485BPOS 1 accfile.htm <R>

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As Filed with the Securities and Exchange Commission on August 16, 2002

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REGISTRATION NO. 333-82957

811-05846

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SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

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POST-EFFECTIVE AMENDMENT NO. 9

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TO

FORM N-4

REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 /X/

AND

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AMENDMENT NO. 48

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TO

REGISTRATION STATEMENT UNDER THE INVESTMENT

COMPANY ACT OF 1940 /X/

SUN LIFE OF CANADA (U.S.) VARIABLE ACCOUNT F

(Exact Name of Registrant)

SUN LIFE ASSURANCE COMPANY OF CANADA (U.S.)

(Name of Depositor)

ONE SUN LIFE EXECUTIVE PARK WELLESLEY HILLS, MASSACHUSETTS 02481

(Address of Depositor's Principal Executive Offices)

DEPOSITOR'S TELEPHONE NUMBER: (781) 237-6030

EDWARD M. SHEA, ASSISTANT VICE PRESIDENT AND SENIOR COUNSEL

SUN LIFE ASSURANCE COMPANY OF CANADA (U.S.)

112 WORCESTER STREET WELLESLEY HILLS, MASSACHUSETTS 02481

(Name and Address of Agent for Service)

COPIES OF COMMUNICATIONS TO:

JOAN E. BOROS, ESQ.

JORDEN BURT LLP

1025 THOMAS JEFFERSON STREET, N.W.

SUITE 400 EAST

WASHINGTON, D.C. 20007-0805

IT IS PROPOSED THAT THIS FILING WILL BECOME EFFECTIVE (check appropriate box) / /

        IMMEDIATELY UPON FILING PURSUANT TO PARAGRAPH (b) OF RULE 485

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    /X/ ON SEPTEMBER 30, 2002 PURSUANT TO PARAGRAPH (b) OF RULE 485

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      / / 60 DAYS AFTER FILING PURSUANT TO PARAGRAPH (a)(1) OF RULE 485

     / / ON (DATE) PURSUANT TO PARAGRAPH (a)(1) OF RULE 485 IF APPROPRIATE CHECK THE FOLLOWING BOX:

    / / THIS POST-EFFECTIVE AMENDMENT DESIGNATES A NEW EFFECTIVE DATE FOR A PREVIOUSLY FILED POST-EFFECTIVE AMENDMENT.

 

 

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This Amendment No. 9 to the Registration Statement on Form N-4 (File Nos. 333-82957, 811-05846) is being filed pursuant to Rule 485(b) under the Securities Act of 1933, as amended, in order to add a Supplement to the Futurity Accolade Prospectus filed with Post-Effective No. 8 to the Registration Statement, which was filed on April 23, 2002. This Amendment does not otherwise delete, amend, or supersede any prospectus, statement of additional information, exhibit, or other information contained in the Registration Statement or any amendment thereto.

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PART A

 

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SUPPLEMENT DATED SEPTEMBER 30, 2002

TO

PROSPECTUS DATED APRIL 30, 2002, AS SUPPLEMENTED

FOR

FUTURITY ACCOLADE VARIABLE AND FIXED ANNUITY

ISSUED BY SUN LIFE ASSURANCE COMPANY OF CANADA (U.S.)

SUN LIFE OF CANADA (U.S.) VARIABLE ACCOUNT F

 

Effective September 30, 2002, seven new Funds will be available for investment under the above-captioned prospectus ("Prospectus"). As a result of the addition of the new Funds, the Prospectus is amended and supplemented as follows:

 

 

1.

The list of the available investment options appearing on the cover page of the Prospectus is supplemented by the addition of the following Funds:

Franklin Templeton Variable Insurance

    Products Trust

   Templeton Growth Securities Fund - Class 2

   Templeton Foreign Securities Fund - Class 2

PIMCO Variable Insurance Trust

   PIMCO Real Return Portfolio

   PIMCO Total Return Portfolio

   PIMCO Emerging Markets Bond Portfolio

   PIMCO High Yield Portfolio

First Eagle SoGen Variable Funds, Inc.

   First Eagle SoGen Overseas Variable Fund

 

 

2.

