Sun ICU Protect is a limited-pay whole life & health insurance plan that provides benefits to life-threatening conditions that require intensive care and life support. It also insure specific major critical illness conditions and/or surgeries.
It has been almost two years since the start of the Covid-19 pandemic and every time I meet with a client online, I will hear them say how this pandemic made them realize the importance of securing and prioritizing health protection especially in times of uncertainty.
Whenever I browse my social media accounts, I get to see a lot of posts asking for donations or assistance for people who are confined and need funds to pay for hospital bills. There’s even one post that showed a family accumulated more than ₱1 million hospital bill due to Covid-19 infection.
Think about it.
If that happens to you, do you have at least a million or two in your bank account right now?
If your answer is No, where would you get the money to pay the bills? What would be the behavior of your family if that happens?
But if it’s a Yes, is it okay that your life savings would be wiped out in just an instant?
What if I tell you, there’s an option for you wherein you’ll just set aside a small amount of money every year (installment basis) in exchange for a ₱2-Million health fund which you can use in case of critical illness confinement?
So if any health emergency situation arises, you can focus more on your recovery and not be stressed about how you will settle the hospital bills. Most importantly, your life savings would not be wiped out right away. How would that make you feel?
Given the high price of surviving & getting treated for any major critical illnesses, health insurance products continuously evolve to address the changing needs of clients.
Just this November, Sun Life has launched a new health protection product that gives clients a combined benefit of hospital income plan, critical illness plan, life insurance, and preventive health care in ONE financial solution. This aims to address the pressing demand for health coverage on infectious diseases such as COVID-19 or other severe conditions that are equally life-threatening as any critical illness.
I am pleased to share with you Sun Life’s new product, the Sun ICU Protect!
Features of Sun ICU Protect Health Insurance
✓ Wellness Program
You will be part of Sun Life’s GoWell wellness program which promotes holistic wellness through a fit and active lifestyle, healthy eating, and living a balanced life.
✓ Preventive Health Care Benefit
You can actually avail one of the following as part of your prevention health care benefit from Sun ICU Protect health insurance.
- Preventive Medical Examination
- Vaccination (Flu or Pneumonia)
- COVID-19 Screening Test
This can be availed starting on the 2nd year and every 2 years afterwards for the first 20 years (up to 10 availments) at medical facilities appointed by Sun Life.
✓ ICU Benefits
This plan gives you:
- Daily ICU benefit – up to 5 days
- Long term ICU benefit – additional lump sum benefit amount given if confined in the ICU for more than 5 days.
✓ Life insurance coverage until age 100
Unlike Sun Fit & Well, this benefit is still payable even though there’s already a major critical illness or ICU benefit claim from the plan. Yes, that’s correct! The plan is still in force and won’t be terminated even though there have already been series of claims from Sun ICU Protect health insurance plan.
✓ Coverage for 3 Major Critical Illness and a surgery
Sun ICU Protect health insurance plan gives coverage from 3 major critical illness & a surgery:
- Stroke
- Heart attack
- Cancer
- Major surgery for Coronary Artery Bypass Graft (CABG)
✓ Optional Riders for Sun Icu Protect
To make your Sun ICU Protect health insurance plan more comprehensive, you have the option to add hospitalization, accidental, and waiver of premium benefit.
Also, this plan has a built-in rider called Living Benefit rider where the insured can claim a portion of the face amount in case he/she is diagnosed with a terminal illness. This rider is actually also available with our Sun Smarter Life plans.
✓ Savings
Sun ICU Protect health insurance plan gives you:
- Guaranteed cash value that can be availed via loan
- Dividend earnings starting on the 2nd year
- Special paid-up bonus available at the end of your chosen paying period
✓ Limited-pay plan
Even though this is a whole life insurance plan, you can still choose between 5, 10, 15, or 20 years to pay the Sun ICU Protect health insurance plan.
Here’s a sample illustration of Sun ICU Protect.
Sun ICU Protect health insurance plan gives you extra care when it’s most needed. And you have two options in life:
- either you get self-insured in which your main source of funding for critical illness confinement are your personal savings, your income, or investment, if there’s any.
- or you get yourself insured through health insurance plans so you won’t find yourself worrying about how you can pay your hospital bills in case of critical illness confinement.
Sun ICU Protect doesn’t compete with any of your existing health plans, but rather it complements them especially when it comes to life-threatening conditions.
I highly recommend that you assess your current health portfolio if you have adequate coverage. If not, don’t let any unforeseen illness block your path in achieving your financial goals especially during this uncertain time of the pandemic.
If you want to hear more details about this plan, you can send me a message thru the chatbox on the side. And if you find this post helpful & insightful, I would appreciate any comments below. Let’s talk soon! 😊
Your Financial Advisor for Life,
Advisor Tine
P.S. If you are looking for an insurance plan that gives you guaranteed income until age 100, check our Sun Smarter Life Elite plan.
Christine Caranyagan is a Certified Investment Solicitor (CIS), Associate Wealth Planner (AWP), Estate Planner (AEPP), and Agency Leader of the Philippines (AALP). She’s a 2019-2020 Macaulay Club Awardee, and a 5x Medallion Qualifier as a Licensed Financial Advisor.
Her mission is to help fellow Filipino people achieve lifetime financial security & healthier lives.
If you want to learn more about financial planning, you can contact her thru her personal contact number 0935 7368 619, or send her a message here.
