VUL Advance 1 - Money for Life and Overview of VUL

In this module, you will review how Sun Life product solutions help our clients achieve their financial
goals through the Money for Life financial planning roadmap. You will also learn an overview of
Variable Unit-Linked (VUL) products.

H ELP PAGE

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IN TR ODUCTION

Learning Objectives

MON EY FOR LIFE AN D SUN LIFE'S PR ODUCT SOLUTION S

Money for Life and Sun Life's Product Solutions

OVER VIEW OF VUL

Sun Life's VUL Products

VUL Product Key Features & Key Bene ts

 Regular Premium VUL

Single Premium VUL

Comparing the Regular Premium VUL and the Single Premium VUL

SUMMAR Y

Summary

ACH IEVEMEN T B ADGE

Congratulations!

R ESOUR CES

Downloadable Module Handout

Lesson 1 of 11

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Next: Learning Objectives
These are what you will be able to do after completing this module.

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Lesson 2 of 11

Learning Objectives

By the end of this module, you will be able to:

Understand Money for Life

and VUL

List the key features and key benefits of VUL

Compare and contrast the
Regular Premium VUL and
the Single Premium VUL

Next: Money for Life and Sun Life's Product Solutions

How does Sun Life deliver its promise? This is through its products & the advisors who comprise Sun Life's
distribution channel.
Lesson 3 of 11

Money for Life and Sun Life's Product Solutions

How do Sun Life's product solutions help Clients achieve their financial needs?

It begins with the Company Purpose:

Sun Life’s PURPOSE

is to help its Clients achieve
lifetime financial security
and live healthier lives.

Sun Life delivers this promise through its products & distribution channel -- the Sun Life Financial Advisors.

This Purpose Statement is connected to Money for Life (MFL).

MFL is the outcome that we aspire for all our clients --- that they will be financially prepared for the many events
that will happen throughout their lifetime.

Watch this short video to review MFL.

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patience.)

Complete the content above before moving on.

Next: Sun Life's VUL Products

Discover the high level overview of the VUL product as a solution that addresses clients' financial needs and goals.

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Lesson 4 of 11

Sun Life's VUL Products

Here is the master blueprint of Sun Life's VUL products.

What is VUL?
 Variable Unit-Linked (VUL) is an investment-
linked life insurance plan that provides protection
and the opportunity to grow savings over time.

VUL is both protection & accumulation. There is insurance and investment.

The insurance protection in VUL, by default, is the death benefit coverage. However, the insurance protection can be
expanded to cover additional RISKS such as accident, hospitalization and critical illness via the Health & Accident
riders.

Click the tabs to learn more about insurance protection and savings/fund value as components of the VUL.

INSURANCE PROTECTION S AV I N G S / F U N D VA L U E

Pays out a minimum guaranteed amount of insurance coverage in case of the Insured’s death*

*Amount of coverage or death benefit varies between Regular & Single Premium VUL
 INSURANCE PROTECTION S AV I N G S / F U N D VA L U E

Accumulates a variable & non-guaranteed amount that is linked to the investment fund/s chosen by the client
Here are Sun Life's VUL products categorized according to the product designs of Regular Premium and
Single Premium, and in Philippine Peso (Ps.) and US Dollars (USD).
 Complete the content above before moving on.

Next: VUL Product Key Features and

Key Benefits
In terms of their key features and key benefits, there are similarities and differences between the Regular Premium
VUL and Single Premium VUL.

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Lesson 5 of 11

VUL Product Key Features & Key Benefits

This high level overview of VUL will focus on this table of key features and key benefits.

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patience.)

Complete the content above before moving on.

Here again are the VUL Product Key Features and Key Benefits at a glance.

Download the PDF.

VUL Product Key Features and Key Benefits PDF.pdf

332.9 KB

C O NT I NU E
Next: Regular Premium VUL
Find out more about the highlights of the usage of a Regular Premium VUL in a client’s financial roadmap.

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Lesson 6 of 11

Regular Premium VUL

How does the Regular Premium VUL help the client?

Highlighted here is the usage of a Regular Premium VUL in a client’s financial roadmap, alongside these terms:

insurance for the unexpected

fund accumulation or investment for the expected

INSURANCE

helps the client to be financially ready for the

unexpected.

Upon the death of the Insured,

the VUL policy will provide money to:

Click each card to learn more.

 Settle final expenses (e.g.
medical, funeral, debts, estate
settlement)

Serve as a family income

fund to cover for their
continuing expenses, despite
the loss of the breadwinner’s
income

 For VUL policies with an accident rider:

In case of death due to accident, the Accidental Death Benefit (ADB) will pay additional
cash on top of the basic death benefit

For VUL policies with health riders:

 In case of critical illness, the Critical Illness Benefit (CIB) will pay lump sum cash to cover
for medical care

In case of hospital confinement, the Hospital Income Benefit (HIB) will pay daily cash to
support medical expenses

INVESTMENT

helps the client to be financially ready for the

expected.

