Simple, guaranteed and now more affordable.

Starting November 17, we’re making Sun Permanent Life even more affordable. This set-it-and-forget-it solution helps offer Clients the simple and guaranteed protection they need. And we’re still the only provider to offer a return of premium on death benefit! Find out more.

Request support

Help more Canadians save on permanent life insurance

Take advantage of these new rates and Sun Permanent Life’s unique product benefits to help meet the needs of high net-worth individuals, families and mortgage protection seekers. 

New rates apply to new business base premiums for Sun Permanent Life. No impact to in-force policies.

What's changing as of November 17?

  • For the high net-worth market: We’re reducing rates by 10% for Clients age 18 and up for 10-Pay plans of $500K and above.
  • For the family market: We’re reducing rates by 5% for Clients age 25-45 up to $250,000.

Note: We’ve made some additional minor decreases to ensure pricing in other cells align with our new rates. As a result, you may notice small rate decreases for Clients age 20-25 with face amounts up to $250k and for Clients age 25-45 with face amounts between $250 and $500k.

Reminder: Use the web version of Sun Life Illustrations to get the new rates (not the desktop version).

For more in-depth product details including product at a glance, sample policies and more, visit the Permanent Insurance page.

Transition Rules

  • To ensure a smooth transition, please take a moment to review the following rules
  • You may experience some impacts to service levels during the transition period   
Sun Permanent Life application status What rates will apply?  
Signed and received after November 17, 2025. We’ll process the application as applied for and use NEW product rates in effect on November 17, 2025.  
Signed on or after November 17, 2025, with a backdate request for a date before November 17, 2025. We’ll process the application as applied for and use NEW product rates in effect on November 17, 2025.  
Signed and received before November 17, 2025  We’ll process the application as applied for and use OLD product rates in effect before November 17, 2025.  

If you have any questions, please contact your Regional Sales Director or Advisor Experience Team.

Why Sun Permanent Life?

  • Simple: Easy to understand, permanent life insurance that Clients can set and forget with no ongoing maintenance!
  • Guaranteed: Premiums, payment periods, cash values, death benefit. Plus, Sun Life is the only carrier to offer a return of premium on death (ROPD) benefit. Beneficiaries receive the full death benefit plus all the premiums paid into the plan, tax free.
  • Affordable: Lower rates to help meet Clients’ needs and budgets.

Special features

Unique ROPD optional benefit 

  • Sun Life is the only carrier to offer an ROPD benefit, available with 15 and 20-year pay plans up to age 50
  • Every dollar of premium is returned with the death benefit, including premiums for optional benefits, growing Clients’ legacy for their loved ones

Term insurance benefit (TIB)

  • Option to cover both temporary and permanent needs in one policy

Savvy Term

  • Clients can purchase a Sun Permanent Life policy and add an optional TIB and ROPD to meet multiple protection needs in one solution
  • Learn more and download the Savvy Term tool to help explain this benefit to Clients

Client target markets

High net-worth

  • Cover tax liabilities and/or permanent key earner protection
  • As a complement to Wealth strategy
  • Estate preservation and equalization
  • Charitable giving
  • 10-Pay option for fully paid-up insurance in a short time

Pre-retirees & retirees 

  • Cover final expenses
  • An easy-to-understand conversion option for their term plan
  • Replace lost income if a key earner dies
  • Estate preservation

Families

  • Low cost (for the budget constrained)
  • Low maintenance for busy families
  • Combine with TIB for mortgage protection
  • Lock in low rates for final expense coverage while younger and healthier
  • Replace lost income if a key earner dies
  • Estate preservation

Meet term and perm needs with one simple solution: Savvy Term

Clients looking to cover both temporary and permanent needs can add a term optional benefit and ROPD to their policy which we call the Savvy Term solution. This solution:

  • offers Clients permanent protection for final expenses or estate planning needs,
  • helps to cover temporary needs, like a mortgage with an optional term insurance benefit on the plan, and
  • creates a growing death benefit with optional ROPD benefit.
    • With this option, the premiums for both the permanent coverage and the term rider are included in the death benefit.

Use this tool to help Clients visualize the benefits of Savvy Term.

Resources