Sun Life Hong Kong launches upgraded Stellar (18-pay) First-in-market Death Benefit Settlement Option to cater to the needs of comprehensive legacy planning

Sun Life Hong Kong has announced the launch of Stellar (18-pay), adding new Death Benefit Settlement Options1 to cater to clients’ needs for more comprehensive legacy planning.

Following its successful launch, Stellar, the first ESG-focused savings plan in the market, received significant positive client feedback. The plan actively integrates environmental, social and governance (ESG) concepts into its own investment strategies, managing the risks and optimizing opportunities through focusing investment on those assets with high ESG rating.

The upgraded Stellar (18-pay) serves as a comprehensive legacy solution tool. New features include Waiver of Premium Benefit, Payor Benefit, Premium Holiday Option4 and free Policy Split Option.

More importantly, Stellar (18-pay) provides comprehensive Death Benefits Settlement Options1 for each beneficiary, including a first-in-market6 partial payment by installments till the designated age of beneficiary. Clients can also choose the full payment by increasing installments or Continuation Option to enjoy greater flexibility in wealth allocation and easily make financial arrangements, passing down wealth through the generations.


Christine Yeung, General Manager, Life and Health of Sun Life Hong Kong Limited, said, “In view of the increasing demand for ESG investing, we are launching the upgraded Stellar (18-pay) to respond to market needs. Clients can make use of the comprehensive Death Benefit Settlement Options to make appropriate financial arrangements for their loved ones. Compared with  legacy planning tools that involve higher costs, an insurance policy is relatively cost-effective and flexible as a legacy solution tool that enables both the affluent and the broader general public to plan their legacy. This year marks our 130th anniversary and we are pleased to have continuously led the market in providing a diverse range of life protection and wealth management products. As a trusted partner to Hong Kongers on their retirement journey, we are committed to helping clients achieve lifetime financial security and live healthier lives.”


From now until September 30, 2022, if clients successfully apply for Stellar (18-pay) and such policy is issued by October 31, 2022, 15% premium rebate will be entitled to Annualized First Year Premium (“AFYP”). Furthermore, an extra 3% premium rebate on AFYP will be entitled to Stellar (18-pay), i.e. a total of 18% premium rebate on AFYP if clients fulfill the above requirements and apply for WeHealth Prestige, WeHealth Preferred or WeHealth Plus with the same policy owner on or before September 30, 2022 and such policy is issued by November 30, 2022.

Sun Life Hong Kong also announced the launch of the SaveFast Endowment Plan, a USD-denominated10 non-participating savings plan. For a short premium payment period of 2 years, clients can enjoy 5 years of saving protection. Along with life protection, when the policy matures at the end of the 5th policy year, clients are entitled to receive a maturity benefit in the form of a guaranteed annualized return of 3%. Alternatively, clients can choose to pre-pay the second year’s premium at the outset with a guaranteed prepayment interest rate of 3% per annum during the 1st policy year. The plan is limited subject to availability.


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