-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, WWb1lfWCZ/y9n0bxKVI1Rwz8PADValaWgPLxxn0cBgy0+8SjF0AxvjPL+U2n9f0B c9RKBsmrZN9L0yz6tvC5FA== 0000912057-01-525612.txt : 20010730 0000912057-01-525612.hdr.sgml : 20010730 ACCESSION NUMBER: 0000912057-01-525612 CONFORMED SUBMISSION TYPE: 485BPOS PUBLIC DOCUMENT COUNT: 3 FILED AS OF DATE: 20010727 EFFECTIVENESS DATE: 20010727 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SUN LIFE OF CANADA U S VARIABLE ACCOUNT F CENTRAL INDEX KEY: 0000853285 STANDARD INDUSTRIAL CLASSIFICATION: UNKNOWN SIC - 0000 [0000] IRS NUMBER: 042461439 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 485BPOS SEC ACT: SEC FILE NUMBER: 333-31248 FILM NUMBER: 1691367 FILING VALUES: FORM TYPE: 485BPOS SEC ACT: SEC FILE NUMBER: 811-05846 FILM NUMBER: 1691368 BUSINESS ADDRESS: STREET 1: 500 BOYLSTON ST STREET 2: 15TH FL CITY: BOSTON STATE: MA ZIP: 02116 BUSINESS PHONE: 6179545244 MAIL ADDRESS: STREET 1: 500 BOYLSTON ST STREET 2: 15TH FL CITY: BOSTON STATE: MA ZIP: 02116 485BPOS 1 a2054402z485bpos.txt 485BPOS As Filed with the Securities and Exchange Commission on July 27, 2001 REGISTRATION NO. 333-31248 811-05846 - -------------------------------------------------------------------------------- SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 ------------ POST-EFFECTIVE AMENDMENT NO. 4 /X/ TO FORM N-4 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 AND AMENDMENT NO. 33 /X/ TO REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY ACT OF 1940 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.) ONE COPLEY PLACE BOSTON, MASSACHUSETTS 02116 (Name and Address of Agent for Service) COPIES OF COMMUNICATIONS TO: JOAN E. BOROS, ESQ. JORDEN BURT BOROS CICCHETTI BERENSON & JOHNSON 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 /X/ ON AUGUST 1, 2001 PURSUANT TO PARAGRAPH (b) OF RULE 485 / / 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. PART A INFORMATION REQUIRED IN A PROSPECTUS Attached hereto and made a part hereof is a Supplement to the Profile and Prospectus dated May 1, 2001 (incorporated herein by reference from Post-Effective Amendment No. 3 to the Registration Statement on Form N-4 (File No. 333-31248) filed April 23, 2001) for each of the following: MFS Regatta Access Variable and Fixed Annuity Futurity Focus II Variable and Fixed Annuity SUPPLEMENT DATED AUGUST 1, 2001 TO PROFILE DATED MAY 1, 2001, AS SUPPLEMENTED AND PROSPECTUS DATED MAY 1, 2001, AS SUPPLEMENTED FOR MFS REGATTA ACCESS VARIABLE AND FIXED ANNUITY ISSUED BY SUN LIFE ASSURANCE COMPANY OF CANADA (U.S.) Beginning on August 27, 2001, with the addition of a new class of shares -- the "Service Class shares" -- to the MFS/Sun Life Series Trust ("the Series Fund"), the following 31 corresponding Sub-Accounts will be added to the MFS Regatta Access Variable and Fixed Annuity Contracts (the "Contracts"): Bond -- S Class Managed Sectors -- S Class Capital Appreciation -- S Class Massachusetts Investors Growth Stock -- S Class Capital Opportunities -- S Class Massachusetts Investors Trust -- S Class Emerging Growth -- S Class Mid Cap Growth -- S Class Emerging Markets Equity -- S Class Money Market -- S Class Global Asset Allocation -- S Class New Discovery -- S Class Global Governments -- S Class Research -- S Class Global Growth -- S Class Research Growth and Income -- S Class Global Health Sciences -- S Class Research International -- S Class Global Telecommunications -- S Class Strategic Growth -- S Class Global Total Return -- S Class Strategic Income -- S Class Government Securities -- S Class Technology -- S Class High Yield -- S Class Total Return -- S Class International Growth -- S Class Utilities -- S Class International Investors Trust -- S Class Value -- S Class International New Discovery -- S Class
This Supplement describes the fees and performance information associated with the Series Fund's Service Class (the "S Class") shares. The S Class shares are the same as the shares (referred to herein as the "Initial Class" shares) currently offered in the Series Fund's Prospectus, dated May 1, 2001, except that the S Class shares are subject to a distribution fee equal to 0.25% of each Fund's daily net assets. The INITIAL CLASS SHARES are only available to owners of a MFS Regatta Access Variable and Fixed Annuity Contract who opened their Contracts BEFORE August 27, 2001. (A Contract is considered "opened" once we have received a completed Application in good order.) Subsequent payments and transfers by such Contract owners will continue to purchase Initial Class shares. Owners of a MFS Regatta Access Variable and Fixed Annuity Contract who opened their Contracts ON OR AFTER August 27, 2001, will only be able to purchase S CLASS SHARES. Subsequent payments and transfers by such Contract owners will continue to purchase S Class shares. At present, the INTERNATIONAL NEW DISCOVERY SERIES and GLOBAL HEALTH SCIENCES SERIES of the MFS/Sun Life Series Trust are not available for sale and, therefore, neither share class of these two Series is available for investment. We do not know at this time when or if these two Series will be made available. YOUR INVESTMENT DECISION TO PURCHASE A CONTRACT SHOULD NOT ASSUME THE FUTURE AVAILABILITY OF THESE SERIES. As a result of the addition of the S Class shares, the Profile dated May 1, 2001, as supplemented (the "Profile"), and the Prospectus dated May 1, 2001, as supplemented (the "Prospectus"), are further supplemented as follows: 1. The list of the available investment options appearing in Section 4, "Allocation Options," of the Profile and on the cover page of the Prospectus is hereby supplemented by the addition of the 31 Sub-Accounts listed above. 2. The summary expense chart appearing in Section 5, "Expenses," of the Profile is supplemented by adding the following Sub-Accounts to the chart:
