Whole Life
Twenty-One Plan (21 Plan)
Original line of business: Manulife
Updated on: Dec 12, 2018
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Dividends may be withdrawn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