Accumulation annuities

Accumulation annuities are a kind of guaranteed investment only offered through the insurance industry. They are very similar to GICs, but because they are offered by a life insurance company they have different guarantees, and the added benefits of a beneficiary designation and potential creditor protection.

With an accumulation annuity, you can start with a lump sum or make periodic deposits at regular intervals, or on a flexible payment basis. The value within the annuity grows (accumulates) as deposits are made and as it earns interest. You can hold an accumulation annuity as part of a registered or non-registered savings or investment plan. You are guaranteed to receive a set interest rate over a predetermined term, and your investment is protected by specific insurance legislation.

You may not have heard of this investment option, but accumulation annuities offer added advantages for people thinking of estate planning.

Estate planning advantages

Usually, only registered investments like RRSPs and pension plans, let you name a beneficiary. But a Sun Life Financial accumulation annuity lets you name a beneficiary and avoid the trouble and expense of estate and probate fees, in case you were to die. If your spouse is named as your beneficiary, there are even more advantages (which an advisor can explain).

Potential creditor protection

If the beneficiary you've named qualifies, accumulation annuities are generally protected against seizure by creditors. This can be a big advantage for business owners and professionals wanting to protect against an unexpected lawsuit or bankruptcy.

Security and safety

Our accumulation annuities are backed by:

  • The financial strength of Sun Life Assurance Company of Canada, a member of the Sun Life Financial group of companies.
  • Assuris, to limits it sets. Sun Life Assurance Company of Canada is a member of Assuris. For information about this protection, visit


You can make monthly contributions as low as $50 ($25 for juveniles) or make a lump sum payment any time.


Choose from a variety of investment terms, either daily interest investment, or guaranteed interest investments.

Fixed terms, or you choose the end date

Available terms are 1 to 10 years, however you can also choose a specific date if you prefer.

45-day rate guarantee

You can lock in your interest rate up to 45 days before you deposit your money.


Unlike many guaranteed investments, our accumulation annuities are fully redeemable. That lets you get all or some of your money if you need it unexpectedly. There may be penalties.

Competitive interest rates

An advisor can give you our current rates.

Sample policy pages