Variable life
Make contract changes
How Do I…
Q. Find out what signatures are required to authorize changes to my policy?
A. If your policy is owned by… Here’s the signature(s) you’ll need:
| An individual | the policy owner(s) |
| A corporation | signature and titles of a) two officers OR b) one officer and the corporate seal |
| A trust | the signature of the designated trustee(s), signing with the word “trustee” after their name |
| An estate | the court appointed representative, including certified copies of documents |
Q. Change the name, phone number or address on my policy?
A. Call or complete the Name, Address & Email Change Request form including policy number(s).
Q. Change my beneficiary?
A. Complete the Change of Beneficiary form, listing the policy number(s). We encourage you to designate a contingent beneficiary in the event the primary beneficiary dies before the insured. If none is designated, the contingent beneficiary will default to the estate of the insured.
Q. Change the owner on my policy?
A. Complete the Change of Owner form. If designating a trust, please complete the Verification of Trust form as well. We encourage you to designate a contingent owner if the primary owner is not the insured. If none is designated and the primary owner dies before the insured, the ownership will default to the estate of the primary owner.
Q. Change the trustee on my trust?
A. Complete the Verification of Trust form.
Q. Collaterally assign my policy?
A. Complete the Collateral Policy form or complete the American Banking Association Collateral Assignment Form available at most financial lending institutions.
Q. Remove a collateral assignment from my policy?
A. Complete the Release of Assignment form and have the assignee complete it, including the policy number(s).
Q. Add a power of attorney to my policy?
A. Send a copy of the Power of Attorney document and include the policy number(s).
Q. Increase the face amount on my policy? (interest sensitive policies only)
A. Call or complete the Contractual Policy Change Request form including the policy number(s), to determine if your policy is eligible and what we require to make such an increase.
Filing a claim
How Do I…
Q. File a death claim?
A. Call or send your request to obtain the necessary forms. To expedite your claim, include:
- name of the deceased, and the dates of birth and death
- policy number(s)
- cause of death (natural or accidental)
- funeral home name, address and phone number; and
- beneficiary's name, address and phone number
Q. File a waiver of monthly deductions claim?
A. Call or send your request to obtain the necessary forms. To expedite your claim, include:
- name of the insured and policy owner (if different)
- policy number(s); and
- address confirmation for mailing the necessary forms
A Sun Life Financial representative will return your call within 24 hours.
Q. File a payment of Stipulated Amount claim?
A. Call or send your request to obtain the Claim Forms; Include:
- name of the insured and policy owner (if different)
- policy number(s)
- the date the disability commenced and the cause of disability; and
- address confirmation for mailing the necessary forms.
Q. Find out what is the accelerated death benefit provision?
A. It allows the policy owner to access a portion of the face amount in advance in the event that the insured becomes terminally ill.
Q. Request an accelerated death benefit claim?
A. Call or send your request to confirm eligibility and expedite your claim. Please tell us:
- name of the insured and policy owner (if different)
- policy number(s); and
- the amount of desired benefit
Q. Find out what is IRS Form 712 and when I need it?
A. It’s a statement that provides life insurance policy values as of the date of an insured's or policy owner's death, or at the time a life insurance policy is transferred as a gift.. The IRS requires that this statement is included when an estate (or gift) tax return is filed.
Q. Get IRS Form 712?
A. Call or send your request, including the policy number(s). If the policy owner is deceased, please include an address for the mailing owner.
Q. Check the status of my life insurance claim?
A. Call or send your request, and include the policy number(s). One of our representatives will either return your call within 24 hours.
Paying premiums
How Do I…
Q. Pay premiums?
A. Send a check for the premium amount due to our premium payment address. Make the check payable to Sun Life Financial / Sun Life Insurance and Annuity Company of New York and include the policy number on the check.
Q. Confirm you’ve received my payment?
A. Call or send your request, including the policy number(s).
Q. Notify you of my new bank account so I can continue to make automatic payments?
A. Complete the Pre-Authorized Check Form to update or change the bank from which we draft your policy premiums.
Q. Adjust my premium payment schedule?
A. You can change your premium payment frequency to Monthly Pre-Authorized Checking (PAC) or Direct Billing (Semi-Annual, Annual):
- PAC: Complete the Pre-Authorized Check form and submit it a voided check.
- Direct Billing: Complete the Premium Changes form.
Managing loans
How Do I…
Q. Borrow from my policy?
A.
- If you want to borrow $25,000 or less, you can call us directly at (800)700-6554.
- If you want to borrow more than $25,0000, make your request in writing by filling out the Loan, Dividend Withdrawal or Partial Withdrawal Request form.
Managing fund options
How Do I…
Q. Transfer money between sub-accounts?
A. Complete the VUL Fund Administration form.
Q. Change my fund allocations?
A. Complete the VUL Fund Administration form.
Q. Start, stop or change Dollar Cost Averaging?
A. Complete the VUL Fund Administration form.
Q. Start, stop or change the Asset Allocation Program?
A. Complete the VUL Fund Administration form.
Q. Start, stop or change the Portfolio Rebalancing Program?
A. Complete the VUL Fund Administration form.
Getting policy information
How Do I…
Q. Find out the most current values in my policy?
A: Call or send your request. Don’t forget to tell us your name and policy number(s). Then, we’ll mail a current policy report to the address we have for you on file. It will contain: the face amount, premium payment, cash values and any available loan amount.
Q. Get a policy illustration?
A. Call or send your request, including the owner’s name and policy number(s). Our in force illustration, or policy projection, will provide: projected premium outlay, projected policy values and projected face amount. Keep in mind, illustrations make certain assumptions regarding interest rates and costs for insurance, which will vary each year and impact your projections.
Q. Get the sub-account unit values?
A. Call our automated information system, at: 1-800-700-6554. Select Option 3, then select Option 1 for account values.
Q. Get the account values in my policy?
A. Call or send your request including the owner’s name and policy number(s). We’ll mail a report to the policy owner's address on record. To access our automated information system, call 1-800-700-6554 and select Option 3. Then, select Option 1 for account values.
Q. Get a lapsed policy reinstated?
A. Call us or complete the Reinstatement Form, including the policy number(s).
We will:
- Provide you with a quote for back premiums and overdue interest, and
- Determine if you need to provide evidence of insurability.
Q. Get a duplicate copy of my policy?
A. Call us or complete the Statement of Lost Policy form. Be sure to include the policy number(s).
Q. Change my premiums to non-smoker rates since I no longer smoke?
A. Call us or complete the Contractual Policy Change Requests form, including policy number(s), to see if you’re eligible for a rating change and to get additional requirements.
Q. Authorize someone to get information about my policy over the phone?
A. Complete the VUL Third Party Authorization form.
Q. Get a policy prospectus?
A. View the prospectus.
Q. Get a prospectus for the underlying funds in my policy?
A. View the fund prospectus.
