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| February 13, 2008: Sun Life (US) introduces Retro Disability Benefits(sm) |
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{From Press Releasee} The U.S. division of Sun Life Financial Inc. (NYSE:SLF, TSX:SLF) today introduced the group insurance industry’s first Retro Disability BenefitsSM, an innovative product feature that provides extra financial benefits for seriously ill or injured employees.
Only the Sun Life Financial companies offer this benefit, which is now included in all new Sun Life Assurance Company of Canada group long term disability contracts Typically, LTD plans have an elimination period when benefits are not paid. Now, with Retro Disability Benefits, if an employee was continuously hospitalized for 14 days or more at the onset of Total Disability, and is approved for LTD benefits, Sun Life will retroactively pay that claimant his or her LTD benefits from the first day the claimant was deemed totally disabled. The Retro Disability Benefit is paid to the claimant as a lump sum, and there are no offsets for earnings, sick pay or other insurance benefits. http://www.sunlife-usa.com/group |
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