EXAMPLES: TOTAL TOTAL TOTAL EXPENSES AT END ANNUAL ANNUAL TOTAL NO RIDERS (A) WITH RIDER (B) INSURANCE FUND ANNUAL ------------------- ------------------- CHARGES EXPENSES EXPENSES 1 YEAR 10 YEARS 1 YEAR 10 YEARS --------- -------- -------- -------- -------- -------- -------- Bond -- S Class 1.50% 0.97% 2.47% $25 $281 $29 $319 Capital Appreciation -- S Class 1.50% 1.00% 2.50% $25 $284 $29 $322 Capital Opportunities -- S Class 1.50% 1.04% 2.54% $26 $288 $30 $326 Emerging Growth -- S Class 1.50% 0.99% 2.49% $25 $283 $29 $321 Emerging Markets Equity -- S Class 1.50% 1.82% 3.32% $33 $361 $37 $397 Global Asset Allocation -- S Class 1.50% 1.15% 2.65% $27 $298 $31 $336 Global Governments -- S Class 1.50% 1.19% 2.69% $27 $302 $31 $340 Global Growth -- S Class 1.50% 1.29% 2.79% $28 $312 $32 $349 Global Health Sciences -- S Class 1.50% 1.50% 3.00% $30 $332 $34 $368 Global Telecommunications -- S Class 1.50% 1.53% 3.03% $31 $335 $35 $371 Global Total Return -- S Class 1.50% 1.16% 2.66% $27 $299 $31 $337 Government Securities -- S Class 1.50% 0.87% 2.37% $24 $271 $28 $310 High Yield -- S Class 1.50% 1.08% 2.58% $26 $291 $30 $330 International Growth -- S Class 1.50% 1.49% 2.99% $30 $331 $34 $368 International Investors Trust -- S Class 1.50% 1.46% 2.96% $30 $328 $34 $365 International New Discovery -- S Class 1.50% 1.48% 2.98% $30 $330 $34 $367 Managed Sectors -- S Class 1.50% 1.01% 2.51% $25 $285 $29 $323 Massachusetts Investors Growth Stock -- S Class 1.50% 1.06% 2.56% $26 $290 $30 $328 Massachusetts Investors Trust -- S Class 1.50% 0.85% 2.35% $24 $269 $28 $308 Mid Cap Growth -- S Class 1.50% 1.14% 2.64% $27 $297 $31 $336 Money Market -- S Class 1.50% 0.83% 2.33% $24 $267 $28 $306 New Discovery -- S Class 1.50% 1.24% 2.74% $28 $307 $32 $345 Research -- S Class 1.50% 0.99% 2.49% $25 $283 $29 $321 Research Growth and Income -- S Class 1.50% 1.13% 2.63% $27 $296 $31 $335 Research International -- S Class 1.50% 1.53% 3.03% $31 $335 $35 $371 Strategic Growth -- S Class 1.50% 1.19% 2.69% $27 $302 $31 $340 Strategic Income -- S Class 1.50% 1.23% 2.73% $28 $306 $32 $344 Technology -- S Class 1.50% 1.17% 2.67% $27 $300 $31 $338 Total Return -- S Class 1.50% 0.95% 2.45% $25 $279 $29 $318 Utilities -- S Class 1.50% 1.05% 2.55% $26 $289 $30 $327 Value -- S Class 1.50% 1.12% 2.62% $27 $295 $30 $334
2 4. The performance chart appearing in Section 8, "Performance," of the Profile is supplemented by adding the following Sub-Accounts to the chart:
SUB-ACCOUNT 2000 1999 1998 1997 1996 1995 1994 1993 1992 1991 1990 ----------- -------- ------- -------- ------- ------- ------ ------- ------ ------- ------ -------- Bond -- S Class 8.36% (3.45)% -- -- -- -- -- -- -- -- -- Capital Appreciation -- S Class (12.97)% 30.34% 26.44% 20.93% 19.30% 32.08% (5.37)% 15.89% 11.15% 38.44% (11.34)% Capital Opportunities -- S Class (6.52)% 45.09% 24.72% 25.32% -- -- -- -- -- -- -- Emerging Growth -- S Class (20.51)% 72.82% 31.51% 19.76% 14.99% -- -- -- -- -- -- Emerging Markets Equity -- S Class (24.10)% 49.88% (31.27)% 8.41% -- -- -- -- -- -- -- Global Asset Allocation -- S Class (4.00)% 16.48% 4.64% 8.87% 13.89% 19.45% -- -- -- -- -- Global Governments -- S Class (0.46)% (6.85)% 13.42% (2.58)% 2.75% 13.62% (6.24)% 16.77% (1.36)% 12.72% 11.29% Global Growth -- S Class (14.65)% 64.46% 12.51% 13.25% 11.04% 13.90% 1.05% -- -- -- -- Global Total Return -- S Class 0.54% 6.53% 16.25% 11.60% 12.20% 15.80% -- -- -- -- -- Government Securities -- S Class 10.19% (3.65)% 6.79% 6.78% (0.24)% 15.53% (3.95)% 6.70% 4.78% 13.79% 6.89% High Yield -- S Class (8.40)% 4.98% (1.21)% 11.17% 10.08% 14.93% (4.02)% 15.62% 12.96% 45.03% (15.96)% International Growth -- S Class (9.41)% 32.98% 0.08% (3.43)% -- -- -- -- -- -- -- International Investors Trust -- S Class (4.07)% 15.24% 19.46% 4.59% 2.97% -- -- -- -- -- -- Managed Sectors -- S Class (22.22)% 82.45% 10.32% 23.39% 15.47% 29.92% (3.72)% 2.16% 4.55% 59.17% (12.12)% Massachusetts Investors Growth Stock -- S Class (7.76)% 33.44% -- -- -- -- -- -- -- -- -- Massachusetts Investors Trust -- S Class (1.64)% 5.32% 21.65% 29.62% 23.16% 35.00% (2.91)% 6.45% 3.69% -- -- Money Market -- S Class 4.13% 2.85% 3.14% 3.16% 3.01% 3.54% 1.82% 0.76% 1.46% 3.87% 5.89% New Discovery -- S Class (1.36)% 57.45% -- -- -- -- -- -- -- -- -- Research -- S Class (5.79)% 22.00% 21.45% 18.66% 21.60% 35.00% -- -- -- -- -- Research Growth and Income -- S Class 1.32% 6.27% 20.01% -- -- -- -- -- -- -- -- Research International -- S Class (9.57)% 52.30% -- -- -- -- -- -- -- -- -- Strategic Growth -- S Class (11.56)% 19.28% -- -- -- -- -- -- -- -- -- Strategic Income -- S Class 1.12% 21.38% -- -- -- -- -- -- -- -- -- Total Return -- S Class 14.79% 1.03% 9.76% 19.78% 12.00% 24.52% (4.05)% 11.34% 6.40% 19.47% 0.80% Utilities -- S Class 5.14% 29.00% 15.50% 30.37% 18.17% 30.05% (6.69)% -- -- -- -- Value -- S Class 28.03% 5.18% -- -- -- -- -- -- -- -- --
3 5. The "Underlying Fund Annual Expenses" table appearing on page 5 of the Prospectus is supplemented by adding the fees associated with the S Class shares of the Funds as follows:
OTHER FUND TOTAL ANNUAL FUND EXPENSES EXPENSES MANAGEMENT AFTER 12B-1 OR AFTER AND BEFORE FUND FEES REIMBURSEMENT(2) SERVICE FEES REIMBURSEMENT(2) - ---- ---------- ---------------- ------------ --------------------------------- Bond -- S Class 0.60% 0.12% 0.25% 0.97% Capital Appreciation -- S Class 0.71% 0.04% 0.25% 1.00% Capital Opportunities -- S Class 0.71% 0.08% 0.25% 1.04% Emerging Growth -- S Class 0.69% 0.05% 0.25% 0.99% Emerging Markets Equity -- S Class 1.25% 0.32% 0.25% 1.82% Global Asset Allocation -- S Class 0.75% 0.15% 0.25% 1.15% Global Governments -- S Class 0.75% 0.19% 0.25% 1.19% Global Growth -- S Class 0.90% 0.14% 0.25% 1.29% Global Health Sciences -- S Class (3) 1.00% 0.25% 0.25% 1.50% [1.71%] Global Telecommunications -- S Class (3) 1.00% 0.28% 0.25% 1.53% [8.75%] Global Total Return -- S Class 0.75% 0.16% 0.25% 1.16% Government Securities -- S Class 0.55% 0.07% 0.25% 0.87% High Yield -- S Class 0.75% 0.08% 0.25% 1.08% International Growth -- S Class 0.98% 0.26% 0.25% 1.49% International Investors Trust -- S Class 0.98% 0.23% 0.25% 1.46% International New Discovery -- S Class (3) 0.98% 0.25% 0.25% 1.48% [1.69%] Managed Sectors -- S Class 0.71% 0.05% 0.25% 1.01% Massachusetts Investors Growth Stock -- S Class 0.75% 0.06% 0.25% 1.06% Massachusetts Investors Trust -- S Class 0.55% 0.05% 0.25% 0.85% Mid Cap Growth -- S Class 0.75% 0.14% 0.25% 1.14% Money Market -- S Class 0.50% 0.08% 0.25% 0.83% New Discovery -- S Class 0.90% 0.09% 0.25% 1.24% Research -- S Class 0.69% 0.05% 0.25% 0.99% Research Growth and Income -- S Class 0.75% 0.13% 0.25% 1.13% Research International -- S Class 1.00% 0.28% 0.25% 1.53% Strategic Growth -- S Class 0.75% 0.19% 0.25% 1.19% Strategic Income -- S Class 0.75% 0.23% 0.25% 1.23% Technology -- S Class 0.75% 0.17% 0.25% 1.17% Total Return -- S Class 0.66% 0.04% 0.25% 0.95% Utilities -- S Class 0.72% 0.08% 0.25% 1.05% Value -- S Class 0.75% 0.12% 0.25% 1.12%
4 6. Footnote (2) to the "Underlying Fund Annual Expenses" table appearing on page 5 of the Prospectus is supplemented with the addition of the following fee reimbursements associated with S Class shares of the Funds: Bond -- S Class 0.95% Capital Appreciation -- S Class 0.99% Emerging Growth -- S Class 0.98% Emerging Markets Equity -- S Class 1.80% Global Asset Allocation -- S Class 1.14% Global Governments -- S Class 1.18% Global Growth -- S Class 1.28% Global Telecommunications -- S Class 1.50% Global Total Return -- S Class 1.15% High Yield -- S Class 1.07% International Growth -- S Class 1.48% Massachusetts Investors Trust -- S Class 0.84% Mid Cap Growth -- S Class 1.12% Research Growth and Income -- S Class 1.12% Research International -- S Class 1.52% Strategic Growth -- S Class 1.17% Strategic Income -- S Class 1.21% Technology -- S Class 1.15% Total Return -- S Class 0.94% Utilities -- S Class 1.04% Value -- S Class 1.11%
