Sun Life Hong Kong has upgraded its legacy planning offering, adding new death benefit settlement options to meet customer needs for a more comprehensive solution.
Following its launch, Stellar, a savings plan that actively integrates environmental, social and governance (ESG) concepts into its own investment strategies, has received positive feedback from its clients. The plan manages risks and optimizes opportunities by focusing investments on assets with high ESG ratings.
The upgraded plan, called Stellar (18 payments), adds new features such as premium benefit waiver, payer benefit, premium holiday option and free policy split option.
The new offering provides comprehensive death benefit settlement options for each beneficiary, including a first partial market payment in installments until the beneficiary’s designated age. Clients can also choose the full payment by increasing the installments or the continuation option to benefit from greater flexibility in the allocation of the estate and to easily conclude financial arrangements, passing the estate from generation to generation.
Christine Yeung, Managing Director of Life and Health Insurance at Sun Life Hong Kong, said, “Given the growing demand for ESG investing, we are launching the enhanced Stellar (18 payouts) to meet market needs. Clients can use comprehensive death benefit settlement options to make appropriate financial arrangements for their loved ones. Compared to legacy planning tools that involve higher costs, an insurance policy is relatively cost-effective and flexible as a legacy solution tool that allows both the wealthy and the general public to plan for their inheritance.