|amount of pay||Single||Joint|
|8 pay||0 – 65||18 – 65|
- Single Life
- Joint first-to-die
- Survivor benefit and Automatic survivor benefit are included
- Joint last-to-die, premiums to second death
Sun Par Accelerator polices are issued with the enhanced insurance dividend option.
On each policy anniversary, any dividend we credit to your policy is used to purchase a combination of yearly term insurance and paid-up additional insurance. This combined amount of insurance is equal to the enhanced insurance amount in your policy.
Over time, the yearly term insurance is replaced by permanent paid-up additional insurance. In the future, once all of the yearly term insurance has been replaced, any dividends credited to your policy will be used to buy more paid-up additional insurance. At this point your death benefit will begin increasing.
The enhanced insurance amount is guaranteed for life. This means that we will guarantee both the enhanced insurance amount and the base insurance amount, even if dividends in the future are not enough to pay the cost of the yearly term insurance. It is important to remember that even with this guarantee, you must pay all of the premiums required for your policy.
Guaranteed cash value: Sun Par Accelerator will provide you with a guaranteed cash value based on several factors, including the guaranteed death benefit and your age, gender and smoking status. A schedule of guaranteed cash values is included in your policy. With Sun Par Accelerator, guaranteed cash values will typically begin at the end of year 1. The longer you keep your policy, the greater the guaranteed cash value will become.
Non-guaranteed cash value Sun Par Accelerator provides non-guaranteed cash values that will build up in your policy on a tax-preferred basis. These cash values are created by dividends used to purchase paid-up additional insurance.
Optional benefits (Non-participating)
Read examples of text that can appear in a policy. Not all the provisions apply to every policy – it is for your reference. When we issue a policy it governs the relationship between us and the client The policy can have provisions that are different from those that you've read here.