7. Footnote (3) to the "Underlying Fund Annual Expenses" table appearing on page 6 of the Prospectus is replaced with the following paragraph: (3) MFS has contractually agreed to bear the expenses of each of the two classes (Initial Class and S Class) of the Global Health Science Series, Global Telecommunications Series, and International New Discovery Series such that "Other Fund Expenses," after taking into account the expense offset arrangement described in Footnote (2), above, do not exceed 0.25% annually. These contractual fee arrangements will continue until at least May 1, 2002, unless changed with the consent of the Series Fund's Board of Directors; provided, however, that a Fund's contractual fee arrangement will terminate prior to May 1, 2002, in the event that the Fund's "Other Fund Expenses" equal or fall below 0.25% annually. 5 8. The "Examples" presented on pages 7 and 8 of the Prospectus are supplemented by adding the following examples: If you do or do not surrender your Contract, or if you annuitize 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 $50,000, and no optional death benefit riders have been elected:
1 YEAR 3 YEARS 5 YEARS 10 YEARS -------- -------- -------- -------- Bond -- S Class $25 $ 77 $132 $281 Capital Appreciation -- S Class $25 $ 78 $133 $284 Capital Opportunities -- S Class $26 $ 79 $135 $288 Emerging Growth -- S Class $25 $ 78 $133 $283 Emerging Markets Equity -- S Class $33 $102 $173 $361 Global Asset Allocation -- S Class $27 $ 82 $141 $298 Global Governments -- S Class $27 $ 84 $142 $302 Global Growth -- S Class $28 $ 87 $147 $312 Global Health Sciences -- S Class $30 $ 93 $158 $332 Global Telecommunications -- S Class $31 $ 94 $159 $335 Global Total Return -- S Class $27 $ 83 $141 $299 Government Securities -- S Class $24 $ 74 $127 $271 High Yield -- S Class $26 $ 80 $137 $291 International Growth -- S Class $30 $ 92 $157 $331 International Investors Trust -- S Class $30 $ 92 $156 $328 International New Discovery -- S Class $30 $ 92 $157 $330 Managed Sectors -- S Class $25 $ 78 $134 $285 Massachusetts Investors Growth Stock -- S Class $26 $ 80 $136 $290 Massachusetts Investors Trust -- S Class $24 $ 73 $126 $269 Mid Cap Growth -- S Class $27 $ 82 $140 $297 Money Market -- S Class $24 $ 73 $125 $267 New Discovery -- S Class $28 $ 85 $145 $307 Research -- S Class $25 $ 78 $133 $283 Research Growth and Income -- S Class $27 $ 82 $140 $296 Research International -- S Class $31 $ 94 $159 $335 Strategic Growth -- S Class $27 $ 84 $142 $302 Strategic Income -- S Class $28 $ 85 $144 $306 Technology -- S Class $27 $ 83 $141 $300 Total Return -- S Class $25 $ 76 $131 $279 Utilities -- S Class $26 $ 79 $136 $289 Value -- S Class $27 $ 81 $139 $295
If you do or do not surrender your Contract, or if you annuitize your Contract, at the end of the applicable period, you would pay the following expenses on a $1,000 investment, assuming a 5% annual 6 return, an average Contract size of $50,000, and the EEB Plus MAV optional death benefit rider has been elected:
1 YEAR 3 YEARS 5 YEARS 10 YEARS -------- -------- -------- -------- Bond -- S Class $29 $ 89 $151 $319 Capital Appreciation -- S Class $29 $ 90 $153 $322 Capital Opportunities -- S Class $30 $ 91 $155 $326 Emerging Growth -- S Class $29 $ 89 $152 $321 Emerging Markets Equity -- S Class $37 $114 $192 $397 Global Asset Allocation -- S Class $31 $ 94 $160 $336 Global Governments -- S Class $31 $ 95 $162 $340 Global Growth -- S Class $32 $ 98 $167 $349 Global Health Sciences -- S Class $34 $104 $177 $368 Global Telecommunications -- S Class $35 $105 $178 $371 Global Total Return -- S Class $31 $ 95 $161 $337 Government Securities -- S Class $28 $ 86 $146 $310 High Yield -- S Class $30 $ 92 $157 $330 International Growth -- S Class $34 $104 $176 $368 International Investors Trust -- S Class $34 $103 $175 $365 International New Discovery -- S Class $34 $104 $176 $367 Managed Sectors -- S Class $29 $ 90 $153 $323 Massachusetts Investors Growth Stock -- S Class $30 $ 92 $156 $328 Massachusetts Investors Trust -- S Class $28 $ 85 $145 $308 Mid Cap Growth -- S Class $31 $ 94 $160 $336 Money Market -- S Class $28 $ 85 $144 $306 New Discovery -- S Class $32 $ 97 $164 $345 Research -- S Class $29 $ 89 $152 $321 Research Growth and Income -- S Class $31 $ 94 $159 $335 Research International -- S Class $35 $105 $178 $371 Strategic Growth -- S Class $31 $ 95 $162 $340 Strategic Income -- S Class $32 $ 97 $164 $344 Technology -- S Class $31 $ 95 $161 $338 Total Return -- S Class $29 $ 88 $150 $318 Utilities -- S Class $30 $ 91 $155 $327 Value -- S Class $30 $ 93 $159 $334
THESE EXAMPLES SHOULD NOT BE CONSIDERED TO BE REPRESENTATIONS OF PAST OR FUTURE EXPENSES, AND ACTUAL EXPENSES MAY BE GREATER OR LOWER THAN THOSE SHOWN. THE EXAMPLES ASSUME THAT ALL CURRENT WAIVERS AND REIMBURSEMENTS CONTINUE THROUGHOUT ALL PERIODS. 9. The second paragraph under "Variable Account Options: The MFS/Sun Life Series Trust," beginning on page 10 of the Prospectus is replaced by the following: "The Series Fund is composed of 31 independent portfolios of securities, each of which has separate investment objectives and policies. Shares of the Series Fund are issued in 31 series (each, a "Fund"), each corresponding to one of the portfolios. Each Fund offers two share classes: an Initial Class and a Service Class (or "S Class"). The Contract provides for investment by the Sub-Accounts in both share classes of 29 of the Funds. (NEITHER SHARE CLASS OF THE INTERNATIONAL NEW DISCOVERY SERIES AND GLOBAL HEALTH SCIENCES SERIES ARE PRESENTLY AVAILABLE FOR SALE.) Additional portfolios may be added to the Series Fund which may or may not be available for investment by the Variable Account." THIS SUPPLEMENT IS NOT VALID UNLESS ACCOMPANIED OR PRECEDED BY THE CURRENT PROSPECTUS FOR THE MFS REGATTA ACCESS VARIABLE AND FIXED ANNUITY, AND THE CURRENT FUND PROSPECTUS AS SUPPLEMENTED. ALL SUPPLEMENTS AND THE PROSPECTUSES SHOULD BE READ AND RETAINED FOR FUTURE REFERENCE. ACCESS SUPP 08/2001 7 SUPPLEMENT DATED AUGUST 1, 2001 TO PROFILE DATED MAY 1, 2001, AS SUPPLEMENTED AND PROSPECTUS DATED MAY 1, 2001, AS SUPPLEMENTED FOR FUTURITY FOCUS II VARIABLE AND FIXED ANNUITY ISSUED BY SUN LIFE ASSURANCE COMPANY OF CANADA (U.S.) Beginning on August 27, 2001, with the addition of a new class of shares -- the "Service Class shares" -- to the MFS/Sun Life Series Trust ("the Series Fund"), the following 9 corresponding investment options will be added to the Futurity Focus II Variable and Fixed Annuity Contracts (the "Contracts"): MFS/Sun Life Capital Appreciation -- S Class