A Participating Life Insurance Plan allows you to merge the benefits of a permanent life insurance protection plan along with an opportunity for the growth of cash value, which is tax-deferred.
A Participating Life Insurance Plan allows you to merge the benefits of a permanent life insurance protection plan along with an opportunity for the growth of cash value, which is tax-deferred. Along with these benefits, a Participating Life Insurance Plan guarantees base protection as long as the premiums are paid on time.
With this policy, you can become eligible to receive dividends as well. These can be used in multiple ways. They can be used to buy additional coverage, reduce the value of the existing annual premium, or they can be left untouched to earn interest. They can even be withdrawn as cash. Dividends are not guaranteed.
Why should you choose a Participating Life Insurance Plan?
If you are looking for the benefits of a life insurance plan and a significant way to create savings, then this is the right plan for you.
If you want more ways to save money for retirement and more effectively manage your assets post your demise, then this is the right plan for you.
Suppose you are worried your death benefit may be affected by inflation and not beneficial to your family. In that case, this plan can help you add an extra amount with the savings opportunities it provides.
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What is Sun Par Protector II Life Insurance?
A form of permanent life insurance, the Sun Par Protector II provides a death benefit growth and long-term cash value benefits. This can help you meet your estate planning needs.
The Sun Par Protector II Life Insurance is right for you if:
Plan Details:
Premium Payment Options:
There are three payment options available.
Coverage Options:
There are four types of coverage options available with this plan.
Coverage amount:
Minimum:
Maximum:
Dividend Options:
Based on your unique financial goals, you can select from up to 5 dividend options.
Paid-up additional insurance
This benefit directs any dividend you earn back into your insurance policy. The dividend amount credited is used as a premium to add additional insurance. This means you don’t have to pay premiums for the insurance purchased using the dividend amount.
This additional insurance purchased is also a participating form of insurance and hence is subject to the same rules. It can also earn dividends and possesses cash value. You are able to increase your death benefit using this compounded growth.
Enhanced insurance
This benefit uses the dividend amount credited to pay for a combination of two types of insurance. One is additional insurance in the same plan. And the other is yearly term insurance.
The yearly insurance is gradually replaced by the permanent insurance format. Once all the yearly insurance has been replaced, the amount being credited after this will be used to purchase more insurance and your death benefit will begin increasing.
The amount received as enhanced insurance is guaranteed for life. The base amount and the enhanced amount are both payable even if all the yearly term insurance has not been paid for. You will be required to pay all premiums even if this benefit is in effect.
Annual premium reduction
Using this benefit, you can reduce the amount of the premiums you are required to pay for a financial year. The dividends earned in a year are used as premiums in the following year. This helps reduce the burden of paying premiums.
If the amount of money earned via dividends exceeds the total premium payable, the amount is deposited in a fund that earns interest daily. You can use this amount to pay for future premiums or use it as per your wish.
Dividends on deposit
Dividends credited to the policy are deposited in an account that functions very similarly to a savings account. This account is made with Sun Life. The amount deposited can be accessed at any time. It also earns interest daily and is compounded on a yearly basis at an interest rate set by Sun Life.
Cash Payment
Dividends can be received annually in the form of cash with the help of this benefit.
Additional Features:
With the help of Sun Par Protector II, you can get access to the cash value of your policy at any time. Your policy contains two types of cash value; guaranteed and non-guaranteed.
A policy loan can be requested at any time, as long as there is enough cash value in the policy. The amount you borrow is subject to a variable interest rate and is payable at any time without a penalty. If the amount is not repaid, the outstanding balance will be deducted from the death benefit of your policy. This amount may be subject to taxation.
The cash value of your policy can be accessed by withdrawing it. This is only applicable if you have selected paid-up additional insurance or dividend on deposit as the mode of dividend payment.
A living benefit is available to the insured if they have been diagnosed with a terminal illness. The payout we are liable to deliver can only be up to 50% of the agreed-upon insurance amount, to a maximum of $250,000. The approval for the living benefit plan is subject to our discretion and the program rules that are in effect at the time of application for this benefit. This is a non-contractual benefit.
