Sun Life Financial of Canada announces i2Live update

Sun Life Financial of Canada has announced a series of changes to its market leading flexible retirement income product, i2Live.

Effective from 1 December, the underlying fund range has been increased to 79 funds.  Selected in partnership with Old Broad Street Research, the i2Live line-up now includes eight new tracker funds, providing cost effective access to each major equity market, as well as nine new M&G funds - predominantly focusing on fixed income but, also including property and the highly regarded M&G Recovery fund.

Commenting, Mark Stopard, Interim Head of Marketing said: "We are constantly reviewing i2Live to ensure it provides the ultimate flexible retirement income solution.  With OBSR, we have selected a line-up that gives access to the best fund managers across the full range of asset classes and investment strategies demanded by today's investors."

In addition, the drawdown element of i2Live will now allow the inclusion of protected rights funds with an income guarantee.  Finally, the level of equity exposure allowed with the income guarantee ‘turned on' has been revised from 70% to 60% in line with that of other market participants. 

Mark continued: "Like most other companies offering an income guarantee, we have reviewed the maximum allowable equity exposure.   By lowering this to 60% we are delighted to be able to offer the comfort of a protected income while not increasing our charge to provide it.  We have also retained our policy of allowing customers and their advisers to select funds while utilising the guarantee."