The Retirement Income Solutions Division of the U.S. business group of Sun Life Financial Inc. (NYSE: SLF, TSX: SLF), Wellesley, Mass., has launched Sun Life Solutions variable annuity and the Sun Income Vision living benefit rider.
The new VA offers a choice of investment options withdrawal charge periods and death benefits to meet a range of income, liquidity, and estate planning needs.
The product’s optional living benefit rider, available for an additional annual fee, lets investors lock in a benefit base used to calculate income. The benefit base can annually increase with market gains, but won’t decrease due to market declines, Sun Life says.
Features of Sun Life Solutions include:
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Tax-deferred growth on investment earnings.
More than 20 money managers to choose from.
Annual mortality and expense charges as low as 1.00%
Death benefit options at various price points.
Features of Sun Income Vision include:
Guaranteed lifetime income with living benefit.