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LIFE INSURANCE | Participating whole life

Sun Par Protector & Sun Par AccumulatorADVISOR GUIDE

What’s inside:

productinformation

dividendoptions

administrativeinformation

optionalbenefits

ADVISOR USE ONLY

Life’s brighter under the sun

Introduction . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3

Products at a glance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5

Guaranteed premium payment options, issue ages, and coverage options . . . . . . . . . . . . . . . . . . . . 8

Premiums . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10

Dividend options . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11

Premium offset . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .15

Plus premium benefit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17

Cash values . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19

Taxation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21

Administrative information . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 23

Additional non-par benefits . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25

2 YOUR GUIDE TO SUN PAR PROTECTOR & SUN PAR ACCUMULATOR

TABLE OF CONTENTS

Sun Life Financial participating permanent life insuranceSun Par ProtectorandSun Par Accumulatorarepowerfulparticipating(par)permanentlifeinsuranceproductsthat

protectCanadiansandcanhelpthemreachtheirlong-termgoals.

Youcanusethisguidetohelpyouunderstandthebenefitsandfeaturesoftheseproducts.It’sintendedtoprovide

anin-depthlookattheproducts,dividendoptionsandoptionalbenefitsavailablewithSun Par Protectorand

Sun Par Accumulator.Forcompletedetails,includingtermsandconditions,pleaserefertothesamplepolicypages

whichcanbefoundontheadvisorwebsiteyouusewithSunLifeFinancial.

Lifetime insurance protection

Clientscanhavepeaceofmindknowingthatmoneywillbeavailabletoprovidefortheirfamily,continuetheir

businessorensuretheirassetstransferintacttothenextgeneration.Participatingpermanentlifeinsuranceprovidesa

combinationofpermanentlifeinsuranceprotectionandanopportunityfortax-preferredinvestmentgrowth.Thebase

insuranceprotectionisguaranteedforlife,aslongasthepremiumsarepaidwhentheyaredue.

An investment for the future

WithSun Par ProtectorandSun Par Accumulator,aclient’spolicymaybecreditedwithpolicyholderdividends,

determinedbySunLifeFinancial’sBoardofDirectors.Withthedividendoptionselected,clientscanchoosetobuy

additionalcoverage,receiveacashpayment,usethemtoreducetheirannualpremiumorleavethemondepositwith

SunLifeFinancial–thechoiceistheirs.

Bothproductshavecashvaluesthatbuildupovertimeonatax-preferredbasis.Clientswillbeabletoaccessthiscash

whenevertheyneedit.Theycanalsoborrowagainstthecashvalueoruseittohelppaytheirpremiums.Andifthey

everdecidetocanceltheirpolicy,we’llpaythetotalcashvalueofthepolicyatthattime.

Customize clients’ solutions

Youcanhelpaclientcustom-designtheirSun Par ProtectororSun Par Accumulatorparticipatingpolicy.Clientscan

choosefromawiderangeoffeaturesandoptions.Bothproductscanbetailoredtomeetclients’uniqueneedswith

innovativeandcost-effectivewaystomaximizeprotectionfortheirfamily,buildtax-preferredcashvaluesandincrease

thedeathbenefittokeeppacewithinflation.Dependingonthedividendoptionchosen,aclient’spolicycangrowas

theirneedschange.WithSunLifeFinancial,clientshavetheconfidenceofknowingtheirprotectionmeetstheirneeds

todayandinthefuture.

YOUR GUIDE TO SUN PAR PROTECTOR & SUN PAR ACCUMULATOR 3

INTRODUCTION

Sun Par Protectorprovideshigherlong-term

valuesinbothtotalcashvalueandtotaldeath

benefitthanSun Par Accumulator.With

Sun Par Protector,clientscanchoosefromthree

premiumpaymentoptionsandfivedividend

options.Sun Par Protectorissuitedforaffluent

clientsinterestedinensuringtheirestatetransfers

intacttotheirbeneficiaries,orclientswhoare

lookingfortheflexibilitytoaccesstheirpolicy’s

cashvaluestosupplementtheirretirementincome.

Sun Par Accumulatorprovideshighercashvalues

intheearlyyearsthanSun Par Protector.With

Sun Par Accumulator,clientscanchoosefrom

twopremiumpaymentoptionsandfourdividend

options.Sun Par Accumulatorissuitedforaffluent

clientsinterestedinaccessingcashvaluesinthe

earlyyearsoftheirpolicytobridgearetirement

incomegap,whileensuringthereisadeathbenefit

inplacetoprotecttheirestate.

SUN PAR PROTECTOR SUN PAR ACCUMULATOR


Clients can participate in their brighter future with policyholder dividends

WhenaclientpurchasesaparticipatinglifeinsurancepolicyfromSunLifeFinancial,theyhavetheopportunityto

participateinanypolicyholderdividends.Alongwiththeopportunitytobecreditedwithdividends,theirpolicycomes

withguaranteedlifetimeprotectionandcashvalues,forwhichtheypayaguaranteedpremium.Thepremiumandother

basicvaluesaredeterminedusinglong-termconservativeassumptionsfordeathclaims,investmentreturns,expenses

(includingtaxes),lapsesandotherfactors.

Dividendsmaybecreditedtoaclient’spolicywhentheexperienceintheSunLifeParticipatingAccountisbetterthanthe

assumptionswemadeforfactorssuchasinvestmentreturns,mortalityandexpensestosupporttheguaranteedvalues

intheirpolicy.IftheBoardofDirectorsdeterminesthereisasurplus,aportionofthismaybecreditedtothepolicyin

theformofdividends.Theamountavailablefordividendswillincreaseordecreasedependinghowtheactualexperience

differsfromwhatweassumed.Theamountavailableisalsodependentonanumberofotherfactorssuchas:

theneedtokeepearningsassurplusto:

- supportfinancialsecurityandstabilityoftheparticipatingaccount

- financenewparticipatingbusinessgrowth

- smoothfluctuationsinexperience(investmentreturns,mortalityandexpenses(includingtaxes),lapsesandotherfactors)

otherpracticalconsiderationsandlimits

legalrequirementsandindustrypractices

ItisimportanttonotethattheInsuranceCompaniesActofCanadacontainsanumberofprovisionsthatwillbefollowed

inmanagingtheparticipatingaccount.

Advantages of participating life insurance from Sun Life Financial

SunLifeFinancialhasmaintainedarespectedandtrustedpositioninthefinancialservicesindustryforover140years.

Independentpartieshaverecognizedourorganizationaroundtheworldforourstrength,sustainabilityandprudent

financialmanagement.Weissuedourfirstparticipatinglifeinsurancepolicyin1871andcurrentlyhaveover1.6million

participatinglifepolicyholders.Wearealsobackedbyover$16billioninassetsheldintheSunLifeParticipatingAccount.

Thesewell-establishedandwell-managedparaccountsarebasedonSunLifeFinancial’seffectivemanagementstyle.

Thisstyleiscriticaltoouroverallprofitability,competitivemarketpositioningandlong-termfinancialviability.


PRODUCTS AT A GLANCE

Sun Par Protector Sun Par Accumulator

Target markets Maybesuitableforclientslookingfor:• affordablepermanentparticipatingcoverage

thatprovidesguaranteeswithopportunitiesforgrowthandflexibility

• estateprotection• anopportunityforlong-term,tax-preferredcash

valuegrowth• waystoenhancetheircashflowduringtheir

retirementyears

Maybesuitableforclientslookingfor:• earlycashvaluescoupledwiththebenefits

oflong-termgrowth• protectionfortheirbusinesswiththeadded

benefitofhighearlycashvalues,coupledwithpremiumflexibility

Maybeidealforpre-retireeslookingfor:• estateprotectioncombinedwithcashvalue

theycanaccessthroughouttheirlifetime

Guaranteed premium payment options and issue ages

• Lifepay• Paytoage65• 20pay

• 0-80• 0-44• 0-65

• Lifepay• 20pay

• 18-80• 18-65

Coverage options • Singlelife• Jointfirst-to-die1

• Jointlast-to-die,1premiumstothelastdeath• Jointlast-to-die,1premiumstothefirstdeath

Premium bands • $50,000-$99,999• $100,000-$249,999• $250,000-$499,999• $500,000-$999,999• $1,000,000-$10,000,0002

• $250,000-$499,999• $500,000-$999,999• $1,000,000-$10,000,0002

Underwriting classes • Non-smoker• Smoker

Dividend options • Paid-upadditionalinsurance• Annualpremiumreduction• Dividendsondeposit• Cashpayment• Enhancedinsurance -10-yearguarantee -lifetimeguarantee

• Paid-upadditionalinsurance• Annualpremiumreduction• Dividendsondeposit• Cashpayment

1Bothlivesmustbe18yearsofageorolder.2Specialquotesareavailableforcasesover$10,000,000.

