Variable universal life for businesses
At Sun Life Financial, we specialize in helping businesses integrate life insurance solutions into their overall business planning. One effective way to meet a wide array of needs is variable universal life—which combines insurance protection with investment opportunities.
What is variable universal life (VUL) insurance?
Not only does VUL insurance provide a death benefit, it allows you to build a cash value. So while a portion of your premium goes to paying for the insurance protection, you direct how the balance is going to be invested across an array of professionally managed investment options. Your cash value then is effected by the performance of the options you choose.
VUL 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, variable 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 VUL options for businesses?
We offer VUL 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 VUL 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.
Clients should consider the investment objectives, risks, charges, and expenses of any investment carefully. Please obtain the prospectus for both the variable universal life insurance policy and the investment sub-accounts, which contain detailed information about investment objectives, risks, fees, charges, and expenses. Please read the prospectus carefully before you invest. Variable universal life insurance products are long-term contracts and are sold by prospectus; they are unsuitable as a short-term savings vehicle. The primary purpose of variable universal life insurance is to provide lifetime protection against economic loss due to the death of the insured person. Cash values are not guaranteed if the client is invested in the investment accounts. There are risks associated with each investment option and the policy may lose value. Variable universal life insurance is issued by Sun Life Assurance Company of Canada (U.S.) (Wellesley Hills, MA) and, in New York, by Sun Life Insurance and Annuity Company of New York (New York, NY), and is distributed through Sun Life Financial Distributors, Inc. All guarantees are based on the claims-paying ability of the issuing company. All are members of the Sun Life Financial group of companies. Variable Universal Life Insurance products are for persons, who have a long-term need for life insurance. Variable insurance products are not insured by the FDIC or other government agency and are not deposits or other obligations of, or guaranteed by, any financial institutions. Unit values are subject to investment risk, including possible loss of the principal amount invested, and will fluctuate in value. You may receive more or less than you paid when you access your values. Variable universal life insurance has annual fees and expenses associated with it in addition to life insurance related charges (which differ with the product chosen) including underlying investment charges. Certain charges apply to all products, such as: Premium Expense Charges, Transfer Fees, Cost of Insurance (COI) Charges, Mortality & Expense (M&E) Charges, Loan Interest Payments and Flat Extra Charges. Surrender charges may also apply. Additional charges may apply to any optional riders, including: Waiver of Monthly Deductions Rider, Payment of Stipulated Amount Rider and Supplemental Insurance Rider.
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)
