Maximizing dollar assets can seem like a challenge in the current economy.
Analysts anticipate the central bank rate cuts to continue both in the United States and the Philippines, which means interest rates from bank products, such as US dollar time deposits, could go back to pre-pandemic levels where it was only less than 1%.
Meanwhile, Bangko Sentral ng Pilipinas (BSP) has already reduced the interest rates by another 25 basis points in October, with the next expected cut in December 2024 due to the favorable global and local inflation rates.
With interest rates decreasing at a steady pace, guaranteed returns are also expected to go down in parallel.
To help address this, JJ Book, New Market Development Head of Sun Life of Canada (Philippines), Inc., encourages capitalizing on financial products that can help maximize yields.
“One such product is Sun Dollar Maximizer (ProIncome),” Book says.
A limited-time offer product, Sun Dollar Maximizer (ProIncome) is a single-pay, US dollar-denominated VUL plan that provides insurance coverage equal to at least 125% of the Single Premium, and linked to a structured investment that matures after 7 years. It offers fixed annual income payouts of 3.5% for 7 consecutive years and gives back 100% of the Single Premium at maturity.
“This product offers a unique combination of stable returns and security,” Book said. “With the Sun Dollar Maximizer (ProIncome), you can enjoy potential growth of your wealth, even as interest rates decline. This, while also ensuring your loved ones’ financial well-being with the life insurance component.”
Sun Dollar Maximizer (ProIncome) can be availed of via a hassle-free application and policy approval through Sun Life’s Guaranteed Insurability Offer, subject to terms and conditions.
The product is available until November 18, 2024 only or until the total allocation has been sold out, whichever comes earlier.
To learn more about the Sun Dollar Maximizer (ProIncome), visit http://sunlife.co/sundollarmaxpro or talk to a Sun Life Advisor today.