FEATURES



Guaranteed cash values • Typicallybeginattheendofyearfive • Typicallybeginattheendofyearone

Policy loans • Upto100%ofthetotalcashvalue,lessoneyear’sinterest,lessanyexistingindebtednessmaybeborrowed

Non forfeiture options • Automaticpremiumloanavailable,followingthegraceperiod• Reducedpaid-uplifeinsurance

Policy fee • $50peryearor$4.50permonth

Payment methods • Monthlypre-authorizedchequeplan(PAC)• Annualpayments

BENEFITSLiving benefit • Iftheinsuredpersonisdiagnosedwithaterminalillness,anapplicationcanbemadeforalumpsumof50%

ofthedeathbenefit,toamaximumof$100,000(non-contractual).

Survivor and automatic survivor benefit

• Availableonjointfirst-to-diepolicieswithanequivalentsingleagelessthan65• Offersthesurvivinginsured31daystoapplyforanewpermanentlifeinsurancepolicy,withoutproviding

evidenceofinsurability.

OPTIONAL BENEFITSPlus premium • Availablewithallguaranteedpremium

paymentoptions: -Lifepay -Paytoage65 -20pay• Availablewiththefollowingdividendoptions: -paid-upadditionalinsurance -enhancedinsurance

• AvailablewiththeLifepayguaranteedpremiumpaymentoption

• Availablewiththepaid-upadditionalinsurancedividendoption

Additional non-par benefits

• Terminsurance:35-,10-,and20-yearrenewableconvertibleterms

• Childterminsurance• Accidentaldeathbenefit• Totaldisability• Totaldisability–juvenile -Automaticallyincludedwhenthebaseinsuredis

betweentheagesof0to17asafuturebenefit,withpremiumsandcoveragebeginningattheinsured’sage21

• Ownerwaiverondisability• Ownerwaiverondeath• Guaranteedinsurabilitybenefit

• Terminsurance:5-,10-,and20-yearrenewableconvertibleterms

• Childterminsurance• Accidentaldeathbenefit• Totaldisability• Ownerwaiverondisability• Ownerwaiverondeath• Guaranteedinsurabilitybenefit

3Theterminsurancebenefitisnotavailableifthebaseinsuredislessthan18yearsofage.

FEATURES continued


Sun Par Protector and Sun Par Accumulator

BothSun Par ProtectorandSun Par Accumulatorofferavarietyofcoverageoptionsandguaranteedpremium

paymentperiods.Thisgivesyoutheflexibilityyouneedinapermanentparticipatinginsuranceproducttomeeteach

client’suniqueneeds.

Life insurance protection

Aspermanentparticipatinglifeinsuranceproducts,Sun Par ProtectorandSun Par Accumulatorofferclientsa

combinationofpermanentparticipatinglifeinsurancewithtax-preferredcashaccumulationopportunities.They

provideclientswithinsuranceprotectionforlifeaslongasalloftheguaranteedpremiumsarepaidwhendue.

Inaddition,bothproductsprovideclientswithaguaranteeddeathbenefitaswellasaguaranteedcashvalue.Thelife

insuranceprotectionprovidedbySun Par ProtectorandSun Par Accumulatorisidealforclientswhoarelookingfor

stability,flexibilityandtheopportunitytoearnpolicyholderdividends.

TIP

Sun Par Protectormaybeidealforclientswhowantlong-termgrowth,coupledwithguaranteesandthe

opportunitytoparticipateintheirbrighterfuturethroughthebenefitsofaparticipatinglifeinsurancepolicy.

Sun Par Accumulatormaybeidealforbusinessownerswhoarelookingforinsuranceprotectionforkey

executives,withtheflexibilitytomeetchangingbusinessneeds.

Sun Par Protectorclientscanchoosetohave

alifeinsuranceplanmadeupofallbasicwhole

lifeinsurancetoprovidelong-termprotection.

Dependingonthedividendoptiontheychoose,

theirlifeinsuranceprotectioncangrowastheir

needsgrow.Or,ifclientsarelookingformore

affordableprotection,theycanchooseamixof

basicandenhancedinsurance,availablewiththe

enhancedinsurancedividendoption.

Sun Par Accumulatorprovidesclientswiththe

opportunitytohavealifeinsuranceplanthat

provideshighearlycashvaluesandinsurance

protectionfortheirmoreimmediateneeds.

Thelifeinsuranceprotectiongrowsquicklyinthe

earlyyearsandslowsoverthelifeofthepolicy,

whilestillprovidingclientswithaconsiderable

estatebenefitinthefuture.



Theissueagesarebasedontheinsuredperson’sinsuranceage,ortheirageattheirnearestbirthday.Forexample,ifyour

clientis48yearsand7months,theirinsuranceagewillbe49yearsold.

Life pay Premiumsarepayabletoage100

Pay to age 65 (available with Sun Par Protector only) Premiumsarepayabletoage65,afterwhichpremiumsarenolongerdueandtheclient’sbaseinsuranceamountis

fullypaid-up

20 pay Premiumsarepayablefor20years;afterthat,nopremiumsaredueandtheclient’sbaseinsuranceamountisfully

paid-up

GUARANTEED PREMIUM PAYMENT OPTIONS, ISSUE AGES, AND COVERAGE OPTIONS

4Onjointlifepolicies,bothinsuredpeoplemustbewithintheequivalentsingleage(ESA)rangeforthepremiumpaymentoptionselected.

Theequivalent single age (ESA)istheageweusetodeterminethepremiumsforjointinsurancecoverage.ESAisbasedontheage,smokingstatus,andgenderofbothinsuredpersonsattheeffectivedateofthepolicy.

• Singlelife:0-65• Jointfirst-to-die:418-65• Jointlast-to-die:418-65

• Singlelife:18-65• Jointfirst-to-die:418-65• Jointlast-to-die:418-65


- Singlelife:0-44- Jointfirst-to-die:418-44- Jointlast-to-die:418-44

SUN PAR PROTECTOR


Singlelife:0-80 Singlelife:18-80

Jointfirst-to-die:418-80 Jointfirst-to-die:418-80

Jointlast-to-die:418-80 Jointlast-to-die:418-80


Coverage optionsSun Par ProtectorandSun Par Accumulatoroffersingleandjointcoverageoptions.

Single life Coverageisbasedononeinsuredperson

Thedeathbenefitispayableonthedeathofthatinsuredperson

Joint first-to-die

Coverageisbasedontwoinsuredpersons

TheissueagesarebasedontheESA,howevereachoftheinsuredpersonsunderthiscoverage

optionmustmeettheminimumandmaximumagesapplicabletotheguaranteedpremium

paymentoptionselected

Thedeathbenefitispayableonthedeathofthefirstinsured

Joint last-to-die (premiums to the last death) Coverageisbasedontwoinsuredpersons

IssueagesarebasedontheESA,howevereachoftheinsuredpersonsunderthiscoverageoption

mustmeettheminimumandmaximumagesapplicabletotheguaranteedpremiumpayment

optionselected

Premiumsarepayabletotheearlieroftheguaranteedpremiumpaymentoptiondurationorthe

lastinsuredperson’sdeath

Thedeathbenefitispayableonthelastdeathofthelastinsureds

Joint last-to-die (premiums to the first death) Coverageisbasedontwoinsuredpersons

IssueagesarebasedontheESAandbothinsuredpersonsmustbebetweentheagesof18-80for

Lifepayand18-65for20pay

Premiumsarepayabletothefirstdeathoftheinsuredpersonandthedeathbenefitispayableon

thelastdeathoftheinsuredperson

TIP

Jointfirst-to-dieissuitableforclientswhoneedtocoverfinancialobligationsonthe

firstdeath.Also,smallbusinessclientscanbenefitfromthissolutionforfundinga

buy-sellagreementorevenkeypersoninsuranceinapartnership.

TIP

Thismaybeidealforclientswhoneedtocoverfinancialobligationsthatoccuronthesecond

death,makingthisadesirablesolutionforestatepreservation.

TIP

Forseniorclients,premiumspayabletothefirstdeathensurestheinsurancewillremainintact,

whilereducingthefinancialburdenonthesurvivingspouse.

Thesurvivorandautomatic

survivorbenefitsare

automaticallyincludedinall

jointfirst-to-diepolicieswhere

theESAislessthanage65.

Afteroneoftheinsuredpersons

dies,thedeathbenefitand

anyenhancedinsuranceamount

ispaidtothebeneficiary.

Thesurvivinginsuredperson

has31daystoapplyforanew

permanentlifeinsurancepolicy

withoutevidenceofinsurability.

Ifthefirstinsuredpersondies

beforethepolicyanniversary

nearestthe65thbirthdayofthe

oldestinsured,SunLifeFinancial

maypayanadditionalamount.

Ifthesurvivinginsuredperson

dieswithin31daysofthefirst

insuredpersonandfailedto

applyforanewpolicy,wemay

paythebeneficiaryanadditional

amountequaltothebasic

insurancedeathbenefitandany

enhancedinsuranceamount.

Did you know?


PREMIUMS

Clientsmaymakemonthlypaymentsusingthepre-authorizedcheque(PAC)optionorbebilledannually.Foreachpolicy,the

basicratewillvarybytheplantype,rateband,issueage,riskclass(non-smoker/smoker),genderandpremiumpaymentoption.

