Make it easier -- solutions for today’s economy

 

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This is a challenging time for Canadian employers. We have all been impacted in one form or another. Whether you are undertaking a strategic restructuring of your organization, supporting employees through transition or simply helping employees with their financial planning and protection – we have a full range of solutions that can help.

Products and Services for Transitioning Plan Members

We’ve developed a comprehensive suite of products and services to help your plan members who are leaving their role in your organization.

My CHOICE Plans can provide life, health and critical illness coverage to employees who are leaving their group plan. Employees can apply for any or all of My CHOICE plans with one simple phone call to our full-service Customer Solutions Centre at 1-877-893-9893, Monday to Friday from 8:00am to 8:00pm EST. Our licensed Customer Service Representatives are there to answer any questions and provide a quote. And the member may be approved for coverage during the call … it’s that simple and convenient.

My Life CHOICES

As you know, employers are required to inform terminating employees of their life insurance conversion options. But we can help you do   more than that. My Life CHOICES offers  your plan members a lot more protection than standard conversion options - at a cost they can afford. Plan members leaving a Sun Life group benefits plan can apply for the same amount of group life insurance coverage they had in place – up to $1,000,000 – at attractive group rates. This annually-renewable term life insurance is an exclusive offer, available within 31 days of the employee leaving their group plan. And instead of a full medical exam, they will only be asked a few health questions to qualify for coverage.

 

 

 

My Health CHOICES

Group Critical Illness Insurance 

If your plan includes a Sun Life Financial Critical Illness benefit, members and their spouses can apply to maintain up to $100,000 of their Group Critical Illness Insurance coverage when they leave their group plan. They simply need to contact our Customer Solutions Centre within 31 days of the date their group coverage ends. 

 

Extended Health Care and Dental Insurance 

Plan members can also apply to transfer their health care and dental coverage to one of our comprehensive My Health CHOICE plans without having to provide proof of good health, if they contact Sun Life within 60 days of the date their group coverage ends.

 

My Savings CHOICES
If your current company retirement savings plan is also with Sun Life Financial, your plan members have the option of transferring to a new group savings plan, My Savings CHOICE. They can take advantage of low cost, investment continuity and choice, preservation of guaranteed fund interest rates and maturity dates. And, we offer the convenience of online and telephone enrolment and ongoing account access.

Supporting plan sponsor and plan member services

Plan Member Communications

We know the importance of helping plan members understand the options that are available to them during transition or uncertain times. Often this is a difficult time for employees, with important decisions to make about their benefits and/or savings plans. We can help, with communications that clearly explain to members the options we have available to them for their protection and financial planning.

 

We have attached a letter template for you to share with your employees. (Please feel free to modify it as you see fit.) In addition, we offer:

Customer Solutions Centre

This is a unique service for plan members leaving an organization. Members can speak with a licensed representative who can answer their questions about the options available to them. They can also apply for life, health and savings products right over the phone.

Financial planning solutions

At your discretion, plan members can arrange for financial consultation from a qualified professional at their convenience, to help them understand the benefit and investment options available to them.

 

Education seminars 

We offer group seminars delivered at your workplace to provide plan members with information that will help them gain an understanding of how all the components of their finances fit together. We offer a range of topics including options for transitioning employees, health and wealth protection, investment planning, managing your money, retirement planning and more.

 

 

 

Online resources

Our Plan Member Services website offers a wide range of services to help plan members with their benefits and financial planning. And at the end of March, we’ll also be launching a new section on our Sun Life website (www.sunlife.ca/todayseconomy) dedicated to providing Canadian consumers with the help they need during this challenging economic environment. The website will include tools, information and an ongoing moderated discussion forum. Whether employees are concerned about their savings, stressed about the recession or have recently experienced a job loss, the website will be a welcome resource.

We’re here to answer your questions

If you have questions about any of the products and services outlined above, please contact your Sun Life Financial group representative. And we encourage you to refer your plan members to www.sunlife.ca/todayseconomy so they can take advantage of the information and tools there to help your plan members.