MFS/Sun Life Emerging Growth -- S Class MFS/Sun Life Government Securities -- S Class MFS/Sun Life High Yield -- S Class MFS/Sun Life Massachusetts Investors Growth Stock -- S Class MFS/Sun Life Massachusetts Investors Trust -- S Class MFS/Sun Life New Discovery -- S Class MFS/Sun Life Total Return -- S Class MFS/Sun Life Utilities -- S Class This Supplement describes the fees and performance information associated with the Series Fund's Service Class (the "S Class") shares. The S Class shares are the same as the shares (referred to herein as the "Initial Class" shares) currently offered in the Series Fund's Prospectus, dated May 1, 2001, except that the S Class shares are subject to a distribution fee equal to 0.25% of each Fund's daily net assets. The INITIAL CLASS SHARES are only available to owners of a Futurity Focus II Variable and Fixed Annuity Contract who opened their Contracts BEFORE August 27, 2001. (A Contract is considered "opened" once we have received a completed Application in good order.) Subsequent payments and transfers by such Contract owners will continue to purchase Initial Class shares. Owners of a Futurity Focus II Variable and Fixed Annuity Contract who opened their Contracts ON OR AFTER August 27, 2001, will only be able to purchase S CLASS SHARES. Subsequent payments and transfers by such Contract owners will continue to purchase S Class shares. As a result of the addition of the S Class shares, the Profile dated May 1, 2001, as supplemented (the "Profile"), and the Prospectus dated May 1, 2001, as supplemented (the "Prospectus"), are further supplemented as follows: 1. The list of the available Sub-Accounts appearing in Section 4, "Allocation Options," of the Profile and on the cover page of the Prospectus is hereby supplemented by the adding, under the heading "MFS/Sun Life Series Trust" the 9 Sub-Accounts listed above. 2. The summary expense chart appearing in Section 5, "Expenses," of the Profile is supplemented by adding the following Sub-Accounts to the chart:
EXAMPLES: TOTAL TOTAL TOTAL EXPENSE AT END ANNUAL ANNUAL TOTAL NO RIDERS (A) WITH RIDER (B) INSURANCE FUND ANNUAL ------------------- ------------------- SUB-ACCOUNTS CHARGES EXPENSES EXPENSES 1 YEAR 10 YEARS 1 YEAR 10 YEARS - ------------ --------- -------- -------- -------- -------- -------- -------- MFS/Sun Life Capital Appreciation -- S Class 1.50% 1.00% 2.50% $25 $284 $29 $322 MFS/Sun Life Emerging Growth -- S Class 1.50% 0.99% 2.49% $25 $283 $29 $321 MFS/Sun Life Government Securities -- S Class 1.50% 0.87% 2.37% $24 $271 $28 $310 MFS/Sun Life High Yield -- S Class 1.50% 1.08% 2.58% $26 $291 $30 $330 MFS/Sun Life Massachusetts Investors Growth Stock -- S Class 1.50% 1.06% 2.56% $26 $290 $30 $328 MFS/Sun Life Massachusetts Investors Trust -- S Class 1.50% 0.85% 2.35% $24 $269 $28 $308 MFS/Sun Life New Discovery -- S Class 1.50% 1.24% 2.74% $28 $307 $32 $345 MFS/Sun Life Total Return -- S Class 1.50% 0.95% 2.45% $25 $279 $29 $318 MFS/Sun Life Utilities -- S Class 1.50% 1.05% 2.55% $26 $289 $30 $327
4. The performance chart appearing in Section 8, "Performance," of the Profile is supplemented by adding the following Sub-Accounts to the chart:
SUB-ACCOUNT 2000 1999 1998 1997 1996 1995 1994 1993 1992 1991 1990 ----------- -------- ------- ------- ------ ------- ------ ------- ------ ------ ------ -------- MFS/Sun Life Capital Appreciation -- S Class (13.50)% 29.81% 25.95% 20.48% 18.84% 31.62% (5.81)% 15.42% 11.10% 38.05% (11.83)% MFS/Sun Life Emerging Growth -- S Class (20.75)% 72.58% 31.35% 19.59% 14.87% -- -- -- -- -- -- MFS/Sun Life Government Securities -- S Class 10.04% (3.80)% 6.70% 6.68% (0.29)% 15.48% (4.07)% 6.66% 4.81% 13.67% 6.87% MFS/Sun Life High Yield -- S Class (8.47)% 4.91% (1.15)% 11.21% 10.10% 14.85% (3.93)% 15.57% 12.94% 44.93% (15.76)% MFS/Sun Life Massachusetts Investors Growth Stock -- S Class (7.94)% 33.26% -- -- -- -- -- -- -- -- -- MFS/Sun Life Massachusetts Investors Trust -- S Class (1.82)% 5.14% 21.53% 29.49% 23.06% 34.88% (3.00)% 6.37% 3.69% -- -- MFS/Sun Life New Discovery -- S Class (1.54)% 57.29% -- -- -- -- -- -- -- -- -- MFS/Sun Life Total Return -- S Class 14.61% 0.88% 9.59% 19.70% 11.93% 24.36% (4.10)% 11.22% 6.51% 19.34% 0.71% MFS/Sun Life Utilities -- S Class 5.13% 29.00% 15.52% 30.43% 18.28% 30.09% (6.61)% -- -- -- --
2 5. The "Underlying Fund Annual Expenses" table appearing on pages 6 and 7 of the Prospectus is supplemented by adding the following S Class shares of the Series Fund:
OTHER TOTAL ANNUAL FUND FUND EXPENSES EXPENSES MANAGEMENT AFTER 12B-1 OR AFTER AND BEFORE FUND FEES REIMBURSEMENT(2) SERVICE FEES REIMBURSEMENT(2) - ---- ---------- ---------------- ------------ ----------------- MFS/ Sun Life Capital Appreciation -- S Class (9) 0.71% 0.04% 0.25% 1.00% MFS/ Sun Life Emerging Growth -- S Class (9) 0.69% 0.05% 0.25% 0.99% MFS/ Sun Life Government Securities -- S Class 0.55% 0.07% 0.25% 0.87% MFS/ Sun Life High Yield -- S Class (9) 0.75% 0.08% 0.25% 1.08% MFS/ Sun Life Massachusetts Investors Growth Stock -- S Class 0.75% 0.06% 0.25% 1.06% MFS/ Sun Life Massachusetts Investors Trust -- S Class (9) 0.55% 0.05% 0.25% 0.85% MFS/ Sun Life New Discovery -- S Class 0.90% 0.09% 0.25% 1.24% MFS/ Sun Life Total Return -- S Class (9) 0.66% 0.04% 0.25% 0.95% MFS/ Sun Life Utilities -- S Class (9) 0.72% 0.08% 0.25% 1.05%
- ------------------------ 6. Footnote (9) to the "Underlying Fund Annual Expenses" table appearing on page 8 of the Prospectus is supplemented with the addition of the following S class shares of the Series Fund: Capital Appreciation -- S Class 0.99% Emerging Growth -- S Class 0.98% High Yield -- S Class 1.07% Massachusetts Investors Trust -- S Class 0.84% Total Return -- S Class 0.94% Utilities -- S Class 1.04%
7. The "Examples" presented on pages 9 through 11 of the Prospectus are supplemented by adding the following examples: If you do or do not surrender your Contract, or it 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 $50,000, and no optional death benefit riders have been elected:
1 YEAR 3 YEARS 5 YEARS 10 YEARS -------- -------- -------- -------- MFS Sun Life Capital Appreciation -- S Class $25 $78 $133 $284 MFS Sun Life Emerging Growth -- S Class $25 $78 $133 $283 MFS Sun Life Government Securities -- S Class $24 $74 $127 $271 MFS Sun Life High Yield -- S Class $26 $80 $137 $291 MFS Sun Life Massachusetts Investors Growth Stock -- S Class $26 $80 $136 $290 MFS Sun Life Massachusetts Investors Trust- S Class $24 $73 $126 $269 MFS Sun Life New Discovery -- S Class $28 $85 $145 $307 MFS Sun Life Total Return -- S Class $25 $76 $131 $279 MFS Sun Life Utilities -- S Class $26 $79 $136 $289
3 If you do or 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 $50,000, and the EEB Plus MAV optional death benefit rider has been elected:
