William Client1 - Sun Life Financial · Prepared especially for: William Client1 Corporate Retirement Strategy The corporation may post the entire death benefit to its capital dividend

A presentation designed for:

William Client1

Prepared by:Sun Life Financial

Sun Life Assurance Company of Canada

August 1, 2012 (CSF/HO 5.7.0.438-12158.12220)

Prepared especially for: William Client1Corporate Retirement Strategy

This presentation contains 7 sections as follows:Table of Contents

1. Corporate Retirement Strategy - An overview Page 32. Assumptions Page 53. Comparison of values Page 64. Corporate Retirement Strategy details Page 85. Alternate investment details Page 106. Loan interest sensitivity analysis Page 127. Corporate Retirement Strategy - Key considerations Page 14

If you have any questions, please feel free to contact me,Sun Life Financial About This PresentationThis presentation was prepared for information purposes only and is neither an insurance contract nor an offer toprovide insurance. It does not form part of any policy that may be issued and is not intended to provide or replaceprofessional legal or tax advice.This presentation contains figures extracted from the Sun Universal Life MAX illustration accompanying this presentation and bearing the same date. This presentation should be read together with that illustration and is incomplete without it. For example, the accompanying illustration contains policy values based on more than one interest rate scenario. Illustrating multiple scenarios shows how even a small change in the interest rate assumptions can result in a significant reduction in policy values. Such changes would have a similar impact on the figures shown in this presentation. Unless otherwise indicated, none of the figures shown in this presentation are guaranteed. They are based onassumptions that are certain to change and are neither an estimate nor a guarantee of future performance. Actualresults will differ upward or downward from those shown depending on future experience. Even a small changecan have a large negative impact on the non-guaranteed figures illustrated in this presentation.

August 1, 2012 (CSF/HO 5.7.0.438-12158.12220)Page 2 of 15

NB: Sun Life Assurance Company of Canada


Corporate Retirement Strategy – An overviewThe Corporate Retirement Strategy, when used with a Sun Universal Life MAX life insurance policy, helps small business owners protect the financial interests of their businesses while giving them an opportunity to access cash in a tax-effective manner during their lifetimes.

The Corporate Retirement Strategy may be suitable for small business owners who:· have a significant ownership interest in their private corporations · need corporately owned permanent life insurance for key person protection or to fund a buy-sell agreement · are looking for a source of cash that can be accessed for business purposes · have maximized their RRSPs and TFSAs and are looking for additional flexibility and cash accessibility at a

later date

Corporate Retirement Strategy – Corporate BorrowingThe corporation is the owner and the beneficiary of the life insurance policy. As the shareholder, you are theinsured person. During the accumulation period, the corporation makes payments into the policy that createsignificant policy cash values. Due to the exempt status of the policy, any policy earnings will be exempt fromincome tax.In the future, when you want to access the cash value of the life insurance policy, the corporation assigns the policyto a third party financial institution as collateral security for a series of loans. Currently, the Income Tax Act(Canada) does not treat loan proceeds as income, so this amount is potentially tax-free to the corporation. Thisillustration assumes that the interest due on the loan is capitalized. Assuming the financial institution does not callthe loan, and that the security for the loan remains adequate, the corporation should not have to make loanrepayments during your lifetime.

The corporation pays the loan proceeds to you as a taxable dividend. At death, the tax-free policy death benefitgoes first to pay the outstanding loan plus accumulated interest. The corporation may keep any part that is left over.




The corporation may post the entire death benefit to its capital dividend account, minus an amount equal to thepolicy’s adjusted cost basis, even if it has used most or all of the death benefit to repay the loan. It may then pay acapital dividend to its shareholders. Shareholders do not have to pay tax on capital dividends.

The Corporate Retirement Strategy can provide significant benefits to the corporation and shareholder. However,there are many considerations to take into account. Please refer to the Key Considerations section of thispresentation for more details.This presentation compares the results of a corporately owned life insurance policy to a traditional non-registeredalternate investment. An identical sum is invested in both the policy and the alternate investment. Earnings thataccrue to the policy are tax exempt (provided they stay in the policy). In the non-registered alternate investment,growth is reduced by annual taxes at the rates shown, before reinvestment.The net estate value in the Corporate Retirement Strategy is the amount that is payable tax-free to the shareholder’sestate. The net estate value in the alternate investment is the net amount available to the shareholder’s estate afterdividend and deferred capital gains taxes have been paid.



AssumptionsCompany nameInsureds:Client1, William Age: 48 Life Expectancy: 79

Initial insurance amount: $1,000,000Assumed primary interest rate 5.50%

Life insurance policy assumptions:Insurance policy type: SunUniversalLife MAX

Planned payments for: 15 years

Tax assumptions:Marginal tax rate on interest: 45%

Capital gains inclusion rate: 50.00%Shareholder dividend tax rate: 30.00%

Corporate tax rate on investment income: 50.00%Alternate investment assumptions:Growth rate: 6.00%Growth rate at age 65: 6.00%

17 for

Bank loan assumptions:Bank loan amount: $42,858Beginning in year 15 yearsIndexed: 0%Collateral value: 75% at age 79Assumed bank loan rate: 7.50%





Comparison of values

Policyyear

Annualpayment

After-taxdividend toshareholder

CDA creditAfter-tax

dividend toshareholder

CumulativeCDA creditAge

Alternateinvestment

balanceNet estate

value

Corporate Retirement Strategy Alternate investmentNet estate

value1 50,000 0 990,526 0 30049 52,220 37,1991,024,5372 50,000 0 986,333 0 91350 106,758 76,6941,054,1603 50,000 0 985,020 0 1,85351 163,718 118,5891,086,4724 50,000 0 986,783 0 3,13652 223,207 162,9881,121,6405 50,000 0 991,868 0 4,77553 285,338 210,0041,159,8536 50,000 0 1,000,499 0 6,78754 350,227 259,7531,201,2977 50,000 0 1,012,965 0 9,18855 417,997 312,3551,246,1898 50,000 0 1,029,534 0 11,99656 488,776 367,9381,294,7449 50,000 0 1,050,410 0 15,22957 562,698 426,6341,347,16810 50,000 0 1,085,041 0 18,90558 639,901 488,5811,412,86511 50,000 0 1,128,590 0 23,04559 720,533 553,9241,486,95712 50,000 0 1,141,335 0 27,66860 804,745 622,8131,529,57413 50,000 0 1,182,444 0 32,79661 892,695 695,4051,599,96614 50,000 0 1,229,649 0 38,45262 984,551 771,8661,675,61715 50,000 0 1,283,495 0 44,66063 1,080,485 852,3671,756,89616 0 0 1,343,896 0 51,14364 1,128,459 899,8881,807,66917 0 30,000 1,408,883 30,000 29,83665 1,145,096 916,6921,829,49818 0 30,000 1,478,712 30,000 8,98466 1,162,211 934,0921,852,40419 0 30,000 1,553,670 30,000 9,94967 1,169,906 951,1991,876,41420 0 30,000 1,634,047 30,000 10,24768 1,188,554 968,9651,901,54721 0 30,000 1,720,199 30,000 10,53169 1,207,505 987,4111,927,83722 0 30,000 1,812,613 30,000 10,81270 1,227,106 1,006,5691,955,34723 0 30,000 1,911,896 30,000 11,08971 1,247,398 1,026,4731,984,16924 0 30,000 2,018,620 30,000 11,36372 1,268,420 1,047,1592,012,55725 0 30,000 2,133,338 30,000 11,63473 1,290,211 1,068,6642,008,60326 0 30,000 2,256,529 30,000 11,90374 1,312,814 1,091,0262,003,11027 0 30,000 2,388,630 30,000 12,17075 1,336,271 1,114,2871,995,88728 0 30,000 2,529,956 30,000 12,43776 1,360,626 1,138,4881,986,73029 0 30,000 2,681,090 30,000 12,70377 1,385,926 1,163,6721,975,40930 0 30,000 2,842,912 30,000 12,96978 1,412,219 1,189,8861,961,67531 0 30,000 3,016,460 30,000 13,23679 1,439,553 1,217,1771,945,25432 0 0 3,202,789 0 21,92280 1,511,940 1,280,8461,971,920




