At a Glance
Sun Life Financial has been in business for over 150 years, making it one of the oldest financial institutions in Canada. The company, which started out selling life insurance, is on a mission to “help Canadians achieve financial security and live healthier lives.”
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Sun Life Health Insurance Review
Sun Life Canada Insurance offers short- and long-term medical and dental insurance group benefits designed to care for individuals and their dependents. It also provides critical illness coverage, disability insurance, and life insurance.
The company believes that a healthy workforce is a key to a company’s financial success, so its insurance products are designed to help businesses invest in their employees’ well-being. Sun Life’s group health benefits cover 1 in 6 Canadians and their families through employer-sponsored plans.
Sun Life Insurance is a well-known and respected company that offers a wide range of insurance products.
Sun Life is not accredited with the Better Business Bureau, but the BBB does give Sun Life a rating of A+. Ratings are based on complaints the BBB has received about the business, the company’s business practices, and licensing and government actions related to the business, among other factors. Sun Life has had 18 complaints with the BBB that have been closed in the past three years.
|Years in Business||155|
|Benefits and Claims Paid||$17 billion (2019)|
|Number of Clients||3 million Canadians and their families|
|Total Assets||1.1 trillion CAD|
|Insureye Consumer Rating||2.7/5 (based on reviews for life insurance)|
Sun Life Group Benefit Products
Sun Life offers customized group insurance plans that combine healthcare, disability, and prescription drug coverage. Their extended health care plans cover hospital care, prescription drugs, medical services and equipment, paramedical services, out-of-province emergency travel assistance, and vision care.
Sun Life coverage options also include group dental care plans that include preventive and diagnostic treatment, critical injury insurance, and long-term care coverage. Outside of personal and group health insurance plans, the company offers permanent and term life insurance and a range of investment services.
This insurer offers several tech-savvy touches with Sun Life Canada group benefits, such as e-claims that can be processed within 24-48 hours. Sun Life Insurance is also committed to streamlining payments with direct deposit, which means that members can receive electronic transfers instead of waiting for a check in the mail.
Sun Life Insurance FAQ
What is a group benefits plan?
A group benefits plan is a communal insurance product that many companies offer employees. An employer may offer extended health insurance, disability insurance, life insurance, or other forms of insurance.
What are group insurance benefits?
Group Insurance Benefits, such as Sun Life CA group benefits, are insurance plans that a company offers to its employees. Typically, group insurance benefits have lower premium costs than purchasing insurance individually.
What are group health benefits?
What are group life insurance benefits?
A group life insurance plan is similar to a group healthcare plan, except the policy is life insurance, which provides financing for a person’s family if the insured person dies.
Are group health benefits taxable in Canada?
If there is a formal arrangement between the employer and the employee, group health and dental insurance are tax-exempt in Canada.
What are group wage loss insurance benefits?
When employees get hurt and are unable to work, group wage loss insurance benefits help to cover expenses. Usually, the compensation is 2/3 of an employee’s pay, but low-income workers receive a higher compensation rate. This benefit continues through the duration of the injury and rehabilitation.
GroupEnroll.ca can help you save time and money when comparing Canada’s major group health insurance providers. Try it now!
Sun Life Contact Information
Primary Address: 227 King Street South Waterloo, PO Box 1601 Stn Waterloo, Waterloo, Ontario N2J 4C5, Canada
Important Contact Numbers:
- General Support: 1-877-SUN-LIFE (1-877-786-5433)
- Workplace Benefits: 1-800-361-6212
Learn More About Sun Life
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