Whole Life

Adjustable Premium Whole Life

Original line of business:  Monarch Life

Updated on: Dec 12, 2018

Product snapshot

The Adjustable Premium Whole Life Plan is a non-participating, whole life plan. Premiums are payable for life, however, these can be adjusted and are only guaranteed in 5 year increments.

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 are payable for life, but are only guaranteed for 5 years at a time 
  • Premiums are level unless the company’s experience changes, based on interest rates, mortality and expenses
  • The new premium can be higher or lower than the current premium 

Policy fees

Varies by policy version

Deposit load

N/A

Values, loans & withdrawals

Non forfeiture option: N/A

Loans: Yes

Withdrawals: N/A

Non-forfeiture option

N/A 

Loans

Available 

Withdrawals

N/A

Cash value

Cash values are fully guaranteed

Reduced paid up

  • Are guaranteed in the policy contract
  • If the policy was issued prior to Dec. 2, 1982 then RPU is available anytime
  • If the policy was issued after Dec. 1, 1982 then RPU is available at the end of the 20th policy year
  • All riders terminate if RPU is elected

Riders & benefits

Premium offset/holiday: N/A

Premium offset/holiday

N/A

Death benefit

N/A

Reinstatement period

The reinstatement period is 3 years

Convertible

N/A