Pros and Cons of Sun Life Insurance
Sun Life exclusively provides group coverage through employers in the US. In its native Canada, the corporation sells individual life insurance, but not in the United States.
As a component of your employee benefits package, your company is required to provide coverage via Sun Life. You should be aware of Sun Life's financial stability and low customer complaint rate if your firm offers life insurance through them.
Best financial health rating: Sun Life has an AM Best financial strength grade of A+ (Superior), the highest possible rating. This indicates that the business will be better able to fulfil its ongoing insurance duties, including paying claims.
Customers rarely complain: Over the previous three years, the company received fewer complaints than anticipated. 2 Covers big businesses:
Covers large businesses: For businesses with two to more than 25,000 employees, coverage is offered.
Moveable and adaptable term insurance: Employees can take their coverage with them when they quit their employers or make it permanent if they no longer qualify for benefits. The insured is obligated to pay the premiums after quitting their work.
Group Insurance Only: Only for group insurance can you obtain coverage in the United States if your company provides it and you are qualified because individual insurance is not offered there.
Online product information is scarce: There is little information on group life insurance, though there may be more via your employer's benefits site.