Whole Life

Single Premium

Original line of business: Monarch Life

Updated on: Dec 21, 2018

Product snapshot

This is a Whole Life participating 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 do not differ by smoker status but dividends do
  • Premiums are level and guaranteed
  • Single premium paid

Policy fees

N/A

Deposit load

N/A

Values, loans & withdrawals

Non forfeiture option: N/A

Loans: Yes

Withdrawals: N/A

Non-forfeiture option 

N/A

Loans 

  • Loans are available
  • Interest rates range from 6% fixed to prime plus 2%, depending on issue date 

Withdrawals

N/A

Cash value

This policy has guaranteed cash values in the contract

Reduced paid up

N/A

Riders & benefits

Premium offset/holiday: N/A

Premium offset/holiday

Please note that premium offset is not available on this policy

Death benefit

Basic coverage plus any dividends (if participating)

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 all outstanding premiums 

Convertible

No it is a permanent product