The table describing the "Underlying Fund Annual Expenses" is hereby amended and supplemented as follows:

UNDERLYING FUND ANNUAL EXPENSES1

(numbers in brackets represent expenses before fee waivers or expense reimbursements)2

(as a percentage of Fund net assets)

 

Management

Other Fund

12b-1 or

Total Annual

Fund

Fees

Expenses

Service Fees

Fund Expenses

         

Franklin Templeton Variable Insurance

    Products Trust

       

   Templeton Growth Securities Fund, Class 2*

0.80%

0.05%

0.25%

1.10%

   Templeton Foreign Securities Fund, Class 2**

0.69%

0.21%

0.25%

1.15%  [1.16%]

PIMCO Variable Insurance Trust

       

   PIMCO Real Return Portfolio +

0.25%

0.26%

0.15%

0.66%  [0.67%]

   PIMCO Total Return Portfolio +

0.25%

0.25%

0.15%

0.65%  [0.66%]

   PIMCO Emerging Markets Bond Portfolio +

0.45%

0.40%

0.15%

1.00%  [1.28%]

   PIMCO High Yield Portfolio +

0.25%

0.35%

0.15%

0.75%  [0.76%]

First Eagle SoGen Variable Funds, Inc.

       

   First Eagle SoGen Overseas Variable Fund ++

0.75%

0.50%

0.25%

1.50%  [2.08%]

                       

*

The Fund administration fee is paid indirectly through the management fee. While the maximum amount payable under each Fund's Rule 12b-1 plan is 0.35% per year of the Fund's average daily net assets, the Fund's Board of Trustees has set the current rate at 0.25% per year.

   

**

The Fund's manager has agreed in advance to reduce its fee to reflect reduced services resulting from the Fund's investment in a Franklin Templeton money fund. This reduction is required by the Board and an order of the Securities and Exchange Commission.

   

+

PIMCO has contractually agreed to reduce total annual portfolio operating expenses to the extent such expenses would exceed, due to the payment of organization expenses and Trustees' fees, the following percentages of average daily net assets:

PIMCO Real Return Portfolio

0.65%

PIMCO Total Return Portfolio

0.65%

PIMCO Emerging Markets Bond Portfolio

1.00%

PIMCO High Yield Portfolio

0.75%

 

Under the Expense Limitation Agreement, PIMCO may recoup these waivers and reimbursements in future periods, not exceeding three years, provided total expenses, including such recoupment, do not exceed the annual expense limit.

++

The Adviser has agreed to waive its advisory fee and, if necessary, reimburse Fund expenses through October 31, 2002, to the extent the Fund's aggregate expenses exceed 1.50% of (annualized) average net assets. The Adviser may or may not continue this arrangement after October 31, 2002, and, if not so continued, the Fund's aggregate expenses could be greater than 1.50% of average net assets for the year. Had the 2001 expense limitation extended only through October 31, 2001, the Fund's aggregate expenses for that year would have been 1.59% of average net assets.

 

 

3.

Footnote 2 that appears after the table of "Underlying Fund Annual Expenses" are hereby deleted and replaced by the following:

2

All expense figures are shown after expense reimbursements or waivers, except for the bracketed figures which show what the expense figures would have been absent reimbursement. All expense figures are based on actual expenses for the fiscal year ended December 31, 2001, except that (a) the expense figures shown for SCSM Alger Growth Fund, SCSM Alger Growth & Income Fund, SCSM Alger Small Capitalization Fund, Sun CapitalSM All Cap Fund, Templeton Growth Securities Fund, Templeton Foreign Securities Fund, PIMCO Real Return Portfolio, PIMCO Real Return Portfolio, PIMCO Emerging Markets Bond Portfolio, PIMCO High Yield Portfolio, and First Eagle SoGen Overseas Variable Fund are estimates for the year 2002 and (b) certain information relating to the Lord Abbett Series Fund has been restated to reflect the fees and expenses that will be applicable during 2002 as described in note (8) below. No actual expense figures are shown for the Funds listed in (a) because each of them commenced operations in or after April of 2002, and, therefore, has less than 10 months of investment experience.

   

 

4.

The examples accompanying the table of "Underlying Fund Annual Expenses" is hereby supplemented as follows:

If you surrender your Contract at the end of the applicable period, you would pay the following expenses on a $1,000 investment, assuming a 5% annual return, an average Contract size of $35,000, and no optional death benefit riders have been elected:

 

1 Year

3 Years

5 Years

10 Years

Templeton Growth Securities Fund, Class 2

$ 99

$ 147

$ 198

$ 311

Templeton Foreign Securities Fund, Class 2

100

149

200

316

PIMCO Real Return Portfolio

95

134

175

265

PIMCO Total Return Portfolio

95

133

175

264

PIMCO Emerging Markets Bond Portfolio

98

144

193

301

PIMCO High Yield Portfolio

96

136

180

275

First Eagle SoGen Overseas Variable Fund

103

159

218

350

If you surrender your Contract at the end of the applicable period, you would pay the following expenses on a $1,000 investment, assuming a 5% annual return, an average Contract size of $35,000, and the EEB Plus MAV optional death benefit rider has been elected:

