Premium Grace Period Extension
Sun Life is extending an extra 30 days to pay for all coverage with no need to contact the carrier as this provision is applied automatically. Sun Life announced on May 12th that they will provide a premium credit of 50% of July premium for fully insured groups having insured indemnity or PPO dental plans. Clients were also offered an option of having the credit applied to their next renewal rate action. As of this date, GBS is not administering any Sun Life groups with these products but felt brokers should be aware as it may affect business billed directly by the carrier.
Coverage Available to Laid Off Employees
Providing premiums are paid, Sun Life is extending the period of coverage to the earlier of 90 days or the end of the end of the period where a person is unable to work, is working reduced hours or is not working from their usual work location.