Get ready to help new Clients save on term life insurance. Starting May 26, we’re lowering rates on the following term solutions:
- Evolve Term (including additional coverage layers)
- Term Insurance for Diabetes
- Term insurance benefits
What does it mean for Clients?
- Leading rates at $2 million and above: we’ve reduced rates by 0-10%, with an average reduction of 1% for ages 18+.
- For all rates under $2 million: we’ve reduced rates by 0-15%, with an average reduction of 2% for ages 18+.
- For T25 and longer terms at $1 million to $1.99 million: we’ve reduced rates by 5-13%, with an average reduction of 7% for ages 18+.
- For mortgage protection: we’ve reduced T25 rates by 5-15% for $500,000 to $999,000, with an average reduction of 9% for ages 18 to 40.
Note: We’ve updated 17 and 18 year old smoker rates that were illustrating lower than intended. You may notice these rates are slightly higher after the reprice.
With new rates for new business coming into effect soon, it’s a good time to let Clients know that, with term, they get both flexibility and affordability.
New rates will be reflected in the web version of Sun Life Illustrations and in LifeGuide on May 26.
Reminder: We retired the desktop version of Sun Life Illustrations. Use the web version to ensure you’re illustrating the new term rates.
Visit the Suncentral Term reprice page to see all the details.
