Sun Life: Shaping wealth legacies for generations with insurance

SINGAPORE’S status as a leading wealth hub shows no signs of slowing. The island-state continues to attract High Net Worth (HNW) and Ultra High Net Worth (UHNW) individuals and families from across the region. Over the past five years, the number of UHNW individuals in Singapore grew by 158 per cent to 4,200, driven by newly minted citizens and the establishment of family offices. This figure is expected to rise by another 43 per cent to around 6,000 by 2026 from Citywire Asia report.

For these individuals, wealth planning today extends beyond traditional protection. Managing global assets, navigating volatile markets and planning for smooth intergenerational wealth transfers have become priorities. These factors are driving them to increasingly turn to insurance products. Sun Life, with its more than 160 years of global heritage and deep expertise in HNW insurance, is positioning itself as a trusted partner by offering solutions that address their evolving needs.

Christopher Albrecht, chief executive officer of Sun Life Singapore says: “Our HNW and UHNW clients are redefining their priorities. They want solutions that reflect the way they live, work and invest today. They are looking for strategies that provide security while giving them the flexibility to pursue growth opportunities and plan confidently for future generations. At Sun Life, we focus on helping them make informed decisions and giving them greater control over how they manage, protect and transfer their wealth.”

Sun Life’s leadership and financial strength

Sun Life’s strong foundation underpins its position as a market leader in HNW insurance across Asia. The company has more than 130 years of experience in Asia, serving about 85 million clients worldwide and has C$1.54 trillion in assets under management (as of June 30, 2025). In Singapore, Sun Life holds an AA rating from Standard and Poor’s, the highest among life insurers locally.

It pioneered Universal Life insurance in Asia in the 1990s and has the financial strength and expertise to support the region’s largest HNW insurance cases. These credentials provide confidence to families’ wealth planning across decades and generations.

“Our clients want assurance that their insurer can deliver on long-term commitments,” says Albrecht. “Sun Life’s scale, financial strength and proven track record give them the confidence to plan for their families’ future knowing we will be there every step of the way.”

Expanding the suite of solutions

Sun Life has strengthened its leadership in HNW insurance with a series of innovative launches in Singapore to meet the evolving needs of wealthy families. In 2023, the company introduced SunBrilliance Indexed Universal Life (IUL), followed by SunBrilliance Whole Life in 2024. Both products were well received by clients seeking flexible strategies to grow, protect and transfer their wealth.

In the third quarter of 2025, Sun Life Singapore unveiled the enhanced SunBrilliance IUL II together with the new SunBrilliance Indexed Savings plan, further expanding its suite of IUL solutions to address a broader range of client priorities. These launches are the latest step in Sun Life’s commitment to offering innovative strategies that combine protection, saving, market participation and flexibility to suit the needs of today’s globally connected HNW and UHNW families.

Albrecht says the thinking behind these launches reflects changing client expectations. “The rising popularity of the IUL product highlights the growing sophistication of our clients and their desire for solutions that give them greater control. By enhancing and expanding our offerings, we provide clients with tools to secure lifetime protection, capture potential market-linked returns for wealth accumulation, and plan confidently for their future generations.”

The SunBrilliance Indexed Universal Life II introduces several enhancements, including a higher multiplier factor of 125 per cent compared to 120 per cent in the previous version and an increased cap rate of 10.8 per cent per annum on the Optimum Indexed Account, up from 10.2 per cent. A guaranteed loyalty bonus from policy year 11 onwards boosts account value, while waived fund charges and penalty-free partial withdrawals offer greater flexibility for clients to manage their wealth as their circumstances change. It will also continue to offer market-leading features that made the original SunBrilliance IUL solution so popular, including Legacy Plus, which allows the death benefit to be paid out in annual instalments of up to 10 years.

Every purchase of the SunBrilliance IUL II product also contributes to the Sun Life Singapore Philanthropic Pledge, another market-leading feature. Under this Pledge, it donates 0.5 per cent of premiums received, up to US$20,000 per policy, through its “Life is Brighter” charity fund to local charities. The

Pledge reflects the company’s long-standing commitment to championing sustainability and supports programmes focused on diabetes prevention, mental wellness, financial literacy and community resilience. Through these initiatives, Sun Life seeks to create a brighter tomorrow where future generations are empowered to live healthier, happier and more financially secure lives.

SunBrilliance Indexed Savings is a savings-based IUL plan designed for steady accumulation and smooth intergenerational transfer. It offers two Indexed Accounts linked to S&P 500 index performance, providing options tailored to different risk appetites. Policyholders can change owners or life insureds, appoint contingent owners and insureds, or split policies across multiple beneficiaries to support multi-generational planning. With a maturity term of 150 years, the plan also includes guaranteed loyalty bonuses from policy year 11 to policy year 100 and a continuity bonus to build account value steadily, as well as the Legacy Plus feature which allows the death benefit to be paid in annual instalments for up to 10 years.

Forward vision

Singapore’s stability and future-focused policy environment continue to strengthen its role as a leading wealth hub for Asia and beyond. As it attracts more globally mobile families and wealth, Sun Life is aligning its strategy to anticipate evolving client needs.

Albrecht says the company is positioning for this next phase of growth. “Singapore stands out for its stability and foresight, and our clients are increasingly operating across borders. We are unifying our HNW capabilities across Singapore, Hong Kong and Bermuda into a single platform so our distributors who engage our policyholders experience an even better service from us across locations. This means a single intake process, a consistent standard of underwriting across locations and a streamlined approach to understanding our entire range of products.”

This strategy focuses on three key priorities. First, expanding product solutions to meet the globalised needs of HNW and UHNW individuals and families, ensuring they can access best-in-class insurance offerings tailored to their cross-border lifestyles. Second, broadening its distribution network by strengthening relationships with international broker intermediaries and deepening partnerships with local financial advisory firms, family offices and external asset managers to enhance accessibility. Third, improving the client and partner experience by streamlining processes, adopting digital innovation and enhancing service delivery to offer a best-in-class experience.

By integrating its HNW business regionally, Sun Life is strengthening its position as Asia’s pre-eminent insurer for HNW and UHNW families providing clients with greater flexibility, seamless access to a wider range of solutions and a consistent experience no matter where they are based or where they invest.

“Our goal is to deliver a truly connected experience for our clients,” says Albrecht. “By combining our regional expertise with our global capabilities, we can support them wherever they live and work, help them grow and protect their wealth while planning confidently for the future.”

As Asia’s wealth landscape evolves, Sun Life remains focused on empowering HNW and UHNW families to shape their financial legacies with clarity and confidence. With its heritage of stability, innovative solutions, an expanded regional platform and a client-first approach, Sun Life is well positioned to lead the next chapter of HNW insurance in Singapore and the region.

Important information: This article is meant for general information purposes and not tailored to any particular person. Where it also contains the views of the persons named therein, these may not represent views of the general market or industry. This article contains information and views that are true and correct as at the time it is published. Sun Life has no obligation to update you of any information, view or thought that may subsequently change, and Sun Life is not responsible for any loss or detriment that results from sole reliance on the contents of this article. This article is not meant to be, and does not amount to, any solicitation or promotion of any investment or products or services, or any advice to purchase any insurance product. Before entering into any investment, buying any insurance policy or other product, or availing any services, you should take independent legal, tax, financial or other advice as you may deem fit, considering your own circumstances.

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