Sun Life Financial expands Critical Illness line-up with industry-leading products from Great-West Life and UnumProvident

Toronto, ON (July 4, 2001) – Sun Life Assurance Company of Canada, a member of the Sun Life Financial group of companies, announced today that it is providing advisors with an expanded list of product offerings to meet growing consumer demand for critical illness (CI) products. Effective July 4, the organization’s advisors will have access to industry-leading CI products from Great-West Life and UnumProvident.

Critical illness insurance, which pays a lump sum benefit in the event of a serious illness, is among the fastest-growing products in the Canadian insurance marketplace, with premiums in 2000 up 63 per cent from 1999. Both Great-West Life and UnumProvident are leaders in this area, offering innovative plans that make them popular choices with consumers.

For Sun Life Financial, this latest initiative further builds on its already successful strategy of expanding customers’ product choices through distribution alliances with other leading financial services companies.

“We are committed to providing our advisors with access to products that meet every type of client need,” said Bryan Hunter, Vice-President, Distribution. “Both Great-West Life and UnumProvident’s plans represent the best of what critical illness coverage has to offer and they will be a good compliment to our existing Sun Life Assist product.”

“As Canadian consumers become increasingly aware of the impact a critical illness can have on their lifestyles and incomes, they’re turning in greater numbers to these kinds of products,” said Scott Moffatt, Assistant Vice-President, Market Development, UnumProvident. “We’re pleased to be working with Sun Life Financial to expand the distribution points for our product, while at the same time, helping to provide consumers with more choices.”

“Our critical illness insurance product was recently enhanced to respond to the growing number of Canadians interested in this type of protection,” said Monique Maynard, Vice-President, Living Benefits for Great-West Life. “We welcome the opportunity to build on our existing relationship with Sun Life Financial and our common desire to make the best products available to our clients.”

UnumProvident is a world leader in protecting the incomes and lifestyles of individuals, both directly and through their employers, from the impact of accidents and illnesses. As a Fortune 500 publicly owned insurance company, UnumProvident (NYSE: UNM) has more than 12,000 employees worldwide. The scale of its operation benefits customers through its strong focus, depth of resources and constantly growing expertise in a specialty business.

Great-West Life is a
leading life and health insurer in Canadianmarket. Together with its subsidiary, London Life, Great-West Life serves the financial security needs of more than nine10 million Canadians through a network of Great-West and Freedom 55 FinancialTM security advisors, and through brokers and marketing partnerships with other financial institutions.people across Canada. Great-West Life and London Life are members of the Power Financial Corporation group of companies.

Sun Life Financial is a leading international financial services organization providing a diverse range of wealth accumulation and protection products and services to individuals and corporate customers. Tracing its roots back to 1871, Sun Life Financial and its partners today have operations in key markets worldwide, including Canada, the United States, the United Kingdom, Hong Kong, the Philippines, Japan, Indonesia, India and Bermuda. As of March 31, 2001 the Sun Life Financial group of companies has total assets under management of CDN$316 billion.

Sun Life Financial Services of Canada Inc. trades on the Toronto (TSE), New York (NYSE), and Philippine (PSE) stock exchanges under the ticker symbol “SLC”, and on the London Stock Exchange under ticker symbol “SFC.”