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   <TITLE>s-8 form</TITLE>
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<P align="center"> <B><FONT size=4 face="serif">SECURITIES AND EXCHANGE COMMISSION<br>
  </FONT></B><B><FONT size=2 face="serif">Washington, D.C. 20549<br>
  </FONT></B><B><FONT size=4 face="serif">______<br>
  <BR>
  FORM S-8 </FONT></B> </P>
<P align="center"> <B><FONT face="serif">REGISTRATION STATEMENT<br>
  </FONT></B><B><FONT face="serif">UNDER<br>
  </FONT></B><B><FONT face="serif">THE SECURITIES ACT OF 1933<br>
  ____________<BR>
  </FONT></B> <br>
  <B><FONT size=4 face="serif">SUN LIFE FINANCIAL SERVICES OF CANADA INC.<br>
  </FONT></B><FONT size=2 face="serif">(Exact name of registrant as specified
  in its charter) </FONT> </P>
<div align="center">
  <table width="63%" border="0">
    <tr>
      <td width="49%"><div align="center"><B><FONT size=2 face="serif">Ontario,
          Canada </FONT></B> <br>
          <FONT size=2 face="serif">(State or other jurisdiction of incorporation
          or organization) </FONT></div></td>
      <td width="51%"><P align="center"><B><FONT size=2 face="serif">Not Applicable
          </FONT></B> <br>
          <FONT size=2 face="serif">(I.R.S. Employer Identification No.)</FONT></P>
        </td>
    </tr>
  </table>
</div>
<P align="center"> <B><FONT size=2 face="serif">150 King Street West, 6th Floor
  <br>
  Toronto, Ontario <br>
  Canada <br>
  M5H 1J9 </FONT></B> <br>
  <FONT size=2 face="serif">(Address, including zip code, of registrant's principal
  executive offices) <BR>
  _________________<BR>
  </FONT> </P>
<P align="center"> <B><FONT face="serif">SUN LIFE FINANCIAL SERVICES OF CANADA
  INC. EXECUTIVE STOCK OPTION PLAN</FONT></B> <br>
  <FONT size=2 face="serif">(Full title of the plans) <br>
  _________________<BR>
  </FONT> <br>
  <B><FONT size=2 face="serif">Ellen B. King, Secretary </FONT></B> <br>
  <FONT size=2 face="serif">Sun Life Assurance Company of Canada-U.S. Operations
  Holdings, Inc.</FONT> <br>
  <FONT size=2 face="serif">One Sun Life Executive Park <br>
  Wellesley Hills, MA 02481 </FONT> <br>
  <FONT size=2 face="serif">(781) 237-6030</FONT><B><FONT size=2 face="serif">
  </FONT></B> <br>
  <FONT size=2 face="serif">(Name, address, including zip code, and telephone
  number, including area code, of agent for service in the United States) <BR>
  _________________<BR>
  </FONT> <br>
  <I><FONT size=2 face="serif">Copies to: </FONT></I></P>
<div align="center">
  <table width="75%" border="0">
    <tr>
      <td><div align="center"><B><FONT size=2 face="serif">Eric R. Weinheimer,
          Esq. </FONT></B> <br>
          <FONT size=2 face="serif">Sun Life Financial Services of Canada Inc.</FONT>
          <br>
          <FONT size=2 face="serif">150 King Street West <br>
          Toronto, Ontario <br>
          Canada M5H 1J9 <br>
          (416) 979-4825 </FONT></div></td>
      <td><div align="center"><B><FONT size=2 face="serif">Elizabeth W. Powers,
          Esq. </FONT></B> <br>
          <FONT size=2 face="serif">LeBoeuf, Lamb, Greene &amp; MacRae, L.L.P.</FONT>
          <br>
          <FONT size=2 face="serif">125 West 55</FONT><SUP><FONT size=2 face="serif">th</FONT></SUP><FONT size=2 face="serif">
          Street <br>
          New York, NY 10019 <br>
          (212) 424-8000</FONT><B><FONT size=2 face="serif"> </FONT></B></div></td>
    </tr>
  </table>
</div>
<P align="center"><B><FONT size=2 face="serif"> _________________ <BR>
  </FONT></B> <br>
  <B><FONT size=2 face="serif">CALCULATION OF REGISTRATION FEE</FONT></B> </P>
<table width="99%" border="1">
  <tr>
    <td><div align="center"><FONT size=2 face="serif">Title of securities to be
        registered</FONT></div></td>
    <td><div align="center"><FONT size=2 face="serif">Amount to be registered
        (1)</FONT></div></td>
    <td><div align="center"><FONT size=2 face="serif">Proposed maximum offering
        price per share </FONT></div></td>
    <td><div align="center"><FONT size=2 face="serif">Proposed maximum aggregate
        offering price</FONT></div></td>
    <td><div align="center"><FONT size=2 face="serif">Amount of registration fee</FONT></div></td>
  </tr>
  <tr>
    <td><div align="center"><FONT size=2 face="serif">Common Shares, without par
        value</FONT></div></td>
    <td><div align="center"><FONT size=2 face="serif">5,000,000</FONT></div></td>
    <td><div align="center"><FONT size=2 face="serif">$19.975 (2)</FONT></div></td>
    <td><div align="center"><FONT size=2 face="serif">$99,875,000 (2)</FONT></div></td>
    <td><div align="center"><FONT size=2 face="serif">$ 8,079.89</FONT></div></td>
  </tr>
</table>
<br>
<TABLE>
<TR>
   <TD valign="top" width="5%"><FONT size=2 face="serif">(1)</FONT><BR>&nbsp;&nbsp;</TD>
    <TD valign="top"><FONT size=2 face="serif">Pursuant to Rule 416 under the Securities
      Act of 1933, the number of common shares registered hereby is subject to
      adjustment to prevent dilution by reason of any stock dividend, stock split,
      recapitalization or other similar transaction that results in an increase
      in the number of the outstanding common shares of Sun Life Financial Services
      of Canada Inc.</FONT></TD>
</TR>
<TR>
    <TD width="5%" height="55" valign="top"><FONT size=2 face="serif">(2)</FONT><BR>
      &nbsp;&nbsp;</TD>
   <TD valign="top"><FONT size=2 face="serif">Calculated in accordance with Rule 457(h) under the Securities Act of 1933 based on the average of the high and low sales prices per common share of Sun Life Financial Services of Canada Inc. on May 5, 2003, as reported in the consolidated reporting system.</FONT><BR>   </TD>
</TR>
</TABLE>
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<A name="page_2"></A>

<P align="center">
<B><FONT face="serif">PART II </FONT></B>
</P>
<P align="center"> <B><FONT face="serif">INFORMATION REQUIRED IN THE REGISTRATION
  STATEMENT </FONT></B> </P>
<P align="left"> <B><FONT face="serif">Item 3. Incorporation of Documents by Reference.
