Sun Life and PFA Announce Partnership for High Net Worth Clients in Singapore

16 Nov, 2023

Sun Life and PFA Announce Partnership for High Net Worth Clients in Singapore

Sun Life Singapore has unveiled a partnership with Prudential Financial Advisers Singapore (PFA), introducing the SunBrilliance Indexed Universal Life insurance plan to PFA's clientele.

This collaboration addresses the growing interest in alternative life insurance solutions amid market fluctuations and increased interest rates. Sun Life Singapore introduced the SunBrilliance Indexed Universal Life plan in July 2023 to cater to rising demand in Singapore and across Asia.

PFA's clients will now access Sun Life Singapore’s SunBrilliance Indexed Universal Life through PFA's financial representatives, marking the first time PFA has offered a universal life insurance solution since its establishment in April.

This partnership aligns with Sun Life Singapore’s strategy to diversify its distribution channels and enhance accessibility to innovative products like the SunBrilliance Indexed Universal Life.

Sun Life Singapore targets SG$500 million in premiums by the end of 2023, following its initial product launch in April 2021.

Michael Wei, Sun Life Singapore's chief partnership and marketing officer, expressed enthusiasm about the collaboration's extension of HNW insurance offerings. He emphasized Sun Life's global financial services experience and leadership in HNW insurance in Asia, anticipating better addressing rising wealth preservation and financial needs in the local community.

Bernard Chai, PFA CEO, welcomed the collaboration with Sun Life Singapore, citing the importance of comprehensive solutions in addressing customers' evolving financial needs. He highlighted the expanded range of choices across health and life protection products, savings, wealth solutions, and general insurance due to this addition.