Sun Life Singapore nabs Asian Experience Awards 2024 for its indexed universal life insurance solution

It offers a balance of guaranteed insurance protection with potential returns tied to the performance of the stock market.

Sun Life Assurance Company of Canada Singapore Branch (“Sun Life Singapore”) emerged victorious at the coveted Asian Experience Awards 2024 for its SunBrilliance Indexed Universal Life insurance solution that caters to the rising needs of High Net Worth individuals looking for an alternative asset class for wealth preservation in the midst of market volatility.

SunBrilliance Indexed Universal Life offers the highest multiplier rate of 120% in the market through its Indexed Multiplier Account, which is linked to the S&P 500 index performance. This multiplier rate enables higher potential returns to clients as they build their wealth portfolio for succession planning.

The solution has also introduced a first-in-market Legacy Plus feature where the Death Benefit can be paid up in installments up to 10 years. As the first life insurer in Singapore to offer this unique benefit option in 2023, its clients are going to have peace of mind knowing that the payouts in installments will help their families better manage the large sum of inheritance when they pass on.

Sun Life Singapore launched another first-in-market initiative called Sun Life Singapore Philanthropic Pledge through the solution, allowing it to give to back to the community in a sustainable way. 0.5% of premium received (capped at US$20,000 per policy) is going to be channeled through Singapore Community Chest to support local charity causes such as diabetes awareness, mental wellness and other community initiatives in line with the company’s philanthropy goals.

“Our Philanthropic Pledge marks the first time a life insurance company in Singapore has  incorporated upfront charitable giving into a life insurance solution to encourage philanthropy and charity giving. We believe the Philanthropic Pledge will inspire our clients and business distributors to build their own giving legacy, so that more communities in need can be supported in the immediate term,” said Christopher Albrecht, Sun Life Singapore Chief Executive Officer .

SunBrilliance Indexed Universal Life has garnered immediate interest from partners and clients since its launch in July 2023 and remains as Sun Life Singapore’s flagship product to date.

Christopher Albrecht, Sun Life Singapore Chief Executive Officer added: “Sun Life is a market leader of High Net Worth insurance in Asia, and we are setting the bar to define what High Net Worth insurance solutions mean to our partners, clients and the industry. We are delighted to be leading the industry into rethinking solving quandaries through innovative solutions.”

Sun Life Singapore won the Singapore Product Experience of the Year - Life Insurance in the awards programme, for providing a differentiated yet purposeful product experience for clients whilst meeting their wealth and legacy planning needs.

The Asian Experience Awards recognises the ingenious initiatives of creative companies delivering meaningful brand experiences to their stakeholders.

The Asian Experience Awards is presented by Asian Business Review Magazine. To view the full list of winners, click here. If you want to join the 2025 awards programme and be acclaimed for providing meaningful brand experiences to stakeholders, please contact Jane Patiag at [email protected].