Universal Life

Navi-vision B (formerly known as Navigator UL)

Original line of business: Commercial Union

Updated on: Jan 10, 2019

Product snapshot

Navi-Vision is a universal life product with level or YRT cost of insurance and offers various investment options.

Basic product information

Product administration guide: N/A

Sample contract: N/A

Dividend options: N/A

Bonus: Yes 

Dividend options



  • The bonus is calculated on the value in each eligible fund 
  • The bonus is credited to each fund pro-rated to the amount of value in the fund
  • 0.50% of year-end accumulated value in policy years 5-9
  • 0.75% of the year-end accumulated value in policy years 10-14
  • 1.0% of the year-end accumulated value at the 15th year and thereafter


Premium paying period

  • Cost of Insurance (COI) is charged to age 100
  • Can switch from yearly renewable term (YRT) to level COI up to age 80
  • Level COI rates are guaranteed not to change
  • YRT COI rates are subject to change but maximum rates are guaranteed

Policy fees

  • $8.00 per month, guaranteed never to increase
  • Life fee – there are no life fees

Deposit load

  • Varies by province

Values, loans & withdrawals

Non forfeiture option: N/A

Loans: Yes

Withdrawals: Yes

Non-forfeiture option



The maximum loan available is the net cash value of the investment accounts on the policy less three monthly charges and one year’s interest


  • $300 - minimum withdrawal amount
  • $50 - administration fee for each withdrawal
  • Level and indexed death benefit options – the face amount will be reduced when the total withdrawn amounts reach more than $10,000

Cash value

The fund value less any market value adjustments, less any surrender and administration charges, less any loan balance

Reduced paid up


Riders & benefits

Premium offset/holiday: Yes

Premium offset/holiday

The policy will remain inforce as long as there is sufficient value to pay the monthly policy costs

Death benefit 

  • Level face
  • Face plus account value
  • Indexing
  • Account value on last death
  • Account value on first death

Reinstatement period

2 years