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Vital

policy reverse mortgage programme

Vital is a participating insurance plan that offers whole-life protection, providing your loved ones with the basis for a lasting financial foundation to pursue their dreams, in the event that you are no longer there to do so.

Highlights:

Provides whole-life protection and additional amount1, up to 70% of Sum Assured, as part of the Death Benefit to tide your loved ones over this difficult period.

Provides Guaranteed Cash Value and non-guaranteed bonuses2 add to your wealth

Provides additional cover following your key life events with Guaranteed Insurability Option3

Provides protection even when you are unemployed4 with Unemployment Benefit

Provides optional benefits to widen your safety net with add-on rider benefits5

Vital Client Offer

Promotion period: July 6, 2021 – September 30, 2021

You may enjoy 8% premium rebate on AFYP of Vital upon successful application during the promotion period. If you are the Selected Sun Life Client, you may enjoy an extra 4% premium rebate on AFYP. This offer is capped at HKD10,000 premium rebate for the same insured and policy owner.

There are more client offers on life protection, savings plan and medical protection, let’s check out with our advisors!

This offer is subject to terms and conditions. Details please refer to the promotion leaflet.

Download Promotion Leaflet

 

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. 

Start Calculation

*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. The additional amount will be determined according to the occurrence of the insured’s death and Designated Anniversary. 
  2. Non-guaranteed bonuses are determined in accordance with the rules set out by Sun Life from time to time and may vary based on the performance of a number of experience factors, with the investment return normally being the main determinant. For details of bonuses, please refer to Bonus Philosophy under section Important Information.
  3. Subject to the then current administrative rules determined by Sun Life from time to time.
  4. The unemployment is not caused by resignation, retirement, voluntary redundancy or termination by the employer due to misconduct, negligence of duties, dishonesty or commitment of any unlawful act and you are not self-employed or employed by relatives.
  5. Rider benefits are subject to additional premium and terms and conditions of the relevant rider benefits.

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 Vital 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

Vital 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 and Policy Reverse Mortgage Programme website. 

The PRMP is operated by HKMC Insurance Limited (“HKMCI”), a wholly-owned subsidiary of The Hong Kong Mortgage Corporation Limited, for people who are aged 60 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 visit PRMP website or download PRMP leaflet .


Flexible payment term

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

 

Lump-sum payout

You may apply to borrow lump-sum payouts at the time of initial loan application and/or at any time during the payment term you choose for your needs.

 

2 options of interest rate plan

You can choose either a floating rate or fixed rate plan to meet your financial needs.

 

No repayment during your lifetime

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

 

No penalty for early full repayment

You may fully repay the outstanding loan amount and redeem your life insurance policy at any time and there is no penalty for such full repayment. 

 

6-month cooling-off period

If you wish to terminate your policy reverse mortgage loan for whatever reason, provided that you notify the lender within the first 6 months and repay in full the outstanding loan amount on the proposed repayment date, you will be given a full refund and waiver of all mortgage insurance premiums. 

 

For more PRMP details, please visit PRMP website or download PRMP leaflet.

Please note that Vital 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 further information, please refer to The Hong Kong Mortgage Corporation Limited 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:

  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

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:

  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 Child Accident & Illness Benefits

Guaranteed Insurability Benefit is an optional rider benefit that you can add to your Sun Life insurance plan1 to enjoy the flexibility of being able to add to your cover or savings – whatever may come your way.

 

From age 24 to 45, Guaranteed Insurability Benefit empowers you to purchase, on the life of the insured, who is the person protected under the Basic Plan, without any further medical questions or checkup, designated Sun Life participating life or endowment plans. A new plan may be purchased once this rider benefit has been in effect for 2 years, and subsequent purchases may be made more than 2 years after a preceding purchase under this rider benefit.

 

What’s more
You can also choose the following optional rider benefits2 to attach to your new policy for more comprehensive protection.

  • One Year Term Benefit or Five Year Term Benefit3
  • Total Disability Benefit4

 

Remarks:

  1. This rider benefit can only be attached to designated basic plans (“Basic Plans”). Please contact your Advisor for details.
  2. Subject to the rider benefits available at that time.
  3. The total Sum Assured of your chosen new policy and the One Year Term Benefit / Five Year Term Benefit cannot exceed the Sum Assured of the Guaranteed Insurability Benefit.
  4. To add the Total Disability Benefit to your chosen new policy, the following conditions must be satisfied: (i) your chosen new policy must have premiums payable for life; (ii) a Total Disability Benefit is attached to your current Basic Plan and the Total Disability Benefit is then in effect under your policy; and (iii) the Total Disability Benefit can be added to your chosen new policy according to our prevailing administrative rules.

 

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 Guaranteed Insurability 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

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:

  1. These rider benefits can only be attached to designated basic plans (“Basic Plans”). Please contact your Advisor for details.
  2. The premium will only be waived until the Initial Policy Owner recovers from total disability.
  3. The Initial Policy Owner is the owner of the Basic Plan at the time this rider benefit is issued.
  4. 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:

  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 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:

  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

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