Whole Life

Classic Whole Life

Original line of business: North American Life

Updated on: Dec 13, 2018

Product snapshot

The Classic Whole Life are participating life insurance plans that provide lifetime protection. These plans have guaranteed cash and paid-up values. There may be additional cash and paid-up values resulting from the dividend option elected. These paid-up values are guaranteed after they are purchased through the dividend option elected.

Basic product information

Product administration guide: N/A

Sample contract: N/A

Dividend options: Yes

Bonus: N/A

Dividend options

  • Cash
  • Premium reduction
  • Premium reduction
  • Term bonus additions
  • Paid-up additions



Premium paying period

Premiums are payable to age 100

Policy fees

Fee is indicated in policy contract

Deposit load


Values, loans & withdrawals

Non forfeiture option: Yes

Loans: Yes

Withdrawals: Yes

Non-forfeiture option

Automatic premium loan (APL)


Loans are available


Dividend withdrawals are available

Cash value

Basic cash values are fully guaranteed

Reduced paid up

Policy can go reduced paid up at the end of the 20th policy year

Riders & benefits

Premium offset/holiday: N/A

Premium offset/holiday


Death benefit


Reinstatement period

If this policy lapses, it may be reinstated within two years thereafter on submission of evidence of insurability satisfactory to the company and payment of all unpaid premiums with interest at a rate to be determined from time to time by the company