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TABLE OF CONTENTS

DEFINITIONS ................................................................................................................................................................... 5 SUMMARY OF CERTIFICATE FEATURES.................................................................................................................. 6 FEE TABLE....................................................................................................................................................................... 7 EXAMPLES....................................................................................................................................................................... 8 CONDENSED FINANCIAL INFORMATION................................................................................................................. 9 SUN LIFE (U.S.) AND THE VARIABLE ACCOUNT .................................................................................................. 12 PURCHASE PAYMENTS, PREMIUM CREDITS AND APPLICATIONS.................................................................. 12 Premium Credits........................................................................................................................................................... 13 INVESTMENTS OF THE VARIABLE ACCOUNT ...................................................................................................... 13 Allocations of Purchase Payments................................................................................................................................ 13 Eligible Funds............................................................................................................................................................... 14 Transfer of Variable Account Value............................................................................................................................. 14 Frequent Transfers........................................................................................................................................................ 15 Substitution of Eligible Funds and Other Variable Account Changes.......................................................................... 16 DEDUCTIONS ................................................................................................................................................................ 16 Deductions for Certificate Maintenance Charge .......................................................................................................... 16 Deductions for Mortality and Expense Risk Charge .................................................................................................... 17 Deductions for Distribution Charge ............................................................................................................................. 17 Deductions for Surrender Charge................................................................................................................................. 17 Deductions for Death Benefit Options ......................................................................................................................... 18 Deductions for Transfers of Variable Account Value .................................................................................................. 19 Deductions for Premium Taxes .................................................................................................................................... 19 Deductions for Income Taxes....................................................................................................................................... 19 Total Variable Account Expenses ................................................................................................................................ 19 Certificate Value Deductions........................................................................................................................................ 19 OTHER SERVICES......................................................................................................................................................... 19 THE CERTIFICATES...................................................................................................................................................... 22 Variable Account Value ............................................................................................................................................... 22 Valuation Periods ......................................................................................................................................................... 23 Net Investment Factor .................................................................................................................................................. 23 Modification of the Certificate ..................................................................................................................................... 23 Right to Revoke............................................................................................................................................................ 23 DEATH PROVISIONS.................................................................................................................................................... 24 Death of a Covered Person ........................................................................................................................................... 24 Standard Death Benefit................................................................................................................................................. 27 Optional Death Benefits ............................................................................................................................................... 27 Death Benefit During the Spousal Continuation Period............................................................................................... 30 Systematic Withdrawal and Systematic Investment Programs..................................................................................... 31 Payment of Death Benefit ............................................................................................................................................ 31 CERTIFICATE OWNERSHIP ........................................................................................................................................ 31 ASSIGNMENT ................................................................................................................................................................ 32 PARTIAL WITHDRAWALS AND SURRENDER........................................................................................................ 32 ANNUITY PROVISIONS ............................................................................................................................................... 33 Annuity Benefits........................................................................................................................................................... 33 Annuity Option and Income Date................................................................................................................................. 33 Annuity Options ........................................................................................................................................................... 33 Variable Annuity Payment Values ............................................................................................................................... 36 Proof of Age, Sex, and Survival of Annuitant.............................................................................................................. 37 SUSPENSION OF PAYMENTS ..................................................................................................................................... 37 TAX STATUS.................................................................................................................................................................. 37 Introduction .................................................................................................................................................................. 37 Taxation of Annuities in General ................................................................................................................................. 37 Qualified Plans ............................................................................................................................................................. 40 Tax-Sheltered Annuities............................................................................................................................................... 41 Individual Retirement Annuities .................................................................................................................................. 41 Corporate Pension and Profit-Sharing Plans ................................................................................................................ 42

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