The US division of Sun Life Financial has introduced a customized version of its Masters variable annuities suite, available exclusively through Huntington Bank.
The proprietary products include 10 Huntington Bank VA Funds as additional investment options to appeal to Huntington Bank’s customers when choosing asset allocations.
Sun Life has claimed that its customized Masters variable annuities will enable investors to select from the Huntington Bank variable annuities (VA) funds and over 40 additional investment options across many asset classes. Customers can also choose to elect Income ON Demand, a rider that gives them the option to stop, start and store annuity income, should the policyholder’s needs fluctuate during retirement.
Paula Jurcenko, senior vice president and director of product management and sales at Huntington Bank, said: Sun Life’s innovative approach to annuity products and its thorough understanding of the bank channel make it an ideal partner for Huntington. We believe Sun Life’s Income ON DemandSM rider is a unique benefit in the annuity and retirement planning industry that will be particularly appealing to Huntington Bank customers looking for improved flexibility with the traditional protection and accumulation benefits of variable annuities.