Foresight Deferred Annuity Plan

In Hong Kong, the Insurance Authority has introduced the Qualifying Deferred Annuity Policy (“QDAP”) to help encourage people to make more voluntary retirement savings contributions and create long-term stability. With QDAP, you1 can apply for a tax deduction of up to HKD60,0002 per taxpayer each year of assessment for the premiums paid with minimum premium payment period of 5 years. Ultimately, the more you save, the bigger the potential for growth over time, which will help provide greater peace of mind in your retirement years.

Our Foresight Deferred Annuity Plan is a QDAP certified by the Insurance Authority that helps you save more for retirement through tax deductions. The plan provides stable annuity payments and a promising growth potential up to age 100, helping you to achieve your retirement goals and lifelong financial security.

Highlights:

With wide choices to fit your retirement needs, you can choose flexibly before issuance:

  • Premium payment term 5 or 10 years3
  • Annuity Start Age4 Age 50, 55, 60, 65, 70, 75 or 80 (as long as your premiums have accumulated for a period between 10 and 50 years)
  • Annuity Period4 10, 15, 20 years, or to age 100
  • Guaranteed Monthly Annuity Payment Any amount starting from USD125(subject to the minimum annual premium requirement)
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Stable income stream in Annuity Period with Guaranteed Monthly Annuity Payment

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Promising growth potential provided by Non-guaranteed Monthly Annuity Payment5, which is funded by the accumulated Reversionary Bonus5

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Worry-free application process without medical underwriting6

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Flexible Death Benefit Settlement Option for your family should the worst happen7

Limited Time Offer

Catch the limited time offer for HK$150 voucher*

Plan ahead and add up the numbers along the way. 

Meet with one of our advisors, register a new account at Retirement Journey Planner for free and follow the specific requirements on or before 31 August 2021 for a HK$150 gourmet voucher*!

  • Track your retirement gap with the upcoming Retirement Journey Planner! Start Planning
  • Discover your retirement savings goal and shortfalls in 3 steps with Retirement Calculator. 

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*Offer is subject to terms and conditions. 

The following terms and conditions apply to the offers (“Offers”). By participating in the Offers, the participants understand and expressly agree to be bound by these terms and conditions

a. The Offers are only available during the respective offer periods stated above.

Participation outside the offer periods is not eligible.

b. The employees of Sun Life are eligible to participate.

c. The financial advisors of Sun Life are not eligible to participate

d. Participants need to complete all aforementioned steps in order to participate.

e. No transfer, assignment, cash redemption or substitution by participants is permitted. Sun Life, may at its sole discretion, reserves the right to substitute the voucher (or part of the voucher) with an alternative gift with the equal monetary value and/or specification.

f. Sun Life is not the supplier of the voucher. Any enquiry or complaint for the quality related to the e-coupon or service provided should be directed to the relevant service provider or other third parties. Sun Life shall assume no liability in respect thereof. The service provider is solely responsible for all service offered to participants.

g. The use of the voucher shall be subject to the terms of conditions of the voucher / service provider.

h. If for any reason the Offers are not capable of running as planned, due to an event of force majeure or any other cause outside Sun Life reasonable control, Sun Life reserves the right, at its sole discretion, to cancel, terminate, modify, or suspend the Offers without prior notice.

i. Voucher will be given out in a first-come-first-serve basis, maximum 3,000 eligible participants.

j. Participants will be contacted by email or SMS for voucher redemption within two weeks after Offers period and completion of all aforementioned steps.

k. Sun Life reserves the right to amend the above terms and conditions without prior notice. In case of any dispute arising from this Campaign, the decision of Sun Life shall be final and conclusive.

 

  1. In this webpage, “you” refers to the Policy Owner of this plan and “Policy Owner” refers to the person named as Policy Owner in your Policy Summary. For the purpose of this plan and its related documents, Policy Owner shall also be the insured as well as the annuitant who receives the annuity payment.
  2. HKD60,000 is the maximum tax deduction limit per taxpayer each year of assessment. It is an aggregate limit for qualifying annuity premiums  and tax deductible MPF voluntary contributions. Tax deduction under salaries tax and personal assessment from premiums paid under this plan is subject to the prevailing tax law of Hong Kong and your individual circumstances. Please refer to “Tax Implication of QDAP” section of the product brochure for details of key risk factors.
  3. Prepayment service is not allowed under this plan
  4. Annuity Start Age and Annuity Period cannot be changed once the policy is issued.
  5. The Non-guaranteed Monthly Annuity Payment is determined and payable based on the accumulated Reversionary Bonus. The Non-guaranteed Monthly Annuity Payment as well as the Reversionary Bonus are non-guaranteed and are subject to change from time to time at the sole discretion of Sun Life Hong Kong Limited. They 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 are not limited to, claim experience, policy expenses, taxes, and Policy Owner termination experience. If there is any change to Reversionary Bonus and Non-guaranteed Monthly Annuity Payment, total IRR will be affected. Under this plan, withdrawal of any cash value of accumulated Reversionary Bonus is only allowed after the end of premium payment term. After the end of premium payment term, such withdrawal will decrease the face value and cash value of the accumulated Reversionary Bonus, and the future Non-guaranteed Monthly Annuity Payment.
  6. Simplified underwriting will be required if the total premium paid per insured’s life is more than USD2,000,000. Full underwriting will be required if the insured attaches rider benefit(s) to this policy. The application process is subject to the then current administrative rules.
  7. The Death Benefit Settlement Option may be exercised subject to a minimum amount of Death Benefit and the minimum amount is determined by Sun Life from time to time.

