Sun Life Insurance offers comprehensive products designed to meet diverse needs and financial goals. Whether seeking temporary coverage through term life insurance or lifelong protection with permanent policies, Sun Life provides flexible options that cater to various circumstances. Let us examine why you should buy sunlife insurance and how it works.
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SunLife Insurance is essential for ensuring financial security and peace of mind for you and your loved ones. Life insurance acts as a contract between you and the insurance company, guaranteeing that your beneficiaries receive a tax-free cash payment. Sun Life Insurance offers various options, ensuring you can find the right coverage to protect your family’s future.
Term Plans
Sun Life Insurance works by providing financial protection to your beneficiaries in the event of your death. When you purchase a SunLife Insurance policy, you agree to pay regular premiums for the policy duration. In return, Sun Life guarantees your beneficiaries will receive the death benefit if you pass away during the policy term, provided all policy requirements are met. The death benefit is paid tax-free and can be used by your beneficiaries to cover mortgage payments, education costs, and daily living expenses. The specific amount and type of coverage you choose will determine the exact terms of your policy and the benefits provided.
Buying Sun Life Insurance provides financial security and peace of mind, ensuring that your loved ones are cared for in the event of your passing. Here are some other ways in which buying a Sunlife insurance can benefit you:
Flexible Use of Death Benefit:
Your beneficiaries can use the tax-free death benefit to meet their financial needs, such as paying off debts, covering daily living expenses, or funding education costs.
Cash Value Option:
Certain SunLife Insurance policies offer a cash value component, allowing you to accumulate savings over time that you can borrow against or withdraw.
Lifelong Protection:
You can get lifelong protection with policies where your premiums never increase, ensuring consistent coverage without worrying about rising costs.
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Term life insurance plans provide temporary coverage for a specified term such as 10, 15, or 20 years.
These are initially more affordable, but premiums typically increase upon renewal after the term ends.
Some term plans offer the option to convert to permanent life insurance without undergoing a medical exam
These plans offer lifelong coverage that never expires, providing continuous protection.
Sunlife permanent life insurance Includes whole life, participating, and universal life insurance.
Whole Life Insurance: Provides guaranteed death benefits, fixed premiums, and potential cash value growth.
Participating Life Insurance: Offers potential dividends which can be used to reduce premiums or increase coverage.
Universal Life Insurance: Provides flexible premiums and death benefits, with a component that can accumulate cash value on a tax-deferred basis.
Some plans offer tax-preferred growth in cash value and options to increase the death benefit.
You can consult an advisor or use the online quote tool to get a Sun Life Insurance quote. For personalized assistance, find a Sun Life advisor by entering your postal code on their website, where you can discuss your needs and get tailored recommendations. Alternatively, if you prefer a quicker process, answer a few questions online to receive a quote for coverage up to $1,000,000. Both methods ensure you receive the guidance and information needed to make an informed decision about your life insurance options.
18% GST waiver on premiums along with 5% additional discount on annual mode
Premiums are much more affordable than international-term plans
Term plans provide global coverage with pre-approved cover
Tele/video medicals facilitate easy and quick purchase of term plans for NRIs
A special exit benefit allows you to exit the plan early and receive all the premiums paid back
NRIs living in Canada can easily buy term life insurance for NRIs from Indian insurers by simply following the below-mentioned steps:
Step 1: Visit the term life insurance for NRIs page of Policybazaar
Step 2: Provide your name, age, gender, and other contact information
Step 3: Select the correct occupation type, annual income, educational qualifications, and smoking habits
Step 4: Choose the term life insurance for NRIs and proceed to pay
†Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. This list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. For a complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website, www.irdai.gov.in
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