Policyyear

Annualpayment


CDA creditAfter-tax


CumulativeCDA creditAge

Alternateinvestment

balanceNet estate

value

Corporate Retirement Strategy Alternate investmentNet estate

value33 0 0 3,389,332 0 30,99481 1,579,070 1,347,3431,998,72834 0 0 3,520,479 0 40,46882 1,649,181 1,416,7922,025,58035 0 0 3,659,377 0 50,36383 1,722,404 1,489,3252,052,36036 0 0 3,806,485 0 60,69884 1,798,879 1,565,0782,078,94237 0 0 3,962,289 0 71,49185 1,878,749 1,644,1952,105,18138 0 0 4,127,302 0 82,76386 1,962,166 1,726,8242,130,91139 0 0 4,302,069 0 94,53687 2,049,286 1,813,1222,155,94840 0 0 4,487,167 0 106,83288 2,140,274 1,903,2522,180,08741 0 0 4,683,205 0 119,67489 2,235,302 1,997,3842,203,09442 0 0 4,890,831 0 133,08690 2,334,550 2,095,6952,224,71243 0 0 5,110,729 0 147,09391 2,438,204 2,198,3712,244,65144 0 0 5,343,625 0 161,72292 2,546,460 2,305,6052,262,59145 0 0 5,590,288 0 177,00193 2,659,523 2,417,6012,278,17746 0 0 5,851,531 0 192,95894 2,777,606 2,534,5702,291,01147 0 0 6,128,215 0 209,62495 2,900,932 2,656,7322,300,65748 0 0 6,421,254 0 227,02996 3,029,733 2,784,3182,306,62949 0 0 6,731,614 0 245,20897 3,164,253 2,917,5692,308,39250 0 0 7,060,320 0 264,19398 3,304,746 3,056,7362,305,35651 0 0 7,408,454 0 284,02299 3,451,477 3,202,0822,296,86852 0 0 7,777,167 0 304,730100 3,604,722 3,353,8822,282,212




Corporate Retirement Strategy details

Policyyear

Annualpayment

Total cashvalue

Deathbenefit

Annualloan

Accumulatedloan balanceAge

% ofpolicy

cash valueAdditionalcollateralneeded

Life insurance policy Corporate Retirement StrategyCDA credit


Net estatevalue

1 50,000 14,674 1,039,114 0 049 0% 0990,526 0 1,024,5372 50,000 34,349 1,083,229 0 050 0% 0986,333 0 1,054,1603 50,000 81,072 1,129,952 0 051 0% 0985,020 0 1,086,4724 50,000 130,557 1,179,437 0 052 0% 0986,783 0 1,121,6405 50,000 182,967 1,231,847 0 053 0% 0991,868 0 1,159,8536 50,000 250,694 1,287,354 0 054 0% 01,000,499 0 1,201,2977 50,000 309,483 1,346,143 0 055 0% 01,012,965 0 1,246,1898 50,000 371,746 1,408,406 0 056 0% 01,029,534 0 1,294,7449 50,000 449,910 1,474,350 0 057 0% 01,050,410 0 1,347,16810 50,000 531,972 1,553,362 0 058 0% 01,085,041 0 1,412,86511 50,000 618,012 1,640,544 0 059 0% 01,128,590 0 1,486,95712 50,000 695,963 1,695,963 0 060 0% 01,141,335 0 1,529,57413 50,000 778,904 1,778,904 0 061 0% 01,182,444 0 1,599,96614 50,000 866,747 1,866,747 0 062 0% 01,229,649 0 1,675,61715 50,000 959,783 1,959,783 0 063 0% 01,283,495 0 1,756,89616 0 1,006,430 2,006,430 0 064 0% 01,343,896 0 1,807,66917 0 1,055,834 2,055,834 42,858 46,07265 4% 01,408,883 30,000 1,829,49818 0 1,108,159 2,108,159 42,858 95,60066 8% 01,478,712 30,000 1,852,40419 0 1,163,576 2,163,576 42,858 148,84267 12% 01,553,670 30,000 1,876,41420 0 1,222,269 2,222,269 42,858 206,07868 16% 01,634,047 30,000 1,901,54721 0 1,284,432 2,284,432 42,858 267,60669 20% 01,720,199 30,000 1,927,83722 0 1,350,268 2,350,268 42,858 333,74970 24% 01,812,613 30,000 1,955,34723 0 1,419,997 2,419,997 42,858 404,85271 28% 01,911,896 30,000 1,984,16924 0 1,493,846 2,493,846 42,858 481,28872 32% 02,018,620 30,000 2,012,55725 0 1,572,061 2,572,061 42,858 563,45773 35% 02,133,338 30,000 2,008,60326 0 1,654,900 2,654,900 42,858 651,78974 39% 02,256,529 30,000 2,003,11027 0 1,742,634 2,742,634 42,858 746,74675 42% 02,388,630 30,000 1,995,88728 0 1,835,555 2,835,555 42,858 848,82476 46% 02,529,956 30,000 1,986,73029 0 1,933,968 2,933,968 42,858 958,55877 49% 02,681,090 30,000 1,975,40930 0 2,038,198 3,038,198 42,858 1,076,52278 52% 02,842,912 30,000 1,961,67531 0 2,148,589 3,148,589 42,858 1,203,33479 56% 03,016,460 30,000 1,945,25432 0 2,265,505 3,265,505 0 1,293,58480 57% 03,202,789 0 1,971,920




Policyyear

Annualpayment

Total cashvalue

Deathbenefit

Annualloan

Accumulatedloan balanceAge

% ofpolicy

cash valueAdditionalcollateralneeded

Life insurance policy Corporate Retirement StrategyCDA credit


Net estatevalue

33 0 2,389,332 3,389,332 0 1,390,60381 58% 03,389,332 0 1,998,72834 0 2,520,479 3,520,479 0 1,494,89882 59% 03,520,479 0 2,025,58035 0 2,659,377 3,659,377 0 1,607,01683 60% 03,659,377 0 2,052,36036 0 2,806,485 3,806,485 0 1,727,54284 61% 03,806,485 0 2,078,94237 0 2,962,289 3,962,289 0 1,857,10785 62% 03,962,289 0 2,105,18138 0 3,127,302 4,127,302 0 1,996,39086 63% 04,127,302 0 2,130,91139 0 3,302,069 4,302,069 0 2,146,12087 64% 04,302,069 0 2,155,94840 0 3,487,167 4,487,167 0 2,307,07988 66% 04,487,167 0 2,180,08741 0 3,683,205 4,683,205 0 2,480,11089 67% 04,683,205 0 2,203,09442 0 3,890,831 4,890,831 0 2,666,11890 68% 04,890,831 0 2,224,71243 0 4,110,729 5,110,729 0 2,866,07791 69% 05,110,729 0 2,244,65144 0 4,343,625 5,343,625 0 3,081,03392 70% 05,343,625 0 2,262,59145 0 4,590,288 5,590,288 0 3,312,11093 72% 05,590,288 0 2,278,17746 0 4,851,531 5,851,531 0 3,560,51994 73% 05,851,531 0 2,291,01147 0 5,128,215 6,128,215 0 3,827,55795 74% 06,128,215 0 2,300,65748 0 5,421,254 6,421,254 0 4,114,62496 75% 48,6846,421,254 0 2,306,62949 0 5,731,614 6,731,614 0 4,423,22197 77% 124,5116,731,614 0 2,308,39250 0 6,060,320 7,060,320 0 4,754,96398 78% 209,7237,060,320 0 2,305,35651 0 6,408,454 7,408,454 0 5,111,58599 79% 305,2457,408,454 0 2,296,86852 0 6,777,167 7,777,167 0 5,494,954100 81% 412,0797,777,167 0 2,282,212




