Buying life Insurance is already not the easiest task to do but it doesn’t become easier with all the options out there. Don’t worry because we are here to help you and to make life insurance simple! Sun Life Financial Insurance Company is one of the many life insurance companies in the marketplace. With so many choices it can be harder to know which company is going to be the best. Our mission is to make life insurance simple and to do that we make our reviews 100% unbiased and purely filled with information. With that being said, if you are looking for some solid information about Sun Life Financial Insurance Company then you have come to the right place. In this article, we will be discussing Sun Life Financial Insurance Company, as promised our review of them, and then we will discuss their products with highlights. The following are some key points from this article;
- Sun Life Financial Insurance Company was founded all the way back in the Victorian Era in the 1860’s.
- Just like every other big box life insurance company, Sun Life Financial Insurance Company also takes great pride in their community involvement.
- According to A.M Best, they have been rated an “A+” or superior. Standard & Poor’s also rated them an “AA-” or strong and Moody’s rated them an “Aa3” or high quality.
- Sun Life Insurance does not offer life insurance coverage without going through your employer. Sun Life offers life insurance coverage through your employer which also called group insurance.
Sun Life Financial Insurance Company’s History
Sun Life Financial Insurance Company was founded all the way back in the Victorian Era in the 1860’s. The company was founded in Montreal by a leading businessman and pillar of society, Mathew Hamilton Gault in 1865. In 1871 the company improved their conditions where they commenced their business as Sun Mutual Life Insurance Company of Montreal. In 1882, the company changed their name to Sun Life Assurance Company of Canada. During the first World War, many Sun Life employees contributed to the war effort and the company had among the largest subscribers to War Bonds. In 1919 Sun Life made themselves the first company in Canada to offer group life insurance and within a few years, they became an important provider of group benefit plans throughout Canada and the United States. During the Great Depression, the company’s assets began to rise again in 1936 as world economies began their recovery.
In 1962, Sun Life became a mutual company following a lengthy mutualization process and the buying back of their shares for $65 million in total. In 1982, the company acquired Massachusetts Financial Services, the Boston-based investment management company. In 1995 the company expanded to Asia and Sun Life entered the Indonesia market. The following year the company established Sun Life Financial International which offered high-net-worth clients around the world. By 2001, Sun Life Financial and Clarica Life Insurance Company announced their agreement to combine operations in a landmark transaction to create a powerhouse in the Canadian marketplace. In 2005 the company was featured on the inaugural list of the Global 100 Most Sustainable Corporations in the World. In 2010 they continued to build their brand around the world and acquire the naming right to Sun Life Stadium in Miami, Florida.
Sun Life Financial Insurance Company Gives Back
Just like every other big box life insurance company, Sun Life Financial Insurance Company also takes great pride in their community involvement. On their website they state that they are in the business of making brighter futures happen through their products, services, and through their commitment to giving back to the communities in which they live, work, and do business in. At Sun Life, their corporate giving is focused on the prevention of diabetes and its related complications. Their Team Up Against Diabetes grant program aims to provide programmatic support to charities that focus on Diabetes prevention, awareness, education, and care. The Company also support and encourage their employees’ to give with their employee-giving program. They are also committed to supporting local nonprofit organizations through volunteerism.
Sun Life Financial Insurance Company 2017 Review
Sun Life has been helping protect people for over 150 years. On their website, they state that through 21 presidents, two world wars, and countless economic dips, blips, and climbs, Sun Life Financial has stood strong and have been helping people protect what they love. According to A.M Best, they have been rated an “A+” or superior. Standard & Poor’s also rated them an “AA-“ or strong and Moody’s rated them an “Aa3” or high quality.
Why ratings matter.
Reading a company’s rating before deciding to purchase a product from them is important for you as a consumer to consider. A company is given a rating from rating agencies. These rating agencies have your very best in their mind because they want to make sure you as the consumer are getting all the information necessary and that’s why they inform you with a company’s rating. A company’s rating is another way of assessing their financial stability. Financial stability is very important to have as a company because if the company is not financially stable it may not even be around in a couple years. If a company receives a bad rating it means the company is not financially stable and again, may not be around for much longer or worse they may be around but when you need your policy to pay out you may not receive the money you have been paying to give to your family. If the company with a bad rating decides to no longer be in the market they can pull out or file bankruptcy which either way, will result in your policy getting lost in the wind and same goes for all the premiums you have paid. Long story short, if you have a couple minutes go to a review (a good one will provide you with the company’s rating) you can also visit the company’s website to see for yourself, or a rating agency’s website and search for the company on their search bar.
Sun Life Financial Insurance Company Product
Sun Life Insurance does not offer life insurance coverage without going through your employer. Sun Life offers life insurance coverage through your employer which also called group insurance. There are a couple of advantages to buying group life insurance through your employer. It may be convenient to buy a group life insurance policy and it may look like the prices are good but beware of a couple of cons of group life insurance. Convenience is key to those who know they need life insurance but haven’t bought it yet.
Keep in mind that when you buy life insurance through your job and you decide to leave your job you may have a hard time staying insured with the same group life insurance policy. If you get to keep your life insurance policy then you may have to be forced to pay higher premiums. Sometimes you would be better off just buying an individual life insurance policy because at least if you buy an individual policy you don’t have to worry about not being insured when you decide to change jobs. You can choose from two different types of life insurance, either life insurance for a short period of time called term life insurance, or permanent life insurance so you don’t have to worry about life insurance for your entire life.
Work with us!
If you are looking for coverage you should make sure you buy coverage from the best life insurance company! Whether you decide to work with Sun Life Financial Insurance Company or not, we still recommend for everyone to shop around for quotes because this way you can guarantee you are getting the best rate possible. It can get hard trying to find the best life insurance company because there are just so many companies out there but don’t let any of them fool you, the best life insurance company for you should reflect your specific needs, health, and lifestyle. What one considers the best life insurance company may not be the same for you because not everyone has the same needs, health, and lifestyle as you do. That’s why you should consider working with us, we are an independent life insurance agency who work with over 60 top rated companies and have absolutely zero ties with any of them because our loyalty is reserved for our clients and our clients only. We will shop for quotes until our fingers fall off because we want to make sure you are getting the lowest premium with the highest death benefit humanly possible. Not only will we not give up until we find you your best life insurance company but we will also fill out the application necessary for you to receive coverage. Did we mention our services are FREE? Because they are super duper FREE! Give us a call today so you can stop your worrying and then you can have more time with those who matter the most, your family.
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