Sun Life Grepa launches group life and health insurance for MSMEs

Sun Life Grepa Financial, Inc. (Sun Life Grepa), a joint insurance company of the Yuchengco Group of Companies and Sun Life Philippines, has launched Smart Care Plus. The new insurance product was developed as a packaged group life and health protection plan specifically for local micro-, small-, and medium-sized enterprises (MSMEs).

MSMEs comprise up to 99.5% of the overall businesses in the country. Logically, such businesses are among the hardest hit by the impact of the ongoing pandemic on the economy.

“With Smart Care Plus, we hope to make it easier for employers to provide affordable insurance and protection for their employees and support them and their families especially now that the outlook of the Covid-19 pandemic is still unknown,” said Sun Life Grepa Healthcare Vice President Peter Miranda.

Sun Life Grepa’s Smart Care Plus is for MSMEs with a workforce ranging from five employees to 200. It is aimed at helping small businesses provide their people with contingencies like sickness, accident, or disability.

 

Comprehensive protection

The new comprehensive group protection package offers robust protection complete with benefits. The Group Yearly Renewable Term Life pays a lump-sum amount in case an individual dies due to any cause (including Covid-19) while employed. The package also includes Total and Permanent Disability Income Benefit; Terminal Illness Benefit; Accidental Death, Dismemberment, and Disablement Benefit; and Medical Reimbursement Benefit.

Smart Care Plus comes with other package options. Those include health benefits like Critical Illness Benefit that provides guaranteed cash benefit in case of diagnosis of critical illnesses like stroke, heart attack, or cancer. The Group Hospital Cash Benefit helps replace the income of employees in case of hospital confinement due to accident or illness.

 

Getting Smart Care Plus

“The financial security of an employee does not solely rely on monetary compensation in his payroll slip. It is enhanced when supported by meaningful employee programs that include preparation and protection against life’s uncertainties,” Miranda said.

Smart Care Plus comes with premium rates that are fit to the budget of MSMEs. The group insurance packages also don’t require a medical examination for every covered employee.

For inquiries, contact any Sun Life Grepa advisor, visit any Sun Life Grepa location, or send an email to groupsales@sunlifegrepa.com.