Alternate investment details

Policyyear

Annualpayment

Beginning ofyear

withdrawalAfter-tax


Annual taxpayable

Alternateinvestment

balanceAge

CumulativeRDTOH

creditCumulativeCDA credit

Annualtaxablegrowth

Net estatevalue

1 50,000 0 0 780 52,22049 480 3001,800 37,1992 50,000 0 0 1,594 106,75850 1,461 9133,679 76,6943 50,000 0 0 2,445 163,71851 2,966 1,8535,643 118,5894 50,000 0 0 3,334 223,20752 5,018 3,1367,693 162,9885 50,000 0 0 4,262 285,33853 7,641 4,7759,835 210,0046 50,000 0 0 5,231 350,22754 10,861 6,78712,072 259,7537 50,000 0 0 6,243 417,99755 14,703 9,18814,408 312,3558 50,000 0 0 7,300 488,77656 19,197 11,99616,847 367,9389 50,000 0 0 8,404 562,69857 24,370 15,22919,395 426,63410 50,000 0 0 9,558 639,90158 30,252 18,90522,057 488,58111 50,000 0 0 10,762 720,53359 36,876 23,04524,836 553,92412 50,000 0 0 12,020 804,74560 44,274 27,66827,739 622,81313 50,000 0 0 13,334 892,69561 52,481 32,79630,770 695,40514 50,000 0 0 14,706 984,55162 61,532 38,45233,937 771,86615 50,000 0 0 16,139 1,080,48563 71,465 44,66037,243 852,36716 0 0 0 16,855 1,128,45964 81,839 51,14338,897 899,88817 0 30,000 30,000 18,174 1,145,09665 92,938 29,83639,507 916,69218 0 30,070 30,000 18,527 1,162,21166 104,247 8,98440,100 934,09219 0 39,007 30,000 19,108 1,169,90667 115,797 9,94940,381 951,19920 0 38,593 30,000 19,483 1,188,55468 117,641 10,24741,027 968,96521 0 38,466 30,000 19,855 1,207,50569 120,166 10,53141,683 987,41122 0 38,344 30,000 20,233 1,227,10670 123,058 10,81242,362 1,006,56923 0 38,224 30,000 20,617 1,247,39871 126,316 11,08943,064 1,026,47324 0 38,105 30,000 21,008 1,268,42072 129,942 11,36343,791 1,047,15925 0 37,988 30,000 21,408 1,290,21173 133,940 11,63444,545 1,068,66426 0 37,871 30,000 21,816 1,312,81474 138,313 11,90345,327 1,091,02627 0 37,756 30,000 22,233 1,336,27175 143,067 12,17046,137 1,114,28728 0 37,641 30,000 22,661 1,360,62676 148,208 12,43746,979 1,138,48829 0 37,527 30,000 23,100 1,385,92677 153,741 12,70347,853 1,163,67230 0 37,413 30,000 23,551 1,412,21978 159,674 12,96948,762 1,189,88631 0 37,299 30,000 24,015 1,439,55379 166,015 13,23649,706 1,217,17732 0 0 0 22,583 1,511,94080 171,804 21,92252,115 1,280,84633 0 0 0 23,586 1,579,07081 186,321 30,99454,429 1,347,343




Policyyear

Annualpayment

Beginning ofyear

withdrawalAfter-tax


Annual taxpayable

Alternateinvestment

balanceAge

CumulativeRDTOH

creditCumulativeCDA credit

Annualtaxablegrowth

Net estatevalue

34 0 0 0 24,633 1,649,18182 201,482 40,46856,846 1,416,79235 0 0 0 25,727 1,722,40483 217,316 50,36359,370 1,489,32536 0 0 0 26,869 1,798,87984 233,853 60,69862,006 1,565,07837 0 0 0 28,062 1,878,74985 251,124 71,49164,759 1,644,19538 0 0 0 29,308 1,962,16686 269,162 82,76367,634 1,726,82439 0 0 0 30,609 2,049,28687 288,002 94,53670,637 1,813,12240 0 0 0 31,968 2,140,27488 307,677 106,83273,774 1,903,25241 0 0 0 33,388 2,235,30289 328,226 119,67477,049 1,997,38442 0 0 0 34,870 2,334,55090 349,688 133,08680,470 2,095,69543 0 0 0 36,418 2,438,20491 372,102 147,09384,043 2,198,37144 0 0 0 38,035 2,546,46092 395,512 161,72287,775 2,305,60545 0 0 0 39,724 2,659,52393 419,961 177,00191,672 2,417,60146 0 0 0 41,488 2,777,60694 445,496 192,95895,742 2,534,57047 0 0 0 43,330 2,900,93295 472,164 209,62499,993 2,656,73248 0 0 0 45,254 3,029,73396 500,017 227,029104,433 2,784,31849 0 0 0 47,263 3,164,25397 529,106 245,208109,070 2,917,56950 0 0 0 49,362 3,304,74698 559,486 264,193113,913 3,056,73651 0 0 0 51,554 3,451,47799 591,216 284,022118,970 3,202,08252 0 0 0 53,843 3,604,722100 624,354 304,730124,253 3,353,882




Loan interest sensitivity analysis

Policyyear

Annualpayment Annual loan Accumulated

loan balanceNet estate

valueAccumulatedloan balanceAge % of policy

cash value Net estate valueLoan at 7.50% Loan at 8.50%

% of policycash value

1 50,000 0 0 1,024,537 049 0% 1,024,5370%2 50,000 0 0 1,054,160 050 0% 1,054,1600%3 50,000 0 0 1,086,472 051 0% 1,086,4720%4 50,000 0 0 1,121,640 052 0% 1,121,6400%5 50,000 0 0 1,159,853 053 0% 1,159,8530%6 50,000 0 0 1,201,297 054 0% 1,201,2970%7 50,000 0 0 1,246,189 055 0% 1,246,1890%8 50,000 0 0 1,294,744 056 0% 1,294,7440%9 50,000 0 0 1,347,168 057 0% 1,347,1680%10 50,000 0 0 1,412,865 058 0% 1,412,8650%11 50,000 0 0 1,486,957 059 0% 1,486,9570%12 50,000 0 0 1,529,574 060 0% 1,529,5740%13 50,000 0 0 1,599,966 061 0% 1,599,9660%14 50,000 0 0 1,675,617 062 0% 1,675,6170%15 50,000 0 0 1,756,896 063 0% 1,756,8960%16 0 0 0 1,807,669 064 0% 1,807,6690%17 0 42,858 46,072 1,829,498 46,50065 4% 1,829,1984%18 0 42,858 95,600 1,852,404 96,95466 8% 1,851,4568%19 0 42,858 148,842 1,876,414 151,69667 13% 1,874,41612%20 0 42,858 206,078 1,901,547 211,09168 17% 1,898,03816%21 0 42,858 267,606 1,927,837 275,53569 21% 1,922,28720%22 0 42,858 333,749 1,955,347 345,45670 25% 1,947,15124%23 0 42,858 404,852 1,984,169 421,32171 29% 1,972,64128%24 0 42,858 481,288 2,012,557 503,63472 33% 1,990,21132%25 0 42,858 563,457 2,008,603 592,94473 37% 1,979,11635%26 0 42,858 651,789 2,003,110 689,84574 41% 1,965,05439%27 0 42,858 746,746 1,995,887 794,98375 45% 1,947,65042%28 0 42,858 848,824 1,986,730 909,05876 49% 1,926,49646%29 0 42,858 958,558 1,975,409 1,032,82977 53% 1,901,13849%30 0 42,858 1,076,522 1,961,675 1,167,12078 57% 1,871,07752%31 0 42,858 1,203,334 1,945,254 1,312,82679 61% 1,835,76256%32 0 0 1,293,584 1,971,920 1,424,41780 62% 1,841,08757%33 0 0 1,390,603 1,998,728 1,545,49281 64% 1,843,83958%




