Sun Life

Products & Services

• Term Life Insurance

  Sun Life Term Life Insurance is an individual term life insurance policy that provides affordable financial protection for a selected period of time, helping safeguard your family's financial future if you pass away during the policy term. Coverage is available for terms ranging from 5 to 40 years, depending on the product selected. If the insured dies while the policy is in force, beneficiaries receive a tax-free lump-sum death benefit that can be used for any purpose, including replacing lost income, paying off a mortgage, funding education, or covering everyday living expenses. Premiums remain level throughout the selected term, and eligible policies may be converted to permanent life insurance without requiring new medical evidence. One of its most valuable features is the flexibility to choose a coverage period that matches your financial obligations while preserving the option to convert to permanent life insurance if your long-term needs change. Coverage amounts, premium rates, renewability, conversion privileges, underwriting requirements, exclusions, and policy provisions are subject to the terms and conditions of the policy.

• Sun Guaranteed Investments

  Sun Guaranteed Investments are guaranteed investment solutions designed for individuals seeking capital preservation, predictable returns, and stable long-term savings. Sun Life offers products such as Accumulation Annuities (AA) and Guaranteed Investment Certificates (GICs) that provide a guaranteed rate of interest over a selected investment term. These products are suitable for conservative investors who want to protect their principal while earning fixed, guaranteed growth. They can also be held within registered plans such as RRSPs, TFSAs, RRIFs, FHSAs, and other eligible accounts, making them valuable tools for retirement and tax-efficient savings. One of their most valuable features is the guarantee of both principal and interest, providing peace of mind regardless of market fluctuations. Interest rates, available terms, minimum investment amounts, eligibility, and product features vary by product and are subject to Sun Life's current offerings and applicable contract terms.

• Disability Insurance

  Income protection designed to help replace a portion of your earnings if illness or injury prevents you from working.

• Sun Life Whole Life Insurance

  Sun Life Whole Life Insurance is an individual permanent life insurance policy that provides lifelong protection while helping build long-term financial value. As long as the required premiums are paid and the policy remains in force, coverage lasts for the insured's lifetime, and beneficiaries receive a tax-free lump-sum death benefit upon the insured's death. Depending on the product selected, the policy may also accumulate guaranteed cash value, which can grow over time and may be accessed in accordance with the policy provisions. Eligible participating policies may also receive policyholder dividends, although dividends are not guaranteed. One of its most valuable features is the combination of guaranteed lifetime insurance protection with guaranteed cash value growth, providing both long-term financial security and estate planning opportunities. Coverage amounts, premium options, cash values, dividends, policy loans, underwriting requirements, and other features are subject to the terms and conditions of the policy.

• Sun Life Participating Life Insurance

  Sun Life Participating Life Insurance is an individual participating permanent life insurance policy that provides lifelong financial protection while offering the opportunity to receive non-guaranteed policyholder dividends. As long as the policy remains in force, beneficiaries receive a tax-free lump-sum death benefit upon the insured's death. In addition to guaranteed lifetime coverage, the policy builds guaranteed cash value, which increases over time and may be accessed in accordance with the policy provisions. Eligible participating policies may also earn annual dividends based on the performance of Sun Life's participating account. Policyholders can choose from several dividend options, such as purchasing additional paid-up insurance or reducing premiums, subject to the policy terms. One of its most valuable features is the combination of guaranteed lifetime coverage, guaranteed cash value growth, and the potential to receive non-guaranteed annual dividends that can enhance the policy's long-term value. Dividend payments are not guaranteed and depend on the experience of the participating account. Coverage, premiums, cash values, dividends, underwriting requirements, and policy provisions are subject to the terms and conditions of the policy.

