Toronto — The U.S. division of Sun Life Financial launched Sun Protector Variable Universal Life (VUL), a new life insurance product that offers clients a combination of protection, growth potential and guarantees.

Sun Protector VUL’s flexibility and value is underscored by a competitive, limited duration no-lapse guarantee on the base policy face amount. Beyond this, an optional “no lapse protection rider” provides guaranteed coverage for a lifetime, says the company.

Toronto-based Sun Life Financial, which offers a range of protection and wealth accumulation products and services to individuals and corporate customers, says its Sun Protector VUL marries the confidence of a guarantee to the growth opportunity provided by 44 investment options offered by leading money managers. This combination is a unique value in the market.

“Sun Protector VUL is designed to meet the needs of a growing number of consumers today,” says Michele Van Leer, SVP and GM, Individual Insurance division for Sun Life Assurance Company of Canada (U.S.). “Our clients want the long-term investment growth potential provided by equity markets, but also the guarantee that their insurance coverage will last through all market cycles. This product has been innovatively designed to do both for as long as clients need.”

As with other Sun Life Financial products, Sun Protector VUL offers clients two unique benefits: the Charitable Giving Benefit Rider, which at no additional cost allows the insured to leave a separate legacy to charitable causes that they support, and Assist America, which provides emergency travel assistance to insureds and their dependents, providing them with access to coordinated emergency medical care and case management services when traveling more than 100 miles from home anywhere in the world.

Source: Sun Life Financial

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