Which SunTerm for which client

SunTerm gives your Clients more choice when it comes to meeting their short or long-term needs.

With one of the broadest ranges of term length options in the market, SunTerm gives your Clients the flexibility to adapt to their changing life insurance needs.

Helping Canadians achieve lifetime financial security is at the heart of everything you do! SunTerm may be one of the most important steps Clients take toward reaching their retirement goals. It’s never too soon to talk about what SunTerm can do today, to help Clients plan for tomorrow.

(Advisor use only)

Sun Term Length: Term 30
Issue Age: 18-50
  • Clients with longer term needs such as debt or mortgage repayment
  • First-time homebuyers with larger mortgage balances and longer amortization periods
  • Clients looking for a cost-effective insurance solution that minimizes premium outlay over 30 years
  • Young professionals who want to lock in future insurability at a low cost business owners who need to fund a buy-sell agreement
Sun Term Length: Term 20
Issue Age: 18-65
  • Clients with mortgages or debts expected to last longer than 10 years
  • Clients who are more than 10 years away from retirement
  • Parents who expect to have dependent children for more than 10 years
  • Clients who appreciate a stable payment for their temporary needs
  • Clients who don’t want to be re-underwritten after 10 years
  • Business owners looking to provide protection for a key employee
Sun Term Length: Term 15
Issue Age: 18-70
  • Clients looking to build a multiple coverage plan that includes different term lengths to satisfy a decreasing need
  • Pre-retirees who want to ensure their surviving spouse has sufficient assets when they retire
  • Clients who find the price of T20 or T30 too high
  • Business owners looking to provide protection for a key employee
Sun Term Length: Term 10
Issue Age: 18-75
  • Clients on a tight budget looking for the most insurance for the most affordable premium
  • Clients concerned about affordability today and not affordability in the future
  • Pre-retirees with small outstanding debt or remaining mortgage balance
  • Business owners who need short-term life insurance coverage as a loan requirement
  • Clients who intend to convert to permanent insurance and want to lock in their insurability
Sun Term Length: Term 10 – with renewal protection benefit
Issue Age: 18-65
  • Clients looking for protection from steeply increasing renewal premiums while maintaining affordability
  • Clients who want to preserve their medical insurability by maintaining coverage instead of re-underwriting
  • Clients who want greater flexibility at renewal and whose insurance need continues to be temporary
  • Clients who aren’t ready to make the financial commitment to permanent insurance

Client profile

Here are a few of the common groups that can benefit from SunTerm.

Young professionals
Family market Pre-retirees Business market
  • Ages 25-35
  • Have some disposable income
  • Beginning to establish protection and savings plans
  • Have lower insurance needs
  • Want the opportunity to lock in insurability at a low cost
  • Ages 30-50
  • Competing financial interests
  • High debt
  • Dependent children
  • Beginning to define short and long-term financial goals
  • Insurance needs are greatest
  • Planning for children’s education
  • Ages 45-65
  • Retirement asset accumulation begins
  • Peak savings/accumulation
  • Greater disposable income/peak earning years
  • Debt load beginning to decline
  • Starting to consider legacy planning
  • Ages 35-70
  • Sole-proprietor or partnership
  • Newly established or growing businesses
  • Concerned with business succession
  • Want to protect the value of a key employee

It’s important to meet with Clients regularly to review their coverage, and help them with any contractual conversions or renewals to ensure they have the protection that meets their needs.

Grow your business in the retirement market by helping Clients build for the future with SunTerm.

For more information about SunTerm, your business or your Clients, please contact us at 1-800-800-4SUN (4786).