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Insurance Marketplace Standards Association (IMSA)
Members of the Sun Life Financial group of companies are certified by the Insurance Marketplace Standards Association (IMSA). Sun Life Assurance Company of Canada is a charter member of IMSA and was most recently re-certified in 2007. Sun Life Assurance Company of Canada (U.S.) and Sun Life Insurance and Annuity Company of New York were also re-certified in 2007. Member companies must re-qualify for membership every three years.
What is IMSA?
IMSA promotes high ethical standards in the sale and service of life insurance, annuity and long-term care products. In order to be IMSA members, insurers must undergo an internal assessment of their systems and programs, then undergo an assessment by an independent examiner to confirm that they meet IMSA's high standards of ethical market conduct. Every three years, insurers must undergo independent assessment of all business operations by an impartial third party.
How does IMSA membership benefit Sun Life's customers?
Each IMSA-member life insurance company subscribing to these principles commits itself in all matters affecting the sale of individually-sold life and annuity products:
- To conduct business according to high standards of honesty and fairness and to render that service to its customers which, in the same circumstances, it would apply to or demand for itself.
- To provide competent and customer-focused sales and service.
- To engage in active and fair competition.
- To provide advertising and sales materials that are clear as to purpose and honest and fair as to content.
- To provide for fair and expeditious handling of customer complaints and disputes.
- To maintain a system of supervision and review that is reasonably designed to achieve compliance with these Principles of Ethical Market Conduct.
For more information about IMSA, visit their Web site at www.imsaethics.org
Read the press release on Sun Life's most recent IMSA certification.
SLPC 11278
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