At a specified time in the future, the VUL policy will

provide money* to help achieve an important goal,
such as any of the following:

 *The VUL policy’s fund values are not guaranteed and are directly related to the
performance of the underlying fund/s chosen by the client.

Click each card to learn more.

 Support a child’s higher
education

Start a business venture

Travel and explore the world

 Celebrate a personal
milestone

Purchase a property

Assist a child in starting up

th i f il b i
 their own family or business

Support one’s basic &

lifestyle needs at retirement

Complete the content above before moving on.

Next: Single Premium VUL

What makes the Single Premium VUL an effective wealth transfer tool?

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Lesson 7 of 11

Single Premium VUL

How does the Single Premium VUL help the client?

The use of insurance in the Single Premium VUL is quite different from the Regular Premium VUL. The insurance
portion is what differentiates it from mutual funds (MF) or the unit investment trust fund (UITF). The insurance
portion allows the Single Premium VUL to become an effective wealth transfer tool and a capital protection product
in case of death.

INSURANCE

helps the client to be financially ready for the

unexpected.

Upon the death of the Insured,

the VUL policy will provide money for the:

Click each card to learn more.

 Easy transfer of wealth to
designated beneficiaries or
heirs

Cost-effective transfer of
wealth since the proceeds are
exempt from Estate Tax if the
beneficiaries are irrevocably
designated

Capital protection + 25%,

where the minimum death
benefit is 125% of the single
premium even if the market
underperforms
 INVESTMENT

helps the client to be financially ready for the

expected.

At a specified time in the future, the VUL policy will

provide money* to help achieve an important goal,
such as any of the following:

 *The VUL policy’s fund values are not guaranteed and are directly related to the
performance of the underlying fund/s chosen by the client.

Click each card to learn more.

Support a child’s higher

education
 Start a business venture

Travel and explore the world

 Celebrate a personal
milestone

Purchase a property

Assist a child in starting up

their own family or business
 Support one’s basic &
lifestyle needs at retirement

Complete the content above before moving on.

Next: Comparing the Regular Premium VUL and the Single Premium VUL
The differences between these 2 types of products will be described in terms of the target prospects and their
financial needs or priorities.

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Lesson 8 of 11

Comparing the Regular Premium VUL and the Single

Premium VUL

To recap the overview of VUL, take a look at the Regular Premium VUL and the Single Premium VUL side by side,
to see the difference. The target prospects and their financial needs or priorities will be described for each type of
VUL. This serves as a guide on what product you may recommend to your client.

 

 
 

TARGET CLIENT

Head of the Family (married or single) with dependents

Primary or co-breadwinner in the household

Can commit to pay a series of premiums

 

NEEDS OR PRIORITIES

The target client wants to:

Ensure there is money to secure the family’s daily needs & future dreams, in case of their untimely death

Ensure there is money to pay for any outstanding debts & liabilities, in case of their untimely death

Accumulate funds for long-term goals & milestones; willing to take some investment risk
 

TARGET CLIENT

Individual with funds of at least Ps. 250,000 sitting in bank deposits

Individual already invested in managed funds, bonds or stocks

Individual in these life stages: Preparing Ahead and Leaving a Legacy

 

NEEDS OR PRIORITIES

The target client wants to:

Accumulate funds for long-term goals & milestones; willing to take some investment risk

Diversify their investment portfolio

Preserve their capital for their loved ones, in case of their untimely death

Transfer their cash assets to the next generation, but through an easier and more cost-effective way

Download the PDF.

Regular Premium VS Single Premium.pdf

8.9 MB
 Complete the content above before moving on.

Next: Summary
Review the key takeaways of this module.

LET'S WRAP IT UP
Lesson 9 of 11

Summary

Click each key concept to review.


 

Money for Life

Sun Life's Purpose Statement is connected to Money for Life, which is the outcome that we aspire for all our clients --- that
they will be financially prepared for the many events that will happen throughout their lifetime.
 

Overview of VUL

Variable Unit-Linked (VUL) is an investment-linked life insurance plan that provides protection and the opportunity to
grow savings over time.
 

Here are some of the Key Features of a VUL Product:

1. LIFE INSURANCE: The insured’s beneficiaries will have liquid funds to pay for final expenses.

2. INVESTMENT FUND: The VUL Funds are chosen by the client and are known to beat inflation and grow money over
time to help meet the client’s long-term accumulation goals.

3. DIVERSIFICATION: Each VUL Fund is allocated across different financial instruments, industries & other categories
and is an essential component of reaching long-term financial goals while minimizing risk.

4. PROFESSIONAL MANAGEMENT: The managed funds in VUL are ideal for individuals who do not have expertise
nor the time to manage their investments. The client may pay the premiums either quarterly, semi-annually or annually.

Complete the content above before moving on.

Next: Achievement Badge

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Lesson 10 of 11

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Lesson 11 of 11

Downloadable Module Handout

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VUL_Advance_1_Money_for_Life_and_Overview_of_VUL.pdf
2.4 MB

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