Universal Life

Intrepid 93

Original line of business: Maritime Life

Updated on: Dec 19, 2018

Product snapshot

The Intrepid Plan is a level cost of insurance universal life plan offering flexible premium payment and death benefit options. Many versions of this plan were issued throughout the years.

Basic product information

Dividend options: N/A

Bonus: Yes


Dividend options



Capital bonus: Starting in policy year 11, a bonus is credited when annual income option rate (linked to 3-5 year GOC bonds) is above 6.0%

Premium paying period

Cost of insurance (COI) ceases at age 95

Policy fees


Deposit load

Premium tax deducted from all deposits, based on the province of residence of the policy owner. Also a 5% load

Values, loans & withdrawals

Non forfeiture option: Yes

Loans: Yes

Withdrawals: Yes

Non-forfeiture option

Extended coverage (premium holiday) until policy value depleted, then 30 days grace


  • Minimum loan is $100.00
  • Maximum loan is 85% of the policy value in the income option             


  • Minimum withdrawal is $100.00
  • An MVA may apply to amounts withdrawn from a GIA

Cash value

Policy may have accumulated value, although this is not guaranteed

Reduced paid up


Riders & benefits

Premium offset/holiday: Yes

Premium offset/holiday

Payments can cease if there is enough value to cover policy costs

Death benefit 

  • Level
  • Coverage plus
  • Increasing coverage
  • Increasing coverage with coverage plus


Reinstatement period

2 years