Sun Life upgrades savings insurance with wealth transfer tools

It also introduces a rare multiple Contingent and Interim Policy Owner Arrangement.

Sun Life Hong Kong has upgraded its flagship savings insurance products—SunJoy Global Insurance Plan II, SunGift Global Insurance Plan II, and Stellar Multi-Currency Insurance Plan II—with enhanced legacy planning and policy flexibility features.

Key upgrades include a flexible Death Benefit Settlement Option, allowing customised payouts tied to life events, and a Continuation Option that transitions policies to new owners and insured parties upon the original insured’s death. 

The plans also introduce a rare multiple Contingent and Interim Policy Owner Arrangement to support intergenerational wealth transfer.

Additional enhancements include early value lock-in from the fifth policy year, whole life protection, extended incapacity and waiver of premium coverage, and academic achievement awards for Stellar plan policyholders. 

Withdrawals are supported in up to 17 currencies.