Sun Life - Savings Product
BENCHMARK
Consumer Ratings
The Consumer Scores are based on 2,500 independent and unbiased affluent insurance customers of Hong Kong and Mainland Visiting Customers from the BENCHMARK 2020 Insurance Survey that includes 450+ metrics over four pillars of satisfaction. The Overall score is an aggregated score of the four pillars.
The Rest
Overall Score out of 100%
Product Satisfaction
The Rest
Measures the satisfaction level of advisory, pre, and post-sale care, suitability, advocacy, and retention. A higher percentage means more satisfaction.
Cost of Product
Average
Measures whether the product is reasonably priced, the cost of product and fees, and the value-for-money perception. Newer products tend to have higher scores.
Satisfaction on R.O.I.
Average
Policyholders' satisfaction considering what each dollar can buy, including claims frequencies and coverages, rewards on no claims, leverage ratios, and bonuses.
Product Innovation
Average
Customers' experiences in the product's ongoing renewal, new features, flexibility in terms, yields, and value-creation to their overall financial planning goals.
BENCHMARK
Expert Reviews
This product has been reviewed by five industry veterans | December 2020
Sun Life Venus Savings Product
This is a good product with many excellent features built-in. The savings product targets long-term returns with a potential IRR of 5.08% at its 30th policy anniversary. A terminal bonus will be declared annually starting from the 8th policy anniversary and has a potentially substantial surrender value (guaranteed plus non-guaranteed based on today's projection) on the 30th policy anniversary up to 442% of the premium paid. The company adopts investment policies set out by the PRI. It takes ESG as material consequences when investing and divesting within the Par fund, which is crucial to buying a long-term insurance product for the beneficiaries of the policies.
Corporate Sustainability Performance
As of April 2021, Sun Life's financial rating has remained strong and stable: “AA-” (Stable Outlook; as of 06 Jan 2020) by Standard & Poor’s, and “A+” by Fitch (Stable Outlook; as of 16 Apr 2021).
BENCHMARK
Top-Rated Savings Products
The Consumer Scores are based on 2,500 independent and unbiased affluent insurance customers of Hong Kong and Mainland Visiting Customers from the BENCHMARK 2020 Insurance Survey that includes 450+ metrics over four pillars of satisfaction. The Overall score is an aggregated score of the four pillars.