Take advantage of a whole life insurance with significant surrender value, as well as a guaranteed and payable premium for a limited time.
Flexible payments period
This whole life insurance offers the freedom to spread insurance payments as you wish. With a minimal duration of 20 years, you can pay up your insurance until you’re 25, 35, 45, 55, 65, 75 or 85 years old.
A surrender value among the market’s highest
You can cash out parts or the totality of paid premiums once your insurance need has decreased or disappeared, and from your 10th policy anniversary. Surrender can also be partial and the policy holder can borrow on the surrender value.
Partial and full surender values
Your Adaptable is entirely paid and your insurance capital is premium-free? Congratulations! Your surrender value is now available at 100%. Several options are then offered:
- To keep your entire capital and not wihtdrawing your surrender value
- To withdraw partially your surrender value, this decreasing proportionally your insured capital.
- To withdraw entirely your surrender value, this terminating your insurance contract.
If your needs have changed, your kids are independent or your mortgage is paid-up, why keeping your coverage if you can withdraw a part or the totality in exchange for a surrender value?
Moreover, the surrender value and all its included options are available from the 10th year!
UL Mutual knows that your needs change as life goes on. Adaptable gives you the necessary flexibility to modify your policy in the first years. You will then gain several advantages that competitors cannot offer.
Understanding Chapters A and B
Chapter A defines benefits during the period you are paying premiums. It is a term insurance. Chapter A’s protection is in force until due date of premiums, or when premiums stop to be payable. After the deadline, the Chapter B period begins. Chapter B is said to be a “paid-up insurance” or a “paid-up capital” as premiums have been fully paid passed this deadline.
Moreover, Chapter B provides access to policy’s surrender values and paid-up values. If Chapter B worths $0, there is no surrender value or paid-up value. Contrarily to other insurers, UL Mutual gives you the opportunity to subscribe more volume in Chapter B when the contract is issued, or at the 3rd, 5th and 7th anniversary of your insurance. You can adapt your new financial needs to your reality, and this, until seven years following insurance policy subscription.
Advantages of the 3, 5 and 7 anniversary options:rdthth
- To add volume to Chapter B with contract-guaranteed rates
- To match insured capital from Chapter B to Chapter A
- To better answer policy holder or beneficiary fluctuating financial needs
Example 1: Calculating with Chapter A only
A 35 years old non-smoker male chooses Adaptable 65 to insure $100,000 in Chapter A capital and $0 in Chapter B, that being the equivalent of a term insurance until 65 years old. Between 35 and 65 years old, when Chapter A is in force, he pays a monthly premium of $38.79, which ensures his beneficiaries to receive $100,000 in case of death.
This monthly premium automatically decreases according to interest rates increasing, and will never exceed the initial premium rate defined in the contract. Once Chapter A is expired, the client is not insured anymore since his capital value is $0 in Chapter B if he did not subscribe additional volume on the 3rd, 5th and 7th anniversary of the contract.
Example 2: Calculating with Chapter A and B
A 35 years old non-smoker male chooses Adaptable 65 in order to insure $100,000 in Chapter A capital (a protection untill 65 years old) and to keep this coverage in Chapter B capital, still at a capital of $100,000 (a protection after 65 years old).
From 35 to 65 years old, while Chapter A is in force, he pays a monthly premium of $97.47, which ensures his beneficiaries to receive $100,000 in case of death. This monthly premium automatically decreases according to interest rates increasing, and will never exceed the initial premium rate defined in the contract. After 65 years old, the policy holder no longer pays the premium, but will be protected with $100,000 in case of death thanks to his Chapter B capital.
At 65 years old, if he cancels his policy, he receives $40,000 as surrender value. If he cancels the policy at 75 years old, the surrender value is $50,000. In both cases, paid-up capital is $100,000. Nevertheless, the policy holder can choose, when subscribing his insurance policy, a protection reaching $100,000 in Chapter A and $50,000 in Chapter B, as beneficiaries might need less capital once adults. See a financial advisor for more details on possibilities available.
Why is the Adaptable is the best option for you:
- A protection for life, 100% guaranteed
- An opportunity to select a paid-up volume different from temporary volume
- The flexibility to change your insurance on the 3rd, 5th or 7th policy anniversary, without a health statement.
Integral is a whole life insurance for which you pay premium all your life. It offers several advantages like interrupting payments as you wish, without losing money.
Stop paying and be insured... for life!
Free yourself at your will from insurance payments while being protected all your life. Once you definitively stop paying premiums, you will be covered by a reduce insurance equivalent to the total of paid premiums.
Buy back your insurance contract from your 75th anniversary
Cancel your contract and redeem a part of paid premiums. You will be able to use that capital for personal projects or to provide for your needs in case of health problems.
Contact your financial advisor to subscribe to a protection from a whole life insurance Adaptable or Integral.