Term

20 Year Renewable and Convertible Term

Original line of business: Commercial Union

Updated on: Dec 12, 2018

Product snapshot

The 20RCT plan is renewable and convertible term plan which provides level coverage to age 85 with premiums renewing every 20 years at the attained age.

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

Premiums are level for 20 years then renew automatically 

Policy fees

$75.00

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

Can be reinstated any time within 2 years after the date of grace period, subject to reinstatement requirements

Convertible

The right to convert extends to the policy anniversary nearest the life insured's age 65. Conversion may be to any level premium/level sum insured permanent plan offered by the company and premium rate used for conversion is that at the life insured's then attained age