A life annuity is an insurance product that features predetermined periodic payments, guaranteed for fixed number of years or until the death of the annuitant. You may transfer all, or a portion of, your account balance out of the FPP and purchase an external annuity to provide guaranteed payments for your lifetime and, where applicable, the lifetime of your spouse.
Because of the complex nature of annuity products and the various options available in the marketplace, consult a reputable professional before purchasing an annuity product. To transfer your funds to an external life annuity, complete the following form:
- Direct Transfer of a Single Amount (T2151) Form (or an equivalent form from your external annuity provider)
Please submit the completed form to:
Sun Life, Group Retirement Services
PO Box 11001 Stn CV
Montreal, QC
H3C 3P3