Sunlife Term Life Rates Canada — 2026 Rate Guide & How to Compare
Sunlife — Sun Life Financial — offers term life insurance in 10, 20, and 30-year terms, with optional no-medical-exam approval through Sun Life Go. This guide gives you approximate Sunlife term life rates by age, explains what affects your rate, and how to compare Sunlife with Manulife, Canada Life, Desjardins, and 50+ other Canadian providers to find the lowest rate.
Updated March 16, 2026
Sunlife term life rates — approximate monthly (20-year term, $500K, non-smoker)
Direct answer: Sunlife (Sun Life) term life rates depend on age, health, smoking status, coverage amount, and term length. Below are approximate monthly premiums for a healthy non-smoker, $500,000, 20-year term.
| Age | Monthly (approx.) |
|---|---|
| 25 | $18–$28 |
| 30 | $22–$36 |
| 35 | $28–$46 |
| 40 | $39–$62 |
| 45 | $56–$92 |
| 50 | $86–$132 |
These are estimates; your actual Sunlife term life rate will depend on underwriting. Smokers pay significantly more; preferred health classes can qualify for lower rates. For 10-year or 30-year terms, see a free quote comparison.
What affects Sunlife term life rates?
- Age: Younger applicants pay less. Rates typically increase 8–12% per year of age.
- Smoking status: Non-smokers (no tobacco/cannabis for 12+ months for most insurers) pay 2–3× less than smokers.
- Health: Preferred health classes get the lowest rates; conditions or medications can increase premiums.
- Coverage amount and term: Higher coverage and longer terms cost more in total premium.
Sun Life Go allows some applicants to get term life with no medical exam — rates may differ from fully underwritten policies. See no medical exam life insurance in Canada.
How Sunlife term life rates compare to other insurers
Sunlife's term life rates are competitive with Manulife and Canada Life. Desjardins and Empire Life often offer lower term rates for healthy applicants. The difference between the cheapest and most expensive insurer for the same coverage is often 30–50%. Comparing quotes from 50+ providers is the only way to see if Sunlife is the best rate for you.
Related: Sun Life Insurance Review · Sunlife Insurance Canada · Affordable Term Life Insurance Canada · Term Life Insurance Canada
Frequently asked questions
What are Sunlife term life rates in Canada?
Rates vary by age, health, smoking status, and coverage. A healthy 30-year-old non-smoker might pay approximately $22–$36/month for $500,000, 20-year term. Compare with 50+ providers for your exact rate.
Does Sunlife offer no-exam term life?
Yes. Sun Life Go offers term life with no medical exam for qualifying applicants, often with 24-hour approval.
How do Sunlife term life rates compare?
Sunlife is competitive; Desjardins and Empire Life are often lower for healthy applicants. Comparing 50+ providers ensures you get the lowest rate.
Compare Sunlife term life rates now
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