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Sun Life Hong Kong Launches New Critical Illness Solution

SunHealth OmniCare offers Innovative SafetyNet Protector Benefit

[Hong Kong, February 14, 2019]  Sun Life Hong Kong Limited (“Sun Life”) announced the launch of SunHealth OmniCare, a critical illness solution which provides both in-depth protection and flexibility. The selection of three levels of coverage, together with SafetyNet Protector Benefit, an innovative feature in the market, and an extra protection against benign conditions, allow clients to enjoy flexibility in options of protection based on personal needs and ensure that themselves and their families are well supported.

Belinda Au, General Manager, Distribution and Marketing, Sun Life Hong Kong Limited said, “At Sun Life we are committed to helping our clients achieve lifetime financial security and live healthier lives. Patients diagnosed with critical illnesses face challenges such as high medical bills and loss of income, which bring heavy economic burdens to themselves and their families. To meet the increasing demand for critical illness protection, SunHealth OmniCare was designed to provide clients with a comprehensive protection plan to help prepare them and their families for potential challenges.” 

SunHealth OmniCare covers up to 139 illnesses, and offers three plans (namely “Plan1”, “Plan 2” and “Plan 3”) for selection with total coverage of up to 225%, 1,125%¹ and 1,325%² of the original sum assured respectively.                                                            

On top of Early Stage Critical Illness Benefit, Early Stage Booster Benefit and optional CoverPlus, SunHealth OmniCare has three special features to deliver further protection to clients. In the case of unfortunate and unexpected events, the insured can be relieved from worrying about the medical cost burden and focus solely on the road to recovery.

1. Innovative SafetyNet for coverage against future uncertainty

Unknown, severe illnesses could develop at any time. Under the SafetyNet Protector Benefit, an innovative feature in the market, a maximum of 100% of the Current Sum Assured³ will be provided if the insured undergoes a complex surgical procedure in hospital due to an injury or illness which is not payable under any other benefit in SunHealth OmniCare.

2. Protector benefits against benign conditions

People with benign conditions may have a higher risk of developing cancer. To help clients plan ahead, Plan 2 and Plan 3 offer enhanced protection by providing Benign Extra Benefit and Surgical Excision of Benign Tumour Benefit.

Under the Benign Extra Benefit, an additional 25% of the Original Sum Assured will be paid to the insured who is diagnosed with a cancer, which will otherwise be excluded from coverage under the basic plan as specified in the endorsement. .

If the insured undergoes surgical excision of a covered benign tumour, an additional coverage of up to 10% of the Original Sum Assured will be paid under the Surgical Excision of Benign Tumour Benefit.

3. Multiple extra protection in case of a recurring illness

It is common for a critical illness to strike more than once. Plan 2 and Plan 3 offer multiple protection against cancer, heart attack and stroke. Payments will be made each time the insured is diagnosed with the above three illnesses until the total amount claimed reaches the respective maximum total claims limit of each covered illness. The additional maximum total claims limit of these three illnesses combined is up to 800%¹ of the Original Sum Assured under Plan 2.

Betty Lee, Vice President of Product Solutions, Life and Health, Sun Life Hong Kong Limited, said, “SunHealth OmniCare further enhances the coverage of our critical illness plans, providing clients with timely financial support. At Sun Life we will continually enhance our product suite to address our clients’ specific needs, protecting them at every moment in life.”

From now until March 26, 2019, clients who successfully apply for SunHealth OmniCare and/or optional CoverPlus can enjoy a 5% premium rebate on the annualized first-year premium. The first 200 clients who successfully apply for SunHealth OmniCare with a minimum annual first-year premium of HKD15,000 during the promotion period will be offered a free genetic test⁴.

(From left to right: Belinda Au, General Manager, Distribution and Marketing and Betty Lee, Vice President of Product Solutions, Life and Health, Sun Life Hong Kong Limited)

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About Sun Life Financial

Sun Life Financial is a leading international financial services organization providing insurance, wealth and asset management solutions to individual 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, 2018, Sun Life Financial had total assets under management ("AUM") of CDN$984 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

1. Assumed the first critical illness claim of the policy is not from Cancer/Heart Attack/Stroke.
2. Assumed the first critical illness claim of the policy is under Group 6. For the critical illness group, please refer to the List of Covered Illnesses in the product brochure.
3. Current Sum Assured means the Original Sum Assured, less total amount of Sum Assured paid under Early Stage Critical Illness Benefit. Current Sum Assured will be reduced to zero after the date Sun Life Hong Kong approves a Death Benefit, Major Stage Critical Illness Benefit or SafetyNet Protector Benefit claim.
4. Subject to terms and conditions. Refer to leaflet for details of the 5% rebate on the annualized first-year premium and the free genetic test offer.

This press release is intended to be distributed in Hong Kong only and shall not be construed as an offer to sell or a solicitation to buy or provision of any products of Sun Life Hong Kong Limited outside Hong Kong. This press release is only for reference. Please refer to the product brochure and sample Policy Document, which will be provided upon request, for details including definitions, full terms and conditions, and exclusions. If there is any conflict between the Policy Document and this release, the Policy Document shall prevail.