Whole Life

Security Builder 

Original line of business: Manulife

Updated on: Dec 14, 2018

Product snapshot

The Security Builder policy is a whole life policy with 5 special features:

  •   Deposit Option
  •  Free Accidental Death Benefit
  •  Valued Client Bonus
  •  Paid-Up at age 99 and
  • High Guaranteed Cash Values.

Basic product information

Sample contract: N/A

Dividend options: Yes

Bonus: N/A

Dividend options 

  • Bonus (PUAs)
  • Accumulation
  • Premium reduction
  • Cash 5 (dividend sent by cheque every year)
  • Cash 6 (dividend applied to loan)



Premium paying period

Premium payments 

  • The basic premium is level and is guaranteed for the life of the plan 

Deposit option insurance

  • Option to deposit additional money into the plan to purchase paid up additions
  • Earlier premium offset
  • Longer and more frequent premium holidays
  • Increased death benefit and cash value without additional premiums
  • An annual maximum exists
  • The client cannot make deposit option payments when there is a policy loan.  If they are making deposit options payments and request a loan, the deposit options payments will stop

Policy fees


Deposit load


Values, loans & withdrawals

Non-forfeiture option

Automatic premium loan



  • Loans are available
  • Up to 90% of the cash value is available
  • The client cannot make deposit option payments when there is a policy loan, if they are currently making any PAC deposit options payments, these must stop




  • Dividend may be withdrawn 
  • There is currently no fee for withdrawals. Plans used to have a $25.00 fee which Manulife has decided to waive
  • $500.00 minimum withdrawal from the PUAs


Cash value

This policy has guaranteed cash values beginning at the date specified in the contract    

Reduced paid up

Reduced paid-up values

Riders & benefits

Premium offset/holiday: N/A

Premium offset/holiday


Death benefit

Basic coverage plus any dividends 

Reinstatement period