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Sun Life Financial Keyport Value
OFFERED BY SUN LIFE ASSURANCE COMPANY OF CANADA (U.S.)
Facts At-a-Glance
Choice of plans: Choose a 5-, 6-, or 7-year plan and a choice of initial rate terms for each premium payment, with renewals thereafter. Premium payments may be split between available terms within the same plan.
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Plan |
Choice of initial rate terms |
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5-year plan |
1, 3 & 5 year options |
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6-year plan |
1, 3, 5 & 6 year options |
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7-year plan |
1, 3, 5, 6, & 7 year options |
| All terms may not be available. The six- and seven-year terms are unavailable to contract owners age 86 or older at time of issue. If you choose to split your premium among the available terms, a minimum of 10% of premium must be allocated to each. |
Premium guarantee by Sun Life Assurance Company of Canada (U.S.): 100% at all times for all ages on your total premium payments, less withdrawals.
Guaranteed minimum interest: 1.5% over the life of your annuity, regardless of future economic conditions.
| Guaranteed by the financial strength of Sun Life Assurance Company of Canada (U.S.).
The guaranteed renewal rate will be at least 1.5%. The surrender value will not be less than the minimum value required by your state. |
Annualized bonus options: Choice of an upfront bonus on each premium payment for the first 12 months, or annual 'stepped-up' interest increase dependent upon the term you choose, beginning in second year.
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If you choose to split your initial premium among different terms, you must choose the same bonus option for each term. Stepped-up option is only available for 5-, 6-, and 7-year allocations; 1- and 3-year allocations receive the first-year bonus. Bonus interest does not apply to renewals. |
Subsequent payments will receive the bonus rate in effect at the time of the subsequent payment.
Additional 0.15% bonus interest credited when the premium or accumulated value reaches $50,000.
| If a payment or withdrawal causes the total account value to equal or become higher or lower than $50,000, the current additional interest rate will be changed to the appropriate percentage. |
Access to money: 10% of your annuity's value at the time of first withdrawal, less prior partial withdrawals in the same contract year.
Withdrawals of taxable amounts are subject to income tax and may be subject to a 10% IRS penalty tax if withdrawn before age 591⁄2. Surrender charges apply to each purchase payment value. Length of surrender charge period varies by plan. A market value adjustment may apply. Withdrawals that lower total Accumulated Value may decrease the current additional interest rate.
Minimum annuity value after withdrawal must be $2,000. The minimum manual withdrawal amount is $250. The minimum systematic withdrawal amount per period is $100. Subsequent withdrawals that exceed this 10% of annuity value in a calendar year may incur a surrender charge and/or a market value adjustment. |
Retirement income options: Life Income, Period Certain, Life with Period Certain, Joint and Survivor.
Medical waiver: Special surrender charge waivers may apply if primary owner is confined to a nursing facility or hospital for at least 45 days over a 60 consecutive day period.
Death benefit: Greater of 100% of the accumulated value of the annuity or cash surrender value.
Maximum issue age: 90 (for non-qualified 5-year plan only); 85 (for 6- and 7-year plans and qualified plans).
Minimum premium payment: $5,000 initial nonqualified plans, $4,000 for qualified plans; $100 subsequent. If premium is split between terms, a minimum of 10% of premium must be allocated to each term.
Fees: No initial sales charge and no annual maintenance fee.
Surrender charges: Declining surrender charges on each payment for withdrawals exceeding withdrawal privileges.
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Plan |
Surrender Charge Schedule |
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5-year plan |
7%, 6%, 5%, 4%, 3% |
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6-year plan |
7%, 6%, 5%, 4%, 3%, 2% |
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7-year plan |
7%, 6%, 5%, 4%, 3%, 2%, 1% |
Market Value Adjustment: May increase or decrease amount paid upon partial withdrawal, surrender, or annuitization.
This page reflects our understanding of the current federal income tax laws and contains information of a general nature. We suggest you consult your own tax advisor as to the applicability of this information in your own situation. Sun Life Financial Keyport Value flexible premium deferred annuity [form# FPDA (7)/MVA] is issued by Sun Life Assurance Company of Canada (U.S.), Wellesley Hills, MA 02481. Not available in NY.
This policy has limitations. For costs and complete details of coverage, ask an investment professional who is also and insurance-licensed agent.
Annuities are long-term vehicles designed for retirement purposes.
NOT FDIC/NCUA INSURED -MAY LOSE VALUE- NO BANK/CREDIT UNION GUARANTEE - NOT A DEPOSIT NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY
SLPC14170(04/05)
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