Sun Life Insurance Review 2025

No fee everyday banking

Set up direct deposit and skip the monthly fee. Free to open, and the Easy plan has no monthly fee. Worth doing if you will actually move your pay or your CRA deposits over, not if the card sits unused. Code BREMO2026.

See how it works

Is Sun Life the right insurance company for you? Our honest assessment of products, rates, and service.

4.3/5
bremo.io Verdict: Sun Life is one of Canada's top-tier insurers with excellent financial strength, strong advisor networks, and a comprehensive product suite. Particularly strong for complex insurance needs, estate planning, and group benefits. Rates are competitive but vary — compare quotes.

About Sun Life

Sun Life Financial is one of Canada's oldest and largest financial services companies, founded in 1865 in Montreal. Headquartered in Toronto, Sun Life operates across Canada, the US, Asia, and Europe. It is federally regulated under OSFI and holds AA+ financial strength ratings — among the highest in Canada's insurance industry.

Sun Life Insurance Products

Life Insurance

Health and Disability Insurance

Group Benefits

Sun Life is one of Canada's leading group benefits providers. Their GroupNet platform is widely used and well-regarded for ease of claims submission. Sun Life administers benefits for many of Canada's largest employers.

Sun Life Rates: How Do They Compare?

Sun Life's term life rates are competitive and frequently rank among the lowest available for certain age groups and health classes. Sun Life also offers "Sun Life Go" — a digital term life platform where healthy Canadians under a certain age can apply online without an advisor and receive instant approval in many cases.

For complex cases (health conditions, large face amounts, business insurance), Sun Life's experienced underwriting team can sometimes offer better outcomes than smaller insurers.

Sun Life Customer Service

Sun Life consistently receives strong marks for customer service quality. Their multi-channel service model — advisors, digital tools, and phone support — provides flexibility. The MySunLife mobile app and online portal allow policyholders to manage their policies, submit group benefits claims, and access statements digitally.

Strong for group benefits users: If you have Sun Life group benefits through your employer, the GroupNet app and portal are among the best in the industry for submitting dental and health claims. Most claims are processed within days.

Pros and Cons

Pros

  • AA+ financial strength — among Canada's highest rated
  • Strong digital tools (MySunLife app, Sun Life Go)
  • Excellent group benefits platform (GroupNet)
  • Competitive term life rates for many demographics
  • Strong for complex estate planning needs
  • Comprehensive product suite

Cons

  • Not always the cheapest for all demographics — compare
  • Complex products can be difficult to evaluate without an advisor
  • Some users report long wait times for complex claims

Sun Life Financial Strength

Rating AgencyRating
DBRS MorningstarAA+ (Stable)
Standard & Poor'sAA- (Very Strong)
Moody'sAa3

Build Your Financial Safety Net — Start with Free Banking

While you shop for insurance, make sure your banking isn't eating your budget. KOHO gives Canadians a no-fee account with cash back on everyday purchases. Use code BREMO2026 for a bonus.

Get KOHO Free — Use Code BREMO2026

Who Is Sun Life Best For?