Once the required documents have been received and verified and the policy is approved by us, we will issue the payment. Once we receive a death claim on this policy, the coverage amount will be provided to the beneficiary after the deduction of the living benefit issued and the interest accrued
In the situation that the first insured has passed away, the surviving insured can buy life insurance to replace the joint coverage, within a time period of 90 days. The benefit allows them to do so without having to provide any medical evidence to support their insurability.
With this benefit, the beneficiary can claim the base coverage amount of the policy twice, if and only if the two insured die together or within 90 days of each other.
Using this benefit, you can pay an additional premium towards the policy. This payment can help you increase your cash value in a tax-preferred manner. The payment is used to buy additional insurance and will be used in addition to the insurance purchased using dividends.
Optional Benefits
Using this benefit, you can pay an additional premium towards the policy. This payment can help you increase your cash value in a tax-preferred manner. The payment is used to buy additional insurance and will be used in addition to the insurance purchased using dividends.
Optional benefits (non-participating)
The base insurance amount and any additional insurance purchased are considered as a participating amount. The following benefits are designed to be non-participating and are not taken into consideration while making decisions on dividends.
This benefit, if opted for, allows you to purchase additional insurance to handle a temporary requirement. This can also allow you to insure another person, such as a spouse, family member, or business partner. With this benefit, it is possible to renew or convert this insurance to another life insurance plan without having to provide medical evidence of insurability.
With this benefit, if the insured has become totally disabled, they will be exempt from paying premiums but will be able to receive coverage.
In the situation that the policy owner has passed away and they were not the insured individual, we will be obliged to make the payment of premiums along with optional benefits.
In the situation that the policy owner has become completely disabled, and is not the insured individual, we will be obliged to make the payment of premiums along with optional benefits.
This benefit is a combination of the owner waiver death benefit and owner waiver disability benefit. If both benefits are purchased, there is a discount applied to the benefit premium.
The beneficiaries of this policy will be provided with an additional death benefit if the insured passes away as a result of an accident.
This benefit allows your children or future children to be covered under insurance protection
until they reach 25 years of age. Your children will be able to purchase additional insurance without having to provide medical proof of insurability.
This benefit allows the insured individual to purchase more life insurance without having to worry about providing medical evidence for the same.
With this benefit, the insured can increase the coverage for their business as its value grows. The owner can also purchase additional coverage based on the value of the company or business without providing medical evidence of insurability. The individual must provide financial information pertaining to the business; this includes details about the fair market value of the business.
Sample Policies:
If you would like to view a sample of how the policy may be termed, please use the below links. This document is only a sample, and the provisions mentioned here may or may not apply to your policy as well. The insurance policy that you choose is an agreement between you, as an individual, and us as a company.
Additional feature
Call 1 844-542-4678 to speak to our advisors.
What is Sun Par Accumulator II Life Insurance?
This plan is a time of permanent or whole life insurance that helps you accumulate cash value in the early years. It also provides long-term cash value and growth benefits to help meet your real estate planning requirements.
The Sun par accumulator II is right for you if:
Plan Details:
Premium Payment Options:
There are three payment options available.
Coverage Options:
There are four types of coverage options available with this plan.
Coverage amount:
Minimum:
Maximum:
Dividend Options:
Based on your unique financial goals, you can select from up to 5 dividend options.
This benefit directs any dividend you earn back into your insurance policy. The dividend amount credited is used as a premium to add additional insurance. This means you don’t have to pay premiums for the insurance purchased using the dividend amount.
This additional insurance purchased is also a participating form of insurance and hence is subject to the same rules. It can also earn dividends and possesses cash value. You are able to increase your death benefit using this compounded growth
This benefit uses the dividend amount credited to pay for a combination of two types of insurance. One is additional insurance in the same plan. And the other is yearly term insurance.
The yearly insurance is gradually replaced by the permanent insurance format. Once all the yearly insurance has been replaced, the amount being credited after this will be used to purchase more insurance and your death benefit will begin increasing.
The amount received as enhanced insurance is guaranteed for life. The base amount and the enhanced amount are both payable even if all the yearly term insurance has not been paid for. You will be required to pay all premiums even if this benefit is in effect.
Using this benefit, you can reduce the amount of the premiums you are required to pay for a financial year. The dividends earned in a year are used as premiums in the following year. This helps reduce the burden of paying premiums.
If the amount of money earned via dividends exceeds the total premium payable, the amount is deposited in a fund that earns interest daily. You can use this amount to pay for future premiums or use it as per your wish.