Policyyear

Annualpayment Annual loan Accumulated

loan balanceNet estate

valueAccumulatedloan balanceAge % of policy

cash value Net estate valueLoan at 7.50% Loan at 8.50%

% of policycash value

34 0 0 1,494,898 2,025,580 1,676,85982 66% 1,843,61959%35 0 0 1,607,016 2,052,360 1,819,39283 68% 1,839,98460%36 0 0 1,727,542 2,078,942 1,974,04084 70% 1,832,44461%37 0 0 1,857,107 2,105,181 2,141,83485 72% 1,820,45462%38 0 0 1,996,390 2,130,911 2,323,89086 74% 1,803,41163%39 0 0 2,146,120 2,155,948 2,521,42087 76% 1,780,64864%40 0 0 2,307,079 2,180,087 2,735,74188 78% 1,751,42566%41 0 0 2,480,110 2,203,094 2,968,27989 80% 1,714,92567%42 0 0 2,666,118 2,224,712 3,220,58390 82% 1,670,24768%43 0 0 2,866,077 2,244,651 3,494,33291 85% 1,616,39669%44 0 0 3,081,033 2,262,591 3,791,35192 87% 1,552,27370%45 0 0 3,312,110 2,278,177 4,113,61693 89% 1,476,67172%46 0 0 3,560,519 2,291,011 4,463,27394 91% 1,388,25773%47 0 0 3,827,557 2,300,657 4,842,65195 94% 1,285,56374%48 0 0 4,114,624 2,306,629 5,254,27796 96% 1,166,97675%49 0 0 4,423,221 2,308,392 5,700,89097 99% 1,030,72377%50 0 0 4,754,963 2,305,356 6,185,46698 102% 874,85378%51 0 0 5,111,585 2,296,868 6,711,23199 104% 697,22279%52 0 0 5,494,954 2,282,212 7,281,685100 107% 495,48181%




Corporate Retirement Strategy – Key considerationsHere is a list of the key considerations that apply to the Corporate Retirement Strategy. Please consult with yourprofessional legal and tax advisors to ensure that this strategy is suitable for you.· Under current tax law, borrowing from a lending institution, using a life insurance policy as collateral,

does not trigger taxable income.· The tax treatment applicable to loans, interest deductibility and life insurance policies may change over time

without any grandfathering provision. Canada Revenue Agency (CRA) may deem a series of loans from a lending institution to be life insurance policy loans and potentially subject to tax.

· This presentation assumes a suitable lending arrangement between the borrower and their lending institution.· The borrower must qualify for the loan. They may also have to provide collateral acceptable to the lending

institution. The availability of the loans will depend on the lending institution’s lending criteria at the time the loan(s) are applied for. The lending institution may also review the sufficiency of its collateral from time to time while the loan is outstanding.

· Assumptions used in the Corporate Retirement Strategy presentation will impact the amount that can be borrowed. Actual results will be different from what is shown in this presentation. · Policy earnings are not guaranteed and may be more or less than illustrated. Lower policy growth will reduce

the amount that can be borrowed. Ask your advisor to illustrate at alternate interest rates or dividend scales.· The higher the loan interest rate, the less money that can be borrowed. Refer to the Loan Interest Sensitivity

Analysis report for details.· Living longer than the projected date of death on the illustration may result in the outstanding loan balance

exceeding the maximum allowable percentage of cash value. The lending institution may require more collateral to secure the loan. Ask your advisor for illustrations where less than the maximum allowable amount is borrowed and/or the projected date of death is later.

· The third party lending agreement will outline the amount that can be borrowed · Financial institutions limit the accumulated loan balance to a maximum percentage of the policy cash

surrender value. This limit may be lower for fund values that include non-guaranteed accounts. There is a risk that the loan may be called before your death if the outstanding loan balance exceeds the loan to value ratio.

· If the accumulated loan balance exceeds this limit the borrower may have to:· make payments to reduce the outstanding loan balance· pledge additional assets as collateral

If the borrower is unable to meet this requirement, the financial institution will use funds from the policy to repay the loan. This may result in a taxable disposition and the policy may terminate. Under these circumstances, the policy owner will be liable for any taxes payable. After repayment of the loan, the net proceeds of the policy may not be enough to pay the taxes.




· The corporation must not be obligated to provide retirement benefits from the life insurance policy. · In circumstances where a corporation acquires a life insurance policy and is obligated to fund retirement

benefits from it, a Retirement Compensation Arrangement may be deemed to exist. This may result in significant tax consequences. Consult with your professional legal and tax advisors on this issue.

· The shareholder or the corporation can borrow funds against the life insurance policy. · Using the corporation’s life insurance policy as collateral for a personal loan to the shareholder may result in a

taxable shareholder benefit. This risk may be reduced by having the shareholder pay a guarantee fee to the corporation.

· Repayment of the loan must be structured properly· In circumstances where a shareholder has used a corporately owned life insurance policy as collateral for a

personal loan, a shareholder benefit may exist if the loan is repaid directly from the proceeds of the insurance policy. This includes direct repayment either as a result of payment of the death benefit or surrender of the policy prior to death.

· Repayment of the loan should be structured to ensure no direct payment from the life insurance policy is made · Direct repayment may result in significant tax consequences

· There are specific rules relating to the deductibility of interest on borrowed funds. · The loan proceeds must be invested to earn income from a business or property · Loan interest must be paid or payable· Tax rules are subject to change and there is no guarantee that the current rules will continue to apply in the

future. The Federal Department of Finance has indicated that the tax rules about interest deductibility are under review.

· If this illustration assumes interest deductibility, please consult your legal and tax advisors to confirm the applicability of interest deductions for your particular situation.

The insurance payment figures and estate benefit amounts are extracted from the policy illustration included withthis presentation. Please refer to it for further information concerning the policy.



An illustration designed for:

William Client1

Prepared by:Sun Life Financial


August 1, 2012 (CSF/HO 5.7.0.438-12158.12220)

Prepared especially for William Client1

About This Illustration

This illustration was prepared for information purposes only and is neither an insurance contract nor an offer to provide insurance. It does not form part of any policy that may be issued and is not intended to provide or replace professional legal or tax advice. Unless otherwise indicated, the figures shown in this illustration are not guaranteed. They are based on assumptions that are certain to change and are neither an estimate nor a guarantee of future performance. They should be treated as hypothetical only. Actual results will differ upward or downward from those shown depending on future experience. Even a small change in one of these assumptions can have a large negative impact on the non-guaranteed figures shown in this illustration. Payments, withdrawals, cost of insurance and transfers from the service account are shown at the beginning of the year. Death benefits, cash values, policy fund values and transfers to the service account are shown at the end of the year. For more details about the information contained in this illustration, please consult your advisor or refer to your SunUniversalLife client guide.




