What is permanent life insurance?

Permanent life insurance is often called whole life insurance because it covers you for your whole life. It provides your beneficiaries a tax-free payment after you die. Some plans can build cash value over time. Permanent insurance costs are usually guaranteed not to increase from the time you first buy the policy. And some permanent insurance plans let you pay for a limited time and then never again. Universal life and participating life are other forms of permanent life insurance that you may want to consider.

Is permanent life insurance right for you?

Permanent life insurance is may be a good choice if you are:

  • Interested in lifetime coverage, and premiums that don't change
  • Looking for a permanent guarantee that will help protect your family, cover the cost of your funeral and let you make plans for your estate

You can purchase some types of life insurance online or you can speak to an advisor for help finding the right coverage and to get a quote.


Types of permanent life insurance:

SunSpectrum Permanent Life II

  • SunSpectrum Permanent Life II provides straightforward lifelong insurance 
  • This product is particularly well suited to people who want guaranteed protection for life but are not interested in actively managing their coverage 

Sun Life Go Guaranteed Life Insurance

  • Life insurance that lasts your lifetime
  • You’re guaranteed to qualify for $5,000 to $25,000 of life insurance
  • No questions asked about your health; apply online in just minutes

Permanent life insurance comparison:
Product features SunSpectrum Permanent Life II Sun Life Go Guaranteed Life Insurance
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Get a quote on SunSpectrum Permanent Life II through an advisor:

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More about SunSpectrum Permanent Life II

Get a quote on Sun Life Go Guaranteed Life Insurance:

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More about Sun Life Go Guaranteed Life Insurance

Payment options & Issue ages
Payment options & Issue ages
  • 10-pay: 0-85
  • 15-pay: 0-85
  • 20-pay: 0-80
  • Life pay: 0-85
Payment options & Issue ages
  • Pay to 95: 30-75
Coverage amounts
  • $25,000-$10 million: Ages 0-64
  • $10,000-$10 million: Ages 65-85
  • $5,000-$25,000 (units of $5,000): Ages 30-75
Guaranteed premiums
Yes
Yes
Coverage options
Coverage options
  • Single life
  • Joint first-to-die
  • Joint last-to-die (premiums to first death)
  • Joint last-to-die (premiums to last death)
Coverage options
  • Single life
Guaranteed cash values
Guaranteed cash values
Yes
Guaranteed cash values
N/A
Cash value accessibility
Cash value accessibility
Yes
Cash value accessibility
N/A
Underwriting
Underwriting
Yes
Underwriting
Yes
Optional benefits
Optional benefits
Yes
Optional benefits
No
Living benefit (in case of terminal illness)
Living benefit (in case of terminal illness)
Yes
Living benefit (in case of terminal illness)
Yes
Guaranteed return of premium on death
Guaranteed return of premium on death

All premiums paid for your policy will be added to the death benefit

Guaranteed return of premium on death

N/A

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Get permanent life insurance

Permanent life insurance can be a key part of your financial plan. Speak with an advisor to determine the right life insurance for your needs or get a quote online.

Speak with an advisor

Get a quote on SunSpectrum Permanent Life II through your advisor or an advisor near you. There's no cost to talk to an advisor.

Get a quote online

It's really easy to apply for Sun Life Go Guaranteed Life Insurance online. Get a quote online or read more about the product above.

Get a quote

Get more protection with critical illness insurance

Backing up your permanent life insurance policy with critical illness insurance gives you and your family more protection, whatever your future holds.  

Learn more about critical illness insurance.