【Buy now, enjoy payments】Immediate annuity for self-made long-term stable income and a comfortable retirement in the Greater Bay Area

For those who are about to retire, or have already retired, the greatest peace of mind comes from having a “regular pension” unaffected by market volatility, allowing you to enjoy your later years in comfort. If you do not wish to delay retirement and, in old age, still be forced to toil for a living, what can you do?

Unlike “deferred annuities”, which require time to accumulate retirement capital, one of the advantages of an “immediate annuity” is that it is “paid out shortly after purchase”, making it suitable for savvy retirees who want to make the most of their retirement savings or MPF. Sun Life’s newly launched RetireFree Immediate Annuity* and Rider Cover RetireFree Supplementary Benefit¹ (collectively, the “RetireFree Immediate Annuity and Rider Cover”) require the policyholder to pay the premium in a single lump sum. As soon as the following month after the policy takes effect, they can begin receiving a continuous, fixed annuity income, and enjoy stable income for life in retirement. The RetireFree Immediate Annuity and Rider Cover has also gained market recognition, winning the 5-Star Immediate Annuity Award at the 10Life 5-Star Insurance Awards 2026 (for hedging longevity risk and rising interest rates in one solution).

Retirement can last a long time, and careful financial planning is essential to meet living needs over the coming decades while maintaining an ideal quality of life. In addition to guaranteed cash flow, the "Enhanced Life Supplementary Insurance¹" also offers non-guaranteed terminal dividend³, giving policyholders’ “retirement income” greater potential to grow and helping to combat inflation. Policyholders may also, as early as the 3rd policy year, lock in up to 10% of the terminal dividend³ each year and withdraw it anytime via SunWallet, enjoying a colourful retirement lifestyle. Alternatively, they may choose to accumulate wealth by earning interest in the “Daily Interest Account”² at a non-guaranteed annual interest rate of 3.5%, and access the funds when needed. 

One of the greatest concerns in retirement often stems from uncertainty about health. As people grow older, bodily ailments are inevitable, and the high costs of medical treatment and long-term care can easily erode a lifetime of savings. “享悅添心附加保險¹” offers a “Six Critical Illness Bonus Lock-in Option⁶”, providing policyholders with a financial safety net for later-life health needs.

When a policyholder is unfortunately diagnosed with one of the six common major illnesses, namely cancer, heart disease, stroke, dementia, Parkinson’s disease, or loss of some ability to live independently, they may apply to lock in⁶ 50% of the terminal bonus³ available at that time as a lump-sum financial support to help cope with unexpected medical expenses. This enhances the annuity’s liquidity without affecting the future guaranteed monthly annuity payments.

Even more considerate, if the policyholder is diagnosed with dementia or Parkinson’s disease before the age of 80, they will receive an additional payout for up to 10 years. The annual payout is 10% of the nominal amount of 享悅添心, subject to a maximum of US$50,000 per year, and may be used to hire a carer or domestic helper to look after themselves. In addition, the plan also provides a “Legacy Benefit”, offering funeral expense support and accidental death cover for the insured, so that care and support continue until the final stage of life. 

Retirement life brings about phased changes. In addition to preparing sufficient funds, health planning is equally important for seniors. Sun Life’s RetireFree Immediate Annuity and Rider Benefits¹ provide the insured with a stable income. During the promotion period⁵, a limited-time offer with a range of tailored services is also available, providing Silver Generation customers with protection for life in the Greater Bay Area. It helps cater to the insured’s health needs at different stages and aligns with the trend of choosing to retire in the Greater Bay Area.

Health starts with prevention — free health check-up

• To put “prevention is better than cure” into practice, health examinations are an important step. This plan offers annuity policyholders an annual body check-up service for a limited time. A free health check-up will be provided once in the 2nd and 5th policy years, up to a total of 2 times, and 15 check-up items can be selected. Depending on the amount of single premium paid, this health concierge service can be received for up to the first 10 policy years, making it the first of its kind in the market³.

