Premium source and available annuity types

The type of annuity available is based on the source of premium.

Premium source

Life

Term certain

Term certain to 90

Specify province for pension jurisdiction1

RRSP, RRIF

Yes

No

Yes

No

Locked in RRSP/LIRA/RLSP2, LRIF/LIF/RLIF3,
and RPPs4

Yes

No

No

Yes

DPSP, non-registered

Yes

Yes

No

No

1 For payout annuities using locked-in funds, specify the pension jurisdiction governing the locked-in funds on the application. Certain pension legislation dictates how we must calculate annuity income.
2 For RRSP and RRIF premium sources, a term certain to age 18 is allowed.
3 When using the Payout Annuity Income Illustration tool, select the LIRA premium source for RLSP and the LIF premium source for RLIF.
4 For RPP funds, important information can be found in the “Transfers from a registered pension plan to a Sun Life Payout Annuity advisor guide” (810-4343-Digital). Please reference this guide when submitting business with this source of funds.