Protection for life, for less.

From October 15 to December 31, 2025, Clients who submit an application for a universal life or non-par permanent policy may be eligible to receive a cheque valued at four months of their premium or cost of insurance (COI).

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This is for policies that remain in force for at least one year from the date the policy is issued. The premium/COI discount will be reflected in the terms of the policy(ies) receiving the discount.

Benefits for Clients

Both permanent whole life and universal life coverage offer Clients lifetime protection and may accumulate cash value over time. They’re a valuable tool to help ensure a tax-free payment to beneficiaries. While similar in many ways, each has their own unique advantages as well.

Permanent life insurance

  • Simple, easy-to-understand permanent coverage
  • Affordable coverage with guaranteed premiums
  • Four guaranteed premium payment options
  • Guaranteed cash surrender value starting in year 3

Universal life insurance

  • Unique blend of permanent insurance with a savings component
  • More control and flexibility to meet each Client’s unique needs
  • Tax-preferred savings growth within the life insurance policy

Check in with Clients interested in:

  • support with estate planning and tax-efficient wealth transfers
  • simple permanent coverage to ensure end-of-life expenses are covered
  • building tax-deferred cash value over time that can be accessible when needed
  • a range of investment options to meet their unique financial and savings goals

This offer is applicable to new policy applications as well as conversions or replacements from a term policy to a permanent policy. This offer won’t be eligible for Clients who cancel a conversion application currently in flight and reapply.

  • The non-par permanent or Universal Life policy(ies) must remain in force for one year to be eligible for the premium discount. The eligibility window begins from the settle/anniversary date.
  • For any qualifying Universal Life policies, the discount will be equivalent to 4 months of cost of insurance (COI), based on a monthly average of the COI charged for the policy during the one-year qualifying period.
  • Sun Permanent Life can be backdated up to 12 months. Sun Universal Life II can be backdated up to 10.5 months.
  • Conversions from a qualifying term policy are eligible. 
  • If optional benefits (eg. GIO, BPB, Disability waiver etc.) are chosen, the costs for the optional benefits will also be included in the premium discount. The cost of any term insurance benefit will not be included in the premium discount.  
  • Clients with existing applications in flight that cancel to reapply just to become eligible for the offer won’t qualify. These changes cause trouble for our operation teams, could impact cycle times, and potentially delay the Client’s coverage resulting in a poor experience.
  • After the one-year eligibility window, we will notify the Client about the four-month premium/COI discount they will receive. See “Sample Client letter and amendment”. The cheque will always be sent to the policy owner for each policy that qualifies.
  • The premium discount will be reflected in the terms of the policy(ies) receiving the discount.