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September 28, 2020
WELLESLEY, Mass. and SALT LAKE CITY, Utah, Sept. 28, 2020 /PRNewswire/ -- Sun Life U.S. and The MGIS Companies, Inc., a leading national insurance program manager, today announced a ten-year extension of their partnership serving the customized benefit needs of healthcare professional groups nationwide since 2006. Sun Life will continue to be the exclusive provider of group disability and life insurance to MGIS' growing base of healthcare professionals in various practice settings and will expand products and services to shared Clients under the new agreement.
"We're delighted to continue our partnership with MGIS, which is the market leader in insurance management services for healthcare professionals and has a longstanding commitment to healthcare practices," said David Healy, senior vice president, Group Benefits at Sun Life U.S. "Our extended partnership will allow us to expand our rich coverages and services for healthcare professionals by pairing our benefits expertise with the deep knowledge of MGIS in serving the unique needs of this marketplace."
Sun Life's dedicated claim team for MGIS clients understands the complexity of healthcare incomes and how to help these high-performing, patient-focused professionals get back on their feet after an illness or injury with the help of its clinical, vocational and occupational rehabilitation experts.
"We are very pleased to extend our partnership with Sun Life," said Jeff Brunken, president, MGIS. "Sun Life's commitment to innovation and high quality within the specialized healthcare professional disability insurance sector makes them the ideal partner for us. We look forward to growing together and meeting the needs of our clients and brokers for years to come."
MGIS and Sun Life plan to build upon on their popular offerings, like the unique MGIS IncomeProtect® program that provides highly specialized long-term disability coverage designed exclusively for physicians, dentists and other healthcare professionals. Together, they will design distinctive solutions for the evolving healthcare marketplace to address the multifaceted income replacement needs of healthcare professionals.
About Sun Life
Sun Life is a leading international financial services organization providing insurance, wealth and asset management solutions to individual and corporate Clients. Sun Life has operations in a number of markets worldwide, including Canada, the United States, the United Kingdom, Ireland, Hong Kong, the Philippines, Japan, Indonesia, India, China, Australia, Singapore, Vietnam, Malaysia and Bermuda. As of June 30, 2020, Sun Life had total assets under management of C$1,122 billion. For more information, please visit www.sunlife.com.
Sun Life Financial Inc. trades on the Toronto (TSX), New York (NYSE) and Philippine (PSE) stock exchanges under the ticker symbol SLF.
In the United States, Sun Life is one of the largest group benefits providers, serving more than 60,000 employers in small, medium and large workplaces across the country. Sun Life's broad portfolio of insurance products and services in the U.S. includes disability, absence management, life, dental, vision, voluntary and medical stop-loss. Sun Life and its affiliates in asset management businesses in the U.S. employ approximately 5,500 people. Group insurance policies are issued by Sun Life Assurance Company of Canada (Wellesley Hills, Mass.), except in New York, where policies are issued by Sun Life and Health Insurance Company (U.S.) (Lansing, Mich.). For more information, please visit www.sunlife.com/us.
MGIS is a leading national insurance program manager experienced in building and managing specialized insurance programs for healthcare professionals. We partner with the highest rated insurers and focus on group disability and life for medical practices of all sizes, types, and specialties. Insurance policies managed by MGIS are backed by members of the Sun Life group that are insurance companies and Certain Underwriters at Lloyd's. We work exclusively through select brokers and insurance advisers. MGIS services are provided by MGIS affiliated companies: The MGIS Companies, Inc., Medical Group Insurance Services, Inc., and MGIS Underwriting Managers, Inc. (DBA as MGIS Professional Insurance Solutions in CA and MGIS Underwriting Agency in NY). www.mgis.com
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