Starting April 1, 2023, we’ll require illustrations using version 5.8.0 for all new Sun Par Accumulator II applications.
Effective January 30, 2023, the web version of Sun Life Illustrations (version 5.8.0) includes:
- new maximum Plus premiums for Sun Par Accumulator II and
- the new dividend scale interest rate.
We’ll make the desktop version 5.8.0 of Sun Life Illustrations available on March 20, 2023.
Because of the increase to the Sun Life dividend scale, future projected dividends are increasing. The increase in dividends leaves less room for Plus Premium payments, while keeping Sun Par Accumulator II policies tax-exempt. Allowing Plus premiums from the previous version of the illustration could require future action to keep these policies tax-exempt. This could include surrendering paid-up additional insurance.
We’ll accept previous versions of Sun Life Illustrations (version 5.7.2) until March 31, 2023. If you require changes during the underwriting process and need a new illustration, please use the web version of Sun Life Illustrations (version 5.8.0).