Mr. David Healy reports

SUN LIFE U.S. NOW OFFERS FAMILY LEAVE INSURANCE IN FLORIDA TO HELP MORE WORKERS ACCESS PAID LEAVE BENEFITS TO CARE FOR LOVED ONES

Sun Life Financial Inc.'s Sun Life U.S. has expanded its family leave insurance (FLI) offering to Florida, with more states on the way. Sun Life currently offers FLI in Alabama, Arkansas, Tennessee and Texas. The fully insured offering broadens workers' access to paid leave, giving more employers the option to provide a valuable benefit to their employees more easily. Sun Life has long been an advocate for paid leave, working with state programs to include a private option and supporting the recent legislative proposal from Senators Deb Fischer and Angus King to expand access to the employer paid leave tax credit. Sun Life FLI aligns with the current tax credit and will align with changes in the future.

"We believe every worker in this country should have the option to take paid leave, and no one should have to choose between their job and caring for a loved one," said David Healy, 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 address their needs. Employers in Florida can choose to offer paid family leave benefits to their employees, who will have the ability to care for a loved one when necessary and return to work less stressed and ready to be productive."

Built on decades of industry experience and expertise on leave, absence management and return-to-work models, Sun Life FLI fills a substantial benefit gap for employers in states without government programs. Sun Life FLI is offered as fully insured coverage, helping small and mid-sized employers offer the benefit without the risk of self-financing.

"In addition to giving workers access to paid leave, FLI gives employers a powerful tool for talent recruitment and retention as, more often, workers seek out a robust benefits offering when considering jobs," said Sheila Sokolski, assistant vice-president, product and marketing, Sun Life U.S. "We are pleased to expand this benefit in more states, which will also contribute to their economic growth."

With Sun Life FLI, employees get the benefit of Sun Life's on-line claim submission and employers can track employees' leave details, supporting overall health and productivity management.

Sun Life FLI is available for quoting in Alabama, Arkansas, Florida, Tennessee and Texas on April 1, 2024, with additional states expected to approve filing in the coming months.

About Sun Life Financial Inc.

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 Dec. 31, 2023, Sun Life had total assets under management of $1.4-trillion.

Sun Life Financial trades on the Toronto Stock Exchange, the New York Stock Exchange and the Philippine Stock Exchange under the ticker symbol SLF.

Sun Life U.S. is one of the largest providers of employee and government benefits, helping more than 50 million Americans access the health 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 health care navigation. Sun Life employs more than 8,300 people in the United States, including associates in its 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.).