1 Year

3 Years

5 Years

10 Years

Templeton Growth Securities Fund, Class 2

$ 103

$ 159

$ 218

$ 350

Templeton Foreign Securities Fund, Class 2

104

161

220

355

PIMCO Real Return Portfolio

99

146

196

307

PIMCO Total Return Portfolio

99

145

195

306

PIMCO Emerging Markets Bond Portfolio

102

156

213

340

PIMCO High Yield Portfolio

100

149

200

316

First Eagle SoGen Overseas Variable Fund

107

171

237

387

If you do not surrender your Contract, or if you annuitize at the end of the applicable period, you would pay the following expenses on a $1,000 investment, assuming a 5% annual return, an average Contract size of $35,000, and no optional death benefit riders have been elected:

1 Year

3 Years

5 Years

10 Years

Templeton Growth Securities Fund, Class 2

$ 27

$ 84

$ 144

$ 311

Templeton Foreign Securities Fund, Class 2

28

86

146

316

PIMCO Real Return Portfolio

23

71

121

265

PIMCO Total Return Portfolio

23

70

121

264

PIMCO Emerging Markets Bond Portfolio

26

81

139

301

PIMCO High Yield Portfolio

24

73

126

275

First Eagle SoGen Overseas Variable Fund

31

96

164

350

If you do not surrender your Contract, or if you annuitize at the end of the applicable period, you would pay the following expenses on a $1,000 investment, assuming a 5% annual return, an average Contract size of $35,000, and the EEB Plus MAV optional death benefit rider has been elected:

1 Year

3 Years

5 Years

10 Years

Templeton Growth Securities Fund, Class 2

$ 31

$ 96

$ 164

$ 350

Templeton Foreign Securities Fund, Class 2

32

98

166

355

PIMCO Real Return Portfolio

27

83

142

307

PIMCO Total Return Portfolio

27

82

141

306

PIMCO Emerging Markets Bond Portfolio

30

93

159

340

PIMCO High Yield Portfolio

28

86

146

316

First Eagle SoGen Overseas Variable Fund

35

108

183

387

 

 

 

 

 

5.

The Fund descriptions included under "Variable Account Options: The Funds" are hereby supplemented to added the following disclosure:

Franklin Templeton Variable Insurance Products Trust (advised by Templeton Global Advisors Limited, for Templeton Growth Securities Fund, and Templeton Investment Counsel, LLC, for Templeton Foreign Securities Fund)

   
 

Templeton Growth Securities Fund will seek long-term capital growth. Under normal market conditions, the Fund will invest at least 65% of its total assets in the equity securities of companies located anywhere in the world, including those in the U.S. and emerging markets

   
 

Templeton Foreign Securities Fund will seek long-term capital growth. Under normal market conditions, the Fund will invest at least 80% of its net assets in equity securities of foreign companies, including those in emerging markets.

PIMCO Variable Insurance Trust (advised by Pacific Investment Management Company LLC)

PIMCO Real Return Portfolio seeks maximum real return consistent with the preservation of real capital and prudent investment management.

PIMCO Total Return Portfolio seeks maximum total return consistent with the preservation of capital and prudent investment management.

   
 

PIMCO Emerging Markets Bond Portfolio seeks maximum total return consistent with preservation of capital and prudent investment management.

   

PIMCO High Yield Portfolio seeks maximum total return consistent with preservation of capital and prudent investment management.

   

First Eagle SoGen Variable Funds, Inc. (advised by Arnhold and S. Bleichroeder Advisers, Inc.)

   
 

First Eagle SoGen Overseas Variable Fund seeks long-term growth of capital by investing primarily in securities of small and medium size non-U.S. companies.

 

THIS SUPPLEMENT IS NOT VALID UNLESS ACCOMPANIED OR PRECEDED BY THE CURRENT FUTURITY ACCOLADE VARIABLE AND FIXED ANNUITY PROSPECTUS, DATED APRIL 30, 2002, AS SUPPLEMENTED, AND SHOULD BE READ TOGETHER WITH THE PROSPECTUS AND THE CURRENT FUND PROSPECTUSES. THIS SUPPLEMENT AND THE PROSPECTUSES SHOULD BE READ AND RETAINED FOR FURTHER REFERENCE.

