Term 20 is a flexible low-cost life insurance coverage that meets short term security needs while building tax-deferred savings.
The accumulated funds generated over the years allow the client to:
The cost of insurance is level for the first 20-year term, which means it will not increase. After that period, it will increase on an annual basis.
If the insured is between 18 and 60 years old, the cost of insurance ceases to be payable at age 90.
If the insured is between 61 and 75 years old, the cost of insurance ceases to be payable when whichever of the following events first occurs:
Term 20 can be converted into a permanent product up until age 70, without having to provide new evidence of insurability.
For in-force contracts, please refer to the contract's conversion clause to find out the maximum age at which the option may be exercised. If the option is not included in the contract, please contact Head Office.
Individual coverages include an option to exchange the individual coverage for a joint last-to-die coverage, up to age 70. This option allows you to add new insureds to the joint coverage. The products offered are the same as those available for conversion.
For in-force contracts, please refer to the contract's conversion clause to find out the maximum age at which the option may be exercised. If the Association Option is not included in the contract, please contact Head Office.
To order, contact your financial centre's administrative assistant or follow your current procedure and specify the identification number.
Client folder - Desjardins - 19211E
Universal life insurance client sheet - 17056E
Universal life insurance reference guide - 17056E01
Universal life insurance investment options - Comparison sheet - 17056E02
Client sheet - Assistance services - Life insurance - 19197E