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Longevity insurance

How does longevity insurance work?

In exchange for monthly premiums, Sun Life makes monthly pension payments into the plan for the lifetime of the covered pensioners. The monthly premiums are determined at contract inception and are locked in. Even if pensioners live longer than expected, Sun Life’s monthly payments will cover the difference.

What are advantages of longevity insurance for plan sponsors?

  • Reduced pension volatility
  • Longevity risk protection
  • Retain control of investments
  • Benefit security
  • Flexibility

Longevity Facts

In 2015, BCE and Sun Life completed the first North America longevity insurance deal, covering $5 billion.