ThepremiumsforthebasicSun Par ProtectororSun Par Accumulatorcoveragesareguaranteedforthedurationof

thepremiumpaymentperiodselected.Ifaclientpaysmorethanisrequiredforthepolicy,weholdtheexcessinthe

withdrawablepremiumfund.

AnycashheldwithinthewithdrawablepremiumfundearnsinterestdailyataratesetbySunLifeFinancialbasedon

short-terminterestrates.Inaddition,theinterestearnedinthewithdrawablepremiumfundissubjecttotaxation.Clients

canwithdrawmoneyfromthewithdrawablepremiumfundatanytime,subjecttoourcurrentadministrativerules.

Ifapremiumisnotpaidwhenitisdue,wewillfirstwithdrawtheunpaidamountfromthewithdrawablepremiumfund.

Ifthereisnotenoughmoneyinthewithdrawablepremiumfundtocovertheunpaidpremium,thepremiumwillbepaid

usinganautomaticpremiumloan.

Theautomaticpremiumloanisonlyavailabletopayunpaidpremiumsandwewillinitiatethis.Thisloanisborrowed

againstthecashvalueofthepolicytopaythepremiumsowingandinterestischargeddaily,andcompoundedannually.

Policy lapse

Thepolicywilllapseifthepremiumisnotpaidwhendueandtheindebtedness,dueeithertoloansundertheautomatic

premiumloanprovisionorinitiatedbytheclient,isgreaterthanthenetcashvalue.Clientswillneedtomakeapaymentto

preventthepolicyfromlapsing.

Premium Bands

THINGS TO REMEMBER

Ifaclienthasscheduledpluspremiumbenefitpayments,thesepaymentswillalsobecoveredbytheautomatic

premiumloan(APL)toensurethepluspremiumbenefitpaymentsarepaid.Ifaclientdoesnotwanttheplus

premiumbenefitpaymentstobepaidbyautomaticpremiumloan,theymustnotifySunLifeFinancialinwritingto

stopthepaymentbeingmadebyAPL.

Band Sun Par Protector Sun Par Accumulator

1 $50,000-$99,999 N/A

2 $100,000-$249,999 N/A

3 $250,000-$499,999 $250,000-$499,999

4 $500,000-$999,999 $500,000-$999,999

5 $1,000,000-$10,000,0005 $1,000,000-$10,000,0005

5Specialquotesareavailableforinsuranceamountsover$10,000,000.


DIVIDEND OPTIONS

OneoftheattractivefeaturesavailablewithSun Par ProtectorandSun Par Accumulatoris

theopportunitytoearnpolicyholderdividends.Thisisauniquefeature,availableonlythrough

participatinglifeinsurancepolicies.WithSun Par ProtectorandSun Par Accumulator,

policyholdershavetheopportunitytoearndividendsonthebaseinsuranceportionoftheirplan.

Sun Par Protectoroffersfiveattractivedividendoptionsforclientstochoosefrombasedon

theiruniquegoalsforprotectionnowandinthefuture.Sun Par Accumulatoroffersclientsaccess

toallofthedividendoptionsexceptforenhancedinsurance.Policyholderdividendsarepaid

annually,onthepolicyanniversarydate,andarenotguaranteed.

Paid-up additional insurance

Anydividendscreditedtothepolicyareusedtopurchasepaid-upadditionalinsurance.This

paid-upadditionalinsuranceisaddedtothebaseinsuranceamount,creatinganotherlayerof

permanentprotection.Thislayer,aswellasthebaseinsuranceamountisthebasisforearning

dividends,resultinginacompoundingeffectofdividendearningpotential.Thepaid-upadditional

insurancehasacashvaluewhichaccumulatesovertimeonatax-preferredbasis.

Ifclientsselectoneoftheotherfourdividendoptionswhentheyapplyforinsurance,andwish

tochangetopaid-upadditionalinsuranceinthefuture,theywillneedtoprovideevidenceof

insurabilitywhentherequestismade.

Enhanced insurance (available with Sun Par Protector only)

Thisdividendoptionenablesclientstoestablishapermanentlifeinsurancepolicyinacost-effective

manner.Withthisoption,oneachpolicyanniversaryanypolicyholderdividendcreditedisused

topurchaseacombination(thatwedetermine)ofyearlyterminsuranceandpaid-upadditional

insurance.Thiscombinedamountofinsuranceisequaltotheenhancedinsuranceamountsetout

intheclient’spolicy.Anypaid-upadditionalinsurancepurchasedisaddedtotheexistingpaid-up

additionalinsurance.

Base insurance amount

* The total death benefit is not guaranteed.

Total death benefit*

Time

Paid-up additional insurance

Paid-up additionalinsurance

Thisdividendoptionis

appropriateforclientswho

wantaguaranteedpermanent

insuranceplanwithanincreasing

deathbenefit.Thepaid-up

additionalinsurance,purchased

bypolicyholderdividends,

providesanincreaseinthedeath

benefitwithouttheneedto

provideadditionalevidence

ofinsurabilityoradditional

out-of-pocketcosts.


Dividend crossover point

Ateachpolicyanniversary,wereplaceaportionoftheyearlyterminsurancewithpermanentpaid-upadditional

insurance.Thedividendcrossoverpointoccursifandwhenalloftheyearlyterminsurancehasbeenreplacedby

paid-upadditionalinsurance.Oncethepolicyhasreachedthispoint,thedividendoptionautomaticallyswitches

topaid-upadditionalinsurance.Anyfuturepolicyholderdividendscreditedtothepolicyareusedtopurchase

paid-upadditionalinsurance.Thisresultsinhighertotalcashvaluesandtotaldeathbenefit.

Enhanced insurance guarantees

Clientscanchoosebetweentwotypesofguaranteeswiththisdividendoption:lifetimeor10-yearguarantee.

Lifetime guarantee

Withthelifetimeguarantee,theenhancedinsuranceamountisguaranteedforthelifeofthepolicyregardless

ofthepolicyholderdividendperformance.Inthefuture,ifthepolicyholderdividendscreditedtothepolicy

areinsufficienttopayfortheyearlyterminsurancerequired,wewillsurrenderanypreviouslypurchasedpaid-

upadditionalinsuranceforitscashvaluetomakeuptheamountowing.Thisensuresthatthetotaldeathbenefit

remainsintact.Evenifthecombinationofthedividendcreditedandcashvaluefromsurrenderedpaid-up

additionalinsuranceisinsufficienttopayforthecostoftheyearlyterminsurance,thelifetimeguaranteewill

ensurethetotaldeathbenefitremainsintact.

Thelifetimeguaranteeprovidesclientswiththeopportunityforagreaterinitialtotaldeathbenefit,rather

thanpurchasingallbasicinsurance.Thiscanprovidepeaceofmindbecausetheirtotaldeathbenefitis

guaranteedforlife.

10-year guarantee

Withthe10-yearguarantee,theenhancedinsuranceamountisguaranteedforthefirst10yearsofthepolicy

regardlessofpossiblechangestothedividendscale.Ifthepolicyholderdividendscreditedtothepolicyare

insufficienttopayfortheyearlyterminsurancerequired,wewillsurrenderanypreviouslypurchasedpaid-up

additionalinsuranceforitscashvaluetomakeuptheamountowing.Atanytimeduringthefirst10years,if

thecombinationofsurrenderedpaid-upadditionalinsuranceandpolicyholderdividendscan’tcoverthecost

oftheyearlyterminsurance,weguaranteethetotaldeathbenefitwillremainintactduringthattime.

Thecombinationoftheyearlyterminsuranceandanypaid-upadditionalinsurancepurchasedbypolicyholderdividendsiscalled enhanced insurance.

Yearly term

Dividend crossover point


Time

Paid-up additionalinsurance




Startingonthe11thpolicyanniversary,ifthecombinationofpolicyholderdividendsandsurrendered

paid-upadditionalinsuranceisnotsufficienttocoverthecostofyearlyterminsurance,wewill

reducetheremainingyearlyterminsurancetotheamountthatmaybepurchasedatthattime.

Tomaintaintheoriginalcoverage,thepolicyownermaymakeadditionalpaymentsintheform

ofpluspremiumbenefitpaymentswhichwedetermineareenoughtopreventareductiontothe

enhancedinsuranceamountfromoccurring.Underthesecircumstances,theseadditionalpayments

willnotbesubjecttoadditionalevidenceofinsurability.However,thepolicyownerwillbelimited

topayingwhatisneededtomaintaintheyearlyterminsurance.

Conversion of the yearly term insurance

Withtheenhancedinsurancedividendoption,clientshavetheopportunitytoconverttheyearly

terminsurancetoapermanentpolicywithoutprovidingnewevidenceofinsurability.Clientscan

choosetoconverttheyearlyterminsuranceportionoftheenhancedinsurancedividendoption,

uptothepolicyanniversarynearesttheinsuredperson’s70thbirthday(orforjointlifepolicies’

ESA70).Oncethepolicyownerhasdecidedtoconverttheyearlyterminsurancetoanew

policy,thedividendoptionontheoriginalpolicywillautomaticallychangetopaid-upadditional

insuranceandanysubsequentpolicyholderdividendscreditedtothepolicywillbeusedto

purchasepaid-upadditionalinsurance.

