Sun Life Financial Inc. is a Canadian financial services company. It is primarily known as a life insurance company. sunlife life insurance company has a presence in investment management with over CAD$1.3 trillion in assets under management operating in a number of countries. Sun Life ranks number 235 on the Forbes Global 2000 list for 2022. Sun Life completes sale of its UK business Sun Life begins long-term strategic partnership with UK’s largest long-term savings and retirement business TORONTO, ON and LONDON, UK, April 3, 2023 /CNW/ – Sun Life Financial Inc. (TSX: SLF) (NYSE: SLF) announced today it has completed the sale of SLF of Canada UK Limited (“Sun Life UK”) to Phoenix Group Holdings plc (“Phoenix Group”) (LSE: PHNX). Headquartered in London, Phoenix Group is the UK’s largest long-term savings and retirement business with more than 12 million customers and £260 billion of assets under administration. Who is Sun Life Insurance? Sun Life Financial is an international financial services company founded 150 years ago. It is the third largest insurer in Canada and is primarily known for its individual insurance products and group benefits. It has an A+ financial strength rating from AM Best. Sun Life quick facts: SunLife Life Insurance Calculator SunLife Life Insurance Calculator Use our calculator to easily work out how much over 50 life insurance you may need. Fill in the costs that you would like your policy to cover and calculate your ideal cover amount. Remaining mortgage balance: Loans, credit cards and other personal debt: Cost of your funeral: Retirement fund for a partner: Leave an inheritance or charity donation: Existing life insurance/funeral plan or savings: Calculate Your total cover estimate: £0 Sun Life life insurance rates for 2023 Sun Life Canada offers a wide range of individual (i.e. not group) life insurance products from term to whole and universal life insurance. Let’s dive into some coverage options that might suit your financial needs. Note: Prices have increased across the board for Sun Life policies between April 2023 and July 2023.‍‍ Coverage options Monthly payments* Sun Permanent Life $83.88 SunSpectrum Permanent Life II $83.88 SunSpectrum Term 10 $12.42 SunSpectrum Term 20 $24.93 SunSpectrum Term 30 $20.16 Sun Universal Life II $76.17 Sun Permanent Life – 20 Pay $149.04 Key takeaways: Sun Life Insurance Company Overview Sun Life Insurance Canada deals primarily in life, travel, and health insurance for its personal lines and employee benefits for its commercial lines. Customers looking for personal home and auto insurance can use the Sun Life referral service to get a 10 percent discount on products offered by belairdirect. Sun Life Insurance offers advantages to its customers such as: Sun Life Canada’s Insurance Products Sun Life Canada has a list of insurance products that focus on keeping customers healthy as they grow and protect their wealth. The company also wants happy business clients that are able to offer their employees competitive benefits. Health Insurance From short-term medical needs to long-term illness concerns, Sun Life Canada has a complete set of personal health insurance products that apply to every member of the family. The major components of the company’s health insurance lines are: Life Insurance Sun Life Canada is well-known throughout Canada for its customizable life insurance products that can also grow in financial value. Whether you need insurance to cover your short-term plans or a life-long policy that gains equity over time, you will find the coverage you need. The types of life insurance available are: Travel Insurance The Sun Life Canada travel insurance program helps customers during all types of traveling situations from emergency medical situations to recovering lost luggage. Coverage types include: Mortgage Protection Insurance Sun Life Canada offers a special mortgage protection program that will pay your mortgage payments if you become too ill to work or pass away unexpectedly. Small Business Insurance Sun Life Canada can create a benefits package for your business that includes investment options for retirement accounts and insurance that covers: What is the SunLife over 50 plan and how does it work? The SunLife over 50 plan is a life insurance policy which guarantees a cash pay out to your family when you pass away. For many people, taking out an over 50 plan is an easy and affordable way to help pay for their funeral. The funds can relieve some financial worry for loved ones at an already difficult time, particularly as the average cost of dying now exceeds £9,600 in the UK. Sun Life insurance phone number uk – 1800 270 7000 The table below explains the key features of SunLife over 50 life insurance and how it works: Feature Description Guaranteed acceptance You’re guaranteed to be accepted for cover if you’re a UK resident aged 50 – 85 No medical questions During the application process you don’t need to provide any medical information or undergo a medical exam Whole of life cover This type of policy is also known as life assurance or whole of life insurance because it covers you for the rest of your life Guaranteed pay out after 12 months Once your policy has been in place for 12 months (known as the ‘waiting period’), your loved ones are guaranteed a pay out when you pass away, regardless of when that may happen in the future. Accidental death benefit If you pass away during the first 12 months of your policy as a result of an accident, a full pay out will be made Fixed monthly premiums from £5 a month When you take out an over 50 plan your premiums will need to be paid each month to keep cover in place. The amount you pay will depend on your age, smoking status and the sum assured. The cost of your premiums won’t change during the lifetime of your policy Fixed pay out amount (sum assured) guaranteed The maximum pay out is £18,000. The amount you can secure will depend on your personal circumstances and budget Sun Life life insurance: pros and cons Read up on some of the pros and cons of Sun Life life insurance based on their different products. Pros of Sun Life insurance: Cons of Sun Life … Continue reading What is Sun Life Insurance 2024?