Whole Life

LifeWise 65-Pay

Original line of business: Zurich

Updated on: Dec 14, 2018

The LifeWise product was originally sold by Zurich Life, and Manulife continued to sell a new version

Product snapshot

The LifeWise product was originally sold by Zurich Life, and Manulife continued to sell a new version until January 2011 (LifeWise II). The original product sold by Zurich offered whole life protection with premiums payable for 10 years, 20 years, up to age 65 or for life. These policies are participating; however, dividends are not paid out.

Basic product information

Product administration guide: N/A

Sample contract: N/A

Dividend options: Yes

Bonus: N/A

Dividend options

  • Participating however dividends are not paid out
  • LifeWise was designed using less conservative assumptions, resulting in more affordable premiums
  • The LifeWise guaranteed annual dividend is applied against the gross annual premium resulting in a net annual premium that is very competitive compared with other limited pay products. The net premium shown on the illustration, on lifeguide and on the policy face page is the guaranteed level premium that your client will pay. It has already been reduced to reflect the guaranteed dividend amount



Premium paying period

Base coverage premium payment period = to age 65 

Options at age 106: 

  • Coverage remains in force to the insured's age 106 
  • Base coverage become fully paid-up at the end of the premium payment period
  • Premiums are guaranteed for the life of the policy 

For any riders or benefits continue until their individual termination dates

Policy fees


Deposit load


Values, loans & withdrawals

Non forfeiture option: Yes

Loans: Yes

Withdrawals: N/A

Non-forfeiture option

31 day grace period


Loans are available once the cash values begin



Cash value

  • This policy has guaranteed cash values
  • The values do not begin until year 10

Reduced paid up

Values begin in year 10, but are not illustrated until the amount is at least $5,000

Riders & benefits

Premium offset/holiday: N/A

Premium offset/holiday


Death benefit

Base coverage only

Reinstatement period

2 years


No, this is already in a whole life product