  </FONT></B> </P>
<P>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="serif">We hereby incorporate by reference into this registration statement the following documents that we have previously filed with the Securities and Exchange Commission: </FONT>
</P>
<ul>
  <li> &nbsp;<FONT face="serif">Annual Report on Form 40-F for the year ended
    December 31, 2002 filed on February 14, 2003, as amended by a Form 40-F/A
    filed on February 18, 2003. <br>
    </FONT> </li>
  <li> &nbsp;<FONT face="serif">Reports on Form 6-K filed on February 4, 2003,
    February 14, 2003, February 20, 2003, March 14, 2003, April 29, 2003, May
    1, 2003 and May 2, 2003. <br>
    </FONT> </li>
  <li> &nbsp;<FONT face="serif">The description of the common shares of Sun Life
    Financial Services of Canada Inc. (the &#147;</FONT><B><FONT face="serif">Company</FONT></B><FONT face="serif">&#148;)
    contained in the Company's registration statement on Form 8-A, dated March
    14, 2000, filed pursuant to Section 12 of the Securities Exchange Act of 1934,
    as amended, and any amendments thereto. </FONT> </li>
</ul>
<P>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="serif">All documents that we file pursuant to Section 13(a), Section 13(c), 14 and 15 (d) of the Securities Exchange Act of 1934 after the date of this registration statement and prior to the filing of a post-effective amendment which indicates that all securities offered hereby have been sold or which deregisters all securities then remaining unsold, shall be deemed to be incorporated by reference into this registration statement and to be a part hereof from the date of filing of such documents. Any statement contained in a document incorporated or deemed to be incorporated by reference herein shall be deemed to be modified or superseded for purposes of this registration statement to the extent that a statement contained herein or in any subsequently filed document which also is deemed to be incorporated by reference herein modifies or supersedes such statement. Any such statement so modified or superseded shall not be deemed, except as so modified or superseded, to constitute a part of this registration statement. </FONT>
</P>
<P>
<B><FONT face="serif">Item 5. Interests of Named Experts and Counsel. </FONT></B>
</P>
<P>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="serif">Eric R. Weinheimer, Esq., Assistant Vice-President and Assistant General Counsel of Sun Life Assurance Company of Canada, a wholly-owned subsidiary of the Company, has given his opinion on the validity of the common shares offered pursuant to this registration statement. As of May 8, 2003, Mr. Weinheimer owned 1,500 shares of the Company&#146;s common stock and 411.67 units of a trust established to acquire and hold common shares of the Company for employees pursuant to an employee stock purchase plan and he is acquiring additional trust units at regular intervals through that employee stock purchase plan. </FONT>
</P>
<P>
<B><FONT face="serif">Item 6. Indemnification of Directors and Officers. </FONT></B>
</P>
<P>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="serif">Subject to any limitations contained in the Insurance Companies Act (Canada), S.C. 1991, c.47, as amended, the by-laws of the Company permit the Company to indemnify a director or an officer, a former director or officer or any person who acts or acted at the Company's request as a director or officer of any entity of which the Company is or was a </FONT>
</P>
<P align="center"> <FONT face="serif">II-1</FONT><FONT size=1 face="serif"> </FONT>
</P>
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<P>
<FONT face="serif">shareholder or creditor, and each such person's heirs and personal representatives, against all costs, charges and expenses, including an amount paid to settle an action or satisfy a judgment reasonably incurred by such person in respect of any civil, criminal or administrative action or proceeding to which such person is made a party by reason of being or having been a director or officer of the Company or such entity, if (a) such person acted honestly and in good faith with a view to the best interests of the Company, and (b) in the case of a criminal or administrative action or proceeding enforced by a monetary penalty, such person had reasonable grounds for believing that the impugned conduct was lawful. The Company may enter into agreements evidencing its indemnity in favor of the foregoing persons to the full extent permitted by law. </FONT>
</P>
<P>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="serif">The Company has entered into indemnification agreements with a number of its officers and directors under which the Company has agreed to indemnify them against costs, charges, fines and expenses, including amounts paid to settle an action or satisfy a judgment, reasonably incurred by an officer or director in respect of any civil, criminal or administrative action or proceeding to which such person is made a party by reason of being or having been a director or officer of the Company, subject to any limitations contained in the Insurance Companies Act (Canada), S.C. 1991, c.47, as amended. The Company also has entered into similar agreements with individuals who serve at the written request of the Company as a director, officer, employee, trustee, agent or fiduciary of another entity. </FONT>
</P>
<P> <B><FONT face="serif">Item 8. Exhibits </FONT></B> </P>
<table width="100%" border="0">
  <tr>
    <td width="10%"><B><FONT face="serif">Exhibit<br>
      </FONT></B><B><U><FONT face="serif">Number</FONT></U></B></td>
    <td width="90%"><B><U><FONT face="serif"><br>
      Description</FONT></U></B></td>
  </tr>
  <tr>
    <td><FONT face="serif">4.1</FONT></td>
    <td><FONT face="serif">Letters Patent of Incorporation and Amending Letters
      Patent of Incorporation of Sun Life Financial Services of Canada Inc. (incorporated
      herein by reference to Exhibit (1)(a) to the Company&#146;s Registration
      Statement on Form 8-A, dated March 14, 2000).</FONT></td>
  </tr>
  <tr>
    <td>4.2</td>
    <td><FONT face="serif">Amended and Restated By-law No. 1 of Sun Life Financial
      Services of Canada Inc. and By-law No. 2 of Sun Life Financial Services
      of Canada Inc.(incorporated herein by reference to Exhibit (1)(b) to the
      Company's Registration Statement on Form 8-A, dated March 14, 2000).</FONT>
    </td>
  </tr>
  <tr>
    <td>5</td>
    <td><FONT face="serif">Opinion and Consent of Eric R. Weinheimer, Esq., Assistant
      Vice-President and Assistant General Counsel of Sun Life Assurance Company
      of Canada</FONT></td>
  </tr>
  <tr>
    <td>23</td>
    <td><FONT face="serif">Consent of Deloitte &amp; Touche LLP, independent auditors.
      </FONT></td>
  </tr>
  <tr>
    <td>24</td>
    <td><FONT face="serif">Power of Attorney of Officers and Directors of Sun
      Life Financial Services of Canada Inc. (set forth on the signature page
      of this registration statement). </FONT> </td>
  </tr>
</table>
<P><B><FONT face="serif">Item 9. Undertakings. </FONT></B> </P>
<P>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="serif">(1) 	The undersigned registrant hereby undertakes to file, during any period in which offers or sales are being made, a post-effective amendment to this registration statement: </FONT>
</P>
<P align="center"> <FONT size=1 face="serif"> </FONT><FONT face="serif">II-2 </FONT>
</P>
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<p><A name="page_4"></A></p>
<blockquote>
  <blockquote>
    <p><FONT face="serif"> (a) to include any prospectus required by Section 10(a)(3)
      of the Securities</FONT> <FONT face="serif">Act of 1933; </FONT> </p>
    <p> <FONT face="serif">(b) to reflect in the prospectus any facts or events
      arising after the effective date of this registration statement (or the
      most recent post-effective amendment thereof) which, individually or in
      the aggregate, represent a fundamental change in the information set forth
      in this registration statement. Notwithstanding the foregoing, any increase
      or decrease in volume of securities offered (if the total dollar value of
      securities offered would not exceed that which was registered) and any deviation
      from the low or high end of the estimated maximum offering range may be
      reflected in the form of prospectus filed with the Commission pursuant to
      Rule 424(b) if, in the aggregate, the changes in volume and price represent
      no more than a 20% change in the maximum aggregate offering price set forth
      in the "Calculation of Registration Fee" table in the effective registration
      statement; and </FONT> </p>
    <p> <FONT face="serif">(c) to include any material information with respect
      to the plan of distribution not previously disclosed in the registration
      statement or any material change to such information in this registration
      statement; provided, however, that paragraphs 1(a) and 1(b) do not apply
      if the registration statement is on Form S-3, Form S-8 or Form F-3 and the
      information required to be included in a post-effective amendment by those
      paragraphs is contained in periodic reports filed with or furnished to the
      Securities and Exchange Commission by the registrant pursuant to Section
      13 or Section 15 (d) of the Securities Exchange Act of 1934 that are incorporated
      by reference in this registration statement. </FONT> </p>
  </blockquote>
</blockquote>
<P>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="serif">(2) 	The undersigned registrant hereby undertakes that, for the purpose of determining any liability under the Securities Act of 1933, each such post-effective amendment shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.</FONT>
</P>
<P>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="serif">(3) 	The undersigned registration hereby undertakes to remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the termination of the offering. </FONT>
</P>
<P>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="serif">(4) 	The undersigned registrant hereby undertakes that, for purposes of determining liability under the Securities Act of 1933, each filing of the registrant's annual report pursuant to Section 13(a) or Section 15(d) of the Securities Exchange Act of 1934 (and, where applicable, each filing of an employee benefit plan's annual report pursuant to Section 15(d) of the Securities Exchange Act of 1934) that is incorporated by reference in this registration statement shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.</FONT>
</P>
<P>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="serif">Insofar as indemnifications for liabilities arising under the Securities Act of 1933 may be permitted to directors, officers and controlling persons of the registrant pursuant to the provisions described under Item 6 above, or otherwise, the registrant has been advised that in the opinion of the Securities and Exchange Commission such indemnification is against public policy as expressed in the Securities Act of 1933 and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the registrant of expenses incurred or paid by a director, officer or controlling person of the registrant in the successful </FONT>
</P>
<P align="center"> <FONT size=1 face="serif"> </FONT><FONT face="serif">II-3 </FONT>
</P>
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<P>
<FONT face="serif">defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, the registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Securities Act of 1933 and will be governed by the final adjudication of such issue. </FONT>
</P>
<P align="center">
<FONT face="serif">II-4</FONT>
</P>
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<P align="center">
<B><FONT face="serif">SIGNATURES </FONT></B>
</P>
<P>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U><FONT face="serif">The Registrant</FONT></U><FONT face="serif">. Pursuant to the requirements of the Securities Act of 1933, the registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized in the City of Toronto, Province of Ontario, Canada (City of Boston, Commonwealth of Massachusetts, as to the U.S. representative) on this 8</FONT><SUP><FONT face="serif">th</FONT></SUP><FONT face="serif"> day of May, 2003. </FONT>
</P>
<P align="left"> <FONT face="serif">SUN LIFE FINANCIAL SERVICES OF CANADA INC.
