Sun Life Financial Enhances Step-Up Feature to an Annual Benefit in Secured Returns for Life Plus.WELLESLEY, Mass. -- Upgrade for Sun Life Masters Variable Annuities Variable annuities Investment contracts whose issuer pays a periodic amount linked to the investment performance of an underlying portfolio. Helps Investors Lock in Gains, Increase Benefit Value with No Change in Overall Fees The U.S. division of Sun Life Financial Inc. (NYSE NYSE See: New York Stock Exchange : SLF SLF Super Low Frequency (30-300 Hz; 10,000-1,000 km) SLF Self SLF Statens Landbruksforvaltning (Norwegian Agricultural Authority) SLF Sveriges Läkarförbund SLF Saalfeld , TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension : SLF) today announced it has enhanced the step-up feature in its Secured Returns for Life Plus(SM) benefit, allowing customers to lock in their returns on an annual basis. The new, optional annual step-up benefit replaces the current three-year feature and helps investors lock in any account gains in their Sun Life Financial Masters(SM) variable annuity Variable Annuity An insurance contract in which, at the end of the accumulation stage, the insurance company guarantees a minimum payment. The remaining income payments can vary depending on the performance of the managed portfolio. (VA) product each year. The annual step-up is currently available at no additional charge to the client - the cost for Secured Returns for Life Plus remains unchanged at 50 basis points (0.50%) per year. "We are continuously looking for Looking for In the context of general equities, this describing a buy interest in which a dealer is asked to offer stock, often involving a capital commitment. Antithesis of in touch with. ways to enhance our product offerings and add value for our customers," said Mary Fay, Vice President and General Manager, Annuities of Sun Life Financial. "Offering a one-year step-up option on Secured Returns for Life Plus allows customers to capitalize on the market's performance without incurring increased fees while continuing other product features, including the Plus 5 Program that lets clients grow guarantees by up to 50% if they don't choose to take the income right away." Secured Returns for Life Plus is Sun Life's new, optional living benefit for VAs, which was launched in May of this year to help clients grow guaranteed retirement income in different market conditions. It offers the enhanced annual step-up, the Plus 5 Program and a fee refund if the Guaranteed Minimum Accumulation Benefit (GMAB GMAB Give Me A Break GMAB Guaranteed Minimum Accumulation Benefit GMAB Good Money After Bad ) is unused after 10 years. The annual step-up is available with both features of our combination rider, the GMAB and Guaranteed Minimum Withdrawal Benefit (GMWB GMWB Guaranteed Minimum Withdrawal Benefit ), and can begin on or after the account's first anniversary. Clients may either choose the date to enact the step-up, or schedule a fixed date to automatically step-up every year with the GMWB. Existing clients who have already purchased Secured Returns for Life Plus can also elect to upgrade to the new step-up. "At Sun Life, we want our variable annuity benefits to be more flexible to ensure they address the needs of pre-, recent and established retirees," said Fay. "The new annual step-up feature, combined with Secured Returns for Life Plus' additional living benefits, protects our clients at each retirement phase and gives them another way to increase the growth of their payments." About Sun Life Financial Sun Life Financial is a leading international financial services organization providing a diverse range of wealth accumulation and protection products and services to individuals and corporate customers. Chartered in 1865, Sun Life Financial and its partners today have operations in key markets worldwide, including Canada, the United States, the United Kingdom, Ireland, Hong Kong, the Philippines, Japan, Indonesia, India, China and Bermuda. As of June 30, 2006, The Sun Life Financial group of companies had total assets under management Assets Under Management (AUM) is a term used by financial services companies in the mutual fund and money management or investment management business to gauge how much money they are managing. of US$346.7 billion. Sun Life Financial Inc. trades on the Toronto (TSX), New York (NYSE) and Philippine (PSE PSE 1. pale soft exudative pork. 2. portosystemic encephalopathy. ) stock exchanges under ticker symbol SLF. Annuities are long-term investment vehicles designed for retirement purposes. Variable annuities are subject to market fluctuation, including the possible loss of principal. Purchasers should consider the investment objectives, risks, charges and expenses of an investment carefully before investing. The prospectus contains this and other important information. Prospectuses for both the variable annuity product and the underlying investment options are available at www.sunlife-usa.com. Please read all prospectuses carefully before investing or sending money. Sun Life Financial Masters annuities are available only from licensed financial professionals appointed with Sun Life Assurance Company of Canada (U.S.), Wellesley Hills, MA (in all states but New York), and with Sun Life Insurance and Annuity Company of New York, New York, NY (which is licensed in New York).. The contracts are distributed through Sun Life Financial Distributors, Inc. All three companies are members of the Sun Life Financial group of companies. SLPC SLPC St Louis Production Center (Weldon Springs, MO) SLPC Salt Lake Piping Club (Salt Lake City, Utah) SLPC Somatic Lung Progenitor Cells # 16385 09/06 |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion