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SunRise Universal Life

SunRise Universal Life is a Universal Life plan designed to help you accumulate wealth through growth opportunities while protecting your wealth against the risk of market downturns. It helps your family flourish with a legacy built to last. 

Highlights :

1. Seize upside potential for long-term wealth accumulation

  • Your wealth is exposed to attractive potential growth opportunities through the Growth Account Crediting Interest Rates1, which can be up to 9.1% (based on current Cap Rate2 as of January 2023).

2. Double guarantee for downside protection

  • Offers protection through a Cumulative Guaranteed Interest Rate of 2.75% p.a.3 for guaranteed accumulation of your wealth upon death, full surrender or policy maturity.
  • Embeds with minimum guaranteed crediting interest rate of 0% p.a. for each year to shield you against market downturns.

3. Protect your wealth and legacy up to 120 years

  • Offers Change of Insured Option shall you require and which you can exercise an unlimited number of times over the 120-year policy term if needed.
  • To ensure your wishes are carried out, you can also tailor your legacy arrangement through the Policy Split Option and Death Benefit Settlement Options4.

4. Manage your wealth flexibly to ensure you stay flexible and agile

  • You can request a partial surrender from your policy anytime after the 1st policy anniversary5
  • You can make subsequent premium payments at any time.

5. Application is simple with no medical or financial underwriting requirements, while fees and      charges are guaranteed to remain unchanged.

 
  1. The Growth Account Crediting Interest Rates are set by Sun Life Hong Kong Limited (“Sun Life”) based on the returns of underlying equity-like investments and are subject to change from time to time at our sole discretion.
  2. The Cap Rate is set by Sun Life and is subject to change from time to time at our sole discretion.
  3. Before the deduction of applicable fees and charges.
  4. Partial surrender is subject to the then current administrative rules, underwriting rules and any other requirements.
  5. Partial surrender is subject to the then current administrative rules. The Holding Account Value, Growth Account Value and Notional Amount will be proportionally reduced upon the approval of the partial surrender request.

The above information is a product summary only, please contact your Advisor for details. Please refer to the respective product brochure 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 brochure

View crediting interest rate philosophy.

Frequently Asked Questions :

The Account Value is the accumulation of the values from the Holding Account and the Growth Account. These values are increased by interest credited and decreased by applicable charges.

Sun Life invests in underlying equity-like investments in well-developed markets and will use the returns on these investments to support the Growth Account Crediting Interest Rate. The year-on-year actual Growth Account Crediting Interest Rate may be fluctuating within the Cap Rate and Growth Account Floor. Under certain circumstance, it may be zero due to the market downturn or even the impact of financial crisis. We reserve the right to change the rates at our discretion. For details, please refer to the product brochure.

 

The current Cap Rate is 9.10%, (as of January 2023) with a minimum guaranteed Cap Rate of 3.00%. The Cap Rate can be changed from time to time at our sole discretion and never decreases more than 0.5% year on year. It is affected by interest rate environment, market outlook, persistency experience.

 

The Growth Account Floor is always 0% and guaranteed not to be changed during benefit term.

SunRise Universal Life has below advantages:

  • Provides high potential growth opportunity by transparent crediting interest rate mechanism*
  • Offers the ability to ‘lock-in’ gains with Growth Account Floor at 0%
  • Allow flexible liquidity that clients can pay more premium or partially withdrawal as they need subject to current administrative rules

 

*Growth Account Crediting Interest Rate is subject to Cap Rate and Growth Account Floor

A Segment is a part of Growth Account with a one-year Segment Term.

  1. It is created to receive a transfer from Holding Account on every 16th of a month and then deduct the monthly applicable charges and credit the applicable interest at Segment Maturity Date.
  2. To allow the client to enjoy a potentially higher return, each Segment would have its Growth Account Crediting Interest Rate which would be fluctuated and subject to Cap Rate and Growth Account Floor.
  3. It would roll into the new Segment automatically after one-year term from its start date.

DCAO is an option to helps smooth out the impact of market volatility by separating the allocation of Holding Account to Growth Account in different time points. With DCAO, a portion of Holding Account Value with respect to a premium after deducting applicable charges and interest credited is moved into the Growth Account over a 12-month period (instead of all at once at the start of a new Segment) such that the clients can possibly enjoy 12 different Growth Account Crediting Interest Rate in different period. Clients may choose to initiate this feature at the time of each Subsequent Premium payment.

No, the Holding Account Value would be transferred to the Growth Account on the 16th of next month automatically in one go except DCAO is applied. The Growth Account Value would never be transferred back to Holding Account.

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