This illustration contains 4 sections as follows:

Table of ContentsSunUniversalLife MAX combines comprehensive life insurance protection with a variety of self-directed, tax-deferred investment options into one unique plan with no annual administration fee.

1. Illustration Details Page 42. Fund Investment Options Page 63. Illustrations - Policy Values Page 7 - Summary of Basic Coverages Page 9 - Sensitivity Analysis Page 11 - Plan Activity Summary Page 13 - Policy Taxation Summary Page 154. Statement of Variability Page 17

If you have any questions, please feel free to ask me.Sun Life Financial




Section 1. Illustration Details

All basic coverages and additional benefits illustrated will be subject to underwriting review and approval.Please refer to the SunUniversalLife client guide for additional information on the product. ** Even though this amount includes the cost for any applicable optional benefits, optional benefits are notincluded in the temporary life insurance coverage.

The following amounts are provided as a guide to help you manage your policy. They are based on the assumptionsused in this report with the primary interest rate.

First Year Annual Payment Amount to Maximize Discounts and Bonuses: $36,660.00Estimated Minimum First Year Annual Payment: $12,470.00Estimated First Year Annual Payment to Keep Policy Tax Exempt: $68,921.54

Definition of age:Age means a person’s age on their birthday nearest to a particular date. This is known as “age nearest”. A person’sage at the policy date means their age on their birthday nearest to a policy date. For example, if the insured person’sactual age is 34 and 7 months, the ‘insurance age’ will be 35. When we say a benefit ends at age 65, it means thepolicy anniversary nearest their 65th birthday.

Basic CoveragesType Cost of

Insurance (COI)InsuranceAmount

RateClass

Additional COIChargesInsured Person(s) Sex Age

Single Level Term $1,000,000 William Client1 M Non-smoker 481

Death Benefit Option: Insurance Amount Plus FundInvestment Bonus: SelectedOptions to Maintain Tax Exempt Status: Insurance Amount Adjustment: Increase Insurance Amount and reverse Non-exempt Fund Allocation: Apply to service account Service Account: Daily InterestPlanned Periodic Payment: $50,000.00 Yearly for 15 yearsAmount Required With Application If Applyingfor Temporary Life Insurance:

$12,470.00 **Initial Insurance Factor: $12,220Assumed Primary Interest Rate: 5.500%Assumed Alternate Interest Rate: 5.500%Assumed Marginal Tax Rate: 45%Premium Tax Rate: 2.00% based on Ontario residence




This report illustrates how the SunUniversalLife MAX policy may perform based on certain assumptions. The Planned Periodic Payment or any payment amounts shown (including minimum or maximum amounts) are not guaranteed and may not be enough to keep the policy in force. Additional payments may be needed if interest assumptions are not met.



Section 2. Fund Investment Options

An important part of developing your SunUniversalLife MAX policy is choosing investment options that are right for you. This section shows historical performance and guaranteed rates for your selected investment options. These returns are net of management fees. Please refer to the Investment Account Fact Sheets for additional information regarding availableinvestment options.

Historical Average: 7.700%This average is based on your illustrated investment mix percentages. The historical average is not a forecast offuture performance. This means the returns you see in the chart are not guaranteed.Historical Average Rates:All historical rates shown have been adjusted to show how the available options would have performed as part of a SunUniversalLife MAX policy. Indexed Account historical figures show average annual increases in the respective Index.Guaranteed Minimum Rates:These rates are the minimum interest rates you will receive according to any GIA you decide to include in your investment mix. There are no guarantees on returns from indexed and managed accounts as market values will fluctuate on a daily basis. For more details on the guaranteed minimums for each of the available investment options, refer to your SunUniversalLife investment account fact sheets. Assumed Interest Rates:Sun Life Financial has determined an appropriate assumed primary interest rate range for this illustration. Ourrange is between 0% or the historical average plus 1% to a maximum of 10%. The assumed primary interest ratefor this illustration is 5.500%.Where Your Money Goes:All payments to a SunUniversalLife MAX plan are first put into the activity account. A minimum amount of $250 must be met for each and every investment option or the entire payment will remain in the activity account until the minimum has been achieved. Allocating smaller percentages to accounts should be avoided if the payments are not substantial to refrain from keeping funds in the activity account for long periods of time.

GuaranteedMinimumRates(%)

InvestmentMix(%)Since

inception(Max 40 yrs)

Investment AccountHistorical Average Rates(%)

2000-2010 2005-2010Canadian Equity 7.7% 2.7% 3.6% N/A 100.0%





Section 3. Illustrations - Policy Values

Actual returns will vary over the life of a policy, affecting the values illustrated on this page. Please refer to theSensitivity Analysis section for an understanding of how Cash Surrender Values and Death Benefits vary underdifferent interest rate assumptions.

(based on an assumed primary interest rate of 5.500%)

Year ClientAge Payments Before Tax

WithdrawalsDeath

BenefitPolicyFundValue

ServiceAccountBalance

CashSurrender

ValueAssumed

InterestRate

1 49 $50,000 $0 $1,039,114 $39,114 $0 $14,674 5.50%2 50 $50,000 $0 $1,083,229 $83,229 $0 $34,349 5.50%3 51 $50,000 $0 $1,129,952 $129,952 $0 $81,072 5.50%4 52 $50,000 $0 $1,179,437 $179,437 $0 $130,557 5.50%5 53 $50,000 $0 $1,231,847 $231,847 $0 $182,967 5.50%6 54 $50,000 $0 $1,287,354 $287,354 $0 $250,694 5.50%7 55 $50,000 $0 $1,346,143 $346,143 $0 $309,483 5.50%8 56 $50,000 $0 $1,408,406 $408,406 $0 $371,746 5.50%9 57 $50,000 $0 $1,474,350 $474,350 $0 $449,910 5.50%10 58 $50,000 $0 $1,553,362 $544,192 $0 $531,972 5.50%11 59 $50,000 $0 $1,640,544 $618,012 $0 $618,012 5.50%12 60 $50,000 $0 $1,695,963 $695,963 $0 $695,963 5.50%13 61 $50,000 $0 $1,778,904 $778,904 $0 $778,904 5.50%14 62 $50,000 $0 $1,866,747 $866,747 $0 $866,747 5.50%15 63 $50,000 $0 $1,959,783 $959,783 $0 $959,783 5.50%16 64 $0 $0 $2,006,430 $1,006,430 $0 $1,006,430 5.50%17 65 $0 $0 $2,055,834 $1,055,834 $0 $1,055,834 5.50%18 66 $0 $0 $2,108,159 $1,108,159 $0 $1,108,159 5.50%19 67 $0 $0 $2,163,576 $1,163,576 $0 $1,163,576 5.50%20 68 $0 $0 $2,222,269 $1,222,269 $0 $1,222,269 5.50%21 69 $0 $0 $2,284,432 $1,284,432 $0 $1,284,432 5.50%22 70 $0 $0 $2,350,268 $1,350,268 $0 $1,350,268 5.50%23 71 $0 $0 $2,419,997 $1,419,997 $0 $1,419,997 5.50%24 72 $0 $0 $2,493,846 $1,493,846 $0 $1,493,846 5.50%25 73 $0 $0 $2,572,061 $1,572,061 $0 $1,572,061 5.50%26 74 $0 $0 $2,654,900 $1,654,900 $0 $1,654,900 5.50%27 75 $0 $0 $2,742,634 $1,742,634 $0 $1,742,634 5.50%28 76 $0 $0 $2,835,555 $1,835,555 $0 $1,835,555 5.50%29 77 $0 $0 $2,933,968 $1,933,968 $0 $1,933,968 5.50%30 78 $0 $0 $3,038,198 $2,038,198 $0 $2,038,198 5.50%




This illustration projects values for SunUniversalLife MAX with an annual investment bonus beginning at the end of year 2 and any discounts in the annual cost of insurance if applicable. The policy values in the table above include the bonus. The Cash Surrender Value includes any balance in the Service Account and is net of surrender charges.The Death Benefit does NOT include any balance in the Service Account.