1 YEAR 3 YEARS 5 YEARS 10 YEARS -------- -------- -------- -------- MFS Sun Life Capital Appreciation -- S Class $29 $90 $153 $322 MFS Sun Life Emerging Growth -- S Class $29 $89 $152 $321 MFS Sun Life Government Securities -- S Class $28 $86 $146 $310 MFS Sun Life High Yield -- S Class $30 $92 $157 $330 MFS Sun Life Massachusetts Investors Growth Stock -- S Class $30 $92 $156 $328 MFS Sun Life Massachusetts Investors Trust- S Class $28 $85 $145 $308 MFS Sun Life New Discovery -- S Class $32 $97 $164 $345 MFS Sun Life Total Return -- S Class $29 $88 $150 $318 MFS Sun Life Utilities -- S Class $30 $91 $155 $327
THESE EXAMPLES SHOULD NOT BE CONSIDERED TO BE REPRESENTATIONS OF PAST OR FUTURE EXPENSES, AND ACTUAL EXPENSES MAY BE GREATER OR LOWER THAN THOSE SHOWN. THE EXAMPLES ASSUME THAT ALL CURRENT WAIVERS AND REIMBURSEMENTS CONTINUE THROUGHOUT ALL PERIODS. THIS SUPPLEMENT IS NOT VALID UNLESS ACCOMPANIED OR PRECEDED BY THE CURRENT PROSPECTUS FOR THE FUTURITY FOCUS II VARIABLE AND FIXED ANNUITY, AND ALL CURRENT FUND PROSPECTUSES AS SUPPLEMENTED. ALL SUPPLEMENTS AND THE PROSPECTUSES SHOULD BE READ AND RETAINED FOR FUTURE REFERENCE. FUT502 4 PART B INFORMATION REQUIRED IN A STATEMENT OF ADDITIONAL INFORMATION Attached hereto and made a part hereof is a Supplement to the Statement of Additional Information dated May 1, 2001 (incorporated herein by reference to Post-Effective Amendment No. 3 to the Registration Statement on Form N-4 (File No. 333-31248) filed April 23, 2001) for each of the following: MFS Regatta Access Variable and Fixed Annuity Futurity Focus II Variable and Fixed Annuity SUPPLEMENT DATED AUGUST 1, 2001 TO STATEMENT OF ADDITIONAL INFORMATION DATED MAY 1, 2001 FOR MFS REGATTA ACCESS VARIABLE AND FIXED ANNUITY ISSUED BY SUN LIFE ASSURANCE COMPANY OF CANADA (U.S.) Beginning on August 27, 2001, with the addition of a new class of shares - the "Service Class shares" - to the MFS/Sun Life Series Trust ("the Series Fund"), the following 31 corresponding Sub-Accounts will be added to the MFS Regatta Access Variable and Fixed Annuity Contracts (the "Contracts"): Bond - S Class Managed Sectors - S Class Capital Appreciation - S Class Massachusetts Investors Growth Stock - S Class Capital Opportunities- S Class Massachusetts Investors Trust - S Class Emerging Growth - S Class Mid Cap Growth - S Class Emerging Markets Equity - S Class Money Market - S Class Global Asset Allocation - S Class New Discovery - S Class Global Governments - S Class Research - S Class Global Growth - S Class Research Growth and Income - S Class Global Health Sciences - S Class Research International - S Class Global Telecommunications - S Class Strategic Growth - S Class Global Total Return - S Class Strategic Income - S Class Government Securities - S Class Technology - S Class High Yield - S Class Total Return - S Class International Growth - S Class Utilities - S Class International Investors Trust - S Class Value - S Class International New Discovery - S Class
This Supplement contains the performance information associated with the Series Fund's Service Class (the "S Class") shares. The S Class shares are the same as the shares (referred to herein as the "Initial Class" shares) currently offered in the Series Fund's Prospectus, dated May 1, 2001, except that the S Class shares are subject to a distribution fee equal to 0.25% of each Fund's daily net assets. The INITIAL CLASS SHARES are only available to owners of a MFS Regatta Access Variable and Fixed Annuity Contract who opened their Contracts BEFORE August 27, 2001. (A Contract is considered "opened" once we have received a completed Application in good order.) Subsequent payments and transfers by such Contract owners will continue to purchase Initial Class shares. Owners of a MFS Regatta Access Variable and Fixed Annuity Contract who opened their Contracts ON OR after August 27, 2001, will only be able to purchase S CLASS SHARES. Subsequent payments and transfers by such Contract owners will continue to purchase S Class shares. At present, the INTERNATIONAL NEW DISCOVERY SERIES and GLOBAL HEALTH SCIENCES SERIES of the MFS/Sun Life Series Trust are not available for sale and, therefore, neither share class of these two Series is available for investment. We do not know at this time when or if these two Series will be made available. YOUR INVESTMENT DECISION TO PURCHASE A CONTRACT SHOULD NOT ASSUME THE FUTURE AVAILABILITY OF THESE SERIES. As a result of the addition of the S Class shares, the Statement of Additional Information for the MFS Regatta Access Variable and Fixed Annuity Contract, dated May 1, 2001 (the "SAI") is supplemented as follows: 1. The Standardized Average Annual Total Return charts, appearing on the second page of the SAI, are supplemented by adding the following Sub-Accounts:
SEC INCEPTION 1 YEAR 5 YEAR 10 YEAR LIFE DATE PERIOD PERIOD PERIOD LOAD ------ ------ ------ ------ ---- Bond - S Class - CL6 05/06/1998 7.98 3.49 Capital Appreciation - S Class - CL6 11/30/1989 -13.47 15.17 16.10 13.04 Capital Opportunities - S Class - CL6 06/03/1996 -7.28 19.39 Emerging Growth - S Class - CL6 05/01/1995 -21.15 19.38 21.63 Emerging Markets Equity - S Class - CL6 06/05/1996 -24.36 -4.06 Global Asset Allocation - S Class - CL6 11/07/1994 -4.31 7.43 9.12 Global Governments - S Class - CL6 11/30/1989 -0.78 0.75 3.56 4.43 Global Growth - S Class - CL6 11/16/1993 -15.03 14.31 12.87 Global Total Return - S Class - CL6 11/07/1994 0.21 8.98 9.81 Government Securities - S Class - CL6 11/30/1989 9.75 3.49 5.16 5.23 High Yield - S Class - CL6 11/30/1989 -8.80 2.69 8.95 6.18 International Growth - S Class - CL6 06/03/1996 -9.81 2.34 International Investors Trust - S Class - CL6 10/02/1995 -4.39 7.00 6.81 Managed Sectors - S Class - CL6 11/30/1989 -22.56 17.00 16.49 13.25 Massachusetts Investors Growth Stock 05/06/1998 -8.50 14.94 - S Class - CL6 Massachusetts Investors Trust 10/31/1991 -2.30 14.45 12.75 - S Class - CL6 Money Market - S Class - CL6 11/30/1989 3.70 2.90 2.43 2.74 New Discovery - S Class - CL6 05/06/1998 -1.94 19.54 Research - S Class - CL6 11/07/1994 -6.35 14.52 16.89 Research Growth and Income 05/12/1997 0.95 9.50 - S Class - CL6 Research International - S Class - CL6 05/06/1998 -9.97 9.32 Strategic Growth - S Class - CL6 11/01/1999 -12.02 6.02 Strategic Income - S Class - CL6 05/06/1998 0.78 0.82 Total Return - S Class - CL6 11/30/1989 14.24 10.85 10.80 9.80 Utilities - S Class - CL6 11/16/1993 4.50 18.73 15.74 Value - S Class - CL6 05/06/1998 27.45 12.87
2 2. The Non-Standardized Average Annual Total Return charts, beginning on page 3 of the SAI, are supplemented by adding the following Sub-Accounts:
