Get a Life Insurance Quote for Sun Life
Flexible and affordable coverage for your family
Get your personalized Sun Life quote
Answer a few quick questions so we can match you with the right coverage
Get a Life Insurance Quote for Sun Life
Flexible and affordable coverage for your family
Get your personalized Sun Life quote
Answer a few quick questions so we can match you with the right coverage
About the Sun Life life insurance company in Canada
Sun Life Assurance Company of Canada has been providing life insurance in Canada since 1865, making it one of the country's longest-standing insurers. As of December 2025, the company carries an A+ rating from AM Best, with roughly $173.2 billion in total assets and a 140% LICAT solvency ratio.
Sun Life offers a broad range of life insurance plans. Sun Life Evolve Term lets you choose a specific term length from 5 to 40 years, with coverage up to $25 million. For permanent protection, SunSpectrum Permanent Life II is a permanent life insurance plan that builds guaranteed cash value and comes with a guaranteed death benefit and premiums.
Through PolicyAdvisor, our licensed advisors can help you compare these Sun Life plans and find the right coverage, at no cost.
Compare Sun Life plans with PolicyAdvisor
Sun Life offers coverage for every stage of life, from affordable term protection to permanent plans built to last a lifetime.
Sun Life Evolve Term Life Insurance
Flexible coverage in the exact term length you need.
Key features
- Coverage from $50,000 up to $25 million
- Flexible term lengths from 5 to 40 years
- Flexible coverage that can grow with you at key life events
A good fit if you:
- Want affordable, flexible coverage for a specific period aligning with major life stages, like paying off a mortgage
- Like the option to convert to permanent coverage later as your needs evolve
SunSpectrum Permanent Life II
Lifetime protection with guaranteed values, built to last.
Key features
- Coverage from $25,000 (or $10,000 if you're 65 or older) up to $10,000,000
- Choose from four guaranteed premium payment options: Life Pay, 10 Pay, 15 Pay, or 20 Pay
- Guaranteed death benefit and guaranteed cash values starting in year 3
A good fit if you:
- Want guaranteed lifelong coverage without ongoing management
- Like the option to pay off your premiums in as little as 10 years
- Are planning for retirement, estate protection, or long-term certainty
Both plans can also be customized with optional riders to help tailor your coverage to fit your needs. A Child Term Benefit can add $10,000 to $30,000 of coverage for each of your children until they turn 25, an Accidental Death Benefit can add up to $1,000,000 if your death results from an accident, and a Total Disability Waiver keeps your policy in force by covering your premiums if you become totally disabled. Business owners can also add a Business Value Protection Benefit, which lets you increase coverage by $250,000 to $2,500,000 as your business grows, without new medical evidence. A licensed PolicyAdvisor advisor can help you explore which riders make sense for your situation.
How Sun Life Evolve Term adapts to you
A few of the ways this policy can be shaped around your specific situation.
Key features of Sun Life term insurance
Sun Life offers permanent, lifelong coverage too, but most families begin with term insurance because it is affordable and easy to shape around your budget. Here is what sets Sun Life's term policies apart.
Level premiums
Your premium amount stays the same for the duration of your chosen term.
Flexible terms
Choose a specific term length from 5 to 40 years to fit your needs, instead of a fixed 10, 20, or 30 year block.
High coverage limits
Coverage can range from lower amounts to several million dollars, depending on eligibility and underwriting.
Convertible
Switch to permanent life insurance until age 75 with Sun Life's evolve term plan.
Multiple Life Coverage
Insure up to 5 people under a single policy, combining individual and joint coverage instead of buying separate policies for each person.
Living benefit
Some plans offer early benefit access if diagnosed with a qualifying terminal illness or similar condition, depending on the policy.
Renewable coverage
Your coverage renews automatically at the end of each term, without a new medical exam, until around age 85.
Guaranteed insurability benefit
Purchase additional coverage every 3 years, or after life events like marriage or the birth of a child, without answering any health questions.