• SunUniversalLife Insurance

  SunUniversalLife Insurance is an individual permanent life insurance policy that combines lifelong insurance protection with tax-advantaged investment opportunities within a single policy. As long as the policy remains in force and funding requirements are met, beneficiaries receive a tax-free lump-sum death benefit upon the insured's death. In addition to permanent life insurance coverage, the policy allows policyowners to allocate deposits to a variety of investment account options, giving them flexibility to build tax-advantaged investment value based on their financial objectives and risk tolerance. Premium payments and death benefit options can also be customized, subject to policy limits and regulatory requirements. One of its most valuable features is its flexibility, allowing policyowners to combine permanent life insurance with customizable investment options and funding strategies within the same policy. Investment performance, policy values, premium requirements, underwriting, fees, charges, and policy provisions are subject to the terms and conditions of the contract.

• Sun Critical Illness Insurance

  Sun Critical Illness Insurance is an individual critical illness insurance policy designed to provide financial support if the insured is diagnosed with a covered critical illness that meets the policy definitions and survival requirements. Upon approval of an eligible claim, the policy pays a tax-free lump-sum benefit directly to the policyowner. The benefit can be used however the policyowner chooses, including covering medical expenses not funded by provincial healthcare plans, replacing lost income, paying household bills, reducing debt, modifying a home, or supporting family members during recovery. Depending on the selected plan, optional features such as Return of Premium may be available. One of its most valuable features is the flexibility of its tax-free lump-sum payment, allowing policyowners to use the benefit in whatever way best supports their financial and personal recovery. Coverage amounts, eligible illnesses, optional benefits, underwriting requirements, survival periods, exclusions, and policy provisions are subject to the terms and conditions of the policy.

• Sun Long-Term Care Insurance

  Sun Long-Term Care Insurance is an individual long-term care insurance policy designed to help provide financial support if the insured becomes unable to perform everyday activities independently because of aging, illness, injury, or cognitive impairment. Once the policy's eligibility requirements are met, it pays a monthly benefit that can be used to help cover the cost of long-term care services, whether care is received at home, in an assisted living facility, or in a licensed long-term care residence. Benefits are paid directly to the policyowner and may be used for professional caregivers, nursing support, home modifications, or other eligible care-related expenses. One of its most valuable features is the flexibility to receive monthly benefits regardless of where eligible care is provided, helping preserve personal savings while allowing policyowners greater choice in how and where they receive care. Benefit amounts, waiting periods, benefit periods, eligibility criteria, underwriting requirements, exclusions, and policy provisions are subject to the terms and conditions of the policy.

• Sun Life Personal Health Insurance

  Sun Life Personal Health Insurance is an individual health insurance policy designed to help cover eligible healthcare expenses that may not be included under provincial health plans. It is well suited for self-employed individuals, retirees, students, employees who have lost workplace benefits, or anyone seeking additional health coverage. Depending on the plan selected, coverage may include prescription drugs, dental care, vision care, paramedical practitioners, hospital accommodation, ambulance services, medical equipment, and emergency travel medical coverage. One of its most valuable features is the flexibility to choose a level of health coverage that complements provincial healthcare while helping reduce out-of-pocket medical expenses. Benefits, coverage options, waiting periods, exclusions, eligibility, and policy provisions are subject to the terms and conditions of the selected plan.

• Sun Retirement Health Assist

  Sun Retirement Health Assist is an individual long-term care insurance policy designed to help Canadians prepare for the potential costs of extended care during retirement. The policy provides an income-style weekly benefit if the insured becomes dependent due to aging, illness, injury, or cognitive impairment and meets the policy's eligibility requirements. Benefits can be used without submitting receipts and may help pay for care received at home, in a retirement residence, or in a licensed long-term care facility, giving policyowners the flexibility to choose the care that best suits their needs. The policy also includes valuable features such as inflation protection, waiver of premium after an approved claim, and an automatic return of premiums if the insured dies before coverage becomes effective. One of its most valuable features is the freedom to use the weekly benefit wherever eligible care is received without providing receipts, allowing policyowners to preserve retirement savings while maintaining greater independence and choice. Coverage, benefit amounts, waiting periods, underwriting requirements, eligibility, exclusions, and policy provisions are subject to the terms and conditions of the policy.

