Participating life insurance, often referred to as par insurance, is a type of permanent life insurance that provides lifelong coverage, cash-value growth, and the opportunity to earn dividends.
Sun Life offers two participating life insurance products:
Ideal for: Children, high net-worth families, young professionals, pre-retirees
Ideal for: Business owners, young professionals, high net-worth families, pre-retirees
Interested in participating life insurance? Or maybe you’re not sure which product is right for you? An advisor can discuss your options and help you set up an insurance plan that meets your needs.
Enter your postal code to find an advisor near you.
Helps ensure your loved ones are financially secure after you die with a guaranteed tax-free payment.
A chance to grow your savings over time on a tax-preferred basis, offering more financial flexibility.
A chance to use policy dividends* to buy additional coverage, reduce premiums, or take out cash.
* Dividends are not guaranteed.
Cost factors for participating life insurance include your age, health, assigned sex at birth, and coverage amount. For example, a 35-year-old healthy individual might pay a monthly premium based on specific coverage levels.
You can borrow against your cash value or withdraw funds, although doing so may have tax implications. Connect with a Sun Life advisor for more detailed information.
Yes, while policy dividends are not guaranteed, they can provide financial flexibility. You can use them to reduce premiums, buy additional coverage, or receive them in cash. Connect with a Sun Life advisor about your dividend options in a participating policy.
Policy dividends can change from year to year. Participating life policies are grouped based on certain factors such as the type of policy and when it was purchased. The experience of each group determines the dividends we can allocate to the group. However, it’s important to note that we do not guarantee dividends.
Looking for financial protection for the people who depend on you that will last as long as you live? Permanent life insurance might be the answer.
Find out what’s right for you.
What’s the difference between term, permanent, participating and universal life insurance policies? And which ones meet your needs?
This information is meant for educational and illustrative purposes only. Some conditions, exclusions and restrictions apply.
Reviewed by Jean Turcotte
