SunLife Sunwise Essential Series 2
Whether it’s your investments, your retirement income or the value of your estate, SunWise Essential Series can securely guide you and your spouse through your saving and wealth accumulation years into your retirement years, with confidence.
At a Glance Pro’s:
SunLife has a unique position within the marketplace as many people recognize the brand of Sunlife. The underlying funds that support Sunlife investors is CI, and one of the unique features of Sunlife is their joint Life GMWB. This way both partners are included in the contract and income can continue to the death of the last spouse.
At a Glance Con’s:
You may be paying a little extra in MER’s due to the high profile advertising that SunLife participates in. They carry the highest MER fees amongst all tested.
You are given a standard 75/75 Guarantee; 75% Principle Guarantee after 10 years; and a 75% Death Benefit Guarantee from Contract issue. And as well a 75/100 guaranteed product is available with additional fees.
Annual Income Base Interest Rate Credited (or Market Value, whichever is higher):
5% Income Base Guarantee for Life or Market Value, whichever is higher.
Account Automatic Market Value Resets:
Every 3 years, if the Market is higher, you receive the Market Value, if 5% is better than market return, there is no need for a reset.
Guaranteed Minimum Income for Life:
- 3% of Account Value or Income Base Value Age 55-64.
- 4% of Account Value or Income Base Value Age 65-69.
- 4.25% of Account Value or Income Base Value Age 70-74.
- 5% of Account Value or Income Base Value Age 80 and Older.
MER Fee including Income for Life fee:
From 1.7% to 4.2% Depending on Fund
S & P Rating based upon Financial Stability and Strength:
Rating of AA+