Sun Life Canada: Life And Health Insurance Review

Need information on Sun Life insurance company’s life and health insurance? You’re at the right place. This page features a quick review of Sun Life Canada. Read on!

Sun Life Financial Inc. is a Canadian insurance company that is primarily known as a life insurance company. It is headquartered at Regional Municipality of Waterloo, Ontario.

Sun Life Company has lasted this long because of foundational trust from clients as a responsible business, and the company is focused on making positive impact in the society by increasing financial security.

The company has a strong reputation which means you can feel safe and secure, knowing you purchased your policy from an extremely competent company.

The company has an A+ financial strength rating from AM Best, which is the second-highest rating rank possible. This shows that the company has enough money to withstand financial crisis and repay policyholders in full after a covered claim.


Life Insurance

Sun Life insurance policy helps you to protect the financial security of the people that matters the most on the account of your death (for example, your spouse and children)

Types Of Life Insurance In Sun Life

Sun life offers two main types of life insurance as follows;

1) Term Life Insurance: As the name implies “term life insurance”. It guarantees payment of a stated death benefit if the policyholder dies within the stipulated period of time. Term periods may last from 1 – 30 years.

It is important to note that, term life insurance policies do not redeem financial claims unless the holder dies within the stipulated period of time.

2) Permanent Life Insurance: This is a life insurance policy which remains in force for the insured’s entire lifetime, provided the insured pays the required premiums, or to the maturity date.


Permanent life insurance policy covers you from the time you buy a policy to the time you pass away.

Health Insurance

Sun Life Health insurance policy helps provide you and your family financial aid when you’re ill, involve in an accident, or disabled.

Types Of Health Insurance In Sun Life

Sun Life offers four main types of health insurance as follows;

1) Personal health insurance: This insurance policy helps pay off your health expenses such as prescription drugs, dental care, vision care, etc.

2) Critical illness insurance: This insurance policy helps pay off the total cost associated with surviving a near death illness.


3) Long-term care insurance: This insurance policy covers and pay off the cost when you require financial assistance from others as a result of diminished physical or mental abilities.

4) Disability insurance: This insurance policy helps protect your income if you become disabled by accident or any other thing and can’t work.

Cancellation Policy

When you buy a life or health insurance policy from Sun Life, the cancellation policy is very flexible and can be done at any time. Term life coverage will end automatically once you stop paying the premiums, and you won’t be asked to pay any surrender fees.

When you cancel a permanent life insurance policy, you will receive a check for the unused cash value (i.e No surrender fees).

Final Words On Sun Life

Insurance is very important as it’s the foundation of your back up plan for a secured financial future because life is unpredictable. It helps protect your family by providing financial aid when you’re sick or gone.


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