PHI and HCC – new rates coming April 1

As we shared in December, we review our PHI and HCC pricing on an annual basis. We’re seeing an ongoing increase in claims we’re paying to Clients, which affects our outlook on future claims costs. As a result, new rates will take effect for PHI and HCC starting April 1, 2025.

With this change, we’ve received feedback from advisors asking about the value within Sun Life’s PHI and HCC, especially in comparison to competitors in the market. In recent years, the competitive landscape has changed, and there are more carriers offering a wider variety of plans. Clients have many options. However, Sun Life’s PHI and HCC are more comprehensive in some coverage areas, and while this may result in higher premiums in cases, these products continue to provide quality protection to meet Clients’ unique needs. 

Resources:

• Refer to the PHI and HCC premium rate change page for the full details and review the updated PHI and HCC rate cards. 
• Help Clients understand the value that quality coverage provides to their overall well-being and financial protection by using:
  • Competitive edge to help highlight for Clients the unique value of these products.
  • 10 things you need to know about PHI and HCC to outline the top features of Sun Life’s solutions and how they can help meet a Client’s need.

Contact us:

• For in-force business, contact the Customer Care Centre at 1-800-800-4786:
  • English Press 1,2  
  • French Press 2,1,2
• For new business, contact salesdesk@sunlife.com