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PART C

OTHER INFORMATION

Item 24. FINANCIAL STATEMENTS AND EXHIBITS

 

(a)

The following Financial Statements are incorporated in the Registration Statement by reference to Post-Effective Amendment No. 6 to the Registration Statement on Form N-4 (File No. 333-82957) filed April 23, 2001:

 
 

A.

Condensed Financial Information - Accumulation Unit Values

 
 

(Part A).

 
 

B.

Financial Statements of the Depositor (Part B)

 
 

1.

Consolidated Statements of Income, Years Ended December 31, 2001, 2000 and 1999;

 

2.

Consolidated Balance Sheets, December 31, 2001 and 2000,

 

3.

Consolidated Statements of Comprehensive Income, Years Ended December 31, 2001, 2000 and 1999;

 

4.

Consolidated Statements of Stockholder's Equity, Years Ended December 31, 2001, 2000 and 1999;

 

5.

Consolidated Statements of Cash Flows, Years Ended December 31, 2001, 2000 and 1999;

 

6.

Notes to Consolidated Financial Statements; and

 

7.

Independent Auditors' Report.

 
 

C.

Financial Statements of the Registrant (Part B)

 
 

1.

Statement of Condition, December 31, 2001;

 

2.

Statement of Operations, Year Ended December 31, 2001;

 

3.

Statements of Changes in Net Assets, Years Ended December 31, 2001and December 31, 2000;

 

4.

Notes to Financial Statements; and

 

5.

Independent Auditors' Report.

 
 

(b)

The following Exhibits are incorporated in the Registration Statement by reference unless otherwise indicated:

 
 

(1)

Resolution of Board of Directors of the depositor dated December 3, 1985 authorizing the establishment of the Registrant (Incorporated herein by reference to Exhibit 1 to the Registration Statement of the Registrant on Form N-4, File No. 333-37907, filed on October 14, 1997);

 
 

(2)

Not Applicable;

 
 

(3)(a)

Distribution Agreement between the Depositor, Massachusetts Financial Services Company and Clarendon Insurance Agency, Inc. (Incorporated herein by reference to Exhibit 3(a) to Pre-Effective Amendment No. 1 to the Registration Statement of the Registrant on Form N-4, File No. 333-37907, filed on January 16, 1998);

 
 

(b)(i)

Specimen Sales Operations and General Agent Agreement (Incorporated herein by reference to Exhibit 3(b)(i) to Pre-Effective Amendment No. 1 to the Registration Statement of the Registrant on Form N-4, File No. 333-37907, filed on January 16, 1998);

 
 

(b)(ii)

Specimen Broker-Dealer Supervisory and Service Agreement (Incorporated herein by reference to Exhibit 3(b)(ii) to Pre-Effective Amendment No. 1 to the Registration Statement of the Registrant on Form N-4, File No. 333-37907, filed on January 16, 1998);

 
 

(b)(iii)

Specimen Registered Representatives Agent Agreement (Incorporated herein by reference to Exhibit 3(b)(iii) to Pre-Effective Amendment No. 1 to the Registration Statement of the Registrant on Form N-4, File No. 333-37907, filed on January 16, 1998);

 
 

(4)(a)

Form of Flexible Payment Combination Fixed/Variable Group Annuity Contract (Incorporated herein by reference to Pre-Effective Amendment No. 1 to the Registration Statement of the Registrant on Form N-4, File No. 333-82957, filed September 29, 1999);

 
 

(b)

Form of Certificate to be issued in connection with Contract filed as Exhibit 4(a) (Incorporated herein by reference to Pre-Effective Amendment No. 1 to the Registration Statement of the Registrant on Form N-4, File No. 333-82957, filed September 29, 1999);

 
 

(c)

Form of Flexible Payment Combination Fixed/Variable Individual Annuity Contract (Incorporated herein by reference to Pre-Effective Amendment No. 1 to the Registration Statement of the Registrant on Form N-4, File No. 333-82957, filed September 29, 1999);

 
 

(d)

Form of Qualified Plan Endorsement (Incorporated herein by reference to Post-Effective Amendment No. 1 to the Registration Statement of the Registrant on Form N-4, File No. 333-82957, filed February 3, 2000);

 
 

(e)

Form of Revised Specification Page to be issued in connection with certificate, filed as Exhibit 4(b);

 
 

(f)

