Yes that's correct. There is normally 3 lines of music.. The lyrics go under the lyric melody, then the treble and bass for the piano underneath. Guitar chords go at the very top over the lyric melody.  Notice the piano music is connected which is desired. I've never tried using Sonars Sheet music but I've certainly heard a million complaints about it. Best to use Pro Tools if this is important to you, it includes Sibelius which is good stuff.  
 

Use two tracks. Insert lyrics in the first track. Set each track to whatever clef you want. To get a display like the example Cactus gave, set track 1 clef to treble and track 2 clef to treble/bass. I also set the track name font size to 1 to get rid of track names. Here's a quick example (don't try and sing this at home!)

 
Cheers, Peter.