Term
20/5 Renewable and Convertible
Original line of business: Zurich
Updated on: Dec 12, 2018
Product snapshot
The 20/5 R&C products were term policies with level premiums for the first term period (20 years) and then renewable premiums at the end of each subsequent 5-year period. These plans were convertible.
Basic product information
Product administration guide: N/A
Sample contract: N/A
Dividend options: N/A
Bonus: N/A
Dividend options
N/A
Bonus
N/A
Premium paying period
Premiums were level for the first term period (20 years) and then renewable at the end of each 5-year period afterwards. Renewal premiums were guaranteed at issue
Policy fees
$20.00/annually
Deposit load
N/A
Values, loans & withdrawals
Non forfeiture option: Yes
Loans: N/A
Withdrawals: N/A
Non-forfeiture option
31-day grace period
Loans
N/A
Withdrawals
N/A
Cash value
No cash values
Reduced paid up
N/A
Riders & benefits
Premium offset/holiday: N/A
Premium offset/holiday
N/A
Death benefit
Basic coverage only. Policy expires at age 75
Reinstatement period
2 years
Convertible
Convertible to age 65 or 70 - please check policy contract