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Sun Life U.S. congratulates Congressmen DeSaulnier and Scott on introduction of historic legislation to enhance coverage of mental health conditions in long-term disability insurance

1. Sun Life supports the Workers' Disability Benefits Parity Act. 2. The Act mandates equal coverage for mental and physical health in disability insurance. 3. Current mental health benefits are limited to 24 months; legislation seeks to extend this. 4. Enhanced mental health coverage can improve worker welfare and market stability. 5. Sun Life aims to evolve disability coverage to meet current American worker needs.

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Why Bullish?

The support for comprehensive legislation could position Sun Life favorably in the market. Historically, similar legislative support has benefitted insurance providers by expanding their customer base.

How important is it?

The article highlights potential legislative changes directly impacting Sun Life's insurance offerings and market position, which may lead to increased profitability.

Why Long Term?

Should the legislation succeed, it would create lasting changes in insurance policies, positively influencing Sun Life's market strategy and customer retention over time.

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UNMMETLNC
, /PRNewswire/ -- Dan Fishbein, M.D., president, Sun Life U.S., released the following statement in support of the Workers' Disability Benefits Parity Act, introduced today by Congressmen Mark DeSaulnier (CA-10) and Robert Scott (VA-03). This legislation would enhance long-term disability insurance benefits by requiring that mental health conditions be covered similarly to most physical conditions. Sun Life first called on Congress in 2023 to make these improvements to disability coverage. "This legislation rightly recognizes that mental health is health, and makes sure that workers will have the financial security they need to take care of themselves and their families, regardless of the cause of their disability. Mental health conditions must be given the same consideration as physical conditions in healthcare and in workplace benefits, especially disability coverage. A mental health condition can be just as disabling as a physical one, and can last just as long. Currently, most long-term disability benefits are typically capped at 24 months for mental health conditions. There should be a uniform federal standard to ensure long-term disability benefits cover mental health and physical conditions at the same level and length. This is an opportunity to evolve the way we address mental health diagnoses in the assessment of a person's ability to work. Stronger mental health expertise and management, paired with the vocational support already embedded in disability insurance, will help more people get the care and support they need to return to work and wellness. A market-wide legislative solution is the best way to ensure coverage for workers while supporting a strong and sustainable market for disability insurance. Disability coverage must evolve to meet the current needs of American workers. We applaud Congressmen DeSaulnier and Scott for introducing this important piece of legislation and stand ready to work with members of Congress and other partners to support its passing. Getting people back to health and work whenever possible remains the goal. Society benefits by helping more workers get the mental healthcare they need, and we now have the opportunity to do just that." About Sun LifeSun Life is a leading international financial services organization providing asset management, wealth, insurance and health solutions to individual and institutional Clients. Sun Life has operations in a number of markets worldwide, including Canada, the U.S., the United Kingdom, Ireland, Hong Kong, the Philippines, Japan, Indonesia, India, China, Australia, Singapore, Vietnam, Malaysia and Bermuda. As of March 31, 2025, Sun Life had total assets under management of C$1.55 trillion. For more information, please visit www.sunlife.com. Sun Life Financial Inc. trades on the Toronto (TSX), New York (NYSE) and Philippine (PSE) stock exchanges under the ticker symbol SLF. Sun Life U.S. is one of the largest providers of employee and government benefits, helping approximately 50 million Americans access the care and coverage they need. Through employers, industry partners and government programs, Sun Life U.S. offers a portfolio of benefits and services, including dental, vision, disability, absence management, life, supplemental health, medical stop-loss insurance, and healthcare navigation. Sun Life employs more than 8,300 people in the U.S., including associates in our partner dental practices and affiliated companies in asset management. Group insurance policies are issued by Sun Life Assurance Company of Canada (Wellesley Hills, Mass.), except in New York, where policies are issued by Sun Life and Health Insurance Company (U.S.) (Lansing, Mich.). For more information visit our website and newsroom. Media contactsDevon FernaldSun Life U.S.[email protected]781-800-3609 Connect with Sun Life U.S.Facebook | LinkedIn SOURCE Sun Life U.S. WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM? 440k+ Newsrooms & Influencers 9k+ Digital Media Outlets 270k+ Journalists Opted In

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