Sun Life Singapore has introduced two new Indexed Universal Life (IUL) insurance products—SunBrilliance IUL II and SunBrilliance Indexed Savings—targeting High Net Worth (HNW) and Ultra High Net Worth (UHNW) families. This launch follows the success of its flagship IUL product introduced in 2023, as the company seeks to address the growing demand for legacy planning and wealth accumulation solutions.
The SunBrilliance IUL II offers enhanced benefits, including a higher multiplier factor of 125%, an increased cap rate for the Optimum Indexed Account at 10.80% per annum, and a new guaranteed loyalty bonus from the 11th policy year. Additionally, it features a waiver of fund charges and penalty-free partial policy surrenders. The product also continues to support charitable causes through the Sun Life Singapore Philanthropic Pledge, donating 0.5% of premiums to charity.
The SunBrilliance Indexed Savings plan is designed to facilitate wealth transfer across generations, offering two Indexed Accounts linked to the S&P 500 index. It provides flexible options for inter-generational wealth transfer, a maturity term of 150 years, and bonuses to enhance account value.
Christopher Albrecht, CEO of Sun Life Singapore, stated, “At Sun Life Singapore, we’re not just keeping pace with the market – we’re setting the standard for innovation in insurance.” He emphasised the importance of providing clients with tools to secure their financial futures amidst economic uncertainties.
These new offerings reinforce Sun Life’s position as a leading insurer for affluent clients in Asia, leveraging its expertise to meet sophisticated financial needs.
