SunProtect is a participating insurance plan that offers whole-life protection, giving your loved ones the financial security they need, in the event that you’re no longer there to do so.
Highlights:
- Double protection with Additional Death Benefit during your prime age
- Flexibility with market-first1 Lifelong Protection Lock-in Option to lock in your Additional Death Benefit to whole life
- Affordable premium with early guaranteed breakeven year2
Learn more about ESG
| E | S | G |
refers to Environmental, which covers areas such as climate change, resource scarcity and environmental pollution. |
refers to Social, which focuses on topics like labour issues, public health and cyber security. |
refers to Governance, which is about factors such as board diversity, structure and company policies. |
Broadly speaking, ESG is a tool to analyze sustainability of a company. You can expect a more sustainable return and lower risk from companies with outstanding ESG rating. For those companies with higher ESG rating, it is expected to expose to a lower potential risk resulting from incidents such as worker strikes, litigation and negative publicity, which may cause lower future returns. As such, monitoring such ESG rating of an investment can probably led to better risk-adjusted return. ESG rating can be regarded as intangible assets of a responsible company such as Sun Life and it is an important indicator of our commitment on sustainable development.
Limited Time Offer:
Enjoy up to 1-month premium rebate for SunProtect
From now to December 31, 2024
If you successfully apply for SunProtect you will be entitled 1-month premium rebate.
The offer is subject to terms and conditions. Details please download and refer to the promotion leaflet.
- This is based on market conditions as of June 30, 2023 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.
- In calculation of the guaranteed breakeven year, we assume there are no Lifelong Protection Lock-in Coverages added and no premium loading applicable to the relevant policy.
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 SunProtect 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%.
SunProtect 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.
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 SunProtect 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
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:
- 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:
- 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
Child Accident & Illness Benefits is an optional rider benefit of Sun Life insurance plan1.
If the insured, who is the child protected under the Basic Plan, suffers from Critical Conditions covered under this rider benefit or in the event of death, loss of one limb, sight or suffer from major burns due to an accident, we will pay a cash lump-sum to help you manage your financial needs.
Remark:
- 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 Child Accident & Illness Benefits
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:
- Cash benefit if hospitalized as a result of an accident
- Free medical check-up
- Optional Carnation Pregnancy Cover
Remark:
- 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:
- 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:
- 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
Owner Benefit upon Death / Owner Benefit upon Disability or Death is an optional rider benefit that you can add to your Sun Life insurance plan1.
With Owner Benefit upon Death / Owner Benefit upon Disability or Death, the premium of your Basic Plan and all attached rider benefits (including this one) will be waived2 as follows.
The premium will be waived if
| Owner Benefit upon Death | Owner Benefit upon Disability or Death | |
|---|---|---|
| Initial Policy Owner3 passes away | ||
Initial Policy Owner becomes totally disabled4 |
The premium will be waived until the child, as the insured who is the person protected under the Basic Plan, reaches 25 years of age, or the premium payment term of the Basic Plan and rider benefits (if any) comes to an end, whichever is earlier.
Remarks:
- These rider benefits can only be attached to designated basic plans (“Basic Plans”). Please contact your Advisor for details.
- The premium will only be waived until the Initial Policy Owner recovers from total disability.
- The Initial Policy Owner is the owner of the Basic Plan at the time this rider benefit is issued.
- The premium will be waived if the Initial Policy Owner becomes Totally Disabled before the age of 60. Totally Disabled means the Initial Policy Owner is: (i) continuously completely disabled for a period of no less than 6 consecutive months; (ii) continuously completely 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 Owner Benefit upon Death / Owner Benefit upon Disability or Death
For more information, please visit SunHealth Medical Care
Tender Care Benefit is an optional rider benefit of Sun Life insurance plan1.
This rider benefit reimburses medical expenses and gives you a special allowance if the insured, who is the child protected under the Basic Plan, is injured in an accident.
We will pay out a cash lump-sum upon the death or loss of a limb or sight of the insured due to an accident. The amount of Accidental Injury Benefit will be doubled if the insured is a passenger in a school bus or other public transport conveyance when an accident happens.
Remark:
- 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 Tender Care Benefit
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:
- These rider benefit can only be attached to designated basic plans (“Basic Plans”). Please contact your Advisor for details.
- Please contact your Advisor for eligible rider benefits.
- If the insured recovers from Total Disability, the premium waiver will end.
- 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
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