Term

Acadia Term 100

Original line of business: Sun Alliance Insurance

Updated on: Dec 21, 2018

Product snapshot

The Acadia Term 100 policy is a term product with differing premium schedules depending on version issued.

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

Standard plans:

  • Fixed level premium - the level premium is guaranteed throughout. Paid-up values are not provided
  • Fixed level premium with paid-up values - the level premium is guaranteed throughout and the paid-up values are guaranteed in the policy
  • Adjustable premium - the premium will be adjusted (up or down) at the end of each five year period. Paid-up values are not provided
  • Adjustable premium with paid-up values - the premium will be adjusted (up or down) at the end of each five year period. A scale of minimum paid-up values is guaranteed in the policy, but higher values will be quoted if conditions permit

Limited payment plans:

Fixed level premium plans with paid-up values are available on limited payment basis:

  • 20 payment Acadia 100 - the level premium is guaranteed and payable for 20 years. Paid-up values are guaranteed in the policy
  • Acadia 100 paid-up at age 65 - the level premium is guaranteed and payable to age 65. Paid-up values are guaranteed in the policy

Policy fees

N/A

Deposit load

N/A

Values, loans & withdrawals

Non forfeiture option: Yes

Loans: N/A

Withdrawals: N/A

Non-forfeiture option

After an Acadia 100 policy has acquired a paid-up value, it will automatically be converted to a paid-up policy for a reduced sum insured if the premium is not paid within the days of grace

Loans

N/A

Withdrawals

N/A

Cash value

No cash values   

Reduced paid up

  • Under fixed and adjustable standard plans with paid-up values, the values will be available only at the earlier of the 10th policy year and at age 65 (68 for females), except that values are never available prior to the 3rd policy year
  • Under 20 payment Acadia 100 plans, paid-up values are available after 5 years
  • Under Acadia 100 paid-up at age 65 plans, paid-up values are available after 10 years, earlier for ages 36 and older
  • Under the fixed premium plans, a fully guaranteed scale of values is quoted in the policy

Under the adjustable premium plans, a guaranteed minimum scale of values is quoted in the policy. However, if conditions permit, the company may quote a higher paid-up value

Riders & benefits

Premium offset/holiday: N/A

Premium offset/holiday

N/A

Death benefit

  • Basic coverage only  
  • Options at age 100 if the insured survives to age 100, the owner may elect to endow the policy for the full face amount                           

Reinstatement period

You may apply to reinstate your policy at any time within two years after the start of the grace period

Convertible

N/A