Sun Life Hong Kong has rolled out an integrated marketing campaign to promote the new product - “Commitment”- which comprises TVC, online videos and outdoor visuals.
The new product is supported by Sun Life Hong Kong’s latest study on child-rearing themed “Parents Should Realize Children’s Wishes?”, which unveils parents’ and children’s expectations and views on financial management related to child-rearing.
The study reveals that not only parents, but also over half (55%) of student respondents agree that parents should start saving before the birth of their children, helping them “win at the starting line”.
Only about one-third of student respondents think that parents should financially support them regularly after the completion of study. However, over half (54%) of parent respondents reckon that children need regular financial support for a period of time after finishing their study.
Belinda Au, general manager, distribution and marketing, Sun Life Hong Kong Limited said: “Sun Life has been helping our clients to achieve lifetime financial security and live healthier lives so they can realize their life goals at different life stages.”
The study aims to help parents understand the perception gaps between themselves and their children, thereby encouraging them to plan for their children’s future as soon as possible.
The survey also indicates that 41% of parent respondents had already started saving money for their children’s future before the children were born. Among them, parent respondents aged 45 or above (i.e. the 70s generation) see the lowest ratio (27%). The group with the highest ratio (59%) is the parent respondents aged 34 or below (i.e. the 80s and 90s generations), who have already saved an average of HK$558,844 per child.
However, “helicopter parents” are pervasive in Hong Kong. 43% of parent respondents agree that parents should provide regular financial support to their children even after their children have started full-time employment, or purchased property.
Betty Lee, vice president of product solutions, life and health, Sun Life Hong Kong Limited, said: “Sun Life understands that every client has their unique financial management and protection needs at different stages of life. Since they have their own needs, values, and preferences, Sun Life Hong Kong has launched a new product Commitment to assist parents in planning their children’s future in a more effective and disciplined manner so they can be prepared for any unforeseeable circumstances.”
“Commitment” is a participating life insurance that offers life protection while building up ample reserves.
The marketing campaign for the new product comprises TV commercial, an online video on 100Most channel, outdoor (MTR stations, billboards, bus body and shelters advertisement) as well as online and social media.
Featuring Ron Ng, Chung King Fai and Lee Kwok Lun, the video on 100Most discusses the cost of child-rearing in Hong Kong, a challenge faced by many young couples in the city, in a humorous way.
To draw greater interest from a wider group of audience, the TV commercial adopts an emotional approach highlighting the intimate interactions among family members.