Most of us would work hard, save and invest for our family’s future, ensuring that when someone “graduated” in this world or life, our loved ones will be left with treasures. These inheritance or “pamana” can be in a form of property, heirlooms, investments and other things. But little did we know that these treasures cannot be easily inherited. Would-be heirs are usually caught by surprise to find out that they have to pay an estate tax to the government before they can claim their inheritance. What if the heirs are not fully capable to pay this estate taxes?
Estate planning essentials
Since the planning factor is there, by the time we start to think for our family and loved ones’ future, why not incorporate it with a plan that would ease their burden for the estate tax dues? Estate planning, as defined is for anyone who wants security for their heirs and are well provided to cover the taxes imposed by the government on their estate after death. If you were unable to carefully do your estate planning during your lifetime, you assets may just end up frozen by the government, and the burden to your heirs may just pile up.
Sun Life’s SUN Smarter Life
Sun Life recently introduced the SUN Smarter Life program as part of their estate planning campaign. This is a protection product that provides double life insurance coverage until age 100, while the insured lives, thereby insuring a financially secure future for the family no matter what happens. Just in case the insured pass away, the insurance proceeds for SUN Smarter Life can be used by the heirs or beneficiaries to settle the estate taxes.
The product provides living benefits in the unfortunate event of terminal illness or emergencies. Supplementary benefits that provide additional protection against contingencies such as accidents, disability and illness may be added to the plan for a minimal amount.
Charo-Santos Concio’s legacy
One of the entertainment industry’s icon and Chief Content Officer of giant media network ABS-CBN, Ms. Charo-Santos Concio, shared the same vision for an estate planning. Ms. Concio is publicly known when she started as an actress, does approximately 40 movies, received various acting awards and nominations, produced a couple movies and TV shows, before shifting her career to Production Director then rising up as Executive Vice-President. Ms. Charo-Santos Concio also received numerous citations awards not only from the entertainment world, but also from the business and private sector.
Through the years, Ms. Concio wisely invested for her loved ones such as properties, heirlooms and other form of investments. By planning ahead, she ensures that the legacy she has built through time will be enjoyed fully by her family. Ms Concio said,
“These are not simply assets but my “pamana” to my ‘apos’. This is why estate planning is very important to me. Thankfully, I have SUN Smarter Life to help me ensure that no matter what happens, my loved ones will be well taken care of and will not be burdened with estate taxes.”
Upon shaping her career and legacy, she also noted:
“I place a high value on professionalism and excellence. But at the same time, I also believe in the importance of having a nurturing heart. More that all the accolades and tangible successes I’ve had in the industry, it is the legacy of these values that I wish to impart to other people.”
She added:
“SUN Smarter Life makes wealth preservation easy. It also gives me peace of mind knowing that when my time comes, my assets will efficiently be transferred to my family. “
She concluded:
“By preparing early, utilizing the right instruments, and with the help of Sun Life, I am confident that my family will feel my love through the legacy I will leave behind.”
For other information, kindly visit http://www.sunlife.com.ph