FUND INCEPTION 1 YEAR 5 YEAR 10 YEAR LIFE DATE PERIOD PERIOD PERIOD LOAD -------- ------ ------ -------- ----- Bond - S Class - CL6 05/05/1998 8.02 3.53 Capital Appreciation - S Class - CL6 08/13/1985 -13.22 15.35 16.23 14.13 Capital Opportunities - S Class - CL6 06/03/1996 -6.80 19.74 Emerging Growth - S Class - CL6 05/01/1995 -20.74 19.67 21.89 Emerging Markets Equity - S Class - CL6 06/05/1996 -24.31 -4.00 Global Asset Allocation - S Class - CL6 11/07/1994 -4.29 7.45 9.13 Global Governments - S Class - CL6 05/16/1988 -0.76 0.78 3.58 4.53 Global Growth - S Class - CL6 11/16/1993 -14.90 14.41 12.97 Global Total Return - S Class - CL6 11/07/1994 0.23 9.00 9.83 Government Securities - S Class - CL6 08/12/1985 9.85 3.59 5.23 6.06 High Yield - S Class - CL6 08/13/1985 -8.67 2.80 9.02 6.12 International Growth - S Class - CL6 06/03/1996 -9.68 2.49 International Investors Trust - S Class - CL6 10/02/1995 -4.36 7.02 6.84 Managed Sectors - S Class - CL6 05/27/1988 -22.44 17.09 16.56 15.26 Massachusetts Investors Growth Stock 05/05/1998 -8.03 15.37 - S Class - CL6 Massachusetts Investors Trust 12/05/1986 -1.93 14.70 14.33 11.88 - S Class - CL6 Money Market - S Class - CL6 08/29/1985 3.80 3.00 2.53 3.35 New Discovery - S Class - CL6 05/05/1998 -1.66 19.82 Research - S Class - CL6 11/07/1994 -6.07 14.72 17.08 Research Growth and Income 05/12/1997 1.00 9.55 - S Class - CL6 Research International - S Class - CL6 05/05/1998 -9.83 9.47 Strategic Growth - S Class - CL6 11/01/1999 -11.82 6.36 Strategic Income - S Class - CL6 05/05/1998 0.81 0.85 Total Return - S Class - CL6 05/16/1988 14.42 11.00 10.92 10.20 Utilities - S Class - CL6 11/16/1993 4.81 18.95 15.98 Value - S Class - CL6 05/05/1998 27.61 13.04
3 3. The Non-Standardized Compound Growth Rate charts, beginning on page 4 of the SAI, are supplemented by adding the following Sub-Accounts:
FUND INCEPTION 1 YEAR 5 YEAR 10 YEAR LIFE DATE PERIOD PERIOD PERIOD LOAD ------- ------ ------ ------- ---- Bond - S Class - CL6 05/05/1998 7.98 3.49 Capital Appreciation - S Class - CL6 08/13/1985 -13.47 15.17 16.10 14.00 Capital Opportunities - S Class - CL6 06/03/1996 -7.28 19.39 Emerging Growth - S Class - CL6 05/01/1995 -21.15 19.38 21.63 Emerging Markets Equity - S Class - CL6 06/05/1996 -24.36 -4.06 Global Asset Allocation - S Class - CL6 11/07/1994 -4.31 7.43 9.12 Global Governments - S Class - CL6 05/16/1988 -0.78 0.75 3.56 4.39 Global Growth - S Class - CL6 11/16/1993 -15.03 14.31 12.87 Global Total Return - S Class - CL6 11/07/1994 0.21 8.98 9.81 Government Securities - S Class - CL6 08/12/1985 9.75 3.49 5.16 5.90 High Yield - S Class - CL6 08/13/1985 -8.80 2.69 8.95 5.96 International Growth - S Class - CL6 06/03/1996 -9.81 2.34 International Investors Trust - S Class - CL6 10/02/1995 -4.39 7.00 6.81 Managed Sectors - S Class - CL6 05/27/1988 -22.56 17.00 16.49 15.14 Massachusetts Investors Growth Stock 14.94 - S Class - CL6 05/05/1998 -8.50 Massachusetts Investors Trust - S Class - CL6 12/05/1986 -2.30 14.45 14.13 11.71 Money Market - S Class - CL6 08/29/1985 3.70 2.90 2.43 3.18 New Discovery - S Class - CL6 05/05/1998 -1.94 19.54 Research - S Class - CL6 11/07/1994 -6.35 14.52 16.89 Research Growth and Income - S Class - CL6 05/12/1997 0.95 9.50 Research International - S Class - CL6 05/05/1998 -9.97 9.32 Strategic Growth - S Class - CL6 11/01/1999 -12.02 6.02 Strategic Income - S Class - CL6 05/05/1998 0.78 0.82 Total Return - S Class - CL6 05/16/1988 14.24 10.85 10.80 10.02 Utilities - S Class - CL6 11/16/1993 4.50 18.73 15.74 Value - S Class - CL6 05/05/1998 27.45 12.87
4 SUPPLEMENT DATED AUGUST 1, 2001 TO STATEMENT OF ADDITIONAL INFORMATION DATED MAY 1, 2001 FOR FUTURITY FOCUS II VARIABLE AND FIXED ANNUITY ISSUED BY SUN LIFE ASSURANCE COMPANY OF CANADA (U.S.) Beginning on August 27, 2001, with the addition of a new class of shares - the "Service Class shares" - to the MFS/Sun Life Series Trust ("the Series Fund"), the following 9 corresponding investment options will be added to the Futurity Focus II Variable and Fixed Annuity Contracts (the "Contracts"): MFS/Sun Life Capital Appreciation - S Class MFS/Sun Life Emerging Growth - S Class MFS/Sun Life Government Securities - S Class MFS/Sun Life High Yield - S Class MFS/Sun Life Massachusetts Investors Growth Stock - S Class MFS/Sun Life Massachusetts Investors Trust - S Class MFS/Sun Life New Discovery - S Class MFS/Sun Life Total Return - S Class MFS/Sun Life Utilities - S Class This Supplement contains the performance information associated with the Series Fund's Service Class (the "S Class") shares. The S Class shares are the same as the shares (referred to herein as the "Initial Class" shares) currently offered in the Series Fund's Prospectus, dated May 1, 2001, except that the S Class shares are subject to a distribution fee equal to 0.25% of each Fund's daily net assets. The INITIAL CLASS SHARES are only available to owners of a Futurity Focus II Variable and Fixed Annuity Contract who opened their Contracts BEFORE August 27, 2001. (A Contract is considered "opened" once we have received a completed Application in good order.) Subsequent payments and transfers by such Contract owners will continue to purchase Initial Class shares. Owners of a Futurity Focus II Variable and Fixed Annuity Contract who opened their Contracts ON OR AFTER August 27, 2001, will only be able to purchase S CLASS SHARES. Subsequent payments and transfers by such Contract owners will continue to purchase S Class shares. As a result of the addition of the S Class shares, the Statement of Additional Information for the Futurity Focus II Variable and Fixed Annuity Contract, dated May 1, 2001 (the "SAI") is supplemented as follows: 1. The standardized average annual total return charts, appearing on the second page of the SAI, are supplemented by adding the following Sub-Accounts:
10 YEAR FUTURITY 1 YEAR 5 YEAR PERIOD OR INCEPTION 1.80% PERIOD PERIOD LIFE (1) DATE - ----- ------ ------ -------- ---- MFS/Sun Life Capital Appreciation - S Class (13.85%) 14.88% 15.93% 11/30/89 MFS/Sun Life Emerging Growth - S Class (21.07%) 19.43% 21.67% 05/01/95 MFS/Sun Life High Yield - S Class (8.84%) 2.65% 8.90% 11/30/89 MFS/Sun Life Utilities - S Class 4.71% 18.85% 15.87% 11/16/93 MFS/Sun Life Government Securities - S Class 9.60% 3.33% 5.03% 11/30/89 MFS/Sun Life Total Return - S Class 14.14% 10.77% 10.74% 11/30/89 MFS/Sun Life Massachusetts Investors Trust - S Class (2.21%) 14.48% 12.78% 10/31/91 MFS/Sun Life New Discovery - S Class (1.94%) 19.58% 05/06/98 MFS/Sun Life Massachusetts Investors Growth Stock - S Class (8.31%) 14.96% 05/06/98
2. The non-standardized investment performance charts, beginning on page 3 of the SAI, are supplemented by adding the following Sub-Accounts: $10,000 INVESTED IN THIS FUND . . . WOULD HAVE GROWN TO THIS AMOUNT UNDER A FUTURITY FOCUS II CONTRACT, ON DECEMBER 31, 2000 THIS MANY YEARS AGO . . . 1.80% - -----
