Whole Life

20 Pay Whole Life

Original line of business: North American Life

Updated on: Dec 12, 2018

Product snapshot

The 20 Pay Whole Life Plan is a participating, whole life plan, with level premiums payable for 20 years or to age 65 depending on age of issue.

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

  • For issue ages 0 - 45 premiums are payable to age 65 
  • For issue ages 46 - 65 premiums are payable for 20 years 

Policy fees

Varies by version

Deposit load

N/A

Values, loans & withdrawals

Non forfeiture option: Yes

Loans: Yes

Withdrawals: N/A 

Non-forfeiture option

Automatic premium loan (APL)

Loans

Are available 

Withdrawals

N/A

Cash value

Cash values are fully guaranteed

Reduced paid up

  • If the policy was issued prior to Dec. 1, 1982 then they can go reduced paid up anytime 
  • If the policy was issued after Dec. 2, 1982 then they can go reduced paid up at the end of the 20th policy year

Riders & benefits

Premium offset/holiday: N/A

Premium offset/holiday

N/A

Death benefit

N/A

Reinstatement period

N/A

Convertible

Not applicable in a permanent policy