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