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U.S. SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 24F-2
ANNUAL NOTICE OF SECURITIES SOLD
PURSUANT TO RULE 24f-2
READ INSTRUCTIONS AS AND OF FORM BEFORE PREPARING FORM.
PLEASE PRINT OR TYPE.
______________________________________________________________________________
1. Name and address of issuer:
Sun Life Assurance Company of Canada (U.S.)
One Sun Life Executive Park
Wellesley Hills, MA 02181
______________________________________________________________________________
2. Name of each series or class of funds for which this notice is filed:
Sun Life Assurance Company of Canada (U.S.)
High Yield Variable Account
______________________________________________________________________________
3. Investment Company Act File Number: 811-3562
Securities Act File Number: 2-79142
______________________________________________________________________________
4. Last day of fiscal year for which this notice is filed:
December 31, 1995
______________________________________________________________________________
5. Check box if this notice is being filed more than 180 days after the close
of the issuer's fiscal year for purposes of reporting securities sold
after the close of the fiscal year but before termination of the issuer's
24f-2 declaration:
/ /
______________________________________________________________________________
6. Date of termination of issuer's declaration under rule 24f-2(a)(1), if
applicable (see instruction A.6):
______________________________________________________________________________
7. Number and amount of securities of the same class or series which had been
registered under the Securities Act of 1933 other than pursuant to rule
24f-2 in a prior fiscal year, but which remained unsold at the beginning
of the fiscal year:
None
______________________________________________________________________________
8. Number and amount of securities registered during the fiscal year other
than pursuant to rule 24f-2:
None
______________________________________________________________________________
9. Number and aggregate sale price of securities sold during the fiscal
year:
106,669 units were sold with an aggregate sale price of $2,617,591
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______________________________________________________________________________
10. Number and aggregate sale price of securities sold during the fiscal
year in reliance upon registration pursuant to rule 24f-2.
See response to Item 9 above
______________________________________________________________________________
11. Number and aggregate sale price of securities issued during the fiscal
year in connection with dividend reinvestment plans, if applicable (see
instruction B.7):
None
______________________________________________________________________________
12. Calculation of registration fee:
(i) Aggregate sale price of securities sold during $ 2,617,591
the fiscal year in reliance on rule 24f-2 ___________________
(from Item 10):
(ii) Aggregate price of shares issued in connection + -0-
with dividend reinvestment plans (from Item 11, ___________________
if applicable):
(iii) Aggregate price of shares redeemed or repurchased - 22,340,690
during the fiscal year (if applicable): ___________________
(iv) Aggregate price of shares redeemed or repurchased + -0-
and previously applied as a reduction to filing ___________________
fees pursuant to rule 24e-2 (if applicable):
(v) Net aggregate price of securities sold and issued =(19,723,099)
during the fiscal year in reliance on rule 24f-2 ___________________
line (i), plus line (ii), less line (iii), plus
line (iv) (if applicable):
(vi) Multiplier prescribed by Section 8(b) of the x 1/2900
Securities Act of 1933 or other applicable law or ___________________
regulation (see instruction C.8):
(vii) Fee due (line (i) or line (v) multiplied by = -0-
line (vi)): ___________________
INSTRUCTION: ISSUERS SHOULD COMPLETE LINES (ii), (iii), (iv), AND (v) ONLY IF
THE FORM IS BEING FILED WITHIN 60 DAYS AFTER THE CLOSE OF THE
ISSUER'S FISCAL YEAR. See Instruction C.3.
_______________________________________________________________________________
13. Check box if fees are being remitted to the Commission's lockbox
depository as described in section 3a of the Commission's Rules of
informal and Other Procedures (17 CFR 202.3a).
/ /
Date of mailing or wire transfer of filing fees to the Commission's
lockbox depository:
_______________________________________________________________________________
SIGNATURES
This report has been signed below by the following persons on behalf of
the issuer and in the capacities and on the dates indicated.
By (Signature and Title)* Bonnie S. Angus
_____________________________________________
Secretary
______________________________________________
Date February , 1996
________________________
*Please print the name and title of the signing officer below the signature.
_______________________________________________________________________________
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February 27, 1996
Sun Life Assurance Company of Canada (U.S.)
High Yield Variable Account
Wellesley Hills, Massachusetts 02181
Gentlemen:
I have acted as counsel for Sun Life Assurance Company of Canada (U.S.) High
Yield Variable Account (the "Account") in connection with its organization, the
proposed issuance of its units, and the preparation of the Registration
Statement on Form N-3 (File No. 2-79142) filed by the Account under the
Securities Act of 1933 and the Investment Company Act of 1940 (the "Registration
Statement").
I understand that pursuant to Rule 24f-2 under the Investment Company Act of
1940, the Account has registered an indefinite number of units of beneficial
interest under the Securities Act of 1933.
I further understand that the Account intends to file a notice pursuant to Rule
24f-2 making definite the registration of 106,669 units of the Account sold in
reliance upon said Rule 24f-2 during the fiscal year ended December 31, 1995
(the "Units").
I have examined the governing instruments of the Account and a resolution of the
Account's governing body authorizing the issuance of units of the Account. I
have also examined a certificate of the Treasurer of the Account to the effect
that the Account received the cash consideration for each of the Units in
accordance with the terms of such resolution. In addition, I have made such
examination of law and have examined such other records and documents as I have
deemed appropriate in giving this opinion.
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Sun Life Assurance Company of Canada (U.S.)
High Yield Variable Account
February 27, 1996
Page 2
I am of the opinion that all necessary Account action precedent to the issue of
all the authorized but unissued units of the Account, including the Units, has
been duly taken, and that all such Units were legally and validly issued, and
are fully paid and non-assessable. I express no opinion as to compliance with
the Securities Act of 1933, the Investment Company Act of 1940 or applicable
state laws regulating the sale of securities in connection with sales of the
Units.
I consent to your filing this opinion with the Securities and Exchange
Commission together with the Rule 24f-2 Notice referred to above.
Very truly yours,
David D. Horn, Esq.
Senior Vice President and
General Manager
Sun Life Assurance Company
of Canada (U.S.)
DDH/clm
0932b
HYVA-2
