|
Features |
Strategic Index Plus (SIP) Registered |
Tactical Index Plus
(TIP) Registered |
Tactical Index Plus
(TIP) Non-registered |
|
RRSP Eligibility |
RRSP, RRIF, LIRA and LIF
Consult the illustration software for RRIFs. |
RRSP, RRIF, LIRA and LIF
Consult the illustration software for RRIFs. |
Non eligible |
|
Minimum Deposit |
$500 |
$500 |
$500 |
|
|
All deposits are initially invested in a daily interest fund pending their investment on the next issue date. The sum accumulated (minimum of $500) on this date, called the initial date, constitutes the initial deposit and will be invested in the option and term selected. The maturity date of a PAC depends on the initial date and term. |
|
Guarantee at Death |
For deposits made before age 72
The death benefit is the highest between 100% of the initial deposit or the current value.
For deposits made from age 72 to 79
For the first three years, the death benefit is the highest between 100% of the initial deposit or the surrender value.
Thereafter, the death benefit is the highest between 100% of the initial deposit or the current value.
For deposits made from age 80 to 95
The first year, the death benefit is the higest between 80% of the initial deposit or the surrender value.
The second year, the death benefit is the highest between 90% of the initial deposit or the surrender value.
The third year, the death benefit is the higest between 100% of the initial deposit or the surrender value.
Thereafter, the death benefit is the higest between 100% of the initial deposit or the current value. |
For deposits made before age 80
The death benefit is 100% of the initial deposit.
For deposits made from age 80 to 95
The first year, the death benefit is the highest between 80% of the initial deposit or the surrender value (up to 100% of the initial deposit).
The second year, the death benefit is the highest between 90% of the initial deposit or the surrender value (up to 100% of the initial deposit).
Thereafter, the death benefit is 100% of the initial deposit.
Upon the annuitant's death, the beneficiary can keep the contract until the maturity date. |
|
Redemption Option |
The initial deposit may be redeemed or transferred in part or in full at any time.
Surrender value = current value - [(compound interest rate on deposit with similar remaining term + 1.5% - i%) X number of years to maturity remaining X current value]
where i = 2.4% for contracts of less than 7 years, and 2.6% for contracts of 7 years or more.
The surrender value cannot exceed the current value. It may be greater or smaller than the initial deposit for registered versions but may not be greater than the initial deposit for non-registered versions. |
|
Volatility |
Low: 3% to 5%
Slightly below that of a bond portfolio |
Low: 5% to 7%
Similar to that of a bond portfolio |
|
Potential Return |
No cap |
No cap |
No cap |
|
Taxation and Tax Advantage |
Tax sheltered |
Tax sheltered |
Taxed at maturity
Income eligible for the $1,000 pension income credit for those aged 65 or older |
|
Interest on Deposits Made Before an Issue Date |
Daily interest rate +1% |
Daily interest rate +1% |
Daily interest rate +1% |
|
Management Fees (% of initial deposit) |
Max.: 2.5%
Currently less than 2% |
Max.: 2.5%
Currently less than 2% |
Max.: 2.5%
Currently less than 2% |
|
Assuris Protection |
Yes |
Yes |
Yes |
|
1st Year Commission and Trailer Fees |
3-year term (not available) : 1.5% plus 0.25% per year
6-year term: 2.0% plus 0.25% per year
7.75-year term: 3.0% plus 0.25% per year |