Sun Life launches two new permanent life products

By The IJ Staff | October 02 2019 02:35PM

Photo: Freepik

Sun Life Financial Canada announced this week that it is adding two new permanent life insurance solutions to its lineup for business owner clients – the SunUniversalLife Pro, and Sun Permanent Life products.

The company says the SunUniversalLife Pro product can help offset tax liabilities of a growing estate. It is designed to help business owners maximize shareholder value for the corporation, will allow the client to benefit from cash value growth in the policy and will allow clients to access that cash as needed through policy loans.

Clients choosing the SunUniversalLife Pro plan can choose one of three different death benefit options – a level insurance amount, an insurance amount plus policy fund or a level insurance amount plus adjusted cost base. Clients also choose a daily interest account, a guaranteed interest account or a Sun Life Diversified Account Pro to manage their savings.

The Sun Permanent Life insurance product meanwhile, provides guaranteed death benefits, premium payment options and guaranteed cash values. It is designed for those who wish to leave a gift to children, grandchildren, or a favourite charity or alma mater. Premiums are guaranteed for life and clients have the option to pay off their policies in 10, 15 or 20 years. Guaranteed cash values begin as early as year three.

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