Year ClientAge Payments Before Tax

WithdrawalsDeath

BenefitPolicyFundValue

ServiceAccountBalance

CashSurrender

ValueAssumed

InterestRate

31 79 $0 $0 $3,148,589 $2,148,589 $0 $2,148,589 5.50%32 80 $0 $0 $3,265,505 $2,265,505 $0 $2,265,505 5.50%33 81 $0 $0 $3,389,332 $2,389,332 $0 $2,389,332 5.50%34 82 $0 $0 $3,520,479 $2,520,479 $0 $2,520,479 5.50%35 83 $0 $0 $3,659,377 $2,659,377 $0 $2,659,377 5.50%36 84 $0 $0 $3,806,485 $2,806,485 $0 $2,806,485 5.50%37 85 $0 $0 $3,962,289 $2,962,289 $0 $2,962,289 5.50%38 86 $0 $0 $4,127,302 $3,127,302 $0 $3,127,302 5.50%39 87 $0 $0 $4,302,069 $3,302,069 $0 $3,302,069 5.50%40 88 $0 $0 $4,487,167 $3,487,167 $0 $3,487,167 5.50%41 89 $0 $0 $4,683,205 $3,683,205 $0 $3,683,205 5.50%42 90 $0 $0 $4,890,831 $3,890,831 $0 $3,890,831 5.50%43 91 $0 $0 $5,110,729 $4,110,729 $0 $4,110,729 5.50%44 92 $0 $0 $5,343,625 $4,343,625 $0 $4,343,625 5.50%45 93 $0 $0 $5,590,288 $4,590,288 $0 $4,590,288 5.50%46 94 $0 $0 $5,851,531 $4,851,531 $0 $4,851,531 5.50%47 95 $0 $0 $6,128,215 $5,128,215 $0 $5,128,215 5.50%48 96 $0 $0 $6,421,254 $5,421,254 $0 $5,421,254 5.50%49 97 $0 $0 $6,731,614 $5,731,614 $0 $5,731,614 5.50%50 98 $0 $0 $7,060,320 $6,060,320 $0 $6,060,320 5.50%51 99 $0 $0 $7,408,454 $6,408,454 $0 $6,408,454 5.50%52 100 $0 $0 $7,777,167 $6,777,167 $0 $6,777,167 5.50%




Section 3. Illustrations - Summary of Basic Coverages

Summary for Basic Coverage #1(based on an assumed primary interest rate of 5.500%)

Year Cost ofInsurance

FundingRatio

InsuranceDiscount

Net Costof

InsuranceDeath

BenefitClientAge = -

1 $12,220 4.0917$0$12,220 $1,039,114492 $12,220 4.0917$2,444$9,776 $1,083,229503 $12,220 4.0917$2,444$9,776 $1,129,952514 $12,220 4.0917$2,444$9,776 $1,179,437525 $12,220 4.0917$2,444$9,776 $1,231,847536 $12,220 4.0917$2,444$9,776 $1,287,354547 $12,220 4.0917$2,444$9,776 $1,346,143558 $12,220 4.0917$2,444$9,776 $1,408,406569 $12,220 4.0917$2,444$9,776 $1,474,3505710 $12,220 4.0917$2,444$9,776 $1,553,3625811 $12,402 4.0917$2,480$9,922 $1,640,5445912 $12,684 4.0917$2,537$10,147 $1,695,9636013 $12,220 4.0917$2,444$9,776 $1,778,9046114 $12,220 4.0917$2,444$9,776 $1,866,7476215 $12,220 4.0917$2,444$9,776 $1,959,7836316 $12,220 3.8359$2,444$9,776 $2,006,4306417 $12,220 3.6103$2,444$9,776 $2,055,8346518 $12,220 3.4097$2,444$9,776 $2,108,1596619 $12,220 3.2303$2,444$9,776 $2,163,5766720 $12,220 3.0687$2,444$9,776 $2,222,2696821 $12,220 2.9226$2,444$9,776 $2,284,4326922 $12,220 2.7898$2,444$9,776 $2,350,2687023 $12,220 2.6685$2,444$9,776 $2,419,9977124 $12,220 2.5573$2,444$9,776 $2,493,8467225 $12,220 2.4550$2,444$9,776 $2,572,0617326 $12,220 2.3606$2,444$9,776 $2,654,9007427 $12,220 2.2731$2,444$9,776 $2,742,6347528 $12,220 2.1920$2,444$9,776 $2,835,5557629 $12,220 2.1164$2,444$9,776 $2,933,9687730 $12,220 2.0458$2,444$9,776 $3,038,1987831 $12,220 1.9798$2,444$9,776 $3,148,5897932 $12,220 1.9180$2,444$9,776 $3,265,50580




Year Cost ofInsurance

FundingRatio

InsuranceDiscount

Net Costof

InsuranceDeath

BenefitClientAge = -

33 $12,220 1.8598$2,444$9,776 $3,389,3328134 $12,220 1.8051$2,444$9,776 $3,520,4798235 $12,220 1.7536$2,444$9,776 $3,659,3778336 $12,220 1.7049$2,444$9,776 $3,806,4858437 $12,220 1.6588$2,444$9,776 $3,962,2898538 $12,220 1.6151$2,444$9,776 $4,127,3028639 $12,220 1.5737$2,444$9,776 $4,302,0698740 $12,220 1.5344$2,444$9,776 $4,487,1678841 $12,220 1.4969$2,444$9,776 $4,683,2058942 $12,220 1.4613$2,444$9,776 $4,890,8319043 $12,220 1.4273$2,444$9,776 $5,110,7299144 $12,220 1.3949$2,444$9,776 $5,343,6259245 $12,220 1.3639$2,444$9,776 $5,590,2889346 $12,220 1.3342$2,444$9,776 $5,851,5319447 $12,220 1.3058$2,444$9,776 $6,128,2159548 $12,220 1.2786$2,444$9,776 $6,421,2549649 $12,220 1.2525$2,444$9,776 $6,731,6149750 $12,220 1.2275$2,444$9,776 $7,060,3209851 $12,220 1.2034$2,444$9,776 $7,408,4549952 $12,220 1.1803$2,444$9,776 $7,777,167100

The Net Cost of Insurance is based on the Cost of Insurance less the Insurance Discount, which is calculated using the Funding Ratio. Actual returns will vary over the life of a policy affecting the values illustrated on this page. Please refer to theSensitivity Analysis section for an understanding of how Cash Surrender Values and Death Benefits vary underdifferent interest rate assumptions.The Death Benefit does NOT include any balance in the Service Account.




Section 3. Illustrations - Sensitivity Analysis

To give you an idea of how interest rates can affect your SunUniversalLife MAX policy, the following Sensitivity Analysis shows how your Cash Surrender Values and Death Benefits will perform under three different interest rate environments based on the illustration assumptions. All values illustrated below include any balance in the Service Account.

