Sun Survivorship Whole Life^sm 

Sun Survivorship Whole Life^sm (SSWL) is a participating life insurance policy that insures two lives and pays a death benefit at the second death, providing needed liquidity to pay estate settlement costs and taxes – and eliminating the forced sale of valuable estate assets, such as a home or business, by your heirs. An SSWL policy is designed to provide you with vital protection for your entire life – no matter how old or ill you may become. As a whole life policy, SSWL offers a guaranteed death benefit, premiums that are guaranteed never to increase and, above all, permanent protection for your family or business.

Your SSWL policy builds guaranteed cash value and participates in the company's dividend performance. You can take loans (subject to certain limits and possible tax consequences) from your SSWL policy's cash value to take advantage of financial opportunities or to meet unexpected expenses. Note: loans will decrease the death benefit of your policy and reduce its cash value.

Many life insurance policies mature at a specific time – often the insured's age 100 – and the policyowner automatically receives the policy value at that age as living proceeds. As such, with today's longer life expectancies, there is a risk of outliving your life insurance coverage. Subject to the terms of your SSWL policy, the maturity date of the full death benefit (net of any policy loans) can be extended beyond age 100 of the younger insured. (Since the income tax treatment of living proceeds and death benefits can differ, you should discuss the maturity extension feature with your tax advisor.)

SSWL is also available with a variety of riders which enable you to customize your policy to better meet your estate planning needs. Some of these riders include:

• Waiver of Stipulated Premium Amount (for Loss of Gift Tax Exclusion):  Under current tax laws, every individual can make annual gifts of $10,000 per person that, in most cases, are excluded from gift taxes. Spouses can combine their exclusions to give $20,000 per person. Since survivorship life insurance arrangements often include annual exclusion gifts to fund premium payments, this rider can be purchased to offset the gift tax exclusion that is lost upon the death of the first spouse. Within limits, you can select a stipulated amount of premium to be waived upon the first death and the waiver will continue to the end of the rider's benefit period.
• Estate Preservation Rider: The Estate Preservation rider provides an additional level death benefit if both you and your spouse die within the first four policy years. This additional benefit is intended to reduce the potential impact of the federal estate tax "three-year rule." The three-year rule taxes policy death benefits if the second spouse to die had certain ownership rights in the policy within three years of his or her death. In states where this rider is available, it is automatically issued with SSWL at no additional premium cost for those who meet insurability qualifications.
• Policy Split Option Rider:  This rider allows you to split your SSWL policy into two single life policies if you and your spouse should divorce or if there are significant changes in the tax law.

Note that not all products, benefits and riders are available in all states.

This is a general description of Sun Life Assurance Company of Canada’s individual/joint and last survivor life insurance products, including Sun Permanent Life Plus (policy form SPL-1996-0 and state variations) and Sun Survivorship Whole Life (policy form #LS94-1000-0 and state variations). Your specific policy has exclusions, limitations and terms under which the policy may be continued in force or discontinued. For costs and complete details of specific policy coverage, please contact a Sun Life representative.

09/00 SLPC 6271

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