Business Daily Media

Men's Weekly

.

Sun Life unveils suite of enhanced savings insurance plans

SunJoy Global Insurance Plan II, SunGift Global Insurance Plan II and Stellar Multi-Currency Insurance Plan II offer market-leading flexible Death Benefit Settlement Solution, multiple Contingent Policy Owner Arrangement and Interim Policy Owner Arrangement

HONG KONG SAR - Media OutReach Newswire - 3 July 2025 - Sun Life today announced the launch of an upgraded suite of savings insurance products. The upgraded products – SunJoy Global Insurance Plan II, SunGift Global Insurance Plan II, and Stellar Multi-Currency Insurance Plan II – are among Sun Life's most popular offerings. Key enhancements include the introduction of a market-leading1 mix of multiple Death Benefit Settlement Options, multiple Contingent Policy Owner2 and Interim Policy Owner Arrangement2. These upgrades are designed to help Clients capture wealth growth while seamlessly planning their wealth legacy.

Christine Yeung, General Manager, Life and Health of Sun Life Hong Kong Limited, said: "At Sun Life, we're committed to putting our Clients at the centre of everything we do. We understand their evolving needs in wealth accumulation and legacy planning for both the present and the future. The innovative and flexible design of the SunJoy Global and SunGift Global series, along with the Stellar Multi-Currency Insurance Plan, plays a pivotal role in helping Clients shape their wealth legacy and meet increasingly diverse needs. These three upgraded savings insurance plans are equipped with brand-new wealth legacy features, empowering Clients to achieve their financial goals while offering unparalleled flexibility in passing on their wealth to future generations. Moving forward, we will continue to drive product innovation, offering pioneering protection and wealth planning solutions to help the public achieve lifetime financial security."

The three upgraded savings plans are participating insurance plans. The two major enhancements include:

Market-leading flexible Death Benefit Settlement Option

  • Policy owners can mix and match multiple death benefit payout patterns with a Flexible Option, moving beyond package-based death benefit payment options.
  • Policy owners can design their own payout patterns for each beneficiary or choose a designated lump-sum payout upon designated life events of the beneficiary – such as graduating from university, getting married or having a child.
  • If the Designated Insured passes away, the Continuation Option3,4 allows the Original Policy to immediately terminate and a New Policy to be formed, with a beneficiary becoming both the New Insured and the new policy owner5 (if applicable).
Market-rare multiple Contingent Policy Owner Arrangement and Interim Policy Owner Arrangement

  • Policy owners can designate up to three Contingent Policy Owners and designate up to three Interim Policy Owners for one of the Contingent Policy Owners6 in sequence, ensuring the policy's value and wealth is seamlessly passing on to future generations.
  • Interim Policy Owners will hold the policy on behalf of the Contingent Policy Owner until he/she attains the designated age or until the specified date is reached. They will have Restricted Administrative Rights to manage the policy, ensuring the wealth is transferred according to the policy owner's plan.
The product upgrades enable Clients to tailor their wealth management and legacy plans according to their needs. The plans offer a variety of protections targeting different life stages, helping Clients cope with unexpected challenges, including:

Upgraded Product Features
Early Value Lock-in Option7: Starting from the 5th policy anniversary, the policy owner can apply to transfer 10%-50% of the policy's value to the Value Lock-in Account each policy year.
Whole life protection: The benefit term is extended to the whole life of the current insured (for single life) or the younger insured (for joint life).
Enhanced Guaranteed Death Benefit: 105%*/105%-120%** of total premium paid.

[*Only applicable to SunJoy Global Insurance Plan II and SunGift Global Insurance Plan II]

[**Only applicable to Stellar Multi-Currency Insurance Plan II]
Extended Incapacity Benefit coverage8: In addition to being diagnosed as mentally incapacitated, policy owners diagnosed with coma9, major head trauma10 or paralysis11 can have a family member appointed as the Incapacity Benefit Recipient to file a claim.
Extended Waiver of Premium Benefit:

If the insured, who is also the policy owner, is diagnosed as suffering from Total Permanent Disability due to Injury or Sickness before age 70, Client can enjoy Waiver of Premium Benefit12.

If the policy owner, who is not the insured, passes away or is diagnosed as suffering from Total Permanent Disability before age 70 due to Injury or Sickness, Client can enjoy Payor Benefit12.
Academic Achievement Awards: An award is paid based on the insured's academic achievement in the Hong Kong Diploma of Secondary Education Examination, TOEFL, IELTS, International Baccalaureate Diploma Program, Mainland Gaokao, SAT, or upon receiving an unconditional offer of admission to a full-time undergraduate program of the world's top 10 universities.

