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News

August 26, 2021

Lower rates for SunTerm

This October, we’re lowering rates for SunTerm at coverage amounts of $2M and up – and Clients can take advantage of them right now. SunTerm will have some of the best pricing in the industry and be a leading choice for business owners and affluent Clients.

See the new rates in LifeGuide and request a special quote to offer them to Clients starting today. You’ll be able to find the rates in Sun Life Illustrations and Sun eApp in October.

Take advantage of the new rates now

Clients can apply for the new rates now with a quote. To get a quote, contact your Regional Sales Director or reach out to an Insurance Sales Representative through salesdesk@sunlife.com. We’ll prepare the illustration and eligible Clients can take advantage of the rates right away.

Special quotes are for base plans only

These new rates will apply to base plans as well as the term insurance optional benefits on other plans. Advance quotes are currently available for base plans only. You’ll be able to illustrate term insurance optional benefits on other plans when the new rates take effect in October.

Visit the Advisor site to learn more about SunTerm and its great optional benefits.

Transition Rules

To ensure a smooth transition to the new rates, please take a moment to review the following rules:

Scenario	Rate applied for	Client wants	Rules
Application is settled before August 26 and is outside of the 10-day free look period	Old rates	New rates	The policy will receive old rates. A replacement application and a special quote are required for new rates to apply.
Application is settled before or during the pre-quote period (August 26 – end of October) and within the 10-day free look period	Old rates	New rates	Clients can have the new rates when a special quote is received by New Business. The policy will be reissued.
Application is settled during the pre-quote period (August 26 – end of October) and is outside of the 10-day free look period	Old rates	New rates	The policy will receive old rates. A replacement application and a special quote are required for new rates to apply.
Application is signed and received during the pre-quote period (August 26 – end of October)	Old rates	New rates	Clients can have new rates when a special quote is received by New Business.
Application is signed and received before August 26 and is not yet mailed	Old rates	New rates	Clients can have new rates when a special quote is received by New Business.