Insurance

Sun Life Singapore Enhances Flagship Product, Future - S, with New Benefit Option

Sun Life Assurance Company of Canada Singapore Branch (“Sun Life Singapore”) has announced the launch of “NextGen”, a new Guaranteed Death Benefit option, for its flagship product, Future – S, in Singapore.

With the introduction of “NextGen”, Future S will have a total of 3 benefit options: S70, S100 and NextGen, giving High Net Worth (HNW) and Ultra High Net Worth (UHNW) clients greater optionality, flexibility and protection, which are key considerations during legacy and wealth planning.

“NextGen” provides an additional layer of guaranteed death coverage above the original sum assured for policyholders until the age of 85. This protection is based on the amount of coverage selected at policy inception, which will then also determine the sum assured. The other key feature of “NextGen” is its High Guaranteed Cash Value, which is up to 100% premiums paid.

First launched in Singapore in April 2021, Future – S is designed to offer a lifetime of protection for HNW and UHNW families. It is an insurance solution that enables wealth preservation, paving the way for a smooth transition of clients’ personal and business assets in this lifetime and generations beyond.

 

Belinda Au, Chief Executive Officer, Sun Life Singapore, said: “We recognize that our HNW and UHNW clients are seeking enhanced coverage options that offer lifetime protection when planning for their legacy and wealth planning strategy. With the launch of NextGen, the Future – S series provides greater optionality and flexibility, which will allow our clients to further tailor coverage to suit their needs and financial objectives for this generation and beyond.”

 

 

Michael Wei, Chief Partnership and Marketing Officer, Sun Life Singapore, said: “The new benefit option was derived from co-creating with our distributors and clients, taking their valuable feedback to build on top of what has already worked well with our original Future – S series. We are excited to offer this new benefit option and look forward to launching other innovative and relevant solutions to our affluent, HNW and UHNW clients in Singapore.”

 

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%.