The US division of Sun Life Financial has announced several enhancements to its Sun Universal ProtectorPlus universal life product. The company has included an optional long term care rider that provides up to $20,000 in monthly benefits for qualifying insureds and reduced premiums from 3% to 8% for non-tobacco issue ages 35 to 65.

With these enhancements, Sun Universal ProtectorPlus offers a balance of low-cost death benefit protection coupled with early cash value accumulation, plus a combination of standard and optional benefits, including the long term care (LTC) rider.

Now, policy owners have a single product choice providing both affordable death benefit protection and a safeguard against uncertain long-term expenses.

The enhanced Sun Universal ProtectorPlus includes an optional long term care rider, on policies of $250,000 or greater, covering expenses for long term care with monthly benefits of up to $20,000, depending upon face amount.

Michele Leer, senior vice president and general manager for individual insurance at Sun Life Assurance Company of Canada, said: Our first and foremost goal is to deliver competitive, innovative life insurance products to our clients that help them address a variety of needs including estate planning, retirement savings and legacy creation.