  </FONT> <br>
  <FONT face="serif">(Registrant) </FONT> </P>
<P align="left"> <FONT face="serif">By: /s/ Donald A. Stewart <br>
  Donald A. Stewart <br>
  Chairman and Chief Executive Officer </FONT> </P>
<P align="left"> <FONT face="serif">SUN LIFE ASSURANCE COMPANY OF CANADA -- <br>
  U.S. OPERATIONS HOLDINGS, INC. </FONT> <br>
  <FONT face="serif">(U.S. representative) </FONT> </P>
<P align="left"> <FONT face="serif">By: /s/ Ellen B. King<br>
  Ellen B. King <br>
  Secretary</FONT> </P>
<P align="center">
<B><FONT face="serif">POWER OF ATTORNEY </FONT></B>
</P>
<P>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="serif">Each person whose signature appears below constitutes and appoints Joan M. Wilson his true and lawful attorney-in-fact and agent, with full power of substitution and resubstitution, for him and in his name, place and stead, and in any and all capacities, to sign any and all amendments to this registration statement, and to file the same, with all exhibits thereto, and other documents in connection therewith, with the Securities and Exchange Commission, state securities law administrators, and other governmental authorities, granting unto said attorney-in-fact and agent full power and authority to do and perform each and every act and thing requisite and necessary to be done in and about the premises, as fully and to all intents and purposes as he might or could do in person, hereby ratifying and confirming all that said attorney-in-fact and agent, or his substitute, may lawfully do or cause to be done by virtue thereof. </FONT>
</P>
<P align="center"> <FONT size=1 face="serif"> </FONT><FONT face="serif">II-5 </FONT>
</P>
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<P>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="serif">Pursuant to the requirements of the Securities Act of 1933, this registration statement has been signed by the following persons in the capacities and on the dates indicated. </FONT>
</P>
<TABLE width="100%" border=0 cellspacing=0 cellpadding=0>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="30%"><B><FONT face="serif">Signature</FONT></B></TD>
    <TD width="48%"><B><FONT face="serif">Title</FONT></B></TD>
    <TD width="17%"><B><FONT face="serif">Date</FONT></B></TD>
  </TR>
  <TR>
    <TD><HR noshade size=1></TD>
    <TD><HR noshade size=1></TD>
    <TD><HR noshade size=1></TD>
    <TD><HR noshade size=1></TD>
  </TR>
  <TR>
    <TD width="5%"><FONT face="serif">/s/</FONT></TD>
    <TD width="30%"><FONT face="serif">Donald A. Stewart</FONT></TD>
    <TD width="48%"><FONT face="serif">Chairman and Chief Executive</FONT></TD>
    <TD width="17%"><FONT face="serif">May 1, 2003</FONT></TD>
  </TR>
  <TR>
    <TD><HR noshade size=1></TD>
    <TD><HR noshade size=1></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
  </TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="30%"><FONT face="serif">(Donald A. Stewart)</FONT></TD>
    <TD width="48%"><FONT face="serif">Officer (principal executive</FONT></TD>
    <TD width="17%">&nbsp;</TD>
  </TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="30%">&nbsp;</TD>
    <TD width="48%"><FONT face="serif">officer)</FONT></TD>
    <TD width="17%">&nbsp;</TD>
  </TR>
  <TR>
    <TD width="5%"><FONT face="serif">/s/</FONT></TD>
    <TD width="30%"><FONT face="serif">Paul W. Derksen</FONT></TD>
    <TD width="48%"><FONT face="serif">Executive Vice President and</FONT></TD>
    <TD width="17%"><FONT face="serif">May 1, 2003</FONT></TD>
  </TR>
  <TR>
    <TD><HR noshade size=1></TD>
    <TD><HR noshade size=1></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
  </TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="30%"><FONT face="serif">(Paul W. Derksen)</FONT></TD>
    <TD width="48%"><FONT face="serif">Chief Financial Officer</FONT></TD>
    <TD width="17%">&nbsp;</TD>
  </TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="30%">&nbsp;</TD>
    <TD width="48%"><FONT face="serif">(principal financial officer)<br>
      <br>
      </FONT></TD>
    <TD width="17%">&nbsp;</TD>
  </TR>
  <TR>
    <TD width="5%"><FONT face="serif">/s/</FONT></TD>
    <TD width="30%"><FONT face="serif">Nigel I. Hodges</FONT></TD>
    <TD width="48%"><FONT face="serif">Vice President and Controller</FONT></TD>
    <TD width="17%"><FONT face="serif">May 1, 2003</FONT></TD>
  </TR>
  <TR>
    <TD><HR noshade size=1></TD>
    <TD><HR noshade size=1></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
  </TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="30%"><FONT face="serif"> (Nigel I. Hodges)<br>
      <br>
      </FONT></TD>
    <TD width="48%"><FONT face="serif">(principal accounting officer)<br>
      <br>
      </FONT></TD>
    <TD width="17%">&nbsp;</TD>
  </TR>
  <TR>
    <TD width="5%"><FONT face="serif">/s/</FONT></TD>
    <TD width="30%"><FONT face="serif">Robert M. Astley</FONT></TD>
    <TD width="48%"><FONT face="serif">Director</FONT></TD>
    <TD width="17%"><FONT face="serif">May 1, 2003</FONT></TD>
  </TR>
  <TR>
    <TD><HR noshade size=1></TD>
    <TD><HR noshade size=1></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
  </TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="30%"><FONT face="serif">(Robert M. Astley)</FONT></TD>
    <TD width="48%">&nbsp;</TD>
    <TD width="17%">&nbsp;</TD>
  </TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
  </TR>
  <TR>
    <TD width="5%"><FONT face="serif">/s/</FONT></TD>
    <TD width="30%"><FONT face="serif">James C. Baillie</FONT></TD>
    <TD width="48%"><FONT face="serif">Director</FONT></TD>
    <TD width="17%"><FONT face="serif">May 1, 2003</FONT></TD>
  </TR>
  <TR>
    <TD><HR noshade size=1></TD>
    <TD><HR noshade size=1></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
  </TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="30%"><FONT face="serif">(James C. Baillie)</FONT></TD>
    <TD width="48%">&nbsp;</TD>
    <TD width="17%">&nbsp;</TD>
  </TR>
  <TR>
    <TD width="5%"><FONT face="serif"><br>
      /s/</FONT></TD>
    <TD width="30%"><FONT face="serif"><br>
      William R. Fatt</FONT></TD>
