Sun Life Financial U.S. has introduced the SunDex ProVantage equity indexed annuity.[@@]
Sun Life Financial U.S., Wellesley Hills, Mass., will be issuing the annuity through its Sun Life Assurance Company of Canada (U.S.) affiliate. Sun Life Assurance will credit to holders of the annuity 100% of the average growth in the S&P 500 Index up to a preset threshold.
Sun Life Assurance, a unit of Sun Life Financial Inc., Toronto, also will credit 25% of the growth above the threshold rate as interest, according to Sun Life Financial U.S.
Interest earned by the end of each year will be locked in, according Sun Life Financial U.S.
The annuity comes with 1 year of membership in the PrivacyGuard credit monitoring and reporting service.