SunFlex Retirement Income

ADVISOR USE ONLY

SunFlex Retirement Income

ADVISOR GUIDE

What's inside

Product overview Product features

and benefits Income Sales process Glossary

Life's brighter under the sun

Note that all references in this document to Sun Life Financial also include Sun Life Assurance Company of Canada.

CONFIDENCE FLEXIBILITY PEACE OF MIND

Table of contents

03 PRODUCT OVERVIEW

3 What is SunFlex Retirement Income? 3 Target market 3 How does it work? 4 Features and benefits 5 Product at a glance

09 INCOME

9 Income ? overview 10 Lifetime minimum income 11 Bonus income 12 Performance income 13 Income strategy 18 Calculating income ? overview 19 Calculating income ? details 25 Unscheduled income resets

29 PRODUCT FEATURES

29 Performance-linked investments 30 Calculating performance-linked investment returns 32 Annuity type 33 Guaranteed period 34 Death benefit 40 Income advance 44 Transfer income to a Sun Life payout annuity

47 SALES PROCESS

47 Steps in the sales process 48 What you need to know about

using locked-in money 49 Tools to help you make the sale 49 Forms you must complete 49 Documents you must provide 50 General tax information 51 Post sale communications

52 GLOSSARY

PEACE OF MIND FLEXIBILITY CONFIDENCE

PRODUCT OVERVIEW

TARGET MARKET

WHAT IS SunFlex Retirement Income?

SunFlex Retirement Income (SunFlex) is a new type of retirement income product. It provides lifetime guaranteed income and the potential for bonus income.

SunFlex Retirement Income is designed for clients who are retirement-ready or already in retirement. It will appeal to clients who:

are ready to transfer their registered savings into income. want lifetime guaranteed income. have an appetite for some market exposure. have enough other assets to put aside the portion they desire for their estate/beneficiaries and meet their need for emergency cash.

* This option is only available to clients who have more than three months remaining in their guaranteed period and who didn't use locked-in funds to purchase the policy.

How does it work?

SunFlex Retirement Income combines a lifetime guaranteed income with the potential for bonus income that is based on the performance of funds that you help the client choose.

When clients buy SunFlex Retirement Income:

they select the following: - annuity type, - guaranteed period length, - income start date, - income strategy, - payment frequency, - income reduction percentage (for joint life policies), and - performance-linked investments (funds).

the amount of their lifetime guaranteed income is based on their age and the total premium.

the amount of their first bonus income is based on their age and gender, the total premium, and the product features they choose. Initial bonus income is not affected by their choice of performance-linked investments.

After payments have started, bonus income is based on the return of performance-linked investments, and clients can:

change funds or the percentage of income allocated to a fund,

transfer income to a payout annuity, or

receive a lump sum payment now from payments they would receive in the future.*

SunFlex Retirement Income | ADVISOR GUIDE 3

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