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“If you’re gone tomorrow, will your loved ones be all right?”— this question was asked by Prof. Enrique Soriano, a family governance advisor, board director, and estate executor during the media launch of Sun Life’s newest product, the Sun Life Premiere Legacy, a comprehensive financial solution designed for affluent Filipinos seeking structured wealth preservation and multi-generational continuity.
Sun Life Premier Legacy is a comprehensive financial solution designed for affluent Filipinos seeking structured wealth preservation and multi-generational continuity.
This product launch comes at an opportune time because of the country’s growing number of HNW (high net worth) individuals.
According to Carla Gonzalez-Chong, Sun Life’s chief client experience and marketing officer, prior to launching the product, they commissioned a market study where they found out that 81 percent of Filipino wealth holders fear their wealth won’t be preserved beyond the next generation.
The same study found that only 18 percent feel fully prepared with any legacy placement in place. Only 6 percent have completed and actually communicated their legacy plan to the heirs or successors, while 25 percent admitted they have nothing in place at all. “This is not really a lack of awareness but more of a preparedness issue, where successors and heirs feel overwhelmed and don’t know where to start,” Gonzalez-Chong said.
Gonzalez-Chong further explained in her talk that 64 percent worry their heirs won’t be financially equipped to manage inherited wealth, 49 percent fear family disputes over assets, and 41 percent cite market volatility as a threat to preserving value.
Meanwhile, Prof. Soriano, relayed a number of life lessons he personally experienced in his years of dealing with HNW clients, “Say a parent passed away, and you inherited the wealth, and you don’t even have an iota of a plan in mind, that wealth will disappear before you even blink. I’ve seen it many times,” he said. One particular example was of a founder who passed away and the family inherited P40 million, which they spent on a trip to Europe.
“It boils down to good parenting. It boils down to how the founder will be able to preserve his hard work. It boils down to how the founder will make sure that the children will not be entitled.”
Sun Life Premier Legacy is designed for individuals who have built significant wealth and want to protect their legacy. This plan gives one control over how and when one’s assets will be passed on to the next generation, while providing the insurance protection and liquidity one’s estate needs.
Whether one is securing the family’s future, preserving one’s estate, fulfilling business commitments, or supporting charitable causes, Sun Life Premier Legacy helps ensure one’s wealth moves forward.
The Sun Life Premier Legacy is structured around three strategic pillars:
Wealth Protection and Legacy Architecture is designed to preserve estate value, maintain business continuity, and provide liquidity at critical transaction points. The product’s Legacy Settlement Option provides unprecedented flexibility in insurance benefit distribution, allowing policy owners to directly address concerns about their heirs’ financial readiness and wealth preservation discipline.
Governance and Continuity Planning ensures seamless transitions and clear decision-making protocols if the policy owner becomes incapacitated. The product’s Mental Incapacity Benefit, specifically, enables a pre-designated trusted individual to access defined benefits if the policy owner loses capacity to manage his plan due to illness and injury, ensuring family interests remain protected during vulnerable transition periods.
Philanthropic Structuring enables systematic charitable contributions aligned with family values and long-term social impact objectives. This addresses the 43 percent of respondents who want to incorporate philanthropy into their legacy.
JJ Moreno, country head and CEO of Sun Life Philippines, said that Filipino families recognize the importance of legacy planning, with 77 percent saying that ensuring family financial security is a top priority. “However, most haven’t translated that awareness into action,” Moreno said. “That is why this isn’t simply a product launch. With trillions in wealth set to transfer across Asia, and Filipino families expressing clear anxiety about preservation and preparedness, Sun Life Premiere Legacy positions us as the partner equipped to guide families through this complexity with sophistication, discretion, and foresight.”
For more information on Sun Life Premier Legacy, visit www.sunlife.co/PremierLegacy. Alternatively, you may talk to a Sun Life advisor via www.sunlife.co/TalkToAnAdvisor to learn more about how the solution can support individual wealth transfer and legacy planning needs.