Dividends credited to the policy are deposited in an account that functions very similarly to a savings account. This account is made with Sun Life. The amount deposited can be accessed at any time. It also earns interest daily and is compounded on a yearly basis at an interest rate set by Sun Life.
Dividends can be received annually in the form of cash with the help of this benefit.
Additional Features:
With the help of Sun Par Protector II, you can get access to the cash value of your policy at any time. Your policy contains two types of cash value; guaranteed and non-guaranteed.
A policy loan can be requested at any time, as long as there is enough cash value in the policy. The amount you borrow is subject to a variable interest rate and is payable at any time without a penalty. If the amount is not repaid, the outstanding balance will be deducted from the death benefit of your policy. This amount may be subject to taxation.
The cash value of your policy can be accessed by withdrawing it. This is only applicable if you have selected paid-up additional insurance or dividend on deposit as the mode of dividend payment.
A living benefit is available to the insured if they have been diagnosed with a terminal illness. The payout we are liable to deliver can only be up to 50% of the agreed-upon insurance amount, to a maximum of $250,000. The approval for the living benefit plan is subject to our discretion and the program rules that are in effect at the time of application for this benefit. This is a non-contractual benefit.
Once the required documents have been received and verified and the policy is approved by us, we will issue the payment. Once we receive a death claim on this policy, the coverage amount will be provided to the beneficiary after the deduction of the living benefit issued and the interest accrued
In the situation that the first insured has passed away, the surviving insured can buy life insurance to replace the joint coverage, within a time period of 90 days. The benefit allows them to do so without having to provide any medical evidence to support their insurability.
With this benefit, the beneficiary can claim the base coverage amount of the policy twice, if and only if the two insured die together or within 90 days of each other.
Optional Benefits
Using this benefit, you can pay an additional premium towards the policy. This payment can help you increase your cash value in a tax-preferred manner. The payment is used to buy additional insurance and will be used in addition to the insurance purchased using dividends.
Optional benefits (non-participating)
The base insurance amount and any additional insurance purchased are considered as a participating amount. The following benefits are designed to be non-participating and are not taken into consideration while making decisions on dividends.
This benefit, if opted for, allows you to purchase additional insurance to handle a temporary requirement. This can also allow you to insure another person, such as a spouse, family member, or business partner. With this benefit, it is possible to renew or convert this insurance to another life insurance plan without having to provide medical evidence of insurability.
With this benefit, if the insured has become totally disabled, they will be exempt from paying premiums but will be able to receive coverage.
In the situation that the policy owner has passed away and they were not the insured individual, we will be obliged to make the payment of premiums along with optional benefits.
In the situation that the policy owner has become completely disabled, and is not the insured individual, we will be obliged to make the payment of premiums along with optional benefits.
This benefit is a combination of the owner waiver death benefit and owner waiver disability benefit. If both benefits are purchased, there is a discount applied to the benefit premium.
The beneficiaries of this policy will be provided with an additional death benefit if the insured passes away as a result of an accident.
This benefit allows your children or future children to be covered under insurance protection
until they reach 25 years of age. Your children will be able to purchase additional insurance without having to provide medical proof of insurability.
This benefit allows the insured individual to purchase more life insurance without having to worry about providing medical evidence for the same.
With this benefit, the insured can increase the coverage for their business as its value grows. The owner can also purchase additional coverage based on the value of the company or business without providing medical evidence of insurability. The individual must provide financial information pertaining to the business; this includes details about the fair market value of the business.
Sample Policies:
If you would like to view a sample of how the policy may be termed, please use the below links. This document is only a sample, and the provisions mentioned here may or may not apply to your policy as well. The insurance policy that you choose is an agreement between you, as an individual, and us as a company.
Additional feature
Call 1 844-542-4678 to speak to our advisors.
What is Sun Par Accelerator Life Insurance?
The main feature of this life insurance policy is that it enables you to pay off your premium obligations in 8 years. The Sun Par Accelerator Life Insurance is a type of permanent or whole life insurance that provides cash value both in the early years and long-term. It allows you to address your real estate requirements with a growing death benefit.
The Sun Par Accelerator Life Insurance Plan is right for you if:
Plan Details:
Premium Payment Options
There are three payment options depending on the type of coverage you select.
