SunSpectrum Permanent Life II Insurance

Simple lifelong coverage

SunSpectrum Permanent Life II insurance provides simple, straightforward coverage that lasts a lifetime. It provides a guaranteed death benefit, guaranteed cash values and guaranteed premiums to help give you peace of mind.

Getting Started

Life insurance calculator

What is permanent life insurance? (Video)

5 financial products you should own

Find an advisor

You should consider this product if:

  • You want guaranteed protection for life, but aren’t interested in actively managing your coverage.
  • You're nearing retirement and are looking for an alternative to group insurance or term insurance due to increasing costs.
  • You're looking for affordable premiums and guaranteed lifetime protection.

Support questions

Related resources

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

  • $25,000 for ages 0-64
  • $10,000 for age 65-85

$25,000 for all ages

Maximum amount

  • $10 million


  • 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 for life

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 is 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. If you do not repay the policy loan, the outstanding loan balance will be deducted from the total death benefit of your policy. Policy loans may be subject to taxation.

This benefit is offered on Sun Life Assurance Company of Canada life insurance products and is a non-contractual arrangement that we may approve at our discretion on a case-by-case basis. If an insured person is diagnosed with a terminal illness, an application can be made by the policy owner for a lump sum advance of 50% of the insurance amount, to a maximum of $100,000. The lump sum, plus interest, is deducted from the death benefit when paid. This benefit follows the rules of the living benefit program in effect when the policy owner applies to receive the benefit.

Within 90 days of the death of the first insured person, the surviving insured person may buy life insurance to replace the joint coverage without providing medical evidence of insurability.

The base coverage amount is paid out twice if both insured persons die together or within 90 days of each other.

Optional benefits

This benefit lets you purchase additional protection to 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.

The guaranteed return of premium on death benefit offers an increasing death benefit. Any premiums paid for the policy are included in the death benefit and paid to the beneficiary tax free on the death of the insured person.

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 will pay the premiums for the insurance and any optional benefits.

With this benefit, if the policy owner becomes totally disabled, we will 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. .

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. Your children insured under this benefit will be able to purchase additional insurance without providing additional medical information.

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 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.

SunSpectrum Permanent Life II (one insured person)

SunSpectrum Permanent Life II (joint first-to-die) 

SunSpectrum Permanent Life II (joint last-to-die - premiums to second death)

SunSpectrum Permanent Life II (joint last-to-die - premiums to first death)

Additional features

SunSpectrum Permanent Life II - 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 additional 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.