The Employee Benefits Group of the U.S. business group of Sun Life
Financial Inc. (NYSE: SLF, TSX: SLF) today announced that Sun Life's
Group Dental plans now provide access to the United Concordia® Alliance
network. Available to customers as of March 1, 2013, the arrangement
provides 27%1 more dental provider access points to Sun Life
dental customers than the Advantage Plus Network, which the new
Sun Life Dental offers dental PPO plans in all states, with coverage for
employees and dependents. Employers can customize many plan features,
including deductibles, benefit waiting periods, coinsurance levels, and
plan maximums. Optional benefits include built-in routine care,
orthodontia for children and adults, and an annual maximum rollover
benefit. Fully-insured plans can be structured as 100% employer-paid,
100% employee-paid ("voluntary"), or as a shared-funding model
("contributory"). Administrative Services are available to employer
groups who prefer to self-fund their dental plans. Two plans can be
offered for a Dual Select, or "high-low" plan design, providing
employees greater choice.1
In July 2011, Sun Life entered an agreement with United Concordia that
provided access to the Advantage Plus dental PPO network. Sun
Life Dental plans will now be sold with United Concordia's Alliance PPO
network, which boasts 96,000 providers at over 246,000 access points
across the country.
"Sun Life is a leader in disability insurance and is committed to the
full array of employee benefits. We've provided group dental plans in
the U.S. for over 20 years. We've thoughtfully and deliberately worked
to grow our dental block with smart product development," said Michael
E. Shunney, Senior Vice President Distribution, Sun Life Financial U.S.
"Our partnership with United Concordia is helping us take our dental
offerings to the next level. The continued growth of their PPO network
is a great win for us and for our customers."
Sun Life provides Group Life, Disability, Dental, and Medical Stop-Loss
insurance to over 33,000 U.S. customers, protecting over 10 million
employees and their dependents, with $2 billion of in-force business.
For more on Sun Life, visit www.sunlife.com/us.
About the Alliance Network Agreement
Alliance Network applies only to dental plans underwritten by Sun Life
Assurance Company of Canada and Sun Life Insurance and Annuity Company
of New York. Excludes plans underwritten by Sun Life and Health
Insurance Company U.S. The network is made available through an
agreement with United Concordia Companies, Inc. Claims administration
services are provided by United Concordia Companies, Inc. and
regulations. Group insurance policies are underwritten by Sun Life
Assurance Company of Canada (Wellesley Hills, MA) in all states, except
New York, under Policy Form Series GP-A and GC-A. In New York, group
insurance policies are underwritten by Sun Life Insurance and Annuity
Company of New York (New York, NY) under Policy Form Series GP-A and
GC-A. Product offerings may not be available in all states and may vary
depending on state laws and regulations.
About Sun Life Financial
Sun Life Financial is a leading international financial services
organization providing a diverse range of protection and wealth
accumulation products and services to individuals and corporate
customers. Chartered in 1865, Sun Life Financial and its partners today
have operations in key markets worldwide, including Canada, the United
States, the United Kingdom, Ireland, Hong Kong, the Philippines, Japan,
Indonesia, India, China, and Bermuda. In the United States and
elsewhere, insurance products are offered by members of the Sun Life
Financial group that are insurance companies. Sun Life Financial Inc.,
the holding company for the Sun Life Financial group of companies, is a
public company. It is not an insurance company and does not offer
insurance products for sale in the United States or elsewhere, and does
not guarantee the obligations of its insurance company subsidiaries. In
the United States, Sun Life Financial provides a range of products and
services to employers and their employees, including group and voluntary
life, disability, dental and stop-loss insurance products. These
products are issued by Sun Life Assurance Company of Canada in all
states except New York. In New York, these products are issued by Sun
Life Insurance and Annuity Company of New York. Product offerings may
not be available in all states and may vary depending on state laws and
regulations. Sun Life Financial Inc. trades on the Toronto (TSX), New
York (NYSE), and Philippine (PSE) stock exchanges under the ticker
symbol SLF. For more information, visit www.sunlife.com/us.
PRFL-3271 SLPC 24771 02/12 (exp. 02/18)
1 Network growth based on data reported by United Concordia
Provider Relations as of February 19, 2013.
2 Benefit waiting periods, optional benefits, and plan
provisions may not be available in all states or on all cases. For
Voluntary and Contributory plans, participation requirements apply.
Product offerings may not be available in all states and may vary
depending on state laws Please contact your Sun Life Financial Employee
Benefit Group representative for a quote in your state.
Sun Life Financial