Sun-Life Financial provides an excellent option for employer based coverage. However, you may need to consider securing coverage outside your employer. At TermLife2Go, we work with dozens of top rated best life insurance companies offering exam and no medical exam life insurance. Give us a call today to see what we can do for you.
Note: We are not Sunlife Financial. You can visit the company online at sunlife.com/us or by phone at 1-800-SUNLIFE.
Sun Life Financial Review
Pros of Sun Life Financial
Sun Life Assurance Company of Canada has a presence in multiple countries across the globe. They work in Europe, Asia, and the Americas, including the United States. The company continues to expand through acquisitions and organic growth. During the financial crisis, they were never in need of assistance or bailout, and remained a strong and healthy company. As of 2015, they were the 16th largest insurance company in the world.
About Sun Life Financial
Sun Financial first opened its doors in 1865, and it has been going strong ever since. Though they started in Canada, they have had a presence in the United States for over a century. With more than 150 years of experience in the lie insurance business, Sun Financial has made a name for itself as a top insurance provider. Sun Financial offers many types of insurance including:
- Long-term disability
- Short-term disability
- Accidental death
- Critical illness
- Group Life Insurance
Life Insurance Products offered by Sun Life Financial
Sun Life offers to different types of life insurance policies, term and permanent. Both of these policies offer death benefit protection. However, when you are considering which product is right for you it is important to understand the similarities and differences between term vs permanent life insurance.
Term life last for the period of time, known as the term. If you die during the term, your beneficiary receives a lump sum death benefit payment. Terms can be as short as one year annually renewed, up to 30 years. Upon expiration of the term, the policy may offer the option of converting to permanent life insurance.
Universal life insurance is a type of permanent coverage that provides lifetime protection. The policy offers more flexibility than the other permanent policy, whole life insurance. The flexibility of universal life is due to the ability to pay more or less premiums, based on the cash value in the policy. Also, the death benefit can usually be adjusted higher or lower, to take into account your changing lifestyle and need.
Sun Financial Ratings
When choosing a life insurance company, you need to make sure the company is financially strong enough to stick around, especially if you are buying a life insurance policy at a relatively young age. The last thing you want is to purchase a life insurance policy from a company that isn’t around when your life insurance beneficiaries need it.
That’s where rating agencies come in handy. They examine the financial operations of life insurance companies to see just how reliable they really are. These ratings help you get an idea as to the company’s current financial standing and their projection for the future.
Sun Life and Health Insurance Company was given the following ratings:
- Standard & Poor’s: AA- (Very Strong)
- A.M. Best Company: A+ (Superior)
These are two of the most widely respected rating agencies in the United States. Both of these ratings shows a strong vote of confidence in Sun Life Financial as a company and a life insurance provider.
Drawbacks of Sun Life Financial
Sun Life Financial actually focuses on group life insurance packages. Rather than selling to individuals, they are perfect for employers who then offer it to their employees. If you are an individual seeking a life insurance company independent of your employer, then it may not be the route to go.
If you are employed by a company that is offering Sun Life Financial, you may think that your company has done adequate research and in choosing to offer their policies, they are endorsing the company. While it is true that Sun Life Financial is a great life insurance company, you still need personalized advice.
Is Sun Life Financial for me?
This is the question that every life insurance seeker wants to know, but unfortunately a simple internet search isn’t the way to answer it. You are looking for the answer to a very specific question—about your individual needs—so how can a blog post or any other information on the internet give you the right life insurance advice without really knowing your situation?
Just because your boss has chosen to give you the option to purchase a life insurance policy from Sun Life Financial, doesn’t mean it’s the only way to go. Purchasing a policy from Sun Life Financial through your employer may be a great decision for some of your colleagues, but it is unlikely that it’s going to be the best policy for everyone.
So, that begs the question—are you one of the people Sun Life Financial is good for or not? Sun Life Financial might have the best life insurance policy for you—but we can’t be sure of that until we know about you. In order to be able to truly tell if Sun Life Financial—or any other life insurance company—has the right type of life insurance policy for you, we need to know things such as your:
- Needs and wants from a life insurance policy
- Medical records (current, history, and genetic)
- Habits and vices
- Weight, Height, BMI
- Vital stats such as Blood pressure, blood sugar, etc.
We at TermLife2Go know everything there is to know about dozens of the best life insurance companies in the United States—including Sun Life Financial—but what we don’t know about it you. Only after gathering this information can we truly tell you which company will offer you the best life insurance rates.
If Sun Life Financial is, then we will gladly recommend you buy your life insurance policy from them. If they are not, we will honestly tell you so, and we will provide you with some alternate life insurance options. Our job is to make sure you get the best life insurance rates and coverage possible. It’s as simple as that.
So, what are you waiting for? Give us a call today or visit our Life Insurance Quotes page and see what we can do for you!
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