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Sun Life U.S. expands Family Leave Insurance to Georgia, Louisiana, Mississippi and South Carolina

1. Sun Life expands Family Leave Insurance to four new states. 2. FLI aims to enhance paid leave access for employers and workers. 3. This initiative supports employee retention and recruitment efforts. 4. Full insurance structure mitigates risks for small and mid-size employers. 5. Economic growth expected as paid leave attracts workers.

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FAQ

Why Bullish?

The expansion of FLI can enhance Sun Life's competitive edge, similar to past benefits enhancements that drove employee satisfaction and business growth.

How important is it?

Continued expansion in employee benefits can positively influence SLF’s market position and revenue, linking back to legislative support for paid leave.

Why Long Term?

Improvements in employee benefits typically yield long-term retention and attraction of talent, impacting company profitability over time.

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SLF
, /PRNewswire/ -- Sun Life U.S. has expanded its Family Leave Insurance (FLI) offering to Georgia, Louisiana, Mississippi and South Carolina, with more states on the way. Sun Life currently offers FLI in Alabama, Arkansas, Florida, Kentucky, Oklahoma, Tennessee and Texas. The fully insured offering broadens workers' access to paid leave, giving more employers the option to easily provide a valuable benefit to their employees. Sun Life has long been an advocate for paid leave, working with state programs to include a private plan option and supporting legislative proposals to expand access to the employer federal paid leave tax credit. Sun Life FLI aligns with the current tax credit and will align with changes in the future. "We believe no one should have to choose between their job and caring for a loved one," said Joi Tillman, president, Group Benefits, Sun Life U.S.  "While the Family and Medical Leave Act provides unpaid leave up to 12 weeks, many employees have the difficult decision of whether they can afford to take time off to tend to their families. With FLI, employers can choose to offer paid family leave benefits in a structure that aligns with their business and gives employees the ability to return to work less stressed and ready to be productive." Built on decades of absence and leave management, and return-to-work expertise, Sun Life FLI fills a substantial benefits gap for employers in states without government programs. Sun Life FLI is offered as fully insured coverage, helping small and mid-size employers offer the benefit without the risk of self-funding.  "We now offer FLI in 11 states across the U.S. This will contribute to economic growth by attracting more workers to these regions and supporting the return-to-work process for those who go on leave," said Sheila Sokolski, vice president, Product Strategy and Portfolio Management, Sun Life U.S. "In addition to giving workers access to paid leave, FLI gives employers a powerful tool for talent recruitment and retention, as more professionals seek a robust benefits offering when considering jobs." With Sun Life FLI, employees get the benefit of Sun Life's online claims submission, and employers can track employees' leave details, supporting overall health and productivity management. Sun Life's recent webinar on FLI can be found here. Sun Life FLI will be available for quoting in Georgia, Louisiana, Mississippi and South Carolina on February 1, with additional states expected to approve filing in 2025. For more information visit www.sunlife.com/family.     About Sun Life Sun 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 United States, the United Kingdom, Ireland, Hong Kong, the Philippines, Japan, Indonesia, India, China, Australia, Singapore, Vietnam, Malaysia and Bermuda. As of September 30, 2024, Sun Life had total assets under management of C$1.51 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 8,500 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 contacts Devon FernaldSun Life U.S.[email protected]781-800-3609 Connect with Sun Life U.S. https://www.facebook.com/SLFUnitedStates   https://www.linkedin.com/company/sun-life-financial   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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