Registered including locked-in funds: Special pricing may apply. Guarantee periods 0 - 40 years, subject to restrictions based on the source of premium Payment frequency Monthly, quarterly, semi-annually or annually Payment options Level payments. Payment amount remains the same throughout the payment period.
Registered including locked-in funds: Special pricing may apply. Guarantee periods 0 - 40 years, subject to restrictions based on the source of premium Payment frequency Monthly, quarterly, semi-annually or annually Payment options Level payments.
Payment amount remains the same throughout the payment period. Income increases yearly by a fixed percentage.
Not available for prescribed annuities. Reducing payment joint life annuities. Income reduces by a certain percentage selected at issue when one of the annuitants dies. Registered funds are subject to legislative restrictions.
Income from an annuity purchased with registered funds is fully taxable to the policyholder in the year it's received. Only a portion of the income from an annuity purchased with non-registered funds is taxable.
The amount of tax and when it is payable depends on the tax treatment the annuity qualifies for. Death benefit Death benefits depend on whether income has started, the source of premium and the guaranteed period chosen.
Surrender A payout annuity cannot be partially or fully surrendered and has no cash surrender value.
Essential Care Annuity If you have a life-shortening condition, we'll consider issuing an enhanced life annuity. This can result in a lower premium or higher income than for someone of the same age and gender without a health impairment. You must provide acceptable medical evidence and special underwriting rules will apply.
Start investing Make well-informed decisions with helpful advice. Talk to your advisor or find one near you - there is no cost to talk to an advisor.What is Life Insurance?
Life Insurance is a contract between the insurance company and the person who is insured. The contract states that the company has to pay a lump sum amount to the nominee, which is selected by the insured person when any kind of mishap takes place with the insured.
Sun Life Financial can help you build and protect your savings with investment products, life insurance, health insurance, and financial advice.
Get started with Sun Life. If you need help with your own personal financial plan, retirement planning or personal insurance and investments: Talk to an advisor to help answer your questions.
* For RPP funds, important information can be found in the “Transfers from a registered pension plan to a Sun Life Payout Annuity advisor guide” (Digital). Please reference this guide when submitting business with this. Plan Members; Online Advantage (Including dental ID card) For Providers.
Online Advantage; Sun Life Financial One Sun Life Executive Park Wellesley Hills, MA Telephone: SUN-LIFE () Typically, an investigator will respond within one business day after the information is provided. You may also leave an anonymous. What is an annuity? An annuity protects you from the risk of outliving your money and helps to cover basic expenses in retirement.
In exchange for a lump-sum premium, an insurance company – like Sun Life Financial – guarantees to pay you an income for life or as long as the annuity contract specifies.