Substantial protection with flexible options

SunTerm Life Insurance coverage is available in amounts of $250,000 to $15 million for terms of 10, 15, 20 or 30 years. Premiums are guaranteed and the policy is renewable until the policy anniversary nearest age 85 or may be converted to permanent insurance (whole life insurance) until the policy anniversary nearest age 75.

You should consider this product if:

  • You want affordable, temporary protection that comes with guaranteed premiums
  • You are looking to help provide future financial security for your family or beneficiaries
  • You have income replacement or mortgage and debt protection needs
  • You want to take care of non-permanent insurance needs while staying within a comfortable budget
  • You want the comfort of knowing your insurance policy gives you the option to provide lifetime protection if your needs change
  • You are a business owner who is concerned with the succession of your company or are looking to protect the value of a key employee

Plan details:

Guaranteed premiums 

Your premiums automatically renew (at guaranteed rates) at the end of your term.

Guaranteed conversion

Guaranteed conversion to permanent insurance at any time regardless of the insured person's health, occupation or lifestyle until the policy anniversary nearest the insured person's 75th birthday.

Guaranteed death benefit

Death benefit is guaranteed not to change for the term you choose.


Policy is renewable until the policy anniversary date nearest the insured person's 85th birthday.

Minimum amount

  • $250,000

Maximum amount

  • $15,000,000

Terms available

  • 10, 15, 20 or 30 year renewal terms are available, depending on the insured person's age

Additional benefits

If the insured person is diagnosed with a terminal illness, you may be eligible to take a lump sum advance equal to 50% of the death benefit, to a maximum of $100,000. This is a non-contractual benefit offered by Sun Life Financial at our discretion.
This protects the surviving insured person – allowing them to purchase a new insurance policy within 31 days of the first death, regardless of their health, lifestyle or occupation.
If both insured persons die at the same time, or within 31 days of each other, the death benefit will be paid twice.

Optional benefits

You can buy $10,000-$30,000 of life insurance on each of your children (including legally adopted children) who are age 18 and under.

  • Once you choose this insurance, any other children you may have in the future are automatically insured, and your premium for this benefit doesn't increase.
  • Children are insured under this benefit from the date they are 15 days old until their 25th birthday.
  • The insurance on each child ends at the policy anniversary nearest the insured persons 70th birthday.
  • Premiums are payable for a maximum of 20 years, regardless of how long coverage is in force.
  • With a built-in conversion option, you can buy up to 10 times more insurance on your children between their ages of 18 and 25, regardless of their future health, occupation or lifestyle.
  • This benefit allows for the purchase of new life insurance to the maximum of $300,000.
The total disability waiver benefit waives premium payments and maintains the insurance if the insured person becomes totally disabled.
This benefit allows you to purchase more life insurance at specified times until the insured person's 45th birthday, regardless of their future health, occupation or lifestyle.
If you choose this benefit, an additional death benefit will be paid to the beneficiaries if the insured person dies as a result of an accident.
This benefit allows policy owners to pay an additional premium today to have a lower renewal premium in the future compared to a SunSpectrum Term 10 plan without this benefit.
The disability waiver benefit waives premium payments and maintains the insurance if the insured person becomes totally disabled.
This optional benefit was designed for business partners and provides guaranteed insurability if 1 of their insured business partners dies. The benefit allows the policy owner to purchase additional life insurance on each surviving business partner after the death of the first insured person, without providing medical evidence.
This benefit was designed specifically for business owners and allows the purchase of additional insurance for insured persons without providing evidence. Financial information about the business must be provided that includes 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 – it is 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.

 SunTerm life insurance (one insured person)
 SunTerm life insurance (joint first-to-die)