Sun Alliance - Life Insurance
Royal Sun Alliance Are
& Sun Alliance Insurance Company of Canada
Royal & Sun Alliance Life Insurance Company of Canada
& SunAlliance Canada and Royal & SunAlliance Financial
are part of the Royal & SunAlliance Group plc. Dating
back to 1710, the Group provides a comprehensive range of
insurance and financial services to customers worldwide.
Royal Sun Alliance History
Sun Alliance far-reaching history combines the stories of
two highly reputable companies.
England, in 1710: Sun Alliance roots go back to the Sun
England, in 1845: Royal Insurance is established by a
group of merchants and citizens.
and Quebec City, 1851: Royal Insurance agencies opened
1892: Canadian Sun Alliance office is established.
1959 and 1981: The Sun, the London, the Phoenix and the
Alliance merged to create the Sun Alliance Group plc.
Royal acquired London and Lancashire Insurance Group.
Royal acquired Western British America Group.
1990: Bob Gunn appointed President and Chief Executive
Officer of Royal Insurance.
Clive Smith appointed President & C.E.O. of Royal
& SunAlliance Financial.
Sun Alliance Insurance Company's Canadian property &
casualty operation purchased by Royal.
19, 1996: Royal Insurance and Sun Alliance merged operations
worldwide, to become Royal & Sun Alliance Insurance
Royal acquired The Johnson Corporation/Unifund Assurance
Company, the Canadian Personal Lines business of Hartford
Insurance Company of Canada and Hartford Fire Insurance
Company, and a majority of shares of Coast Underwriters
Royal & SunAlliance Financial acquired the block of
individual life business of Gerling Global Life Insurance
Company of Canada.
Bob Gunn appointed Group Director, Americas, overseeing
the Group's operations for Canada, the U.S., South America
and the Caribbean.
Linda Matthews appointed Chief Operating Officer.
Agilon Financial Inc. incorporated to provide one-stop
shopping of P&C and life products under one roof.
Larry Simmons appointed President & C.O.O., with Bob
Gunn maintaining his position as C.E.O. of the Canadian
operation, and Group Director of Americas Region for the
Royal & SunAlliance Canada's affiliate, Western Assurance
Company, acquired the personal insurance operations of
Kemper Canada, with Royal & SunAlliance Canada purchasing
certain commercial insurance operations of Kemper Canada.
What is Life Insurance?
insurance is a unilateral contract entered into by you and
your life insurance company. You agree to make regular payments,
the premiums, for a policy of life insurance, and your life
insurance company agrees to pay a person you appoint, the
beneficiary, a benefit if you should die while the policy
is in force.
are two main types of coverage provided by life insurance
insurance provides pure death benefit protection. You pay
premiums solely for meeting the need of coverage. If the policy
is terminated, it has no value.
insurance offers non-forfeiture or cash values. The premiums
you pay cover the cost of insurance with a portion going to
a tax-sheltered savings component called cash value. If the
policy is terminated, you do not forfeit the cash value.
Royal Sun Alliance Term and permanent insurance policies
life insurance is coverage taken for a defined period of time.
The most common defined periods are 10 and 20-year terms.
Evidence of insurability is required to qualify, yet at the
end of each term, you can renew the life insurance without
answering any medical questions or taking a medical examination.
In addition, the premiums you pay will stay the same during
the term. On each renewal date, your term life insurance will
automatically renew for the same term using applicable renewal
rates. In other words, your cost of insurance is guaranteed
for the term.
life insurance gives you coverage throughout your life provided
that premiums are fully paid to date. Permanent coverage plans
can offer you an investment portion called cash value. The
cash value can be used to fund your insurance costs or as
a savings component. Permanent plans also offer you the ability
to have insurance costs remain the same throughout your lifetime.
Do you need life insurance?
has different financial needs depending upon their life stage
and life decisions. People purchase life insurance for a variety
of different reasons. Many purchase life insurance to ensure
that their unexpected death does not bring financial hardship
to loved ones. In fact, life insurance can help meet several
different needs. These include:
payable upon death
the best way to determine if you may need protection is to
consult you Life Insurance Representative. Your representative
will conduct a thorough Needs Analysis with you. A thorough
Needs Analysis will evaluate your financial situation, your
life stage, your investment objectives and future goals to
determine whether you need coverage and how much coverage
you may require.
& SunAlliance Financial recommend you contact your Life
Insurance Representative to conduct your own Needs Analysis.
It's a straightforward process and will answer many questions
you may have about your financial security the security of
your loved ones. If you do not have a representative working
for you, use the Agent Locations search on the Royal Sun Alliance
web site to access a list of qualified individuals in your
Wellington St. E.,
Ontario M5E 1L5