Generations Life Insurance Plan II

Whole Life Insurance (Business Continuity)

True lifelong protection with savings for generations to come.

 

Without limiting the protection period, Generations II offers you a true lifelong protection and an option for legacy planning that tailors your financial situation. It also provides a comprehensive business protection that helps to mitigate financial impact of loss of key person(s) in your company during the unfortunate events to help in business continuity.

Highlights:

  1. Newly added Accelerated Benefit which covers Terminal Illness1 and Accidental Coma2, helps you take extra comfort during challenging times (Applicable to Generations II - 50 only)
  2. Offers 3 types of premium payment terms: single pay, 5 years and 10 years for lifelong protection
  3. Help you to grow your wealth with 2 types of non-guaranteed bonuses: Reversionary Bonus3 and one-time Terminal Bonus3
  4. With 6 underwriting classes, you will be rewarded with a lower premium if you lead a healthier lifestyle
  5. In case you lose mental capacity to file a claim, the plan supports you through the Mental Incapacity Benefit4
  6. Offers 3 flexible Death Benefit Settlement Options5 for your family should the worst happen
  7. Emergency relief anytime, anywhere with our free Worldwide Emergency Assistance Benefit6

 

Generations II offers 3 plans:

Generations II - 50 offers an affordable life protection and savings along your evolving needs in your life. We understand you might need more protection in your early stage for achieving life goals at affordable price, starting from age of 65 or the 15th policy anniversary (whichever is later), the guranteed portion of Death Benefit will decrease from 100% of Sum Assured by 5% every year for 10 consecutive years to 50% of Sum Assured, and it will be remained at 50% of Sum Assured till the end of your policy; or by total premiums paid, whichever is higher.

In addition, the Accelerated Benefit provides you with the utmost financial support during times of crisis. You can receive 50% of the Death Benefit7,8 in advance in the unfortunate event that the insured is diagnosed with a Terminal Illness1 or Accidental Coma2, up to a maximum of USD2,000,000 per life insured. Should the insured pass away afterwards, the remaining amount of Death Benefit will be paid to the beneficiary.

You may appoint a family member as the Designated Benefit Recipient9 in advance so your family can quickly make a claim against your policy in the event of an emergency without having to navigate complicated legal proceedings.

Generations II - 70 prepares you a balance of life protection and savings along your evolving needs in your life. We understand you might need more protection in your early stage for achieving life goals at affordable price, starting from the age of 70 or the 20th policy anniversary (whichever is later), the guaranteed portion of Death Benefit will decrease from 100% of Sum Assured by 3% every year for 10 consecutive years to 70% of Sum Assured, and it will be remained at 70% of Sum Assured till the end of your policy.

 

Generations II - 100 guarantees a Death Benefit at 100% of Sum Assured for the whole life. It helps you safeguard those who are the most important to you. Enjoy complete life protection throughout the policy, so you and your family can live life carefree. 

