Sun Life introduces Financial Independence Month
MANILA, Philippines – Declaring the month of June as Financial Independence Month, Sun Life of Canada (Philippines), Inc., the country’s longest standing life insurance company, urges Filipinos to prioritize financial preparedness for their health and other needs.
This is in response to the results of a Social Weather Station survey commissioned by the company where Filipinos claim to be prepared to fund expensive purchases, despite having health-related concerns.
The survey showed that 1 out of 2 Filipinos are planning to make an expensive purchase within the next two years, such as land, a house and lot, or a car, or expand their business, with 9 out of 10 actually prepared to fund it.
But at the same time, 7 out of 10 Filipinos are worried about the uncertainties brought about by concerns such as the death of a breadwinner (90%), a family member suffering a grave illness (90%), and inability to pay for huge medical expenses (80%).
Only 6 out of 10 of the respondents say that they are prepared financially in the event of a grave illness in the family.
In order to address the situation and help Filipinos act on their financial concerns, Sun Life is launching the #FIT2LiveFree campaign this Financial Independence Month.
Financial Independence Month activities
To inspire them to take care of both their wealth and health in a fun and interactive way, Sun Life will make available digital content to engage the public. Those who would like to determine their money mannerisms can take the Moneyrism Quiz on Facebook, while those who would like to share their fitness journey can join the conversation on Instagram with the hashtag #WellnessWednesday.
By engaging with fellow wealth and health enthusiasts online, they get the chance to win minor prizes of FitBit wireless activity wristbands and a grand prize of a travel package to Seoul, South Korea.
For those wanting to go on an in-depth learning of personal finance, modular lessons will be offered online in the Brighter Life Institute. Its initial offering is a five-module lesson for those starting their financial journey. The Brighter Life Institute is another pioneering financial literacy effort of Sun Life to reach out to more people online.
Aside from the online initiatives, the public can also attend the #FIT2LiveFree Expo where known personalities such as actor-triathlete Matteo Guidicelli, runner Jaymie Pizzaro, lifestyle blogger Anton Diaz, TV anchor Edric Mendoza, and financial experts Randell Tiongson and Rose Fausto will guide participants in setting their wealth and health goals. These experts will also share tips and inspiring stories on achieving the balance between health and wealth. The event will be held on June 20 at the SMX Convention Center in the Mall of Asia Complex.
All these initiatives will help Filipinos determine the product solutions that will help them achieve the wealth and health goals that they have identified. To address their wealth goals, Sun Life offers the Sun Life Prosperity Funds, which will be promoted in a new TV spot called "Live Free" that encourages Filipinos to invest in their financial freedom. For their health needs, Sun Life has Sun LifeAssure and Sun FlexiLink Assist, to ensure that they have the funds to regain their health, should sickness occur.