Digital & advisor-assisted
Apply online with a licensed advisor.
Get your personalized quote in minutes.
Compare tailored Sun Life quotes and explore coverage options designed to fit your lifestyle, with expert advice from PolicyAdvisor at no cost.
Cost of Sun Life term insurance in Canada
A number of factors shape your life insurance premium, including your age, gender, coverage amount, term length, and overall health, but term coverage is often more affordable than most people expect.
With flexible, budget-friendly options, Sun Life makes it straightforward to protect your family's financial future. Take a look at these sample rates for Sun Life Evolve Term.
The exact premium you pay will depend on the coverage and term you choose. A licensed Sun Life advisor can help match you with the right coverage for your needs and budget, at no cost to you.
Illustrative rates only. Based on $500,000 Term 10 coverage for non-smoker in regular health. Actual premiums vary. Contact an advisor for a personalized quote.
Why get your Sun Life quote through PolicyAdvisor?
- No-cost, no-obligation advice
A licensed advisor looks at your situation, walks you through your Sun Life options, and helps with the application itself, all with no fee and no obligation to buy. - On your side, not the insurer's
PolicyAdvisor is an independent brokerage. We compare Sun Life against other leading Canadian insurers and let you see exactly how it stacks up before you decide. - Everything handled online
Request a Sun Life quote, ask questions, and finish your application from home, whenever it suits you, without a branch visit or paperwork to mail in. - Ongoing support after you buy
Once your policy is in place, your advisor remains available, whether your needs change down the road or you eventually need a hand with a claim.
Get your personalized quote in minutes.
Compare tailored Sun Life quotes and explore coverage options designed to fit your lifestyle, with expert advice from PolicyAdvisor at no cost.
FAQs
Everything you need to know about Sun Life life insurance.
Life insurance is a contract between you and an insurer. You pay a regular premium, and in return the insurer pays a tax-free lump sum, called the death benefit, to the people you name as beneficiaries if you pass away while the policy is in force. Your family can use that money for anything they need, such as covering everyday living costs, paying off a mortgage or other debts, replacing lost income, or funding future goals like a child's education.
Sun Life is backed by over 160 years of experience helping Canadians protect their families' financial future. It offers Sun Life Evolve Term Life Insurance for affordable, flexible coverage and SunSpectrum Permanent Life II for lifelong protection with guaranteed values, and its death benefit is generally paid out tax-free. Through PolicyAdvisor, you get a licensed advisor who helps you compare Sun Life plans and choose the right coverage, with expert advice at no cost.
Sun Life Evolve Term is temporary coverage for a set period, from 5 to 40 years, built for a specific need like a mortgage or your working years, with coverage from $50,000 to $25 million. SunSpectrum Permanent Life II is lifelong coverage with a guaranteed death benefit, cash values, and premiums, with coverage amounts from $25,000 to $10,000,000, designed for estate planning or long-term certainty rather than a fixed time period.
Yes. Sun Life Evolve Term includes a guaranteed conversion privilege, letting you switch some or all of your coverage to an eligible permanent policy any time before your 75th birthday without answering any health questions, even if your health has changed since you first applied. A licensed advisor can walk you through which permanent plans your coverage qualifies for.
Both Sun Life Evolve Term and SunSpectrum Permanent Life II can be customized with optional riders, including a Child Term Benefit for your kids, an Accidental Death Benefit, a Total Disability Waiver that covers your premiums if you become totally disabled, and a Business Value Protection Benefit for business owners. Other optional riders may also be available, and the exact lineup can vary between the term and whole life plans, so it is worth discussing your options with a licensed advisor.
Yes. With Sun Life Evolve Term, you can increase your coverage by up to 50%, to a maximum of an extra $1 million, after life events like marriage, a new child, or a bigger mortgage, by answering a simplified health questionnaire instead of taking a full medical exam.
Your coverage renews automatically each term without a new medical exam, up to around age 85, though your premium increases at each renewal. You can also convert to permanent coverage before age 75 instead of renewing.