Sun Life of Canada (Philippines), Inc., the 2017 top life insurance company in terms of premium income, paid out a total of P3.6 billion in cmaturities and claims in 2017, a strong demonstration of its commitment to fulfil its obligations to its clients.
Of the amount, P1.5 billion were for death and living benefit claims arising from individual life policies (example whole life and VUL policies), while P2.1 billion were payments for matured individual life-insurance policies (example: endowment plans).
“Our clients’ trust is built upon our ability to deliver on our promises—a definitive expression of which is the payment of claims and maturities. As always, it is our honor to fulfill our duty,” Sun Life President and Chief Agency Distribution Officer Alex Narciso said.
Sun Life continues to have one of the fastest turnaround times in the life- insurance industry in terms of claims payment. Just recently, the company increased its threshold amount for speedy death claims processing from P3 million to P5 million. This means that death-benefit checks are ready for release within 3 hours from receipt of claim request at the Bonifacio Global City (BGC) Taguig head office for those with complete and satisfactory claim requirements and following set criteria for speedy death claims.
Kudos to Sun Life!
(Credit to Business Mirror)