[Only applicable to Stellar Multi-Currency Insurance Plan II]
Flexible choice of withdrawal currency: SunWallet supports currency exchange in up to 17 currencies, enabling easier 24/7 policy management

From now until July 31, 2025, Clients successfully apply upgraded series of savings insurance products can enjoy the following offers:

  • SunJoy Global Insurance Plan II/SunGift Global Insurance Plan II (5-pay) - Up to 74% of the annualized first year premium#;
  • SunJoy Global Insurance Plan II/SunGift Global Insurance Plan II (2-pay) - Up to 10% of the annualized first year premium#;
  • Stellar Multi-Currency Insurance Plan II - Up to 93% of the annualized first year premium^.
Remarks

1 "Market-leading" refers to the services provided by Sun Life, the data of savings plans of new policies offered by composite and long-term insurers on the Register of Authorised Insurers of the Insurance Authority, and market conditions as of July 1, 2025.

2 This is an administrative arrangement and is not part of the product features. Please see the relevant leaflet and prescribed form for more details on the policy owner rights and the restrictions applicable to the designation of Contingent Policy Owner and the designation of Interim Policy Owner for the Contingent Policy Owner.

3 If this option is selected, the beneficiary must be a living individual.

4 Requests are subject to our approval. The New Policy will take effect from the Continuation Option Effective Date.

a. The Policy Date and the policies years of the New Policy will be the same as the Original Policy.

b. The Notional Amount, total premiums due and paid, outstanding amount of any loans and interest, and the policy values of the Original Policy, including Guaranteed Cash Value, accumulated Reversionary Bonus (if any), Terminal Bonus (if any) and the amount in the Value Lock-in Account (if any) will be allocated to the New Policy according to the designated percentage to the corresponding beneficiary according to the policy owner's instructions.

c. There is no cooling-off period for the New Policy, and

d. For the purpose of counting the applicable period under the Incontestability provision, the relevant period will commence from the Continuation Option Effective Date for the New Insured.

5 The beneficiary will become both the New Insured and the new policy owner if (i) the designated insured who is also the policy owner has died; or (ii) the designated insured is not the policy owner, and the policy owner and the designated insured die at the same time; or (iii) the policy owner dies within 14 days after the death of the designated insured.

6 He/she must be the Designated Insured.

7 The Notional Amount after the Value Lock-in Option is exercised cannot be less than the minimum amount requirement.

8 The irrevocable beneficiary(ies) (if any) and the assignee (if any) must agree in writing to the requested designation of (a) the Incapacity Benefit Recipient; and (b) the Incapacity Benefit Percentage. Any existing Incapacity Benefit Recipient will be automatically revoked when (a) the policy owner designate a new Incapacity Benefit Recipient and the policy owner's request is approved by us; (b) the policy owner is changed; (c) Sun Life HK has been notified that there is a guardian or committee appointed under the Mental Health Ordinance (Cap. 136 Laws of Hong Kong SAR) (or if there is a guardian or committee appointed under similar laws in another jurisdiction); or (d) Sun Life HK has been notified that the policy owner has an enduring power of attorney covering the policy. In the event that there is a dispute between the Incapacity Benefit Recipient and any other person, including but not limited to the insured's guardian, committee, attorney, beneficiary(ies), assignee or in our reasonable belief that there is such a dispute, Sun Life HK reserves the right to withhold the payment of the Incapacity Benefit until such dispute is resolved.

9 Coma means a state of unconsciousness with no reaction to external stimuli or internal needs persisting continuously with the use of life support systems for a period of at least 1 week and resulting in a neurological deficit, which in our medical officer's opinion is of a permanent nature.

10 Major Head Trauma means major trauma to the head with disturbance of the brain function confirmed by definite diagnosis by a consultant neurologist acceptable to us. The disturbance must result in a permanent bedridden situation or the inability to perform without assistance 3 or more Activities of Daily Living.

11 Paralysis means permanent loss of muscular power of both arms or both legs due to the disorder of the brain and nervous system and confirmed by a Specialist in the relevant medical field.

12 This benefit is subject to maximum amount, terms and conditions, pre-existing conditions and exclusions listed in the policy document.

# It includes basic rebate and green offer (guaranteed prepayment interest rate applies and only applicable to policies in United States Dollars). Terms and conditions apply. Please refer to the promotional leaflet for details.

^ It includes basic rebate, Enhanced Rebate and green offer (guaranteed prepayment interest rate applies and only applicable to policies in United States Dollars). Terms and conditions apply. Please refer to the promotional leaflet for details.

Hashtag: #SunLife永明 #永明金融 #SunLife #儲蓄保險 #分紅保險 #財富傳承 #萬年青 #星河尊享 #星河傳承 #永越 #身故保障 #後補保單主權人 #保單暫托人 #savingsinsurance #participatinginsurance #wealthlegacy #SunJoy #SunGift #Stellar #deathbenefit #policyowner #contingentpolicyowner #interimpolicyowner

The issuer is solely responsible for the content of this announcement.

