Whole Life

Twenty-One Plan (21 Plan) 

Original line of business: Manulife

Updated on: Dec 12, 2018

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Product snapshot

The 21 Plan is a whole life policy that becomes paid-up at age 65 or age 99. This plan can be participating or non-participating.

Basic product information

Product administration guide: N/A

Sample contract: N/A

Dividend options: Yes

Bonus: N/A

Dividend options

  • Bonus additions
  • Cash
  • Premium reduction
  • Accumulation

Bonus

N/A

Premium paying period

  • The premium remains level to age 65 or 99
  • Premium remains at initial amount even after the face amount is increased 

Policy fees

N/A

Deposit load

N/A

Values, loans & withdrawals

Non forfeiture option: Yes

Loans: Yes

Withdrawals: Yes

Non-forfeiture option

Automatic premium loan (APL) 

Loans

Loans are available 

Withdrawals

Dividends may be withdrawn

Cash value

  • This policy has guaranteed cash values
  • The values increase by increments to age 99 until it equals the new death benefit

Reduced paid up

As per contract reduced paid up values are available after 20 policy years

Riders & benefits

Premium offset/holiday: N/A

Premium offset/holiday

N/A

Death benefit

Basic coverage plus any dividends

Reinstatement period

N/A

Convertible

No