Sun Long Term Care Insurance helps you manage the risk of losing your independence due to an unexpected illness, chronic condition or dementia by transferring the risk to long term care insurance. It provides a comprehensive income-style benefit when you’re dependent. It’s designed to help cover the cost of care services you need in any environment, including:
There are 3 ways to qualify to receive the long term care insurance benefit. Benefits are paid if you reside in Canada or the United States. You may travel outside these countries for a maximum of 8 weeks at a time and continue to receive benefits.
In order to qualify for benefits, you must require:
You’re considered to have deteriorated mental ability if you need continual supervision by another person for protection from threats to your physical health and safety as the result of deterioration in or a loss of:
Deteriorated mental ability must result from an organic brain disorder such as Alzheimer’s disease, irreversible dementia, or brain injury.
The activities of daily living are defined as follows:
What is an assistive device?
Assistive devices are aids that can be used to improve your functioning. If using an assistive device allows you to perform an activity of daily living safely and completely, you’re not dependent for that activity. Assistive devices include: adjustable beds, buttonhooks, canes, crutches, grab bars, handheld showerheads, bath brushes, seat lifts, transfer benches, walkers and wheelchairs.
Stand-by assistance means another person must always be within arm’s reach so you can safely and completely perform the activities of bathing and transferring.
If you require stand-by assistance for only one of bathing or transferring, we consider you dependent when you also require substantial physical assistance to perform one of the other activities of daily living.
You must be between the age of 21 and 80 years old to consider this plan.
The benefit period is the maximum number of weeks you can receive benefits. Choose among:
The waiting period is the length of time you must be continuously dependent before a claim is submitted. It starts on the date you are first considered dependent. Choose between:
The following features are included at no extra cost:
Regardless of the waiting period selected, a claim may be submitted 30 days after you:
When we approve a claim for benefits, we waive premiums for the policy.
If both spouses are covered under policies that include Spousal waiver, premiums will be waived if one spouse dies or if we’re paying benefits on either spouse’s policy (even after we’ve paid benefits for the entire benefit period on the spouse’s policy).
To qualify for the benefit, each spouse must have a policy that has been continuously in effect with no approved claim, from the dates they came into effect until:
If a premium payment is missed, this protection may automatically continue coverage for a fixed period. The length of time the coverage continues is set out in the extended term insurance schedule in the policy. The weekly amount, waiting period and benefit period will not change. While the policy continues as extended term insurance:
The following service is included at no extra cost:
With a long term care insurance policy from Sun Life Financial, you can make use of the valuable resources provided through LifestageCare.™ This national, bilingual service available 24 hours a day, 7 days a week, provides you with access to unbiased information about local, qualified healthcare and personal care providers that meets your individual and family care needs, at every stage of life.1
1LifestageCare is currently available to new and existing long term care insurance policy owners of Sun Life Financial. It’s not a guaranteed feature of the product and may be withdrawn at any time.
™ LifestageCare is a trademark of Sykes Assistance Services Corporation.
These benefits can be added to enhance your plan at an additional cost:
There are 2 options to protect the weekly benefit against inflation:
If you die while the policy is in effect, we’ll pay the returnable premium amount to the beneficiary named in writing. If no beneficiary is named, the returnable premium amount will be paid to the policy owner, or to their estate. This option is available for issue ages 21-65.
Choose one of the following payment periods:
Premiums won’t change for the first 5 years from the policy issue date. After that, we may increase or decrease the premium on a policy anniversary. If we do make a change, we’ll give advance notice of the change. The new premium will be guaranteed for at least another 5 policy years.
As you read through these sample policies, please keep in mind that not all sections you see will apply to every policy. Your policy can have sections that are somewhat different from those that you've read here, depending on the options you choose. When we issue your policy, it governs the legal relationship between you and Sun Life Financial.