Published : May 13, 2024

What is Evolve Term and what does it offer?

Evolve is one of our term life insurance products. It offers flexible insurance coverage for a set amount of time. The amount of coverage you may qualify for is available in amounts between $50,000 to $25 million, for terms of 5 to 40 years. You may also be able to increase your coverage based on specific life events.

With Evolve, your premiums (monthly or annual costs) are guaranteed until your term ends.

What if you qualify to increase your coverage due to a life event during your term? Then your premiums will increase and are guaranteed until the end of your term. When your  term ends, your coverage will automatically renew at an increased cost. But keep in mind, your insurance coverage ends when you reach age 85.

You can continue to renew your term at an increased cost, or you can benefit from lifelong protection by converting your term policy into a permanent life insurance policy with a new premium. The option to convert is available until you reach age 75.

Benefits of Evolve Term

  • Option to increase your coverage at certain life stages.
  • Option to convert to a longer term length.
  • Guaranteed conversion to permanent insurance regardless of your health.  
  • Get coverage for multiple financial needs – business, family, mortgage, etc. –  with multiple term lengths.

Apply for an increase to your coverage at these life events


A spouse or common-law partner.

New child

A birth of a newborn or an adoption.

Increase to income

If you have a 20% increase to your gross income.

New mortgage or refinance

If you have a new or a larger mortgage.

This is available if the insured person is age 18 to 60, in which case, you can apply for a coverage increase after the first year of your policy. You’ll be asked some health questions when you request an increase to your coverage. You can increase your policy by 50% of your current coverage  amount up to $1 million, subject to the terms of your policy contract.

In most cases, the owner and the insured person of a policy are the same. But, in some cases, they may be different. To get a coverage increase, the insured person must experience one of these life events.

Connect with an advisor to learn more and apply

Plan details


is the minimum amount of coverage you can get.

$25 million

is the maximum amount of coverage you can get.

Terms available:

Get anywhere from 5-year to 40-year renewable terms, depending on your age.

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 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


Maximum amount


Terms available

5 to 40 year renewal terms are available, depending on the insured person's age

Living benefit

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 at our discretion.

Survivor benefit on joint first-to-die policies

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.

Automatic survivor benefit on joint first-to-die

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

Optional benefits

Child term insurance benefit (CTB)

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.

Total disability waiver benefit

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.

Guaranteed insurability benefit (GIB)

This benefit allows an insured person to buy more life insurance in the future, without providing medical evidence of insurability.

Accidental death benefit (ADB)

Provides an additional death benefit to the beneficiary if the insured person dies due to an accident.

Owner waiver disability benefit

With this benefit, if the policy owner becomes totally disabled, we will pay the premiums for the insurance and any optional benefits.

Business value protection benefit

Gives you the opportunity to increase insurance coverage for your business as it grows in value over time. With the Business value protection benefit, the policy owner can purchase additional insurance coverage based on the increased value of the business without providing medical evidence.

Connect with an advisor to get a customized life insurance quote.

An advisor can also answer any questions you have and help you set up an insurance plan that meets all your needs.

Frequently Asked Questions

Is Evolve Term Life Insurance right for you?

Along with the key benefits of Evolve Term, you may consider this product if you:

  • need affordable, low-cost life insurance,
  • have income replacement or mortgage and debt protection needs,
  • want to take care of non-permanent insurance needs while staying within a budget,
  • want the option to convert to lifetime protection (permanent insurance) if your needs change,
  • are a business owner who’s concerned with the succession of your company or are looking to protect the value of a key employee, or
  • want the flexibility to increase your insurance amount at key life stages.

Can I change my term length when I renew my Evolve policy?

No, your policy renews at your existing term length up to age 85. However, you may be able to change your term length within the first seven years of your policy.

Connect with an advisor for more detailed information

How is Evolve different from our other term products?

Unlike our other term products, Evolve gives you:

  • a broader choice of term lengths,
  • the chance to customize your plan with optional benefits,
  • the option to apply to increase your coverage at certain life stages, and
  • the option to convert to permanent life insurance at any time before age 75.

What happens if I don’t die by the end of my term?

You won’t receive anything back if you outlive your policy, but term still offers you the comfort of knowing your beneficiaries are financially protected while your policy is active.

Convert your policy to permanent insurance

Can I make changes to my policy coverage?

You can easily increase your coverage after one year , provided the insured person has one of these life events. The insured person will have to answer some health questions when you apply for a coverage increase.

You also have the option to decrease your coverage at anytime.

To make changes to your coverage, please connect with your advisor.

When does my term policy expire?

Your policy automatically renews after every term up to age 85 – that’s when it will expire.

An advisor can help you select the right insurance products and help you set up a plan that meets all your needs.

They can also answer any questions you have.

Looking to submit a claim?

Get step-by-step instructions on how to submit an insurance claim.

Register for my Sun Life

Already have a Sun Life product? Set up your online account by registering for my Sun Life.​