Coverage Options:
There are three types of coverage options available with this plan.
Coverage amount:
Minimum:
Maximum:
Dividend Options:
The Sun Par Accelerator Life Insurance plan is drafted with this option as default.
We use the dividend amount credited, on every policy anniversary, to pay for a combination of two types of insurance. One is additional insurance in the same plan. And the other is yearly term insurance.
The yearly insurance is gradually replaced by the permanent insurance format. Once all the yearly insurance has been replaced, the amount being credited after this will be used to purchase more insurance and your death benefit will begin increasing.
The amount received as enhanced insurance is guaranteed for life. The base amount and the enhanced amount are both payable even if all the yearly term insurance has not been paid for. You will be required to pay all premiums even if this benefit is in effect.
Additional Features:
With the help of Sun Par Protector II, you can get access to the cash value of your policy at any time. Your policy contains two types of cash value; guaranteed and non-guaranteed.
A policy loan can be requested at any time, as long as there is enough cash value in the policy. The amount you borrow is subject to a variable interest rate and is payable at any time without a penalty. If the amount is not repaid, the outstanding balance will be deducted from the death benefit of your policy. This amount may be subject to taxation.
The cash value of your policy can be accessed by withdrawing it. This is only applicable if you have selected paid-up additional insurance or dividend on deposit as the mode of dividend payment.
A living benefit is available to the insured if they have been diagnosed with a terminal illness. The payout we are liable to deliver can only be up to 50% of the agreed-upon insurance amount, to a maximum of $250,000. The approval for the living benefit plan is subject to our discretion and the program rules that are in effect at the time of application for this benefit. This is a non-contractual benefit.
Once the required documents have been received and verified and the policy is approved by us, we will issue the payment. Once we receive a death claim on this policy, the coverage amount will be provided to the beneficiary after the deduction of the living benefit issued and the interest accrued
In the situation that the first insured has passed away, the surviving insured can buy life insurance to replace the joint coverage, within a time period of 90 days. The benefit allows them to do so without having to provide any medical evidence to support their insurability.
With this benefit, the beneficiary can claim the base coverage amount of the policy twice, if and only if the two insured die together or within 90 days of each other.
Optional Benefits
Using this benefit, you can pay an additional premium towards the policy. This payment can help you increase your cash value in a tax-preferred manner. The payment is used to buy additional insurance and will be used in addition to the insurance purchased using dividends.
Optional benefits (non-participating)
The base insurance amount and any additional insurance purchased are considered as a participating amount. The following benefits are designed to be non-participating and are not taken into consideration while making decisions on dividends.
This benefit, if opted for, allows you to purchase additional insurance to handle a temporary requirement. This can also allow you to insure another person, such as a spouse, family member, or business partner. With this benefit, it is possible to renew or convert this insurance to another life insurance plan without having to provide medical evidence of insurability.
With this benefit, if the insured has become totally disabled, they will be exempt from paying premiums but will be able to receive coverage.
In the situation that the policy owner has passed away and they were not the insured individual, we will be obliged to make the payment of premiums along with optional benefits.
In the situation that the policy owner has become completely disabled, and is not the insured individual, we will be obliged to make the payment of premiums along with optional benefits.
This benefit is a combination of the owner waiver death benefit and owner waiver disability benefit. If both benefits are purchased, there is a discount applied to the benefit premium.
The beneficiaries of this policy will be provided with an additional death benefit if the insured passes away as a result of an accident.
This benefit allows your children or future children to be covered under insurance protection
until they reach 25 years of age. Your children will be able to purchase additional insurance without having to provide medical proof of insurability.
This benefit allows the insured individual to purchase more life insurance without having to worry about providing medical evidence for the same.
With this benefit, the insured can increase the coverage for their business as its value grows. The owner can also purchase additional coverage based on the value of the company or business without providing medical evidence of insurability. The individual must provide financial information pertaining to the business; this includes details about the fair market value of the business.
Sample Policies:
If you would like to view a sample of how the policy may be termed, please use the below links. This document is only a sample, and the provisions mentioned here may or may not apply to your policy as well. The insurance policy that you choose is an agreement between you, as an individual, and us as a company.
Additional feature
Call 1 844-542-4678 to speak to our advisors.
