Whole Life

Security Builder

Original line of business: Monarch Life

Updated on: Feb 26, 2019

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Product snapshot

 The Security Builder product is a whole life participating policy with level premiums.  This product receives dividends and cash surrender cash values, providing ability to withdrawal or loan against the policy. 

Basic product information

Product administration guide: N/A

Dividend options: Yes

Bonus: N/A

Dividend options

Dividend options available on this policy are

  • Paid-up additions
  • Premium reduction
  • Accumulation
  • Units of Monarch Growth Fund

Bonus

N/A

Premium paying period

N/A 

Policy fees

Varies - please refer to policy contract

Deposit load

N/A

Values, loans & withdrawals

Non forfeiture option: Yes

Loans: Yes

Withdrawals: N/A

Non-forfeiture option

Automatic premium loan (APL)

Loans

Available

Withdrawals

N/A

Cash value

Are fully guaranteed as per contract

Reduced paid up

  • Each unit provide $3,000 of insurance until the policy anniversary nearest age 12
  • At age 12 the amount of insurance per unit increases by $200 per year until $5,000 is reached at the policy anniversary nearest age 21

Riders & benefits

Premium offset/holiday: N/A

Premium offset/holiday

N/A

Death benefit

Sum insured plus any dividends if applicable 

Reinstatement period

This policy will be reinstated by the company at any time within three years of the date upon which it lapsed only upon receiving written application to reinstate, payment of premiums and any medical evidence required

Convertible

N/A