Whole Life 

Permaterm Plus

Original line of business: Financial Life

Updated on: Dec 14, 2018

Product snapshot

Permaterm plus is a level premium, level death benefit with costing payable to age 100. 

Basic product information

Product administration guide: N/A

Sample contract: N/A

Dividend options: Yes

Bonus: N/A

Dividend options

None-participating 

Bonus

N/A

Premium paying period

Level premiums are guaranteed and payable to age 100

Policy fees

  • Term Insurance $100
  • Permanent Insurance $200
  • Joint First or Joint Second $400
  • Additional rider, same life $0

Deposit load

N/A

Values, loans & withdrawals

Non forfeiture option: Yes

Loans: Yes

Withdrawals: N/A

Non-forfeiture option

Automatic premium loan is the default 

The loan rate is fixed in the policy contract as follows:  

  • Years 1 - 10: 9.5%
  • Years 11 - 20: 9.0%
  • Years 21 - 30: 8.5%
  • Years 31+: 8.0% 

Loans 

  • Policy loans are not available on this product
  • This plan allows automatic premium loans 

Withdrawals

N/A

Cash value

Offer increasing cash surrender values

Reduced paid up

Guaranteed reduced paid-up values

Riders & benefits

Premium offset/holiday: N/A

Premium offset/holiday

N/A

Death benefit

Basic coverage only minus any loans along with interest if applicable

Reinstatement period

You may apply to reinstate your policy at any time within two years after the start of the grace period

Convertible

N/A