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Life protection and financial security

SunGuardian and SunGuardian (Care Version) are participating whole life insurance plans designed to provide life protection with savings elements incorporating ESG concept in investment strategies; while letting you advance the Death Benefit in full to provide your loved ones with financial security, should you experience Terminal Illness or Severe Dementia¹.

¹ The accelerated Death Benefit for Severe Dementia is applicable to SunGuardian (Care Version) only.

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Key Benefits of SunGuardian and SunGuardian (Care Version)

With affordable premiums, you can breakeven on the 10th policy year² if you opt for the 6-year premium payment term.

Applicants up to the golden age of 74³ are welcome to apply. This plan provides guaranteed lifelong protection alongside a range of optional riders at affordable premiums.

Your loved ones will be entitled to the Death Benefit in advance⁴ if you experience Terminal Illness or Severe Dementia¹.

² This breakeven calculation assumes that the policy has no premium loading .

³ This is only applicable to 6-year premium payment term.

⁴ Assume the insured is the policy owner. The accelerated Death Benefit can be claimed by designated parties on behalf of the insured should the insured be mentally incapacitated. The Designated Benefit Recipient must be (a) aged 18 or above at the time of applying for the designation of Designated Benefit Recipient and (b) the policy owner's spouse, parent, child, sibling, grandparent, grandchild, or any other relationship as approved by Sun Life.

Who is eligible to apply?

  • If you’re between the golden age of 40 to 74, with an interest in whole life protection with a competitive premium and guaranteed early breakeven.
  • If you’re concerned about potential medical and living expenses, and/or Severe Dementia¹ or Terminal Illness during your golden age .
     

What else do you need to know?

SunGuardian and SunGuardian (Care Version) is a market-first⁵ whole life protection plan that integrates ESG (Environmental, Social and Governance) investment strategies, so you reap the benefits of better financial returns and a more sustainable future for you and your loved ones.

⁵ This is based on market conditions as of June 30, 2023 of SunProtect, SunGuardian and SunGuardian (Care Version) and comparison among other whole life protection plans for new Composite and Long Term Businesses as defined by the Insurance Authority in the Register of Authorized Insurers.

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 and full terms and conditions 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 SunGuardian / SunGuardian (Care Version) 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%.

View bonus philosophy
 

SunGuardian / SunGuardian (Care Version) is an eligible life insurance plan under Policy Reverse Mortgage Programme (“PRMP”), providing you a stable income to improve the quality of retirement life. For further information, please refer to The Hong Kong Mortgage Corporation Limited (“HKMC”) website: www.hkmc.com.hk.

Important information on the Policy Reverse Mortgage Program (PRMP)

The PRMP is operated by HKMC Insurance Limited (“HKMCI”), a wholly-owned subsidiary of HKMC, for people who are aged 55 or above to apply for policy reverse mortgage loans. The PRMP provides you a stable income to improve the quality of retirement life.

For more PRMP details, please refer to HKMC website: www.hkmc.com.hk  or download PRMP leaflet.

Flexible payment term

You can choose to receive monthly payouts either over a fixed period of 5, 10, 15 or 20 years or throughout your entire life (until the maturity of your life insurance policy).

Lump-sum payout

You may apply for lump-sum payouts at the time of policy reverse mortgage loan application and/or any time during the selected payment term to suit your personal needs.

If you withdraw a larger lump-sum payout amount, there will be a correspondingly lower monthly payout amount. If you withdraw the maximum amount of lump-sum payout, you will not receive any monthly payouts thereafter. 

2 options of mortgage plans

To meet your financial needs, you can choose either a floating-rate or fixed-rate mortgage plan.

No repayment during your lifetime

In general, you do not need to repay the outstanding loan amount during your lifetime, unless your policy reverse mortgage loan is terminated under specific circumstances. 

No penalty for early full repayment

You may fully repay the outstanding loan amount and redeem your life insurance policy at any time without penalty. However, you may not repay only a part of the outstanding loan amount. 

