Sun Life Singapore Launches Whole Life Plan to Meet the Needs of High Net Worth and Ultra High Net Worth Families
Future – S focuses on insurance solutions for preserving and growing wealth for future generations.
Sun Life Singapore has launched “Future – S”, a whole life insurance plan designed to offer a lifetime of protection, which is an essential component for legacy and wealth planning strategy, for High Net Worth (HNW) and Ultra High Net Worth (UHNW) families. Future – S is Sun Life Singapore’s first product since it was established in Singapore in May last year, meant to cater to HNW and UHNW families.
Future – S is an insurance solution that helps in wealth preservation, paving the way to a smooth transition of clients’ personal and business assets in this lifetime and generations beyond.
The key benefits of the Future – S include:
- A lifetime of coverage with two options: S70 and S100 for Guaranteed Death Benefit – The Guaranteed Death Benefit starts at 100% of the Sum Assured.
- Flexibility in premium payment terms – clients can choose to pay either through a single premium payment, or a multi-payment option over 5 years or 10 years.
- High Guaranteed Cash Value at up to 85% of premiums paid.
- Cash value growth, delivered in the form of additions, which are determined by two types of non-guaranteed additions: Annual additions3 and one-time Final Addition.
Belinda Au, Chief Executive Officer, Sun Life Singapore, said: “We have listened to our clients and have created Future – S that is tailor-made for families with an eye on protection and succession. With Sun Life’s long-standing legacy of more than two decades in serving clients in the international High Net Worth insurance market, we are well-placed to serve the wealth and protection needs of our clients in Singapore through insurance solutions.”
The launch of Future – S aligns with Sun Life’s focus in Asia on further building its HNW business. Sun Life currently supports more than 22 million clients in Asia, offering life, health and wealth management solutions through a multi-channel distribution approach. In the past four years, Sun Life’s business in Asia has grown to support 10.3 million new clients and its underlying net income has grown at a CAGR of 8%.
Recommended news