Sun Life extends premium payment grace periods due to Covid-19 outbreak

(Edited Press Release)

Sun Life of Canada (Philippines), Inc. and Sun Life Financial Plans, Inc. (Sun Life) are extending the grace period for premium payments, amid the ongoing enhanced community quarantine brought about by the Covid-19 outbreak.

True to its commitment to be the Filipinos’ lifetime partner, Sun Life has extended the grace period for late premium payments to 91 days for traditional life insurance policies, variable universal life (VUL) insurance policies, and pre-need plans. The 91-day grace period is counted from payment due date of said policies/plans falling between February 15, 2020 to May 31, 2020.

Benefits and claims
On top of this, Sun Life encourages all its clients to review their policies to see if they are entitled to benefits relating to Covid-19. Clients who have Sun First Aid, Sun First Air Plus, or Hospital Income Benefit rider attached to their policies may avail of the daily hospitalization benefit if diagnosed and confined due to Covid-19.

Those who file claims that meet the definition of a covered critical illness (CI) caused by Covid-19 will enjoy prioritized claim status. Lastly, the beneficiaries of a client may file for a Death Benefit claim in the unfortunate event that the insured succumbs to Covid-19 or any of its complications, provided that he/she is insured under an eligible Sun Life Insurance plan.

To make things more convenient, Sun Life will be accepting soft/digital copies of requirements related to insurance claims, subject to verification and regularization, as needed, from now until further notice.

Message from CEO
“These may be uncertain times but our country has prevailed through many challenges before,” said Sun Life CEO and Country Head Benedict Sison. “We are one with the entire Filipino nation as we forge ahead through these trying times. Let us all stay strong and keep believing that brighter days are on the horizon.”

Clients who wish to contact Sun Life for any inquiry or concern with the company may do so via Facebook or email (sunlink@sunlife.com).

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