SUN Life of Canada (Philippines), Inc. is strengthening its position in the country’s high-net-worth (HNW) segment with the launch of a new product designed to address increasingly complex wealth preservation and succession planning needs among affluent Filipinos.
The life insurer on Monday introduced Sun Life Premier Legacy, described as a comprehensive offering for clients seeking to manage intergenerational wealth transfer, estate liquidity, and long-term financial continuity.
It noted that Asia is approaching an estimated $5.8 trillion wealth transfer by 2030, presenting a major growth opportunity in wealth management.
"This isn't simply a product launch. It's a statement of intent about serving a market at a critical inflection point," Sun Life Philippines Country Head and CEO Jonathan Juan Moreno said.
"With trillions in wealth set to transfer across Asia, and Filipino families expressing clear anxiety about preservation and preparedness, Sun Life Premier Legacy positions us as the partner equipped to guide families through this complexity with sophistication, discretion, and foresight,” he added.
Moreno pointed to a gap between awareness and execution among wealthy Filipinos as a key driver behind the initiative. Internal research conducted by the firm showed that while a majority of affluent individuals recognize the importance of passing on wealth, only a small portion had formal plans in place.
The study found that 81 percent of respondents fear their wealth may not be preserved beyond the next generation, yet only 18 percent considered themselves fully prepared for wealth transfer. Six percent said they had completed and communicated their legacy plans, while a quarter had made no arrangements at all, the study found.
Moreno said the findings highlighted both a business opportunity and an urgent need for more sophisticated financial solutions.
“Filipino families recognize the importance of legacy planning ... however, most haven't translated that awareness into action. This represents both an urgent need and a significant market opportunity,” Moreno said.
Beyond low adoption of estate planning tools, the research also underscored specific concerns shaping demand within the HNW segment. These include doubts about the heirs’ ability to manage inherited wealth, potential family disputes over assets, and exposure to market volatility.
Moreno said Sun Life Premier Legacy was designed to go beyond traditional life insurance by integrating features that support structured wealth transfer and governance continuity. The product provides life insurance coverage from inception up to age 100, creating immediate liquidity that can be used for estate settlement, business succession, and asset protection.
Key features include a settlement option that allows policyholders to control how and when benefits are distributed to beneficiaries, including staggered or time-based payouts.
The product also introduces a “mental incapacity benefit,” which enables a designated individual to access certain benefits if the policyholder were to become unable to manage their affairs due to illness or injury.
The product includes potential dividend earnings and access to premium services such as priority processing, medical concierge support, and exclusive legacy planning forums.
