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Hong Kong, July 27, 2020 – Sun Life Hong Kong Limited (“the Company” or “Sun Life Hong Kong”) today announced the launch of a new participating insurance plan, Victory. Victory offers potentially long-term wealth growth through the Guaranteed Cash Value and non-guaranteed Reversionary Bonus and Terminal Bonus1. With a minimum Notional Amount of USD7,500 (or HKD58,5002), the average monthly premium of Victory is as low as HKD4882,3, making it an affordable wealth management tool for savers, in particular those who are just getting started with savings.
From now until September 30, 2020, eligible clients of Victory may enjoy up to 16% premium rebate on Annualized First Year Premium upon successful application4.
Betty Lee, Chief Product Officer, Life and Health, Sun Life Hong Kong Limited, said, “In the face of market uncertainties, many are keen to explore ways to build a more secure future for themselves and their loved ones. Insurance is often considered a helpful tool for those who wish to take a balanced position, i.e. guaranteed returns over a long period of time while exposure to potential upside gains. Victory is designed to help clients achieve a potential long-term wealth growth while mitigating risk by offering guaranteed return, a benefit that many clients look for.”
Three important features of Victory enable wealth accumulation to help clients achieve their life goals, including savings for retirement and succession planning.
Victory offers potentially long-term wealth growth through the Guaranteed Cash Value and non-guaranteed Reversionary Bonus and Terminal Bonus1. The Reversionary Bonus (if any) will be declared at least once a year starting from the 3rd policy anniversary5. Once it is declared, the face value and cash value become guaranteed and will accumulate with a client’s policy, providing clients with a more stable and foreseeable source of income.
The one-time Terminal Bonus will be declared at least once a year starting from the 8th policy anniversary and come into effect when a policy comes to an end (via policy maturity, surrender, or death of the Designated Insured6).
The optional Value Enhancer is available to clients who pay full premiums at policy issuance8. Under the arrangement of optional Value Enhancer, the Guaranteed Cash Value will be fast-forwarded from the 6th policy year and the guaranteed break-even year of the policy will be five years earlier.
The Premium Suspension Option9 of Victory can help clients overcome financial challenges. In the unfortunate event of forced unemployment or a mandatory full salary suspension for three consecutive months or more, clients of Victory can exercise the Premium Suspension Option to postpone their premium payments.
Sun Life Hong Kong Limited’s Victory helps clients achieve potentially high-term returns.
Note to Editors
About Sun Life
Sun Life is a leading international financial services organization providing insurance, wealth and asset management solutions to individual and corporate 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, 2020, Sun Life had total AUM of CAD$1,023 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. 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.
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. Please refer to a sample Policy Document, which will be provided upon request, for details including definitions and full terms and conditions. If there is any conflict between the Policy Document and this press release, the Policy Document shall prevail.