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June 28, 2004 at 08:00 PM
NU Online News Service, June 28, 2004, 2:12 p.m. EDT
Sun Life Assurance Company of Canada, Wellesley Hills, Mass., has introduced a survivorship universal life policy that offers an extra benefit for charitable customers.[@@]
A customer who buys a Sun Survivorship Universal Life LP2 policy with a face amount of at least $2 million will get a free Charitable Giving Benefit rider. The rider will pay a charity a special death benefit equal to 1% of the base policy’s face value, Sun Life Assurance says.
The base policy is designed so that the coverage will stay in force during the no-lapse guarantee period as long as the premium is paid as planned. A policy owner younger than 40 can choose a lapse-protection period of up to 60 years. Older policy owners can protect their policies from lapsing up to age 100.
