My CHOICE Plans - transition solutions for exiting plan members
We've seen tremendous success since the launch of My CHOICE Plans in February of this year. Plan sponsors across the country have taken advantage of our streamlined enrolment approach – one phone call is all it takes – to help exiting plan members maintain coverage with Sun Life Financial.
My CHOICE Plans are specifically designed as transition solutions for plan members with employee group coverage that has recently terminated or will soon be terminated. Plan members may be transitioning to:
- another job,
- self employment,
- contract or part time employment,
- unemployment, or
My Life CHOICE
Exiting plan members may apply for the new My Life CHOICE product that allows them to purchase coverage equal to their current level of coverage (basic and optional life combined) up to a maximum of $1,000,000 if they enroll within 31 days from the day their employee group benefits coverage ends.
My Health CHOICES
Exiting plan members can also maintain Group Critical Illness Insurance (up to $100,000) without providing proof of good health, if they enroll within 31 days from the day their group benefits coverage ends.
Exiting plan members can also maintain Extended Health Care and Dental Insurance without providing proof of good health, if they enroll in My Health CHOICE within 60 days from the date their eligibility for group benefits coverage ends.
My Savings CHOICES
My Savings CHOICES provide exiting Group Retirement Services plan members the option to transfer their group savings to an exclusive savings plan with Sun Life Financial.
Reminder: Eligibility requirement
To enrol in one of the My CHOICE Plans transition products, plan members must have been actively at work at the time their employee group benefits terminated (or reduced, in the case of My Life CHOICE) and be transitioning to another job, self-employment, contract or part-time employment, unemployment or retirement.
Enrolling is easy!
All applications for the My Life, My Health and My Savings CHOICES will be handled by licensed specialists and enrollment will be completed over the phone – making it easy for exiting plan members to get the coverage they need when they need it.
Please contact your advisor