Protection with the guarantees you need

Sun Permanent Life offers the guarantees you need for your life. This includes a guaranteed death benefit, guaranteed premium payment options and guaranteed cash values. You can have the peace of mind knowing you have protection when you need it most — now and in the future.

You should consider this product if:

  • You want simple protection with the option of having an increasing death benefit.
  • You're looking for premiums that are guaranteed for life, meaning they won’t change regardless of your age and health. Or you want the option to pay off your policy in 10, 15 or 20 years.
  • You want to create a financial foundation for your children or grandchildren. Or, you want to provide a gift to your favourite charity or alma mater.

Plan details:

Coverage options

  • Single life
  • Joint first-to-die, two lives, includes:
    • Survivor benefit and Automatic survivor benefit
  • Joint last-to-die premiums to second death, two lives
  • Joint last-to-die premiums to first death, two lives

Minimum amount

  • $250,000

Maximum amount

  • $10,000,000


  • Guaranteed premiums for life or until the policy is paid up
    • You can select from 4 premium payment options. Choose from 10, 15 or 20 years or to age 100 as your premium payment option.
  • Guaranteed cash value beginning as early as year 3
  • Guaranteed death benefit

Additional features

Policy loans are an easy way to access the cash value of your policy. You can request a policy loan at any time if there’s enough total cash value in your policy. A variable interest rate is charged on the amount you borrow.

You can repay your loan at any time without penalty.

What happens if you do not repay the policy loan? Then the outstanding loan balance will be deducted from your policy’s total death benefit. Policy loans may be subject to taxation.

What happens if the insured person is diagnosed with a terminal illness? Then the policy owner can apply to take a lump-sum advance equal to 50% of the death benefit, to a maximum of $250,000. This is a non-contractual benefit offered by Sun Life at our discretion.
What if the other insured person listed on your joint policy dies? As the surviving insured person, you may buy life insurance to replace the joint coverage without providing medical evidence of insurability. But you must do so within 90 days of the death of the first insured person.
The base coverage amount is paid out twice if both insured persons die together or within 90 days of each other.

Optional benefits

The guaranteed return of premium on death benefit offers an increasing death benefit. This means any premiums paid for the policy are included in the death benefit and are paid to the beneficiary tax-free on the death of the insured person.
This benefit lets you purchase additional protection to help cover a temporary need. You can also purchase this benefit to cover another person, such as a spouse, family member or business partner. You can renew this benefit and convert it to permanent insurance without providing additional medical evidence.
This benefit continues coverage if the insured person becomes totally disabled. You will not have to pay premiums for your insurance and any optional benefits.
With this benefit, if the policy owner dies, we’ll pay the premiums for the insurance and any optional benefits.
With this benefit, if the policy owner becomes totally disabled, we’ll pay the premiums for the insurance and any optional benefits.
This benefit combines the coverages provided by the Owner waiver death and Owner waiver disability benefits. When both benefits are purchased, a discount is applied to the benefit premium.
This provides an additional death benefit to the beneficiary if the insured person dies due to an accident.
Provides insurance protection for your children and future children until each child reaches age 25. Children insured under this benefit can purchase additional insurance without providing additional medical evidence.
This benefit allows an insured person to buy more life insurance in the future, without providing medical evidence of insurability.
This benefit was designed specifically for business owners. It allows the purchase of additional insurance for insured persons without providing medical evidence. Financial information about the business must be provided, including details about the fair market value of the business.

Sample policies

Read examples of text that can appear in a policy. Not all the provisions apply to every policy – they’re for your reference. When we issue a policy it governs the relationship between us and the Client. The policy can have provisions that are different from those that you've read here.

  Sun Permanent Life (one insured person)
  Sun Permanent Life (joint last-to-die - premiums to second death)

Additional features

  Sun Permanent Life - Optional benefits

Get permanent life insurance


Step 1
Find an advisor

An advisor can help you determine the right life insurance for your needs. Talk to your advisor or find one near you to help answer your questions – there is no cost to talk to an advisor.

Step 2
Meet with your advisor

To get the most out of the meeting with your advisor, take some time beforehand to think carefully about what you want to achieve. And because your advisor will need a lot of information to help recommend the policy that's right for you, get together some basic information about your income, assets and liabilities.

Step 3
Apply for coverage

Your advisor will handle the paperwork for you. You'll need to submit an application for a policy that will be evaluated by the insurance company. Depending on your age and the type and amount of coverage you want, you will need to answer a medical questionnaire. We may also ask you for additional medical or financial information.