The above information is a product summary only and does not contain the full terms and benefits of the policy, please contact your Advisor for details. 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 product summary, the Policy Document shall prevail.

Download Brochure


View bonus philosophy.

Additional benefits:

Accident Benefit is an optional rider benefit that you can add to your Sun Life insurance plan1.

In the unfortunate event due to an accident that the insured, who is the person protected under the Basic Plan, passes away, a lump-sum payment on top of the Basic Plan coverage will be paid to the beneficiaries. The amount of Weekly Indemnity Benefit and Accidental Injury and Total Disability Benefit will be doubled if the insured is a passenger in a public transport conveyance over an established land route or in an elevator for passenger (elevators in mines and construction sites are excluded) when an accident occurs, or in a burning theatre, hotel or other public building before a fire starts.

If no claims are paid for 12 months before renewal, the amount of Accidental Injury and Total Disability Benefit will be topped up by 10%, accumulate to a maximum of 50% of the original Sum Assured.

 

Remark:

  1. This rider benefit can only be attached to designated basic plans (“Basic Plans”). Please contact your Advisor for details.

The above information is a product summary only, please contact your Advisor for details. Please refer to the respective product leaflet and Policy Document for details including definitions, full terms and conditions, and exclusions. If there is any conflict between the Policy Document and this product summary, the Policy Document shall prevail.

 

Download product leaflet of Accident Benefit

For more information, please visit Hospital Income Insurance Plan 

Living Master Benefit/Living Master Extra Benefit is an optional rider benefit that you can add to your Sun Life insurance plan1.

If the insured, who is the person protected under the Basic Plan, is diagnosed with any one of the 48 designated critical illnesses, a lump-sum payment equivalent to 100% of the benefit amount will be paid. In addition, you can enjoy a peace of mind with the extra coverage from Recurring Benefit, Life Stage Benefit, and Value-added Benefit.

You can also attach the optional rider benefit, Multi Protection Benefit to have more comprehensive critical illness protection with the multiple critical illness claims.

 

Remark:

  1. This rider benefit can only be attached to designated basic plans (“Basic Plans”). Please contact your Advisor for details.

 

The above information is a product summary only, please contact your Advisor for details. Please refer to the respective product leaflet and Policy Document for details, including definitions, full terms and conditions, and exclusions. If there is any conflict between the Policy Document and this product summary, the Policy Document shall prevail.

 

Download product leaflet of Living Master Benefit / Living Master Extra Benefit

For more information, please visit SunHealth Medical Care

For more information, please visit SunHealth Medical Premier

For more information, please visit SunHealth Medical Essential

One Year Term Benefit/ Five Year Term Benefit is an optional rider benefit offering essential life protection at an affordable premium. It is guaranteed to be renewable up to age 80, giving you peace of mind. You have the option of converting all or part of the Sum Assured of the One Year Term Benefit/ Five Year Term Benefit into a whole-life basic plan with the same or lower Sum Assured to enhance your flexibility to allocate your resources when other obligations arise.

In an unfortunate event that the insured, who is the person, covered under this policy, passes away; a Death Benefit will be paid to the beneficiaries in a lump sum to help them manage their financial needs. Once the Death Benefit has been paid out, the policy will be terminated.



Remark:

  1. These rider benefits can only be attached to designated basic plans. Please contact your Advisor for details.

 

The above information is a product summary only, please contact your Advisor for details. Please refer to the respective product leaflet and Policy Document for details including definitions and full terms and conditions. If there is any conflict between the Policy Document and this product summary, the Policy Document shall prevail.

 

Download product leaflet of One / Five Year Term Benefit

Total Disability Benefit is an optional rider benefit that you can add to your Sun Life insurance plan1.

 

With Total Disability Benefit, the future premium of the Basic Plan and all eligible rider benefits2 attached will be waived3 in the unfortunate event that the insured, who is the person protected under Total Disability Benefit, becomes Totally Disabled4 before the age of 60. The premium waiver will continue as long as the insured remains Totally Disabled. That way, you can continue to have protection and benefits under your Basic Plan without having to pay the premium while you’re unable to work.

 

If no claims are paid for 12 months before renewal, the amount of Accidental Injury and Total Disability Benefit will be topped up by 10%, accumulate to a maximum of 50% of the original Sum Assured.

 

Remarks:

  1. The rider benefit can only be attached to designated basic plans (“Basic Plans”). Please contact your Advisor for details.
  2. Please contact your Advisor for eligible rider benefits.
  3. If the insured recovers from Total Disability, the premium waiver will end.
  4. Totally Disabled means that the insured is (i) continuously disabled for a period of no less than 6 consecutive months; (ii) continuously unable to carry on his/her own occupation in the first 2 years of disability and to carry on any occupation thereafter (for those who have no regular occupation, it means complete inability to carry on any occupation); and (iii) under the regular care and attendance of a doctor. Total and irrecoverable loss of sight in both eyes or loss of two limbs is automatically deemed as Totally Disabled. Please refer to the Policy Document for details.

 

The above information is a product summary only, please contact your Advisor for details. Please refer to the respective product leaflet and Policy Document for details including definitions, full terms and conditions, and exclusions. If there is any conflict between the Policy Document and this product summary, the Policy Document shall prevail.

 

Download product leaflet of Total Disability Benefit

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