Whole Life

New Money 5

Original line of business: Aetna

Updated on: Dec 14, 2018

Product snapshot

The New Money Life is a non-participating, adjustable premium, whole life product.

Basic product information

Product administration guide: N/A

Sample contract: N/A

Dividend options: N/A

Bonus: N/A

Dividend options




Premium paying period

  • This product is adjustable based on interest rates, mortality rates and expenses
  •  The premiums are reviewed every 5 years based on these factors
    • If interest rates decrease, then premiums may increase at the next adjustment
    • If interest rates increase, then premiums may decrease at the next adjustment

Policy fees

If applicable noted in policy contract

Deposit load


Values, loans & withdrawals

Non forfeiture option: Yes

Loans: Yes

Withdrawals: N/A

Non-forfeiture option

Automatic premium loan (APL)


  • Loans are available on 85% of the current cash value
  • Not available on a reduced paid up policy as there is no cash value 



Cash value

Policy has cash value that varies depending on interest rate and coverage amounts. If the client chooses to have a reduced paid up policy, they no longer have access to the cash values in the policy, meaning no value at time of surrender

Reduced paid up 

  • The minimum face amount for RPU is $2,500.00
  • Any outstanding loans must be repaid before changing the policy to reduced paidup  

There are two types of reduced paid-up: 

1) Reduced paid up guaranteed 

  • Value is guaranteed not to change (no longer adjusted)
  • Will be lower than the adjustable RPU 

2) Reduced paid up adjustable (new money) 

  • Face amount is subject to adjustments every 5 years
  • Face amount can increase or decrease and is not guaranteed


Riders & benefits

Premium offset/holiday: N/A

Premium offset/holiday


Death benefit

Base coverage only 

(Please note that the death benefit can increase or decrease at adjustment dates depending on the option chosen by the client)

Reinstatement period

2 years