A helping hand for illness — cross-border everyday medical services

• Everyone knows how to seek medical treatment, but when in the Greater Bay Area and faced with different systems, it is understandable to feel at a loss. The personalised care provided by this plan helps retirees adapt to the different Hong Kong and Mainland systems, further strengthening their confidence in retirement across regions.
• “SunPass Health Privilege”: allows the policy owner and the insured to enjoy a range of everyday medical and wellness services at over 1,200 service providers across Hong Kong with exclusive discount offers (including Chinese and Western consultations, acupuncture, bone-setting, physiotherapy, chiropractic, dentistry, psychological counselling, etc.), with discounts of up to 50%.
• “Health Care Privilege” has specifically added Greater Bay Area services, including doctor referral and appointment assistance for the insured in Mainland China, as well as accompaniment services at selected hospitals; in the event of an emergency, necessary medical transport can also be arranged for the insured; the plan will also provide beneficiaries with a green medical channel, offering one-stop outpatient or inpatient appointment services, covering major cities such as Beijing, Shanghai, Shenzhen and Guangzhou, and more than 2,000 top-tier hospitals and quality private hospitals.
• “Health Care Privilege” also provides a comprehensive range of services, including Silver Age Living Assessment services, premium medical services, medical consultation services (second medical opinion services), family support services for cancer and stroke, and comprehensive cancer genetic testing, to safeguard health.

Looking to start planning your retirement income now and enjoy annuity protection with “buy now, receive immediately” benefits? If you are interested in Sun Life RetireFree Immediate Annuity and the RetireFree Plus Rider, you can enjoy up to 1.5% premium discount during the promotion period.Click here to learn more.

Notes:

¹ This optional supplementary benefit can only be applied for together with the basic plan application. Please note that Joyful Extra Care cannot be purchased on its own or added later.

² The accumulated rate of the Daily Interest Account is not guaranteed and is determined solely by Sun Life Hong Kong Limited (“Sun Life Hong Kong”) and subject to change from time to time. Up to 31 October 2025, the current rate of the Daily Interest Account is 3.5% per annum.

³ Terminal bonus is non-guaranteed and specified under the rules determined by Sun Life Hong Kong from time to time. The terminal bonus may vary depending on the performance of several experience factors, with investment return generally regarded as the main determining factor. Other factors include, but are not limited to, claim experience, policy expenses, taxation and policyholder persistency. The cash value of the terminal bonus may not be equal to its face amount. The terminal bonus may differ each time it is announced in future, and the actual amount payable may also vary. For details of the bonuses, please refer to the bonus philosophy section under Important Information and Sun Life Hong Kong’s website (www.sunlife.com.hk).​

⁴ “Market first” refers to a comparison as of 22 August 2025 of immediate annuity products for new policies offered by insurance companies carrying on both general and long-term business, based on the Register of Authorized Insurers of the Insurance Authority.

⁵ The above promotion is subject to terms and conditions. For details, please refer to the promotional leaflet for “Health Concierge Service”.

⁶ Applications to exercise the terminal bonus locking option must be submitted within 30 days before the policy anniversary date, and can only be exercised once in each policy year. Once your application has been approved, it cannot be withdrawn or amended. After exercising this option, any locked terminal bonus amount will be deducted when calculating the death benefit under Joyful Extra Care.​

* The Joyful Immediate Annuity Insurance Plan and the offer are subject to terms and conditions. For details of the product features and risks, please refer to the product brochure and leaflet, or contact your financial adviser.

Disclaimer

This advertisement material is sponsored and provided by Sun Life Hong Kong for general reference only. The above product information does not include the full policy terms and is subject to the terms and conditions of the relevant plan. For details of the above product features, benefits and full terms, exclusions and major product risks, please refer to the Sun Life Hong Kong website, the relevant product brochure and policy provisions. Any promotional offers or marketing materials should be read together with the relevant product brochure. Customers must successfully complete a financial needs analysis to determine whether the insurance product recommended meets their insurance needs.

Last updated on: 21 November 2025. 

This English version of this article has been generated by machine translation powered by AI. It is provided solely for reference purposes. In the event of any discrepancy or inconsistency between this translation and the original Chinese version, the Chinese version shall prevail.