    <TD width="48%"><FONT face="serif"><br>
      Director</FONT></TD>
    <TD width="17%"><FONT face="serif"><br>
      May 1, 2003</FONT></TD>
  </TR>
  <TR>
    <TD><HR noshade size=1></TD>
    <TD><HR noshade size=1></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
  </TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="30%"><FONT face="serif">(William R. Fatt)<br>
      <br>
      </FONT></TD>
    <TD width="48%">&nbsp;</TD>
    <TD width="17%">&nbsp;</TD>
  </TR>
  <TR>
    <TD width="5%"><FONT face="serif">/s/</FONT></TD>
    <TD width="30%"><FONT face="serif">David A. Ganong</FONT></TD>
    <TD width="48%"><FONT face="serif">Director</FONT></TD>
    <TD width="17%"><FONT face="serif">May 1, 2003</FONT></TD>
  </TR>
  <TR>
    <TD><HR noshade size=1></TD>
    <TD><HR noshade size=1></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
  </TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="30%"><FONT face="serif">(David A. Ganong)</FONT></TD>
    <TD width="48%">&nbsp;</TD>
    <TD width="17%">&nbsp;</TD>
  </TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
  </TR>
  <TR>
    <TD width="5%"><FONT face="serif">/s/</FONT></TD>
    <TD width="30%"><FONT face="serif">Germaine Gibara</FONT></TD>
    <TD width="48%"><FONT face="serif">Director</FONT></TD>
    <TD width="17%"><FONT face="serif">May 1, 2003</FONT></TD>
  </TR>
  <TR>
    <TD><HR noshade size=1></TD>
    <TD><HR noshade size=1></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
  </TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="30%"><FONT face="serif">(Germaine Gibara)</FONT></TD>
    <TD width="48%">&nbsp;</TD>
    <TD width="17%">&nbsp;</TD>
  </TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
  </TR>
  <TR>
    <TD height="43">/s/</TD>
    <TD><FONT face="serif">(Stanley H. Hartt) <br>
      </FONT></TD>
    <TD width="48%"><FONT face="serif">Director</FONT></TD>
    <TD width="17%"><FONT face="serif">May 1, 2003</FONT></TD>
  </TR>
  <TR>
    <TD colspan=2><HR noshade size=1></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
  </TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="30%"><FONT face="serif">(Stanley H. Hartt)<br>
      <br>
      </FONT></TD>
    <TD width="48%">&nbsp;</TD>
    <TD width="17%">&nbsp;</TD>
  </TR>
  <TR>
    <TD width="5%"><FONT face="serif">/s/</FONT></TD>
    <TD width="30%"><FONT face="serif">Krystyna T. Hoeg</FONT></TD>
    <TD width="48%"><FONT face="serif">Director</FONT></TD>
    <TD width="17%"><FONT face="serif">May 1, 2003</FONT></TD>
  </TR>
  <TR>
    <TD><HR noshade size=1></TD>
    <TD><HR noshade size=1></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
  </TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="30%"><FONT face="serif">(Krystyna T. Hoeg)<br>
      <br>
      </FONT></TD>
    <TD width="48%">&nbsp;</TD>
    <TD width="17%">&nbsp;</TD>
  </TR>
  <TR>
    <TD width="5%"><FONT face="serif">/s/</FONT></TD>
    <TD width="30%"><FONT face="serif">Idalene F. Kesner</FONT></TD>
    <TD width="48%"><FONT face="serif">Director</FONT></TD>
    <TD width="17%"><FONT face="serif">May 1, 2003</FONT></TD>
  </TR>
  <TR>
    <TD><HR noshade size=1></TD>
    <TD><HR noshade size=1></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
  </TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="30%"><FONT face="serif">(Idalene F. Kesner)</FONT></TD>
    <TD width="48%">&nbsp;</TD>
    <TD width="17%">&nbsp;</TD>
  </TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
  </TR>
  <TR>
    <TD width="5%"><FONT face="serif">/s/</FONT></TD>
    <TD width="30%"><FONT face="serif">John D. McNeil</FONT></TD>
    <TD width="48%"><FONT face="serif">Director</FONT></TD>
    <TD width="17%"><FONT face="serif">May 1, 2003</FONT></TD>
  </TR>
  <TR>
    <TD><HR noshade size=1></TD>
    <TD><HR noshade size=1></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
  </TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="30%"><FONT face="serif">(John D. McNeil)<br>
      <br>
      </FONT></TD>
    <TD width="48%">&nbsp;</TD>
    <TD width="17%">&nbsp;</TD>
  </TR>
  <TR>
    <TD width="5%"><FONT face="serif">/s/</FONT></TD>
    <TD width="30%"><FONT face="serif">Bertin F. Nadeau</FONT></TD>
    <TD width="48%"><FONT face="serif">Director</FONT></TD>
    <TD width="17%"><FONT face="serif">May 1, 2003</FONT></TD>
  </TR>
  <TR>
    <TD><HR noshade size=1></TD>
    <TD><HR noshade size=1></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
  </TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="30%"><FONT face="serif">(Bertin F. Nadeau)</FONT></TD>
    <TD width="48%">&nbsp;</TD>
    <TD width="17%">&nbsp;</TD>
  </TR>
</TABLE>
<P align="center">
<FONT face="serif">II-6</FONT>
</P>
<HR noshade align="center" width="100%" size=2>
<A name="page_8"></A>

<TABLE width="100%" border=0 cellspacing=0 cellpadding=0>
<TR>
   <TD width="7%">&nbsp;</TD>
   <TD width="50%"><B><FONT face="serif">Signature</FONT></B></TD>
   <TD width="18%"><B><FONT face="serif">Title</FONT></B></TD>
   <TD width="25%"><B><FONT face="serif">Date</FONT></B></TD>
</TR>
<TR>
   <TD><HR noshade size=1></TD>
   <TD><HR noshade size=1></TD>
   <TD><HR noshade size=1></TD>
   <TD><HR noshade size=1></TD>
</TR>
<TR>
   <TD width="7%"><FONT face="serif">/s/</FONT></TD>
   <TD width="50%"><FONT face="serif">Ronald W. Osborne</FONT></TD>
   <TD width="18%"><FONT face="serif">Director</FONT></TD>
   <TD width="25%"><FONT face="serif">May 1, 2003</FONT></TD>
</TR>
<TR>
   <TD><HR noshade size=1></TD>
   <TD><HR noshade size=1></TD>
   <TD>&nbsp;</TD>
   <TD>&nbsp;</TD>
</TR>
<TR>
   <TD width="7%">&nbsp;</TD>
    <TD width="50%"><FONT face="serif">(Ronald W. Osborne)<br>
      <br>
      </FONT></TD>
   <TD width="18%">&nbsp;</TD>
   <TD width="25%">&nbsp;</TD>
</TR>
<TR>
   <TD width="7%"><FONT face="serif">/s/</FONT></TD>
   <TD width="50%"><FONT face="serif">Madeleine M. Paquin</FONT></TD>
   <TD width="18%"><FONT face="serif">Director</FONT></TD>
   <TD width="25%"><FONT face="serif">May 1, 2003</FONT></TD>
</TR>
<TR>
   <TD><HR noshade size=1></TD>
   <TD><HR noshade size=1></TD>
   <TD>&nbsp;</TD>