About Sun Life

Sun Life is a leading international financial services organization providing asset management, wealth, and health solutions to individual and institutional Clients. Sun Life has operations in a number of markets worldwide, including Canada, the United States, the United Kingdom, Ireland, Hong Kong, the Philippines, Japan, Indonesia, India, China, Australia, Singapore, Vietnam, Malaysia and Bermuda. As of March 31, 2025, Sun Life had total assets under management of $1.55 trillion. For more information, please visit .

Sun Life Financial Inc. trades on the Toronto (TSX), New York (NYSE) and Philippine (PSE) stock exchanges under the ticker symbol SLF. Sun Life Financial Inc. is the holding company of Sun Life Assurance Company of Canada. Sun Life Hong Kong Limited is a wholly-owned subsidiary of Sun Life Assurance Company of Canada.

News from Asia

Cushman & Wakefield and Corenet Global Release New Survey Results On "What Occupiers Want"

Cost remains king, but talent, flexibility, and service are reshaping real estate strategy globally HONG KONG SAR - Media OutReach Newswire - 2 July 2025 - Cushman & Wakefield (NYSE: CWK), in ...

Chubb Life Hong Kong Launches Chubb 1792 Club: A New Era in Tailored Wealth Management Services

With a legacy of excellence, expertise, and a bold vision, Chubb Life HK is meeting rising demand for sophisticated, future-focused financial planning through bespoke legacy and wealth solutions HO...

Octa broker's take on the upcoming NFP report

KUALA LUMPUR - Media OutReach Newswire - 2 July 2025 - This Thursday at 12:30 p.m. UTC, the U.S. Bureau of Labor Statistics will release its highly anticipated Nonfarm Payroll (NFP) report...

OneMagnify India earns Best Place to Work certification for the fourth consecutive year

CHENNAI, INDIA - Media OutReach Newswire - 2 July 2025 - OneMagnify, a global leader in marketing, data, and technology solutions, has once again been recognized as a Best Place to Work in India ...

BeauEver Secures NZ Prime Minister’s Support in Historic China Summit to Accelerate Global Skincare Expansion

SHANGHAI, CHINA - Media OutReach Newswire - 2 July 2025 - At the 2025 China–New Zealand Trade Innovation Summit, New Zealand Prime Minister, the Right Hon. Christopher Luxon, witnessed the officia...

Central Europe Technologies recognized as one of the Best Places to Work in Romania for 2025

BUCHAREST, ROMANIA - Media OutReach Newswire - 2 July 2025 – Central Europe Technologies has been officially recognized as one of the Best Places to Work in Romania for 2025. Central Europe Techno...

CDNetworks Selected as Strategic Partner by Petrolimex Aviation to Bolster Cybersecurity with AI-Powered Cloud Platform

SINGAPORE - Media OutReach Newswire - 3 July 2025 - CDNetworks, the APAC-leading network to deliver edge as a service, today announced that Petrolimex Aviation, a major provider of aviation fuel...

Trade Crypto Without Purchasing It: Octa Broker About Crypto-CFDs

KUALA LUMPUR, MALAYSIA - Media OutReach Newswire - 3 July 2025 - Crypto volatility poses both potentially spectacular possibilities and enormous risks. For example, by investing in crypto assets o...

Tia Lee Graces the Cover of ELLE Malaysia: A Journey of Empowerment, Evolution, and Expression

HONG KONG SAR - Media OutReach Newswire - 3 July 2025 - Global fashion and music icon Tia Lee (Lee Yu Fen) takes center stage on the cover of ELLE Malaysia, where she reflects on her multifaceted ...

Porsche Design Tower Bangkok Offers a Culinary Voyage into Iconic Living

STUTTGART, GERMANY / HONG KONG SAR - Media OutReach Newswire - 25 June 2025 - Porsche Design Tower Bangkok hosted an exclusive dinner event in a private estate villa in Hong Kong, offering esteeme...

Beyond borders: Building a scalable strategy for international hiring

For many Australian businesses, growth increasingly depends on thinking beyond local borders.  As wage pressures rise, and specialised talent pool...

The Next Generation of Maritime Sustainable Solutions

As organizations globally seek innovative ways to improve sustainability and their impact on Earth, the American Waterways Operators (AWO), a lead...

Demand for Home Batteries surges as Federal Rebate Kicks In

A leading provider of energy solutions VoltX Energy has seen a 400% increase in demand for home batteries in the past three weeks as people put d...

Why Sport Remains the Safest Bet in an Uncertain World

When Rome was in crisis, its leaders did not retreat to the Senate. They went to the circus. To the chariot races. To the gladiators. Sport was no...

THE FINE LINE WITHIN HILARIOUS SIGNAGE DESIGN FAILS

It seems like design failures still occur in today’s modern branding era, despite rigorous rounds of approvals behind the scenes. One signage show...

Deputy Announces Exclusive Global Partnership with Predelo to Bring AI to Shift-Based Businesses

Deputy, the global people platform for shift-based businesses, has announced an exclusive partnership with Predelo, an AI Decision Agent-as-a-Serv...

Sell by LayBy