We recognize that a growing part of the insurance market is made up of recent immigrants and temporary residents to Canada. Providing more of these Clients access to life insurance and living benefit products has become an important part of Sun Life’s strategy.
Key updates include*:
- Streamlining guidelines to better align with information provided by Immigration, Refugees and Citizenship Canada
- Adding new insurance categories for students with study permits, with up to $250,000 for life coverage
- Introducing up to $100,000 in critical illness coverage for refugees*
- Allowing up to $250,000 in life coverage for all other temporary residents who have resided in Canada for at least three months and have a valid work permit*
*Certain exclusions will apply
Please note that due to the nature of the temporary residents’ cases, it may take longer to obtain all necessary residency and medical requirements to underwrite these Clients.
