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What is it?
Sun Life Financial Masters Extra is a variable annuity designed to complement your long-term retirement strategy.
*Product name in New York is "Sun Life Financial Masters Extra NY."
Key benefits include:
- tax-deferred growth of any earnings (earnings are taxable when withdrawn),1
- a wide selection of investment options (may be limited if certain living benefits are elected),
- a choice of purchase payment interest options,
- a 7-year surrender charge period,
- protection for your named beneficiary, and
- a mortality expense and administration charge of 1.70% annually.
Click here for more key facts.
Extra credit for your money:
You may choose one of the following purchase payment interest options at the time of application:
- Option A: 2% upfront and every 5 years
- 2% of all first-year purchase payments; 2% of the contract value at every fifth-year contract anniversary
- Option B: 5%2
- For all purchase payments
Your purchase payment interest option is irrevocable. Option A is the default option if you do not select one at time of application.
Expenses for this annuity may be higher than for ones that do not offer an interest credit. Over time, the higher expenses could significantly reduce or even exceed the value of credits. Also, the contract may include surrender charges that apply for a longer period than those for a contract without an investment credit. Therefore, you should consider expenses, surrender charges, and other factors along with this annuity's features and enhancements to make sure this annuity meets your financial needs.
Special features available:
Where can I learn more?
Please refer to the prospectus, which offers more detailed information about the risks, charges, and expenses of an investment in a variable annuity. The prospectus contains this and other important information.
Please read all prospectuses for the variable annuity product and the underlying investment options carefully before investing or sending money. The annuity product or its features may not be available in all states.
1. The benefits of tax deferral in an annuity do not apply to contracts purchased as an Individual Retirement Annuity (IRA) or inside some other tax-qualified retirement plan because these plans already have tax-deferred status. Therefore, you should buy an annuity in such plans only if you value the lifetime income or beneficiary protection features that an annuity offers.
2. Purchase payment interest percentage may vary by state.
3. This optional benefit is available with Sun Life Financial Masters variable annuities for an additional cost and is subject to conditions, restrictions, and limitations. Please read the entire brochure and the Sun Life Financial Masters variable annuity prospectus for complete details.
4. Some broker/dealers may limit their clients from purchasing some optional benefits and products based upon age, and may limit participation in certain programs. Your individual representative will describe any such limitations.
Sun Life Financial, its distributors, and its respective representatives do not provide tax, accounting, or legal advice. Any tax statements contained herein are not intended or written to be used, and cannot be used, for the purpose of avoiding U.S. federal, state, or local tax penalties. Please consult your own independent advisor about any tax, accounting, or legal statements made herein.
Variable annuities are long-term investments intended for retirement planning. Variable annuity accumulation unit values fluctuate according to underlying economic and market conditions. It is possible that you could lose up to the entire principal amount invested at redemption.
Sun Life Financial Masters variable annuities are issued by Sun Life Assurance Company of Canada (U.S.) (Wellesley Hills, MA) in all states except New York. In New York, the contracts are issued by Sun Life Insurance and Annuity Company of New York (New York, NY). All guarantees are based on the claims-paying ability of the issuing insurance company. Variable products are distributed through Sun Life Financial Distributors, Inc. All three companies are members of the Sun Life Financial group of companies.
NOT FDIC/NCUA INSURED - MAY LOSE VALUE - NO BANK/CREDIT UNION GUARANTEE -
NOT A DEPOSIT - NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY
SLPC 20718 (08/09) (Exp. 02/11)
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