Sun Life Financial Offers Group Dental with United Concordia® Alliance Network
WELLESLEY, Mass.--(BUSINESS WIRE)-- The Employee Benefits Group of the U.S. business group of Sun Life Financial Inc. (NYSE: SLF, TSX: SLF) today announced that Sun Life's Group Dental plans now provide access to the United Concordia® Alliance network. Available to customers as of March 1, 2013, the arrangement provides 27%1 more dental provider access points to Sun Life dental customers than the Advantage Plus Network, which the new arrangement replaces.
Sun Life Dental offers dental PPO plans in all states, with coverage for employees and dependents. Employers can customize many plan features, including deductibles, benefit waiting periods, coinsurance levels, and plan maximums. Optional benefits include built-in routine care, orthodontia for children and adults, and an annual maximum rollover benefit. Fully-insured plans can be structured as 100% employer-paid, 100% employee-paid ("voluntary"), or as a shared-funding model ("contributory"). Administrative Services are available to employer groups who prefer to self-fund their dental plans. Two plans can be offered for a Dual Select, or "high-low" plan design, providing employees greater choice.1
In July 2011, Sun Life entered an agreement with United Concordia that provided access to the Advantage Plus dental PPO network. Sun Life Dental plans will now be sold with United Concordia's Alliance PPO network, which boasts 96,000 providers at over 246,000 access points across the country.
"Sun Life is a leader in disability insurance and is committed to the full array of employee benefits. We've provided group dental plans in the U.S. for over 20 years. We've thoughtfully and deliberately worked to grow our dental block with smart product development," said Michael E. Shunney, Senior Vice President Distribution, Sun Life Financial U.S. "Our partnership with United Concordia is helping us take our dental offerings to the next level. The continued growth of their PPO network is a great win for us and for our customers."
Sun Life provides Group Life, Disability, Dental, and Medical Stop-Loss insurance to over 33,000 U.S. customers, protecting over 10 million employees and their dependents, with $2 billion of in-force business. For more on Sun Life, visit www.sunlife.com/us.
About the Alliance Network Agreement
Alliance Network applies only to dental plans underwritten by Sun Life Assurance Company of Canada and Sun Life Insurance and Annuity Company of New York. Excludes plans underwritten by Sun Life and Health Insurance Company U.S. The network is made available through an agreement with United Concordia Companies, Inc. Claims administration services are provided by United Concordia Companies, Inc. and regulations. Group insurance policies are underwritten by Sun Life Assurance Company of Canada (Wellesley Hills, MA) in all states, except New York, under Policy Form Series GP-A and GC-A. In New York, group insurance policies are underwritten by Sun Life Insurance and Annuity Company of New York (New York, NY) under Policy Form Series GP-A and GC-A. Product offerings may not be available in all states and may vary depending on state laws and regulations.
About Sun Life Financial
Sun Life Financial is a leading international financial services organization providing a diverse range of protection and wealth accumulation products and services to individuals and corporate customers. Chartered in 1865, Sun Life Financial and its partners today have operations in key markets worldwide, including Canada, the United States, the United Kingdom, Ireland, Hong Kong, the Philippines, Japan, Indonesia, India, China, and Bermuda. In the United States and elsewhere, insurance products are offered by members of the Sun Life Financial group that are insurance companies. Sun Life Financial Inc., the holding company for the Sun Life Financial group of companies, is a public company. It is not an insurance company and does not offer insurance products for sale in the United States or elsewhere, and does not guarantee the obligations of its insurance company subsidiaries. In the United States, Sun Life Financial provides a range of products and services to employers and their employees, including group and voluntary life, disability, dental and stop-loss insurance products. These products are issued by Sun Life Assurance Company of Canada in all states except New York. In New York, these products are issued by Sun Life Insurance and Annuity Company of New York. Product offerings may not be available in all states and may vary depending on state laws and regulations. Sun Life Financial Inc. trades on the Toronto (TSX), New York (NYSE), and Philippine (PSE) stock exchanges under the ticker symbol SLF. For more information, visit www.sunlife.com/us.
PRFL-3271 SLPC 24771 02/12 (exp. 02/18)
1 Network growth based on data reported by United Concordia Provider Relations as of February 19, 2013.
2 Benefit waiting periods, optional benefits, and plan provisions may not be available in all states or on all cases. For Voluntary and Contributory plans, participation requirements apply. Product offerings may not be available in all states and may vary depending on state laws Please contact your Sun Life Financial Employee Benefit Group representative for a quote in your state.
Sun Life Financial
Tim Stone, 781-366-5376
KEYWORDS: United States North America Massachusetts
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