Form of Revised Specification Page to be issued in connection with Individual Annuity Contract, filed as Exhibit 4(c);

 
 

(5)(a)

Form of Application to be used with Contract filed as Exhibit 4(a) (Incorporated herein by reference to Pre-Effective Amendment No. 1 to the Registration Statement of the Registrant on Form N-4, File No. 333-82957, filed September 29, 1999);

 
 

(b)

Form of Application to be used with Certificate filed as Exhibit 4(b) and Contract filed as Exhibit 4(c) (Incorporated herein by reference to Pre-Effective Amendment No. 1 to the Registration Statement of the Registrant on Form N-4, File No. 333-82957, filed September 29, 1999);

 
 

(c)

Form of Revised Application to be used with Certificate, filed as Exhibit 4(b) and Contract filed as Exhibit 4(c);

 
 

(6)(a)

Certificate of Incorporation and By-laws of the Depositor (Incorporated herein by reference to Exhibits 3(a) and 3(b), respectively, to the Registration Statement of the Depositor on Form S-1, File No. 333-37907, filed on October 14, 1997);

 
 

(b)

By-Laws of the Depositor, as amended effective as of January 1, 2000 (Incorporated herein by reference to Pre-Effective Amendment No. 1 to the Registration Statement on Form N-4, File No. 333-30844, filed on June 9, 2000;

 
 

(7)

Not Applicable;

 
 

(8)(a)

Form of Participation Agreement by and between The Alger American Fund, the Depositor, and Fred Alger and Company, Incorporated (Filed as Exhibit 8(a) to Post-Effective Amendment No. 13 to the Registration Statement of the Registrant on Form N-4, File No. 33-41628, filed April 26, 1999);

 
 

(b)(i)

Form of Participation Agreement dated February 17, 1998 by and between Goldman Sachs Variable, Insurance Trust, Goldman Sachs & Co. and the Depositor (Filed as Exhibit 8(b)(i) to Post-Effective Amendment No. 13 to Registrant's Registration Statement on Form N-4, File No. 33-41628, filed April 26, 1999);

 
 

(ii)

Form of Amendment No. 1 dated December 14, 1998 to Participation Agreement filed as Exhibit 8(b)(i) (Filed as Exhibit 8(b)(ii) to Post-Effective Amendment No. 13 to Registrant's Registration Statement on Form N-4, File No. 33-41628, filed April 26, 1999);

 
 

(iii)

Form of Amendment No. 2 dated as of March 15, 1999 to Participation Agreement filed as Exhibit 8(b)(i) (Filed as Exhibit 8(b)(iii) to Post-Effective Amendment No. 13 to Registrant's Registration Statement on Form N-4, File No. 33-41628, filed April 26, 1999);

 
 

(c)

Form of Fund Participation Agreement between Depositor and J.P. Morgan Services Trust II (Filed as Exhibit 8(c) to Post-Effective Amendment No. 13 to Registrant's Registration Statement on Form N-4, File No. 33-41628, filed April 26, 1999);

 
 

(d)

Form of Participation Agreement dated February 17, 1998 by and among MFS/Sun Life Services Trust, the Depositor and Massachusetts Financial Services Company (Filed as Exhibit 8(d) to Post-Effective Amendment No. 13 to Registrant's Registration Statement on Form N-4, File No. 33-41628, filed April 26, 1999);

 
 

(e)

Form of Participation Agreement dated February 17, 1998 by and among OCC Accumulation Trust, the Depositor and OCC Distributors (Filed as Exhibit 8(e) to Post-Effective Amendment No. 13 to Registrant's Registration Statement on Form N-4, File No. 33-41628, filed April 26, 1999);

 
 

(f)

Form of Participation Agreement dated February, 1998 by and among the Depositor, Warburg Pincus Trust, Warburg Pincus Asset Management, Inc. and Counsellors Securities, Inc. (Filed as Exhibit 8(f) to Post-Effective Amendment No. 13 to Registrant's Registration Statement on Form N-4, File No. 33-41628, filed April 26, 1999);

 
 

(g)

Form of Participation Agreement dated February 17, 1998 by and among the Depositor, AIM Variable Insurance Funds, Inc., AIM Distributors, Inc., and Clarendon Insurance Agency, Inc. (Filed as Exhibit 8(g) to Post-Effective Amendment No. 1 to Registrant's Registration Statement in Form N-4, File No. 333-82957, filed February 3, 2000);

 
 

(h)

