
© Sun Life Assurance Company of Canada. All rights reserved.
Inforce Insurance Service Delivery by Key Process (in business days) |
Service Level Target |
Current Service Level |
Service Level Status |
---|---|---|---|
Accounting History |
10 |
10 |
|
Beneficiary Change |
5 |
7 |
|
Illustrations |
10 |
4 |
|
Inquiries |
15 |
10 |
|
Ownership Change |
20 |
12 |
|
Premium Payment Change |
7 |
5 |
|
Contact Changes (address, email) |
5 |
7 |
|
Plan Change without UW |
20 |
12 |
|
Plan Change with UW |
30 |
32 |
|
Reinstatement |
20 |
23 |
|
Surrender |
5 |
8 |
|
Withdrawal/Loans/Transfers |
5 |
4 |
|
Key process for Wealth | Service Standards for Wealth |
---|---|
Investment direction on wealth products | 2 business days and effective the date received. |
Wealth income payment updates Includes new additions or change to existing income payments on wealth products |
Processed within 2 business days |
Withdrawals on wealth products | 1 business day and sent via cheque |
Cheque holds for guaranteed investment certificates | 4 - 7 business days, depending on cheque amount and if deposit was in person. Request for first $100 processed immediately if deposited in person. |
Inquiries and investigations | Responded to within 1 - 5 business days, depending upon complexity. |
Address changes | Processed within 3 business days. |
Beneficiary changes | Processed within 5 business days. |
Payments, premiums, deposits and PAC changes | Payments will be processed within 2 business days effective the date received, if received before 4:00 p.m. at our head office. |
Internal Transfers within SLF on wealth products | 5 business days (backdated to date requested) |
Transfers to external company on wealth products (including transfers to CI/SLGI) | Where advisor is the same and no conservation is required, processed within 2 business days. |
Transfers with conserve to external company on wealth products (including transfers to CI/SLGI) | Processed within 10 business days, including the 5 day conservation period. |
Payout illustrations | Processed within 2 business days. Rates used in the illustration are guaranteed for 3 business days. |
Key Process For Claims | Service Standards for Claims |
---|---|
Life claim payments |
Life claim payments Life Claims where full requirements are received are paid within 5 to 7 business days. |
© Sun Life Assurance Company of Canada. All rights reserved.