   <TD>&nbsp;</TD>
</TR>
<TR>
   <TD width="7%">&nbsp;</TD>
    <TD width="50%"><FONT face="serif">(Madeleine M. Paquin)<br>
      <br>
      </FONT></TD>
   <TD width="18%">&nbsp;</TD>
   <TD width="25%">&nbsp;</TD>
</TR>
<TR>
   <TD width="7%"><FONT face="serif">/s/</FONT></TD>
   <TD width="50%"><FONT face="serif">C. James Prieur</FONT></TD>
   <TD width="18%"><FONT face="serif">Director</FONT></TD>
   <TD width="25%"><FONT face="serif">May 1, 2003</FONT></TD>
</TR>
<TR>
   <TD><HR noshade size=1></TD>
   <TD><HR noshade size=1></TD>
   <TD>&nbsp;</TD>
   <TD>&nbsp;</TD>
</TR>
<TR>
   <TD width="7%">&nbsp;</TD>
   <TD width="50%"><FONT face="serif">(C. James Prieur)</FONT></TD>
   <TD width="18%">&nbsp;</TD>
   <TD width="25%">&nbsp;</TD>
</TR>
<TR>
   <TD>&nbsp;</TD>
   <TD>&nbsp;</TD>
   <TD>&nbsp;</TD>
   <TD>&nbsp;</TD>
</TR>
<TR>
   <TD width="7%"><FONT face="serif">/s/</FONT></TD>
   <TD width="50%"><FONT face="serif">Robert P. Reid</FONT></TD>
   <TD width="18%"><FONT face="serif">Director</FONT></TD>
   <TD width="25%"><FONT face="serif">May 1, 2003</FONT></TD>
</TR>
<TR>
   <TD><HR noshade size=1></TD>
   <TD><HR noshade size=1></TD>
   <TD>&nbsp;</TD>
   <TD>&nbsp;</TD>
</TR>
<TR>
   <TD width="7%">&nbsp;</TD>
    <TD width="50%"><FONT face="serif">(Robert P. Reid)<br>
      <br>
      </FONT></TD>
   <TD width="18%">&nbsp;</TD>
   <TD width="25%">&nbsp;</TD>
</TR>
<TR>
   <TD width="7%"><FONT face="serif">/s/</FONT></TD>
   <TD width="50%"><FONT face="serif">William W. Stinson</FONT></TD>
   <TD width="18%"><FONT face="serif">Director</FONT></TD>
   <TD width="25%"><FONT face="serif">May 1, 2003</FONT></TD>
</TR>
<TR>
   <TD><HR noshade size=1></TD>
   <TD><HR noshade size=1></TD>
   <TD>&nbsp;</TD>
   <TD>&nbsp;</TD>
</TR>
<TR>
   <TD width="7%">&nbsp;</TD>
    <TD width="50%"><FONT face="serif">(William W. Stinson)<br>
      <br>
      </FONT></TD>
   <TD width="18%">&nbsp;</TD>
   <TD width="25%">&nbsp;</TD>
</TR>
<TR>
   <TD width="7%"><FONT face="serif">/s/</FONT></TD>
   <TD width="50%"><FONT face="serif">W. Vickery Stoughton</FONT></TD>
   <TD width="18%"><FONT face="serif">Director</FONT></TD>
   <TD width="25%"><FONT face="serif">May 1, 2003</FONT></TD>
</TR>
<TR>
   <TD><HR noshade size=1></TD>
   <TD><HR noshade size=1></TD>
   <TD>&nbsp;</TD>
   <TD>&nbsp;</TD>
</TR>
<TR>
   <TD width="7%">&nbsp;</TD>
    <TD width="50%"><FONT face="serif">(W. Vickery Stoughton)<br>
      <br>
      </FONT></TD>
   <TD width="18%">&nbsp;</TD>
   <TD width="25%">&nbsp;</TD>
</TR>
<TR>
   <TD width="7%"><FONT face="serif">/s/</FONT></TD>
   <TD width="50%"><FONT face="serif">David G. Vice</FONT></TD>
   <TD width="18%"><FONT face="serif">Director</FONT></TD>
   <TD width="25%"><FONT face="serif">May 1, 2003</FONT></TD>
</TR>
<TR>
   <TD><HR noshade size=1></TD>
   <TD><HR noshade size=1></TD>
   <TD>&nbsp;</TD>
   <TD>&nbsp;</TD>
</TR>
<TR>
   <TD width="7%">&nbsp;</TD>
   <TD width="50%"><FONT face="serif">(David G. Vice)</FONT></TD>
   <TD width="18%">&nbsp;</TD>
   <TD width="25%">&nbsp;</TD>
</TR>
</TABLE><P align="center">
<FONT face="serif">II-7</FONT>
</P>
<HR noshade align="center" width="100%" size=2>
<A name="page_9"></A>

<P> <B><FONT face="serif">Index to Exhibits</FONT></B></P>
<table width="100%" border="0">
  <tr>
    <td width="10%"><B><FONT face="serif">Exhibit</FONT></B> <br> <B><U><FONT face="serif">Number</FONT></U></B><B><FONT face="serif"></FONT></B></td>
    <td width="90%"><B><U><FONT face="serif"><br>
      Description</FONT></U></B></td>
  </tr>
  <tr>
    <td>4.1</td>
    <td><FONT face="serif">Letters Patent of Incorporation and Amending Letters
      Patent of Incorporation of Sun Life Financial Services of Canada Inc. (incorporated
      herein by reference to Exhibit (1)(a) to the Company's Registration Statement
      on Form 8-A, dated March 14, 2000).</FONT></td>
  </tr>
  <tr>
    <td>4.2</td>
    <td><FONT face="serif">Amended and Restated By-law No. 1 of Sun Life Financial
      Services of Canada Inc. and By-law No. 2 of Sun Life Financial Services
      of Canada Inc. (incorporated herein by reference Exhibit (1)(b) to the Company's
      Registration Statement on Form 8-A, dated March 14, 2000).</FONT></td>
  </tr>
  <tr>
    <td>5</td>
    <td><FONT face="serif">Opinion and Consent of Eric R. Weinheimer, Esq., Assistant
      Vice-President and Assistant General Counsel of Sun Life Assurance Company
      of Canada.</FONT></td>
  </tr>
  <tr>
    <td>23</td>
    <td><FONT face="serif">Consent of Deloitte &amp; Touche LLP, independent auditors.</FONT></td>
  </tr>
  <tr>
    <td>24</td>
    <td><FONT face="serif">Power of Attorney of Officers and Directors of Sun
      Life Financial Services of Canada Inc. (set forth on the signature pages
      of this registration statement). </FONT> </td>
  </tr>
</table>
<HR noshade align="center" width="100%" size=2>
<div align="right"><A name="page_10"></A> <br>
  Exhibit 5<br>
  <b><font size="2" face="sans-serif"><br>
  </font></b> <B><FONT size=2 face="sans-serif">Eric R. Weinheimer</FONT></B><br>
  <FONT size=2 face="sans-serif">Assistant Vice-President and <br>
  Assistant General Counsel </FONT> </div>
<P align="right"> <B><FONT size=2 face="sans-serif">Sun Life Assurance Company
  of Canada</FONT></B> <br>
  <FONT size=2 face="sans-serif">150 King Street West <br>
  Suite 1400 <br>
  Toronto, Ontario <br>
  M5H 1J9 </FONT> <br>
  <FONT size=2 face="sans-serif">Tel: (416) 979-4825 Fax: (416) 979-3209 <br>
  eric_weinheimer@sunlife.com <br>
  <br>
  Our Ref: 105266 </FONT> </P>
<P>
<FONT size=2 face="sans-serif">May 8, 2003 </FONT>
</P>
<P> <FONT face="serif">Sun Life Financial Services of Canada Inc. <br>
  150 King Street West, 14</FONT><SUP><FONT face="serif">th</FONT></SUP><FONT face="serif">
  Floor <br>
  Law Department <br>
  Toronto, Ontario <br>
  Canada <br>
  M5H 1J9 </FONT> </P>
<P align="justify"> <FONT face="serif"> I am Assistant Vice-President and Assistant
  General Counsel of Sun Life Assurance Company of Canada, a Canadian corporation
  and a wholly-owned subsidiary of Sun Life Financial Services of Canada Inc.
