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[Hong Kong, January 15, 2018] – Sun Life Hong Kong Limited announced the launch of a new annuity product, FlexiRetire Annuity Plan, aiming to give Hong Kong people greater flexibility and control in their retirement planning. With this flexible participating insurance plan, clients can choose to start receiving the Monthly Income any time between the ages of 50 and 80, for 10 years, 15 years, 20 years or until the age of 1001. FlexiRetire Annuity Plan also offers multiple choices of Premium Payment Terms: 5 years, 10 years, 15 years and 20 years.
Clement Lam, General Manager, Life and Health at Sun Life Hong Kong Limited, said, “Pre-retirees’ expectations on retirement have been changing. While more and more pre-retirees in Hong Kong are talking about early retirement, some do not want to stop working completely or even plan to explore other possibilities in their later life. Flexibility has never been more important to people in Hong Kong when they save for retirement. This product was designed to meet the growing demand for flexible annuity plans.”
Coupled with flexibility, retirees also look for greater peace of mind. The Non-guaranteed Monthly Income of FlexiRetire Annuity Plan helps strengthen retirees’ financial positions by giving a boost to their retirement pots. The Non-guaranteed Monthly Income (if any) is funded by Reversionary Bonus (if any)2 which is declared at least once a year beginning from the 3rd policy anniversary. Once it is declared, it becomes guaranteed and accumulated under client policy. This special mechanism enables the Non-guaranteed Monthly Income that clients receive during the Income Period will not decrease each year3.
Applying for FlexiRetire Annuity Plan is simple. We have simplified underwriting procedures in place where clients are required to answer three questions on their health4.
About Sun Life Financial
Sun Life Financial is a leading international financial services organization providing a diverse range of insurance, wealth and asset management solutions to individuals and corporate Clients. Sun Life Financial 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 September 30, 2017, Sun Life Financial had total assets under management of CDN$934 billion. For more information, please visit www.sunlife.com.
Sun Life Financial Inc. trades on the Toronto (TSX), New York (NYSE) and Philippine (PSE) stock exchanges under the ticker symbol SLF.
Notes to editors