Sun Life Grepa launches life insurance plan with wealth transfer features

SUN LIFE Grepa Financial, Inc. has launched a life insurance plan with wealth transfer features as part of its efforts to grow its high-net-worth segment.

Sun Grepa Premier Legacy aims to protect and preserve wealth as it is structured to maintain estate value and provide familial liquidity needs, the insurer said in a statement on Monday.

The plan provides life insurance coverage equivalent to 200% of the face amount from day one through age 100 to ensure financial stability during transition periods like estate settlement, business succession, or the protection of shared family assets.

The policy also features a Legacy Settlement Option that sets how and when payouts are made to beneficiaries, as well as a Mental Incapacity Benefit, which allows a pre-designated trusted individual to access defined benefits if the policyholder becomes unable to manage the plan due to illness or injury.

The insurer said the plan builds long-term value through potential dividend earnings and comes with benefits like priority service, medical concierge access, and legacy planning forums.

“True wealth is not measured solely by what we accumulate, but by what we are able to preserve and pass on,” Sun Life Grepa President Richard S. Lim said. “Sun Grepa Premier Legacy is designed for individuals and families who recognize that legacy requires intention. It provides a way to protect, grow and transfer wealth efficiently, helping people create more value for future generations.”

Sun Life Grepa posted a premium income of P18.59 billion and net income of P1.6 billion in the first quarter, latest Insurance Commission data showed. — A.M.C. Sy