  1. A Terminal Illness means the insured is diagnosed as suffering from a condition that, in the opinion of the attending Registered Medical Practitioner and our medical officer is highly likely to result in death within 12 months from the date of such diagnosis.
  2. Accidental Coma means a state of unconsciousness, which resulted from an accident, with no reaction to external stimuli or internal needs persisting continuously with the use of life support systems for a period of at least one week and resulting in neurological deficit, which in our medical officer’s opinion is of a permanent nature. 
  3. The 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 HK”) 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 are not limited to, claim experience, policy expenses, taxes, and policy owner termination experience. And the cash value of Reversionary Bonus and Terminal Bonus might not be equal to their own face value.
  4. It is only appliable if (a) the policy owner and the insured must be the same person at the time you apply for the designation of Mental Incapacity Benefit Recipient; (b) the proposed Mental Incapacity Benefit Recipient must be age of 18 or above;  (c) satisfactory evidence of the proposed Mental Incapacity Benefit Recipient according to our then current administrative rules; and (d) the irrevocable beneficiary(ies) (if any) and the assignee (if any)  must agree in writing to the requested designation of (i) the Mental Incapacity Benefit Recipient and (ii) the Mental Incapacity Benefit Percentage.
    And it will be automatically revoked when (a) you designate a new Mental Incapacity Benefit Recipient and it is approved by Sun Life HK; (b)any change of policy owner of the policy; (c) Sun Life HK has been notified that there is a guardian or committee appointed under the Mental Health Ordinance (Cap.136 Laws of Hong Kong SAR) (or if there is a guardian or committee appointed under similar laws in another jurisdiction); or (d) Sun Life HK has been notified that the Policy Owner has an enduring power of attorney covering the policy.
    In the event that there is a dispute between the Mental Incapacity Benefit Recipient and any other person, including but not limited to the insured’s guardian or committee, attorney, or beneficiary(ies), or assignee, or in our our reasonable belief that that there is such a dispute, Sun Life HK reserves the right to withhold the payment of Mental Incapacity Benefit until such dispute is resolved.
  5. The Death Benefit Settlement Option may be exercised subject to a minimum amount of Death Benefit and the then current administrative rules determined by Sun Life HK from time to time. 
  6. The Worldwide Emergency Assistance Benefit is provided by a third-party service provider. This benefit is not guaranteed to be renewable. Please refer to a sample endorsement, which will be provided upon request, for details including definitions, full terms and conditions, and exclusions.
  7. Once the Accelerated Benefit is claimed, the Sum Assured, Guaranteed Cash Value, any face value and cash value of the accumulated Reversionary Bonus, any face value and cash value of Terminal Bonus, future declaration of Reversionary Bonus and Terminal Bonus, and any future premiums due will be reduced on a pro rata basis based on the amount of the Accelerated Benefit. If Sun Life HK has paid out the Accelerated Benefit, the Death Benefit will be paid based on the reduced Sum Assured if the insured passes away.
  8. If you are eligible to make a claim against both the Accelerated Benefit and Mental Incapacity Benefit due to the same illness, we will pay the approved claim under the Accelerated Benefit first. The Sum Assured will be reduced proportionally based on the amount we paid under the Accelerated Benefit. Any claims under the Mental Incapacity Benefit will be paid from the reduced Sum Assured.
  9. It is only applicable if (a) the policy owner and the insured must be the same person at the time you apply for the designation of Designated Benefit Recipient; (b) the proposed Designated Benefit Recipient and proposed Mental Incapacity Benefit Recipient must be the same person; (c) satisfactory evidence of the proposed Designated Benefit Recipient according to our then current administrative rules; and (d) the irrevocable beneficiary(ies) (if any) and the assignee (if any) must agree in writing to the requested designation of the Designated Benefit Recipient.

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

 

The below disclosure applies to the bonuses of Generations II illustrated in Product Brochure and Proposal:

The projection of illustrated bonuses is dependent on current and ultimate investment yields.  The ultimate investment yields make reference to ultimate interest rate assumptions with an additional margin of prudence adopted by the Company. These assumptions are influenced by actuarial guidance on ultimate risk-free interest rates published by the Canadian Institute of Actuaries, amongst other factors.  The actuarial guidance as of July 3, 2019 suggests ultimate risk-free interest rates between 3.5% to 5.5%.

 

Download Brochure

View bonus philosophy

 

Important Notes on Policy Reverse Mortgage Program ("PRMP")

 

Generations II is an eligible life insurance plan under PRMP, providing you a stable income to improve the quality of retirement life. For further information about the PRMP, please refer to the Hong Kong Mortgage Corporation Limited (HKMC) website: www.hkmc.com.hk or download PRMP leaflet.

Please note that Generations II is an eligible life insurance plan under PRMP, but it does not necessarily mean that your PRMP application will be approved. The eligibility of this product under the PRMP is based on the features of the product. You and your life insurance policy are still required to meet the eligibility criteria under PRMP before you apply for the policy reverse mortgage loan.

The general information provided by us on PRMP is for reference only, and you should not make any decisions based on such information alone. You should always seek for advice from professional bodies if you have any doubts. Please note that the information provided is subject to change including the eligibility criteria for PRMP. We do not take any responsibility to inform you about any changes and how they may affect you. The PRMP is operated by HKMC Insurance Limited, a wholly-owned subsidiary of the HKMC. For further information, please refer to the HKMC website: www.hkmc.com.hk.

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By Apr 30, 2026

  1. Meet with one of our appointed advisors after submitting the enquiry form below and
  2. Complete the eFNA

You will have the chance to receive a HK$100 Starbucks e-voucher!

