Universal life for businesses
Life insurance can be used to address a variety of business needs—from enhancing executive benefits and protecting the business from the loss of a key employee to facilitating the transfer of the business to new owners.
At Sun Life Financial, we specialize in helping businesses integrate life insurance solutions into their overall business planning. One type of life insurance that can help address an array of business needs is universal life insurance.
What is universal life (UL) insurance?
Not only does UL insurance provide a death benefit, it allows you to build a cash value. So while the balance goes to paying the policy cash value where it earns interest set by the insurance company. UL insurance is also very flexible. Over time, you can vary the amount and/or timing of your payments as well as adjust the death benefit amount within certain limits.
How can it help me address my business needs?
Properly structured, universal life insurance can help you:
- fund buy-sell agreements for business continuation plans
- insure your business against the estimated financial loss resulting from the untimely death, disability or departure of a key employee
- provide greater retirement benefits for the business owner and select executives.
What distinguishes Sun Life’s UL options for businesses?
We offer UL options that have been specifically tailored to meet the needs of small to medium-sized businesses. These solutions include innovative features of most value to today’s business owners. Learn more about our Executive UL option
You’ll also want to make sure that your business’ obligations are backed by an insurance company with a long history of financial strength. Check out our Sun Life’s 140-year tradition of strength.
Universal life insurance is issued by Sun Life Assurance Company of Canada (Wellesley Hills, MA) and in New York, by Sun Life Insurance and Annuity Company of New York, (New York, NY). Both are members of the Sun Life Financial group of companies. All guarantees are based on the claims-paying ability of the issuing company.
NOT FDIC/NCUA INSURED. MAY LOSE VALUE. NO BANK/CREDIT UNION GUARANTEE. NOT A DEPOSIT. NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY.
SLPC 21087 (10/09) (Exp. 04/11)