THINGS TO REMEMBER

Theyearlyterminsurancecanonlybeconvertedtoapolicyofferingthesamecoveragetype.

Forexample,ifaSun Par Protectorpolicywasajointfirst-to-diepolicy,thenthepolicythat

theyearlyterminsuranceisconvertedtomustbeajointfirst-to-diepolicyonthesamelives.

Inaddition,conversionsarenotpermittedwhilepremiumsarebeingwaivedunderthetotal

disabilitybenefit.

TIP

Forclientswhowantacost-effectivewaytomaximizethepurchaseofpermanent

participatinglifeinsurance,theenhancedinsurancedividendoptionmaybetheright

choice.Withthisoption,clientscanenjoythebenefitsofaparticipatinglifeinsurance

productwithahigherdeathbenefitatissue.

THINGS TO REMEMBER

Oncetheenhancedinsurance

amountisdecreased,clients

cannotincreaseitinthefuture.

Themaximumenhanced

insuranceamountdependson:

issueage

smokingstatus

coveragetype

enhancedguaranteeperiod

elected(lifetimeor10-year)

substandardratings


Annual premium reduction

Thisdividendoptioncanprovideclientswithacost-effectivewaytopaytheirpremiums.Weuseanypolicyholder

dividendscreditedtothepolicytoreducethepremiumforthenextpolicyyear.Ifinthefuturethepolicyholder

dividendsexceedtheannualpremium,thentheexcessisheldinthewithdrawablepremiumfund.Thisdividend

optionisonlyavailableiftheclientispayingtheirpremiumsonanannualbasis.

Dividends on deposit

Withthisdividendoption,anypolicyholderdividendscreditedtothepolicyareautomaticallydepositedintoan

accountthatissimilartoasavingsaccountwithSunLifeFinancial.Thepolicyholderdividendsinthisaccountearn

interestdailyataratewedetermine.Theinterestiscompoundedannuallyandclientshaveaccesstothesedividends

atanytime.Anyinterestearnedistaxable.

Whenthepolicyownerdies,anyremainingdividendsondepositarepaidtotheinsured’sbeneficiaryaspartofthe

deathbenefit.

Cash payment

Thisoptiongivesclientstheopportunitytoreceivetheirannualdividendsincash.

TIP

Thisdividendoptionmayappealtoclientswhoarelookingforalevelpermanentdeathbenefit,aswellasthe

opportunitytoputawayanypolicyholderdividendsinanaccountthatearnscompetitiveinterestrates.

TIP

Thewithdrawablepremiumfundislikeasavingsaccountandearnsinterestdaily.Clientscanwithdrawmoney

fromthisaccountwhentheyneedit.Thisfundissubjecttoourminimumwithdrawalrules;theinterestrate

seteachdayisbasedoncurrentshort-terminterestrates,andanyinterestearnedonthefundsheldinthe

withdrawablepremiumfundistaxable.


PREMIUM OFFSET

Premiumoffsetisanon-contractualfeaturethatmaybeavailableatsomepointinthefuture.

Ifaclientchoosespaid-upadditionalinsuranceorenhancedinsurancewiththe10-yearguaranteeastheirdividend

option,theymaybeeligibletoselectpremiumoffsetatsomepointinthefuture.Afterpayingtherequiredpremiums

foranumberofyears,theannualdividendswecredittotheclient’spolicyandthesurrenderingofpaid-upadditional

insurancemaybeenoughtopaytherequiredpremiumsinfutureyears.

Premiumoffsetmayoccurwhenthebaseinsuranceamountandanypaid-upadditionalinsurancehavecreatedabase

largeenoughtoearnenoughpolicyholderdividends,whichincombinationwiththesurrenderingofpaid-upadditional

insurance,aresufficienttocoverthecostoffuturepremiums.

Ifaclientchoosespaid-upadditionalinsuranceastheirdividendoption,thepotentialpremiumoffsetpointmay

occurearlierthaniftheyhadselectedenhancedinsurance.Thisisbecausethepolicyholderdividendscreditedunder

thepaid-upadditionalinsurancedividendoptionareusedentirelytopurchaseadditionalinsurance.Withenhanced

insurance,thepolicyholderdividendspurchaseacombinationofpaid-upadditionalinsuranceandyearlyterminsurance.

So,whilechangesinthedividendscalewillhaveanimpactonthepremiumoffsetpoint,regardlessofthedividend

optionchosen,clientsselectingenhancedinsuranceastheirdividendoptionwilllikelyexperienceagreaterimpactthan

thosewhoselectedpaid-upadditionalinsurance.

Whilepremiumoffsetprovidesclientswithfutureflexibilityforpremiumpayments,it’simportanttorememberthat

othervaluessuchastheincreaseindeathbenefitandcashvaluewillnotaccumulatetothesameextentastheywould

iftheclientcontinuedtopaythepremium.Thesevaluesmaydecreaseduetosurrenderingpaid-upadditionalinsurance

topaypremiums.

THINGS TO REMEMBER

Iftheclientiseligibleandhaschosentogoon

premiumoffsetandthedividendscaleisreduced

inthefuture,theymayhavetoresumepaying

premiumstomaintaintheircoverage.Orifthey

don’tresumepayingpremiums,theirpolicydeath

benefitwilldecrease.Paid-up additional

insurance

Currentdividend scale

Premium offsetat year 15


Time

Alternatedividend scale




Factors affecting premium offset

Whiletheperformanceofpolicyholderdividendsplaysanimportantpartindeterminingthefuturepremiumoffset

point,thereareanumberofotherfactorsthatshouldbetakenintoconsideration.Thesefactorsincludecash

withdrawals,achangeindividendoptionandtheadditionofoptionalbenefitstothepolicy.

THINGS TO REMEMBER

ItisimportanttorememberthatSun Par ProtectorandSun Par Accumulatorpoliciesareeligibletoearndividends

basedonavariablescalesetbySunLifeFinancialeachyear.Wewillreviewtheinvestmentperformance,expenses,

mortalityexperienceandotherrelevantfactorsforeachclassorgroupofparticipatingpoliciestodeterminethe

annualdividendscale.Evensmallchangestothedividendscalewillincreaseordecreasenon-guaranteedvalues.

Insomecasesthesechangestovalues,includingpremiumoffset,couldbesignificant.


PLUS PREMIUM BENEFIT

Thepluspremiumbenefitisanexcellentwayforclientstotakeadvantageofthetax-preferredcashvaluegrowthavailable

withSun Par ProtectorandSun Par Accumulator.Thepluspremiumbenefitisavailablewithallguaranteedpremium

optionsavailablewithSun Par Protector.WithSun Par Accumulator,thepluspremiumbenefitisonlyavailableifLifepayis

theguaranteedpremiumoption.Thisisbecausethe20payguaranteedpremiumoptionavailablewithSun Par Accumulator

isdesignedtotakefulladvantageofthepolicy’sexemptlimits,leavingnoroomforadditionalpremiums.

Theadditionalpremiumspaidunderthepluspremiumbenefitallowclientstoincreasetheamountofpaid-up

additionalinsurancepurchased.Theresultwillbeamorerapidaccumulationofpaid-upadditionalinsuranceandthe

cashvalueassociatedwithit.

WithSun Par Protector,thepluspremiumbenefitisonlyavailableifclientshaveselectedeitherpaid-upadditional

insuranceorenhancedinsuranceasthedividendoptionforthepolicy.Sinceenhancedinsuranceisnotavailable

withSun Par Accumulator,clientsmustchoosepaid-upadditionalinsuranceastheirdividendoptiontoaddtheplus

premiumbenefit.

Withenhancedinsuranceasthe

dividendoption,thetotaldeathbenefit

willnotincreaseimmediately.Instead,

thepaid-upadditionalinsurance

purchasedbythepluspremiumbenefit

willreplacetheyearlytermportionof

theenhancedinsurancemorerapidly.

Thiswillresultinthepolicyreachingthe

dividendcrossoverpointsooner.Once

thedividendcrossoverpointhasbeen

reached,thetotaldeathbenefitwill

begintoincrease.

Clientsmayselectthepluspremium

benefitatissue,oratsometimeinthe

future.Ifclientswanttoaddtheplus

premiumbenefitinthefuture,

theywillneedtoprovideevidence

ofinsurabilityatthattime.

Thepluspremiumbenefitoffersclientstheopportunitytochoosefromtwo

paymentoptions.Clientscanhaveapluspremiumbenefitthatisbasedon

regularlyscheduledpremiums.Thepaymentofthesepremiumswillfollowthe

sameannualormonthlypaymentmethod,thatappliestothebaseplan.Ifclients

haveaccesstosomeadditionalfunds,butdonotwanttocommittoaregular

additionalpayment,theycanoptfortheone-timesinglepaymentoption.

