NU Online News Service, May 10, 2004, 2:36 p.m. EDT – Sun Life Assurance Company of Canada (U.S.), Wellesley Hills, Mass., is introducing a flexible-premium, deferred annuity with earnings linked to the performance of the Standard & Poor’s 500 Composite Stock Index.[@@]
The new SunDex 100 annuity offers 100% in the S&P 500 up to a threshold rate and a 25% participation rate on S&P 500 gains over the threshold rate.
Sun Life Assurance, a unit of Sun Life Financial Services of Canada Inc., Toronto, is issuing the annuity and backing its guarantees.
Buyers can choose 6-year, 9-year or 12-year plans, and Sun Life Assurance promises that it will pay 100% of the original premium, less withdrawals, at the end of the selected plan period.
Sun Life Financial is distributing the product through its MFS/Sun Life Financial Distributors Inc. and Independent Financial Marketing Group Inc. units.