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News releases

February 22, 2024

Sun Life celebrates 132nd anniversary with launch of newly-upgraded SunGift Global, introducing time-limited premium discount coupons of up to HK$1,800

Hong Kong, February 22, 2024 – Sun Life celebrates its 132nd anniversary today, a historic milestone in Hong Kong’s insurance industry. Sun Life remains committed to meeting the needs of its Clients through new product solutions, continuing to fulfil its purpose of helping them achieve lifetime financial security and live healthier lives. To commemorate this significant achievement, Sun Life is pleased to announce the launch of the upgraded SunGift Global, along with a time-limited promotion. As part of this offer, Clients can receive premium discount coupons with a maximum value of HK$1,800.

SunGift Global is a participating insurance plan that offers long-term savings and growth potential with a focus on investment opportunities that excel in their ESG qualities. As an upgraded SunGift with 2-Pay or 5-Pay premium payment terms, features include:

1) Flexible ways to transfer legacy  

  • The plan can cover 1 insured (Single Life policy) or 2 insureds (Joint Life policy). A Joint Life policy ensures that the policy endures even if one insured passes away unexpectedly. With the Change of Coverage Option and Change of Insured Option, Clients can pass down their legacy with ease and flexibility1.
     

2) Hassle-free inheritance allocation

  • Allocate inheritance through the Policy Split Option2 and Continuation Option3,4 that enable seamless wealth transfer without added fees. Furthermore, by equipping with various currency allocations, wealth can be accumulated and passed down through generations.  
     

Christine Yeung, General Manager, Life and Health of Sun Life Hong Kong Limited, said, "In recent years, there has been a rising trend in demand for participating insurance products with trust-like functions. To address this, we are launching SunGift Global, which offers the most comprehensive legacy planning functions in the market. This plan not only captures long-term potential growth but also provides flexible features to serve the unique needs of legacy planning. Looking ahead, we also have plans to launch new critical illness insurance products in the second quarter of this year in response to the growing need for critical illness coverage."

To express our gratitude for the unwavering support of our valued Clients, those who purchase a designated savings plan from now until April 30 will receive 4 premium discount coupons, with the highest-value coupon being HK$1,800. These coupons can be used for buying designated life, medical and critical illness policies, valid until June 30, 2024. The premium discount coupons are applicable to all sales channels.

Christine concluded, “This year marks the 132nd anniversary of Sun Life. As the first international insurer in Hong Kong, we have been a leader and pioneer in the city’s insurance market. We anticipate that the market will steadily recover in 2024, with our life and health business growing organically since last year, showcasing significant demand for our products. We continue to maintain close connections with our Clients to better understand their needs over time and so provide the most suitable products.”

For more information about the SunGift Global, please visit: https://www.sunlife.com.hk/en/insurance/savings-and-life/sungift-global/.

END

Photo Caption: In celebration of its 132-year milestone in Hong Kong, Sun Life is pleased to announce the launch of the upgraded SunGift Global, along with a time-limited promotion, as a token of gratitude for the unwavering support from Clients.

Remark:

1. If the benefit term is extended due to the exercise of the Change of Insured Option or Change of Coverage Option, the amount of Guaranteed Cash Value beyond the original maturity date will not be less than the amount on the original maturity date before the change.

2. The application for Policy Split Option can be made once per policy year only. Upon approval of a Policy Split, the policy year, maturity date, policy currency, policy owner, and insured(s) of the Split Policies will be the same as the Original Policy. No cooling-off period is available for Split Policies. The Notional Amount of Split Policies cannot be less than the minimum amount requirement. An application for a Policy Split cannot be withdrawn or changed once the Policy Split is approved.

3.  If this option is selected, the beneficiary must be a living individual.

4.  Requests are subject to our approval. The New Policy will take effect from the Continuation Option Effective Date.

a. The Policy Date and the policies years of the New Policy will be the same as the Original Policy

b. The Maturity Date of the New Policy will be changed to the Policy Anniversary on or immediately following the New Insured’s 120th birthday.

c. The Notional Amount, total premiums due and paid, outstanding amount of any loans and interest, and the policy values of the Original Policy, including Guaranteed Cash Value, accumulated Reversionary Bonus (if any), Terminal Bonus (if any) and the amount in the Value Lock-in Account (if any) will be allocated to the New Policy according to the designated percentage to the corresponding beneficiary according to your instructions.

d. There is no cooling-off period for the New Policy, and

e. For the purpose of counting the applicable period under the Incontestability provision, the relevant period will commence from the Continuation Option Effective Date for the New Insured.

About Sun Life

Sun Life is a leading international financial services organization providing asset management, wealth, insurance and health solutions to individual and institutional 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, Mainland China, Australia, Singapore, Vietnam, Malaysia and Bermuda. As of December 31, 2023, Sun Life had total assets under management of $1.4 trillion. 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.

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 the product brochure and sample Policy Document for details including definitions and full terms and conditions including key product risks. If there is any conflict between the Policy Document and this press release, the Policy Document shall prevail.

 

Media Contact

Sun Life Hong Kong Limited

Joey Hui

Tel: (852) 3183 2737

Email: joey.ky.hui@sunlife.com

Weber Shandwick

Juliana Li

Tel: (852) 2533 9973
Email: JLi2@webershandwick.com