Universal Life

Navi-vision D (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



There are two types of bonus:

Interest Bonus

  • The bonus is calculated on the value in each eligible fund, less any cash loans
  • The bonus is credited to funds based on the current investment deposit allocation
  • 0.50% of year-end accumulated value in policy years 10-20
  • 0.20% thereafter

Conditional Bonus

  • Conditional upon the fund value less any cash loans (net value)
  • Based on a multiple of the minimum premium, reduced by any riders or benefits, other than Navi-vision coverages (basic premium)
  • Multiple is net value divided by basic annual premium
  • < 15 time multiple, credits 0.0%
  • 15-29 times multiple, credits 0.10%
  • 45-59 times multiple, credits 1.20%
  • 60+ times multiple, credits 1.75% 

Premium paying period

  • Costs for each coverage are guaranteed at issue 
  • Can switch from YRT to level COI
  • Level COI rates terminate after attained age 100
  • YRT COI rates 10 year select period – refer to policy contract
  • YRT COI rates terminate after attained age 85

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  • Level and indexed death benefit options – the face amount will be reduced when the total withdrawn amounts reach more than $10,000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
  • Surrender bonus
    • Available on level COI only
    • Guaranteed bonus payable in addition to the CSV of the policy upon full surrender
    • Commences at the end of the tenth anniversary (see schedule in specific contract for annual amounts)

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