Payout annuities - Completing the application
This 'fillable' PDF allows you to type information directly on the application. With pre-determined business rules, only the sections and fields that must be completed are displayed. You can then print the application and get the client's signatures. If you prefer to collect the client's signatures while you are completing the application online, the Signature and declaration section can be printed separately.
Tips for completing the application
- Detailed instructions are on the last page of the application.
- Complete all applicable sections of the application. Missing information will delay the issue of the policy.
- Be sure to write the policy number on all correspondence.
- If funds are coming from an external company, please initiate any external transfer.
- Attach a copy of the illustration to provide details of the sale.
- When you've completed the application, send it to: Sun Life Financial, 227 King Street S., Waterloo, ON, N2J 4C5.
For more tips on using the dynamic application, see Tips for using the dynamic payout annuity application.
- If the Beneficiary(ies) section is left blank, we'll issue the contract with the policyholder's estate as the beneficiary. Changing this requires a separate request.
- Ensure that you have the signatures of any irrevocable beneficiaries assigned to products being used to fund the payout annuity.
We require original signatures. We will not accept photocopied or faxed copies of the applicant's signature. If you printed the Signature and declaration section separately, ensure that it is included when you send the application.
We'll send French correspondence for clients residing in Quebec. Check the language of correspondence box if your client prefers English.
Proof of age
Please attach a copy of the proof of age. If you don't attach a copy, you must record the registration number, issue date of the document and country of issue.
- The following sections must always be completed:
- Identity verification, third party determination PEP and HIO
- FATCA self-certification question to confirm U.S. status for tax purposes
- Common Reporting Standard question to confirm any other jurisdiction other than Canada and the US for tax purposes.
- If a third party is acting on behalf of the policyholder, ensure that you attach a completed Identity verification, third party determination and politically exposed persons (PEP) for individual owners (4830-E) or an Identity verification and third party determination for entity owners (4831-E) form.
- If the policyholder is a company, please attach:
- a completed Identity verification and third party determination for entity owners (4831-E)
- a completed International tax classification for an entity (4545-E)
- a completed Certificate of incumbency (E4207)
- required corporate documents.
- Joint policyholders (owners) are allowed for non-registered funds. If these funds are coming from another non-registered contract, the previous policy must also be jointly owned.
Locked-in funds (RPP, LIF, LRIF, Locked-in RRSP or LIRA)
- For a single life annuity where there is no spouse, complete the spousal declaration question in the Annuity details section.
- If there is a spouse, and the client is applying for a single life annuity, or a joint life annuity which reduces to less than the minimum percentage allowed by the applicable provincial legislation, a spousal waiver for the applicable province must be submitted along with the application.