Life 20 is a new permanent life insurance product with a guaranteed cash surrender value. Premiums are only payable for 20 years. Life 20 offers your clients cash surrender values and reduced paid-up insurance as of the 10 policy anniversary.

How it works

Features
 

• Affordable paid-up premiums as of the 20 year
• Additional paid-up benefits in 20 years
• Generous guaranteed cash surrender values available as of the 10 year
• Reduced paid-up insurance starting at the 10 year
• Available to clients between the ages of 0 and 65 years (age nearest birthday)
• Face amounts: From $10,000 to $5,000,000
• Offered as individual coverage, joint first-to-die, joint last-to-die and joint last-to-die with waiver of premium on 1 death
• $50 annual policy fee
• Eligible for term insurance conversions
   

Target Market

Life 20 is designed for clients looking for totally guaranteed permanent life insurance, at a fixed and affordable price, with a limited payment period. Return of premium is one of the most appealing elements of this product for clients who always want more for their money.
 

1. Aging couple between 35 and 55 years old with children, thinking of their retirement, can offer themselves more than a term insurance, but are looking for an affordable product, are stable financially and are able to make the required periodic payments.
2. Retirees who wish to preserve their inheritance, have grandchildren and want to leave them a certain sum, and want to plan and preserve their succession.
3. Asian market (Outside Quebec)
     

Return of Premiums

Desjardins Financial Security is one of the only companies in the industry to offer your clients cash surrender values as of the 10 year. In the event of cancellation of coverage between the 10 and 20 policy anniversaries, Life 20 allows for a partial reimbursement of premiums* and, generally, after the 20 year, a reimbursement that may exceed 100% of premiums paid.

* Subject to all applicable tax regulations

Example: 40-year-old male, non-smoker, $100,000