If you are a list bill client, you will find that some Sun Life benefits are billed in advance, while other are billed in arrears. It's important to understand when you can expect your bills to be available on Sun Life Connect each month, and when premium need to be paid.
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Advanced billing
Sun Life bills the following benefits in advance:
- Dental
- Vision
- Basic Life and AD&D
- STD
- LTD
This means benefits are billed and premiums paid prior to the upcoming coverage period. Advanced bills are produced 10-14 business days prior to the first of each month for all future coverage periods and will be available on Sun Life Connect. Payment is due by the 1st day of each month.
Ex: For the coverage period of October, a bill would be available by September 25th and premium should be remitted as soon as possible.
Arrears billing
Sun Life bills the following benefits in arrears:
- Accident
- Critical Illness
- Cancer Indemnity
- Hospital Indemnity
- Issue Age STD
This means billing statements are pro-rated for these benefits, and premium is expected to be paid following the coverage period. Arrears bills are available 15-19 business days after the first of each month for the prior coverage period. Payment is due by the 10th of the following month.
Ex: For the coverage period of October, a bill would be available by October 25th and premium should be remitted in early November.
Benefits that can be billed in advance or arrears
The following benefits can be billed in advance or arrears:
- Voluntary Life and AD&D
- Voluntary STD
- Voluntary LTD
You will need to decide how they should be billed when completing your onboarding forms with Sun Life.