Sun Acceler8 Plan for your Child’s Educational Fund

Sun Acceler8 is a 20-year maturity protection and savings plan. It provides you with increasing life insurance benefits to keep you safe from life’s uncertainties. It also provides regular guaranteed cash benefits that can be used as a way to pay for your child’s education and other school-related obligations.

How does Sun Acceler8 work?

Sun Acceler8 aims to assist you in reaching your financial goals. It has a paying period of 8 years where you get to receive guaranteed & non-guaranteed benefits from the plan allowing you to secure your family’s future & earn extra income as well.

What are the benefits of Sun Acceler8?

Life Insurance Coverage

Sun Acceler8 offers life insurance coverage for 20 years that increases by 16% of the Face Amount yearly until the 8th year of the plan. From 100%, your life insurance coverage goes up to 228% of the Face Amount starting on your 9th policy year.

sun acceler8

Guaranteed Cash Benefits

Sun Acceler8 entitles you to receive cash benefit of 8% of the Face Amount starting at the end of the 8th policy year and every two years thereafter. The best thing about this plan is this cash benefit increases by 2% of the Face Amount every other year until your policy matures at the end of the 20 years.

sun acceler8 cash benefit

Maturity Benefit

In case life insurance coverage is not claimed at the end of the 20th policy year of Sun Acceler8, you will be receiving the Maturity Benefit of this plan amounting to 102% of the Face Amount.

Non-guaranteed Cash Benefits

Sun Acceler8 entitles you to receive Special Paid-up Bonus at the end of 8th policy year, plus Dividend earnings onwards. These cash benefits are not guaranteed as it depends on Sun Life’s performance. The good thing about these extra benefits is you have the option to receive these in cash or leave them with the company to accumulate.

Supplementary Benefits

This plan also gives you an option to add additional benefits or supplemental riders for added peace of mind from contingencies such as accidents, disability, and illnesses.

Limited Payment Period

You only need to pay for this plan for only 8 years. If you pay in annual term, you can get a huge discount of around 12% versus paying in semi-annual, or quarterly term.

Sun Acceler8 Sample Illustration

If you are a father who is 30 years old & non-smoker, looking for an educational plan perfect for your 1-month old daughter, this sample illustration is perfect for you. You see, the best time to really save up for your child’s education is when he or she is a newborn. Some parents plan for this even before their child is born.

In this sample illustration, your daughter has an initial life insurance coverage of Php 500,000.

And this life insurance coverage will increase by 16% of the Face Amount yearly until the 8th year of the plan, giving her coverage of up to 228% of the Face Amount starting on the 9th policy year.

YEARLIFE INSURANCE COVERAGE
Year 1Php 500,000
Year 2Php 580,000
Year 3Php 660,000
Year 4Php 740,000
Year 5Php 820,000
Year 6Php 900,000
Year 7Php 980,000
Year 8Php 1,060,000
Year 9 onwardsPhp 1,140,000

The plan also has supplementary benefits of:

Waiver of Premium upon Death or Disability of Initial Owner – this waives the premium dues of the initial owner during his total disability before age 60 or in case of his sudden death before the attainment of age 21 by the life insured child or end of premium paying period of the plan.

Living Benefit Rider – this gives the owner/insured an option to claim 60% of the basic Face Amount in advance if the life insured is diagnosed to be terminally ill with a life expectancy of 12 months or less.

Other optional benefits that can be added to this plan are:

Accidental Death Benefit

Total Disability Benefit

Critical Illness Benefit

Hospital Income Benefit

With basic premium of Php 102,430 for the life insurance coverage and supplementary benefit premium of Php 3,021.69, you will be having a total yearly premium of Php 105,451.69.

Now let’s look at the saving component of this plan.

By the end of 8th policy year, you can already receive your first Guaranteed Cash Benefit Payout of 8% of the Face Amount which is Php 40,000. Take note that this cash benefit increases by 2% of the face amount every other year until the plan matures at the end of year 20.

You also have the option to leave these funds with the company and just let it accumulate. This is the beauty of this guaranteed insurance w/ savings plan. The only way for your funds to grow is up. Compare with VUL plans that offers non-guaranteed savings, VUL funds can potentially go up & down depending on the market performance.

Going back to this plan, by year 20, assuming you leave the funds with the company at 4.2% accumulation rate, you can potentially receive a total of Php 605,997 endowment benefit.

sun acceler8 endowment sample computation advisor tine

Aside from this endowment benefit of this plan, you are also entitled to receive Non-Guaranteed Dividends starting at the end of the 8th policy year and onwards. You also have the option to leave it with the company and let it accumulate giving you a total dividend earnings of Php 172,589 by year 20.

sun acceler8 dividends sample computation advisor tine

As a reward for fully paying the policy, you are then entitled to receive Special Paid-Up Bonus at the end of the 8th policy year which you also have the option to let it accumulate with the company.

sun acceler8 paid up bonus sample computation advisor tine

And lastly, assuming you let your all your funds (endowment, dividends, paid up bonus) accumulate throughout the duration of your Sun Acceler8 policy contract, by the end of 20 years, you get a total living & maturity benefit of Php 1,350,280.

And thats roughly 61% potential interest gained for 20 years.

Plus the fact that you are insured for 20 years, you have peace of mind that no matter what happens, you & your family’s future are secured.

Is this something that you also want for yourself & your child(ren)?

Who can get Sun Acceler8 plan?

Now, who is this plan for?

Sun Acceler8 is for people who are looking for low-risk financial products or those who are conservative but want their money to earn higher returns than time deposits.

This plan is also perfect for you if you have a child who is less than 1 year old because this can also be used for his/her educational funding.

Interested to get Sun Acceler8 plan?

advisor tine

P.S. Want to look VUL plan as an option for educational funding? Click here.

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