Cash Surrender Values (CSV) Total Policy Death BenefitsYear 5.500% 2.000% 5.500%5.500% 2.000%5.500%

1 $14,674 $13,188 $1,039,114$1,039,114 $1,037,628$14,6742 $34,349 $29,921 $1,083,229$1,083,229 $1,078,801$34,3493 $81,072 $72,084 $1,129,952$1,129,952 $1,120,964$81,0724 $130,557 $115,260 $1,179,437$1,179,437 $1,164,140$130,5575 $182,967 $159,475 $1,231,847$1,231,847 $1,208,355$182,9676 $250,694 $216,972 $1,287,354$1,287,354 $1,253,632$250,6947 $309,483 $263,338 $1,346,143$1,346,143 $1,299,998$309,4838 $371,746 $310,818 $1,408,406$1,408,406 $1,347,478$371,7469 $449,910 $371,660 $1,474,350$1,474,350 $1,396,100$449,91010 $531,972 $433,671 $1,553,362$1,553,362 $1,445,891$531,97211 $618,012 $496,879 $1,640,544$1,640,544 $1,496,879$618,01212 $695,963 $549,092 $1,695,963$1,695,963 $1,549,092$695,96313 $778,904 $602,561 $1,778,904$1,778,904 $1,602,561$778,90414 $866,747 $657,315 $1,866,747$1,866,747 $1,657,315$866,74715 $959,783 $713,385 $1,959,783$1,959,783 $1,713,385$959,78316 $1,006,430 $720,633 $2,006,430$2,006,430 $1,720,633$1,006,43017 $1,055,834 $728,056 $2,055,834$2,055,834 $1,728,056$1,055,83418 $1,108,159 $735,657 $2,108,159$2,108,159 $1,735,657$1,108,15919 $1,163,576 $743,441 $2,163,576$2,163,576 $1,743,441$1,163,57620 $1,222,269 $751,412 $2,222,269$2,222,269 $1,751,412$1,222,26921 $1,284,432 $759,574 $2,284,432$2,284,432 $1,759,574$1,284,43222 $1,350,268 $767,933 $2,350,268$2,350,268 $1,767,933$1,350,26823 $1,419,997 $776,493 $2,419,997$2,419,997 $1,776,493$1,419,99724 $1,493,846 $785,258 $2,493,846$2,493,846 $1,785,258$1,493,84625 $1,572,061 $794,234 $2,572,061$2,572,061 $1,794,234$1,572,06126 $1,654,900 $803,426 $2,654,900$2,654,900 $1,803,426$1,654,90027 $1,742,634 $812,839 $2,742,634$2,742,634 $1,812,839$1,742,63428 $1,835,555 $822,479 $2,835,555$2,835,555 $1,822,479$1,835,55529 $1,933,968 $832,350 $2,933,968$2,933,968 $1,832,350$1,933,96830 $2,038,198 $842,458 $3,038,198$3,038,198 $1,842,458$2,038,198




Things You Should Know: - An interest rate of 5.500% chosen by you and your advisor is within Sun Life Financial's range for the assumed primary interest rate (please see Fund Investment Options section). - An assumed alternate interest rate of 5.500% was chosen by you and your advisor for illustration purposes. - A rate of 2.000% was also provided in this illustration to demonstrate how this policy would perform in an interest environment lower than current levels.

Cash Surrender Values (CSV) Total Policy Death BenefitsYear 5.500% 2.000% 5.500%5.500% 2.000%5.500%

31 $2,148,589 $852,809 $3,148,589$3,148,589 $1,852,809$2,148,58932 $2,265,505 $863,409 $3,265,505$3,265,505 $1,863,409$2,265,50533 $2,389,332 $874,264 $3,389,332$3,389,332 $1,874,264$2,389,33234 $2,520,479 $885,380 $3,520,479$3,520,479 $1,885,380$2,520,47935 $2,659,377 $896,763 $3,659,377$3,659,377 $1,896,763$2,659,37736 $2,806,485 $908,420 $3,806,485$3,806,485 $1,908,420$2,806,48537 $2,962,289 $920,357 $3,962,289$3,962,289 $1,920,357$2,962,28938 $3,127,302 $932,581 $4,127,302$4,127,302 $1,932,581$3,127,30239 $3,302,069 $945,099 $4,302,069$4,302,069 $1,945,099$3,302,06940 $3,487,167 $957,918 $4,487,167$4,487,167 $1,957,918$3,487,16741 $3,683,205 $971,045 $4,683,205$4,683,205 $1,971,045$3,683,20542 $3,890,831 $984,487 $4,890,831$4,890,831 $1,984,487$3,890,83143 $4,110,729 $998,253 $5,110,729$5,110,729 $1,998,253$4,110,72944 $4,343,625 $1,012,350 $5,343,625$5,343,625 $2,012,350$4,343,62545 $4,590,288 $1,026,785 $5,590,288$5,590,288 $2,026,785$4,590,28846 $4,851,531 $1,041,568 $5,851,531$5,851,531 $2,041,568$4,851,53147 $5,128,215 $1,056,705 $6,128,215$6,128,215 $2,056,705$5,128,21548 $5,421,254 $1,072,207 $6,421,254$6,421,254 $2,072,207$5,421,25449 $5,731,614 $1,088,082 $6,731,614$6,731,614 $2,088,082$5,731,61450 $6,060,320 $1,104,338 $7,060,320$7,060,320 $2,104,338$6,060,32051 $6,408,454 $1,120,985 $7,408,454$7,408,454 $2,120,985$6,408,45452 $6,777,167 $1,138,032 $7,777,167$7,777,167 $2,138,032$6,777,167




Section 3. Illustrations - Plan Activity Summary

(based on an assumed primary interest rate of 5.500%)Charges Credits

YearProvincialPremium

TaxCost of

InsuranceBenefit

Cost Interest Discounts& Bonuses

PaymentsLess

WithdrawalsYear End

PlanValue

1 $1,000 $12,220 $0 $2,334 $0$50,000 $39,1142 $1,000 $12,220 $0 $4,557 $2,778$50,000 $83,2293 $1,000 $12,220 $0 $6,984 $2,959$50,000 $129,9524 $1,000 $12,220 $0 $9,554 $3,151$50,000 $179,4375 $1,000 $12,220 $0 $12,275 $3,355$50,000 $231,8476 $1,000 $12,220 $0 $15,158 $3,570$50,000 $287,3547 $1,000 $12,220 $0 $18,211 $3,798$50,000 $346,1438 $1,000 $12,220 $0 $21,444 $4,040$50,000 $408,4069 $1,000 $12,220 $0 $24,868 $4,295$50,000 $474,35010 $1,000 $12,220 $0 $28,495 $4,566$50,000 $544,19211 $1,000 $12,402 $0 $32,332 $4,889$50,000 $618,01212 $1,000 $12,684 $0 $36,386 $5,249$50,000 $695,96313 $1,000 $12,220 $0 $40,684 $5,477$50,000 $778,90414 $1,000 $12,220 $0 $45,246 $5,818$50,000 $866,74715 $1,000 $12,220 $0 $50,077 $6,179$50,000 $959,78316 $0 $12,220 $0 $52,499 $6,368$0 $1,006,43017 $0 $12,220 $0 $55,065 $6,559$0 $1,055,83418 $0 $12,220 $0 $57,782 $6,762$0 $1,108,15919 $0 $12,220 $0 $60,660 $6,978$0 $1,163,57620 $0 $12,220 $0 $63,708 $7,205$0 $1,222,26921 $0 $12,220 $0 $66,936 $7,446$0 $1,284,43222 $0 $12,220 $0 $70,355 $7,702$0 $1,350,26823 $0 $12,220 $0 $73,976 $7,972$0 $1,419,99724 $0 $12,220 $0 $77,811 $8,259$0 $1,493,84625 $0 $12,220 $0 $81,873 $8,562$0 $1,572,06126 $0 $12,220 $0 $86,175 $8,884$0 $1,654,90027 $0 $12,220 $0 $90,731 $9,224$0 $1,742,63428 $0 $12,220 $0 $95,556 $9,585$0 $1,835,55529 $0 $12,220 $0 $100,667 $9,966$0 $1,933,96830 $0 $12,220 $0 $106,079 $10,371$0 $2,038,19831 $0 $12,220 $0 $111,812 $10,799$0 $2,148,58932 $0 $12,220 $0 $117,884 $11,253$0 $2,265,505




Plan Value is the Policy Fund Value plus the Service Account balance.Provincial Premium Tax of 2.00% (Ontario) is applied to each payment.

