PREFERRED 10 YEAR TERM

Overview

The Preferred 10 Year Term policy is inexpensive, renewable every 10 years and can be converted to a permanent life insurance plan at any time. Your premiums remain the same for each 10-year period. You can renew your policy without any additional medical information for additional 10-year periods. You can renew your policy to age 80 and convert it to a permanent life insurance plan before age 65. There are a number of options available with this plan included an Indexing option. It can be purchased if you are 18 to 70.

Standard Benefits

Coverage
Coverage amounts can range from $50,000 to $5,000,000. With the Indexing option, the initial maximum benefit is $3,500,000.

Renewable
Prior to age 80, you can renew your policy without any new medical information, for additional 10-year periods. This benefit is included at no extra cost.

Convertible
Prior to age 65, you can convert your policy, without any new medical questions, to one of a number of permanent life insurance plans. This benefit is included at no extra cost.

Optional Features

Indexing Option
This option automatically increases the coverage amount, beginning in the second policy year, by 5% per year to a maximum of 150% of the original coverage amount. You may cancel this option at anytime in writing. Once cancelled, the Indexing option cannot be restarted. The maximum initial coverage amount you can apply for is $3,500,000.

Accidental Death Benefit
If you die by accidental means and your payments are up to date, your coverage amount is doubled. For example, if your initial coverage amount is $100,000 and you die in an accident, your beneficiary will receive a total of $200,000. This option is available for those 18 to 60. Premiums for this option will not increase. This benefit ends when you turn 70.

Disability Waiver
With this benefit, if you become completely and continuously disabled for more than 6 months, your premiums will be paid until you are no longer completely disabled. This benefit ends when you turn 65. This option is available for those 18 to 60.

Child Term Rider
If you purchase the Preferred 10 Year Term plan, you can also purchase $10,000 to $20,000 in coverage for your children. This option is available for children 0 to 16 years old. The benefit ends when the child turns 25, or when you turn 65, whichever occurs first. When this benefit does expire, the child may convert the coverage to a term or permanent life insurance plan worth up to 5 times the Child Term rider amount.

Payments

Premium payments may be made annually, semi-annually, or monthly through automatic banking. The annual policy fee is $75 for the first policy, and an additional $50 for each additional policy (spouse or child). If you apply for more than one policy on your life, you are only charged one policy fee. You can pay annually or semi-annually by cheque, or by automatic monthly withdrawals from your bank account.