  I have acted as counsel for Sun Life Financial Services of Canada Inc. (the
  &#147;</FONT><B><FONT face="serif">Company</FONT></B><FONT face="serif">&#148;)
  in connection with the registration statement on Form S-8 (the &#147;</FONT><B><FONT face="serif">Registration
  Statement</FONT></B><FONT face="serif">&#148;), which the Company proposes to
  file on or shortly after the date hereof under the Securities Act of 1933, as
  amended (the</FONT><B><FONT face="serif"> </FONT></B><FONT face="serif">&#147;</FONT><B><FONT face="serif">Act</FONT></B><FONT face="serif">&#148;),
  relating to the issuance and sale by the Company of 5,000,000 of its common
  shares, without par value, (the &#147;</FONT><B><FONT face="serif">Shares</FONT></B><FONT face="serif">&#148;)
  pursuant to the Sun Life Financial Services of Canada Inc. Executive Stock Option
  Plan (the &#147;</FONT><B><FONT face="serif">Stock Option Plan</FONT></B><FONT face="serif">&#148;).</FONT>
</P>
<P align="justify"> <FONT face="serif"> As of the May 8, 2003, I owned 1,500 shares
  of the Company&#146;s common stock and 411.67 units of a trust established to
  acquire and hold common shares of the Company for employees pursuant to an employee
  stock purchase plan and I am acquiring additional trust units at regular intervals
  through that employee stock purchase plan. </FONT> </P>
<P align="justify"> <FONT face="serif"> For purposes of this opinion, I have examined
  originals or copies, certified or otherwise identified to my satisfaction of:
  </FONT> </P>
<div align="justify">
<TABLE>
    <TR>
      <TD valign="top" width="5%"><FONT face="serif">(i)</FONT><BR>
        &nbsp;&nbsp;</TD>
      <TD valign="top"><FONT face="serif">the Registration Statement;</FONT><BR></TD>
    </TR>
    <TR>
      <TD valign="top" width="5%"><FONT face="serif">(ii)</FONT><BR>
        &nbsp;&nbsp;</TD>
      <TD valign="top"><FONT face="serif">the Letters Patent of Incorporation
        and Amending Letters Patent of Incorporation and Amended and Restated
        By-law No. 1 of the Company;</FONT><BR> </TD>
    </TR>
  </TABLE>
</div>
<P align="justify">&nbsp; </P>
<HR noshade align="JUSTIFY" width="100%" size=2>
<div align="justify"><A name="page_2"></A> </div>
<P align="center"> <FONT face="serif">-</FONT>&nbsp;<FONT face="serif">2 - </FONT>
</P>
<P align="justify"> <FONT face="serif"> </FONT></P>
<table width="100%" border="0">
  <tr>
    <td width="5%"><FONT face="serif">(iii)</FONT></td>
    <td width="95%"><FONT face="serif">the resolutions of the Company &#145;s
      Board approving the Stock Option Plan and the resolutions of the Company&#146;s
      shareholders approving the Stock Option Plan;</FONT></td>
  </tr>
  <tr>
    <td><FONT face="serif">(iv)</FONT></td>
    <td><FONT face="serif">the Stock Option Plan; and</FONT></td>
  </tr>
  <tr>
    <td><FONT face="serif">(v)</FONT></td>
    <td><FONT face="serif">such other documents, certificates and records as I
      have deemed necessary or appropriate.</FONT></td>
  </tr>
</table>
<P align="justify">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="serif">In such examination
  I has assumed the genuineness of all signatures, the authenticity of all documents
  submitted to me as originals, the conformity to the original documents of all
  documents submitted to me as copies and the authenticity of the originals of
  such latter documents. As to any facts material to my opinion, I have, when
  relevant facts were not independently established, relied upon the aforesaid
  agreements, instrument&#146;s records certificates and documents. </FONT> </P>
<P align="justify"> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="serif">Based upon
  the foregoing, and subject to the qualifications herein expressed, I am of the
  opinion that the Shares will be validly issued, fully paid and non-assessable
  when the Shares shall have been issued, sold and delivered in accordance with
  the terms of the Stock Option Plan and the stock options granted thereunder.
  </FONT> </P>
<P align="justify"> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="serif">This opinion
  is limited to the laws of the Province of Ontario and the laws of Canada applicable
  thereto, in each case as in effect on the date hereof. </FONT> </P>
<P align="justify"> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="serif">I hereby
  consent to the filing of this opinion as an exhibit to the Registration Statement
  and the reference to me contained therein. </FONT> </P>
<P>
<FONT face="serif"> 	 	 	 	 	 	Yours very truly, </FONT>
</P>
<P><FONT face="serif">/s/</FONT> Eric Weinheimer</P>
<P><FONT face="serif">Eric Weinheimer </FONT> <br>
  <FONT face="serif">Assistant Vice-President and <br>
  Assistant General Counsel </FONT> </P>
<P>
<FONT size=2 face="serif">ERW:dj Enclosure </FONT>
</P>
<HR noshade align="center" width="100%" size=2>
<p align="right"> Exhibit 23</p>
<p> INDEPENDENT AUDITORS' CONSENT<br>
  <br>
  We consent to the incorporation by reference in this Registration Statement
  of Sun Life Financial Services of Canada Inc. on Form S-8 of our reports dated
  February 12, 2003, appearing in the Annual Report on Form 40-F/A of Sun Life
  Financial Services of Canada Inc. for the year ended December 31, 2002.</p>
<p>/s/ Deloitte &amp; Touche LLP <br>
  <br>
  Deloitte &amp; Touche LLP <br>
  Toronto, Canada</p>
<p>May 8, 2003</p>
</BODY>
[{"type": "S-8", "sequence": "1", "filename": "s8form.htm", "description": "FORM S-8", "secsgml_size_bytes": 43209}]
{"company-data": {"conformed-name": "SUN LIFE FINANCIAL SERVICES OF CANADA INC", "cik": "0001097362", "assigned-sic": "8880", "irs-number": "000000000", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "S-8", "act": "33", "file-number": "333-105130", "film-number": "03690556"}, "business-address": {"street1": "150 KING STREET WEST", "street2": "TORONTO ONTARIO", "city": "CANADA M5H 1J9", "state": "A6", "zip": "00000"}, "mail-address": {"street1": "SUN LIFE ASSURANCE CO OF CANADA", "street2": "150 KING STREET WEST SUITE 1400", "city": "TORONTO", "state": "A6"}}
s-8 form
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
______
FORM S-8
REGISTRATION STATEMENT
UNDER
THE SECURITIES ACT OF 1933
____________
SUN LIFE FINANCIAL SERVICES OF CANADA INC.
(Exact name of registrant as specified
  in its charter)
Ontario,
          Canada
(State or other jurisdiction of incorporation
          or organization)
Not Applicable
(I.R.S. Employer Identification No.)
150 King Street West, 6th Floor
Toronto, Ontario
Canada
M5H 1J9
(Address, including zip code, of registrant's principal
  executive offices)
_________________
SUN LIFE FINANCIAL SERVICES OF CANADA
  INC. EXECUTIVE STOCK OPTION PLAN
(Full title of the plans)
_________________
Ellen B. King, Secretary
Sun Life Assurance Company of Canada-U.S. Operations
  Holdings, Inc.
One Sun Life Executive Park
Wellesley Hills, MA 02481
(781) 237-6030
(Name, address, including zip code, and telephone
  number, including area code, of agent for service in the United States)
_________________
Copies to:
Eric R. Weinheimer,
          Esq.
Sun Life Financial Services of Canada Inc.
150 King Street West
Toronto, Ontario
Canada M5H 1J9
(416) 979-4825
Elizabeth W. Powers,
          Esq.
LeBoeuf, Lamb, Greene & MacRae, L.L.P.
125 West 55
th
Street
New York, NY 10019
(212) 424-8000
_________________
CALCULATION OF REGISTRATION FEE
Title of securities to be
        registered
Amount to be registered
        (1)
Proposed maximum offering
        price per share
Proposed maximum aggregate
        offering price
Amount of registration fee
Common Shares, without par
        value
5,000,000
$19.975 (2)
$99,875,000 (2)
$ 8,079.89
(1)
Pursuant to Rule 416 under the Securities
      Act of 1933, the number of common shares registered hereby is subject to
      adjustment to prevent dilution by reason of any stock dividend, stock split,
      recapitalization or other similar transaction that results in an increase
      in the number of the outstanding common shares of Sun Life Financial Services
      of Canada Inc.
