-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
 MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 GNc8cZma28zGreNS/b/oM+1piuTpLCMoBjW9XbioJxyzC21mEVkI181gmv5gbkPN
 9yt92mud62EvU/0et/wJVA==

<SEC-DOCUMENT>0001238963-10-000002.txt : 20100121
<SEC-HEADER>0001238963-10-000002.hdr.sgml : 20100121
<ACCEPTANCE-DATETIME>20100121102257
ACCESSION NUMBER:		0001238963-10-000002
CONFORMED SUBMISSION TYPE:	D/A
PUBLIC DOCUMENT COUNT:		1
ITEM INFORMATION:		Rule 506
FILED AS OF DATE:		20100121
DATE AS OF CHANGE:		20100121
EFFECTIVENESS DATE:		20100121

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			KEYPORT LIFE INSURANCE CO VARIABLE ACCOUNT P
		CENTRAL INDEX KEY:			0001238963
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			RI
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		D/A
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	021-55821
		FILM NUMBER:		10537875

	BUSINESS ADDRESS:	
		STREET 1:		ONE SUN LIFE EXECUTIVE PARK
		CITY:			WELLESLEY HILLS
		STATE:			MA
		ZIP:			02481
		BUSINESS PHONE:		7814461844

	MAIL ADDRESS:	
		STREET 1:		ONE SUN LIFE EXECUTIVE PARK SC 2335
		CITY:			WELLESLEY HILLS
		STATE:			MA
		ZIP:			02481
</SEC-HEADER>
<DOCUMENT>
<TYPE>D/A
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<edgarSubmission>

    <schemaVersion>X0603</schemaVersion>

    <submissionType>D/A</submissionType>

    <testOrLive>LIVE</testOrLive>

    <primaryIssuer>
        <cik>0001238963</cik>
        <entityName>KEYPORT LIFE INSURANCE CO VARIABLE ACCOUNT P</entityName>
        <issuerAddress>
            <street1>ONE SUN LIFE EXECUTIVE PARK</street1>
            <city>WELLESLEY HILLS</city>
            <stateOrCountry>MA</stateOrCountry>
            <zipCode>02481</zipCode>
        </issuerAddress>
        <issuerPhoneNumber>7814461844</issuerPhoneNumber>
        <jurisdictionOfInc>RHODE ISLAND</jurisdictionOfInc>
        <issuerPreviousNameList>
            <value>None</value>
        </issuerPreviousNameList>
        <edgarPreviousNameList>
            <value>None</value>
        </edgarPreviousNameList>
        <entityType>Other</entityType>
        <entityTypeOtherDesc>Insurance Company Separate Account</entityTypeOtherDesc>
        <yearOfInc>
            <overFiveYears>true</overFiveYears>
        </yearOfInc>
    </primaryIssuer>

    <relatedPersonsList>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Sun</firstName>
                <lastName>Life Assurance Company of Canada (U.S.)</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>One Sun Life Executive Park</street1>
                <city>Wellesley Hills</city>
                <stateOrCountry>MA</stateOrCountry>
                <zipCode>02481</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Promoter</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Sun Life Assurance Company of Canada (U.S.)</relationshipClarification>
        </relatedPersonInfo>
    </relatedPersonsList>

    <offeringData>
        <industryGroup>
            <industryGroupType>Other</industryGroupType>
        </industryGroup>
        <issuerSize>
            <revenueRange>Over $100,000,000</revenueRange>
        </issuerSize>
        <federalExemptionsExclusions>
            <item>06</item>
        </federalExemptionsExclusions>
        <typeOfFiling>
            <newOrAmendment>
                <isAmendment>true</isAmendment>
                <previousAccessionNumber>9999999997-09-013362</previousAccessionNumber>
            </newOrAmendment>
            <dateOfFirstSale>
                <value>2001-06-27</value>
            </dateOfFirstSale>
        </typeOfFiling>
        <durationOfOffering>
            <moreThanOneYear>true</moreThanOneYear>
        </durationOfOffering>
        <typesOfSecuritiesOffered>
            <isOtherType>true</isOtherType>
            <descriptionOfOtherType>Flexible Premium Variable Universal Life Insurance and Variable Annuity</descriptionOfOtherType>
        </typesOfSecuritiesOffered>
        <businessCombinationTransaction>
            <isBusinessCombinationTransaction>false</isBusinessCombinationTransaction>
            <clarificationOfResponse></clarificationOfResponse>
        </businessCombinationTransaction>
        <minimumInvestmentAccepted>250000</minimumInvestmentAccepted>
        <salesCompensationList>
            <recipient>
                <recipientName>Clarendon Insurance Agency</recipientName>
                <recipientCRDNumber>7395</recipientCRDNumber>
                <associatedBDName>None</associatedBDName>
                <associatedBDCRDNumber>None</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>One Sun Life Executive Park</street1>
                    <city>Wellesley Hills</city>
                    <stateOrCountry>MA</stateOrCountry>
                    <zipCode>02481</zipCode>
                </recipientAddress>
                <statesOfSolicitationList>
                    <value>All States</value>
                </statesOfSolicitationList>
            </recipient>
        </salesCompensationList>
        <offeringSalesAmounts>
            <totalOfferingAmount>Indefinite</totalOfferingAmount>
            <totalAmountSold>513000000</totalAmountSold>
            <totalRemaining>Indefinite</totalRemaining>
            <clarificationOfResponse></clarificationOfResponse>
        </offeringSalesAmounts>
        <investors>
            <hasNonAccreditedInvestors>false</hasNonAccreditedInvestors>
            <totalNumberAlreadyInvested>187</totalNumberAlreadyInvested>
        </investors>
        <salesCommissionsFindersFees>
            <salesCommissions>
                <dollarAmount>0</dollarAmount>
            </salesCommissions>
            <findersFees>
                <dollarAmount>0</dollarAmount>
            </findersFees>
            <clarificationOfResponse></clarificationOfResponse>
        </salesCommissionsFindersFees>
        <useOfProceeds>
            <grossProceedsUsed>
                <dollarAmount>0</dollarAmount>
            </grossProceedsUsed>
            <clarificationOfResponse></clarificationOfResponse>
        </useOfProceeds>
        <signatureBlock>
            <authorizedRepresentative>false</authorizedRepresentative>
            <signature>
                <issuerName>KEYPORT LIFE INSURANCE CO VARIABLE ACCOUNT P</issuerName>
                <signatureName>/s/ Daniel T. Smyth</signatureName>
                <nameOfSigner>Daniel T. Smyth</nameOfSigner>
                <signatureTitle>Operations Director</signatureTitle>
                <signatureDate>2010-01-21</signatureDate>
            </signature>
        </signatureBlock>
    </offeringData>
</edgarSubmission>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----