Sun Life Singapore and Prudential Financial Advisers Singapore (PFA) have signed a collaboration to offer the former's SunBrilliance Indexed Universal Life to PFA clients.
This insurance package will be the first universal life insurance solution made available to PFA clients.
Targeted at affluent and high net worth (HNW) clients, SunBrilliance Indexed Universal Life is the latest in Sun Life Singapore’s product suite, offering a balance of lifetime coverage and high potential growth linked to the S&P 500 index performance.
It also provides first-in-market features, such as Legacy Plus which allows the death benefit to be paid out either at one time or in annual instalments up to a period of 10 years.
In addition, under Sun Life Singapore Philanthropic Pledge, the company will donate up to 0.5% from the premiums received, with a cap of S$27,000 (US$20,000) per policy for every purchase of SunBrilliance Indexed Universal Life towards philanthropy and charity programmes in Singapore.
Mr Michael Wei, Chief Partnership and Marketing Officer, Sun Life Singapore, said, “We are delighted to be collaborating with Prudential Financial Advisers Singapore to extend our HNW insurance offerings to a wider community in Singapore… This strategic collaboration of two insurance powerhouses will enable us to better address the rising wealth preservation and financial needs in the local community.”
Mr Bernard Chai, CEO of Prudential Financial Advisers Singapore, said, “As life expectancies increase, customers are looking for a wider range of comprehensive solutions that can help them address their lifelong financial needs. With this addition, PFA can provide customers with more choices across our suite of health and life protection products, savings, wealth solutions and general insurance.”