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Sun Life Singapore
Sun Life Singapore has launched “Future – S”, a whole life insurance plan, aimed at high net worth and ultra-HNW clients. This is the first product that it has launched since the firm was established in the Asian city-state in 2020.
Future – S is an insurance solution to protect wealth, enabling a transfer of clients’ personal and business assets in this lifetime and generations beyond, the business said.
The plan gives clients the freedom to pay through a single premium payment, or a multi-payment option over five years or 10 years; a high guaranteed cash value at up to 85 per cent of premiums paid, and cash value growth, delivered via additions, which are determined by two types of non-guaranteed additions: annual additions and a one-time final addition.
Toronto-listed Sun Life, the parent firm, supports more than 22 million clients in Asia, and offers life, health and wealth solutions. In the past four years, Sun Life has grown to support 10.3 new clients, chalking up an underlying net income growth at a compound annual rate of 8 per cent, it said. In Asia, its wealth and asset management businesses have C$61.5 billion ($49.3 billion) in assets under management.