Sun Life Financial’s My Life CHOICE provides the opportunity for plan members leaving their employer to maintain up to $1,000,000 of life insurance coverage
TORONTO, May 12 2009 – Employees leaving a Sun Life Financial group benefits plan now have peace of mind when it comes to their group life insurance. Plan members can apply for the same amount of group life insurance coverage they had in place under their group benefits plan – up to $1,000,000 – at affordable group rates. This annually-renewable term life insurance is exclusively available to Sun Life group plan members within 31 days of leaving a group plan. Instead of a full medical exam, employees leaving their group plan will only be asked a few health questions to qualify for coverage.
“My Life CHOICE is specifically designed to provide plan members leaving a group plan with a life insurance solution that’s affordable and can meet their protection needs,” said Tom Reid, Senior Vice-President, Direct Distribution, Sun Life Financial Canada. “We’ve created a solution that reaches beyond the standard life insurance conversion options available in the marketplace ensuring that people have one less thing to worry about during a time of change.”
The My Life CHOICE insurance solution is available through Sun Life’s call centre. Customer Service Representatives are available to answer plan member questions, provide quotes and walk the member through the application process on the phone – making the experience as simple and straightforward as possible.
“Our streamlined conversion process gives people looking for quick and effective solutions the protection they require in the manner that works best for them,” said Reid. “If plan members require more comprehensive financial solutions or holistic advice, we’re able to offer them the services of a highly qualified Sun Life Financial advisor.”
My Life CHOICE is part of a suite of products that makes it easier for members leaving a group plan to take their coverage with them. Plan members may also choose to maintain their Optional Critical Illness Insurance and Extended Health Care and Dental coverage plans or transfer their retirement savings from their employer plan to a personal plan with Sun Life.
For more information about My Life CHOICE or other products and services available to plan sponsors, visit www.sunlife.ca/makeiteasier.
About Sun Life Financial
Sun Life Financial is a leading international financial services organization providing a diverse range of protection and wealth accumulation products and services to individuals and corporate customers. Chartered in 1865, Sun Life Financial and its partners today have operations in key markets worldwide, including Canada, the United States, the United Kingdom, Ireland, Hong Kong, the Philippines, Japan, Indonesia, India, China and Bermuda. As of March 31, 2009, the Sun Life Financial group of companies had total assets under management of CDN$375 billion.
Sun Life Financial Inc. trades on the Toronto (TSX), New York (NYSE) and Philippine (PSE) stock exchanges under ticker symbol SLF.
