The U.S. division of Sun Life Financial, Wellesley, Mass., has been named as the Top Variable Annuity Provider by the 2006 Study of Bank Brokerage & Retail Investment Services conducted by American Brokerage Consultants and American Banker. Sun Life was also ranked as the third best fixed annuity provider by the survey.
The survey (which also appears in the May issue of Bank Investment Consultant) reflects rankings of 18 major variable annuity providers by 115 bank program managers and 20 major fixed annuity providers by 108 bank program managers. Annuity providers were ranked in 10 different categories.
Sun Life received the highest ranking for variable annuities for all ten categories in the study, including:
Diversity of Products
Ease of Sales Processing
Correction of Errors
“Look” of Sales Literature
Utility of Sales Literature
Wholesalers Field Support