Sun Life Grows Dental Biz
In an effort to grow its dental business, the life insurer Sun Life Financial Inc. (SLF) has announced it will provide its customer facility on the United Concordia Alliance network. The network has replaced the Advantage Plus Network. The service will be provided by Employee Benefits Group unit of Sun Life Financial.
The United Concordia Alliance network will thereby provide its customers with 27% more dental provider access points than the old network.
Sun Life already has an active presence in the dental insurance markets. It sells dental preferred provider organization (PPO) plans in all states in the U.S., with coverage for employees and dependents.
The plan is packaged in such a way that customers can tailor make it according to their requirements regarding deductibles, benefit waiting periods, coinsurance levels, and plan maximums. Extra benefits offered by the plan are built-in routine care, orthodontia for children and adults, and an annual maximum rollover benefit.
The company will have a braod penetration in the dental insurance markets, given that United Concordia network has 96,000 providers at more than 246,000 access points throughout the U.S.
Other players in the same industry providing dental plans are MetLife Inc. (MET), Humana Inc. (HUM) and CIGNA Corp. (CI).
During the recently reported fourth quarter earnings the company witnessed a strong growth in its Employee Benefits Group business, on the back of increased sales.
Sun Life is a leading Canadian life insurance company, with an active presence in the U.S. Over the long term we believe the company will be able to generate superior returns for its investors given a proactive approach to managing and mitigating fundamental issues.
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