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Sun life financial

Sun Life Financial is a Canadian-based insurance company that helps provide life insurance options.

It was one of the world’s largest insurance companies in 2017, with a capitalization of more than $24 billion US. Started in 1865, it is also one of the oldest insurance companies.

Those people who are considering life insurance companies will certainly find a promising option in Sun Life Financial. With a long-standing presence in the field, many Canadians find their protection with this company.

The information below looks at some of the policies they offer.

Sun Life Term Life Insurance

Manulife Financial knows that everyone’s needs are different. That’s why they offer four different options when it comes to their term life insurance.

With various policies to choose from, people are guaranteed to find something that suits their changing needs and financial goals.

Sun Life SunSpectrum Term Insurance

This type of policy is ideal for those who are searching for something affordable and constant. That means guaranteed premiums that still offers protection for loved ones.

This is also a great policy for business owners who have valuable employees, and those who have any type of mortgage or debt protection needs.


  • Coverage between $50,000 and $15 million
  • Renewable policy until anniversary closest to the 85th birthday
  • Can be converted to permanent
  • Terms include 10, 15, 20 and 30
  • Guaranteed premiums, conversion, and death benefit

Sun Life SunTerm Insurance

Lots of people are looking for life insurance that allows them to maintain a comfortable income and expenses. While this policy is similar to SunSpectrum, it does offer a higher starting point for coverage at $250,000.


  • Coverage of $250,000 to $15 million
  • Terms available include 10, 15, 20 or 30 years
  • Premiums renew at guaranteed rates
  • Guaranteed conversion and death benefit
  • Living benefit, survivor benefit on joint first-to-die and automatic survivor benefit on join first-to-die can be applied

Sun Life Go Simplified Term Life Insurance

The world is a fast-paced place, and Sun Life has a life insurance policy that reflects that.

People who want coverage fast can apply for this insurance with the click of a button. They’re not required to take a medical exam; however, they will be required to answer three health-related questions.

Typically, the more information a person can share about their health, the cheaper their insurance is. If a person is in good health, they are encouraged to think about the other policy options for something even more affordable.


  • Easy to obtain without a medical examination
  • Coverage options include $50,000, $75,000 or $100,000
  • Guaranteed premiums for the first ten years
  • Living benefit and 30-day free look are applied

This company also offers Sun Life Go Term Life Insurance, which covers up to $1 million and premiums are guaranteed for the first 10 or 20 years.

Sun Life Permanent Life Insurance

Sun Life SunSpectrum Permanent Life II

This is an ideal policy for people who are seeking lifelong coverage without having to manage their own coverage. A guaranteed death benefit and cash value help to provide security for loved ones.


  • Single coverage allows for $25,000 from ages 0-64
  • Joint coverage offers $25,000 for all ages
  • Maximum coverage is $10 million
  • Ideal for people who are entering retirement and who want a different option than term life or group insurance

Sun Life Go Guaranteed Life Insurance

Lots of people have a hard time applying for life insurance. With this policy, it is easy to apply online, and there are no medical examinations required.

This policy is helpful for covering final expenses and is available for people whose health problems deter life insurance companies. However, this makes this policy more expensive than other options.

This policy is for people ages 30-74 living in Canada.


  • Guaranteed premiums for life. Premiums end at age 95 but coverage remains.
  • Coverage from $5,000 to $25,000
  • Living benefit and 30-day free look included

Sun Life Participating Life Insurance

Sun Life Sun Par Protector II

This policy is great for people who want some guaranteed protection, as well as the potential for cash growth over time.


  • Payment options include 10-pay, 20-pay or life pay
  • Multiple coverage options include single life or joint
  • Dividend options for investment opportunities

Sun Life Sun Par Accumulator II

The Accumulator II offer guaranteed lifetime protection, as well as the option to access cash growth early on.

This policy is great for people who want high cash values early in, and who can access this accumulation throughout the policy. It is ideal for business owners, people with an estate, and those who want to provide for future generations.


  • Various payment options
  • Dividend opportunities
  • Cash value access early in the policy

The Sun Life Sun Par Accelerator policy is also available. Clients pay premiums within the first eight years, while still getting early cash access and long-term benefits.

Sun Life Universal Life Insurance

Sun Life SunSpectrum Universal Life II

This flexible option is great for people who seek long-term coverage as well as investment options and tax-preferred savings.

Most people who buy this policy are happy managing their coverage and have investments that reflect their tolerance for risk.


  • Various investment account options
  • Living benefit, policy loans and withdrawals and other benefits applied
  • Straightforward and flexible

Sun Life SunUniversalLife II

This policy offers coverage for policyholders who seek both personal and business-related coverage. People can customize their plan and change it as time goes on to serve their needs.


  • Ideal for those who want control over their investment portfolio
  • Guaranteed coverage that also offers flexibility
  • Single life and joint options
  • Death benefit options such as Level Insurance Amount
  • Investment account options such as Guaranteed Interest Account
  • Additional features such as Living Benefit


Individuals who speak with an agent will have a better chance of choosing a good policy. This way, policyholders can discuss their current and future goals, and which plans reflect those needs best.