WELLESLEY HILLS, Mass. -- Sun Life Financial has announced the addition of a new single life policy to its portfolio of universal life insurance products.
Sun Universal Protector LP2 (SUP LP2), issued by Sun Life Assurance Company of Canada, features a death benefit that is guaranteed, regardless of changes in interest rates or insurance costs. As long as the premium amount is paid as planned, the policy will stay in force during the no lapse guarantee period. Sun Life Assurance Company of Canada is a member of the Sun Life Financial group of companies. For information on the portfolio of universal life products, visit www.sunlife-usa.com.
"After the stock market results of the last few years, more people are looking for guarantees," said Mark DeTora, Vice President, Individual Insurance Division. "They value the peace of mind that comes with knowing that the life insurance policy they purchased will pay out when the time comes."
The product also provides policy owners with an option to give an additional death benefit to a qualified charitable organization. The Charitable Giving Benefit Rider provides a benefit of 1% of the policy's face amount, over and above the base policy death benefit. The rider is available on SUP LP2 policies with a minimum face amount of $1 million.
"The Charitable Giving Benefit Rider has proven to be a very popular option for UL clients since it was introduced in 2002," said Len Scholl, Assistant Vice President, Individual & Small Business Markets. "It has become a point of differentiation in the marketplace among our brokers, and a thought-provoking additional benefit for clients with philanthropic tendencies."
Source: Sun Life Financial
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