Effective December 30, 2011, this product and/or living benefit rider will no longer be available for sale

Protection for your beneficiaries

When you invest in an annuity, your loved ones enjoy protection as well. If something were to happen to you, your beneficiaries would get back at least what you’ve put into the contract (less any withdrawals). Sun Life Financial’s Masters^® variable annuities offer a basic and optional death benefit so you can choose the protection that’s right for you.

Basic death benefit

Included at no additional cost, our basic death benefit ensures your beneficiaries will receive the greater of:

total purchase payments (adjusted proportionately for withdrawals); or
the contract value.

Optional death benefit

If you’re age 74 or younger at the time you apply for one of our Masters variable annuities, you may also want to consider adding the Maximum Anniversary Account Value death benefit.¹ Available at an annual cost of 0.40%, this option ensures your beneficiaries will receive the greater of:

the basic death benefit (the adjusted total purchase payments is the minimum); or
the highest contract value on any contract anniversary before the covered person’s 81st birthday.² This highest contract value will be adjusted for any subsequent purchase payments and withdrawals made between that anniversary and the death benefit date.

Note: These benefits may not be available in all states, and certain age requirements must be met.

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Other annuities

The Masters I Share NY variable annuity is only available for sale with certain firms. Please check with your financial professional for availability. View the prospectus.

1. The optional death benefit is available only at the time of application and may not be cancelled if elected. The annual cost for the optional death benefit is stated as a percentage of the average net daily value of your annuity’s variable account assets and continues to be deducted for the lifetime of the contract.

2. The covered person generally is the owner of the variable annuity. However, if the owner of the contract is a non-natural person (e.g., a trust), the covered person is the annuitant.

All guarantees are based on the claims-paying ability of the issuing insurance company. Any withdrawal will reduce both the Basic and Optional Death Benefits. The reduction will be proportional to the reduction of the contract value and may be more or less than the actual amount of the withdrawal. All withdrawals of taxable amounts, including earnings, are taxable as ordinary income and, if taken prior to age 59½, may be subject to a 10% federal tax penalty. Early withdrawals will reduce the death benefit and cash surrender value.

You should carefully consider the investment objectives, risks, charges and expenses of an investment in a variable annuity. The prospectus contains this and other important information. Please read the prospectuses for the variable annuity product and the underlying investment options carefully before investing or sending money.

Sun Life Financial Masters variable annuities are issued by Sun Life Assurance Company of Canada (U.S.) (Wellesley Hills, MA) in all states except New York. In New York, the contracts are issued by Sun Life Insurance and Annuity Company of New York (New York, NY). Variable products are distributed through Sun Life Financial Distributors, Inc. All three companies are members of the Sun Life Financial group of companies.

NOT FDIC/NCUA INSURED - MAY LOSE VALUE - NO BANK/CREDIT UNION GUARANTEE -
NOT A DEPOSIT - NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY.

SLPC 22611 (11/10) (Exp. 11/12)

Sun Life Financial

Variable annuities