(2)
Calculated in accordance with Rule 457(h) under the Securities Act of 1933 based on the average of the high and low sales prices per common share of Sun Life Financial Services of Canada Inc. on May 5, 2003, as reported in the consolidated reporting system.
PART II
INFORMATION REQUIRED IN THE REGISTRATION
  STATEMENT
Item 3. Incorporation of Documents by Reference.
We hereby incorporate by reference into this registration statement the following documents that we have previously filed with the Securities and Exchange Commission:
Annual Report on Form 40-F for the year ended
    December 31, 2002 filed on February 14, 2003, as amended by a Form 40-F/A
    filed on February 18, 2003.
Reports on Form 6-K filed on February 4, 2003,
    February 14, 2003, February 20, 2003, March 14, 2003, April 29, 2003, May
    1, 2003 and May 2, 2003.
The description of the common shares of Sun Life
    Financial Services of Canada Inc. (the "
Company
")
    contained in the Company's registration statement on Form 8-A, dated March
    14, 2000, filed pursuant to Section 12 of the Securities Exchange Act of 1934,
    as amended, and any amendments thereto.
All documents that we file pursuant to Section 13(a), Section 13(c), 14 and 15 (d) of the Securities Exchange Act of 1934 after the date of this registration statement and prior to the filing of a post-effective amendment which indicates that all securities offered hereby have been sold or which deregisters all securities then remaining unsold, shall be deemed to be incorporated by reference into this registration statement and to be a part hereof from the date of filing of such documents. Any statement contained in a document incorporated or deemed to be incorporated by reference herein shall be deemed to be modified or superseded for purposes of this registration statement to the extent that a statement contained herein or in any subsequently filed document which also is deemed to be incorporated by reference herein modifies or supersedes such statement. Any such statement so modified or superseded shall not be deemed, except as so modified or superseded, to constitute a part of this registration statement.
Item 5. Interests of Named Experts and Counsel.
Eric R. Weinheimer, Esq., Assistant Vice-President and Assistant General Counsel of Sun Life Assurance Company of Canada, a wholly-owned subsidiary of the Company, has given his opinion on the validity of the common shares offered pursuant to this registration statement. As of May 8, 2003, Mr. Weinheimer owned 1,500 shares of the Company's common stock and 411.67 units of a trust established to acquire and hold common shares of the Company for employees pursuant to an employee stock purchase plan and he is acquiring additional trust units at regular intervals through that employee stock purchase plan.
Item 6. Indemnification of Directors and Officers.
Subject to any limitations contained in the Insurance Companies Act (Canada), S.C. 1991, c.47, as amended, the by-laws of the Company permit the Company to indemnify a director or an officer, a former director or officer or any person who acts or acted at the Company's request as a director or officer of any entity of which the Company is or was a
II-1
shareholder or creditor, and each such person's heirs and personal representatives, against all costs, charges and expenses, including an amount paid to settle an action or satisfy a judgment reasonably incurred by such person in respect of any civil, criminal or administrative action or proceeding to which such person is made a party by reason of being or having been a director or officer of the Company or such entity, if (a) such person acted honestly and in good faith with a view to the best interests of the Company, and (b) in the case of a criminal or administrative action or proceeding enforced by a monetary penalty, such person had reasonable grounds for believing that the impugned conduct was lawful. The Company may enter into agreements evidencing its indemnity in favor of the foregoing persons to the full extent permitted by law.
The Company has entered into indemnification agreements with a number of its officers and directors under which the Company has agreed to indemnify them against costs, charges, fines and expenses, including amounts paid to settle an action or satisfy a judgment, reasonably incurred by an officer or director in respect of any civil, criminal or administrative action or proceeding to which such person is made a party by reason of being or having been a director or officer of the Company, subject to any limitations contained in the Insurance Companies Act (Canada), S.C. 1991, c.47, as amended. The Company also has entered into similar agreements with individuals who serve at the written request of the Company as a director, officer, employee, trustee, agent or fiduciary of another entity.
Item 8. Exhibits
Exhibit
Number
Description
4.1
Letters Patent of Incorporation and Amending Letters
      Patent of Incorporation of Sun Life Financial Services of Canada Inc. (incorporated
      herein by reference to Exhibit (1)(a) to the Company's Registration
      Statement on Form 8-A, dated March 14, 2000).
4.2
Amended and Restated By-law No. 1 of Sun Life Financial
      Services of Canada Inc. and By-law No. 2 of Sun Life Financial Services
      of Canada Inc.(incorporated herein by reference to Exhibit (1)(b) to the
      Company's Registration Statement on Form 8-A, dated March 14, 2000).
5
Opinion and Consent of Eric R. Weinheimer, Esq., Assistant
      Vice-President and Assistant General Counsel of Sun Life Assurance Company
      of Canada
23
Consent of Deloitte & Touche LLP, independent auditors.
24
Power of Attorney of Officers and Directors of Sun
      Life Financial Services of Canada Inc. (set forth on the signature page
      of this registration statement).
Item 9. Undertakings.
(1) 	The undersigned registrant hereby undertakes to file, during any period in which offers or sales are being made, a post-effective amendment to this registration statement:
II-2
(a) to include any prospectus required by Section 10(a)(3)
      of the Securities
Act of 1933;
(b) to reflect in the prospectus any facts or events
      arising after the effective date of this registration statement (or the
      most recent post-effective amendment thereof) which, individually or in
      the aggregate, represent a fundamental change in the information set forth
      in this registration statement. Notwithstanding the foregoing, any increase
      or decrease in volume of securities offered (if the total dollar value of
      securities offered would not exceed that which was registered) and any deviation
      from the low or high end of the estimated maximum offering range may be
      reflected in the form of prospectus filed with the Commission pursuant to
      Rule 424(b) if, in the aggregate, the changes in volume and price represent
      no more than a 20% change in the maximum aggregate offering price set forth
      in the "Calculation of Registration Fee" table in the effective registration
      statement; and
(c) to include any material information with respect
      to the plan of distribution not previously disclosed in the registration
      statement or any material change to such information in this registration
      statement; provided, however, that paragraphs 1(a) and 1(b) do not apply
      if the registration statement is on Form S-3, Form S-8 or Form F-3 and the
      information required to be included in a post-effective amendment by those
      paragraphs is contained in periodic reports filed with or furnished to the
      Securities and Exchange Commission by the registrant pursuant to Section
      13 or Section 15 (d) of the Securities Exchange Act of 1934 that are incorporated
      by reference in this registration statement.
(2) 	The undersigned registrant hereby undertakes that, for the purpose of determining any liability under the Securities Act of 1933, each such post-effective amendment shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.
(3) 	The undersigned registration hereby undertakes to remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the termination of the offering.
(4) 	The undersigned registrant hereby undertakes that, for purposes of determining liability under the Securities Act of 1933, each filing of the registrant's annual report pursuant to Section 13(a) or Section 15(d) of the Securities Exchange Act of 1934 (and, where applicable, each filing of an employee benefit plan's annual report pursuant to Section 15(d) of the Securities Exchange Act of 1934) that is incorporated by reference in this registration statement shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.
Insofar as indemnifications for liabilities arising under the Securities Act of 1933 may be permitted to directors, officers and controlling persons of the registrant pursuant to the provisions described under Item 6 above, or otherwise, the registrant has been advised that in the opinion of the Securities and Exchange Commission such indemnification is against public policy as expressed in the Securities Act of 1933 and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the registrant of expenses incurred or paid by a director, officer or controlling person of the registrant in the successful
II-3
defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, the registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Securities Act of 1933 and will be governed by the final adjudication of such issue.
II-4
SIGNATURES
The Registrant
. Pursuant to the requirements of the Securities Act of 1933, the registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized in the City of Toronto, Province of Ontario, Canada (City of Boston, Commonwealth of Massachusetts, as to the U.S. representative) on this 8
th
day of May, 2003.