Plus premium benefit – minimum premium amounts:

$90forascheduledmonthlypremium,

$1,000forascheduledannualpremium,or

$1,000forasinglepremiumpayment.

THINGS TO REMEMBER

Thepurchasedateforpaid-upadditionalinsurance

occursontheanniversaryfollowingthedatethe

paymentwasmade.Interestiscreditedontheplus

premiumbenefitpaymentfromthedateappliedto

thepolicy,tothedatethepaid-upadditionalinsurance

ispurchased.Ifaclientelectstomakemonthly

payments,weconvertthemonthlypaymenttoan

annualamountwhenwedeterminetheamountof

paid-upadditionalinsurancethatmaybepurchased.


Time* The total death benefit is not guaranteed.

Paid-up additional insurancepurchased by

plus premium benefit

The power of plus premium benefitPaid-up additional insurance dividend option

Paid-up additionalinsurance purchased

by dividends



Changes to plus premium benefit

Clientscanapplytoincreasetheirpluspremiumbenefitpaymentsatanytime,uptomaximumssetbySunLifeFinancial.

Anyrequestforanincreaseinpaymentswillrequireevidenceofinsurabilityontheinsuredperson.Inaddition,clientscan

reducetheirpluspremiumbenefitpaymentaslongasitmeetstheminimumrequired.

Clientscanalsostopmakingtheirscheduledpluspremiumbenefitpaymentsatanytimebysimplynotifyingusinwriting.

Clientsmayrestarttheirpluspremiumbenefitpaymentswithoutevidenceofinsurabilitywithinthefirsttwoyearsof

thedatethepluspremiumbenefitswasstopped.Aftertwoyears,clientsmayapplytorestartthepluspremiumbenefit

paymentsprovidedtheoptionisstillavailable,andiftheirdividendoptioniseitherpaid-upadditionalinsuranceor

enhancedinsurance.Ifclientschoosetoapply,evidenceofinsurabilityontheinsuredpersonisrequired.

Withthepluspremiumbenefit,clientswillbenefitfromtheincreaseinbothcashvalueandpaid-upadditionalinsurance

purchased.Evenifaclientchoosestostopthepluspremiumbenefitpaymentsatsometimeinthefuture,thepaid-up

additionalinsuranceanditsassociatedcashvalueare“vested”untiltheyaresurrenderedortheclientchoosesto

withdrawfundsorgoonpremiumoffset.Thepluspremiumbenefitgivesclientsthesecurityofpurchasingadditional

wholelifeinsurancewithsomeoftheflexibilityassociatedwithuniversallifeinsurance.

THINGS TO REMEMBER

Iftheautomaticpremiumloanprovisionisbeingusedtopaypremiums,pluspremiumbenefitpaymentswill

alsobeloanedundertheautomaticpremiumloanprovision.Iftheclientsdonotwantthepluspremium

benefitpaymentstobepaidundertheautomaticpremiumloanprovision,theymustnotifyusinwriting.

DID YOU KNOW?

IftheSun Par ProtectororSun Par Accumulatorpolicyhasatotaldisabilitywaiverontheinsuredpersonand

premiumsarebeingwaivedunderthatbenefit,SunLifeFinancialwillstoppluspremiumbenefitpaymentswhile

thepremiumsarebeingwaived.Ifpremiumsarenolongerbeingwaived,thepluspremiumbenefitpaymentswill

automaticallyrestart.

IMPORTANT TO NOTE!

Ifthepolicyownerwishestogoonpremiumoffsetatsometimeinthefuture,thenthepluspremiumbenefitisno

longeravailable.Pluspremiumpaymentsstopandtheycannotberestartedwhilethepolicyisonpremiumoffset.


CASH VALUES

Accesstocashvaluewhenaclientneedsitmostisanimportantbenefitprovidedwithboth

Sun Par ProtectorandSun Par Accumulator.Thetotalcashvalueoftheseplansismade

upofguaranteedcashvaluesandcashvaluesthataregeneratedbydividendsandbyplus

premiumbenefitpayments(iftheclienthasselectedtheoptionalpluspremiumbenefit).

Guaranteed cash valuesGuaranteedcashvaluesareguaranteedvalueswhicharesetoutintheclient’spolicy.

WithSun Par Protector,guaranteedcashvaluestypicallybeginattheendofyearfiveand

withSun Par Accumulator,guaranteedcashvaluestypicallybeginattheendofyearone.

Guaranteedcashvaluesarenotaffectedbythedividendoptionselected.

Non-guaranteed cash values Thesecashvaluesarisewhendividendsareusedtopurchasepaid-upadditionalinsurance

orareleftondepositwithSunLifeFinancial.Thesecashvaluesareavailableonlyifthe

dividendoptionispaid-upadditionalinsurance,enhancedinsuranceordividendsondeposit.

Accessing the cash values

Policy loansOnewayclientscanaccessthecashvalueofthepolicyisthroughapolicyloan.Aclient

maytakeapolicyloanatanytimewhiletheirpolicyisinforce.Themaximumloanvalue

availableis:

100%oftheguaranteedcashvalue,

plusthecashvalueofanypaid-upadditionalinsurance,

plusanydividendsondeposit,

minusinterestforoneyearatourcurrentloanrates,

minusanyexistingindebtedness.

Thecurrentminimumamountaclientcanborrowis$1000.6

SunLifeFinancialwillsettheinterestrateandletthepolicyownerknowtheinterest

rateatthetimetheytakethepolicyloan.Interestontheseloansischargeddaily.

Theaccumulatedinterestisaddedtotheloanbalanceattheendofeachpolicyyear

thattheloanisoutstanding.Ateachpolicyanniversary,theinterestratechargedonthe

policyloanisresettothecurrentloaninterestratewewouldchargeonnewloanson

thepolicyatthattime.

Thepolicyownercanrepaythepolicyloanatanytimewithoutpenalty.

Thebalanceofanypolicyloanissubtractedfromthedeathbenefitpayable.

6ThisamountiscurrentasofApril,2014,andissubjecttochange.

DID YOU KNOW?

Whileautomaticpremiumloansarenot

subjecttotaxationsincetheyareusedsolely

topaypremiums,policyloansrequestedby

theclientmaybesubjecttotaxationtothe

extentthattheloanexceedstheadjusted

costbasis.

TIP

Policyloansallowclientstotakeadvantage

ofthecashaccumulatedintheirpolicy.

Thehighertotalcashvalueinthepolicy,

themorefundsclientscanborrow.Using

thepluspremiumbenefitwillaccelerate

thegrowthofthecashvalueandthe

compoundingeffectofdividends.Ifclients

wanttoaccesscashthroughpolicyloans

tofundafuturegoal,youcansuggestthe

pluspremiumbenefitasawaytomakethis

goalareality.


WithdrawalsAnotherwayaclientcanaccessthecashvaluefromtheirSun Par ProtectororSun Par Accumulator

policyisthroughwithdrawals.Ifaclienthasselectedeitherpaid-upadditionalinsuranceordividends

ondepositasthedividendoptionfortheirpolicy,theycanaccessthecashvaluearisingfrom

policyholderdividendsthroughwithdrawals.

Ifthedividendoptionispaid-upadditionalinsurance,thecashwithdrawalsaremadebysurrendering

paid-upadditionalinsurancetoaccessthepolicy’scashvalue.Thetotaldeathbenefitwillbereduced

bytheamountofpaid-upadditionalinsurancesurrenderedforthewithdrawal.

Withdividendsondeposit,withdrawalsaremadefromanaccountsimilartoasavingsaccount,which

isheldoutsideoftheSun Par ProtectororSun Par Accumulatorpolicy.

Clientshaveaccesstotheaccumulateddividendsandaccruedinterestatanytimewiththis

dividendoption.

Thecurrentminimumwithdrawalis$1000.7

Theonlywaytoaccessmoneyfromtheguaranteedcashvaluesisbyreducingthebaseinsurance

amount.Inordertoreducethebaseinsuranceamount,thepolicyownerwillneedtorequestthis

changeinwritingtoSunLifeFinancial.Oncethebaseinsuranceamounthasbeenreduced,allother

valueswillbechangedtoreflectthenewbaseinsuranceamount.

7ThisamountiscurrentasofApril,2014,andissubjecttochange.

IMPORTANT TO NOTE

Whensurrenderingpaid-upadditionalinsuranceforitscashvalue,thedeathbenefitwillbe

reducedbymorethantheamountwithdrawnbecausewithpaid-upadditionalinsurance,one

dollarofcashvalueresultsinmorethanonedollarofdeathbenefit.

THINGS TO REMEMBER

Withdrawalsarenotpermitted

ifthedividendoptionsare

enhancedinsurance,annual

premiumreductionorcash

payments.


TAXATION

BothSun Par ProtectorandSun Par Accumulatorareconsideredexemptlifeinsurancepolicies

undertheIncomeTaxAct(Canada).Withthesetypesofpolicies,cashvalueswithinapolicycan

accumulateonatax-preferredbasis,withinlimitsprescribedundertheIncomeTaxAct(Canada).

