GROUP LIFE
Portability vs. conversion
With Sun Life Financial Group Life and AD&D plans, employees can take their coverage
with them by porting or converting. Portability and conversion help employees keep
coverage when they are no longer eligible for the employer-sponsored group plan. Here’s
how portability and conversion work.
About portability
Portability means that you take with you—or
“port”—your group coverage after employment
ends. Porting is a good solution for employees who
are 69 years old or younger and are not terminating
employment due to retirement, illness, or injury.
Ported coverage is term life insurance to age 70, and
the employee pays premium for coverage directly
to Sun Life.
Porting is available with Basic, Optional, and
Voluntary Life and AD&D plans. Other eligibility and
state restrictions may apply.
About conversion
Conversion means you change—or “convert”—
your group coverage to an individual policy
without having to answer any medical questions.
Conversion may be a good solution for employees
who are leaving a job, reducing hours, retiring, or
have reached an age when group coverage may
be reduced or eliminated. Converted coverage is
permanent universal life insurance.
Our conversion option is called Sun Universal
ProtectorPlus and is available with Basic, Optional,
and Voluntary Life coverage.
We make it easy
We understand that benefits administrators are
busy managing personnel changes when portability
and conversion become an issue. That’s why we
help to make these options easy for employers to
communicate and easy for employees to understand.
For employers, we can provide standard portability
and conversion notices. For employees, we provide
portability and conversion kits with instructions for
taking their Sun Life plans with them. Employees
then call our customer service representatives, who
will review the employee’s coverage and assist them
with their application.
Once we have enrolled an employee, we take care
of them through the duration of their coverage with
Sun Life.
Life’s brighter under the sun
Continued
To learn more about how portability and conversion add value to Life
and AD&D plans, call your local Sun Life Group Representative.
Life’s brighter under the sun
Portability features described here apply to group insurance policies purchased after July 2007. Product offerings may not be available in all states and may vary
depending on state laws, regulations, and group size. Voluntary AD&D portability is currently not available in FL, LA, MD, MN, NY, PR, SD, TN, VT, WA, and WV. In LA,
MN, SD, and VT, continuation is available.
Group insurance policies are underwritten by Sun Life Assurance Company of Canada (Wellesley Hills, MA) in all states, except New York, under Policy Form Series
93P-LH, 98P-ADD, 07-SL, 01C-LH-PT, GP-A, GC-A, 12-GP-01, 12-DI-C-01, 12-SD-C-01, 13-SD-C-01, 12-SD-R-01, 13-SD-R-01, 12-AC-C-01, 12-AC-R-01, and 12-AC-R-02. In New
York, group insurance policies are underwritten by Sun Life and Health Insurance Company (U.S.) (Windsor, CT) under Policy Form Series 13-GP-LH-01, 13-LF-C-01,
13-GPPORT-P-01, 13-LFPort-C-01, 13-ADD-C-01, 13-LTD-C-01, 13-LTD-P-01, 13-STD-C-01, 06P-NY-DBL, 07-NYSL REV 7-12, GP-A-1, and GC-A-1.
Sun Universal ProtectorPlus is underwritten by Sun Life Assurance Company of Canada in all states, except New York, under Policy Form Number ULN-2002. In New
York, Sun Universal ProtectorPlus is underwritten by Sun Life Insurance and Annuity Company of New York under Policy Form Number ULN-2007-NY.
Sun Life Assurance Company of Canada is a member of the Sun Life Financial group of companies.
© 2013 Sun Life Assurance Company of Canada, Wellesley Hills, MA 02481. All rights reserved. Sun Life Financial and the globe symbol are registered trademarks of
Sun Life Assurance Company of Canada. Visit us at www.sunlife.com/us. SLPC 21836 05/14 (exp. 05/16) GLFL-095
One Sun Life Executive Park
Wellesley Hills, MA 02481
www.sunlife.com/us
Portability vs. conversion with Sun Life plans
Portability Conversion
Description
Term life insurance protection up to age 70 Permanent universal life insurance, called Sun Universal
ProtectorPlus
Availability
Portability is available with:
•
Basic Life and AD&D
•
Optional Life and AD&D
•
Voluntary Life and AD&D
Conversion is available with:
•
Basic Life
•
Optional Life
•
Voluntary Life
Coverage
amounts
Employee may port the same coverage amounts as
he/she had under the group policy, up to $500,000.
Employees may convert up to the amount of coverage
that is being terminated or reduced.
Eligibility
To be eligible for portability, the employee must:
•
be covered under a group policy that includes
portability
•
be 69 years old or younger
•
not be retiring
•
not have an illness or injury with a material impact
on life expectancy
•
complete and submit the completed application and
premium payment to Sun Life within 31 days of status
change or as stated in the policy
•
maintain required premium payments
Other restrictions may apply.
To be eligible for conversion, the employee must:
•
be covered by a group life insurance policy
•
be terminating employment or retiring, OR
•
be losing group coverage because of age or change
of class
•
complete and submit the application and first
premium payment to Sun Life within 31 days of status
change or as stated in the policy
•
maintain required premium payments
Other restrictions may apply.
Dependents
To port or convert dependent coverage, the employee must meet the above requirements and the dependent(s)
must already be covered by the group plan. Dependent(s) can not be added to plans when porting/converting.
Hassle-free
application
1. Employer gives the Sun Life portability notice, kit,
and application to the employee.
2. Employee completes application and sends it with a
check for the first premium to Sun Life within 31 days.
3. Coverage is effective the first day of the next month
after the application is accepted.
1. Employer gives the Sun Life conversion notice to
the employee.
2. Employee calls Sun Life, providing employment and
group policy details. Sun Life then sends them a
personalized application with rates.
3. Employee completes application and returns with a
check for the first month’s premium within 31 days.
Coverage begins on the first day of the next month.
