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Rule 497(e)
File No. 333-05227
SUPPLEMENT DATED JANUARY 8, 1998
TO THE
PROSPECTUS DATED MAY 1, 1997
FOR THE MFS REGATTA GOLD
COMBINATION FIXED AND VARIABLE ANNUITY CONTRACTS,
PROSPECTUS DATED MAY 1, 1997
FOR THE MFS REGATTA CLASSIC
COMBINATION FIXED AND VARIABLE ANNUITY CONTRACTS,
PROSPECTUS DATED MAY 1, 1997
FOR THE MFS REGATTA
COMBINATION FIXED AND VARIABLE ANNUITY CONTRACTS,
AND THE
PROSPECTUS DATED MAY 1, 1997
FOR THE COMPASS G
COMBINATION FIXED/VARIABLE GROUP ANNUITY
FOR QUALIFIED AND NON-QUALIFIED RETIREMENT PLANS
ISSUED BY SUN LIFE ASSURANCE COMPANY OF CANADA (U.S.)
Effective December 24, 1997, Sun Life Assurance Company of Canada (U.S.) (the
"Company") and its ultimate parent, Sun Life Assurance Company of Canada
("Sun Life of Canada"), reorganized the corporate structure of a part of
their United States business operations, by establishing, with the approval
of the Delaware Insurance Department, a two-tier holding company structure.
In connection with this reorganization, Massachusetts Financial Services
Company ("MFS"), the registered investment adviser that serves as adviser to
the MFS/Sun Life Series Trust and the MFS-Registration Mark- World
Governments Fund, the MFS-Registration Mark- Bond Fund, the MFS-Registration
Mark- Total Return Fund, Massachusetts Investors Trust, Massachusetts
Investors Growth Stock Fund and MFS-Registration Mark- Growth Opportunities
Fund, is no longer a subsidiary of the Company, but remains under the control
of Sun Life of Canada through two other wholly-owned holding company
subsidiaries. There is no change in the directors, officers or day to day
management of any of the companies within this holding company system and, in
the case of MFS, its executive officers continue to report to the chairman of
Sun Life of Canada.
MFS, which was acquired by the Company in 1982, has approximately $67 billion
under management as of September 30, 1997. The Company's Statutory Statements
of Operations for the year ended December 31, 1996, reflected dividends from
MFS of $49,350,000 in net investment income and an income tax benefit of
$29,973,000. For the nine month period ending September 30, 1997, the
Company's share of the stockholders' equity of MFS, reflected in the
Statutory Statement of Admitted Assets, Liabilities and Capital Stock and
Surplus, was $54,490,000. This Statement also reflected an intercompany
income tax receivable from MFS of $90,986,000 as of September 30, 1997.
This reorganization is not expected to have any material effect on the
operations of MFS or the Company.
In addition, effective December 31, 1997, the Company acquired 100% of the
common shares of Clarendon Insurance Agency, Inc. ("Clarendon") from MFS .
Clarendon, the general distributor of the Contracts and certain other annuity
contracts issued by the Company, continues to be a registered broker-dealer
under the Securities Exchange Act of 1934 and a member in good standing of
the National Association of Securities Dealers, Inc.