Maintaining the exempt status of the policySun Par ProtectorandSun Par Accumulatoraredesignedtobeexemptlifeinsurancepolicies

undertheIncomeTaxAct(Canada).However,ifdividendscalesincreaseinthefutureortheclient

reducesthebaseinsuranceamount,thesechangesmayrequireSunLifeFinancialtotakethemeasures

describedbelowtoensurethepolicymaintainsitsexemptstatus.

Ateachpolicyanniversary,thepolicy’snetcashvalueiscomparedtothetax-exemptlimit.Ifthenet

cashvalueexceedsthetax-exemptlimit,thecashvalueisreducedtothetax-exemptlimit.Toreduce

thenetcashvaluetotheamountthatwillmaintaintheexemptstatusofthepolicy,wewillapplyany

excesscashvalueto:

reduceanyoutstandingpolicyloans,

thenanyremainingamountwillbeappliedtothewithdrawablepremiumfund.

Ifaclienthaselectedthepluspremiumbenefitwiththeirpolicy,theexcessamountswillfirstbe

takenfromallorpartofanypluspremiumbenefitpaymentsmadeinthepolicyyear.Inaddition,

SunLifeFinancialwillalsoreducetheamountofpaid-upadditionalinsurancesothatthenetcash

valueisbelowthetax-exemptlimitifthetransferoftheexcessamountswasnotsufficientto

maintainthepolicy’sexemptstatus.

Taxation of dividends

Paid-up additional insuranceWiththisdividendoption,anypolicyholderdividendscreditedtothepolicyareusedtopurchasepaid-

upadditionalinsurance.Thisisconsideredaninternaleventtothepolicy.Inthiscase,theadjustedcost

basis(ACB)ofthepolicyisreducedbytheamountofthedividendcreditedbutisthenimmediately

increasedbythesameamount,asthedividendisre-paidtothepolicyasapremiumtopayforthe

paid-upadditionalinsurance.Underthisdividendoption,nogainisreportedtothepolicyowneruntila

taxabledisposition,suchasawithdrawal,policyloan,orsurrenderoccurs.

Enhanced insurancePolicyholderdividendscreditedtothepolicyareusedtopayfortheyearlyterminsurance.Any

excesspolicyholderdividendsareusedtopurchasepaid-upadditionalinsurancewhichreplaces

someoftheyearlyterminsurance.Thisdividendoptionistreatedthesamewayaspaid-upadditional

insurancefromataxationstandpoint.Thetransactionsareconsideredinternalandunderthis

dividendoptionnogainisreportedtothepolicyowneruntilatransactionthatresultsinataxable

dispositionoccurs.

THINGS TO REMEMBER

Thetaxrulesmaychangeatany

timeandtheadministrationof

thepolicyanditsfeatureswill

changeasrequiredbasedon

thenewrules.


Annual premium reduction

Annually,anypolicyholderdividendisusedtoreduceandthenpotentiallypaythepremiumsforthepolicy.Asthis

dividendoptionusesthepolicyholderdividendtopaypremiums,theACBofthepolicyisfirstreducedbytheamountof

thedividendandthenimmediatelyincreasedbytheamountofthedividendusedtopaypremiums.Usingdividendstopay

premiumsdoesn’tchangethepolicy’sACBunlessthedividendexceedsthepremium.Whenthathappens,theamountofthe

dividendthatexceedsthepremiumistransferredtothewithdrawablepremiumfund.Fortaxpurposestheexcessistreated

asacashdividendandreducesthepolicy’sACB.TheexcessdividendistaxabletotheextentitexceedstheACB.

Dividends on depositAnypolicyholderdividendscreditedareleftondepositwithSunLifeFinancialandearnacompetitiveinterestrate.

Anyinterestearnedonthedividendsleftondepositisreportedtothepolicyownerannuallyandissubjectto

annualtaxreporting.Dividendspaidreducethepolicy’sACB.ThedividendistaxabletotheextentitexceedsACB.

Cash paymentDividendspaidreducethepolicy’sACB.ThedividendistaxabletotheextentitexceedstheACB.

Taxation of cash withdrawals or policy loans

Ifpaid-upadditionalinsuranceorenhancedinsuranceistheclient’sdividendoption,theycanaccessthecashheld

withinthepolicybymakingawithdrawalortakingapolicyloan.Whentheclientmakesawithdrawalortakesapolicy

loan,ataxabledispositionmayoccur.

Forapolicyloan,ataxable dispositionwilloccurwhenthepolicyloanorcashwithdrawalexceedstheACBofthepolicy.

Foracashwithdrawal,a taxable dispositionwilloccurwhenthecashsurrendervalueexceedstheACBofthepolicy.The

taxableamountispro-ratedbasedontheamountwithdrawn.


ADMINISTRATIVE INFORMATION

Non-smoker classification

Toqualifyfornon-smokerrates,theinsuredpersonmustnothaveusedanynicotineortobaccoproductsinthelast

12monthsbeforetheysignedtheirapplication.Nicotineortobaccoproductsinclude;cigarettes,cigarillos,smallorlarge

cigars,pipes,marijuana,hashish,betelnut,chewingtobaccoandnicotinegumorpatches.Occasionallargecigarusemay

qualifyforanon-smokerclassificationsubjecttoanegativecotininetest.

Forissueages0-17juvenileratesareuseduntilagenearest18.Toqualifyforlowernon-smokerrates,thejuvenile

mustsubmitadeclarationwhentheyreachagenearest18.Ifthejuvenileinsuredqualifiesfornon-smokerrates,both

therequiredpremiumandguaranteedcashvalueswilldecreaseonthepolicyanniversarynearesttheir18thbirthday.

InsuredpersonsapplyingforSun Par Protectoratagenearest17arenotrequiredtosubmitaseparatedeclarationtobe

consideredfornon-smokerratesatage18butmustmeetthecriteriamentionedabove.

Living benefit

ThisbenefitisofferedonSunLifeAssuranceCompanyofCanadalifeinsuranceproductsandisanon-contractual

arrangementthatwemayapproveatourdiscretiononacase-by-casebasis.Ifaninsuredpersonisdiagnosedwitha

terminalillness,anapplicationcanbemadebythepolicyownerforalump-sumadvanceof50percentofthedeath

benefit,toamaximumof$100,000.Thelumpsum,plusinterest,isdeductedfromthedeathbenefitwhenitispaid.

Thisbenefitwillfollowtherulesofthelivingbenefitprogramineffectwhenthepolicyownerappliestoreceivethebenefit.

Reinstatement

Oncethepolicyhaslapsed,clientsmayapplytoputthepolicybackintoeffectwithintwoyearsofthepolicyending.

Toputthepolicybackintoeffecttheclientmust:

applywithintwoyearsofthepolicyending,

provideSunLifeFinancialwithnewevidenceofinsurabilitythatSunLifeFinancialconsiderssatisfactory,and

makeapaymentthatisequaltothereinstatementchargeassetbySunLifeFinancial.

Iftheapplicationforreinstatementisnotapproved,wewillrefundtheamountpaidwiththeapplicationtoreinstate

thepolicy.

Non-forfeiture options

Sun Par ProtectorandSun Par Accumulatorhavetwonon-forfeitureoptionswhichcanbeusefultokeepsome

coverageinforcefortheclientsiftheycan’tpaytherequiredpremiums.

Automatic premium loan

Automaticpremiumloanisthedefaultoptionandisdescribedindetailunderthepremiumsectionofthisguide.

Seepage10.


Reduced paid-up life insurance

Clientsmayrequestthattheirinsurancecoveragechangetoreducedpaid-uplifeinsuranceifpremiumsarestillpayable

underthepolicy.Oncethepolicyhasbeenchangedtoreducedpaid-upinsurance,premiumsarenolongerpayable.

Thereducedpaid-uplifeinsurancemaybeeligiblefordividends.Ifthedividendoptionontheoriginalpolicyiseither

enhancedinsuranceorannualpremiumreduction,wewillautomaticallychangeittopaid-upadditionalinsurance.

Oncetheclientelectstohavethepolicybecomereducedpaid-uplifeinsurance,allotheroptionalbenefitsthatwere

attachedtothebaseplanareterminated.

Claims

Youmayassistabeneficiaryinmakingaclaimbycalling1-877-272-2020torequestclaimforms.Completedforms,

includingproofoftheinsuredperson’sdeath,needtobemailedto:

LifeClaimsServices

SunLifeAssuranceCompanyofCanada

227KingSt.S.

P.O.Box1601,StationWaterloo

WaterlooONN2J4C5

Canada

Product disclosure requirements

YouareresponsibleforprovidingclientswithacopyofYour guide to participating life insurance – Sun Par Protector,

Sun Par Accumulatorandaproductillustration.Thesecanbefoundontheadvisorwebsiteyouusewith

SunLifeFinancial.Otherimportantproductdisclosureinformation,includingsamplepolicypages,canbefoundonthe

advisorwebsiteaswell.

DID YOU KNOW?

Aclientcannotchangethepolicytoreducedpaid-uplifeinsuranceifthischangewillmakethepolicybecome

non-exemptfortaxpurposesordoesnotmeetSunLifeFinancial’sminimumsforreducedpaid-upinsurance.


