Life insurance is one of the most overlooked insurance products with over 30% of Americans not having it in the first place and much more who are underinsured. You, however, are thinking about your family all the time and decided it was time to secure a life insurance policy. There are many steps you must take to ensure that you have the right policy with the right company for the right amount. You heard of Sun Life Financial Insurance Company and are now wondering if this is a great choice. Well in short answer they are a good company but you need to know that there are many better alternative out there. For more information on what companies to compare to check out our comprehensive guide of Best Life Insurers in America. In this article, we will cover all the ins and outs of this big company so you can make an educated decision. For my fellow cliff notes fan here is a quick summary:
- 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 2017 Review
Sun Life has been helping protect people for over 150 years. The company has survived many economic shifts and is standing strong today. It is a company that has great values and really does focus on their clients well being first. 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 is the company’s rating so important?
Each company that operates in the U.S. gets rated by various large rating agencies like A.M. Best, Moody’s, S&P and few others. These ratings are updated every year and the agencies do quite a good job getting this done. In many instances, the rating from these agencies are pretty closely matched and if there is a huge difference you should dig deeper. Anyhow, the rating is probably the first and most important factor to consider when you’re looking for an insurance carrier. Simply, because it shows how much reserves the company keeps and how they manage them. A company with strong financial has strong claims paying ability which will give you a peace of mind knowing that if something happens to you your loved ones will get a big fat check.
Once you got the rating figured out you can then move on to everything else like their reviews, products, service and etc. So be sure to check out the rating by visiting the companies site or simply going to one of the agencies directly. Here is a list of some of the main ones with links to their site:
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.
Here is an overview of what they offer from Sunlife.com:
Work with us!
If you go with this company then you’re in good hands even though is not Allstate. However, we always recommend that you check all other options and cross reference them with the quote or plan you have been provided from Sun Life. Life insurance rates are fixed by the law so you don’t get any discount by using a local agent or going directly to the company. This is why an independent broker like ourselves is your best option. Here at InsureChance, we work with over 60 top rated insurers like:
-Prudential
-TransAmerica
-Banner Life
-SBLI
-Metlife
-Mutual of Omaha
-plus many others
Not only can you use our comparison tool to find out what the entire marketplace offer but you’ll also get our unmatched customer service. We will help you find the right plan, schedule your exam, meet any underwriting requirements and even draft a cover letter to help you get the best offer. At our company, you come first and everything else second. So feel free to browse and shop around until you’re ready to call us. You can request an application or simply dial 888.492.1967 to speak to our seasoned professionals with no sales gimmicks. Welcome to InsureChance!