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*Offer is subject to terms and conditions. First come, first served basis is applied.

The following terms and conditions apply to the offers (“Offers”) from January 1, 2026 to April 30, 2026, both days inclusive (“Promotion Period”). By participating in the Offers, the participants understand and expressly agree to be bound by these terms and conditions. The gourmet voucher is only available during the Promotion Period stated above. Participation outside the Promotion Period is not eligible.

  1. The financial advisors and existing clients of Sun Life Hong Kong Limited (“Sun Life”) are not eligible.
  2. Participants need to complete all the following steps in order to participate (“Eligible Participants”),
    1. fill in the form on Sun Life website; and
    2. meet with the designated advisor and complete the eFNA.
  3. The submission time and status (successful or otherwise) will be based on the records kept by Sun Life . This offer will close after the Promotion Period.
  4. Each mobile phone number and email address can only be submitted once. Any repeated submission will be considered invalid.
  5. The gourmet voucher is provided by On-us Group Holdings Ltd.(“Supplier”); Sun Life is not the supplier of the gourmet voucher (“Gifts”) and shall assume no responsibility and liability in respect of the Gifts.  Any enquiry or complaint for the quality related to the redemption and use of the Gifts should be directed to the service provider. The Supplier is solely responsible for all goods and services offered to Eligible Participants. Any disputes arising from the Gifts shall be resolved by the Eligible Participants and the Supplier directly. In respect of the Gifts and their related products and services, no warranty is expressed or implied. Sun Life specifically disclaims the implied warranties of merchantability and fitness for a particular purpose. 
    1. The redemption and use of the Gifts shall be subject to the terms and conditions of the Supplier 6.
    2. Sun Life will send an SMS or email to the mobile phone number or email address provided by the Eligible Participant for Gift redemption within one month after the Eligible Participant has completed all steps in Clause 2 above. There will be a hyperlink in the SMS or email and by clicking such hyperlink, Eligible Participant will be directed to a webpage maintained by On-us Group Holding Ltd to get the redemption code on the webpage. Eligible Participants shall follow the procedures stated on the webpage and redeem the Gifts from the Supplier before the expiry date as stated on the webpage.
    3. Sun Life is not responsible for verifying the mobile phone number submitted by Eligible Participants for participating in the Campaign. Should there be any mis-delivery of SMS or email notification resulting from inaccurate / incorrect information submitted by the Eligible Participants, Sun Life will not re-issue the hyperlink.
    4. No transfer, assignment, cash redemption or substitution of Gifts by participants is permitted. Sun Life, may at its sole discretion, reserve the right to substitute the Gifts (or part of the Gifts) with an alternative Gift with the equal monetary value and/or specification.
    5. Gifts will be given out on a first come, first served basis. Eligible Participant can be entitled once only.
    6. Eligible Participants will be contacted by email or SMS for gourmet voucher redemption within one month after participation upon the completion of all aforementioned steps.
  6. The redemption and use of the Gifts shall be subject to the terms and conditions of the voucher / service provider. In the event of repeated or inappropriate use of the Gifts by the Client during Promotion Period, Sun Life reserves the right to cancel the Gift without any prior notice .
  7. If the data provided by Eligible Participant is found to be incomplete, untrue, fraudulent, inconsistent, falsified, illegal, deceptive, improper or there is any abusive usage of the Gifts or any violation of terms and conditions of the Gifts or integrity for obtaining this voucher, Sun Life reserves the right to cancel the Gift without any prior notice.
  8. 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’s reasonable control, Sun Life reserves the right, at its sole discretion, to cancel, terminate, modify, or suspend the Offers or relevant events without prior notice.
  9. Sun Life reserves the right to amend, suspend or cancel the Coupons and amend these terms and conditions at any time without prior notice. In the event of disputes on the Gifts, the decision of Sun Life shall be final and conclusive.
  10. Sun Life Hong Kong Limited is incorporated in Bermuda with limited liability.
  11. These terms and conditions shall be governed by and construed in accordance with the laws of Hong Kong. Any dispute arising under these terms and conditions shall be subject to the exclusive jurisdiction of the courts of Hong Kong.
  12. A person who is not a party to these terms and conditions may not enforce any of their provisions under the Contracts (Rights of Third Parties) Ordinance (Cap.623 of the Laws of Hong Kong).

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