ADDITIONAL NON-PAR BENEFITS

TheoptionalbenefitsavailablewithSun Par ProtectorandSun Par Accumulatorallowyoutofurthercustomizeaclient’s

plantomeettheirindividualprotectionneeds.Whilethebaseinsuranceamountandanyadditionalcoverageprovided

throughthedividendoptionsareparticipating,thefollowingoptionalbenefitsareconsideredtobenon-par.Thepremiums

forthesebenefitsdonotgointotheparaccountandtheyarenottakenintoconsiderationwhendividendsarecreditedto

thepolicy.Thistableoutlinestheoptionalbenefitsavailablebasedonthedifferentcoveragetypesandpaymentoptions.


Optional benefits Life pay 20 pay Pay to age 65 Life pay 20 pay

Terminsurance:5-and10-year(baseinsured)

18-70S

18-60S

18-44S

18-70S

18-60S

Terminsurance:20-year(baseinsured)

18-60S

18-60S

18-44S

18-60S

18-60S

Terminsurance:5-and10-year(additionalinsured)

0-70S

N/A N/A 0-70S

N/A

Terminsurance:20-year(additionalinsured)

0-60S

N/A N/A 0-60S

N/A

Childterminsurance

16-558S

16-558S

16-448

S18-55

S18-55

S

Accidentaldeathbenefit

0-65S

0-50S

0-44S

18-65S

18-50S

Totaldisability9 18-55S/JF/JL10

18-55S/JF/JL

18-44S/JF/JL

18-55S/JF/JL

18-55S/JF/JL

Ownerwaiverondisability

18-55S

18-55S

18-55S

18-55S

18-55S

Ownerwaiverondeath

18-60S

18-60S

18-60S

18-60S

18-60S

Guaranteedinsurabilitybenefit

0-50S

0-50S

0-44S

18-50S

18-50S

8Minimumageis18inQuebec.9Themaximumretentionlimitforthetotaldisabilitybenefitis$50,000annualpremiumor$2.5MoffaceamountacrossallSunLifeFinancialpolicies.10Note–baseplancoveragetype:S=singlelife;JF=jointfirst-to-die;JL=jointlast-to-die

Theinformationprovidedinthisguidetodescribetheoptionalnon-parbenefitsavailablewithSun Par Protectorand

Sun Par Accumulatorislimited.Fordetailsoneachofthesebenefits,pleaseseethepolicy.


Term insurance benefit

AvailableatissuewithbothSun Par ProtectorandSun Par Accumulator,5-,10-and20-yearrenewableand

convertibletermbenefitsprovideadditionalprotectiontheinsuredpersonmayneedonatemporarybasis.Each

insuredpersonwithabasicinsurancebenefitcanincludeaterminsurancebenefitonanotherpersonsuchasaspouse,

familymemberorbusinesspartner.Thethirdpartyterminsurancebenefitisavailableatissueonsinglelifecoverage

optionswheretheinsuredis18yearsofageorolder.IftheclienthasselectedtheLifepaypremiumoptionandisage

nearest18orolder,theyhavetheoptionofaddingathirdpartyterminsurancebenefitonajuvenileaged0-17.This

enablesaparentandtheirchildtobeinsuredunderthesameplan.

Theminimumfaceamountforaterminsurancebenefitis$25,000.Iftheterminsurancebenefitisonthebaselife

insured,themaximumamountofterminsurancebenefitthatcanbeaddedis$10,000,000lessthebasicamountand

anyenhancedinsurance,ifapplicable.Themaximumamountofterminsurancebenefitthatcanbeaddedfora

thirdpartyis$10,000,000.

Thisbenefitisguaranteedtoberenewableattheendofeachtermperiodlistedinthechartbelow.Thisbenefitcan

alsobeconverted,priortotheconversiondatelistedbelow,toanyeligiblelifeplanofferedbySunLifeFinancialat

thetimeofconversion.

Child term insurance benefit (CTB)

TheCTBisterminsuranceforthechildrenofthepersoninsuredundereitherSun Par ProtectororSun Par Accumulator.

Thisbenefitallowschildrenandfuturechildrenoftheinsuredparenttobecoveredundertheparent’slifeinsurance

policyuntilthechildis25yearsold.

Theparentwhoisthebaselifeinsuredmustbebetweentheagesof16and55(18to55inQuebec).Thechildterm

insurancebenefitisavailableforchildrenbornorlegallyadoptedbytheinsuredperson,whoare18yearsofageor

youngeratthetimeofapplication,andastandardrisk.Anychildrenbornoradoptedafterthedateofapplicationare

automaticallyinsuredregardlessoftheirriskclass.Step-childrencanbeincludedatthetimeofapplication.Clientscan

includestep-childrenafterthebenefitisineffectbyapplyinginwritingandprovidingevidenceofinsurability.

Minimumamount–$10,000

Maximumamount–$20,000(totalperchildcombined

CTBonallpolicies)

Iftheinsuredpersondies,thechildrenarecoveredunder

thisbenefituntilage25oruntiltheyapplyforanewlife

insurancepolicyaspermittedunderthisbenefit.

Betweentheir18thand25thbirthdays,childreninsured

underthisbenefitwillhavetherighttobuyadditionallife

insuranceforuptofivetimestheamountoftheCTB.

TheCTBwillendontheearliestofeitherthechild’s

25thbirthdayorthepolicyanniversarynearesttheinsured

person’s65thbirthday.

Convertible to Benefit ends

Lifepay • age70 • agenearest80

20pay • theearlierofyear15orage70 • year20

Paytoage65 • age60 • agenearest65

TERM INSURANCE BENEFIT – BASE LIFE INSURED/THIRD PARTY INSURED

DID YOU KNOW?

PremiumsforCTBarepayableuntilthepolicy

anniversarynearesttheinsuredperson’s65thbirthday

forLifepayandPaytoage65plans.For20pay

policies,thepremiumswillstopin20years,however

thebenefitwillcontinuetothepolicyanniversary

nearesttheinsuredperson’s65thbirthday.


Accidental death benefit (ADB)

Theaccidentaldeathbenefitoptionpaysoutanadditionaldeathbenefittothebeneficiaryiftheinsuredperson’sdeath

wasduetoanaccident.

Thisbenefitisavailableonsinglelifecoverageoptionsatthefollowingissueages,andceasesonthepolicyanniversary

nearesttheinsuredperson’s70thbirthday.

PremiumsforADBarepayabletotheearlieroftheADBenddateorthedatethatpremiumsforthebaseplanareno

longerpayable.

TheminimumADBinsuranceamountis$10,000.ThemaximumADBinsuranceamountisthepolicyfaceamountandis

subjecttothefollowingissueandparticipationlimits:


Life pay 20 pay Pay to age 65 Life pay 20 pay

0-65 0-50 0-44 18-65 18-50

Issue age Maximum Participation limit11

0-1412 $100,000 $150,000

15-24 $250,000 $400,000

25-65 $500,000 $750,000

11MaximumofallADBinsuranceamountswithSunLifeFinancial.12ADBisnotpayableifdeathoccursbeforeagefive.

FordetailsonexclusionsforADB,pleaseseethepolicy.


Total disability benefit (TDB) – issue ages 18 or older

Thisisanadditionalbenefitthatmaintainscoverageiftheinsuredpersonbecomestotallydisabled

andunabletoearnanincomebetweenthepolicyanniversarynearesttheinsuredperson’s18thand

60thbirthdays.Thepremiumsforthisbenefitarebasedoneach$100ofpremiumtobewaived.This

benefitisavailableonsinglelifeplans,jointfirst-to-die,jointlast-to-diepremiumstothelastdeath,

andjointlast-to-diepremiumstothefirstdeathoneitheroneorbothofthelivesinsured.

WithTDB,thepremiumsforthebaseinsuranceamountandadditionalbenefitsattachedtothepolicy

willbewaivediftheinsuredpersonunderthisbenefitbecomesdisabled.Ifthepolicyhastheplus

premiumbenefit,paymentsdueunderthisbenefitwillbestoppedwhilewearewaivingpremiums.

ExclusionsWewillnotwaivepremiumsifthetotaldisability:

continuesforlessthansixmonths,

istheresultofself-inflictedinjuries,or

istheresultofcommittingacriminaloffence.

Pleaseseethepolicyforotherexclusions.

Making a claimForclientstomakeaclaim,noticemustbegiventous:

duringtotaldisability,and

beforethepolicyanniversarynearesttheinsuredperson’s60thbirthday.

ProofProofmustbegiventous:

withinsixmonthsofnotice,and

then,fromtime-to-time,asrequiredbyus.

Limitations Paymentsunderthisbenefitwillnotbemadeforanyperiodearlierthanoneyearbeforenoticeof

totaldisabilityisreceivedbyus.