6-month cooling-off period

If you terminate your policy reverse mortgage loan for whatever reason, provided that you notify the lender within the first six months and repay in full the outstanding loan amount on the proposed repayment date, you will be given a full refund and waiver of the relevant mortgage insurance premiums. However, you still need to bear any accrued interest and financed fees in the outstanding loan amount. For more PRMP details, please refer to HKMC website: www.hkmc.com.hk or download PRMP leaflet.

Please note that SunGuardian / SunGuardian (Care Version) 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. Therefore, you and your life insurance policy are still required to meet all the eligibility requirements under PRMP before you apply for the policy reverse mortgage loan.

Any general information provided on PRMP is for your 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 Policy Reverse Mortgage Programme is operated by HKMC Insurance Limited, a wholly-owned subsidiary of The Hong Kong Mortgage Corporation Limited. For enquiries, please call the HKMC Retire 3 Hotline at 2536 0833 or send an email to hkmcretire3@hkmc.com.hk.

HKMC website: www.hkmc.com.hk

Limited Time Offer:

Enjoy 1-month premium rebate for SunGuardian / SunGuardian (Care Version)

From now to December 31, 2024

If you successfully apply for SunGuardian / SunGuardian (Care Version) you will be entitled 1-month premium rebate.

This offer is subject to terms and conditions. Please refer to the promotion leaflet for full details.

Learn more

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Optional rider 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, key product risk 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

Accidental Death & Disability Plus Benefit is an optional rider benefit that you can add to your Sun Life insurance plan1. This rider benefit gives you a lump-sum payment in the event of total disability, dismemberment or loss of sight, hearing or speech of the insured, who is the person protected under the Basic Plan. Also, in the unfortunate event due to accident that the insured passes away, a lump-sum payment of 100% of the sum assured will be paid to the beneficiaries to support and help them manage their financial needs. 

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, key product risk and exclusions. If there is any conflict between the Policy Document and this product summary, the Policy Document shall prevail.

Download product leaflet of Accidental Death & Disability Plus Benefit

For more information, please visit Hospital Income Insurance Plan 

Lavender Lady's Benefit is an optional rider benefit that you can add to your Sun Life insurance plan1.

This rider benefit provides comprehensive and protection. A lump-sum benefit will be paid if you suffer from the designated female cancer and critical illness. If your looks be spoiled by an accident, the Back-To-Beauty Benefit reimburses you for the treatment cost of cosmetic surgery for facial reconstruction and skin grafts after burns.

The Mental Well-Being reimburses you for the consultation fees for psychotherapy or psychiatric treatment following the death of your spouse or children or for postnatal depression. The Accidental Death of Spouse/Son/Daughter Benefit provides 50% of Sum Assured in the event of accidental death of spouse or children.

What’s more:

  1. Cash benefit if hospitalized as a result of an accident
  2. Free medical check-up
  3. Optional Carnation Pregnancy Cover

Remark:

  1. This rider benefit 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, 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 Lavender Lady's Benefit

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, key product risk 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

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, full terms and conditions, key product risk and exclusions. If there is any conflict between the Policy Document and this product summary, the Policy Document shall prevail.

Download product leaflet of One Year Term Benefit/Five Year Term Benefit

For more information, please visit SunHealth Medical Care

Total Disability Benefit is 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.

Remarks:

  1. These 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, key product risk 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

Frequently Asked Questions

Participating life insurance is a type of whole life insurance policy that offers a guaranteed death benefit and the opportunity to accumulate cash value over time. There is also potential to earn non-guaranteed dividends or bonuses.

 Please refer to our Bonus Philosophy for more details.

 It's important to note that while a policy may have participating status, it is not guaranteed to receive dividends or bonuses. You may also refer to the product brochure for full details.

 You may also browse through our Fulfillment Ratios of respective products.

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