Notice of settlement approval hearing

If you hold or held a universal plus, flexiplus, or optimet univeral life insurance policy purchased from metropolitan life insurance co. In canada in 1987-1998, and then administered by sun life, this class action notice may affect your rights. Please read carefully.

Nature of the lawsuit

This notice pertains to a certified class action lawsuit entitled Fehr et al. v. Sun Life Assurance Company of Canada, Court File No. CV-10-00411183-00CP, which concerns Sun Life’s alleged improper administration of three universal life insurance policies, Universal Plus, Flexiplus, and OptiMet, that were sold by Metropolitan Life Insurance Co. (“MetLife”) agents in Canada from 1987 through to 1998.

Sun Life denies liability and has vigorously defended the lawsuit. However, the parties have now agreed to a proposed settlement of this lawsuit, subject to Court approval.

Who is a class member and potentially eligible to receive a settlement award?

In 2020, this action was certified on behalf of the following national sub-classes (collectively, “Class Members”):

Universal Plus Class: All persons who owned or own a Universal Plus policy sold by MetLife in Canada during the period 1987 through 1998, including any successor owners of the policy.

Flexiplus Class: All persons who owned or own a Flexiplus policy sold by MetLife in Canada during the period 1987 through 1998, including any successor owners of the policy, whose monthly costs of insurance and/or monthly administration fee was increased in one or more of 2001, 2006, or 2015 or the ninth year of the policy.

OptiMet Class: All persons who owned or own an OptiMet policy sold by MetLife in Canada during the period 1987 through 1998, including any successor owners of the policy where an increased cost of insurance rate was charged and paid commencing in year nine (9) of the policy.

Members of the Universal Plus Class and the Flexiplus Class, including former policyholders and estates, may be eligible to receive a payment in accordance with the terms set out in the Settlement Agreement to be approved by the Court. Members of the OptiMet Class will not receive benefits under this Settlement.

Terms of settlement

Under the Settlement, direct monetary compensation will be provided to certain members of the Flexiplus Class for a portion of past Cost of Insurance (“COI”) and Administrative Fee increases. Direct monetary compensation may also be provided to members of the Universal Plus Class for a portion of the COI charges paid in excess of the “Maximum Premium” amounts set out in their policies.

In addition, the Settlement provides substantial future policy benefits to current eligible Flexiplus policyholders in the form of permanent COI rate and administrative fee freezes, and to current Universal Plus policyholders in the form of a cap on future COI charges.

The total value of the Settlement is $213.5 million. The Settlement includes payment of administration expenses, and Class Counsel will apply to the Court for approval of certain legal fees and disbursements to be paid out of that sum. To learn more about the Settlement or to obtain a copy of the Settlement Agreement, please contact Class Counsel or the Claims Administrator listed below.

Court hearing and your right to participate

A motion to approve the Settlement Agreement, and to approve Class Counsel legal fees and disbursements, is scheduled to be heard by the Ontario Superior Court of Justice (the “Court”) in Toronto on September 8, 2026 at 2 pm at the courthouse on 361 University Avenue (the “Approval Hearing”).

Class Members who do not oppose the settlement do not need to take any action at this time.

The ability to opt out of this class action has already expired, and the Settlement, if approved, will be binding on all Class Members. However, all Class Members have the right to make a written submission to the Court to support or oppose the Settlement by delivering it to Class Counsel on or before August 31, 2026.

The written submission must contain the full name and contact information of the Class Member who is making the submission, as well as additional required details. Please email SunLifeClassAction@complexlaw.ca to learn more.

For more information

Please visit our dedicated website at www.sunlifeclassaction.com, email SunLifeClassAction@complexlaw.ca or contact Class Counsel or the Claims Administrator below:

Kim Spencer McPhee Barristers P.C.
1200 Bay Street, Suite 1203
Toronto, ON M5R 2A5
Attn: Megan B. McPhee
Email: SunLifeClassAction@complexlaw.ca
Websites:www.complexlaw.ca www.sunlifeclassaction.com

Sun Life Class Action c/o CA2 Inc.
9 Prince Arthur Avenue
Toronto, ON M5R 1B2
Attn: Claims Administrator
Phone: 1-800-538-0009
Email: sunlife@classaction2.com Website: www.classaction2.com/sunlife.html

Please do not contact the Court with any inquiries.
THIS NOTICE HAS BEEN APPROVED BY THE ONTARIO SUPERIOR COURT OF JUSTICE.