Toclaimthetotal disability benefit,theinsuredpersonmustbecompletelyunabletocarryouttheessentialdutiesoftheirownoccupationasaresultofinjuryordiseaseduringthefirsttwoyearsfollowingthedatetheirdisabilitybegins.Afterthefirsttwoyears,theinsuredpersonmustnotbeabletocarryoutanyoccupationandthetotaldisabilitymustbecontinuous.Pleaseseepolicyforcompletedetails.

Themaximumretentionlimitforthetotaldisabilitybenefitis$50,000annualpremiumor$2.5MoffaceamountacrossallSunLifeFinancialpolicies.

DID YOU KNOW?

WhenpremiumsarenolongerbeingwaivedunderTDB,thepluspremiumbenefitpaymentswill



Total disability benefit (TDB) – issue ages 0 - 17

AvailablewithSun Par Protectoronly,thisTDBprovidesjuveniles,ages0-17,withatotaldisabilitybenefitwherethe

premiumsandbenefitsbeginonthepolicyanniversarynearesttheinsuredperson’s21stbirthday.Thisbenefitisonly

availablewithLifepayandPaytoage65premiumoptions.

Thisbenefitisautomaticallyunderwrittenatissueandwillautomaticallybeincludedinthepolicyunlessdeclined.

Thepolicyownermaychoosetocancelthisbenefitafterissue;howeveritcannotbeaddedagainoncecancelled.

WithTDB,thepremiumsforthebaseinsuranceamountandadditionalbenefitsattachedtothepolicywillbewaived

ifthepersoninsuredunderthisbenefitbecomesdisabled.Ifthepolicyhasthepluspremiumbenefit,premiumsdue

underthisbenefitwillbestoppedwhilewearewaivingpremiums.

Definition of total disability

Theinsuredpersonmustbecompletelyunable,asaresultofinjuryordisease,duringthefirsttwoyearsfollowingthe

dateoftheirdisability,tocarryonwiththeessentialdutiesoftheirownoccupation,andthereaftertocarryonany

occupation.Thetotaldisabilitymustbecontinuous.

Iftheinsuredpersonbecomesdisabledwhiletheyareastudent,SunLifeFinancialwillconsiderthemtobedisabledif

theyarecompletelyunabletoattendorparticipateasastudentinaneducationprogram,orperformanyoccupation

withintheireducation,trainingorexperience.Pleaseseethepolicyforcompletedetails.

ExclusionsWewillnotwaivepremiumsifthetotaldisability:

continuesforlessthansixmonths,

istheresultofself-inflictedinjuries,or

istheresultofcommittingacriminaloffence.

Pleaseseethepolicyforotherexclusions.

Making a claimForclientstomakeaclaim,noticemustbegiventous:

duringtotaldisability,providedthedisabilitybeganafterthepolicyanniversary

nearesttheinsuredperson’s21stbirthday,and

beforethepolicyanniversarynearesttheinsuredperson’s60thbirthday.

ProofProofmustbegiventous:

withinsixmonthsofnotice,and

then,fromtimetotimeasrequiredbyus.

Limitations Paymentsunderthisbenefitwillnotbemadeforanyperiodearlierthanoneyear

beforenoticeoftotaldisabilityisreceivedbyus.

IMPORTANT TO NOTE!

IftheinsuredpersonunderTDBissueages

0-17becomestotallydisabledpriorto

thepolicyanniversarynearesttheir

21stbirthday,wewillnotwaivepremiums

underthisbenefit,evenifthedisability

extendsbeyondthepolicyanniversary

nearesttheinsuredperson’s21stbirthday.


Owner waiver on disability benefit

Thisisanadditionalbenefitthatmaintainscoverageiftheownerofthepolicybecomes

totallydisabledbetweenthepolicyanniversarynearestthepersoninsured’s18thand

60thbirthdays.Thepremiumsforthisbenefitarebasedoneach$100ofpremiumtobe

waived.Thisbenefitisavailableonsinglelifeplansonly.Inaddition,iftheownershipofthe

policyistransferred,thebenefitsunderthisoptionarenottransferrableandthereforethe

newownerwillnotqualifyfortheownerwaiverondisabilitybenefit.

LiketheTDB,premiumsforthebaseinsuranceamountandadditionalbenefitsattachedto

thepolicywillbewaivedifthepersoninsuredunderthisbenefitbecomesdisabled.Ifthe

policyhasthepluspremiumbenefit,premiumsdueunderthisbenefitwillbestoppedwhile

wearewaivingpremiums.

Paymentsmadebyusunderthisbenefitwillendontheearlierofthedatepremiumsareno

longerpayableunderthepolicyorthepolicyanniversarynearestthe80thbirthdayofthe

ownerinsuredunderthisbenefit.

AllotheraspectsofthisbenefitarethesameastheTDBforages18orolder.

Owner waiver on death benefit

Thisisanadditionalbenefitthatmaintainscoverageiftheownerofthepolicydiesbetween

thepolicyanniversarynearesttheownerinsured’s18thand70thbirthdays.Thepremiumsfor

thisbenefitarebasedoneach$100ofpremiumtobewaived.Thisbenefitisavailableon

singlelifeplansonly.Inaddition,iftheownershipofthepolicyistransferred,thebenefits

underthisoptionarenottransferrableandthenewownerwillnotqualifyfortheowner

waiverondeathbenefit.

Withtheownerwaiverondeathbenefit,premiumsforthebaseinsuranceamountand

additionalbenefitsattachedtothepolicywillbewaivedifthepersonwhoisinsuredunder

thisbenefitdies.Ifthepolicyhasthepluspremiumbenefit,premiumsdueunderthisbenefit

willbestoppedwhileSunLifeFinancialiswaivingpremiums.

PaymentsmadebySunLifeFinancialunderthisbenefitwillendontheearlierofthedate

premiumsarenolongerpayableunderthepolicyorthepolicyanniversarynearestthe

80thbirthdayoftheownerinsuredunderthisbenefit.

ExclusionsPremiumswillnotbewaivediftheownerinsuredunderthisbenefittakestheirownlife,

whilesaneorinsane,withintwoyearsorthelaterof:

thepolicyeffectivedate,or

themostrecentdatethepolicywasputbackintoeffect,ifitwasreinstated.

DID YOU KNOW?

Whenpremiumsarenolongerbeing

waivedunderthesebenefits,the

pluspremiumbenefitpaymentswill



Guaranteed insurability benefit (GIB)

GIBallowsthepolicyownertopurchaseadditionalinsuranceprotection,onan

attainedagebasis,withoutprovidingevidenceofinsurability.SunLifeFinancial

determinesthetypeoflifeinsurancetheownermayapplyforandthetermsand

conditionsofthepolicy.

WithGIBthepolicyownerhastheoptiontopurchaseadditionalcoverageevery

threeyears,oronsignificantfamilydates(marriage,birthoradoptionofachild).

Thisbenefitisavailableatissueforages0-agenearest50.Theamountpurchased

mustbeatleast$25,000andthemaximumamountofGIBcoverageisthelesserof

theoriginalinsuranceamount(baseinsuranceamountplusenhancedinsuranceif

applicable)and$250,000.

Amaximumofeightelectionsarepermittedgivingamaximumof$2,000,000of

GIBcoverage.ThismaximumisreducedbyanyGIBamountonotherpoliciesissuedby

uscoveringthepersoninsuredundertheGIB.

ThefirstGIBelectionisavailablewhenthepersoninsuredunderthisbenefitreaches

agenearest24.Thisbenefitceasesonthepolicyanniversarynearesttheinsured

person’s55thbirthday.

TAKE A CLOSER LOOK

PremiumsforGIBarepayabletothepolicy

anniversarynearesttheinsuredperson’s

55thbirthdayforLifepayandPaytoage

65plans.For20payplans,thepremiumswill

stopin20years,howeverthebenefitwill

continuetothepolicyanniversarynearest

theinsuredperson’s55thbirthday.

SunLifeAssuranceCompanyofCanadaisamemberoftheSunLifeFinancialgroupofcompanies.©SunLifeAssuranceCompanyofCanada,2015.810-3597-Digital-02-15

Life’s brighter under the sun

Why choose Sun Life Financial?SunLifeFinancialisaleadinginternationalfinancialservicesorganization.InCanada,we

startedsellinglifeinsurancein1871.Sincethen,ourcommitmenttohelpingpeopleachieve

lifetimefinancialsecuritythroughmarket-leadingproducts,expertadviceandinnovative

solutionshasmadeusahouseholdname–anamethatpeopletrust.

Forthesixthstraightyear,wewerevotedbyCanadiansasthe“MostTrustedLifeInsurance

Company”intheReader’sDigest2015TrustedBrandsSurvey.Inthissurvey,peoplewere

askedtoconsiderwhetherthebrandspossessedseveralattributesincludingsuperiorquality,

excellentvalue,anunderstandingofitscustomers’needsandwhethertheywouldrecommend

thebrandtoothers.We’rehonouredbythisawardandyourcontinuedtrustinus.

It’s important to meet with clients regularly to review their coverage and help them with any contractual conversions or renewals to ensure they have the protection that meets their needs.

TMTrustedBrandisaregisteredtrademarkofReader’sDigestAssociationCanadaULC.

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