May 9 (Reuters) - Canada's Sun Life Financial reported a fall in first-quarter profit on Thursday, hurt by higher morbidity claims.

The country's second-largest life insurer posted underlying net income of C$875 million ($639.81 million), or C$1.50 per share, in the three months ended March 31, compared to C$895 million, or C$1.52 per share, a year earlier.

($1 = 1.3676 Canadian dollars) (Reporting by Arasu Kannagi Basil in Bengaluru; Editing by Shailesh Kuber)