Hong Kong, October 24, 2022 – Sun Life Hong Kong Limited (“Sun Life Hong Kong” or “the Company”) announced the launch of Stellar (6/12-pay), which will offer clients more flexible premium payment term options to meet different financial needs.
As one of the most comprehensive legacy planning tool in town, Stellar (6/12-pay) offers flexible withdrawl options where clients can opt to withdraw all or part of the cash value of the accumulated Non-guaranteed Bonus1,2(if any) to meet their funding needs at different life stages. Take Stellar (6-pay) as an example, after the end of 6th policy year, client can opt to withdraw 6%3 of the total premiums paid at the first day of each policy year starting from the beginning of the 7th policy year.
As part of the promotion campaign for Stellar (6/12/18 pay), Sun Life Hong Kong invited Coco Chiang, a renowned artist to shoot a series of promotion short videos under the theme of wealth inheritance, which aims to deliver the message of “planting pears for your heirs”. The videos will be broadcast on online platforms starting from today.
Chris Fung, Chief Client and Marketing Officer of Sun Life Hong Kong Limited, said, “We notice that our clients’ demand for wealth inheritance have been increasingly mature, with parents, in particular, seeking comprehensive and flexible legacy planning tools. In response to the market, Stellar offers various options of premium payment to cater for client’s diverse financial needs. As a mother of two, Coco attaches great importance to protecting the future of her children like the other parents and she hopes to continue to work hard for the next generation to save for a rainy day while she is accumulating wealth. It was a great pleasure to have Coco work with us for the first time. We learned about her ideas on wealth inheritance during the shooting, which also reflect the mass public’s demand for relevant products. We are continuously upgrading our products to address their needs and hope our product message could reach a wider audience through this promotional short video. ”
Coco said, “I am delighted to take part in this online video shoot with Sun Life Hong Kong. I chose to partner with them because of their genuine belief in helping clients to achieve lifetime financial security and live healthier lives. It has also provided a good opportunity to better understand Stellar, the first ESG-focused savings plan3 in the market. It has helped me realize that we can contribute to a greener earth while also planning our savings, which is very meaningful to me as I can also teach my children about the importance of sustainability.”
Stellar focuses on investing assets that excel in ESG (environment, society, and governance) qualities. From now until December 31, 2022, if clients successfully apply for Stellar (6/12/18-pay) and such policy is issued by January 31, 2023, up to 18% premium rebate* will be entitled to Annualized First Year Premium (“AFYP”); a total of up to 21% premium rebate* on AFYP will be entitled to the same policy owner if clients also apply for WeHealth Prestige, WeHealth Preferred, WeHealth Plus or WeHealth.
To watch Stellar’s promotion videos, please visit: https://youtu.be/1YqtWSWL-7A
END
Notes:
- Reversionary Bonus and Terminal Bonus are non-guaranteed and are determined in accordance with the rules set out by Sun Life Hong Kong Limited (“Sun Life”) from time to time. The Reversionary Bonus and Terminal Bonus may vary based on the performance of a number of experience factors, with the investment return normally being the main determinant. Other factors include, but not limited to, claim experience, policy expenses, taxes, and policy owner termination experience.
- The maximum and minimum amount of cash withdrawal is subject to the then current administrative rules. The Notional Amount after withdrawal must be subject to the minimum Notional Amount requirement of the corresponding premium payment term in the then current administrative rules; however, starting from the 21st policy year, the remaining Notional Amount cannot be less than the minimum amount of USD500.
- For illustrative purposes only. Any withdrawal which exceeds the remaining balance of cash value of accumulated Reversionary Bonus will be deducted from the Guaranteed Cash Value and the cash value of Non-guaranteed Bonus, which in turn will reduce the Notional Amount of the policy and be deemed as partial surrender and will also reduce the long-term value of the policy. The actual amounts of the cash value and face value of accumulated Reversionary Bonus and cash value and face value of Terminal Bonus payable may be higher or lower than the above illustrated figures. Under some circumstances, the actual amounts of these bonuses may be zero. The Reversionary Bonus and Terminal Bonus may vary based on the performance of a number of experience factors, with the investment return normally being the main determinant. Other factors include, but not limited to, claim experience, policy expenses, taxes and policy owner termination experience. This is a designated example, please refer to the product brochure for the actual situation.
- This is based on market conditions as of April 12, 2022 and comparison among other savings plans for new Composite and Long Term Businesses as defined by the Insurance Authority in the Register of Authorized Insurers.
*Subject to terms and conditions. For details including product features, risk disclosure and investment philosophy, please refer to the product brochure. Please also refer to a sample Policy Document for details including definitions, full terms and conditions and exclusions .
