#1 SUN LIFE FINANCIAL INVESTMENTS; Pay attention to your investments! I learned the hard way. Sun Life has illegally been charging me a FRONT END FEE and a BACK end fee on my investments for over three years. They pull money in and out of investments just to increase their own fees they can collect. Then, when you attempt to move your funds to a different investment firm to conduct your own investments, they use DELAY TACTICS. All while your investment dwindles away to nothing. Highly frustrating and unprofessional. I requested my funds be moved over to my own financial institution that I deal with. It has been FOUR MONTHS. My bank has been fighting to get my money out of the greedy claws of Sun Life. I have been on the phone with them daily. It's supposed to take up to three weeks. Not four months. What a joke! #2 SUN LIFE INSURANCE; We asked Sun Life a simple question about their life insurance policies available at a local trade show. The lady at the trade show seemed nice enough... So we gave her our phone number. She said she would call us to answer our question later. She called us EVERY DAY for SIX MONTHS straight. Not exaggerating! We were ready to charge Sun Life with harassment as we asked them OVER and OVER again to stop calling. We even went into the office and told them we were not interested in their life insurance. There are better options out there for life insurance. They continued to harass us, attempting to use scare tactics to talk us into buying their insurance. #3 WORK-BASED BENEFITS PACKAGE; What an over-priced pile of garbage. Every company seems to make the switch over to Sun Life because they APPEAR to have lower rates. Then later find out that Sun Life actually doesn't have good coverage at all. Most of the claims that employees submit get declined or audited. Sun Life is extremely difficult to get ahold of and, if you do manage to get through to sometime, good luck understanding what they are mumbling over the phone... Other benefits packages (EG Great-West Life) offer much better packages and a painless online claim process that pays you within 72 hours. Even care suppliers will refuse to use "Direct Pay" if you have Sun Life because they are so terrible to deal with.
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We bought insurance and financial products from Sun Life in 2010. Their subsequent communications are an ongoing Gong Show. Thousands of words, very few numbers, no transparency at all. Another example just came in: a letter informing us that “the monthly cost of insurance of $140.62 exceeded the fund value in your policy on Nov. 18, 2017, and a minimum payment of $75.27 is required.” We called our very experienced agent (again) to ask about it and got back 2 long emails full of details about our various accounts without clarifying anything at all. Some of the details were flat wrong. We called him again this morning and had to rein his complicated, jargon-loaded, often erroneous explanations in several times before he finally realized what the “fund value in your policy” meant and that the $75 payment was going to disappear anyway when we make our regular annual payment. Our agent pointed out that people commonly lose track of the complexities of their Sun Life policies and other accounts. Well, duh. I asked why, since the company is obviously aware of that fact, their communications are ALL so obtuse as to make their customers feel too stupid to follow what is happening with their investments? No answer. He also had no answer for why his calculations about this matter do not match those of the letter. Sun Life is a Gong Show as far as customer communications and transparency are concerned. The only reason we have not closed our accounts with Sun Life is because none of the 3 tiers of customer service we have contacted can tell us what it will cost us to do so. As far as they have been able to show us, our investments with them have paid less than 5% returns during one of the most profitable markets in the history of the world. We would not trust Sun Life to carry our lunch around the corner, and are chipping away at an escape hatch.
My insurance broker compared for me several quotes and returned back with a Sun Life option which was one of the cheapest. It was easy to set up time with them for a medical exam. Their nurse arrived punctually and was very friendly and professional - no difficulties in completing the tests: blood pressure, blood, etc. I found their policy document to be quite complicated with too many data being collected... Though I assume that's probably the same for all life insurance companies ...
i called a few insurance companies to inquire about a life insurance package. I was satisfied with Sun Life. It was a good mix of good customer service and a decent price