New life insurance products help Canadians plan, protect, and prosper

Sun Life Financial answers call for participating, permanent life products

 

WATERLOO, ON, June 7 /CNW/ - Sun Life Financial today announced that two new participating, permanent life insurance products, Sun Par Protector and Sun Par Accumulator, will be added to its broad and innovative suite of life and health insurance and wealth management products available to Canadians.

"Our Sun Par products are two powerful life insurance products that can help clients protect their family and assets," said Kevin Strain, Senior Vice-President, Individual Insurance and Investments, Sun Life Financial. "These new products give clients the opportunity to generate long-term growth through policyholder dividends from a leader in the Canadian insurance industry."

Canadians who make these protection products part of their overall financial strategy benefit from the strong foundation of guarantees, including minimum guaranteed death benefit and cash value. Both products offer clients lifetime protection, choice from a variety of dividend options, and a wide range of additional features to customize the product. Depending on their needs, clients can choose:

 

-   Sun Par Protector: for longer-term needs, including estate
        protection, coupled with the flexibility to enhance their retirement
        through access to the cash in the policy if their needs change.
    -   Sun Par Accumulator: for higher early cash values for clients needing
        $500,000 or more of lifetime coverage, in exchange for modestly lower
        long-term growth.

 

These Sun Par products, available later this month through Sun Life Financial advisors and a select group of advisors partnering with Sun Life, will appeal to Canadians looking for effective solutions to protect their families, innovative ways to save for retirement, or an effective cornerstone in their estate planning needs. Business owners, professionals, and executives will be a particularly strong fit for the product.

"These products have proven through the years that they can be a valuable, tax efficient part of a client's financial plan," said Strain. "Canadian consumers are demonstrating a renewed interest in participating whole life insurance, and Sun Life is the company to provide it."

This year, Sun Life Financial received prominent recognition for its reputation, brand, and sustainability:

 

-   Canadian Business magazine: Sun Life Financial Canada named the 12th
        most reputable company in the country, making Sun Life the highest-
        ranked financial institution in Canada.
    -   Reader's Digest Trusted Brand award: Sun Life Financial Canada for
        its Life Insurance operations.
    -   Ranked as one of the Global 100 Most Sustainable Corporations in the
        World, the only life insurance company in North America on the list.

 

The Sun Par products will be issued by Sun Life Assurance Company of Canada, a member of the Sun Life Financial group of companies.

 

About Sun Life Financial

 

Sun Life Financial is a leading international financial services organization providing a diverse range of protection and wealth accumulation products and services to individuals and corporate customers. Chartered in 1865, Sun Life Financial and its partners today have operations in key markets worldwide, including Canada, the United States, the United Kingdom, Ireland, Hong Kong, the Philippines, Japan, Indonesia, India, China and Bermuda. As of March 31, 2010, the Sun Life Financial group of companies had total assets under management of $435 billion. For more information please visit www.sunlife.com.

Sun Life Financial Inc. trades on the Toronto (TSX), New York (NYSE) and Philippine (PSE) stock exchanges under the ticker symbol SLF.

Note to Editors: All figures in Canadian dollars.