Sun Life Singapore has partnered with Prudential Financial Advisers Singapore (PFA) to bring Sun Life’s ‘SunBrilliance Indexed Universal Life’ insurance plan to PFA’s affluent and high-net-worth clients.
The SunBrilliance Indexed Universal Life plan, first released by Sun Life in July 2023, is tailored for the affluent market, featuring innovative options including ‘Legacy Plus’ – which offers a death benefit payout in a single or instalment basis — and charitable contributions under the company’s philanthropic pledge.
The partnership, part of Sun Life Singapore’s expanded distribution strategy, aims to help the growing demand for sophisticated life insurance products in Singapore, amid growing economic uncertainties.
Michael Wei, Sun Life Singapore’s Chief Partnership and Marketing Officer, expressed enthusiasm about the venture, stating, “This strategic collaboration of two insurance powerhouses will enable us to better address the rising wealth preservation and financial needs in the local community.”
Bernard Chai, CEO of PFA, highlighted the benefits for customers seeking comprehensive and enduring financial solutions, saying, “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.”
Expanding beyond its original focus on international brokers, Sun Life Singapore has successfully diversified its distribution model. The firm now boasts a multi-channel network with 18 partners, positioning itself as a leading provider of high-net-worth insurance in Asia, as it aims to achieve its SG$500m (US$370m)i n premiums by the end of the year.