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Groundbreaking insurance solution from Sun Life helps remove barriers for Canadians living with diabetes

T.SLF | May 13, 2024

The only life insurance product tailor-made with a higher chance of approval, affordable premiums, and personalized care every step of the way.

TORONTO, May 13, 2024 /CNW/ - Sun Life is proud to announce the launch of Sun Life Term Insurance for Diabetes - an industry-first product designed to empower Canadians living with diabetes to help make health and financial decisions on their terms. Sun Life understands the daily, unique challenges of managing this condition, and has created a comprehensive life insurance product that not only offers a higher chance of approval* and affordable premiums, but also access to a customized care plan. Sun Life Term Insurance for Diabetes is part of a broader suite of innovative term insurance offerings from Sun Life, including the newly launched Evolve Term Insurance.

"One third of Canadians are living with diabetes or pre-diabetesi and rates continue to rise quickly," said Rowena Chan, President, Sun Life Financial Distributors (Canada) Inc., and Senior Vice-President, Retail Advice & Solutions. "This is a powerful solution to help people take control of their lives and long-term wellbeing. In addition to providing valuable protection, Sun Life Term Insurance for Diabetes will help Clients focus on healthy living while accessing holistic advice and innovative insurance solutions to help achieve their financial and health goals."

Tailor-made for Canadians living with diabetes, Sun Life Term Insurance for Diabetes offers:

A higher chance of getting approved for term life insurance coverage.
Affordable premiums.
Access to Sun Life's Diabetes Care Program**, designed to help Clients manage their health goals. Clients will have access to an evidence-based program, including a personalized care plan, one-on-one support, access to virtual education sessions with healthcare professionals and diabetes-related resources.

Joining forces in the fight against diabetes

Sun Life has also partnered with Diabetes Canada to ensure all Canadians have the right information and education they need to better understand how to live with diabetes and promote an improved quality of life.

"One person every three minutes is diagnosed with diabetes in Canada," said Jennifer Buccino, Executive Director, Diabetes Knowledge & Connection, Diabetes Canada. "Everyone living with diabetes should have access to the care and treatments necessary to manage this complex chronic condition to ensure the best possible health outcomes. We are proud to partner with Sun Life on their journey to create positive health outcomes and in the fight against diabetes."

The evolution is here: Introducing coverage that keeps up with life's changes

Sun Life is also proud to announce the launch of Sun Life Evolve Term Insurance. This new and innovative protection product allows Clients to increase their coverage at certain life stages with a simplified underwriting process while offering affordable insurance to help meet their needs.

"We are committed to helping Clients achieve lifetime financial security, which is why Evolve Term Insurance was designed with Canadians in mind," said Michael Van Alphen, Vice-President, Insurance Solutions, Sun Life. "We know that insurance is not one-size-fits-all so we're making it easier than ever for Clients to increase their coverage to reflect evolving needs. Whether they're getting married, adopting a child, or increasing a mortgage, we're offering Clients a better solution, right when they need it most."

Sun Life has a long-standing focus on proactive and preventive health and wellness programs that help build stronger, healthier and more sustainable communities. To date, Sun Life has committed more than $50 million since 2012 to the fight against diabetes globally through strategic partnerships with organizations supporting the most vulnerable in our communities. Read more in our Sustainability Report.

Sun Life Term Insurance for Diabetes and the broader suite of term insurance offerings from Sun Life, including Evolve Term Insurance, will be available to all Canadians beginning today.

* Higher chance of approval compared to conventional life insurance.
**Diabetes Care Program not currently available in Quebec.

About Sun Life

Sun Life is a leading international financial services organization providing asset management, wealth, insurance and health solutions to individual and institutional Clients. Sun Life has operations in a number of markets worldwide, including Canada, the United States, the United Kingdom, Ireland, Hong Kong, the Philippines, Japan, Indonesia, India, China, Australia, Singapore, Vietnam, Malaysia and Bermuda. As of March 31, 2024, Sun Life had total assets under management of $1.47 trillion. For more information, please visit www.sunlife.com.