Sun Life unveils new critical illness protection plans

Sun Life unveils new critical illness protection plans | Insurance Business Asia

Life & Health

Sun Life unveils new critical illness protection plans

Lineup highlights need to eliminate waiting periods

Life & Health

By
Roxanne Libatique

Sun Life has introduced the SunWell Series, a new suite of critical illness protection plans, across Asia.

This lineup features SunWell Advanced Care, SunWell Supreme Care, and SunWell Essential Care. The series integrates environmental, social, and governance (ESG) investing into a whole life protection plan, providing comprehensive critical illness coverage at various stages.

What to expect from Sun Life’s SunWell Series

Each of the three plans is designed to serve distinct client segments. Features include the following:

Comprehensive coverage: The plans cover 188 diseases and 38 complex surgeries, addressing medical issues for all age groups, from paediatric to elderly, including early-stage and major illnesses.
Waiting period exemption: Sun Life has waived waiting periods for cancer, stroke, and heart attack claims. If a policyholder initially suffers from cancer and later has a stroke, no additional waiting time is required between claims.
Gender-focused protection: SunWell Supreme Care provides benefits specific to men and women by covering 12 illnesses particular to each gender.
Premium waiver: The SunWell Series includes a waiver of 24 months of premiums following diagnoses of juvenile or early-stage critical illnesses.
Simplified underwriting: SunWell Essential Care simplifies the underwriting process for those with a history of heart attack or stroke, focusing only on cancer-related questions.

These plans are structured to meet diverse client needs through a combination of core and optional features.

Both SunWell Supreme Care and Advanced Care extend coverage to 226 illnesses and surgeries, including premium waivers and restored benefits for early-stage claims.

SunWell Series focuses on eliminating waiting periods

Christine Yeung, general manager, life and health at Sun Life Hong Kong, emphasised the series’ role in eliminating waiting periods.

“As medical technology advances every day, the success and survival rates of cancer treatment are increasing. However, cancer patients are more likely to get heart attack or cardiovascular disorders than non-cancer patients, while heart attack also increases the risk of stroke. Unfortunately, most of the existing insurance plans in the market have waiting periods between Major Stage Critical Illnesses, posing a risk of coverage interruption for patients during these waiting periods,” she said. “Therefore, Sun Life has introduced the SunWell Series of comprehensive lifelong critical illness protection plans, with no waiting period across diagnoses of different major 3 critical illnesses.

“Designed to cater to the unique health needs of clients, this plan offers three products that provide comprehensive and customised critical illness protection, dedicated to safeguarding clients and their loved ones at every stage of life.”