• Segregated Fund Contracts

  Sun Life Guaranteed Investment Funds (Sun Life GIFs) are segregated fund contracts that combine the growth potential of professionally managed investments with the protective features of a life insurance contract. Similar to mutual funds, these investments hold diversified portfolios of stocks, bonds, and other securities, while offering additional guarantees that are available only through insurance contracts. Depending on the selected series, investors may benefit from 75% to 100% maturity and death benefit guarantees, potential creditor protection in certain circumstances, beneficiary designations that may bypass the estate, and optional guaranteed lifetime income solutions. One of its most valuable features is the combination of market growth potential with insurance-based guarantees that can help protect invested capital while enhancing estate planning flexibility. Guarantees are reduced by withdrawals and are subject to the terms of the contract. Investment performance, guarantees, fees, eligibility, creditor protection, and policy provisions vary by product and are subject to applicable legislation and contract terms.

• Sun Life First Home Savings Account (FHSA)

  Sun Life First Home Savings Account (FHSA) is a registered savings and investment account designed to help eligible Canadians save for the purchase of their first home. It combines key advantages of both an RRSP and a TFSA by allowing tax-deductible contributions while providing tax-free withdrawals when the funds are used to purchase a qualifying first home. Investors can choose from a variety of eligible investment options based on their financial goals and risk tolerance, making the FHSA a flexible solution for long-term homeownership planning. One of its most valuable features is the combination of immediate tax deductions and tax-free withdrawals for an eligible first home purchase, helping maximize savings while reducing the overall tax burden. Annual and lifetime contribution limits, eligibility requirements, qualifying withdrawals, investment options, and account rules are governed by the Income Tax Act and the terms of the selected investment product.

• Sun Life Tax-Free Savings Account (TFSA)

  Sun Life Tax-Free Savings Account (TFSA) is a registered savings and investment account that allows Canadians to grow their investments on a tax-free basis. Contributions are made with after-tax dollars, and any investment income, including interest, dividends, and capital gains earned within the account, grows tax-free. Qualified withdrawals are also tax-free, making the TFSA a flexible solution for both short-term and long-term financial goals such as building an emergency fund, saving for a home, education, retirement, or other major expenses. Investors can choose from a wide range of eligible investment options offered through Sun Life to match their objectives and risk tolerance. One of its most valuable features is the ability to earn investment growth and make withdrawals completely tax-free while restoring contribution room for eligible withdrawals in future years. Contribution limits, eligibility requirements, investment options, and withdrawal rules are governed by the Income Tax Act and the terms of the selected investment product.

• Sun Life Locked-In Retirement Account (LIRA)

  Sun Life Locked-In Retirement Account (LIRA) is a registered retirement investment account designed to hold pension funds transferred from a registered pension plan (RPP) when an individual leaves an employer or becomes eligible to transfer vested pension benefits. The account allows investments to continue growing on a tax-deferred basis while preserving the funds for retirement, as withdrawals are generally not permitted until retirement age except in specific situations allowed by pension legislation. Sun Life offers a variety of investment options that enable individuals to build a retirement portfolio aligned with their financial objectives and risk tolerance. One of its most valuable features is the ability to preserve pension savings in a tax-deferred environment while giving investors flexibility to choose from a range of professionally managed investment solutions. Transfer rules, unlocking provisions, investment options, contribution restrictions, and withdrawal conditions are governed by applicable federal or provincial pension legislation, the Income Tax Act, and the terms of the selected investment product.