MFS/SUN LIFE CAPITAL APPRECIATION - S CLASS MFS SUN LIFE EMERGING GROWTH - S CLASS NUMBER CUMULATIVE COMPOUND NUMBER CUMULATIVE COMPOUND OF GROWTH GROWTH OF GROWTH GROWTH YEARS PERIODS AMOUNT RATE RATE YEARS PERIODS AMOUNT RATE RATE 1 12/31/99 - 12/31/00 $8,678.27 -13.22% -13.22% 1 12/31/99 - 12/31/00 $7,926.14 -20.74% -20.74% 2 12/31/98 - 12/31/00 $11,274.49 12.74% 6.18% 2 12/31/98 - 12/31/00 $13,651.60 36.52% 16.84% 3 12/31/97 - 12/31/00 $14,213,03 42.13% 12.43% 3 12/31/97 - 12/31/00 $17,905.27 79.05% 21.43% 4 12/31/96 - 12/31/00 $17,143.76 71.44% 14.43% 4 12/31/96 - 12/31/00 $21,385.17 113.85% 20.93% 5 12/31/95 - 12/31/00 $20,397.52 103.98% 15.32% 5 12/31/95 - 12/31/00 $24,536.50 145.36% 19.66% 10 12/31/90 - 12/31/00 $45,077.27 350.77% 16.25% Life 06/12/85 - 12/31/00 $78,180.22 661.60% 13.94% Life 05/01/95 - 12/31/00 $30,689.20 206.89% 21.87%
2
MFS SUN LIFE GOVERNMENT SECURITIES - S CLASS MFS SUN LIFE HIGH YIELD - S CLASS NUMBER CUMULATIVE COMPOUND NUMBER CUMULATIVE COMPOUND OF GROWTH GROWTH OF GROWTH GROWTH YEARS PERIODS AMOUNT RATE RATE YEARS PERIODS AMOUNT RATE RATE 1 12/31/99 - 12/31/00 $10,984.51 9.85% 9.85% 1 12/31/99 - 12/31/00 $9,132.13 -8.68% -8.68% 2 12/31/98 - 12/31/00 $10,552.11 5.52% 2.72% 2 12/31/98 - 12/31/00 $9,557.09 -4.43% -2.24% 3 12/31/97 - 12/31/00 $11,239.39 12.39% 3.97% 3 12/31/97 - 12/31/00 $9,424.05 -5.76% -1.96% 4 12/31/96 - 12/31/00 $11,969.71 19.70% 4.60% 4 12/31/96 - 12/31/00 $10,453.94 4.54% 1.12% 5 12/31/95 - 12/31/00 $11,916.12 19.16% 3.57% 5 12/31/95 - 12/31/00 $11,479.61 14.80% 2.80% 10 12/31/90 - 12/31/00 $16,631.02 66.31% 5.22% 10 12/31/90 - 12/31/00 $23,651.38 136.51% 8.99% Life 06/12/85 - 12/31/00 $24,602.63 146.03% 5.96% Life 06/12/85 - 12/31/00 $24,761.34 147.61% 6.00% MFS SUN LIFE MASSACHUSETTS INVESTORS GROWTH STOCK - S CLASS MFS SUN LIFE MASSACHUSETTS INVESTORS TRUST - S CLASS NUMBER CUMULATIVE COMPOUND NUMBER CUMULATIVE COMPOUND OF GROWTH GROWTH OF GROWTH GROWTH YEARS PERIODS AMOUNT RATE RATE YEARS PERIODS AMOUNT RATE RATE 1 12/31/99 - 12/31/00 $9,195.97 -8.04% -8.04% 1 12/31/99 - 12/31/00 $9,806.45 -1.94% -1.94% 2 12/31/98 - 12/31/00 $12,231.70 22.32% 10.60% 2 12/31/98 - 12/31/00 $10,295.39 2.95% 1.47% 3 12/31/97 - 12/31/00 $12,489.99 24.90% 7.60% 4 12/31/96 - 12/31/00 $16,142.81 61.43% 12.72% 5 12/31/95 - 12/31/00 $19,827.68 98.28% 14.67% 10 12/31/90 - 12/31/00 $38,107.60 281.08% 14.31% Life 05/06/98 - 12/31/00 $14,565.04 45.65% 15.22% Life 11/14/86 - 12/31/00 $48,341.42 383.41% 11.80%
3
MFS SUN LIFE MASSACHUSETTS NEW DISCOVERY - S CLASS MFS SUN LIFE MASSACHUSETTS TOTAL RETURN - S CLASS NUMBER CUMULATIVE COMPOUND NUMBER CUMULATIVE COMPOUND OF GROWTH GROWTH OF GROWTH GROWTH YEARS PERIODS AMOUNT RATE RATE YEARS PERIODS AMOUNT RATE RATE 1 12/31/99 - 12/31/00 $9,834.38 -1.66% -1.66% 1 12/31/99 - 12/31/00 $11,442.37 14.42% 14.42% 2 12/31/98 - 12/31/00 $15,434.67 54.35% 24.24% 2 12/31/98 - 12/31/00 $11,527.23 15.27% 7.36% 3 12/31/97 - 12/31/00 $12,613.06 26.13% 8.05% 4 12/31/96 - 12/31/00 $15,070.57 50.71% 10.80% 5 12/31/95 - 12/31/00 $16,842.20 68.42% 10.99% 10 12/31/90 - 12/31/00 $28,178.82 181.79% 10.92% Life 05/06/98 - 12/31/00 $16,171.36 61.71% 19.85% Life 05/11/88 - 12/31/00 $34,049.98 240.50% 10.18% MFS SUN LIFE MASSACHUSETTS UTILITIES - S CLASS NUMBER CUMULATIVE COMPOUND OF GROWTH GROWTH YEARS PERIODS AMOUNT RATE RATE 1 12/31/99 - 12/31/00 $10,480.77 4.81% 4.81% 2 12/31/98 - 12/31/00 $13,476.47 34.76% 16.09% 3 12/31/97 - 12/31/00 $15,517.22 55.17% 15.77% 4 12/31/96 - 12/31/00 $20,173.34 101.73% 19.18% 5 12/31/95 - 12/31/00 $23,782.97 137.83% 18.92% Life 11/16/93 - 12/31/00 $28,696.57 186.97% 15.95%
4 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. 3 to the Registration Statement on Form N-4 (File No. 333-31248) filed April 23, 2001: A. Condensed Financial Information - Accumulation Unit Values (Part A) B. Financial Statements of the Depositor (Part B) Audited: 1. Consolidated Statements of Income, Years Ended December 31, 2000, 1999, and 1998; 2. Consolidated Balance Sheets, December 31, 2000 and 1999; 3. Consolidated Statements of Comprehensive Income, Years Ended December 31, 2000, 1999, and 1998; 4. Consolidated Statements of Stockholder's Equity, Years Ended December 31, 2000, 1999, and 1998; 5. Consolidated Statements of Cash Flows, Years Ended December 31, 2000, 1999, and 1998; 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, 2000; 2. Statement of Operations, Year Ended December 31, 2000; 3. Statements of Changes in Net Assets, Years Ended December 31, 2000 and December 31, 1999; 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); and (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 (Filed as Exhibit 4(a) to Pre-Effective Amendment No. 1 to the Registration Statement on Form N-4, File No. 333-31248 (Filed June 14, 2000); (b) Form of Certificate to be issued in connection with Contract filed as Exhibit 4(a) (Filed as Exhibit 4(b) to Pre-Effective Amendment No. 1 to the Registration Statement on Form N-4, File No. 333-31248 (Filed June 14, 2000); (c) Form of Flexible Payment Combination Fixed/Variable Individual Annuity Contract (Filed as Exhibit 4(c) to Pre-Effective Amendment No. 1 to the Registration Statement on Form N-4, File No. 333-31248 (Filed June 14, 2000); (d) Form of Revised Specification Page to be issued in connection with Certificate; filed as Exhibit 4(b); (e) 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 Contracts filed as Exhibits 4(a), 4(b) and 4(c) (Filed as Exhibit 5 to Pre-Effective Amendment No. 1 to the Registration Statement on Form N-4, File No. 333-31248 (Filed June 14, 2000); (b) 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 (Filed as Exhibit 6(b) to Pre-Effective Amendment No. 1 to the Registration Statement of the Registrant, File No. 333-05846, 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 on Form N-4, File No. 333-82957, filed on 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 on Form N-4, File No. 333-82957, filed on 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.). (Incorporated herein by reference to Post-Effective Amendment No. 7 to the Registration Statement on Form N-4 File No. 333-82957, filed July 27, 2001.) (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. (Incorporated herein by reference to Post-Effective Amendment No. 7 to the Registration Statement on Form N-4, File No. 333-82957, filed July 27, 2001. (k)(i) Form of Participation Agreement dated December 1, 1996 by and among Sun Life Assurance Company of Canada (U.S.), Variable Insurance Products Funds, and Fidelity Distributors Corporation. (Incorporated by reference form Pre-Effective Amendment No. 1 to the Registraion 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 Funds, and Fidelity Distributors Corporation. (Incorporated herein by reference to Post-Effective Amendment