Form of Participation Agreement dated August 18, 1999 by and among the Depositor, Sun Capital Advisers Trust and Sun Capital Advisers, Inc. (Filed as Exhibit 8(h) to Post-Effective Amendment No. 1 to Registrant's Registration Statement in Form N-4, File No. 333-82957, filed February 3, 2000);

 
 

(i)

Form of Participation Agreement dated April 30, 2001 by and among Rydex Variable Trust, Rydex Distributors, Inc., and Sun Life Assurance Company of Canada (U.S.).*

 
 

(j)

Form of Participation Agreement dated April 15, 2001 by and among Sun Life Assurance Company of Canada (U.S.), INVESCO Variable Investment Funds, Inc., INVESCO Funds Group, Inc., and INVESCO Distributors, Inc.*

 
 

(k)(i)

Form of Participation Agreement dated December 1, 1996 by and among Sun Life Assurance Company of Canada (U.S.), Variable Insurance Products Fund, and Fidelity Distributors Corporation. (Incorporated by reference from Pre-Effective Amendment No. 1 to the Registration Statement on Form S-6, File No. 333-13087, filed January 1, 1997).

 
 

(k)(ii)

Form of Amendment No. 1 dated May 1, 2001 to the Participation Agreement by and among Sun Life Assurance Company of Canada (U.S.), Variable Insurance Products Fund, and Fidelity Distributors Corporation.*

 
 

(l)

Form of Participation Agreement dated May 1, 2001 by and among Sun Life Assurance Company of Canada (U.S.), the Depositor, Alliance Capital Management L.P., and Alliance Fund Distributors, Inc.*

 
 

(9)

Opinion of Counsel as to the legality of the securities being registered and Consent to its use (Filed as Exhibit 9 to the Registration Statement of the Registrant on Form N-4, File No. 333-82957, filed July 15, 1999);

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(10)(a)

Consent of Independent Auditors (Incorporated by reference to Exhibit 10(a) to Post-Effective Amendment No. 8 to Registration Statement of the Registrant on Form N-4, File No. 333-82957, filed on April 23, 2002);

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(10)(b)

Representation of Counsel pursuant to Rule 485(b)*;

 
 

(11)

Financial Statement Schedules I and VI (Incorporated herein by reference to the Depositor's Form 10-K Annual Report for the fiscal year ended December 31, 1999, filed on March 22, 2000)

 
 

(12)

Not Applicable;

 
 

(13)

Schedule for Computation of Performance Quotations (Incorporated by reference to Exhibit 13 to Post-Effective Amendment No. 10 to the Registration Statement of the Registrant on Form N-4, File No. 33-41628, filed on April 29, 1998);

 
 

(14)

Not Applicable;

 
 

(15)

Powers of Attorney (Incorporated by reference from Exhibit 15 to Post-Effective Amendment No. 3 to the Registration Statement on Form N-4, File No. 333-30844, filed February 9, 2001)

 
 

(16)

Organizational Chart (Incorporated by reference to Exhibit 16 to Pre-Effective Amendment No. 1 to the Registration Statement of the Registrant on Form N-4, File No. 333-74844 filed on February 14, 2002).

* Filed herewith

Item 25. DIRECTORS AND OFFICERS OF THE DEPOSITOR

Name and

Principal Positions and Offices

Business Address

with Depositor

   

Donald A. Stewart

Chairman and Director

150 King Street West

 

Toronto, Ontario Canada M5H 1J9

 
   

C. James Prieur

Vice Chairman and Director

150 King Street West

 

Toronto, Ontario Canada M5H 1J9

 
   

James A. McNulty, III

President and Director

One Sun Life Executive Park

 

Wellesley Hills, MA 02481

 
   

David D. Horn

Director

257 Lake Street

 

P.O. Box 24

 

New Vineyard, ME 04956

 
   

Angus A. MacNaughton

Director

   

481 Kingswood Lane

 

Danville, CA 94506

 
   

S. Caesar Raboy

Director

220 Boylston Street

 

Boston, MA 02110

 
   

William W. Stinson

Director

   

1001 13th Avenue S.W.

