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Sun Life Go Guaranteed Life Insurance review

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Permanent life insurance with guaranteed premiums and a quick application process.

Sun Life Go Guaranteed Life Insurance is a permanent life insurance option that guarantees your premiums. You can apply for it online in minutes.

Details

Insurance ProductsLife Insurance
Term LengthsPermanent life insurance
Medical Exam RequiredNo
Province AvailabilityAll of Canada

What is Sun Life Go Guaranteed Life Insurance?

The Sun Life Go Guaranteed Life Insurance product is a permanent life insurance policy. Permanent life insurance is similar to whole life insurance because it covers you for your entire life, but unlike whole life insurance, permanent life insurance does not have a cash value. The Sun Life Go Guaranteed Life product guarantees you a fixed premium until you are 95 years old, at which point you no longer have to pay. However, the minimum coverage you can apply for is $5,000 and the maximum is only $25,000. You can apply online without answering questions about your medical history. This type of life insurance is best suited to those who have had difficulty getting life insurance in the past. It’s often intended to pay for so-called end-of-life expenses such as your funeral. Canadian residents between the ages of 30 and 74 are eligible to apply. Policy exclusions, limitations and restrictions are available on the Sun Life website.

What types of life insurance does Sun Life offer?

Sun Life is one of Canada’s Big Three insurance companies. It offers a wide variety of coverage options:

  • Life insurance. Sun Life offers both permanent and term life insurance options.
  • Disability insurance. This provides you with an income if you become injured or sick and can’t work.
  • Critical illness. This provides you with a lump-sum payment upon approval of claim, but claimants need to meet the definition of the covered illness. Not all serious illnesses are covered. Claimants also decide how they will spend the reimbursement of the health insurance benefit. Most health insurance expenses are paid by the plan member up front and then reimbursed by Sun Life.

Check out our full review of all Sun Life’s insurance coverage here.

What riders can I add to my Sun Life Go Guaranteed Life Insurance policy?

You can purchase accidental death insurance coverage of up to $500,000. This provides additional funds to your beneficiaries if you die within 90 days as the direct result of an accident. In theory, this could bolster the limited benefits available with Sun Life Go Guaranteed Life Insurance. However, you should speak to a licensed advisor about your options. Exclusions and limitations apply.

How much does Sun Life Go Guaranteed Life Insurance cost?

We applied online for a quote, seeking $25,000 in lifetime coverage. We used a 33-year-old male non-smoker living in Nova Scotia as our test case. Sun Life quoted us a premium of $42.12 per month for this product.

Pros and cons of Sun Life Go Guaranteed Life Insurance

AdvantagesDrawbacks
  • Quick online application process
  • Premiums guaranteed
  • No medical questions or health exam; basically, you are guaranteed coverage
  • Only up to $25,000 in available coverage, not ideal for offering long-term financial security to your loved ones
  • Must be at least 30 years old to apply
  • You may end up paying more in premiums over the course of your coverage than you receive in benefits

Sun Life insurance reviews and complaints

Sun Life has the highest possible rating, an A+, from the Better Business Bureau (BBB). It’s not accredited with the organization. Sun Life received an average review of 2.5 out of 5 stars from 11 customer reviews on the BBB site. It is worth noting Sun Life has millions of customers in Canada, so the same size of reviews is miniscule.

How do I apply for Sun Life Go Guaranteed Life Insurance?

You can purchase Sun Life Go Guaranteed Life Insurance through a Sun Life advisor or online. Here are some ways to get in touch with Sun Life:

  • Online. Click the green “Go to site” button above to be securely redirected to the Sun Life website to get a quote or apply for Sun Life Go Guaranteed Life Insurance.
  • Phone. Call Sun Life to receive a quote.
  • Email. You can email Sun Life to get in touch with an advisor or to ask about individual insurance products.
  • Find an advisor. Sun Life’s website helps you locate an advisor in your area that can help you with inquiries about Sun Life products.

Compare other Sun Life Financial life insurance products

Name Product Types of Insurance Coverage Range Issue Ages Medical Exam Required Province Availability
Sun Life Go Simplified Term Life Insurance
Term Life
$50,000 - $100,000
18 - 69 years old
No
All of Canada
Sun Life Go Simplified Term Life Insurance covers you for 10 years, during which time your premiums are guaranteed not to rise. Apply for up to $100,000 in coverage.
Sun Life Go Term Life Insurance
Term Life
$100,000 - $1,000,000
18 - 69 years old
No
All of Canada
Sun Life Go Term Life Insurance is a standard term life insurance option that guarantees your premiums in the first 10 or 20 years of your policy.
Sun Life Go Guaranteed Life Insurance
Whole Life
$5,000 - $25,000
30 - 74 years old
No
All of Canada
Permanent life insurance coverage that guarantees fixed premiums until 95 years old (and no premiums thereafter).
Connect with a Sun Life Advisor
Whole Life, Term Life
Varies
18 - 74 years old
No
All of Canada
Fill in a quick form and a Sun Life advisor will contact you to help you find the right life insurance policy for your needs.
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Bottom line

Sun Life Go Guaranteed Life Insurance could be a good choice for people who have had a hard time getting life insurance in the past. This could be for medical reasons or any other issue. The application process can be done online and there is no medical exam, or even any questions about your health. But there’s a catch: the total coverage offered is low. The maximum benefit of $25,000 could help with funeral expenses, but it probably would not be enough to offer financial security to your loved ones.

Frequently asked questions about Sun Life Go Guaranteed Life Insurance

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