significantly” and is close to accounting for a “huge chunk” of its total insurance products sold. (SL PH), contributing to the firm’s stature as the top life insurer in the country.ĬEO Benedict C. YOUNGER Filipinos, particularly Gen Zs, are now driving a “huge” chunk of availment of the insurance products of Sun Life of Canada (Philippines) Inc.
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