 

Calgary, Alberta Canada T2R 0L5

 
   

James C. Baillie

Director

Torys

 

Suite 300, Maritime Life Tower

 

Toronto, Ontario M5K1N2

 
   

James M.A. Anderson

Vice President, Investments

One Sun Life Executive Park

 

Wellesley Hills, MA 02481

 
   

Robin L. Camara

Vice President, Human Resources &

One Sun Life Executive Park

Administrative Services

Wellesley Hills, MA 02481

 
   

Peter F. Demuth

Vice President and Chief Strategy and Business

One Sun Life Executive Park

Development Officer

Wellesley Hills, MA 02481

 
   

Mark W. DeTora

Vice President, Individual Insurance

One Sun Life Executive Park

 

Wellesley Hills, MA 02481

 
   

Ronald J. Fernandes

Vice President, Retirement

112 Worcester Street

Products and Services

Wellesley Hills, MA 02481

 
   

Ellen B. King

Assistant Vice President and Senior Counsel

One Sun Life Executive Park

and Secretary

Wellesley Hills, MA 02481

 
   

Philip K. Polkinghorn

Vice President, Retirement Products and Services

112 Worcester Street

 

Wellesley Hills, MA 02481

 
   

Davey S. Scoon

Vice President & Chief Administrative and Financial

One Sun Life Executive Park

Officer & Treasurer

Wellesley Hills, MA 02481

 
   

Michael E. Shunney

Vice President, Group Insurance

One Sun Life Executive Park

 

Wellesley Hills, MA 02481

 
   

James R. Smith

Vice President & Chief Information Officer

One Sun Life Executive Park

 

Wellesley Hills, MA 02481

 
   

Robert P. Vrolyk

Vice President and

One Sun Life Executive Park

Actuary

Wellesley Hills, MA 02481

 

Item 26. PERSONS CONTROLLED BY OR UNDER COMMON CONTROL WITH THE DEPOSITOR OR REGISTRANT

No person is directly or indirectly controlled by the Registrant. The Registrant is a separate account of Sun Life Assurance Company of Canada (U.S.), a wholly-owned subsidiary of Sun Life of Canada (U.S.) Holdings, Inc., a wholly-owned subsidiary of Sun Life Assurance Company of Canada - U.S. Operations Holdings, Inc., which is in turn a wholly-owned subsidiary of Sun Life Assurance Company of Canada.

The organization chart of Sun Life Assurance Company of Canada is filed as to Exhibit 16 to Pre-Effective Amendment No. 1 to the Registration Statement on Form N-4, file No. 333-74844, filed February 14, 2002.

None of the companies listed in Exhibit 16 is a subsidiary of the Registrant; therefore, the only financial statements being filed are those of Sun Life Assurance Company of Canada (U.S.).

Item 27. NUMBER OF CONTRACT OWNERS

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As of August 8, 2002, there were 6,090 qualified and 8,635 non-qualified Contracts issued and outstanding.

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Item 28. INDEMNIFICATION

Pursuant to Section 145 of the Delaware Corporation Law, Article 8 of the By-laws of Sun Life Assurance Company of Canada (U.S.), a copy of which was filed as Exhibit 3(b) to the Registration Statement of the Depositor on Form S-1, File No. 33-29851, provides for the indemnification of directors, officers and employees of Sun Life Assurance Company of Canada (U.S.).

Insofar as indemnification for liability arising under the Securities Act of 1933 may be permitted to directors, officers and controlling persons of Sun Life Assurance Company of Canada (U.S.) pursuant to the certificate of incorporation, by-laws, or otherwise, Sun Life (U.S.) has been advised that in the opinion of the Securities and Exchange Commission such indemnification is against public policy as expressed in the Act and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by Sun Life (U.S.) of expenses incurred or paid by a director, officer, controlling person of Sun Life (U.S.) in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, Sun Life (U.S.) will submit to a court of appropriate jurisdiction the question whether such indemnification by them is against public policy as expressed in the Act, unless in the opinion of their counsel the matter has been settled by controlling precedent, and will be governed by the final adjudication of such issue.

Item 29. PRINCIPAL UNDERWRITERS

(a) Clarendon Insurance Agency, Inc., a wholly-owned subsidiary of Sun Life Assurance Company of Canada (U.S.), acts as general distributor for the Registrant, Sun Life of Canada (U.S.) Variable Accounts C, D, E, G, H and I, Sun Life (N.Y.) Variable Accounts A, B and C, and Money Market Variable Account, High Yield Variable Account, Capital Appreciation Variable Account, Government Securities Variable Account, World Governments Variable Account, Total Return Variable Account, and Managed Sectors Variable Account.