Charges Credits

YearProvincialPremium

TaxCost of

InsuranceBenefit

Cost Interest Discounts& Bonuses

PaymentsLess

WithdrawalsYear End

PlanValue

33 $0 $12,220 $0 $124,314 $11,733$0 $2,389,33234 $0 $12,220 $0 $131,124 $12,242$0 $2,520,47935 $0 $12,220 $0 $138,337 $12,781$0 $2,659,37736 $0 $12,220 $0 $145,977 $13,351$0 $2,806,48537 $0 $12,220 $0 $154,068 $13,956$0 $2,962,28938 $0 $12,220 $0 $162,637 $14,596$0 $3,127,30239 $0 $12,220 $0 $171,713 $15,274$0 $3,302,06940 $0 $12,220 $0 $181,325 $15,992$0 $3,487,16741 $0 $12,220 $0 $191,505 $16,753$0 $3,683,20542 $0 $12,220 $0 $202,287 $17,558$0 $3,890,83143 $0 $12,220 $0 $213,707 $18,412$0 $4,110,72944 $0 $12,220 $0 $225,801 $19,315$0 $4,343,62545 $0 $12,220 $0 $238,611 $20,272$0 $4,590,28846 $0 $12,220 $0 $252,177 $21,286$0 $4,851,53147 $0 $12,220 $0 $266,545 $22,359$0 $5,128,21548 $0 $12,220 $0 $281,763 $23,496$0 $5,421,25449 $0 $12,220 $0 $297,880 $24,700$0 $5,731,61450 $0 $12,220 $0 $314,950 $25,975$0 $6,060,32051 $0 $12,220 $0 $333,029 $27,326$0 $6,408,45452 $0 $12,220 $0 $352,176 $28,757$0 $6,777,167




Section 3. Illustrations - Policy Taxation Summary

This illustration assumes that current Income Tax Act (Canada) rules affecting life insurance will remain the same.It should be noted that these rules can change at any time.

(based on an assumed primary interest rate of 5.500%)

YearNet Cost

of PureInsurance

AdjustedCost

BasisTax on

Withdrawal*Cash

SurrenderValue

Tax onSurrender*

Tax onService

Account*Withdrawals

1 $1,412 $48,588$0 $14,674 $0 $0$02 $1,692 $96,896$0 $34,349 $0 $0$03 $1,965 $144,932$0 $81,072 $0 $0$04 $2,278 $192,654$0 $130,557 $0 $0$05 $2,675 $239,979$0 $182,967 $0 $0$06 $3,124 $286,855$0 $250,694 $0 $0$07 $3,677 $333,178$0 $309,483 $0 $0$08 $4,305 $378,872$0 $371,746 $0 $0$09 $4,933 $423,940$0 $449,910 $11,687 $0$010 $5,619 $468,321$0 $531,972 $28,643 $0$011 $6,367 $511,954$0 $618,012 $47,726 $0$012 $7,326 $554,628$0 $695,963 $63,601 $0$013 $8,168 $596,460$0 $778,904 $82,100 $0$014 $9,362 $637,098$0 $866,747 $103,342 $0$015 $10,810 $676,288$0 $959,783 $127,573 $0$016 $13,754 $662,534$0 $1,006,430 $154,753 $0$017 $15,583 $646,951$0 $1,055,834 $183,998 $0$018 $17,504 $629,447$0 $1,108,159 $215,421 $0$019 $19,541 $609,906$0 $1,163,576 $249,152 $0$020 $21,684 $588,222$0 $1,222,269 $285,322 $0$021 $23,989 $564,233$0 $1,284,432 $324,090 $0$022 $26,578 $537,655$0 $1,350,268 $365,676 $0$023 $29,554 $508,101$0 $1,419,997 $410,353 $0$024 $32,875 $475,226$0 $1,493,846 $458,379 $0$025 $36,503 $438,723$0 $1,572,061 $510,002 $0$026 $40,352 $398,371$0 $1,654,900 $565,438 $0$027 $44,367 $354,004$0 $1,742,634 $624,884 $0$028 $48,405 $305,599$0 $1,835,555 $688,480 $0$029 $52,721 $252,878$0 $1,933,968 $756,491 $0$030 $57,592 $195,286$0 $2,038,198 $829,311 $0$0




* Assumes a marginal tax rate of 45%.The Cash Surrender Value includes any balance in the Service Account.Withdrawals include any transfers to the Service Account.

YearNet Cost

of PureInsurance

AdjustedCost

BasisTax on

Withdrawal*Cash

SurrenderValue

Tax onSurrender*

Tax onService

Account*Withdrawals

31 $63,157 $132,129$0 $2,148,589 $907,407 $0$032 $69,413 $62,716$0 $2,265,505 $991,255 $0$033 $76,390 $0$0 $2,389,332 $1,075,200 $0$034 $84,173 $0$0 $2,520,479 $1,134,215 $0$035 $92,858 $0$0 $2,659,377 $1,196,720 $0$036 $102,647 $0$0 $2,806,485 $1,262,918 $0$037 $113,278 $0$0 $2,962,289 $1,333,030 $0$038 $124,594 $0$0 $3,127,302 $1,407,286 $0$039 $136,369 $0$0 $3,302,069 $1,485,931 $0$040 $148,521 $0$0 $3,487,167 $1,569,225 $0$041 $160,583 $0$0 $3,683,205 $1,657,442 $0$042 $172,793 $0$0 $3,890,831 $1,750,874 $0$043 $185,129 $0$0 $4,110,729 $1,849,828 $0$044 $197,600 $0$0 $4,343,625 $1,954,631 $0$045 $210,446 $0$0 $4,590,288 $2,065,630 $0$046 $223,856 $0$0 $4,851,531 $2,183,189 $0$047 $238,977 $0$0 $5,128,215 $2,307,697 $0$048 $256,860 $0$0 $5,421,254 $2,439,564 $0$049 $278,430 $0$0 $5,731,614 $2,579,226 $0$050 $305,620 $0$0 $6,060,320 $2,727,144 $0$051 $340,260 $0$0 $6,408,454 $2,883,805 $0$052 $384,440 $0$0 $6,777,167 $3,049,725 $0$0



Section 4. Statement of Variability

More specifically, interest rates and the performance of securities markets, in particular, can fluctuate significantly. Actual results will differ upward or downward from those illustrated, because they are highly dependent upon anumber of variables (including those listed above) and even a small change in any of these variables could have adramatic negative impact on the non-guaranteed figures shown in this illustration.This illustration will not become part of the policy and was provided solely to illustrate how policy values maychange over time based on different sets of assumptions.Unless indicated as “Guaranteed”, the values in this illustration are not guaranteed, are hypothetical only and arebased on assumptions that are certain to change. They are neither an estimate nor a guarantee of future policyperformance.

A SunUniversalLife MAX policy is designed to be a flexible solution for my life insurance and investment needs. However, it is a complex financial product and there are many variables that can affect the policy’s performance, including the following:

· the type and future investment performance of the investment option(s) selected · the timing and amount of future payments to the policy · the timing and amount of future cash withdrawals and loans from the policy · future federal and provincial income tax rules.




William Client1 - Sun Life Financial · Prepared especially for: William Client1 Corporate Retirement Strategy The corporation may post the entire death benefit to its capital dividend

Documents