Sun Life Financial

Changing Season for Variable Annuities

The annuity market is in a tough spot with variable annuities right now.  They are still good products and offer many investors benefits they can't get anywhere else, but low interest rates have made it hard for insurance companies to keep up the guarantees.  The living benefits have put a strain on insurance companies, so we should all be prepared for upcoming changes.  While they will  make an already complex product even more complex in some cases, changes will help the variable annuity... Read More

Variable Annuity Business Changing Hands

UPDATE #3: February 9, 2013I've been updating the story on Sun Life Financial's sale of their U.S. annuity business for months now and just came across some more information on the sale.  Investment Executive's Megan Harman talks about how the company's "Sale of U.S. annuity business reflects firm's strategy to shift away from non-core businesses."  The $1.35 billion sale to Delaware Life Holdings, part of Guggenheim Partners LLC, is likely to be finalized next quarter.  The company's... Read More

Prudential & AIG Pick Up MetLife's Variable Annuity Business

As MetLife scales back on their variable annuities, other companies are picking up the market share.  According to Bloomberg Business News' "Prudential Joins AIG Taking Annuities Share From MetLife," Zachary Tracer says that Prudential and AIG are the main companies who have capitalized on MetLife's variable annuity changes.  Prudential has sold the most variable annuities this year, according to LIMRA.  Their second quarter sales were $5.35 billion, which was an 18% increase.  Their market... Read More

Death Benefits & Tax Deferred Growth

While demand for variable annuities is still very high, many insurers are stepping back from them quite a bit.  According to Investment News's Darla Mercado in the article "VA carriers hunkering down," life insurers have had a hard time hedging their variable annuities with living benefits.  Stock market volatility and low interest rates are making it expensive for insurers to offer variable annuities.  Genworth Financial stopped selling annuities at the beginning of 2011 and Sun Life... Read More

Variable Annuity & Rider Join New Product Line

For those looking for a new option to guarantee lifetime income, Sun Life Financial has both a new variable annuity and a new living benefit rider.  A company press release introduces the variable annuity, Sun Life Solutions, and the living benefit rider, Sun Income Vision.  Sun Life says that these products will help advisors customize retirement plans in a cost effective way.There are many investment options from which to choose with the Sun Life Solutions variable annuity.  The Sun... Read More

Jackson National Gets Best Variable Annuity Reviews

***UPDATE: For the latest top-rate, low cost variable annuities, click here.***According to Investment News' Darla Mercado, financial advisors are more loyal to Jackson National Life Insurance Co.'s variable annuity products than to any other company.  In the article, "Advisers most loyal to this VA provider," we learn that Jackson National had the best variable annuity reviews followed by Prudential Financial Inc.  Jackson moved up from second place last year to throw Prudential out of... Read More

The New Fee-Based Variable Annuity

After a period of time where variable annuity products that were fee-based had a bad reputation, some of the biggest annuity companies are revamping the products.  Reuters Linda Stern discusses this new trend in her article "Analysis: New fee-only annuities aim to move upscale."  More advisors are changing to fee-only practices now and insurance companies are making new products to attract them.  Retirement security has become more important than ever before during the past few years causing... Read More

Sun Life President Defends Annuity Products

One of Canada's largest insurance companies, Sun Life Financial Co., is working to expand their U.S. business.  According to The Boston Globe article "Sun Life broadens its horizons in US," Todd Wallack says that Sun Life is in the midst of a huge nationwide advertising campaign.  Wallack interviewed the head of Sun Life in the U.S., Wes Thompson.  Their U.S. unit is based in Wellesley, MA, employs more than 1,800 people, and serves millions of customers in the U.S.  Sun Life's biggest... Read More

Huge Annuity Sales for Sun Life

In "Sun Life unit racks up $1B in variable annuity sales" from Tim McLaughlin of the Boston Business Journal, McLaughlin sums up Sun Life's great quarter.  Sun Life Financial Inc.'s U.S. division is based in Wellesley, Mass.  Sales of their variable annuities in the third quarter were $1.08 billion, more than a 30 percent increase from the previous quarter.  While many insurers have cut back their variable annuity business, Sun Life was able to capture 3.5 percent of the market share.  The... Read More

Variable Annuities Looking Good

Although consumers have been wary of many variable annuities lately, Sun Life Financial Inc. has made changes that have increased their sales.  This information comes from "Sun Life Beams About Variable Annuities but Barriers Remain" by Matt Ackermann of American Banker.  Valuable leadership changes within Sun Life led to the company "aggressively top-grading its wholesalers over the past five months to boost distribution".  Sun Life, a company usually ranking 17th or 18th in its industry,... Read More

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