home
The flexibility of the Life Evolutions Series is demonstrated in the premium payment options available under the plan.
Regular Premiums
Regular Premiums comprise the minimum premium for the Liberator and Rejuvenator and regular contributions to Investor. The minimum premium is reviewed periodically by the company and may be changed for all policyholders in order to ensure that your basic protection remains intact.
Unscheduled Premiums
The Investor option allows you to accelerate your savings plan by making additional deposits at anytime, provided that the amount is at least $500.
These "lump sum" deposits will be fully invested in our high-performance Lifestar Fund from inception, allowing you to enjoy maximum growth on your investment.
Where Your Premium Goes
Savings components of your regular premium are allocated for investment from the very first month your policy goes into force.
Unscheduled premiums are also allocated immediately upon payment. Recommended minimum premiums are not allocated for investment until the forth policy year. On Allocation Day the Lifestar Fund is valued and the Fund Index determined.
All premiums allocated for investment are assigned to an account on your behalf. The account is referred to as the Client Accumulation. The amounts are assigned to the account subject to a charge of approximately 6% for regular premium and 3% for unscheduled premiums.
Cash Surrender Values
Life Evolution provides you with the opportunity to accumulate significant cash values in your policy (from inception) through the Investor option.
While your intention is to save for the long-term, we recognize that unforeseen events may cause you to change your plans from time to time.
In the unlikely event that you have to surrender a portion of your policy in the early years, a surrender charge will apply.
Maturity Options
Life Evolution matures at the first policy anniversary after you reach age 65, unless you have chosen the Extended Coverage Option. At maturity all premium payments cease and you will be required to exercise one of three options. You can either use all or part of the accumulated funds to purchase a pension for life, place all or part of the accumulated funds in the Lifestar Fund or take the full cash value of the policy and terminate the contract.
Extended Coverage Option
You can choose to extend your coverage past the normal maturity age of 65.
If you have life insurance protection with the Liberator, you may decide to extend your coverage to age 100.
If you have living assurance protection with the Rejuvenator, you may decide to extend your coverage to age 70.
You simply pay the premiums required regardless of your then current state of health, provided that your policy is in force.
