Whole Life

Security Builder Plus

Original line of business: Monarch Life

Updated on: Dec 14, 2018

Product snapshot

The Security Builder product is a whole life, participating policy. Dividends when credited, will be depending on selection applied to non-participating paid-up dividend addition to the policy or applied toward the payment of any premium or left with the company to accumulate to the credit of this policy.

Basic product information

Product administration guide: N/A

Sample contract: Yes

Dividend options: Yes

Bonus: N/A

Dividend options

Dividends when credited, will be depending on selection applied to non-participating paid-up dividend addition to the policy or applied toward the payment of any premium or left with the company to accumulate to the credit of this policy

Bonus

N/A

Premium paying period

Premiums are level and payable to age 60 and then goes paid-up

Policy fees

Varies - please refer to policy contract

Deposit load

N/A

Values, loans & withdrawals

Non forfeiture option: Yes

Loans: Yes

Withdrawals: N/A

Non-forfeiture option

Automatic premium loan

Loans

Available

Withdrawals

N/A

Cash value

Are fully guaranteed as per contract

Reduced paid up

  • If the policy was issued prior to Dec. 2, 1982: can go RPU anytime
  • If the policy was issued after Dec. 1, 1982: can go RPU at the end of the 20th policy year

Riders & benefits

Premium offset/holiday: N/A

Premium offset/holiday

N/A

Death benefit

Sum insured plus any dividends if applicable        

Reinstatement period

The policy may be reinstated at any time within three years after the date of lapse subject to underwriting approval from additional medical evidence along with any and all outstanding premiums 

Convertible

N/A