How Sun Life Insurance is making the world a better place

Sun Life Financial is a multinational insurance company in Canada with headquarters in Toronto, Ontario. It has more than

CAD$ 1.3 Trillion in assets under control. Sun Life was founded by Matthew Hamilton Gault in 1865. Sun Life helps customers 

by providing financial security and healthier lives. It provides innovative financial solutions to private and public sector companies. 

Sun Life may be a well-respected company with a long history of giving quality insurance products and services. The company is evaluated as A+ by Standard & Poor's. Sun Life could be a great choice for customers who are trying to find a trustworthy & reliable insurance provider.

Reasons for choosing Sun Life Insurance:

I] Global Presence - It has a presence in multiple continents like Asia, North America & Europe.

II] Financial Strength - By paying claims and benefits promptly to the customers, the company has maintained a strong financial position.

III] Innovative Solutions- The company uses the latest technology and innovates its products & services so that it becomes more accessible 

and convenient for the customers. 

IV] Customer-centric approach - The company goes deep to understand customer's circumstances and allocates a financial advisor who creates

unique personalized insurance products and investment solutions.

Products and Services Offered:

Life Insurance: Life insurance is a contract between you and a life insurance company that may be for a set amount of time or the remainder of your life. This policy guarantees that your beneficiaries will get a tax-free cash payment (also called the death benefit) when you die. The exact amount they'll get depends on how much insurance you purchase and the type of policy you select.

Term Life Insurance:

 Temporary coverage that can last 10, 15, 20, or more years. It's a cheaper option. But your premiums typically rise if you decide to renew your policy at the end of your term.

Some term plans let you convert to permanent life insurance. Permanent insurance is more expensive than term, but most plans offer premiums that remain the same for the rest of your life.

Permanent life insurance

It's insurance coverage that lasts forever and never expires. There are three types of permanent life insurance: whole life, universal, and participating life.

Term life insurance is an affordable life insurance policy that gives you financial protection for a certain period. You have a choice of 10, 15, 20, or 30 years for the duration of your term insurance coverage If you die while your policy is still active, then your beneficiaries receive a lump-sum, tax-free payment (called the death benefit).

The company has 4 term life insurance products:

I] Sun Life Go Simplified Term Life Insurance: $50,000, $75,000 or $100,000. It's a 10-year plan with instant temporary coverage.

II] SunSpectrum Term Life Insurance: $50,000 upto $25 million. Tenure can be chosen for 10,15,20 or 30 years. 

There is an option to convert to permanent at any time till age 75

it is also applicable to children below 18 years.

III] Sun Life Go Term Life Insurance: $100,000 upto $1 million. Instant temporary coverage. Plan for either 10 or 20 years.

IV] SunTerm Life Insurance: $250,000 upto $25 million.

Choose from 10,15,20 or 30-year plans.

Also, there is an option to convert to permanent at any time till age 75.

The company has 3 types of permanent life insurance plans. 

I] Whole Life Insurance: Tax-free death benefit

A]Sun Life Go Guaranteed Life Insurance

B]Sunspectrum Permanent LifeII

II] Universal Life Insurance: tax-free death benefit and the option to grow savings on a tax-preferred basis.

A] Sun Universal Life II

B] Sunspectrum Universal Life II

III] Participating Life Insurance: Tax-free death benefit. can grow dividends and cash value.

A] Sun par Protector II

B] Sun par Accumulator II

C] Sun par Accelerator

Health Insurance: A health insurance policy or contract provides you, the insured, with financial protection to aid in covering medical expenses. The insurance company may cover your covered medical charges depending on your policy. A monthly premium or cost is paid to the insurance company.

4 types of health Insurance for Canadians living in Canada:

I] Personal health Insurance- Pays for healthcare expenses that are not covered by employer, provincial, or territorial plan

II] Disability Insurance- replaces income if you cannot work

III] Critical Illness Insurance - Covers the cost of coping with and recovering from critical illness.

IV] Long-term care insurance - covers the cost of care for you or a loved one for a longer period.

Travel Insurance - Travel insurance is a type of insurance designed to protect you financially during your travels. It provides coverage for unexpected events that can happen while you're away from home, such as trip cancellations, medical emergencies, lost baggage, flight delays, and other unforeseen circumstances.

Travel Insurance covers trip interruption, translation services, emergency medical care, and for theft of documents.

Mortgage Protection Insurance- It is like a safety net that helps your family if something happens to you. It gives them money to pay off the mortgage and ease their financial burden during a difficult time. The amazing thing about this insurance is that

You can keep the coverage even as you pay off your mortgage.

You can keep the coverage even if you decide to move to a new home.

You get to choose someone you trust to inherit the money (the beneficiary).

Business Owner Insurance-It is a type of insurance designed to protect business owners like you, your partners, employees, and your family. Whether you are just starting your business or looking to grow, this insurance can provide you with valuable protection.

Achievements:

It is ranked number 1 position among insurance companies globally.

It has earned a spot on Corporate Knight's 2023 Global 100 most sustainable corporations in the world for the 14th consecutive year. 

It was listed in Dow Jones Sustainability North America Index in 2022 for the consecutive 17th time.

It has been named one of the best places to work in Canada by Glassdoor.

Conclusion:

Sun Life offers a wide range of solutions that are suited to your needs, whether you're searching for life insurance to safeguard your loved ones, making preparations for a peaceful retirement, or hoping to increase your wealth. By selecting Sun Life Insurance as your financial partner, you can confidently embrace the future and begin the process of realizing your goals and aspirations.