Sun Life $213.5 Million MetLife Class Action Settlement for Canadians, Which Canadians Qualify and How to Register

The Sun Life MetLife class action settlement is a proposed $213.5 million agreement where eligible Canadians who held universal life insurance policies originally sold by Metropolitan Life Insurance Company (MetLife) between 1987 and 1998 may be entitled to compensation — and are encouraged to register their information now at sunlifeclassaction.com while the settlement awaits court approval. Sun Life Financial announced the settlement in principle on April 30, 2026, in the Ontario Superior Court of Justice.

Quick Facts

Field	Detail
Proposed Settlement Amount	Up to $213.5 million
Defendant	Sun Life Assurance Company of Canada
Original Insurer	Metropolitan Life Insurance Company of Canada (MetLife)
Who Qualifies	Holders of MetLife universal life policies sold in Canada between 1987 and 1998
Policy Types	Universal Plus, Flexiplus, Optimet (and similar MetLife universal life policies)
Court	Ontario Superior Court of Justice
Class Counsel	Kim Spencer McPhee Barristers P.C. (KSM)
Class Action Filed	2010
Settlement Announced	April 30, 2026
Settlement Status	Proposed — pending court approval
More Information Available	After June 1, 2026
Payout Per Person	TBD — not yet determined
Registration Website	sunlifeclassaction.com
Last Updated	May 2, 2026

Current Status

• Sun Life announced the settlement in principle on April 30, 2026. It is not yet final — court approval is still required.
• More information will be available on the class action website after June 1. Class members are encouraged to register their information now so counsel can contact them directly when details are released.
• Sun Life has said it will seek full recourse from MetLife under an existing indemnity agreement if the court approves the settlement — meaning MetLife may ultimately bear much of the cost.

What Is the Sun Life MetLife Class Action About?

This case goes back more than 15 years and involves a specific type of life insurance that tens of thousands of Canadians purchased from MetLife in the late 1980s and early 1990s. When interest rates were high, these universal life policies were sold with projections that looked attractive. When rates fell, policyholders say they were left with something very different from what they were promised.

MetLife policyholders launched the class action in 2010 alleging breaches in connection with the sale and administration of 230,000 life insurance policies between 1985 and 1998. Plaintiffs originally sought $2.5 billion from Sun Life. The core allegation: policyholders may have been overcharged for insurance costs and fees, and the policy language was administered in a way that disadvantaged them.

Sun Life took over administration of the policies when it acquired Clarica Life Insurance Company in 2002. Clarica had bought MetLife’s Canadian operations in 1998. So Sun Life did not sell these policies — it inherited them — but it became legally responsible for how they were administered. The case was certified as a class action by the Ontario Court of Appeal in March 2019 and has been working through the courts ever since. The proposed $213.5 million settlement would bring it to a close after more than 16 years of litigation.

Do You Qualify for the Sun Life Settlement?

This settlement covers Canadians who held — or whose family members held — universal life insurance policies originally issued by MetLife in Canada. Here is how to know if you are in the class.

You may qualify if:

• You purchased a universal life insurance policy from MetLife of Canada between 1987 and 1998
• Your policy was a Universal Plus, Flexiplus, or Optimet policy — or a similar MetLife universal life product sold in that period
• Your policy was later transferred to Sun Life’s administration (which happened automatically in 1998 when Sun Life’s predecessor Clarica acquired MetLife Canada)
• You are the policyholder, or you are the beneficiary or estate representative of a deceased policyholder

You do NOT qualify if:

• Your life insurance policy was sold directly by Sun Life — this settlement covers only MetLife-origin policies
• Your policy was purchased before 1987 or after 1998
• You already pursued and resolved an individual misrepresentation claim separately from this class action

If you are unsure whether your policy falls within the class, you can register your information online at sunlifeclassaction.com. You will be asked to provide your personal information, your status (whether you are a policyholder, a relative of one, or a representative), your contact information, the type of policy you have, whether the policy is still in force, and whether you still have a copy of the policy.

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How Much Will Eligible Policyholders Receive?

It is not yet clear how much each class member could receive. The total settlement value is up to $213.5 million, but individual payouts depend on how many eligible class members participate, the specific policy details of each claimant, and what remains after legal fees and administration costs are deducted. With approximately 230,000 policies in the class, the per-policyholder amount will vary considerably.

More detailed information on individual payouts is expected to be released after June 1, 2026, once the court process advances and notice to class members is approved. Registering your contact information now at sunlifeclassaction.com ensures you receive direct notification when those details become available.