Name and

Principal Positions and Officers

Business Address*

with Underwriter

   

William Franca

President

Davey S. Scoon

Treasurer and Director

Michael L. Gentile

Vice President

Imants Saksons

Vice President

James M. A. Anderson

Director

Ronald J. Fernandes

Director

James A. McNulty, III

Director

George E. Maden

Secretary and Clerk

William T. Evers

Assistant Secretary and Clerk

Maura A. Murphy

Assistant Secretary and Clerk

Norton A. Goss, II

Vice President & Chief Compliance Officer

Nancy C. Atherton

Tax Officer

------------------------

* The principal business address of all directors and officers of the principal underwriter, except for Messrs. Fernandes and Franca, is One Sun Life Executive Park, Wellesley Hills, Massachusetts 02481. The principal business address of Messrs. Fernandes and Franca is 112 Worcester Street, Wellesley Hills, MA 02481.

(a) Inapplicable.

Item 30. LOCATION OF ACCOUNTS AND RECORDS

Accounts, books and other documents required to be maintained by Section 31(a) of the Investment Company Act of 1940 and the Rules promulgated thereunder are maintained, in whole or in part, by Sun Life Assurance Company of Canada (U.S.) at its offices at One Sun Life Executive Park, Wellesley Hills, Massachusetts 02481, or at the offices of Clarendon Insurance Agency, Inc., at One Sun Life Executive Park, Wellesley Hills, Massachusetts 02481.

Item 31. MANAGEMENT SERVICES

Not Applicable. Item 32. UNDERTAKINGS

The Registrant hereby undertakes: (a) To file a post-effective amendment to this Registration Statement as frequently as is necessary to ensure that the audited financial statements in the Registration Statement are never more than 16 months old for so long as payments under the variable annuity Contracts may be accepted; (b) To include either (1) as part of any application to purchase a Contract offered by the prospectus, a space that an Applicant can check to request a Statement of Additional Information, or (2) a post card or simiilar written communication affixed to or included in the prospectus that the Applicant can remove to send for a Statement of Additional Information; (c) To deliver any Statement of Additional Information and any financial statements required to be made available under SEC Form N-4 promptly upon written or oral request. (d) Representation with respect to Section 26(e)of the Investment Company Act of 1940: Sun Life Assurance Company of Canada (U.S.) represents that the fees and charges deducted under the Contracts, in the aggregate, are reasonable in relation to the services rendered, the expenses expected to be incurred, and the risks assumed by the insurance company. The Registrant is relying on the no-action letter issued by the Division of Investment Management of the Securities and Exchange Commission to American Council of Life Insurance, Ref. No. IP-6-88, dated November 28, 1988, the requirements for which have been complied with by the Registrant.

 

 

SIGNATURES

<R>

As required by the Securities Act of 1933 and the Investment Company Act of 1940, the Registrant certifies that it meets all of the requirements of Securities Act Rule 485(b) for effectiveness of this Amendment to the Registration Statement and has caused this Post-Effective Amendment to be signed on its behalf, in the Town of Wellesley Hills, and Commonwealth of Massachusetts on this 16th day of August, 2002.

</R>

 

SUN LIFE OF CANADA (U.S.) VARIABLE ACCOUNT F

 

(Registrant)

 
 

SUN LIFE ASSURANCE COMPANY OF CANADA (U.S.)

 

(Depositor)

 
 

By: /s/ JAMES A. MCNULTY, III

 

James A. McNulty, III President

Attest: /s/ SANDRA M. DADALT

Sandra M. DaDalt

Senior Counsel

 

As required by the Securities Act of 1933, this Registration Statement has been signed below by the following persons in the capacities with the Depositor, Sun Life Assurance Company of Canada (U.S.), and on the dates indicated.

<R>

SIGNATURE

TITLE

DATE

     

/s/ JAMES A. MCNULTY, III

President and Director

August 16, 2002

James A. McNulty, III

(Principal Executive Officer)

 
     

/s/ DAVEY S. SCOON

Vice President & Chief Administrative and

August 16, 2002

Davey S. Scoon

Financial Officer & Treasurer

 
 

(Principal Financial and Accounting Officer)

 
     
     

/s/SANDRA M. DADALT

Attorney-in-Fact for:

August 16, 2002

Sandra M. DaDalt

Donald A. Stewart, Chairman and Director

 
 

C. James Prieur, Vice Chairman and Director

 
 

James C. Baillie, Director

 
 

David D. Horn, Director

 
 

Angus A. MacNaughton, Director

 

S. Caesar Raboy, Director

 
 

William W. Stinson, Director

 

</R>

 

 

EXHIBIT INDEX

 

 

 

10 (b) Representation of Counsel