Sun Life offers safety net for employees leaving group benefits plan

Employees leaving a Sun Life Financial group benefits plan now have peace of mind when it comes to their group life insurance, the insurer says.

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,” says 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 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,” says 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, the insurer says.

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.

IE