How to Register for the Sun Life Settlement

You cannot file a formal claim yet — the settlement still needs court approval before a claims process opens. But you should register your contact information now so class counsel can reach you.

Step 1 — Visit sunlifeclassaction.com and click on the registration section.

Step 2 — Enter your personal information and confirm your status — whether you are the original policyholder, a family member, or an estate representative.

Step 3 — Provide details about your policy: the type of policy, whether it is still active, and whether you have a copy of the original documents.

Step 4 — Submit your registration. Class counsel Kim Spencer McPhee Barristers P.C. will contact you directly as the settlement process moves forward.

Step 5 — Watch for updates after June 1, 2026, when additional settlement details are expected to be posted on the class action website.

Step 6 — Once court approval is granted and a formal claims process opens, you will receive instructions on how to submit your claim.

If you have questions not answered by the website, contact class counsel directly at complexlaw.ca.

Sun Life Class Action Timeline

Milestone	Date
MetLife Policies Sold in Canada	1987 – 1998
MetLife Canada Acquired by Clarica	1998
Sun Life Acquires Clarica	2002
Class Action Filed	2010
Ontario Court of Appeal Certifies Class Action	March 26, 2019
Settlement in Principle Announced	April 30, 2026
Further Details Expected	After June 1, 2026
Court Approval Hearing	TBD — date not yet announced
Formal Claims Process Opens	TBD — pending court approval
Payments to Class Members	TBD — pending court approval and claims process

Frequently Asked Questions

Is there a class action against Sun Life for MetLife policies? 

Yes. MetLife policyholders launched the class action in 2010 alleging breaches in connection with the sale and administration of 230,000 life insurance policies between 1985 and 1998. Sun Life announced a proposed $213.5 million settlement on April 30, 2026.

Am I part of the Sun Life MetLife class action?

 If you held a MetLife universal life insurance policy in Canada — specifically a Universal Plus, Flexiplus, or Optimet policy sold between 1987 and 1998 — you may be a class member. Register at sunlifeclassaction.com to confirm your status and receive updates.

Do I need to do anything right now to be included in the settlement? 

The settlement is not yet approved. You are not required to file anything to stay in the class. However, registering your contact information at sunlifeclassaction.com now ensures class counsel can notify you directly when the claims process opens.

How much will I receive from the Sun Life settlement?

 Individual payout amounts have not been confirmed. The total fund is up to $213.5 million, divided among eligible class members based on their policy details. More information is expected after June 1, 2026.

Why is Sun Life paying for MetLife policies it did not sell? 

Sun Life took over administration of the policies when it acquired Clarica Life Insurance Company in 2002. Clarica had bought MetLife’s Canadian operations in 1998. When a company acquires another’s operations, it typically assumes legal responsibility for administering the inherited policies. Sun Life has said it will seek to recover the settlement cost from MetLife under a pre-existing indemnity agreement.

When will the settlement be approved and payments made?

 No court approval date has been announced as of May 2, 2026. The settlement is still in principle only. Key details — including the claims process and payment timeline — are expected to be released after June 1, 2026, once notice to class members is approved by the court.

Who is representing class members in this case?

 Kim Spencer McPhee Barristers P.C. (KSM) serves as court-appointed class counsel in this action. Their website is complexlaw.ca and the dedicated class action site is sunlifeclassaction.com.

Does this settlement affect Sun Life policies I bought directly from Sun Life? 

No. Sun Life emphasized that this matter does not involve any policies or products it has sold under its own brand. Only MetLife-origin universal life policies sold in Canada between 1987 and 1998 are covered.

Sources & References

• Sun Life Financial Inc. official press release — April 30, 2026: sunlife.com
• Sun Life / MetLife Class Action official website: sunlifeclassaction.com
• Class Counsel: Kim Spencer McPhee Barristers P.C. — complexlaw.ca
• Ontario Superior Court of Justice — class action certified March 26, 2019

Disclaimer: This article is for informational purposes only and does not constitute legal advice. The proposed settlement is subject to court approval and its terms may change. For advice about your specific policy or eligibility, contact class counsel at sunlifeclassaction.com or consult a qualified Canadian lawyer.

Prepared by the AllAboutLawyer.com Editorial Team and reviewed for factual accuracy against Sun Life’s official press release and the sunlifeclassaction.com website. Last Updated: May 2, 2026.