Sun Life marks 132 years in Hong Kong with upgraded insurance solution
Sun Life marks 132 years in Hong Kong with upgraded insurance solution | Insurance Business Asia
Life & Health
Sun Life marks 132 years in Hong Kong with upgraded insurance solution
Premium discount vouchers also offered
Life & Health
By
Roxanne Libatique
Sun Life is commemorating its 132-year journey in the insurance landscape of Hong Kong by rolling out an upgraded version of SunGift Global, complemented by a promotional offer that includes premium discount vouchers, with values up to HK$1,800 for eligible clients.
SunGift Global upgrade
The updated SunGift Global plan introduces flexible premium payment schedules, including 2-Pay and 5-Pay options, and includes several key features:
versatile legacy management options, accommodating single or joint life policies to ensure continuity in unforeseen circumstances. It features adaptable coverage and insured party options, streamlining the legacy transition process.
efficient inheritance distribution mechanisms through policy division and continuation features, facilitating the intergenerational transfer of wealth without additional costs. This is further enhanced by offering a variety of currency options for asset growth.
Rising demand in trust-like benefits
“In recent years, there has been a rising trend in demand for participating insurance products with trust-like functions,” said Christine Yeung, general manager of life and health at Sun Life Hong Kong Limited. “To address this, we are launching SunGift Global, which offers the most comprehensive legacy planning functions in the market. This plan not only captures long-term potential growth but also provides flexible features to serve the unique needs of legacy planning. Looking ahead, we also have plans to launch new critical illness insurance products in the second quarter of this year in response to the growing need for critical illness coverage.”
Promotional offer
In light of its anniversary, Sun Life announced a special promotion granting premium discount coupons for designated savings plans purchased through April 30.
The most valuable coupon available is HK$1,800, applicable to select life, medical, and critical illness policies until June 30, 2024, accessible through all sales avenues.
“This year marks the 132nd anniversary of Sun Life,” Yeung said. “As the first international insurer in Hong Kong, we have been a leader and pioneer in the city’s insurance market. We anticipate that the market will steadily recover in 2024, with our life and health business growing organically since last year, showcasing significant demand for our products. We continue to maintain close connections with our clients to better understand their needs over time and so provide the most suitable products.”
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