Term

FlexTerm 5   

Original line of business: Royal Sun Alliance

Updated on: Dec 13, 2018

Product snapshot

The Flex Term 5 plan is a renewable and convertible plan with level coverage for the guarantee period selected at issue. Available as a policy or a rider. Policy expires at age 70.

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 

  • Policies issued prior to May 1996 may not have guaranteed rates at renewal
  • Every 5 years premiums will increase based on insured's attained age 

Policy fees 

  • Flexterm 5 - $40
  • Flexterm rider - no policy fee 

Deposit load

N/A

Values, loans & withdrawals

Non forfeiture option: N/A

Loans: N/A

Withdrawals: N/A

Non-forfeiture option

N/A

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

Reinstatement period

The policy may be reinstated at any time within three years after the date of lapse subject to underwriting approval from additional medical evidence along with any and all outstanding premiums

Convertible

Policy can be converted to a permanent plan prior to age 65