• Sun Life Registered Retirement Savings Plan (RRSP)

  Sun Life Registered Retirement Savings Plan (RRSP) is a registered retirement savings and investment account designed to help Canadians build long-term financial security for retirement while benefiting from valuable tax advantages. Contributions made to an RRSP are generally tax-deductible, reducing taxable income for the year in which they are made. Investments within the account grow on a tax-deferred basis, allowing interest, dividends, and capital gains to compound without immediate taxation until funds are withdrawn. Sun Life offers a wide range of eligible investment options to help investors create a retirement strategy that aligns with their financial objectives and risk tolerance. One of its most valuable features is the combination of immediate tax savings through deductible contributions and tax-deferred investment growth, helping maximize retirement wealth over time. Contribution limits, withdrawals, transfers, investment options, and account rules are governed by the Income Tax Act and the terms of the selected investment product.

• Sun Life Registered Retirement Income Fund (RRIF)

  Sun Life Registered Retirement Income Fund (RRIF) is a registered retirement income account designed to provide Canadians with a tax-efficient way to convert retirement savings into a regular source of income after retirement. Funds are commonly transferred from an RRSP or another eligible registered retirement plan without immediate tax consequences. Investments within the RRIF continue to grow on a tax-deferred basis, while the account holder is required to withdraw at least the minimum annual amount established under the Income Tax Act. Sun Life offers a broad selection of investment options, allowing retirees to balance income needs, growth potential, and risk tolerance throughout retirement. One of its most valuable features is the ability to continue growing retirement investments on a tax-deferred basis while receiving flexible retirement income that can be tailored to individual financial needs. Minimum withdrawal requirements, taxation of withdrawals, investment options, eligibility, and account rules are subject to the Income Tax Act and the terms of the selected investment product.

• Sun Life Life Income Fund (LIF)

  Sun Life Life Income Fund (LIF) is a registered retirement income account designed for individuals who are converting locked-in pension savings into retirement income. Funds are typically transferred from a Locked-In Retirement Account (LIRA) or another eligible locked-in retirement plan. Investments within the account continue to grow on a tax-deferred basis, while the account holder receives retirement income through withdrawals that are subject to both minimum and maximum annual limits established under applicable federal or provincial pension legislation. Sun Life offers a broad range of investment options, allowing retirees to balance income needs with long-term investment growth. One of its most valuable features is the ability to generate flexible retirement income from locked-in pension assets while continuing to benefit from tax-deferred investment growth. Withdrawal limits, taxation, investment options, transfer rules, eligibility requirements, and account provisions are subject to applicable pension legislation, the Income Tax Act, and the terms of the selected investment product.

• Non-Registered Investments

  Sun Life Non-Registered Investments are investment accounts that are not registered under the Income Tax Act and are designed for individuals who have maximized their registered account contribution limits or are seeking additional investment flexibility. These accounts allow investors to access a broad range of investment solutions, including mutual funds, segregated fund contracts, guaranteed investments, and other eligible products offered through Sun Life. Unlike registered accounts such as RRSPs or TFSAs, there are no annual contribution limits, providing greater flexibility for building wealth and pursuing long-term financial goals. One of its most valuable features is the unlimited contribution capacity, allowing investors to continue growing their portfolios after registered account limits have been reached while maintaining access to a diverse range of investment options. Investment income may be taxable, and investment performance, taxation, fees, eligibility, and product features are subject to applicable legislation and the terms of the selected investment product.

• Payout annuities

  Sun Life Payout Annuities are guaranteed retirement income products designed to convert accumulated savings into a predictable stream of income. In exchange for a lump-sum investment, Sun Life provides regular payments—typically monthly, quarterly, semi-annually, or annually—for a specified period or for the lifetime of the annuitant, depending on the annuity option selected. Payout annuities can help reduce the risk of outliving retirement savings while providing stable, guaranteed income that is not affected by market fluctuations. Options such as life annuities, joint life annuities, and guaranteed payment periods allow retirees to tailor their income strategy to meet personal and family financial objectives. One of its most valuable features is the ability to transform retirement savings into a guaranteed income stream that provides financial certainty throughout retirement, regardless of market conditions. Payment options, guarantee periods, taxation, eligibility, and contract provisions are subject to the terms of the selected annuity contract.

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