SUN LIFE FINANCIAL SERVICES OF CANADA INC.
(Registrant)
By: /s/ Donald A. Stewart
Donald A. Stewart
Chairman and Chief Executive Officer
SUN LIFE ASSURANCE COMPANY OF CANADA --
U.S. OPERATIONS HOLDINGS, INC.
(U.S. representative)
By: /s/ Ellen B. King
Ellen B. King
Secretary
POWER OF ATTORNEY
Each person whose signature appears below constitutes and appoints Joan M. Wilson his true and lawful attorney-in-fact and agent, with full power of substitution and resubstitution, for him and in his name, place and stead, and in any and all capacities, to sign any and all amendments to this registration statement, and to file the same, with all exhibits thereto, and other documents in connection therewith, with the Securities and Exchange Commission, state securities law administrators, and other governmental authorities, granting unto said attorney-in-fact and agent full power and authority to do and perform each and every act and thing requisite and necessary to be done in and about the premises, as fully and to all intents and purposes as he might or could do in person, hereby ratifying and confirming all that said attorney-in-fact and agent, or his substitute, may lawfully do or cause to be done by virtue thereof.
II-5
Pursuant to the requirements of the Securities Act of 1933, this registration statement has been signed by the following persons in the capacities and on the dates indicated.
Signature
Title
Date
/s/
Donald A. Stewart
Chairman and Chief Executive
May 1, 2003
(Donald A. Stewart)
Officer (principal executive
officer)
/s/
Paul W. Derksen
Executive Vice President and
May 1, 2003
(Paul W. Derksen)
Chief Financial Officer
(principal financial officer)
/s/
Nigel I. Hodges
Vice President and Controller
May 1, 2003
(Nigel I. Hodges)
(principal accounting officer)
/s/
Robert M. Astley
Director
May 1, 2003
(Robert M. Astley)
/s/
James C. Baillie
Director
May 1, 2003
(James C. Baillie)
/s/
William R. Fatt
Director
May 1, 2003
(William R. Fatt)
/s/
David A. Ganong
Director
May 1, 2003
(David A. Ganong)
/s/
Germaine Gibara
Director
May 1, 2003
(Germaine Gibara)
/s/
(Stanley H. Hartt)
Director
May 1, 2003
(Stanley H. Hartt)
/s/
Krystyna T. Hoeg
Director
May 1, 2003
(Krystyna T. Hoeg)
/s/
Idalene F. Kesner
Director
May 1, 2003
(Idalene F. Kesner)
/s/
John D. McNeil
Director
May 1, 2003
(John D. McNeil)
/s/
Bertin F. Nadeau
Director
May 1, 2003
(Bertin F. Nadeau)
II-6
Signature
Title
Date
/s/
Ronald W. Osborne
Director
May 1, 2003
(Ronald W. Osborne)
/s/
Madeleine M. Paquin
Director
May 1, 2003
(Madeleine M. Paquin)
/s/
C. James Prieur
Director
May 1, 2003
(C. James Prieur)
/s/
Robert P. Reid
Director
May 1, 2003
(Robert P. Reid)
/s/
William W. Stinson
Director
May 1, 2003
(William W. Stinson)
/s/
W. Vickery Stoughton
Director
May 1, 2003
(W. Vickery Stoughton)
/s/
David G. Vice
Director
May 1, 2003
(David G. Vice)
II-7
Index to Exhibits
Exhibit
Number
Description
4.1
Letters Patent of Incorporation and Amending Letters
      Patent of Incorporation of Sun Life Financial Services of Canada Inc. (incorporated
      herein by reference to Exhibit (1)(a) to the Company's Registration Statement
      on Form 8-A, dated March 14, 2000).
4.2
Amended and Restated By-law No. 1 of Sun Life Financial
      Services of Canada Inc. and By-law No. 2 of Sun Life Financial Services
      of Canada Inc. (incorporated herein by reference Exhibit (1)(b) to the Company's
      Registration Statement on Form 8-A, dated March 14, 2000).
5
Opinion and Consent of Eric R. Weinheimer, Esq., Assistant
      Vice-President and Assistant General Counsel of Sun Life Assurance Company
      of Canada.
23
Consent of Deloitte & Touche LLP, independent auditors.
24
Power of Attorney of Officers and Directors of Sun
      Life Financial Services of Canada Inc. (set forth on the signature pages
      of this registration statement).
Exhibit 5
Eric R. Weinheimer
Assistant Vice-President and
Assistant General Counsel
Sun Life Assurance Company
  of Canada
150 King Street West
Suite 1400
Toronto, Ontario
M5H 1J9
Tel: (416) 979-4825 Fax: (416) 979-3209
eric_weinheimer@sunlife.com
Our Ref: 105266
May 8, 2003
Sun Life Financial Services of Canada Inc.
150 King Street West, 14
th
Floor
Law Department
Toronto, Ontario
Canada
M5H 1J9
I am Assistant Vice-President and Assistant
  General Counsel of Sun Life Assurance Company of Canada, a Canadian corporation
  and a wholly-owned subsidiary of Sun Life Financial Services of Canada Inc.
  I have acted as counsel for Sun Life Financial Services of Canada Inc. (the
  "
Company
")
  in connection with the registration statement on Form S-8 (the "
Registration
  Statement
"), which the Company proposes to
  file on or shortly after the date hereof under the Securities Act of 1933, as
  amended (the
"
Act
"),
  relating to the issuance and sale by the Company of 5,000,000 of its common
  shares, without par value, (the "
Shares
")
  pursuant to the Sun Life Financial Services of Canada Inc. Executive Stock Option
  Plan (the "
Stock Option Plan
").
As of the May 8, 2003, I owned 1,500 shares
  of the Company's common stock and 411.67 units of a trust established to
  acquire and hold common shares of the Company for employees pursuant to an employee
  stock purchase plan and I am acquiring additional trust units at regular intervals
  through that employee stock purchase plan.
For purposes of this opinion, I have examined
  originals or copies, certified or otherwise identified to my satisfaction of:
(i)
the Registration Statement;
(ii)
the Letters Patent of Incorporation
        and Amending Letters Patent of Incorporation and Amended and Restated
        By-law No. 1 of the Company;
-
2 -
(iii)
the resolutions of the Company 's
      Board approving the Stock Option Plan and the resolutions of the Company's
      shareholders approving the Stock Option Plan;
(iv)
the Stock Option Plan; and
(v)
such other documents, certificates and records as I
      have deemed necessary or appropriate.
In such examination
  I has assumed the genuineness of all signatures, the authenticity of all documents
  submitted to me as originals, the conformity to the original documents of all
  documents submitted to me as copies and the authenticity of the originals of
  such latter documents. As to any facts material to my opinion, I have, when
  relevant facts were not independently established, relied upon the aforesaid
  agreements, instrument's records certificates and documents.
Based upon
  the foregoing, and subject to the qualifications herein expressed, I am of the
  opinion that the Shares will be validly issued, fully paid and non-assessable
  when the Shares shall have been issued, sold and delivered in accordance with
  the terms of the Stock Option Plan and the stock options granted thereunder.
This opinion
  is limited to the laws of the Province of Ontario and the laws of Canada applicable
  thereto, in each case as in effect on the date hereof.
I hereby
  consent to the filing of this opinion as an exhibit to the Registration Statement
  and the reference to me contained therein.
Yours very truly,
/s/
Eric Weinheimer
Eric Weinheimer
Assistant Vice-President and
Assistant General Counsel
ERW:dj Enclosure
Exhibit 23
INDEPENDENT AUDITORS' CONSENT
We consent to the incorporation by reference in this Registration Statement
  of Sun Life Financial Services of Canada Inc. on Form S-8 of our reports dated
  February 12, 2003, appearing in the Annual Report on Form 40-F/A of Sun Life
  Financial Services of Canada Inc. for the year ended December 31, 2002.
/s/ Deloitte & Touche LLP
Deloitte & Touche LLP
Toronto, Canada
May 8, 2003