No. 7 to the Registration Statement on Form N-4 File No. 333-82957, filed July 27, 2001). (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. (Incorporated herein by reference to Post-Effective Amendment No. 7 to the Registration Statement on Form N-4, File No. 333-82957, filed July 27, 2001). (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 on Form N-4, File No. 333-31248, filed on February 28, 2000); (10) (a) Consent of Independent Auditors*; (b) Representation by counsel*; (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 from Exhibit 16 to Post-Effective Amendment No. 3 to Registration Statement on Form N-4, File No. 333-30844, filed on February 9, 2001) * 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 One Sun Life Executive Park Wellesley Hills, MA 02481 James A. McNulty, III President and Director One Sun Life Executive Park Wellesley Hills, MA 02481 David D. Horn Director Strong Road New Vineyard, ME 04956 Angus A. MacNaughton Director Genstar Investment Corporation 555 California Street, Suite 4850 San Francisco, CA 94104 S. Caesar Raboy Director 220 Boylston Street Boston, MA 02110 William W. Stinson Director Canadian Pacific Limited 1800 Bankers Hall, East Tower 855 - 2nd Street S.W. Calgary, Alberta Canada T2P 4ZS James C. Baillie Director Torys Suite 300, Maritime Life Tower Toronto, Ontario M5K1N2 Name and Principal Positions and Offices Business Address with Depositor ---------------- -------------- James M.A. Anderson Vice President, Investments One Sun Life Executive Park Wellesley Hills, MA 02481 Peter F. Demuth Vice President and Chief Counsel One Sun Life Executive Park and Assistant Secretary Wellesley Hills, MA 02481 Ronald J. Fernandes Vice President, Retirement One Sun Life Executive Park Products and Services Wellesley Hills, MA 02481 Ellen B. King Senior Counsel and Secretary One Sun Life Executive Park Wellesley Hills, MA 02481 Davey S. Scoon Vice President, Finance and One Sun Life Executive Park Treasurer 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 incorporated herein by reference to Exhibit 16 to Post-Effective Amendment No. 3 to Registrant's Registration Statement on Form N-4, File No. 333-30844, filed February 9, 2001. None of the companies listed in such 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 As of July 13, 2001, there were 1,938 qualified and 3,375 non-qualified Contracts issued by the Depositor with respect to the Securities registered pursuant to this Registration Statement. 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.), as amended (a copy of which was filed as Exhibit 6(b) to Pre-Effective Amendment No. 1 to the Registration Statement on Form N-4, File No. 333-30844) 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 Offices 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 Stephen J. Yarina.................. Tax Officer
- ------------- * The principal business address of all directors and officers of the principal underwriter except Messrs. Fernandes, Goss and Franca is One Sun Life Executive Park, Wellesley Hills, Massachusetts 02481. The principal business address of Messrs. Fernandes, Goss and Franca is One Copley Place, Boston, Massachusetts 02116. (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, and One Copley Place, Boston, Massachusetts 02116, 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 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 Post-Effective Amendment No. 4 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 27th day of July, 2001. 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 President and Senior Counsel As required by the Securities Act of 1933, this Pre-Effective Amendment to the 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.
SIGNATURE TITLE DATE - ------------------------------------- ------------------------------------ -------------- /s/ JAMES A. McNULTY, III President and Director July 27, 2001 - ------------------------------------- (Principal Executive Officer) James A. McNulty, III /s/ DAVEY S. SCOON Vice President, Finance July 27, 2001 - ------------------------------------- and Treasurer Davey S. Scoon (Principal Financial and Accounting Officer) /s/ SANDRA M. DADALT Attorney-in-Fact for: July 27, 2001 - ------------------------------------- Donald A. Steward, Chairman and Director Sandra M. DaDalt 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
EXHIBIT INDEX (10)(a) Consent of Independent Auditors (10)(b) Representation of Counsel
EX-10.A 2 a2054402zex-10_a.txt EX-10.A Exhibit 10(a) INDEPENDENT AUDITORS' CONSENT We consent to the incorporation by reference in this Post-Effective Amendment No. 4 to Registration Statement No. 333-31248 of Sun Life of Canada (U.S.) Variable Account F on Form N-4 of our report dated February 9, 2001 accompanying the financial statements of Regatta, Regatta Gold, Regatta Classic, Regatta Platinum, Regatta Extra, Regatta Access, Regatta Choice, and Regatta Flex 4 Sub-Accounts included in Sun Life of Canada (U.S.) Variable Account F and of our report dated February 9, 2001 accompanying financial statements of Futurity, Futurity II, Futurity Focus, Futurity Accolade, Futurity Focus II, Futurity III, and Futurity Select Four Sub-Accounts included in Sun Life of Canada (U.S.) Variable Accounts F, to the incorporation by reference of our report dated February 7, 2001 accompanying the consolidated financial statements of Sun Life Assurance Company of Canada (U.S.). We also consent to the references to us under the headings "Accountants" and "Appendix I - Condensed Financial Information - Accumulation Unit Values" in the Prospectuses and under the heading "Financial Statements" in the Statements of Additional Information, which are a part of such Registration Statement. DELOITTE & TOUCHE LLP Boston, Massachusetts July 27, 2001 EX-10.B 3 a2054402zex-10_b.txt EX-10.B Exhibit 10(b) REPRESENTATION OF COUNSEL I, Sandra M. DaDalt, in my capacity as counsel to Sun Life of Canada (U.S.) Variable Account F (the "Account") have reviewed this Post-Effective Amendment to the Registration Statement of the Account which is being filed pursuant to paragraph (b) of Rule 485 under the Securities Act of 1933. Based on my review of this Post-Effective Amendment and such other material relating to the operations of the Account as I deemed relevant, I hereby certify as of the date of filing this Amendment, that the Post-Effective Amendment does not contain disclosure which would render it ineligible to become effective pursuant to paragraph (b) of Rule 485. I hereby consent to the filing of this representation as part of this Post-Effective Amendment to the Registration Statement of the Account. /s/ SANDRA DADALT -------------------- Sandra DaDalt, Esq. July 27, 2001 -----END PRIVACY-ENHANCED MESSAGE-----