Mailing Address
409-8 Main Street East
Hamilton, ON
L8N 1E8
Types of guaranteed interest products:
Guaranteed investment certificates (GICs)
-
GICs are one of the safest and simplest investments you can make.
-
GIC rates are guaranteed for a fixed period of time.
-
Available through Sun Life Financial Trust Inc., our GICs also offer flexible maturity dates and a 45-day rate guarantee.
Insurance GICs
-
Insurance GICs are accumulation annuities that work like a GIC, with the added benefits of a life insurance contract.
-
You can choose from a range of investments, each with a fixed rate of interest.
-
Because an insurance GIC is an insurance contract, you can name a beneficiary for direct settlement at death, which avoids the cost and delays associated with probate and estate settlement.
Segregated Fund Products
Segregated fund contracts are a popular investment option, available only from life insurance companies. Similar to mutual funds, segregated funds are large pools of money invested in stocks, bonds or other securities. These contracts have higher fees than mutual funds because they also offer guarantees and some of the additional benefits of a life insurance contract.
Benefits of segregated fund contracts
1. Guarantees. Protect the value of the premiums undefined you paid on the contract maturity date and on death. The guarantees are 75% to 100% of your premiums (reduced for any withdrawals). Some segregated fund contracts also offer income guarantees.
2. Beneficiaries. You can name a beneficiary to receive a death benefit from your registered or non-registered accounts. Your beneficiary will receive the death benefit when you die. The death benefit is the contract value at death, or the guaranteed amount, whichever is higher. The death benefit undefined bypasses your estate and goes directly to them. You can also control how your beneficiary gets the benefit: as a lump sum or in the form of a payout annuity.
3. Potential creditor protection. This means that creditors may not be able to take the funds you have in your segregated fund contract.
4. Guaranteed income options. Some segregated fund contracts offer lifetime guaranteed income. This can help provide you with a guaranteed income for life.
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 – guarantees to pay you an income for life or as long as the annuity contract specifies. Your income will be secure from both market and interest rate risks – and, if you buy your annuity with non-registered savings, you could also benefit from tax savings
Types of annuity products:
Life annuity
-
A life annuity provides guaranteed income payments for as long as you live. Or in the case of a joint life annuity, as long as you or your spouse/partner lives.
-
You also have the option to choose a guaranteed period. If you die before the end of that period, your beneficiary will receive the balance of the guaranteed income payments.
-
With life annuities, you never have to worry about outliving your retirement income.
Term certain annuity