PRODUCT REVIEW: Buying and Activating Your Sun Life Prosperity Card

Sun Life Asset Management Company, Inc. (SLAMCI) launched last February the Sun Life Prosperity Card in Bacolod City and Iloilo City (See Sun Life Prosperity Card – A New Way of Investing). It is the company’s latest offering in making mutual fund investing easy, affordable and accessible.

The Sun Life Prosperity Card is a gift card pre-loaded with P5,000. It can be bought from Sun Life Financial centers or one may inquire from their SLAMCI mutual fund representative.

I have previously posted on this blog on how to order the Sun Life Prosperity Card (SLP Card), and how the process of buying and activating the card (read here). I myself is a SLAMCI mutual fund investor and mutual fund representative so, I decided to buy one to check the ease of buying and activating the card.

 

Buying the Card

One can buy the card online by logging in at sunlifeprosperity.com.ph, or from Sun Life Financial Stores. I bought mine from the Sun Life Financial Store in Iloilo, located at General Luna St.

There, I was asked to fill up a Purchase Form and present a valid government-issued ID. I paid the P5,000 to purchase the pre-loaded card and additional P50.00 as sort of processing fee. After filling up and paying, the customer service associate encoded my information to their system for registration. The entire process took around 5-10 minutes.

 

The Prosperity Card

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The Sun Life Prosperity Card Kit

The Prosperity Card Kit comes in a transparent plastic pouch showing the Prosperity Card at the top side. The kit contains the card, a gift card and a white envelope.

 

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The Gift Card. One can write messages to the person you are giving the gift to.

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The SL Prosperity Card. The Card No. is necessary to activate your card online.

 

Online Activation

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To activate the card, one needs to login at sunlifeprosperity.com.ph. If you don’t have an account yet, you need to create one.

 

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After login, you would be directed to the homepage. Since I already have my card, I only needed to click the Activate Card button.

 

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I filled up online forms of the Investors Information, Investor profile Questionnaire and Order Form.

 

After filling up the online forms, I waited for about 2 days for my MF order to be credited to my account. I had to call up the Customer Care hotline to verify if they received my investment. Apparently, I forgot another important step. 🙂

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Submit a signed Order Ticket to the nearest Customer Service Office. For the Source of Fund, tick the box for “Other Sources” and write Prosperity Card. you would need to give your Prosperity Card to the Customer Service associate for swiping.

 

It’s quite fast actually. There are fewer forms to sign compared to opening the mutual fund the traditional way. You can buy the card as a new client or as a subsequent investment if you are a SLAMCI client already.

I do hope however that the process could do away with submitting a physical Order Ticket since I already filled up the online form. That way, the entire process could be done fully digital. At the moment, the card is a one-time loaded card. You need to buy another one at P5,000 if you want to make subsequent investment through buying the card. of course, you can make subsequent deposits the traditional way (submission of order tickets, submission of photocopy of IDs, etc) at P1,000 minimum subsequent deposits. SLAMCI could also consider making the Prosperity card reloadable.

I opened a Sun Life Prosperity Philippine Index Fund with the card I bought. I activated my card last March 18, and yeah, my P5,000 is already earning. 🙂

 

You may also read:

The Sun Life Prosperity Card

Do you have questions? Feel free to contact me.

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