Two Insurers Give Back

While some consumers (and advisors) are not overly fond of major corporations and some question the ethics of big insurers in light of the 2008-2009 markets and financial crisis, two major life insurance companies recently announced philanthropic initiatives that belies suspicions that being big means being insensitive to the needs of others.

On January 27, Sun Life Financial said it will award more than $1 million this year in grants, scholarships, and other resources to at-risk high school students who are committed to furthering their education and the 501(c) (3) nonprofit organizations that work on behalf of such students. The Sun Life Rising Star Awards program was inspired, Sun Life Financial says, by findings from a study it conducted which revealed that while 89% of parents expect their children will go to college, only 50% have actually spent any time researching college costs. The study also showed that 32% of parents believe their children will receive a scholarship to help offset college costs, though only 25% of college costs are covered by scholarships and grants. For more information on the program, and to apply for grants, visit sunliferisingstar.com.