We’re pleased to announce that the rates for the additional layer of term coverage will be the same as the Evolve Term base plan rates. Please note, we may decide to implement rates that are higher than the base plan rates in the future.
Pricing for the additional layer of coverage will be based on the:
- insured person’s attained age at the time of the increase,
- increase amount selected, and
- term length that aligns with the base plan’s renewal or expiry.
Tip! Rates for the additional coverage layer are not based on banded rates for the entire policy’s face amount. In some cases, it may be more cost effective for a healthy client to replace their policy.
See the updated Evolve Term advisor guide for details about conversion rules and illustrating additional coverage layers. We’ve also updated the Evolve Term Client guide with information about conversions for the additional coverage layers.
Evolve Term gives Clients a flexible solution that adapts to life’s changes. It also offers you the opportunity to ensure their overall plan continues to meet their changing needs.
contact: salesdesk@sunlife.com
