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RULE 497(e)
REG. NO. 33-41628
SUPPLEMENT DATED DECEMBER 9, 1998
TO THE
PROSPECTUS DATED MAY 1, 1998
FOR THE MFS REGATTA GOLD
COMBINATION FIXED AND VARIABLE ANNUITY CONTRACTS
AND THE
PROSPECTUS DATED MAY 1, 1998
FOR THE MFS REGATTA PLATINUM
COMBINATION FIXED AND VARIABLE ANNUITY CONTRACTS
ISSUED BY SUN LIFE ASSURANCE COMPANY OF CANADA (U.S.)
The Prospectuses are hereby modified as follows:
- - Reference on pages 2 and 20 to Guarantee Period(s) "of from one to ten
years" is changed to "up to ten years."
- - Reference in the first paragraph of the "Guarantee Periods" section on page
20 to "end the number of calendar years" is changed to "end the number of
calendar years or months, as applicable."
- - The first through third paragraphs of the "Dollar Cost Averaging" section on
page 21 of the MFS Regatta Gold Prospectus are deleted in their entirety and
replaced with the following:
The Participant may select, at no extra charge, a dollar cost
averaging program by allocating a minimum of $5,000 to a designated
Sub-Account or to the Fixed Account. Amounts allocated to the Fixed
Account under the program will earn interest at a specified rated declared
by the Company. Each month or quarter, a level amount will be transferred
automatically, at no cost, to one or more Sub-Accounts chosen by the
Participant, up to a maximum of 12. The program continues until the
Participant's Account Value allocated to the program is depleted or the
Participant elects to stop the program. The final amount transferred from
the Fixed Account will include all interest earned.
Only initial and subsequent Purchase Payments (subject to a minimum
of $1,000) may be allocated to a Fixed Account Dollar Cost Averaging
Option. Previously applied amounts may only be transferred to a
Sub-Account Dollar Cost Averaging Option. Only one Dollar Cost Averaging
Option may be selected at the time of payment.
- - The first through third paragraphs of the "Dollar Cost Averaging" section
beginning on page 21 of the MFS Regatta Platinum prospectus are deleted in
their entirety and replaced with the following:
The Participant may select, at no extra charge, a dollar cost
averaging program by allocating a minimum of $1,000 to a designated
Sub-Account or to the Fixed Account. Amounts allocated to the Fixed
Account under the program will earn interest at a specified rated declared
by the Company. Each month or quarter, a level amount will be transferred
automatically, at no cost, to one or more Sub-Accounts chosen by the
Participant, up to a maximum of 12. The program continues until the
Participant's Account Value allocated to the program is depleted or
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the Participant elects to stop the program. The final amount transferred
from the Fixed Account will include all interest earned.
Only initial and subsequent Purchase Payments (subject to a minimum
of $1,000) may be allocated to a Dollar Cost Averaging Option. Previously
applied amounts may not be transferred to any Dollar Cost Averaging
Option. Only one Dollar Cost Averaging Option may be selected at the time
of payment.
- - Reference to "with a one year duration" is deleted from the first paragraph
of the "Market Value Adjustment" section on page 26.
- - Reference in the definition of J in the "Market Value Adjustment" section on
page 27 to "(the "Current Rate")," is changed to "or in the case of
Guarantee Periods less than a year, The Guarantee Period will equal the
entire Guarantee Period (the "Current Rate"),".
- - Moody's Investors Services, Inc.'s rating of the Company's financial
strength, appearing in the "Competition" section, has been lowered from Aa1
to Aa2.
DCASUPP 12/98
