Sun Life Financial Announces Stop-Loss Unlimited Lifetime Maximums
Leading the way in Meeting Clients' Healthcare Legislation Needs
WELLESLEY, Mass. (May 26, 2010) –The Employee Benefits Group division of Sun Life Financial Inc. (NYSE: SLF, TSX: SLF) (“Sun Life”) today announced that it will provide unlimited lifetime maximums for stop-loss policies effective on and after October 1, 2010.* This new feature was developed to help employers meet the mandates in the Patient Protection and Affordable Care Act (“Affordable Care Act”). Unlimited lifetime maximums mean that employers will receive stop-loss protection for qualified benefits, and employees and their dependents can count on their benefits being there when they need them.
“Brokers and customers are right to turn to us for insight and solutions that make sense in regard to the Affordable Care Act,” said Scott Beliveau, Vice President of Underwriting and Claims for Sun Life’s Employee Benefits Group division. He continued, “As a leader in the stop-loss industry, providing unlimited lifetime maximums is an example of how we continue to deliver on our stop-loss value proposition—expert solutions that help employers keep their costs down. We anticipate offering additional protections for our customers in relation to the new health care laws.”
Sun Life is committed to keeping consumers informed and educated regarding new healthcare legislation. They have a comprehensive, ongoing communication program to provide complete, accurate, and timely information on the new legislation and how it will impact the employee benefits industry. As part of that program, Sun Life publishes the online newsletter, News Flash, available on the employee benefits section of www.sunlife.com/us.
Read the latest Sun Life News Flash edition:
Health Care Reform—what it means to our industry and your business
Or, copy this link into your browser:
As a provider of a wide range of group insurance products in addition to Stop-Loss—including Group Life, Long Term Disability, Short Term Disability, Dental, and Voluntary—Sun Life has been actively involved in the health care reform legislation debate through trade associations such as America’s Health Insurance Plans (AHIP), Self Insurance Institute of America (SIIA), and the National Association of Dental Plans (NADP). Sun Life is devoting significant resources to identify the key issues raised by the new legislation—particularly those that directly or indirectly impact Sun Life’s products, customers, and business partners.
*This feature is subject to state filing requirements and approvals.
About Sun Life Financial
Sun Life Financial is a leading international financial services organization providing a diverse range of protection and wealth accumulation products and services to individuals and corporate customers. Chartered in 1865, Sun Life Financial and its partners today have operations in key markets worldwide, including Canada, the United States, the United Kingdom, Ireland, Hong Kong, the Philippines, Japan, Indonesia, India, China and Bermuda. As of March 31, 2010, the Sun Life Financial group of companies had total assets under management of $428 billion. Sun Life Financial Employee Benefits Group includes Sun Life and Health Insurance Company (U.S.), Sun Life Insurance and Annuity Company of New York, and Sun Life Assurance Company of Canada. Sun Life Financial Inc. trades on the Toronto (TSX), New York (NYSE) and Philippine (PSE) stock exchanges under the ticker symbol SLF.
For more information, please visit www.sunlife.com
Alexi A. Maravel
SLPC 21916 5/10 (Exp. 5/15)