Sun Life of Canada (U.S.) Distributors Inc., Boston, has started distributing a multimanager annuity called the Futurity Variable Annuity, the first in a portfolio of retirement products the company plans to sell.
The company said it plans to add other products this year to its Futurity line, including fixed annuities, an immediate annuity, and variable life insurance products.
The new annuity, rolled out in mid-February, features an asset- allocation program and the ability for investors to allocate money among the various investment options without incurring taxes.
Sun Life will distribute the funds through an arrangement that lets brokers work with one wholesaler for the entire line of products, as opposed to a wholesaler for each product.
The Futurity Variable Annuity includes investment options managed by nine money management firms.