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Life insurance can protect the financial security of the people you love by giving them a tax-free payment after you die. The amount and type of coverage you choose will depend on your circumstances and needs. The cost of life insurance you buy as an individual depends on your age, gender, health, medical history and lifestyle.
Term life insurance | Permanent (whole) life insurance |
Participating whole life insurance |
Universal life insurance | |
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Issue ages |
0-75 years old |
0-85 years old |
0-85 years old |
0-85 years old |
Coverage amounts | $50,000 and up
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$50,000 and up
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$25,000 and up
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$25,000 and up
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Coverage amounts | $100,000 and up | $50,000 and up | $250,000 and up | $50,000 and up |
Payment options You choose the payment option or length of time that meets your needs. Term life insurance: Renewable term plans increase in cost after the first term ends, and renew for another term equal to the one you originally selected. 10, 15, 20, life pay and level for life: 10, 15 and 20 pay plans mean you only have to pay for your life insurance for 10, 15 or 20 years. If your payment type is life pay or level for life, you will continue to pay the premiums for your insurance until age 100 or your death. Yearly renewable term (YRT) to 70, YRT to 85 and YRT, 100: With YRT to 70, the cost of insurance increases each year to your age 70, at which time you will no longer have costs of insurance associated with the base insurance amount. With YRT to 85, the cost of insurance increases each year to your age 85, at which time you will no longer have costs of insurance associated with the base insurance amount. With YRT to 100, the cost of insurance increases each year to your age 70, at which time it becomes level for life. |
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Guaranteed premiums/costs | ||||
Payment flexibility | ||||
Coverage options Single life policies cover 1 person; joint policies cover 2 people. With a joint policy, you choose when we pay the death benefit. For example, the death benefit is paid when the second person dies on a joint last-to-die policy. |
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Cash values Cash value is money that builds in some policies over time. It may be guaranteed, non-guaranteed or a combination of both. | ||||
Cash value accessibility You may be able to access the cash value of your policy when you need it most. You can take a policy loan and depending on which plan you have, you may even be able to withdraw money from your policy. | N/A | |||
Lifetime coverage | No, expires at age 85 |
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Full details | More about term life insurance | More about permanent (whole) life insurance | More about participating whole life insurance | More about universal life insurance |
Will your loved ones be financially impacted if something happened to you?
If you answer yes, then you should think about how you can help protect them with life insurance.
While you may have basic life insurance through work, it may not be enough to meet your needs, and your coverage typically ends when you leave your job.
Life insurance can be a key part of your financial plan. Speak with an advisor to determine the right life insurance for your needs or get a quote online.
Want to apply for your life insurance online? You can, with Sun Life Go insurance. Be sure to read product details above before getting a quote online.
Not sure how much life insurance you need? Calculate your needs using the life insurance calculator.
Make well-informed decisions with helpful advice. Talk to your advisor or find one near you – there is no cost to talk to an advisor.
To find an advisor near you, enter your postal code:
Have questions? Let us help. Contact us
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