Term
Term 10 Renewable & Convertible
Original line of business: Maritime Life
Updated on: Dec 17, 2018
Product snapshot
The Term 10 Renewable and Convertible plan renews every 10 years and expires at age 75. This type of product is participating however the dividends are reflected in the premium and there are no dividend options available. This product is convertible to the later of age 65 or 10 years from issue but never past age 70.
Basic product information
Product administration guide: N/A
Sample contract: N/A
Dividend options: N/A
Bonus: N/A
Dividend options
N/A
Bonus
N/A
Premium paying period
Premium renew every 10 years at guaranteed rates in the contract
Policy fees
N/A
Deposit load
N/A
Values, loans & withdrawals
Non forfeiture option: N/A
Loans: N/A
Withdrawals: N/A
Non-forfeiture option
N/A
Loans
N/A
Withdrawals
N/A
Cash value
No cash values
Reduced paid up
N/A
Riders & benefits
Premium offset/holiday: N/A
Premium offset/holiday
N/A
Death benefit
Basic coverage only
Reinstatement period
N/A
Convertible
Policy is convertible to age 65, however if the policy is issued in 2004 please check the contract for the conversion expiry date